R/€ = 15.73 Change: -0.10
R/$ = 13.84 Change: -0.12
Au 1281.31 $/oz Change: -12.55
Pt 794.99 $/oz Change: -8.87

South America News

IEA sees oil demand growth defying economic slowdown for now

By: Bloomberg     18th January 2019 Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Agency. “We have seen prices fall very significantly since the peak at the beginning of October, and that is... 

Leagold outlines plans for expanded Los Filos mine

By: Creamer Media Reporter      18th January 2019 The Los Filos gold mine in Mexico that Leagold bought from Goldcorp almost two years ago has the potential to be expanded to 350 000 oz/y, the Canadian company reported this week, announcing the results of an expansion feasibility study. The study incorporates the potential for the development... 

Pérez de Solay takes over as MD at Orocobre

By: Esmarie Iannucci     18th January 2019 Lithium miner Orocobre has appointed Martin Pérez de Solay as MD, following the retirement of Richard Seville. Pérez de Solay has also formally started his duties as CEO.  

Brazil general with mining link takes over indigenous agency

By: Reuters     18th January 2019 A retired Army officer who last year advised a Canadian company seeking to mine gold in the Amazon returned to the head of Brazil's indigenous rights agency on Thursday, vowing to improve the lives of the country's native peoples. General Franklimberg Ribeiro de Freitas had run the National... 

Cochilco keeps 2019 copper forecast at $3.05/lb amid trade war, Brexit

By: Reuters     18th January 2019 Chile's Cochilco state copper commission on Thursday maintained its average price prediction of $3.05/lb for 2019, rising to $3.08 for 2020, amid the continuing US-China trade war and further potential volatility because of Brexit. Cochilco said it saw production at 5.941-million tonnes for... 

Rio Tinto’s copper output, iron-ore shipments rise

By: Esmarie Iannucci     18th January 2019 Diversified major Rio Tinto has reported higher iron-ore and copper production for the quarter ended December, with other commodities remaining stable. “We delivered a solid operational performance in the final quarter of 2018, in particular across our copper assets,” said Rio CEO Jean-Sebastian... 

Rio Tinto’s copper output, iron-ore shipments rise
Photo by Bloomberg
Rio Tinto CEO Jean-Sebastian Jacques

Asanko progresses Esaase trial mining, exceeds production guidance

By: Marleny Arnoldi     17th January 2019 TSX- and NYSE-listed Asanko Gold delivered a strong operational performance in the final quarter of 2018, producing 59 823 oz of gold, taking full year output to 223 152 oz. This was above guidance of 200 000 oz to 220 000 oz.  

Asanko progresses Esaase trial mining, exceeds production guidance
Asanko gold mine, in Ghana

Sibanye adds global experience to safety panel 

By: Marleny Arnoldi     17th January 2019 JSE- and NYSE-listed precious metals miner Sibanye-Stillwater has established a Global Safe Production Advisory Panel, after identifying the need for an additional safety initiative in 2018. The panel consists of a group of leading academics and is chaired by Sibanye group safety head Dr Kobus... 

Avesoro lifts FY18 output by 15% y/y, progresses New Liberty undergound PFS

By: Marleny Arnoldi     17th January 2019 TSX- and Aim-listed gold producer Avesoro Resources exceeded its 2018 full year guidance, with 220 458 oz of gold produced from its New Liberty mine, in Liberia, and the Youga mine, in Burkina Faso. Avesoro’s yearly production increased by 15% compared with 2017, with a 44% year-on-year... 

Orocobre output rises by 65%

By: Esmarie Iannucci     17th January 2019 ASX- and TSX-listed Orocobre has reported a 65% increase in quarterly production during the three months to December, with lithium carbonate production reaching 3 782 t. The company noted on Thursday that the December quarter results was the second best quarter of production at the Olaroz... 

B2Gold production surges as new Mali mine outperforms

By: Mariaan Webb     17th January 2019 For ten consecutive years, Canada’s B2Gold has booked record gold production and 2018 was no different, with the miner lifting output by 51% to 953 504 oz in what it describes as a “year of transformational growth”. Production received a major boost from the new large Fekola mine, in Mali, which... 

Gran Colombia FY output up 25%

By: Creamer Media Reporter      17th January 2019 Canada-based Gran Colombia has delivered a 25% production increase in 2018, with output rising to 218 001 oz, surpassing the company’s initial guidance for the year. The Segovia operations, in Colombia, continue to be the key catalyst for the midtier miner’s gold production, with the operations... 

Platinum price fall worsening plight of job-intensive mines 

By: Martin Creamer     16th January 2019 The latest fall of the platinum price is threatening to become the last straw that broke the camel’s back for some deep labour-intensive platinum group metals (PGMs) mines on particularly the western limb of the Bushveld Complex, Mining Weekly Online can today report. Well ahead of the latest... 

Platinum price fall worsening plight of job-intensive mines
Platinum price fall pressurising mines.

Lundin’s strong Q4 boosts full-year production results

By: Nadine James     16th January 2019 TSX-listed Lundin Mining has achieved, or exceeded, its yearly guidance at all of its operations, the diversified miner announced on Tuesday, releasing production results for the three and twelve months ended December 31, 2018. The company produced 48 206 t of copper in the fourth quarter, taking... 

Lundin’s strong Q4 boosts full-year production results

Ford, IBM among quartet in Congo cobalt blockchain project

By: Reuters     16th January 2019 Carmaker Ford, technology giant IBM, South Korean cathode maker LG Chem and China's Huayou Cobalt have joined forces in the first blockchain project to monitor cobalt supplies from Democratic Republic of Congo. The pilot, overseen by responsible-sourcing group RCS Global, aims to help... 

Vale gets approval to buy 3 wind farms in northeast

By: Reuters     16th January 2019 Iron-ore miner Vale SA has won approval from Brazil's antitrust regulator to buy three wind farms in the northeast of the country from investment fund Salus, according to an announcement in the official gazette on Tuesday. In announcing its decision, the Administrative Council for Economic... 

Norsk Hydro says Alunorte production embargo lifted

By: Reuters     16th January 2019 Norwegian aluminium-maker Norsk Hydro said on Tuesday that Brazil's northern state of Para has lifted a production embargo on its Alunorte alumina refinery, but noted that full production will not resume until a federal court follows suit. The plant is operating at half capacity after admitting... 

Mexico mining-union head turned senator reviewing contracts

By: Bloomberg     16th January 2019 Mexican mining-union leader and newly installed Senator Napoleon Gomez Urrutia is ready to take on companies that he says don’t pay enough taxes, pollute the environment and enjoy concessions he deems are too long. Mining shares tumbled. An old foe of Grupo Mexico, Gomez Urrutia is reviewing... 

Anglo American begins quest to unearth next CEO 

By: Reuters     15th January 2019 Anglo American has promoted a section head it considers to have CEO potential, focusing its attention on internal talent as it begins searching for a successor to the man who steered the mining company through the 2015/16 commodities price slump. CEO Mark Cutifani has won plaudits for his... 

Anglo American begins quest to unearth next CEO
Photo by Creamer Media
Mark Cutifani

McEwen output tops guidance

By: Mariaan Webb     15th January 2019 NYSE- and TSX-listed gold miner McEwen Mining reported on Tuesday that its 2018 production had topped its guidance, with gold equivalent output (GE) rising to 175 561 oz, comprising 135 124 oz of gold and 3.03-million ounces of silver. The production compares with 152 329 oz of GE in 2017, and... 

Opec+ plans review in Baku in March, Ministers' Meeting in April

By: Bloomberg     15th January 2019 Opec and its allies plan to hold a meeting in March to assess their oil-production accord in Azerbaijan, and then ministers will gather to set policy in April, according to the organization’s top official. The body that reviews the implementation of Opec’s supply cuts, the Joint Ministerial... 

Fischer steps down as GoldQuest CEO

By: Creamer Media Reporter      15th January 2019 Exploration junior GoldQuest has appointed VP for corporate development, Dave Massola, as its CEO, succeeding Bill Fischer, who is continuing as nonexecutive chairperson of the board. The purpose of the management change, the TSX-V-listed junior explains, is to conserve capital, while licencing... 

Sibanye, Lonmin extend merger longstop date to June

By: Marleny Arnoldi     15th January 2019 Precious metals miner Sibanye-Stillwater and platinum group metals miner Lonmin have agreed to extend the longstop date for the transaction in which Sibanye will acquire all of Lonmin’s issued share capital from February 28 to June 30. This follows after the Association of Mineworkers and... 

Sibanye banks on US mines, high palladium price as South African strike spreads 

By: Marleny Arnoldi     15th January 2019 In response to the Association of Mineworkers and Construction Union’s (AMCU’s) secondary strike action announcement, Sibanye-Stillwater CEO Neal Froneman on Tuesday said the company had been preparing its local platinum operations for this outcome and had contingency plans in place. AMCU on... 

Sibanye banks on US mines, high palladium price as South African strike spreads
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Investec lifts shareholding in Sibanye above 5%

By: Marleny Arnoldi     15th January 2019 Financial services company Investec has acquired a further interest in the ordinary shares of Sibanye-Stillwater, taking its overall shareholding to 5.0393% of the company’s issued shares.  

Argentina set to join global mining transparency initiative

By: Reuters     15th January 2019 Resource-rich Argentina is expected to join the international transparency standard for managing oil, gas and mineral resources, the Extractive Industries Transparency Initiative (EITI) said on Monday, which could make it more attractive for investors. The global initiative, launched by... 

AMCU to strike at Sibanye’s platinum operations from Jan 22 

By: Marleny Arnoldi     14th January 2019 The Association of Mineworkers and Construction Union (AMCU) on Monday confirmed it would embark on secondary strike action at Sibanye-Stillwater’s platinum operations in South Africa from January 22. This is in support of the strike at Sibanye’s gold operations on the West Rand and in the Free... 

AMCU to strike at Sibanye’s platinum operations from Jan 22

Filo del Sol PFS confirms significant project potential

By: Marleny Arnoldi     14th January 2019 TSX-V- and Nasdaq-listed Filo Mining’s prefeasibility study (PFS) of its Filo del Sol project, on the border of Chile and Argentina, has confirmed the “incredible” copper, gold and silver potential of the project. CEO Adam Lundin said on Monday that the PFS had positive findings, including a... 

Newmont seeks to become world's biggest gold producer through $10bn Goldcorp buyout 

By: Marleny Arnoldi     14th January 2019 NYSE-listed Newmont Mining Corporation and NYSE- and TSX-listed Goldcorp have entered into a definitive agreement that will result in Newmont acquiring all shares of Goldcorp in a stock-for-stock transaction valued at $10-billion. Newmont will acquire each Goldcorp share for 0.3280 of a Newmont... 

Newmont seeks to become world's biggest gold producer through $10bn Goldcorp buyout
Photo by Bloomberg
Newmont CEO Gary Goldberg

Horizonte’s Brazil project fully permitted to start construction

By: Creamer Media Reporter      14th January 2019 The Brazilian Pará state environmental agency, Semas, has awarded the Araguaia ferronickel project its final permit needed before construction could get under way, dual-listed Horizonte Minerals announced on Monday. The construction licence provides the permits required for the rotary kiln... 

Plateau appoints DRA Global as lead engineering consultancy for Falchani PEA

By: Marleny Arnoldi     14th January 2019 TSX-V-listed Plateau Energy Metals has appointed DRA Global as lead engineer and consultant for the preliminary economic assessment (PEA) for the Falchani lithium project, in Macusani Plateau, in south-eastern Peru. Additionally, DRA Global industry specialist Wardell Armstrong has been... 

Copper Reef raises $500 000 to fund surveys, grid extension at Alberts Lake

By: Marleny Arnoldi     14th January 2019 Canadian Securities Exchange-listed Copper Reef Mining Corporation plans to raise $500 000 through a private placement to fund its grid and surveying activities at the Alberts Lake gold deposit, in Manitoba, Canada. The first tranche of the capital raise will comprise six-million flow-through... 

Nordgold ups stake in JV partner Columbus

By: Creamer Media Reporter      14th January 2019 Aim-listed gold miner Nordgold is set to increase its equity interest in gold exploration and development company Columbus Gold – its joint venture (JV) partner on the Montagne d’Or gold mine project, in French Guiana. According to a news release issued by TSX-listed Columbus, Nordgold will... 

BC Supreme Court approves Pan American’s acquisition of Tahoe Resources

By: Marleny Arnoldi     14th January 2019 TSX- and NYSE-listed Tahoe Resources on Friday reported that the Supreme Court of British Columbia had approved the proposed transaction whereby Pan American Silver Corporation intends to acquire all of Tahoe’s shares. Both companies’ shareholders have approved the transaction, which is set to... 

Endeavour increases Ity mine ownership to 85%

By: Simone Liedtke     11th January 2019 TSX-listed Endeavour Mining has increased its ownership stake in the Ity mine, in Côte d'Ivoire, from 80% to 85%. In exchange for the additional 5% interest in the Ity mine, Endeavour granted DYD International more than one-million common shares amounting to a total consideration of about... 

Surge to create copper/gold spin-off company

By: Marleny Arnoldi     11th January 2019 TSX-V-listed Surge Exploration has approved, in principle, a strategic reorganisation of the company’s assets, in which the company would spin off its interests in the copper/gold Hedge Hog and Mineral Mountain exploration projects in British Columbia, into a newly incorporated subsidiary called... 

Sibanye retains favourable debt covenant 

By: Marleny Arnoldi     11th January 2019 JSE- and NYSE-listed Sibanye-Stillwater on Friday announced that all lenders of its dollar and rand revolving credit facilities (RCF) have agreed to retain the upper limit of the RCF until December 31. The RCF comprises 13 South African and international banks. The upper limit of the RCF is net... 

Sibanye retains favourable debt covenant

Capstone delivers on FY18 copper output guidance

By: Simone Liedtke     11th January 2019 TSX-listed Capstone Mining produced 155.2-million pounds of copper in 2018, in line with expectations, and has set its 2019 output guidance at between 145-million and 160-million pounds of copper at a C1 cash cost of between $1.80/lb and $2/lb. During this year, the Canadian base metals miner... 

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