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Silver News

Coeur declares commercial production at BC silver/zinc mine

By: Mariaan Webb     5th September 2018 The Silvertip silver/zinc/lead project that Coeur Mining bought less than a year ago, has entered commercial production on September 1, prompting the NYSE-listed company to revise its full-year guidance. Coeur bought the mine, located in northern British Columbia, in October 2017 and started... 

Constitutional Court reverses Escobal reinstatement

By: Mariaan Webb     4th September 2018 Precious metals miner Tahoe Resources’ troubles in Gautemala deepened on Monday after the Constitutional Court reversed a Supreme Court decision to reinstate the Escobal mine's licence and ordered that nearby communities be consulted. The Ministry of Energy and Mines has to complete an ILO 169... 

Constitutional Court reverses Escobal reinstatement
The Escobal mine in Gautemala remains suspended.

Grupo Mexico could reopen San Martin mine after 11 years

By: Reuters     3rd September 2018 Miner Grupo Mexico could reopen the country's largest underground mine in the first quarter of 2019, after it closed more than a decade ago due to a workers strike, a senior government official said in an interview. The company began to refurbish the San Martin mine, which has copper, silver,... 

Grupo Mexico could reopen San Martin mine after 11 years

Constantine assembles team for Alaska project PEA

By: Creamer Media Reporter      30th August 2018 TSX-V-listed Constantine Metal Resources has selected engineering, project and construction management firm JDS Energy and Mining to prepare a preliminary economic assessment (PEA) of the potential viability of the mineral resources at the Palmer copper/zinc/gold/silver project, in south-east... 

Tahoe says violence increasing near Escobal

By: Mariaan Webb     27th August 2018 A lack of legal certainty surrounding the Escobal mining licence in Guatemala is fuelling violence in the region, TSX- and NYSE-listed Tahoe Resources said at the weekend, reporting that 12 security contract workers at the Minera San Rafael mine were attacked and kidnapped for several hours.... 

Chinese miner to start copper output in Eritrea by next year

By: Bloomberg     24th August 2018 A unit of Sichuan Road & Bridge Co. will start producing copper, zinc, gold and silver at a mine in Eritrea by early next year, helping diversify the country’s agrarian economy, a mines ministry official said. The project will add to two operating mines in the Horn of Africa nation, which is... 

Polymetal declares $0.17 dividend on back of solid H1 performance

By: Marleny Arnoldi     21st August 2018 LSE-listed Polymetal International has declared an interim dividend of $0.17 a share for the first half of the year, higher than the $0.14 a share for the first half of 2017, the company reported on Tuesday. The dividend distribution, to be paid on September 28, represents 50% of the group’s... 

Polymetal declares $0.17 dividend on back of solid H1 performance

Tahoe dismisses a further 200 workers at Guatemala mine

By: Mariaan Webb     21st August 2018 Another 200 employees of the Minera San Rafael operation, in Guatemala, have lost their jobs, the Reno, Nevada-owner of the Escobal mine, Tahoe Resources, reported on Monday. The company, which is in a long-running dispute with the Latin American nation and has not been able to produce silver... 

Oposura scoping study nears completion

By: Creamer Media Reporter      20th August 2018 ASX-listed Azure Minerals is nearing completion of a scoping study for its Oposura zinc/lead/silver project, in Mexico. The study remains on schedule for completion in the third quarter of this year. 

Kizeltepe benefiting from weaker lira, higher grades

By: Mariaan Webb     16th August 2018 The Kiziltepe mine, which Aim-listed Ariana Resources owns in a joint venture (JV) with Turkey's Proccea Construction, is benefitting from the recent movements in the value of the lira, with operational costs incurred in the local currency decreasing. Ariana MD Kerim Sener said on Thursday that... 

First Majestic stock tumbles on Q2 results

By: Mariaan Webb     14th August 2018 Mexico-focused First Majestic on Tuesday reported a second-quarter net loss of $40-million, prompting investors in Toronto to sell the company’s stock, which tumbled nearly 15% to its lowest level in six months. The net loss compares with net earnings of $1.4-million in the second quarter of 2017... 

McEwen closes $50m three-year loan

By: Marleny Arnoldi     13th August 2018 NYSE- and TSX-listed precious metals producer McEwen Mining has closed its previously announced $50-million senior secured three-year loan facility with Royal Capital Management Corporation. Owner and chairperson Rob McEwen is participating as a lender for $25-million of the total loan.  

Tembang on care and maintenance while new mine plan is prepared

By: Esmarie Iannucci     13th August 2018 ASX-listed Sumatra Copper & Gold has placed its Tembang gold/silver operation, in Indonesia, on care and maintenance. The company in May this year temporarily suspended openpit operations at the Tembang mine until the operation could be connected to the State-owned electricity grid later this year. 

Trevali lifts Q2 zinc output

By: Simone Liedtke     10th August 2018 TSX-listed Trevali Mining saw achieved higher zinc production in the second quarter, ended June 30, and remains on track to achieve its full-year production and cost guidance, president and CEO Dr Mark Cruise said on Friday. Production guidance for the year remains unchanged at 400-million to... 

Strong sales growth lifts Silvercorp earnings

By: Nadine James     10th August 2018 In its financial and operating results for the first quarter ended June 30, Canada-based, China-focused Silvercorp Metals on Thursday reported a net income of $10.9-million and a 25% increase in cash flow on the back of a 14% increase in sales. The company achieved sales of $45.1-million, up... 

Fortuna’s Lindero project still set for start of commercial operations in Q3 2019

By: Nadine James     8th August 2018 Construction of Fortuna Silver Mines’ Lindero gold project, in Argentina, has been delayed slightly, but the Canadian miner still expects commercial operations to start during the third quarter of 2019. Fortuna president, CEO and director Jorge Ganoza on Tuesday noted that delays in the building... 

New silver bullion Krugerrand goes on sale

By: Creamer Media Reporter      7th August 2018 The new silver bullion Krugerrand went on sale this week and is expected to generate significant interest, says Prestige Bullion, a joint venture between Rand Refinery and the South African Mint. The silver Krugerrand is Prestige Bullion’s first foray into silver and its introduction makes this... 

New silver bullion Krugerrand goes on sale

Vast expects subsidiary to be granted Baita Plai association licence soon

By: Simone Liedtke     6th August 2018 Aim-listed mining company Vast Resources, its 80%-subsidiary African Consolidated Resources (AFCR) and Romanian State-owned Baita, the holder of the Baita Plai licence, have submitted a joint formal application to Romania’s National Agency for Mineral Resources (ANRM) for the grant to AFCR of an... 

Tahoe Resources CEO says top priority is ending Guatemala mine dispute

By: Reuters     2nd August 2018 The new chief executive of Tahoe Resources said on Thursday that his top priority is ending a long-running dispute in Guatemala that has stopped all of the mining company's silver production. Jim Voorhees, who became CEO of the Reno, Nevada-based company in June, said he has deployed new staff... 

Tahoe Resources CEO says top priority is ending Guatemala mine dispute
Tahoe Resources' Escobal silver mine.

McEwen appoints new COO as Ochoa resigns

By: Creamer Media Reporter      1st August 2018 Gold and silver miner McEwen Mining has appointed senior executive Chris Stewart as president and COO with effect from September 1, succeeding Xavier Ochoa who resigned last month to pursue an opportunity closer to his family in South America. Stewart has 25 years of diversified experience in... 

Hudbay ups Manitoba's operating cost guidance

By: Mariaan Webb     1st August 2018 Toronto-headquartered Hudbay Minerals on Tuesday confirmed that it would meet its production guidance for 2018, but flagged higher operating costs at its Manitoba unit, citing cold weather conditions, higher costs at the 777 mine and the impact of a fan outage at Lalor. The combined mine and... 

Yamana reports solid Q2 gold, silver, copper production

By: Marleny Arnoldi     27th July 2018 Canadian gold miner Yamana Gold produced 248 177 gold-equivalent ounces (GEOs), 1.31-million ounces of silver and 31.1-million pounds of copper in the second quarter of this year. Higher-than-expected output at its Chapada, Canadian Malartic, Jacobina and El Peñón operations, together with the... 

Tanzania targets setting up mineral exchange by end of 2018

By: Bloomberg     26th July 2018 Tanzania plans to establish a minerals exchange by the end of this year, in a bid to ensure the East African nation reaps the most from its resources, Minerals Minister Angellah Kairuki said. The nation’s resources including gold, diamonds, iron, silver, copper, graphite and other rare earth... 

Fresnillo clips FY silver guidance

By: Mariaan Webb     25th July 2018 Precious metals miner Fresnillo on Wednesday reported second-quarter production results and adjusted its silver and gold guidance for the full year. The world’s largest primary silver miner produced 15.34-million ounces of the precious metal in the second quarter, taking half-year output to... 

Fresnillo clips FY silver guidance
Fresnillo's Saucito mine.

First Majestic production hits record, 2018 production guidance hiked

By: Simone Liedtke     17th July 2018 Total production from dual-listed First Majestic’s seven operating silver mines reached a new company record of 5.1-million ounces of silver equivalent in the second quarter, comprising 2.8-million ounces of silver, 25 449 oz of gold, 3.9-million pounds of lead and 1.4-million pounds of zinc. The... 

New mining fund raising R750m to co-finance ancillary mine projects 

By: Martin Creamer     16th July 2018 In an economic environment of tight capital allocation and bank pull back from mining finance, the new tax-incentivised CCP 12J Mining Fund is going all out to raise R750-million for co-investment in ancillary project opportunities on existing mine sites. On the list of targeted project... 

New mining fund raising R750m to co-finance ancillary mine projects
CCP 12J MD Paul Miller talks to Mining Weekly Online’s Martin Creamer on new tax incentives to boost mining investment. Video and Video Editing: Nicholas Boyd. Photographs: Dylan Slater.

McEwen’s operations on track to meet full-year guidance

By: Marleny Arnoldi     16th July 2018 Dual-listed precious metals producer McEwen Mining produced 36 959 oz of gold and 772 432 oz of silver, or 47 258 gold-equivalent ounces (GEOs), for the second quarter of this year.  

McEwen’s operations on track to meet full-year guidance

SSR Mining reports mixed bag in June quarter

By: Esmarie Iannucci     13th July 2018 TSX- and New York-listed metals producer SSR Mining Inc has reported a mixed bag from its three operating mines during the three months to June Gold production from the Marigold operation increased by more than 15% during the quarter, to 49 436 oz, compared with the 42 960 oz delivered in the... 

Hecla mines outperform; Klondex deal to close this month

By: Mariaan Webb     13th July 2018 US-based precious metals miner Hecla has reported a 7% decrease in second-quarter silver production, but it still managed to exceed production expectations, boosting the company’s cash position to its second-highest in six years. Silver production decreased from 2.81-million ounces in the June... 

Hecla mines outperform; Klondex deal to close this month

Rand Refinery, South African Mint introduce 1 oz silver Krugerrand

By: Creamer Media Reporter      11th July 2018 Prestige Bullion, a joint venture between Rand Refinery and the South African Mint, will, from August 1, sell 1 oz silver bullion Krugerrands. The silver Krugerrand will be produced in unlimited mintage, dependent on market appetite and linked to the daily price of silver. 

Rand Refinery, South African Mint introduce 1 oz silver Krugerrand
The 1 oz silver Krugerrand

Great Panther sticks to FY guidance despite weaker Q2 output

By: Mariaan Webb     10th July 2018 Primary silver miner Great Panther has maintained its full-year production and costs guidance, despite weaker June quarter output as a result of unusually wet weather at its Guanajuato mine complex, in Mexico. Consolidated metal production decreased by 9% year-on-year to one-million... 

Great Panther sticks to FY guidance despite weaker Q2 output

CITIC Metal gets internal green light to buy 19.5% stake in Ivanhoe

By: Marleny Arnoldi     9th July 2018 China State-owned investment company CITIC’s subsidiary CITIC Metal has completed its confirmatory due diligence and has received the necessary internal approvals to complete the long-term, strategic cooperation and investment agreement with TSX-listed Ivanhoe Mines.  

Green tech to drive industrial demand for silver

By: Nadine James     6th July 2018 The ongoing green technologies revolution, driven by the exponential growth of new energy vehicles (NEVs) and continued investment in solar photovoltaic (PV) energy, should boost global industrial demand for silver over the next decade, says non-profit industry organisation Silver Institute in a... 

ICMM welcomes two South American miners

By: Jessica Oosthuizen     6th July 2018 Two South American mining companies, Minera San Cristóbal and Minsur, have joined the International Council on Mining and Metals (ICMM). ICMM CEO Tom Butler notes that both companies have earned their membership of ICMM by complying with the council’s “rigorous” admission procedure, adding that... 

ICMM welcomes two South American miners
TOM BUTLER Both Minera San Cristóbal and Minsur have shown real leadership in their environmental and social performance and have valuable experience to share

Kirkland Lake pursues arbitration over Centerra’s royalty portfolio sale

By: Mariaan Webb     27th June 2018 Canadian gold miner Centerra Gold has completed the sale of its royalty portfolio to a subsidiary of Triple Flag Mining Finance Bermuda for $155-million in cash. The agreement comprised the sale of Centerra subsidiary AuRico Metals and 100% of the shares in its indirect wholly-owned subsidiary... 

Yamana’s Cerro Moro reaches commercial milestone

By: Mariaan Webb     26th June 2018 Canadian precious metals miner Yamana Gold has declared commercial production at its Cerro Moro gold and silver mine in Santa Cruz, Argentina. The mine poured its first gold and silver doré in May and subsequently ramped up to commercial production.  

Orion accelerating on all fronts, looking to upscale production

By: Martin Creamer     25th June 2018 ASX- and JSE-listed Orion Minerals has raised an additional A$11-million through a share placement so that it can accelerate on all fronts. This equity capital raising funds the company beyond the bankable feasibility study (BFS) to progress its Prieska zinc/copper project, in South Africa's... 

Orion accelerating on all fronts, looking to upscale production
Photo by Creamer Media
Orion Minerals CEO Errol Smart

Polish copper producer KGHM appoints new CEO

By: Reuters     25th June 2018 Poland's State-run KGHM, one of the world's biggest copper and silver producers, has appointed Marcin Chludzinski as its new CEO, the company said on Friday. Chludzinski has been the head of the State-run Industrial Development Agency. Local media, including Puls Biznesu, had reported he was the... 

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