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South America News

‘Peak’ cobalt is not on the horizon – S&P’s Global Market Intelligence

By: Marleny Arnoldi     Updated 4 hours ago Peak cobalt is not on the horizon, says Standard & Poor’s (S&P’s) Global Market Intelligence metals and mining research analyst Michael Giblin.  

Bacanora raises cash to start Sonora construction

By: Creamer Media Reporter      Updated 4 hours ago London-listed lithium exploration and development company Bacanora Lithium on Monday announced a proposed placing to raise $100-million by way of a placing of new ordinary shares, which will give the company sufficient funds to begin construction of the Sonora lithium project, in Mexico. The... 

Bacanora raises cash to start Sonora construction

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

By: Martin Creamer     Updated 5 hours ago In an economic environment of tight capital allocation and bank pull back from mining finance, the new tax-incentivised CCP 12 J 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     Updated 5 hours ago 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

Vale notches record Q2 iron-ore, pellet output despite trucker strike

By: Reuters     Updated 6 hours ago Brazil's Vale achieved record iron ore and pellet production for a second quarter despite a nationwide trucker strike that paralyzed Latin America's largest economy in May, the miner said in a filing on Monday. Vale, the world's top iron-ore producer, said iron ore output reached 96.755-million... 

Fura to expand its Mozambique ruby holdings; considering an LSE listing

By: Anine Kilian     Updated 6 hours ago TSX-V-listed gemstone producer Fura Gems has entered into an agreement to acquire an interest in nine ruby assets in Mozambique from ASX-listed Mustang Resources and Regius Resources Group for A$15-million, or about C$14.6-million, in cash and shares. Upon closing of the acquisition, Fura, which... 

Atalaya produces record quarterly copper production in Spain

By: Marleny Arnoldi     16th July 2018 Aim- and TSX-listed copper miner Atalaya Mining produced 10 446 t copper at its Proyecto Riotinto mine, in Spain, in the second quarter of the year, beating its first quarter production record.  

Major Beadell shakeup targets $100m cost savings

By: Esmarie Swanepoel     16th July 2018 Gold miner Beadell Resources has implemented major management changes and cost reductions at its Tucano mine, in Brazil, that could save more than $100-million. CEO and MD Simon Jackson and COO Peter Holmes will step down from their current positions, with Dr Nicole Adshead-Bell taking over as... 

Top-grade iron-ore may spike to $100/t

By: Bloomberg     16th July 2018 High-grade iron-ore may spike to $100 a metric ton as China intensifies a clampdown on pollution by restraining industrial activity, adding further momentum to a trend that’s reshaped the global market in recent years and driven buyers in Asia’s top economy to seek out better-quality material.... 

Top-grade iron-ore may spike to $100/t

Total’s acquisition of Engie LNG portfolio closes

By: Marleny Arnoldi     13th July 2018 Petroleum giant Total’s acquisition of Engie’s portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.5-billion, has closed.  

Copper trains ransacked by 'moles' in full-moon desert heists

By: Bloomberg     13th July 2018 On nights lit by a full moon, thieves leap from trucks onto trains as they roll through Chile’s Atacama desert, before throwing 80-kg slabs of copper to the ground and disappearing into the dark. It’s a tactic known as “the cat” and the robbers are “moles” because no one knows where they come... 

Copper trains ransacked by 'moles' in full-moon desert heists

Copper heads for fifth weekly loss, aluminium awaits Trump-Putin summit

By: Reuters     13th July 2018 Copper headed for a fifth weekly loss on Friday as trade tensions between the United States and China rumbled on, while aluminium hit a three-month low ahead of a summit between US President Donald Trump and Russian President Vladimir Putin. Trump and Putin are due to meet in Helsinki on Monday... 

Copper heads for fifth weekly loss, aluminium awaits Trump-Putin summit

SSR Mining reports mixed bag in June quarter

By: Esmarie Swanepoel     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

Coal to remain a significant energy source for decades – WCA

By: Nadine James     13th July 2018 Coal will remain a vital growth enabler and source of energy for decades to come, says World Coal Association CEO Benjamin Sporton. He notes that demand for coal will remain stable to positive, as a result of increased industrialisation and electrification, especially in Africa and South-East Asia. 

Coal to remain a significant energy source for decades – WCA
Photo by Creamer Media
COAL IS CONSTANT Coal will actually be the single largest energy source in 2040

Record gold production at Jaguar’s Pilar mine during Q2

By: Marleny Arnoldi     12th July 2018 TSX-listed Jaguar Mining produced 18 819 oz of gold during the quarter ended June 30, including record output from the Pilar gold mine, in Brazil.  

Anaconda Mining withdraws Maritime Resources buyout offer

By: Marleny Arnoldi     12th July 2018 TSX-listed emerging miner Anaconda Mining on Thursday announced the withdrawal of its previously announced buyout bid to acquire all shares of Maritime Resources. “With the recently completed private placement, Maritime shareholders made it clear that they stood with management and wanted to... 

Ecuador attracting mining interest, political risks weigh on Latin America outlook

By: Mariaan Webb     12th July 2018 The South American country of Ecuador is attracting interest among foreign mining companies, as a low-risk, high-reward market, where government remains supportive of mining, despite the February referendum restricting mining in protected areas. Market intelligence firm BMI, which publishes a... 

World's oil cushion could be stretched to the limit, IEA warns

By: Reuters     12th July 2018 The world's oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency (IEA) said on Thursday. The expected drop in Iranian crude exports this year due to renewed US sanctions, coupled with a... 

World's oil cushion could be stretched to the limit, IEA warns

BHP makes contract offer to union at Escondida mine in Chile

By: Reuters     12th July 2018 BHP Billiton handed in a proposal for a new labor contract to the union at its Escondida copper mine in Chile that includes a salary readjustment linked to inflation and a $23 000 bonus per worker, the company said on Wednesday. The offer falls short of fulfilling some of the demands laid out... 

WFDB appoints World Diamond Mark chairperson

By: Creamer Media Reporter      12th July 2018 Former Dubai Diamond Exchange president Peter Meeus has been appointed chairperson of the World Federation of Diamond Bourses’ (WFDB’s) World Diamond Mark (WDM) programme. “I am delighted that Peter has agreed to take over as chairperson of the WDM, which was created by the WFDB in 2012. Peter... 

Barrick trims copper guidance, gold forecast intact

By: Mariaan Webb     12th July 2018 Toronto, Canada-headquartered Barrick Gold has maintained its gold production guidance for 2018 at between 4.5-million and 5-million ounces, but has slashed 40-million pounds off its copper production guidance, owing to operational challenges at its biggest copper mine – Lumwana, in Zambia. The... 

Barrick trims copper guidance, gold forecast intact
The Lumwana copper mine in Zambia.

Largo delivers solid Q2 production results

By: Creamer Media Reporter      11th July 2018 The Maracás Menchen mine has delivered solid production results for the second quarter, despite a nationwide truckers strike in Brazil that impacted on operations during May. The mine’s June quarter production increased to 2 458 t of vanadium pentoxide (V2O5), a 13% improvement on the first... 

World Diamond Congress to be held in Mumbai in October

By: Schalk Burger     11th July 2018 The World Federation of Diamond Bourses (WFDB) has announced that the 2018 World Diamond Congress, the biannual meeting of the WFDB and the International Diamond Manufacturers Association (IDMA), will take place in Mumbai, India, from October 23 to 25. “This is a very important meeting where we... 

SRK, industry loses leading light

By: Nadine James     11th July 2018 One of SRK Consulting’s three founding members, Dr Oskar Steffen, passed away on Wednesday, June 27, in Johannesburg. He was 77 years old. Steffen was born in Swaziland, where he completed his schooling. He left for Johannesburg in 1956 to study civil engineering at the University of the... 

SRK, industry loses leading light
Photo by Creamer Media
Dr Oskar Steffen

Mining offers private equity opportunities despite recovery - Denham

By: Reuters     11th July 2018 Private equity still has significant opportunities to invest in mining as companies cut debt and rebuild their balance sheets even as the sector recovers, mining specialist Denham Capital said. Denham, which closed a new $550-million mining fund sooner than expected on Monday, has already... 

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

Foreign-backed miner drops lawsuit against Chile for control of lithium deposit

By: Reuters     10th July 2018 Foreign-backed miner Salar Blanco, which is 50%-owned by Lithium Power International, has dropped its lawsuit against Chile to block state-run Codelco from exploiting a lithium deposit where both have claims, the Australian-listed smallcap announced. Lithium Power International said that... 

Orosur to issue shares for advancement of Anzá project

By: Marleny Arnoldi     10th July 2018 TSX- and Aim-listed gold producer Orosur Mining continues to advance discussions to finance the next stage of exploration at the Anzá project, in Colombia.  

Kirkland reports strong production from Australia, Canada mines

By: Marleny Arnoldi     10th July 2018 Toronto-based Kirkland Lake Gold produced 164 685 oz of gold in the second quarter ended June 30, and 312 329 oz for the first half of the year. This compares with 160 305 oz produced in the second quarter of 2017 and 147 644 oz produced in the first quarter of 2018. 

Kirkland reports strong production from Australia, Canada mines
The Macassa mine near the town of Kirkland Lake, in Ontario.

Mining can be a major driver of development in poor countries – ICMM

By: Marleny Arnoldi     10th July 2018 The lives of people living in countries whose economies are dependent on mining have, on average, improved faster than those of people in other countries over the past 20 years, a report by the International Council of Mining and Metals (ICMM) has found.  

Mining can be a major driver of development in poor countries – ICMM
Countries that are mining dependent that were studied in ICMM's report

Jim Gowans joins New Gold board

By: Creamer Media Reporter      10th July 2018 Intermediate gold miner New Gold has recruited Arizona Mining CEO James Gowans to its board of directors with immediate effect. Gowans has more than 30 years of experience in mineral exploration, mine feasibility studies, mine construction and commissioning and the development of best practices... 

McEwen PEA supports 12-year extension of El Gallo

By: Simone Liedtke     9th July 2018 Dual-listed precious metals producer McEwen Mining on Monday filed a new preliminary economic assessment (PEA) for the extension of production from the El Gallo complex, in Mexico, with the new plan adding another 12 years to the operation’s mine life. The key outcomes of the extension, dubbed... 

Denham Capital closes Mining Fund at $558m

By: Marleny Arnoldi     9th July 2018 Resource and energy-focused global private equity firm Denham Capital has closed its first standalone mining fund, the Denham Mining Fund, at $558-million to expand its portfolio in Australia, Canada, South America and Africa.  

Platinum jewellery heading for good year – PGI 

By: Martin Creamer     9th July 2018 Significant demand growth is under way in the platinum jewellery market, which remains the second biggest ounce contributor to platinum demand at 2.5-million ounces of yearly fabrication, some 35% of total demand. “We’re seeing a lot of growth in the market. Obviously, the platinum price is... 

Platinum jewellery heading for good year – PGI
Platinum Guild International CEO Huw Daniel talks to Mining Weekly Online’s Martin Creamer on platinum jewellery promotion. Video and Video Editing. Nicholas Boyd

Alacer ups guidance for oxide plant

By: Marleny Arnoldi     9th July 2018 TSX- and ASX-listed gold producer Alacer Gold on Monday announced an increase to its 2018 oxide plant production guidance to between 110 000 oz and 130 000 oz, at a reduced all-in sustaining cost (AISC) of between $650/oz and $700/oz.  

PEA supports staged expansion of Sierra Metals’ Bolivar mine

By: Marleny Arnoldi     9th July 2018 Hot on the heels of a positive preliminary economic assessment (PEA) for the expansion of its Yauricocha base and precious metals mine, in Peru, Toronto-based Sierra Metals on Monday announced the outcomes of its PEA for the expansion at the Bolivar mine, in Mexico.  

Lundin signs Fruta del Norte offtake, closes $350m debt facility

By: Mariaan Webb     9th July 2018 The Fruta del Norte gold project, in Ecuador, has been significantly derisked from a financial standpoint with the closing of a $350-million senior debt facility and the signing of an offtake agreement for about half of its production over the first eight years of operation. A syndicate of seven... 

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