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Silver News

Technology set to unleash mining innovation – Anglo’s O’Neill

By: Martin Creamer     16th August 2017 In the next ten years, technology is set to unleash a wave of mining innovation, with the sweet spot centred on changing the thinking around orebodies and processing plants rather than much-spoken-about automation. “Our focus has changed from hunting technologies to hunting value,” Anglo American... 

Miner Hochschild's H1 pretax profit falls 33.8% on higher costs

By: Reuters     16th August 2017 Precious metals miner Hochschild Mining's pretax profit fell 33.8% in the first half of the year, hurt by higher costs. Attributable silver production rose 8.9% to 8.9-million ounces in the six months ended June 30, and the company said it was on track to deliver attributable production of... 

Prize Mining exploration hits highest gold-in-soil sample ever at Silver King shear system

By: Henry Lazenby     16th August 2017 Junior explorer Prize Mining has intersected the highest gold-in-soil sample in recorded history along the Silver King shear system at its Kena-Daylight gold project, in south-eastern British Columbia. The Calgary, Alberta-based company on Tuesday reported the initial batch of soil assay results... 

African body urges Congo to prosecute Anvil over mine deaths

By: Bloomberg     15th August 2017 The African Union’s human rights body urged the Democratic Republic of Congo’s government to prosecute officials of an Australian mining company over their alleged role in a military crackdown in 2004 that left more than 70 people dead. The African Commission on Human and People’s Rights also... 

Wheaton Precious Metals hikes quarterly dividend 43% on sector-leading cash flow

By: Henry Lazenby     11th August 2017 Metals-streaming pioneer Wheaton Precious Metals (WPM) has increased its quarterly dividend by 43% to $0.10 a share, as its strong cash flow of $250-million during the first half of the year, combined with ample liquidity encouraged the board to return more cash to investors. Under the company’s... 

Wheaton Precious Metals hikes quarterly dividend 43% on sector-leading cash flow

Primero craters as Q2 output, cash flow fall

By: Henry Lazenby     11th August 2017 Half the value of Canadian precious metals producer Primero Mining’s NYSE-listed stock has been wiped out on Thursday, after the company reported disappointing second quarter results indicating significant declines in output and cash flows. The dual-listed company, with its flagship San Dimas... 

Growth aids new sales platform

By: Nica Schreuder     11th August 2017 There is cautious optimism worldwide in the future demand for valves, owing to investment in major industries, such as, besides others, mining and oil and gas, as well as related infrastructure, which has prompted growth in the valves industry this year. Industry players are hoping that this... 

Growth aids new sales platform
COMPLEXITY Despite the sophisticated nature of valves, ValveConnect emphasises that they are still commodity items accessible through an online platform

Interest returning to Africa in response to commodities resurgence

     11th August 2017 Interest in Africa’s mineral potential is returning and there is a growing confidence in the future of the resources sector in Africa and in Africa–Australia relations, says organiser of the Africa Down Under (ADU) conference, Australian magazine publisher, Paydirt Media.  

Interest returning to Africa in response to commodities resurgence
INTEGRAL EVENT The importance of Africa Down Under continues to be reflected in the number of high-profile attendees it welcomes to Australia’s mining capital each year

British mineral explorer in Africa lists in London

By: Reuters     10th August 2017 A British explorer for mineral resources in Africa will on Thursday become the first venture of its kind to be listed on London's Aim market for growing companies, its CEO said. Following the recovery of the mining sector from a commodity price crash in 2015/16, a handful of new companies have... 

Tahoe’s woes deepen in Guatemala as road blockade, permit suspension drag on

By: Henry Lazenby     10th August 2017 Precious metals producer Tahoe Resources has moved to suspend its quarterly dividend of $0.02 a share and has deferred its full-year production guidance on the back of the Guatemala Supreme Court provisionally suspending the mining licence on its Escobal operation, the third-largest silver mine... 

Tahoe’s woes deepen in Guatemala as road blockade, permit suspension drag on
Photo by Tahoe Resources
Escobal silver mine, Guatemala

Franco-Nevada stocks rise as revenue ratchets up; on the prowl for new precious metals, oil & gas deals

By: Henry Lazenby     9th August 2017 The NYSE-listed stock of royalty and streaming company Franco-Nevada on Wednesday gained nearly 5% following the company on Tuesday reporting increased revenues and profit for the three months ended June. The Toronto-based company that does not operate mines, develop projects or conduct... 

Franco-Nevada stocks rise as revenue ratchets up; on the prowl for new precious metals, oil & gas deals

Endeavour Silver sees 26% y/y decrease in Q2 production

By: Anine Kilian     4th August 2017 Mexico-focused silver producer Endeavour Silver has reported a 26% year-on-year decrease in silver production for the second quarter ended June 30, while silver ounces sold decreased by 34%. The NYSE- and TSX-listed company said in a statement on Thursday that financial performance during the... 

Record production, lower costs drive significant gains for Alamos

By: Samantha Herbst     4th August 2017 TSX- and NYSE-listed midtier gold miner Alamos Gold made significant gains in the second quarter ended June 30, with record production and lower costs driving the highest combined free cash flow in years from the company’s operations. Alamos produced a quarterly record 105 900 oz at cost of sales... 

Record production, lower costs drive significant gains for Alamos
Mulatos mine, Mexico

Aviation company adds drones to African offering

By: Nadine James     4th August 2017 Multinational aviation company ExecuJet has added unmanned aerial vehicle (UAV) services to its African facilities, Cape Town and Johannesburg, in South Africa, and Lagos, in Nigeria, enabling clients to carry out inspections, surveys, mapping and photography in greater detail. ExecuJet Cape... 

Aviation company  adds drones to  African offering
USEFUL, ACCURATE, VARIABLE Unmanned aerial vehicle applications include producing orthomosiacs, three-dimensional models, digital surface models and calculating volumes of extracted materials

Great Panther reports 20% revenue decrease in H1 earnings

By: Anine Kilian     3rd August 2017 Junior silver miner Great Panther Silver reported a 20% decrease in revenue for the six months ended June 30, 2017, primarily attributable to the 14% decrease in metal sales volumes, which had the effect of reducing revenue by $3.1-million.  Metal sales volumes were lower, despite the increase in... 

DRA makes top origination appointment

By: Martin Creamer     3rd August 2017 Multi-disciplinary global engineering group DRA has appointed Pierre Julien to lead the company’s global origination team as executive VP origination. With more than 22 years of senior level industry experience, Julien has been tasked with identifying and accessing new business channels, seeking... 

DRA makes top origination appointment
Photo by Duane Daws
DRA Group Holdings CEO Wray Carvelas (left) with Mining Weekly Online's Martin Creamer in Johannesburg.

Great Panther appoints former Aura Minerals boss Bannantine as CEO

By: Samantha Herbst     2nd August 2017 TSX- and NYSE-listed silver miner and explorer Great Panther Silver has appointed Jim Bannantine president and CEO, following the resignation of Robert Archer, who announced his intention to step down this year in April. "Jim brings a record of exceptional leadership, growing companies and deep... 

Sierra Metals' Peruvian subsidiary lifts H1 production, revenue

By: Creamer Media Reporter      2nd August 2017 The increased production of higher-value ore, improved recoveries and improved metal pricing has positively impacted on Canadian company Sierra Metals’ Corona subsidiary’s results for the half-year. Corona, which is 80% owned by Sierra Metals and which mines for copper, lead, zinc, silver and... 

Mexican miner Penoles Q2 profit surges on lower financial costs

By: Reuters     2nd August 2017 Mexican miner and metals processor Industrias Penoles on Tuesday posted a more than 400% year-on-year jump in its second-quarter profit, helped by better metals prices, higher sales and far lower financial costs. The company, which runs the world's largest primary silver producer, Fresnillo, made... 

NUM, ANC ‘very encouraging’ – Royal Bafokeng Platinum 

By: Martin Creamer     1st August 2017 Royal Bafokeng Platinum CEO Steve Phiri said on Tuesday that he was “very encouraged” by the stance taken the day before by the National Union of Mineworkers (NUM) and the ruling African National Congress (ANC). “We can only improve the situation if we work together and not against each other,”... 

NUM, ANC ‘very encouraging’ – Royal Bafokeng Platinum
Royal Bafokeng Platinum CEO Steve Phiri is interviewed by Mining Weekly Online’s Martin Creamer on the tough current passage of the struggling platinum industry. Video and Video editing: Darlene Creamer 1.8.2017

New report highlights Tahoe Resources’ sustainability efforts

By: Ilan Solomons     1st August 2017 Canadian miner Tahoe Resources recorded no fatalities during 2016 and reduced hand-related injuries by more than 75% in both Peru and Guatemala by implementing a hand-safety programme, according the the company’s 2016 sustainability report, which provides comprehensive information about the... 

New report highlights Tahoe Resources’ sustainability efforts
Photo by Tahoe Resources
Tahoe strengthened it social and environmental management with the addition of an environmental affairs director and a sustainability director

Fresnillo's profit nearly doubles in first half

By: Reuters     1st August 2017 Precious metals miner Fresnillo said profit for its first half nearly doubled boosted by higher gold and silver prices and increased silver output from its San Julian and Fresnillo mines. Fresnillo's average realised prices for silver rose 5.2% to $17.4/oz in the first half, while the average... 

Ariana considering strategies to up Kiziltepe production

By: Mariaan Webb     31st July 2017 The Kiziltepe mine in Turkey has completed its transition in to commercial production and is operating at levels exceeding feasibility expectations, 50%-owner Ariana Resources reported on Monday. The mine, which Ariana owns in a joint venture with Proccea Construction, delivered 1 929 oz of gold... 

Deputy Minister ‘uncomfortable’ at not being consulted

By: Martin Creamer     26th July 2017 Deputy Mineral Resources Minister Godfrey Oliphant told Radio 702 morning anchor Xolani Gwala on Wednesday that he was “uncomfortable” at having to read about the proposed mineral rights moratorium in the newspapers. Oliphant, who has served as the deputy to three Mineral Resources Ministers,... 

Deputy Minister ‘uncomfortable’ at not being consulted
Photo by Duane Daws
Deputy Mineral Resources Minister Godfrey Oliphant

Stop moratorium now, NUM instructs DMR 

By: Martin Creamer     26th July 2017 The National Union of Mineworkers (NUM) said on Wednesday that it is deeply concerned by the current consideration by the Minister of Mineral Resources Mosebenzi Zwane to put in place a mineral rights moratorium until the finalisation of the Mining Charter Three court challenge by the Chamber of... 

TSX falls, weighed by Barrick and other gold miners

By: Reuters     24th July 2017 Canada's main stock index fell on Monday, as gold miners broadly weighed and Barrick Gold lost nearly 5% after a company it majority owns, Acacia Mining, was hit with a bill for $190-billion in unpaid taxes in Tanzania. Railway stocks, big banks and pipeline and other energy stocks also put... 

Charter’s BEE ‘top-up’ provision may be unconstitutional

     21st July 2017 The new “top-up” provision in the latest Mining Charter gazetted on June 15, may prove to be unconstitutional and may lead to further expensive legal action by the mining industry, states Fasken Martineau partner and global mining group member Nicola Jackson. In a statement published on June 15,... 

Charter’s BEE  ‘top-up’ provision may be unconstitutional
GOVERNMENT PAYING LIP SERVICE? The controversial Mining Charter’s new procurement targets stipulate that 80% of services be performed by black economic-empowerment entities

Sierra Metals’ flagship Peru mine shines in Q2

By: Natasha Odendaal     18th July 2017 Consolidated metal production from triple-listed Sierra Metals decreased 3% during the second quarter of the year, the base metals miner said Monday. Sierra, a Canada-based growing polymetallic mining company, attributed the decrease to lower throughput, lower head grades and lower recoveries of... 

Orvana achieves new quarterly gold production record

By: Creamer Media Reporter      18th July 2017 Gold and copper miner Orvana, which owns mines in Spain and Bolivia, has achieved a new quarterly consolidated gold production record of 26 414 oz in the third quarter of fiscal 2017. Consolidated gold equivalent production reached 35 292 oz in the quarter, a 27% improvement on the 27 683 oz... 

Orvana achieves new quarterly gold production record
The El Valle mine in northern Spain.

Silver extreme pits big investors versus small as ETFs surge

By: Bloomberg     18th July 2017 Silver, known for being a market of extremes, is living up to its reputation this year. Prices rallied 17% in the first four months of the year, only to reverse and wipe out those gains. Despite the selloff, investors are pouring money into exchange-traded funds, and assets have reached a record... 

Anglo Asian Mining delivers strong Q2 production

By: Natasha Odendaal     17th July 2017 Aim-listed gold, copper and silver producer Anglo Asian Mining on Monday reported a decline in production, from 36 729 gold-equivalent ounces in the first half of 2016, to 28 554 gold-equivalent ounces in the first half of this year. The Azerbaijan-focused miner produced 23 218 oz of gold – 18... 

Nine recommended improvements should charter renegotiation ensue

By: Martin Creamer     17th July 2017 The agreed suspension of the implementation of the controversial Mining Charter Three may present an opportunity for the parties to negotiate a revised version that reflects terms acceptable to all parties. If so, the renegotiated charter should contain at least nine improvements, say Herbert... 

Nine recommended improvements should charter renegotiation ensue
Photo by Duane Daws
Herbert Smith Freehills Africa partner and co-chair Peter Leon

Polymetal ups stake in ‘perfect fit’ Nezhda deposit

By: Mariaan Webb     17th July 2017 Encouraged by the recently published resource estimate for the Nezhdaninskoye gold deposit, in Yakutia, Russia, LSE-listed Polymetal has decided to increase its shareholding in the joint venture (JV) project to 24.7%, with an option to acquire the remaining stake. A new shareholder agreement has... 

Polymetal ups stake in ‘perfect fit’ Nezhda deposit
Polymetal may process concentrates from Nezhda at the Amursk plant (pictured).

Kingsgate finds silver in Chile

By: Esmarie Swanepoel     17th July 2017 The share price of ASX-listed Kingsgate Consolidated closed higher on Monday, after the company announced the discovery of silver at its Nueva Esperanza project, in Chile. The Nueva Esperanza project is at feasibility stage, and is estimated to host some 1.9-million ounces of gold equivalent. 

North American metals and mining sector provides weak covenant protections – Moody’s

By: Henry Lazenby     15th July 2017 High-yield bonds issued in the metals and mining sector provide weak covenant protection, Moody's Investors Service says in a new report issued on Friday. The average covenant quality (CQ) score under the credit rating agency's scoring criteria for the 56 North American metals and mining... 

Tahoe goes into damage control after flagship mine suspended

By: Bloomberg     14th July 2017 Tahoe Resources, whose flagship Guatemalan mine has been suspended, is taking steps to cut costs, including possibly slowing an expansion of a project in Peru and trimming exploration. The Reno, Nevada-based company may also discuss halting its dividend at an August board meeting and might slow... 

Tahoe goes into damage control after flagship mine suspended
Photo by Tahoe Resources
Escobal, Guatemala

Hayes Creek proves up for PNX

By: Esmarie Swanepoel     12th July 2017 A prefeasibility study (PFS) into the Hayes Creek zinc-gold-silver project, in the Northern Territory, has found that the project would require a capital investment of A$58-million to construct a 450 000 t/y sulphide flotation process plant and associated infrastructure. ASX-listed PNX Metals... 

Miners rewarded for improved capital discipline

By: Henry Lazenby     11th July 2017 Increased cash flows, merger and acquisition (M&A) activity and new debt issues have helped many of the world’s top miners strengthen their balance sheets in 2016, reflecting miners’ response to investor messages around capital discipline, according to new analysis from PwC Canada. "As the global... 

Miners rewarded for improved capital discipline
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