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Centerra reports production results, sets guidance for 2019

By: Mariaan Webb     16th January 2019 Midtier miner Centerra Gold produced 729 556 oz of gold in 2018, a 7% decrease from that of 2017, but above the company’s guidance of 665 000 oz to 705 000 oz for the year. Centerra, which operates the water-constrained Mt Milligan mine, in British Columbia, and the Kumtor mine, in Kyrgyzstan,... 

Pacific American Coal increases Elko resource

By: Esmarie Iannucci     16th January 2019 Coal developer Pacific American Coal has reported an 18% increase in the Joint Ore Reserves Committee compliant resource of its Elko coking coal project, in British Columbia. The project is now estimated to host some 303-million tonnes of coal, with 117-million tonnes of the resource classified... 

IDM wins environmental approval for Red Mountain

By: Creamer Media Reporter      15th January 2019 Canada’s Environment and Climate Change Minister Catherine McKenna has announced an environmental decision for the underground gold and silver mine that IDM Mining is proposing near Stewart, British Columbia. The Minister said that the proposed mine was not likely to cause significant adverse... 

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... 

Barrick Gold's new CEO dismisses Canada HQ debate as 'hysteria'

By: Bloomberg     11th January 2019 Barrick Gold’s new CE is surprised by the “hysteria” over whether the world’s largest gold miner will remain a Canadian company. Barely a week after his Channel Islands-based Randgold Resources merged with Barrick, Mark Bristow says he’s determined to keep the global miner headquartered in... 

Pretium Resources achieves strong FY18 production

By: Tasneem Bulbulia     10th January 2019 Pretium Resources recorded strong gold production at its Brucejack underground mine, in British Columbia, in 2018. The mine produced 376 012 oz gold for the full-year – just below guidance of 387 000 oz. 

Pan American Silver’s Tahoe buyout gets shareholder nod

By: Simone Liedtke     9th January 2019 TSX- and NYSE-listed Tahoe Resources’ shareholders have approved the proposed buyout of the company by Pan American Silver. Pan American’s shareholders, in turn, have approved resolutions related to the transaction, including the issue of common shares to Tahoe shareholders. 

Ascot Resources to acquire IDM Mining

By: Tasneem Bulbulia     8th January 2019 IDM Mining and Ascot Resources have entered into a definitive arrangement agreement that will result in Ascot acquiring all of the issued and outstanding common shares of IDM. Each IDM shareholder will be entitled to receive 0.0675 of a common share in Ascot for each share in IDM held. 

Imperial Metals halts Mount Polley operations amid copper price slump

By: Marleny Arnoldi     8th January 2019 TSX-listed Imperial Metals Corporation has suspended operations at its Mount Polley mine, in Canada’s British Columbia province, owing to declining copper prices. The suspension plan of the mine includes milling of low-grade stockpiles, which should extend the operations to the end of May.  

If you can't pipe it, refine it: Alberta seeks oil glut solution

By: Bloomberg     7th January 2019 What’s worse: Too much oil, or too much gasoline? The government of Alberta, weighing the potential of a new refinery for the province, may be on its way to finding out. In 2018, surging crude production in the Canadian province ran into limited space on export pipelines, creating bottlenecks and... 

Teck invests in British Columbia’s Stardust project

21st December 2018 Canada’s largest diversified mining company, Teck Resources, has invested $3.5-million in TSX-V-listed junior Sun Metals, which is advancing the Stardust project, in north-central British Columbia. The major on Thursday bought 12.5-million shares of Sun Metals at $0.28 a share, giving it a 13.8%... 

Imperial Metals hires BMO to speed up restructuring – sources

By: Reuters     15th December 2018 Canadian copper producer Imperial Metals has hired Bank of Montreal (BMO) to speed up a restructuring process that could include the sale of the company for up to $1-billion, two sources familiar with the matter said. Imperial Metals, backed by Canadian billionaire Murray Edwards, earlier this... 

Shipping delay hits Copper Mountain Q3 results

By: Creamer Media Reporter      1st November 2018 The share price of Vancouver-based miner Copper Mountain fell to a 52-week low on Wednesday, after the company posted a third-quarter adjusted loss of C$8.31-million, after a shipping delay and lower prices hit revenue. The company explained that its revenue fell from C$77.15-million in the... 

IDM sinks drills at Red Mountain

By: Creamer Media Reporter      17th October 2018 TSX-V-listed IDM Mining is back drilling at the Red Mountain mine, west of Stewart, British Columbia, announcing on Tuesday that two core rigs had started operating at the underground project, An estimated 7 600 m in over 30 holes are planned for the exploration programme, which will test four... 

Centerra sells Mongolia mine and project for $35m

By: Mariaan Webb     15th October 2018 Canada-based Centerra Gold has sold its Mongolian business unit to private equity firm OZD Asia for $35-million, in a move that CEO Scott Perry describes as a portfolio enhancement. The company’s Mongolia assets include the Boroo mine and processing plant, as well as the Gatsuurt project. 

Copper Mountain production in line with expectations

By: Creamer Media Reporter      12th October 2018 The Copper Mountain mine, in southern British Columbia, performed in line with expectations in the quarter ended September 30, producing 18.3-million pounds of copper 7 500 oz of gold and 64 900 oz of silver. The company has guided that the third-quarter copper production would be 10% lower than... 

Coeur maintains guidance despite lower Q3 output

By: Mariaan Webb     10th October 2018 NYSE-listed miner Coeur Mining has maintained its production guidance for the year, despite reporting lower third-quarter production results, at 8.5-million ounces of silver equivalent. The company, which owns mines in Mexico, the US and Canada, produced 2.9-million ounces of silver, 88 833 oz... 

Brucejack Q3 gold output up 13%

By: Mariaan Webb     9th October 2018 TSX- and NYSE-listed Pretium Resources increased its gold production at the Brucejack mine, in British Columbia, by nearly 13% in the third quarter, standing the company in good stead to meet its second-half production guidance. The mine produced 92 641 oz of gold in the third quarter, which... 

Provincial enviro nod for IDM’s Red Mountain

By: Mariaan Webb     8th October 2018 The Red Mountain gold and silver underground mine, in the Nass Wildlife area of British Columbia, is one step closer to development, with the provincial government granting the project environmental approval. Environment and Climate Change Strategy Minister George Heyman and Energy, Mines and... 

Pretivm refinances Brucejack construction loan

By: Creamer Media Reporter      4th October 2018 Intermediate gold producer Pretivm Resources has secured a commitment letter to refinance the Brucejack construction credit facility, ticking another milestone set out for the year, CEO Joseph Ovsenek announced on Thursday. The commitment letter provides for a fully underwritten $480-million... 

Shell LNG, trade deal no help to stalled Trans Mountain pipeline

By: Bloomberg     4th October 2018 Royal Dutch Shell’s commitment to invest in the largest private-sector project in Canada’s history and a new trade deal with the US and Mexico show the country is open for business again. But neither are likely to help Trans Mountain, the troubled oil pipeline project that has epitomized the... 

Study confirms ‘quality, size’ of Copper Mountain’s Eva

By: Esmarie Iannucci     2nd October 2018 Dual-listed Copper Mountain Mining has estimated that its Eva copper project, in Queensland, would require a capital investment of $350-million to develop. A feasibility study, results of which were announced on Tuesday, found that the project would produce 334-million tonnes of ore and waste... 

Geoscience BC releases map data on Greenwood

By: Marleny Arnoldi     1st October 2018 Earth science information organisation Geoscience BC has released a new geological map and data, which is the latest in a series of research projects to encourage mineral exploration in the regional district of Kootenay Boundary in southern British Columbia. The 1:50 000 scale “Geology of the... 

Copper Mountain publishes PEA for deposit adjacent to flagship mine

By: Mariaan Webb     28th September 2018 The New Ingerbelle property, located about one kilometre from the Copper Mountain mine, in southern British Columbia, is a strong candidate to be incorporated into the current mine’s plan aimed at increasing yearly production. The New Ingerbelle deposit is expected to produce 768-million pounds... 

IDM's Red Mountain entering final enviro assessment stage

By: Mariaan Webb     21st September 2018 The Canadian Environmental Assessment Agency (CEA) has initiated the final stage of the Red Mountain gold project environmental assessment process, inviting public comment on the draft report and potential conditions that will be applied. The draft comment period runs until October 18, and a... 

ASX-hopeful Montem to develop Canada coking coal projects

By: Creamer Media Reporter      19th September 2018 Montem Resources, a company with coking coal development projects in Canada, has announced its planned initial public offering (IPO) and listing on the ASX as it seeks to shore up funding for its brownfield projects in Alberta and British Columbia. The company has lodged its prospectus the... 

Imperial exploring ‘strategic alternatives’ as it restructures

By: Mariaan Webb     18th September 2018 Troubled Vancouver-based Imperial Metals Corporation has embarked on a restructuring process, which will entail exploring “all strategic alternatives” for the company, the owner of the Red Chris, Mount Polley and Huckleberry copper and gold mines in British Columbia announced on Monday.... 

Centerra secures short-term water sources for Mt Milligan

By: Mariaan Webb     14th September 2018 British Columbia regulators have granted TSX-listed Centerra Gold approval to pump additional water – although limited volumes – for its Mount Milligan mine. The approvals, which were received earlier than anticipated, allow Centerra to pump from groundwater wells within Mount Milligan’s... 

De Beers wraps up Canada acquisition

By: Creamer Media Reporter      13th September 2018 Anglo America’s De Beers has completed the C$107-million acquisition of Peregrine Diamonds, with the TSX-listed company set to be delisted at the end of trading on Friday. The acquisition, announced in July, was approved by Peregrine securityholders on August 31 and by the Supreme Court of... 

Viceroy says it's shorting Canadian miner Pretium Resources

By: Bloomberg     6th September 2018 Viceroy Research said it’s shorting Pretium Resources, arguing the company has artificially inflated the value of its Canadian gold mine, which risks being taken over by creditors in coming months. The New York-based short seller – which rose to prominence last year with research into financial... 

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... 

Peregrine holders approve De Beers deal

By: Creamer Media Reporter      3rd September 2018 The takeover of Peregrine Diamonds by De Beers is expected to close on September 12, the TSX-V-listed junior said on Friday, announcing that its security holders have approved the plan of arrangement between the companies. In terms of the arrangement, announced in July, the Anglo American unit... 

Trudeau’s grand bargain unravels after Alberta nixes carbon plan

By: Bloomberg     31st August 2018 Canada’s precarious relationship with its vast oil riches flared up again Thursday after a federal court struck down Prime Minister Justin Trudeau’s approval of a key pipeline, reviving fears about the country’s ability to get its resources to market. While the government pledged to press ahead... 

Greenhills operations, Canada

By: Sheila Barradas     31st August 2018 A metallurgical coal mine in the East Kootenay region of south-eastern British Columbia, in Canada. 

IDM’s Red Mountain referred to provincial Ministers for decision

By: Creamer Media Reporter      30th August 2018 Vancouver-based IDM Mining is one step closer to building British Columbia’s next underground gold mine, with the Environmental Assessment Office having referred the Red Mountain project’s environmental certificate application to provincial Ministers for a decision. The Minister of Environment... 

New Prosperity ruling important for future BC resource projects – Taseko CEO

By: Mariaan Webb     29th August 2018 Last week’s Supreme Court of British Columbia ruling denying a First Nation’s legal challenge seeking to overturn an exploration permit for the New Prosperity project is seen as important for future resource projects in the province, base metals miner Taseko Mines president and CEO Russell... 

Teck idles lead smelting due to BC wildfires

By: Reuters     24th August 2018 Canadian diversified miner Teck Resources said on Thursday that lead smelting at its Trail, British Columbia facility was suspended for a fourth day due to wildfires in the province. Teck temporarily shut down lead smelting on Sunday because the flash smelting technology requires high-purity... 

Lumina Gold spins out Luminex

By: Mariaan Webb     22nd August 2018 Shareholders in TSX-V-listed Lumina Gold have voted in favour of spinning out the company’s assets, other than the Cangrejos project, in Ecuador, into Luminex Resources, which will be listed on the same stock exchange. Luminex will hold all the concessions and properties previously held by... 

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