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Gold bull McEwen sticks with his $5 000 call as pot stocks peak

By: Bloomberg     18th January 2019 Gold mining veteran Rob McEwen is nothing if not optimistic. The founder of Goldcorp is sticking with his bold prediction that the precious metal will soar almost fourfold to $5 000/oz, bolstered by a weaker dollar and waning demand for trendy assets like pot stocks. 

Trevali’s African operations deliver strong FY18 performance

By: Tasneem Bulbulia     18th January 2019 Trevali Mining, in its first full year of operating in Africa, increased production at both Perkoa, in Burkina Faso, and Rosh Pinah, in Namibia, over 2017 levels. “Despite challenges faced at Caribou, [in Canada], Trevali produced 407-million pounds of payable zinc in 2018, in-line with our... 

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... 

Alcoa beats profit estimates on strength in alumina segment

By: Reuters     17th January 2019 Top US aluminum producer Alcoa Corp beat Wall Street estimates for quarterly profit on Wednesday, buoyed by strength in its alumina segment, but shares slipped after the company did not provide a closely watched profit measure for the full year. The company's shares were down 1.6% in extended... 

Iamgold meets guidance, says Cote decision expected in Q1

By: Mariaan Webb     17th January 2019 Midtier miner Iamgold produced 231 000 oz in the fourth quarter of 2018, bringing the year’s production to 882 000 oz, comfortably meeting its guidance of 850 000 oz to 900 000 oz. In a preliminary production announcement, the company said on Wednesday that it had a record production year at its... 

Gold veteran says bigger may not be better as M&A blitz hits

By: Bloomberg     16th January 2019 The $15-billion flurry of deal-making that will super-size the gold industry’s leading producers is no guarantee of better performance, according to an Australian miner who’s been outpacing larger competitors. Rising gold prices and a hunt to boost additional reserves of the precious metal have... 

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... 

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... 

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... 

Alamos lifts FY18 output by 18% y/y

By: Tasneem Bulbulia     15th January 2019 Alamos Gold produced 505 000 oz of gold in 2018, meeting its guidance and marking an 18% year-on-year increase. “This was driven by strong performances from Mulatos [,in Mexico] and Island Gold [,in Canada], the latter setting a new record for production and continuing to demonstrate strong... 

Newmont deal for Goldcorp erodes Canada's gold clout further

By: Bloomberg     15th January 2019 Canada’s influence on the global mining industry appears to be shrinking by the day. Perhaps stung by the nationalistic backlash against Barrick Gold Corp's merger with Randgold Resources, Newmont Mining devoted a big chunk of its news release Monday explaining how its $10-billion offer for... 

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... 

Value-chain relationship rebuild essential for platinum group metals’ survival – Ritchken 

By: Martin Creamer     10th January 2019 The rebuilding of key strategic relationships across the value chain of the platinum group metals (PGMs) sector is essential for the survival of the industry, Mining Phakisa coordinator Edwin Ritchken states in the book The Future of Mining in South Africa: Sunset or Sunrise, published by the... 

Chile's Collahuasi plans resource sharing with Canada's Teck Resources

By: Reuters     10th January 2019 Chile's Collahuasi copper mine is talking to Canada's Teck Resources Ltd about resource-sharing as the two companies embark on ambitious expansion projects, its Chief Executive Jorge Gomez said on Wednesday. Collahuasi - owned by Glencore and Anglo American - is seeking "synergies" with companies... 

Tiffany CEO says it's his 'duty' to reveal diamonds' provenance

By: Bloomberg     9th January 2019 Tiffany & Co. is telling consumers where its diamonds come from as the jeweler tries to become more transparent in a notoriously opaque industry. Its top executive says the change was imperative. “This is a topic that has become more and more relevant for new generations,” Chief Executive Officer... 

BP awaits BHP decision on Atlantis spend

By: Esmarie Iannucci     9th January 2019 Energy giant BP has approved a $1.3-billion expansion of its Atlantis field, in the Gulf of Mexico. The Atlantis Phase 3 development will include the construction of a new subsea production system from eight new wells that will be tied into the current plantform, off the US coast. 

New Gold produces solid gold, copper output for 2018

By: Marleny Arnoldi     9th January 2019 TSX- and NYSE-listed New Gold produced 110 559 oz of gold in the fourth quarter of 2018, taking full-year production to 455 448 oz. Production was supported by the Rainy River and New Afton mines, in Canada. The Rainy River mine reported its best-ever quarterly gold production of 77 202 oz in the... 

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. 

Updated resource estimate significantly increases Landore’s BAM gold resource tonnages

By: Tasneem Bulbulia     8th January 2019 An updated mineral resource estimate on the BAM gold deposit at London-listed Landore Resources’ Junior Lake Property, in Ontario, Canada, has significantly increased the deposit’s gold resource to 28.83-million tonnes at 1.03 g/t gold for 951 000 oz of gold, including 20.20-million tonnes at... 

Spearmint increases footprint in Canadian vanadium district

By: Simone Liedtke     8th January 2019 Canadian junior resource exploration company Spearmint Resources has increased its acreage in the Chibougamau vanadium district, in Canada, to 13 985 contiguous acres upon receiving preliminary airborne data. The company is encouraged by the preliminary data from the airborne surveys and is... 

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.  

Atrum increases Canadian resources

By: Esmarie Iannucci     8th January 2019 ASX-listed Atrum Coal has reported a 170% increase in the Joint Ore Reserves Committee- (Jorc-) compliant resource estimate at its Elan South deposit, in Alberta, Canada. The Elan South deposit is now estimated to host some 97-million tonnes of resource, up from the previous estimate of... 

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... 

First Quantum plans 2 500 layoffs in Zambia over tax hikes

By: Reuters     21st December 2018 Canada's First Quantum Minerals (FQM) said on Friday that it would lay off 2 500 workers in Zambia over plans by Africa's No.2 copper producer to hike mining taxes. The southern African country plans to introduce new mining duties, replace value-added tax (VAT) with a sales tax and increase... 

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... 

Miners find chicken-egg sized diamond in Canada's frozen north

By: Bloomberg     14th December 2018 The biggest diamond ever found in North America has been unearthed by Dominion Diamond Mines and Rio Tinto Group at a mine in Canada’s frozen north. The 552 ct yellow gem was found at the Diavik mine in the Northwest Territories, and is almost three times the size of the next largest stone ever... 

Barrick Gold eyes assets, exploration as it plots new phase 

By: Bloomberg     17th November 2018 Barrick Gold, soon to become the world's largest bullion miner, is interested in adding more copper assets as long as the red metal is accompanied by bullion, executives said on Friday. Barrick, which expects to complete its $6.1-billion takeover of Randgold Resources January 1, outlined plans... 

Iamgold says growth projects robust as third-quarter output slips

By: Mariaan Webb     7th November 2018 Canada-based Iamgold has a robust pipeline of development projects and is looking to bolster its credit facility to facilitate its growth strategy, president and CEO Steve Letwin said on Tuesday, after reporting lower third-quarter production and revenue. The company, which operates mines in the... 

Diamond industry’s confidence in XRT sorting growing

2nd November 2018 X-ray transmission (XRT) technology has ushered in a new era for diamond recovery, with an increasing number of mining companies embracing the technology and scaling back on the use of conventional technologies, such as dense-media separation, for the treatment of middle- and coarse-sized... 

Encana to acquire shale oil producer Newfield for $5.5bn

By: Bloomberg     1st November 2018 After years of slimming down its oil and gas holdings, Canada’s Encana is reversing course with a $5.5-billion acquisition of a US shale producer in what will be the company’s biggest-ever deal. Encana agreed to purchase Newfield Exploration, which will give it positions in the Stack and Scoop... 

Mining veteran wants to build a $1bn battery metals giant

By: Bloomberg     1st November 2018 South African mining veteran Brian Menell wants to build a battery material giant to help challenge China’s domination of the nascent industry. It’s still early days for his privately funded company, TechMet, which controls just a handful of assets from Canada to Rwanda. But he’s raising more... 

Global gold demand growing across market segments, held back by US ETF outflows

By: Marleny Arnoldi     1st November 2018 World Gold Council (WGC) member and market relations head John Mulligan says the third quarter was a strong one for the global gold industry. Although demand increased by only 1%, or 6 t, compared with the third quarter 2017, the 964 t of gold demand recorded in the third quarter was underpinned... 

New research finds developing countries’ coal miners face ‘substantial risk inequality’  

By: Tasneem Bulbulia     31st October 2018 Coal miners in developing countries are likely to be exposed to health and safety risks more often than those working in advanced economies, new research has found. Researchers from Cardiff University, funded by the Institution of Occupational Safety and Health (IOSH), have found that a lack of... 

Kirkland Lake positioned for a ‘strong finish’ to 2018

By: Creamer Media Reporter      31st October 2018 Mid-tier gold producer Kirkland Lake is positioned for a strong finish to the year, president and CEO Tony Makuch said on Tuesday, announcing another revision to the company’s production guidance for 2018. The miner, which operates in Canada and Australia, increased its full-year guidance to... 

TPP-11 to give Australian resources a major boost – Minerals Council

By: Esmarie Iannucci     31st October 2018 PERTH (miningweekly.com) – The Australian government has ratified the Trans-Pacific Partnership (TPP-11) trade agreement, a move that has been welcomed by the resources sector. Australia is the sixth country to ratify the agreement, meaning it can now enter into force on December 30, with... 

Alacer gears up for Çöpler autoclave start-up

By: Mariaan Webb     30th October 2018 Turkey-focused, Canada-incorporated Alacer Gold has marked a “significant step change” in the third quarter, as its cornerstone organic growth initiative, the sulphide expansion project at its Çöpler mine, in Turkey, was brought on line and is now being prepared for first autoclave start up. In... 

Volatility in global base metals industry to remain, but outlook stable – Moody’s

By: Marleny Arnoldi     30th October 2018 Financial services firm Moody’s Investor Service has a stable outlook for the global base metals industry over the next 12 to 18 months, although indications are that economic growth rates may have peaked. The firm said in a release on Tuesday that synchronised economic growth rates in 2018,... 

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