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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... 

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... 

Newmont cuts 120 jobs at Nevada gold mining operation

By: Reuters     11th January 2019 Newmont Mining Corp, the world's No. 2 gold producer, is cutting 120 jobs at its Carlin mining operation in Nevada after deciding to reduce the life span of one mine and suspending part of another due to a wall slide, a spokesman said on Thursday. The Denver, Colorado-based company announced the... 

Americas Silver, Pershing Gold shareholders approve business combination

By: Tasneem Bulbulia     10th January 2019 Americas Silver and Pershing Gold on Wednesday announced that their respective shareholders had given the requisite approvals for the merger of the two companies. Americas Silver shareholders approved a special resolution to amend the company’s articles of incorporation to create a new class of... 

Sunrise Resources raises £350 000

By: Tasneem Bulbulia     9th January 2019 Aim-listed Sunrise Resources has raised £350 000 before expenses, through a conditional placing of 291.67-million shares at a price of 0.12p apiece, representing a discount of about 14% to the closing mid-market price on January 8. The net funds raised will be applied primarily to the company’s... 

Barrick's new CEO says gold industry shake-up is just starting

By: Bloomberg     4th January 2019 Barrick Gold Corp.’s new chief executive officer has a message for the gold industry: This is just the start of a big shake-up. Barrick agreed to buy smaller rival Randgold Resources Ltd. in a $5.4-billion deal announced in September. As part of the agreement, Randgold’s CEO, Mark Bristow,... 

Tahoe Resources loss less then forecast but wider than last year

By: Reuters     7th November 2018 Tahoe Resources Inc posted a quarterly loss on Tuesday that was less then Wall Street expected although it widened from a year earlier, while the gold and silver miner predicted that its production for the year would be at the low end of guidance. Tahoe's Escobal silver mine in Guatemala, the... 

Leagold says Santa Luz restart requires $82m

By: Creamer Media Reporter      26th October 2018 Vancouver-based Leagold has completed an updated feasibility study for the Santa Luz project that it acquired in the recent Brio takeover, which demonstrates the potential for restarting 100 000 oz/y mine at a cost of $82-million. However, the company’s first priority remains to optimise its... 

Merged Barrick-Randgold eyes nine tier-one gold assets 

By: Mariaan Webb     26th October 2018 Gold major Barrick Gold chairperson John Thornton has urged shareholders to vote in favour of its $6.1-billion transaction with Africa-focused Randgold Resources, telling investors that the combined entity will have five of the world’s ten so-called tier-one assets and that this could be expanded... 

Impending Barrick-Randgold tie-up to create a major force in gold sector

By: Rebecca Campbell     26th October 2018 The merger between Barrick Gold (domiciled in Canada and dual-listed on the New York and Toronto Stock Exchanges) and Randgold Resources (domiciled in Jersey and dual-listed on the London and Nasdaq Stock Exchanges), announced last month and still awaiting shareholder and regulatory approvals,... 

Newmont adjusted income falls on lower prices, production

By: Mariaan Webb     25th October 2018 Colorado-based Newmont Gold on Thursday reported weaker adjusted net income of $175-million, as its revenue decreased along with gold prices and lower production at various sites. The third-quarter income adjusted for impairments and a write-down in North America, came to $0.33 a diluted share,... 

Barrick takes $405m write-down on Peru mine, adjusted earnings fall

By: Mariaan Webb     25th October 2018 Gold major Barrick Gold, which has agreed to a $6.1-billion deal to buy Randgold Resources, has posted a third-quarter net loss of $412-million, or $0.35 a share, reflecting a $405-million impairment charge at the Lagunas Norte mine, in Peru. The net loss is significantly wider than the... 

Hecla says Q3 output meets expectations

By: Mariaan Webb     24th October 2018 US silver and gold producer Hecla Mining produced lower third-quarter silver production of 2.5-million ounces and gold output of 72 995 oz, but the miner stated on Tuesday that the production was in line with its expectations. Silver production fell by 24% year-on-year in the September quarter,... 

Backed by positive PFS, Global to enter offtake discussions for Nevada lithium mine

By: Esmarie Iannucci     23rd October 2018 The Rhyolite Ridge lithium/boron project, in Nevada, could be in production by 2021, delivering 20 200 t/y of lithium carbonate and 173 000 t/y of boric acid. ASX-listed Global Geoscience on Tuesday reported that a prefeasibility study (PFS) into the Rhyolite Ridge project had estimated initial... 

Gold merger will create industry 'superpower'

By: Rebecca Campbell     19th October 2018 The merger between Barrick Gold (domiciled in Canada and dual-listed on the New York and Toronto stock exchanges) and Randgold Resources (domiciled in Jersey and dual-listed on the London and Nasdaq stock exchanges), announced last month and still awaiting shareholder and regulatory approvals,... 

Coeur buys Alio Gold's ‘noncore’ Nevada assets for $19m

By: Mariaan Webb     16th October 2018 NYSE-listed Coeur Mining is expanding its footprint in Nevada, announcing on Tuesday that it would buy a property package adjacent to its Rochester operation from Alio Gold, which deemed the Lincoln Hill, Wilco and Gold Ridge projects as noncore. In terms of a definitive agreement, Coeur Mining... 

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... 

Cypress and Dajin to pursue Nevada lithium JV

By: Creamer Media Reporter      4th October 2018 TSX-V-listed Cypress Development is eyeing a prospect near its Clayton Valley lithium project, announcing on Wednesday that it could potentially earn a 50% interest in fellow-listed Dajin Resources’ Alkali Spring Valley property. Spring Valley is about 12 km north-east of Cypress’ Clayton Valley... 

Coeur completes Northern Empire acquisition

By: Creamer Media Reporter      2nd October 2018 NYSE-listed Coeur Mining has wrapped up the acquisition of Northern Empire Resources, bolstering its project pipeline. Northern Empire’s principal asset is the fully permitted, past producing Sterling gold mine, which has an inferred gold resource of about 709 000 oz averaging at 2.23 g/t. The... 

Relief Canyon ‘next leg of growth’ for Americas Silver

By: Mariaan Webb     1st October 2018 The announcement on Monday of a business combination of silver miner Americas Silver and emerging gold producer Pershing Gold is providing a “clear path” to the development of the Relief Canyon openpit gold mine, in Nevada. The increased financial and operating capabilities of the combined... 

Inferred resource estimate released for Iron Creek cobalt project

By: Mariaan Webb     27th September 2018 The Iron Creek cobalt project in Idaho, US, has received its first NI 43-101-compliant inferred mineral resource estimate, TSX-V and ASX-listed First Cobalt announced on Wednesday. The inferred mineral resource is estimated at 29.6-million tons (26.9-million tonnes) grading 0.11% cobalt... 

New Canada lithium production planned for 2020

By: Mariaan Webb     26th September 2018 The Authier lithium project in Quebec, Canada, has the potential to enter into production in 2020, producing 1.58-million tonnes a year of spodumene concentrate over 18 years, project developer Sayona Mining reported this week. Announcing the outcomes of the definitive feasibility study (DFS),... 

Newmont's CEO rejects talk of bids for Barrick, Randgold

By: Bloomberg     26th September 2018 Newmont Mining CEO Gary Goldberg squashed speculation that Barrick Gold’s offer for Randgold Resources would tempt Newmont to make its own play. When asked about the speculation that’s been raised since the Barrick-Randgold merger was announced on Monday, Goldberg referenced past attempts at... 

Barrick's Randgold acquisition may spur more gold mining deals

By: Bloomberg     25th September 2018 Gold miners earned the ire of investors including billionaire hedge-fund manager John Paulson for entering into bad deals that destroyed shareholder value in the past. Shareholders of the two companies announcing a merger Monday signaled they think this time may be different. 

Chinese lithium giant agrees three-year pact to supply Tesla

By: Bloomberg     21st September 2018 China’s top producer of lithium, a metal used in electric-vehicle batteries, said it’s agreed a deal with Tesla Inc. to supply a fifth of its production to the vehicle maker, highlighting the push for supply pacts. Tesla will designate its battery suppliers to buy lithium-hydroxide products from... 

Tahoe Resources' Guatemalan unit announces new round of layoffs

By: Reuters     18th September 2018 The Guatemalan unit of US miner Tahoe Resources laid off an additional 169 workers on Monday, two weeks after the country's top court kept in place a more than 14-month suspension of operations at the company's Escobal silver mine. The layoffs at Minera San Rafael, Tahoe's local unit, now total... 

Barrick to eliminate innovation role under decentralisation

By: Reuters     13th September 2018 Barrick Gold Corp will eliminate the executive role of chief innovation officer (CIO) as part of a broad decentralization push, the company said on Wednesday, adding that it will continue to work on innovation and productivity improvements. Barrick did not officially announce the change, which... 

Global Energy sets sight on US cobalt project

By: Mariaan Webb     12th September 2018 Cobalt-focused Global Energy Metals is set to acquire a past-producing mine and project that are about 150 km from the gigafactory that electric vehicle manufacturer Tesla is building in Sparks, Nevada. Global Energy, which already owns the Werner Lake cobalt mine in Ontario, Canada, and an... 

Nevada Copper takes fresh look at Pumpkin Hollow openpit

By: Mariaan Webb     11th September 2018 TSX-listed Nevada Copper, which last month moved into full-scale construction mode at its first underground mine, has delivered a study to show the potential for a standalone openpit mine at Pumpkin Hill, in the US. An existing technical report for Pumpkin Hollow contemplates two potential... 

Tahoe aims to work 'in good faith' to restart Guatemala mine 

By: Reuters     10th September 2018 Tahoe Resources will work closely with Guatemalan officials and locals to resolve a dispute and resume operations at its flagship Escobal silver mine, one of the world's largest, CEO Jim Voorhees said on Monday. Guatemala's Constitutional Court last week upheld the suspension of licenses at... 

McEwen reports encouraging exploration results from Canada, US projects

By: Marleny Arnoldi     7th September 2018 NYSE- and TSX-listed precious metals producer McEwen Mining has reported an updated mineral resource estimate for the Froome deposit and “highly encouraging” exploration results from its ongoing $15-million exploration programme at the Black Fox Complex, in Ontario, Canada. The Froome indicated... 

Thor hopes to kickstart US tungsten production

By: Esmarie Iannucci     7th September 2018 A scoping study into the Pilot Mountain tungsten project, in Nevada, has found that the project could support a yearly throughput of 650 000 t over a 12-year operational life to generate 1 000 t/y of scheelite in concentrate, ASX- and Aim-listed Thor Mining said on Friday. The Desert Scheelite... 

Positive PEA results for Nevada lithium project

By: Tasneem Bulbulia     6th September 2018 TSX-V-listed Cypress Development has announced positive results from a preliminary economic assessment (PEA) of the company’s Clayton Valley lithium project in Nevada, US. Prepared by Colorado-based engineering services firm Global Resource Engineering, the PEA focuses on a mine producing an... 

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... 

Australian gold production on the rise

3rd September 2018 Australian gold production in the 2017/18 financial year was its highest since 1997/98, totaling 310 t, mining consultancy Surbiton Associates has reported. In the three months to June, gold production reached 81 t, a 9%, or 6.5 t increase on the previous quarter, and 8%, or 6 t more than the... 

M&R upbeat on prospects for mining unit amid commodity cycle ‘upturn’

By: Terence Creamer     30th August 2018 Engineering and construction group Murray & Roberts (M&R) is upbeat about prospects for its strong-performing underground mining unit, which was the biggest contributor to the group’s 2018 financial performance, as well as to the growth in the JSE-listed company’s R30-billion order book. The... 

Nevada project produces premium quality boric acid

By: Creamer Media Reporter      28th August 2018 Australia-based mine developer Global Geoscience on Tuesday announced that it had produced premium quality boric acid from its Rhyolite Ridge lithium/boron project, in Nevada, using conventional commercial processes. The company said that the successful production of boric acid, which was... 

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