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Silver News

Endeavour Silver expects costs to fall as upgrades, expansions pay off

By: Liezel Hill     7th April 2008 Precious-metals miner Endeavour Silver, whose record output and revenues in 2007 were overshadowed by high operating costs, will focus on improving operational efficiencies this year, while continuing to search for new resources at its Mexican projects. While the firm more than doubled revenue,... 

Silver Wheaton reserves more than tripled last year

By: Liezel Hill     3rd April 2008 Vancouver-based silver reseller Silver Wheaton increased its proven and probably silver reserves by 239% year-on-year in 2007, to 364,4-million on December 31, the company said on Thursday. 

Aurcana snags near-production Texas silver mine

By: Liezel Hill     3rd April 2008 Vancouver-based junior miner Aurcana has agreed to buy the historic Shafter silver mine, in south-west Texas, from Silver Standard Resources, the firm announced on Thursday. The Shafter mine produced silver from 1883 to 1942, and most of the necessary infrastructure remains place, including a... 

Gammon Gold lifts output forecast, sees lower costs

31st March 2008 Halifax-based Gammon Gold expects to produce between 245 000 and 275 000 gold-equivalent ounces (which include silver production) in 2008, compared with output of 218 734 oz in 2007.  

Endeavour Silver CFO steps down

By: Liezel Hill     19th March 2008 Vancouver-based precious-metals miner Endeavour Silver has appointed Dan Dickson as its interim CFO, after incumbent Bill Franklin stepped down, effective March 31, because of health reasons. 

Strong Canadian dollar, rising costs bite into HudBay earnings

By: Liezel Hill     18th March 2008 Canadian miner HudBay Minerals reported net earnings of C$227,1-million for 2007, compared with C$564-million a year ago, after increased production and higher metals prices failed to offset the effects of a surging Canadian dollar and higher operating costs. The company also attributed the... 

Silver Wheaton agrees to buy silver from Mercator's Arizona mine

By: Liezel Hill     17th March 2008 Vancouver-based silver reseller Silver Wheaton has signed an agreement to buy the entire silver production from Mercator Minerals' Mineral Park copper/molybdenum/silver mine, in Arizona. Silver Wheaton will pay Mercator $42-million in cash up front for the rights to the life-of-mine silver... 

Coeur d'Alene Mines to raise up to $172,5m to build mines

By: Liezel Hill     12th March 2008 Precious-metals miner Coeur d’Alene Mines plans to offer as much as $172,5-million in convertible senior unsecured notes, and will use the proceeds to fund the construction of new mines, the company said on Wednesday. 

Silver Standard eyes maiden start-up later this year

By: Liezel Hill     10th March 2008 Vancouver-based Silver Standard Resources spent C$92,4-million in 2007 on its various Latin American projects, bringing it significantly closer to producer status, the company said on Monday. The company's most advanced project, the Pirquitas mine, in Argentina, is scheduled to begin... 

Rio Tinto agrees to sell share in Peru property

By: Liezel Hill     10th March 2008 Diversified miner Rio Tinto has agreed to sell its 30% interest in a silver prospect in Peru to Vancouver-based Bear Creek Mining for $75-million in cash and shares, the company said on Friday. 

Lundin reviews asset portfolio as new chief takes stock

By: Liezel Hill     28th February 2008 Base metals miner Lundin Mining is taking a close look at all its operations and investments, with a view to managing assets more actively and improving the quality of its portfolio, new CEO Phil Wright said on Thursday. Wright replaced former chief Karl-Axel Waplan in January. 

Barrick, Goldcorp submit study for $2,7bn Dominican Republic gold mine

By: Liezel Hill     27th February 2008 Canadian gold majors Barrick Gold and Goldcorp have submitted a feasibility study for their $2,7-billion Pueblo Viejo project to the government of the Dominican Republic, the firms announced on Wednesday. Barrick, the world's largest producer of the yellow metal, owns 60% of the project,... 

Silver Wheaton earnings jump, sees further growth on new contracts

By: Liezel Hill     25th February 2008 Vancouver-based silver reseller Silver Wheaton increased full-year net earnings to a record $91,9-million in 2007, compared with $85,2-million a year ago, and expects silver sales to almost double, to 25-million ounces by 2010, the company said on Monday. Silver Wheaton buys silver from... 

Great Basin's Hollister project to produce 80 000 gold equivalent oz this year

25th February 2008 Great Basin Gold's (GBG's) Hollister project, in the US, is on schedule to mine 80 000 gold-equivalent ounces this year, the company said. 

Pan American silver reserves rose 6,79% last year

By: Liezel Hill     20th February 2008 Vancouver-based precious-metals miner Pan American Silver increased its silver reserves by 6,79%, to 227,8-million ounces at the end of last year (after mining 20,8-million ounces), from 213,3-million ounces on January 1, 2007. 

Fast-moving junior targets resource estimate by year-end

By: Liezel Hill     20th February 2008 Colin Sutherland, who took the helm at Toronto-based explorer Nayarit Gold in June last year, has wasted no time in accelerating the company's activities at its Mexican prospects, and expects to have an initial resource estimate to show for his efforts by the end of this year. Nayarit,... 

Hochschild buys stake in Canada's Lake Shore

By: Liezel Hill     19th February 2008 LSE-listed Hochschild Mining has bought a 19,99% stake in TSX-listed Lake Shore Gold, and has secured the right to increase its ownership in the Canadian company to as much as 40%, Hochschild said on Tuesday. Lake Shore owns several exploration and development projects in the Timmins region of... 

HudBay expects more zinc, less copper output this year

By: Liezel Hill     15th February 2008 Canada-based Hudbay Minerals expects zinc output to rise and gold and silver production to remain flat in 2008, but will process less copper concentrate in order to comply with Canadian air-quality targets, the company said on Friday. 

Hecla unveils second acquisition in as many days

By: Liezel Hill     13th February 2008 Coeur D'Alene-based Hecla Mining has agreed to buy “substantially all” of Independence Lead Mines' (ILM's) assets in northern Idaho's Silver Valley, the company said on Wednesday. 

Rio Tinto sells Alaska mine stake to Hecla for $750m

By: Liezel Hill     12th February 2008 Diversified miner Rio Tinto will sell its 70,3% holding in the Greens Creek silver/gold/zinc/lead mine, in Alaska, to its joint-venture partner in the operation, Idaho-based Hecla Mining. The sale is the first of several planned by Rio Tinto, which has committed to sell at least $15-billion... 

Silver Wheaton sees benefit from Goldcorp exit, credit crunch

By: Liezel Hill     1st February 2008 Silver reseller Silver Wheaton will "aggressively" pursue new silver contracts this year, and hopes to clinch more than double the three deals that it inked in 2007, president and CEO Peter Barnes said on Friday.  

Goldcorp sells Silver Wheaton stake

By: Liezel Hill     1st February 2008 Canada's second-biggest gold-miner, Goldcorp, has sold its 48% stake in silver reseller Silver Wheaton for about C$1,56-billion, providing the company with much-improved financial leg-room as it prepares to build new mines, including the $1,49-billion Penasquito project, in Mexico. 

Coeur d'Alene considers options for US silver/gold mine

By: Liezel Hill     29th January 2008 Precious-metals miner Coeur d'Alene Mines is “reviewing strategic alternatives”, including a possible disposal, for its Rochester silver and gold mine, in Nevada, US, the firm said on Tuesday.  

HudBay Minerals replaces CEO, shares gain

By: Liezel Hill     25th January 2008 Canadian miner HudBay Minerals announced unexpectedly, late on Thursday, that its president and CEO, Peter Jones, had resigned and would be replaced, effective immediately, by chairperson Allen Palmiere. 

Anvil reports record copper, silver output

By: Christy van der Merwe     23rd January 2008 TSX- and ASX-listed Anvil Mining, on Wednesday reported record production of 16 877 t of copper and 0,7-million ounces of silver, after a full year of production in 2007 at its mines in Dikulushi, Kinsivere and Kulu in the Democratic Republic of Congo. 

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