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Silver News

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... 

Winmar eyes new projects in Iberian Pyrite Belt

By: Mariaan Webb     11th July 2017 Australia’s Winmar Resources is assessing additional projects in the Iberian Pyrite Belt and is in discussions with a number of parties holding properties in the region, the company said this week, as it announced that it had stopped all significant expenditures at the Lomero joint venture (JV)... 

Austral to combine Chilean projects

By: Esmarie Swanepoel     11th July 2017 A technical report by dual-listed Austral Gold has shown that combining the companies Guanaco and Amancaya projects, in Chile, would prove profitable for the company. Guanaco is currently producing at a rate of around 50 000 oz/y, and is projected to continue at this rate for the next five years... 

Another bullion flash crash is testing the nerve of traders

By: Bloomberg     8th July 2017 After-hours surges and plunges that have whipsawed gold and silver prices over the past two weeks are unnerving traders. Silver futures sank as much as 10%, as more than 25-million ounces of the precious metal traded within a minute just after 7 AM in Singapore Friday. Last week, gold fell below... 

Another bullion flash crash is testing the nerve of traders

Guatemala suspends Tahoe’s flagship Escobal mining licence

By: Henry Lazenby     6th July 2017 Canadian miner Tahoe Resources says it will approach Guatemala’s Constitutional Court after the Guatemala Supreme Court provisionally suspended the mining licence on its Escobal operation, the third-largest silver mine in the world. The court issued a temporary licence suspension after... 

Guatemala suspends Tahoe’s flagship Escobal mining licence
Photo by Tahoe Resources
The Guatemala Supreme Court has provisionally suspended the mining licence of Tahoe Resources' Escobal silver mine

Great Panther acquires Peru-based underground mine from Nyrstar

By: Anine Kilian     4th July 2017 TSX-listed silver ore producer Great Panther Silver has acquired the Peru-based Coricancha gold-silver-lead-zinc-copper underground mine and mill complex (CMC) from subsidiaries of integrated mining and metals company Nyrstar. The acquisition was completed on June 30 as a share purchase. 

Mining Indaba offering new junior zone, boosting interface opportunities 

By: Martin Creamer     4th July 2017 Strong new thrusts are planned for next year’s Investing in African Mining Indaba, which is scheduled to take place at the Cape Town International Convention Centre from February 5 to 8, once again to support investment in mining companies operating in Africa and to provide an effective platform... 

Mining Indaba offering new junior zone, boosting interface opportunities
Investing in African Mining Indaba MD Alex Grose outlines to Mining Weekly Online’s Martin Creamer the major new focus on junior miner involvement. Video and Video Editing: Lionel da Silva.

Santacruz looks to sell Gavilanes mine for $3.5m

By: Megan van Wyngaardt     3rd July 2017 TSX-V-listed Santacruz Silver Mining has signed a letter of intent (LoI) to sell its interest in the Gavilanes project in Durango, Mexico to an arm's-length third-party gold and silver producer for $3.5-million, plus value-added tax. Gavilanes is located in the central part of the Sierra Madre... 

Junk-bond investor unease resurfaces as another debt deal pulled

By: Bloomberg     3rd July 2017 A mining company pulled a junk-bond deal Friday in the latest sign that investors are losing their appetite for riskier corporate debt. Hecla Mining Co. pulled a bond sale following the biggest week of outflows from high-yield bond funds since early May and after at least three companies scrapped... 

Niuminco buys remaining Eddie Creek stake

By: Esmarie Swanepoel     3rd July 2017 ASX-listed Niuminco has moved to take full ownership of the Eddie Creek gold/silver mining lease, in Papua New Guinea. The company currently holds an 83% interest in the project, and has struck a deal with former joint venture partner Mincor Resources to acquire the remaining 17% interest for... 

Kiziltepe ramp-up progressing smoothly – Ariana

By: Mariaan Webb     30th June 2017 The Kiziltepe precious metals mine in Turkey is gearing up for commercial production to start soon, as the ramp-up of the mine continues to meet, or exceed, the expectations of joint venture partners Ariana and Proccea Construction. In an operational update published on Friday, 50%-owner Ariana... 

Fresnillo chief chosen as new Silver Institute president

By: Creamer Media Reporter      29th June 2017 The CEO of the world’s largest primary silver producer Fresnillo, Octavio Alvidrez, has been appointed president of the Silver Institute, succeeding Coeur Mining president and CEO Mitchell Krebs. The nonprofit international association that draws its membership from across the breadth of the... 

Canada's Gabriel Resources sues Romania for a record C$5.7bn

By: Henry Lazenby     29th June 2017 Canadian project developer Gabriel Resources is suing Romania for a record C$5.7-billion before the World Bank's International Centre for Settlement of Investment Disputes (ICSID), the TSX-listed company revealed on Thursday. The company hopes to tie up a drawn out dispute with the country’s... 

Canada's Gabriel Resources sues Romania for a record C$5.7bn
Photo by Gabriel Resources
Gabriel Resources is suing Romania for a record C$5.8-billion before the World Bank's ICSID

Santacruz to consolidate ownership of Veta Grande, Minillas properties

By: Henry Lazenby     24th June 2017 Canadian junior Santacruz Silver Mining has signed an option agreement with certain private Mexican companies known as Contracuña under which Santacruz aquired an option to buy a 100% interest in the Veta Grande and Minillas properties, for $15.5-million. The TSX-V-listed company currently... 

Guatemala police clear access to Tahoe’s blocked Escobal mine

By: Henry Lazenby     23rd June 2017 Police have used teargas to clear a public road near the town of Casillas, in south-east Guatemala, of protesters blocking access to Canadian miner Tahoe Resources’ controversial Escobal mine, the third-largest silver mine in the world. The TSX- and NYSE-listed miner said in a statement on Friday... 

South32 awards R158m coal contract to 100% black-owned mining firm 

By: Martin Creamer     22nd June 2017 Diversified mining company South32 has awarded a three-year, R158-million contract at the Wolvekrans Middelburg Complex to 100% black-owned Modi Mining, which aims to source up to 90% of its labour from the nearby communities. The award marks an advance on the ASX- and JSE-listed company’s plans... 

South32 awards R158m coal contract to 100% black-owned mining firm
Photo by Duane Daws
South32 president and COO Africa Mike Fraser

Slow, bumpy market recovery on the cards for most commodities

By: Henry Lazenby     22nd June 2017 The global commodity market is probably in for a slow, drawn-out recovery following the five-year bear market, S&P Global Market Intelligence director for reports on the metals and mining sectors Dr Chris Hinde said during a webcast on Wednesday. According to S&P’s ‘State of the Market’ report,... 

Slow, bumpy market recovery on the cards for most commodities

Mining Charter exposing South African economy to GATT angst  

By: Martin Creamer     21st June 2017 The procurement rules of the new Mining Charter may violate South Africa’s obligations under the General Agreement on Tariffs and Trade (GATT), exposing the country to challenges by other member states of the World Trade Organisation (WTO), Herbert Smith Freehills lawyers Peter Leon and Patrick... 

Mining Charter exposing South African economy to GATT angst
Photo by Duane Daws
Herbert Smith Freehills co-chair Peter Leon

Mining Charter set to worsen stakeholder relations – Bench Marks

By: Martin Creamer     20th June 2017 The new Mining Charter is the flawed outcome of inadequate consultation with communities, the board of the Bench Marks Foundation said on Tuesday, when it warned that the document is poised to worsen stakeholder relations. Bench Marks executive director John Capel condemned the new charter as a... 

Mining Charter set to worsen stakeholder relations – Bench Marks
Photo by Reuters
Rt Rev Dr Jo Seoka, chairperson of the Bench Marks Foundation, which has launched a scathing attack on the new Mining Charter.

Access to Tahoe’s Escobal mine blocked, guidance remains unaffected

By: Henry Lazenby     20th June 2017 Protestors near the town of Casillas, in south-east Guatemala, have blocked access to precious metals miner Tahoe Resources’ flagship Escobal mine, the third-largest silver mine in the world. The protests appear to relate to a variety of issues, including claims that mining at Escobal is causing... 

Access to Tahoe’s Escobal mine blocked, guidance remains unaffected
Photo by Tahoe Resources
Tahoe Resources' Escobal mine, in Guatemala

Santacruz discovers new vein crosscutting existing Membrillo structure

By: Henry Lazenby     20th June 2017 TSX-V-listed junior Santacruz Silver Mining has discovered a new mineralised vein crosscutting the Membrillo silver/zinc/lead/gold vein structure, located about 4 km from the company's Rosario mill located near Charcas, San Luis Potosi, in Mexico. Vancouver-based Santacruz on Monday said its... 

Desert Star announces transformational transaction as it buys Capstone’s Kutcho project

By: Henry Lazenby     17th June 2017 TSX-listed base metals company Capstone Mining has agreed to sell its Kutcho copper/zinc/gold/silver project to TSX-V-listed Desert Star Resources for C$28.8-million in cash. The payment will also include a scrip portion to give Capstone a 9.9% stake in Desert Star upon closing. 

Trevali strikes more zinc at New Brunswick mining camp

By: Henry Lazenby     16th June 2017 Canadian base metals producer Trevali Mining has hit more high-grade zinc intercepts during its 2016/17 exploration campaign on the Halfmile deposit, located in the Bathurst Mining Camp of north-eastern New Brunswick. Designed to validate historic data as well as to expand and improve upon the... 

Chamber going to court to halt devastating charter blow to already battered mining sector 

By: Martin Creamer     15th June 2017 The Chamber of Mines of South Africa will be applying at the earliest opportunity for a court date for a declaratory order on continuing empowerment consequences, as well as immediately seeking an interim court interdict to suspend the implementation of Mining Charter Three, the devastating set... 

Chamber going to court to halt devastating charter blow to already battered mining sector
Photo by Creamer Media
Chamber of Mines of South Africa president Mxolisi Mgojo

South African Reserve Bank says platinum coin concept not viable 

By: Terence Creamer     12th June 2017 The South African Reserve Bank (SARB) has no intention of mandating the South African Mint to produce a platinum coin to be marketed along the lines of the successful Krugerrand gold coin, revealing that feasibility studies have shown the concept to be unviable. Deputy governor Francois Groepe... 

South African Reserve Bank says platinum coin concept not viable
Platinum and silver coins are being included in sets commemorating the fiftieth anniversary of the Krugerrand this year

IHS Markit's materials price index registers 3.1% weekly decline

By: Henry Lazenby     9th June 2017 A broad basket of commodities tracked by market research house IHS Markit has declined the most in a single week since mid-April, falling 3.1% last week in a broad retreat. IHS senior economist Ben Orhan said in a news release to Mining Weekly Online on Thursday that the commodity price index... 

Phosa condemns charter tinkering, urges growth negotiations  

By: Martin Creamer     7th June 2017 Stop tinkering with sector charters and instead negotiate them in a manner that creates room for sizable growth, African National Congress (ANC) National Executive Committee member Dr Mathews Phosa urged on Wednesday. Delivering the keynote address at the Junior Indaba, the former premier of... 

Phosa condemns charter tinkering, urges growth negotiations
African National Congress National Executive Committee member Mathews Phosa addressed the Junior Indaba, which was cover by Mining Weekly Online’s Martin Creamer. Photograph: Duane Daws. Video and Video Editing: Darlene Creamer

Endeavour Silver acquires more Mexican exploration properties

By: Henry Lazenby     7th June 2017 Canadian primary silver producer Endeavour Silver has acquired two small but prospective mineral property groups, Calicanto and Veta Grande, located in the historic silver mining district of Zacatecas, in Mexico. All of the properties host old mines and/or known silver/gold veins that were... 

Polymetal extends Sberbank facility

By: Creamer Media Reporter      5th June 2017 Gold and silver miner Polymetal has extended its existing $400-million credit facility with Sberbank for another seven years in a move which CEO Vitaly Nesis say is an “excellent deal” for the company. The original loan facility dates back to November 2013 and provided for the bullet repayment in... 

Young bull run kickstarts cyclical mining industry into exploration mode

By: Henry Lazenby     2nd June 2017 With the commodity and equity markets in much better shape than a year ago, mining industry players are navigating the early days of a new bull run with renewed interest in exploration and mergers and acquisitions activity to secure future supplies. While the commodity market is perhaps not... 

Young bull run kickstarts cyclical mining industry into exploration mode
Photo by Resource Maven
Resource Maven newsletter writer Gwen Preston on a mining site visit

Polymetal ups stake in Kazakhstan project; starts board succession

By: Creamer Media Reporter      1st June 2017 Russian gold and silver miner Polymetal has increased its interest in the Dolinnoye gold property in Kazakhstan to 50%, after paying $1.6-million for an additional 25% stake. The transaction completes an earn-in agreement between Polymetal and its partner on the property, which is set to feed... 

Polymetal ups stake in Kazakhstan project; starts board succession
Photo by Duane Daws
Polymetal chairperson Bobby Godsell

Yamana continues with Gorbea earn-in

By: Henry Lazenby     31st May 2017 Gold major Yamana Gold has decided to proceed with its 75% option agreement on Mirasol Resources’ Gorbea belt projects, in Chile. Optioned in March 2015, junior Mirasol announced on Tuesday that it had received a $400 000 option payment from Yamana as confirmation that it would continue... 

Lundin Gold seals $450m finance package for Fruta del Norte; moves first gold forward

By: Henry Lazenby     30th May 2017 Canadian project developer Lundin Gold has unveiled a $400-million to $450-million financing package with the Orion Mine Finance Group (Orion) and Blackstone Tactical Opportunities to fund construction of its flagship Fruta del Norte project, in Ecuador. According to the Vancouver-based company,... 

Lundin Gold seals $450m finance package for Fruta del Norte; moves first gold forward
Photo by Lundin Gold
Lundin Gold's Fruta del Norte camp, Ecuador

Alba Minerals’ CEO to step down

By: Creamer Media Reporter      30th May 2017 Michael Nott will step down as CEO of Aim-listed Alba Mineral Resources, effective June 1. He will, however, remain on the company’s board as nonexecutive director. 

Zambezi Protocol to serve as guide for identity-changing chamber 

By: Martin Creamer     29th May 2017 The 128-year-old Chamber of Mines of South Africa provided an important indicator of its intended new direction when it revealed that the Zambezi Protocol would be its guiding light as it embarked on its identity and name-change programme. Under unanimously elected new president of Mxolisi Mgojo,... 

Zambezi Protocol to serve as guide for identity-changing chamber
Mining Weekly Online’s Martin Creamer asks new Chamber of Mines office bearers to spell out the influential institution’s decision to change its 128-year-old name and identity. Photographs and Video: Duane Daws. Video Editing : Lionel d Silva.

Northern Vertex, Greenstone partner to accelerate Moss mine development; US gold consolidation

By: Henry Lazenby     26th May 2017 Canadian project developer Northern Vertex Mining and Guernsey-based private equity fund Greenstone Resources has formed a partnership that will strengthen Northern Vertex’s balance sheet and expedite construction, procurement and staffing initiatives as the company works up to declaring... 

Peru allows Bear Creek to recover Corani tax

By: Henry Lazenby     26th May 2017 TSX-V-listed project developer Bear Creek Mining has signed an agreement with the Peru Ministry of Energy and Mines (MEM) and ProInversion (an agent for the Peru government) that allows the company to recover, at its option and on an accelerated basis, the 18% taxes applied to engineering and... 

Botswana receives load bank system order

By: Simone Liedtke     26th May 2017 The first load bank system from power-generating brand supplier Vert Energy – the Southern Africa distributor of Asco power switching and control components – was supplied to private equity company Peter Investments, in Botswana, last month. 

Botswana receives load bank system order
SECURING SUPPLY Vert Energy plays a role in providing dependable power to companies, even in Africa’s most remote countries – such as Botswana

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