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Commodity price volatility will prevail as long as trade war threats prevail – BMI

By: Marleny Arnoldi     20th July 2018 Research firm BMI says most commodity prices will remain neutral on a three-month horizon, with the exception of oil prices which it expects to increase. Commodity prices performed poorly over June and July, but BMI believes the downside is limited for now as the drop in sentiment overshot... 

Uranium tariffs threaten nuclear plants Trump is trying to save

By: Bloomberg     20th July 2018 The Trump administration’s decision to consider tariffs on uranium imports may raise the cost of fuel for nuclear reactors and undermine a separate initiative to shore up struggling electricity generators. The Commerce Department said Wednesday it will probe whether uranium imports “threaten to... 

De Beers brings Chidliak resource into its fold with C$107m Peregrine buy

By: Mariaan Webb     19th July 2018 Diamond major De Beers announced on Thursday that it would buy Canadian miner Peregrine Diamonds – the owner of the Chidliak diamond resource in Nunavut Territory – for C$0.24 a share, or C$107-million, in cash. The Chidliak resource, 120 km north-east of Iqaluit on Baffin Island, hosts 74... 

Cameco following US uranium trade investigation ‘closely’

By: Mariaan Webb     18th July 2018 Canadian uranium major Cameco does not expect the Trump administration’s investigation into uranium imports to have an immediate impact on its shipments into the US, but the company’s president and CEO Tim Gitzel said he is following developments “very closely”. He affirmed that Cameco, which is... 

Trudeau moves Sohi to Natural Resources, Carr to head up International Trade Diversification

By: Mariaan Webb     18th July 2018 Canadian Prime Minister Justin Trudeau on Wednesday announced significant changes to his Cabinet, moving around several current Ministers, appointing four new ones and creating three new portfolios. Amarjeet Sohi has been moved from the Infrastructure portfolio to Natural Resources, succeeding... 

US plans uranium import probe that may lead to tariffs

By: Bloomberg     18th July 2018 The Trump administration plans to open an investigation into whether uranium imports are harming national security, a move that could lead to tariffs on foreign shipments of the metal, said three people familiar with the matter. US uranium producers Energy Fuels and Ur-Energy filed a petition in... 

Solid Q2 performance rounds out strong first half for Rio Tinto

By: Esmarie Swanepoel     17th July 2018 Diversified major Rio Tinto has reported increased production in most of its commodities in the second quarter ended June, compared with the previous corresponding period. “Operational performance was solid across most commodities, rounding out a strong first half performance for the group,”... 

The world's biggest miners want more copper but nobody's selling

By: Bloomberg     17th July 2018 It’s the mining world’s biggest dilemma: everyone’s hunting for copper deals, but even the richest producers just can’t pull the trigger. The largest miners all say they’re bullish on copper and looking for growth in the metal that’s forecast to be in ever-greater demand as cities expand and... 

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

By: Martin Creamer     16th July 2018 In an economic environment of tight capital allocation and bank pull back from mining finance, the new tax-incentivised CCP 12J 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... 

McEwen’s operations on track to meet full-year guidance

By: Marleny Arnoldi     16th July 2018 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.  

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... 

Zimbabwe has skills, natural resources to support increasing investment

By: Erin Steenhoff-Snethlage     13th July 2018 Zimbabwe has adequate skilled and unskilled labour to support increasing investment and the expansion of mining operations, claims mining, exploration and development company Caledonia Mining. Caledonia owns the Blanket gold mine in Zimbabwe, one of the few operating gold mines in the country.... 

Bluejay's Dundas may be attractive to Rio Tinto – analysts

By: Mariaan Webb     12th July 2018 The closure of Rio Tinto's South African subsidiary Richards Bay Minerals (RBM) as a result of violent protests this week, may play into the hand of London- and Frankfurt-listed Bluejay Mining, which is developing the Dundas ilmenite project, in Greenland. The project is said to be the... 

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... 

Superior Lake fast-tracks mine restart

By: Esmarie Swanepoel     12th July 2018 Junior base metals developer Superior Lake Resources has announced plans to fast-track the restart of its Superior Lake metals project, in Canada. The ASX-listed company said that following the completion of a maiden Joint Ore Reserves Committee compliant resource of 2.1-million tonnes, grading... 

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... 

Serbian copper miner attracts 11 possible buyers – report

By: Reuters     11th July 2018 Serbia's RTB Bor copper miner and smelter has drawn interest from 11 companies and the tender could take place this week or next, Belgrade daily Politika reported on Wednesday. Serbia has tried and failed three times since 2007 to sell the debt-laden mining complex, which suffered a long period... 

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... 

Kirkland Lake’s Yee joins Eldorado as finance chief

By: Mariaan Webb     11th July 2018 Gold and base metals producer Eldorado Gold has appointed Kirkland Lake’s Philip Yee as executive VP and CFO with effect from September this year. Announcing the appointment on Tuesday, Eldorado president and CEO George Burns said Yee would strengthen the company’s leadership team. “Phil brings... 

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... 

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. 

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... 

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.  

Shell ramps up in Kitimat, raising Canada’s C$40bn LNG hopes

By: Bloomberg     9th July 2018 A flurry of activity in a remote Canadian town is raising optimism that Royal Dutch Shell and its partners are ready to go ahead with the nation’s largest infrastructure project: a C$40-billion liquefied natural gas terminal that could at last unlock energy exports to Asia. The action is... 

Copper's collapse tops $1 000 as Trump picks a fight with China

By: Bloomberg     6th July 2018 Copper’s flashing a powerful warning about expectations for economic growth after US President Donald Trump chose to embark on a major escalation of his administration’s global trade war, imposing tariffs on $34-billion of imports from China, which vowed to respond in kind. The metal has lost... 

First-quarter global copper production up 7.1%

By: Nadine James     6th July 2018 Global mined copper production is estimated to have increased by 7.1% in the first quarter of 2018, with concentrate production rising by 7% and solvent extraction-electrowinning (SX-EW) by 7.3%, the International Copper Study Group (ICSG) reported in its Copper Bulletin, last month. The ICSG... 

Bacanora secures $150m debt for Mexico lithium project

By: Marleny Arnoldi     5th July 2018 The Sonora lithium project is one step closer to fruition with Bacanora Lithium on Thursday announcing that it had secured $150-million in debt for the development of Stage 1 of the Mexico mine.  

Nemaska signs 7 000 t/y lithium offtake agreement with LG Chem

By: Marleny Arnoldi     4th July 2018 Canada’s Nemaska Lithium and Korean chemical company LG Chem have signed an offtake agreement that provides for the supply of battery grade lithium hydroxide by Nemaska to LG.  

Operations to resume at Stornoway's Renard

By: Creamer Media Reporter      4th July 2018 Quebec diamond miner Stornoway Diamond Corp will remobilise its staff to the Renard mine and resume full operations on Wednesday, after rainfall and a shifting of prevailing winds have allowed wildfires to be contained. The company ceased operations on Monday as a safety precaution, after fires... 

Commodities face a twin threat, Morgan Stanley says

By: Bloomberg     29th June 2018 Commodities face a twin threat in the coming months, according to Morgan Stanley, which flagged burgeoning risks to consumption from a potential escalation in global trade tensions, especially for metals, as well as any slowdown in China. “Escalating global trade tensions bring a risk of demand... 

Kyrgyzstan's Parliament to review Centerra agreement in Sept

By: Reuters     29th June 2018 Kyrgyzstan's Parliament will review in September an agreement that settles mutual claims with Canada's Centerra Gold, after which environmental payments by the company might grow, Parliament speaker Dastan Jumabekov said on Friday. The Central Asian nation's government and Centerra, which... 

Rio Tinto ready to splash out on copper

By: Reuters     29th June 2018 Rio Tinto wants copper badly, and it's ready to pay top-dollar. The global miner would be willing to fork out a large premium over market value to secure a prime asset as it tries to reduce its reliance on iron ore, company and banking sources told Reuters. 

Bathurst signs up for Jameson's Canadian coal project

By: Esmarie Swanepoel     29th June 2018 ASX-listed junior Jameson Resources has reached an agreement with fellow listed coal miner Bathurst Resources to fund the development of the Crown Mountain coking coal project, in Canada. Bathurst will provide an initial C$4-million investment into Jameson’s Canadian subsidiary NWP Coal Canada,... 

Slim's Minera Frisco, Goldcorp agree tie-up in Mexico

By: Reuters     29th June 2018 Minera Frisco, a mining company controlled by Mexican tycoon Carlos Slim, said on Thursday it had struck an exploration agreement in Mexico with a local unit of Canada's Goldcorp in which the two would be equal partners. The agreement was to explore for, and if possible, exploit minerals in... 

COLOURED GEMSTONE MINING:

By: Martin Creamer     29th June 2018 The pace of coloured gemstone mining is quickening in several parts of the world, including in Colombia, where this picture shows mineworkers extracting emeralds at Mineria Texas Colombia Puerto Arturo, in Muzo. In April, the Canada-listed Fura Gems restarted coloured gemstone mining at Coscuez... 

Trump trade war looms over Canadian town built to supply America

By: Bloomberg     28th June 2018 If ever a town embodied US-Canadian symbiosis, it’s Arvida, Quebec. Built by Americans, its giant smelter supplied most of the Allied forces’ aluminum in World War II and today makes metal used in Budweiser beer cans, Tesla and Ford cars and in AR15 rifles, part of the 2.5-million metric tons... 

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