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Mountain Province says recent diamond sale netted $24.2m

By: Creamer Media Reporter      19th October 2018 Toronto-based miner Mountain Province has netted $24.2-million from the sale of 366 505 ct in its most recent diamond sale, which the company says is in line with its expectations. The sale, held on October 5, realised an average value of $66/ct. 

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,... 

De Beers eyes tech markets for synthetic diamonds future 

By: Reuters     19th October 2018 Anglo American unit De Beers is going after lucrative, but elusive high-tech markets in quantum computing, as it aims to expand its lab-grown diamond business beyond drilling and cutting. Element Six, De Beers' synthetic diamond arm, is building a $94-million factory in Portland, Oregon, an... 

Hudbay investor is said to seek changes to miner's board

By: Bloomberg     17th October 2018 An investor in Hudbay Minerals wants to meet with the Toronto miner to discuss replacing members of its board, as well as to seek assurances it won’t pursue acquisitions or joint venture without consulting shareholders, according to a person familiar with the matter. Waterton Global Resource... 

Freeport CEO may be ready to sell, but does anyone want to buy?

By: Bloomberg     17th October 2018 Freeport-McMoRan’s annual LME Week party is usually an opportunity for CEO Richard Adkerson to hobnob with the traders and consumers who buy copper from his mining company. At this year’s event, he was surrounded by investment bankers. With its biggest stock overhang – a deal around its... 

Second activist targets Canadian miner Detour; seeks board changes

By: Reuters     16th October 2018 US hedge fund Livermore Partners is calling for an overhaul of the board at Detour Gold Corp and a strategic review, becoming the second activist to target the Canadian mining company. Livermore, which has engaged in other activist campaigns including at Canadian and UK media firm Entertainment... 

Bunker Hill lease terminated

By: Creamer Media Reporter      15th October 2018 Toronto-headquartered Bunker Hill Mining on Monday confirmed that the lease with option to purchase agreement for the Bunker Hill mine had been terminated, owing to a missed property payment. The CSE-listed company warned earlier this month that it was in default of its lease agreement with... 

Detour offers Paulson seat on board, 'disagreed' on sale

By: Bloomberg     15th October 2018 In an effort to ease an increasingly acrimonious standoff with one of its investors, Detour Gold says it’s offering Paulson & Co. a list of concessions, including a spot on the board and a pledge to consider any “new” ideas the hedge fund brings forward. “We know the heavy expense and... 

Chile's Supreme Court signals death knell for Kinross gold mine

By: Reuters     11th October 2018 Chile's Supreme Court upheld an environmental order for a gold mine owned by Canada's Kinross Gold Corp to close its water pumping wells, the environmental regulator said on Wednesday, bringing the curtain down on a long-running dispute that sparked the Toronto-based miner's retreat from Chile.... 

Hudbay Minerals responds to rumours of Chile deal

By: Mariaan Webb     5th October 2018 Canadian miner Hudbay Minerals has responded to speculation about the potential acquisition of Chilean miner Mantos Copper, stating that although it usually avoids comment on market rumours, the company’s strategy does include potential growth opportunities, such as acquisitions. Hudbay, which... 

Randgold's hook-up with Barrick to leave large void in London market

By: Reuters     2nd October 2018 A tie-up between Randgold Resources and Barrick Gold will leave a void in the London market for investors seeking exposure to gold via companies that produce the precious metal. Canada's Barrick Gold has agreed to buy Africa-focused Randgold for $6.5-billion to create the world's largest gold... 

Botswana manganese estimate fires up aspirant battery supplier

By: Martin Creamer     1st October 2018 A maiden mineral resource at the Kgwakgwe Hill manganese field in Botswana has given a Toronto venture exchange junior exploration company sufficient confidence to proceed immediately with a preliminary economic assessment, Mining Weekly Online can today report. The mineral resource estimate,... 

SolGold CEO: High grades deliver independence

By: Mariaan Webb     28th September 2018 High copper and gold grades of the Alpala deposit are providing dual-listed SolGold with a level of independence in the development of the larger Cascabel project, in Ecuador, CEO Nicholas Mather said on Friday. Responding to critics saying that Brisbane-based SolGold is too small to fund a... 

First Quantum falls as Panama court casts uncertainty on project

By: Bloomberg     26th September 2018 Canadian miner First Quantum Minerals headed for a one-week low after a ruling by Panama’s Supreme Court cast uncertainty over a major copper mine it’s developing in the central American country. Local media in Panama reported that the court ruled on Monday that Law 9 – used to approve a mining... 

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... 

Why Are More Mines Integrating Renewables?

25th September 2018 By Melodie Michel, Energy and Mines Rob Schueffner, Hybrid Energy Solutions Manager for Caterpillar Electric Power, explains how the financial benefits and reliability of renewable energy solutions available for mines today are quickly matching the environmental benefits. 

Great Panther adds Brazil mine to portfolio with $105m Beadell buy

By: Mariaan Webb     25th September 2018 TSX-listed Great Panther Silver has announced that it will acquire ASX-listed Beadell Resources, which owns the Tucano gold mine in Brazil, in an all-scrip deal. The transaction will create a new “growth-oriented precious metals producer” focused on the Americas, with a portfolio of three... 

Barrick Gold, Randgold said to be in advanced merger talks

By: Bloomberg     24th September 2018 Barrick Gold is said to be in advanced negotiations to merge its operations with Africa-focused rival Randgold Resources, protecting the Toronto-based miner’s crown as the world’s largest producer of the metal. A deal is imminent, according to one of the three people familiar with the... 

Paulson launches alliance to seek better returns in gold sector

By: Reuters     21st September 2018 Long-time gold bull John Paulson followed through on Friday on a pledge made last year to team up with other gold investors in an effort to work with management of companies in the gold sector to improve returns, according to the group, called the Shareholders Gold Council. The coalition,... 

Father’s Day yields gold worth $38m

By: Mariaan Webb     20th September 2018 The recently discovered Father’s Day vein at RNC Minerals’ Beta Hunt mine, in Australia, has more high-grade gold than previously thought, with estimates now put at 24 000 oz, worth $38-million. The new estimate is more than double the initial estimate of 9 250 oz. 

Wallbridge up on high-grade drilling results

By: Creamer Media Reporter      20th September 2018 Shares in Toronto-listed Wallbridge Mining soared 21% on Wednesday as the company announced positive results from its underground drilling programme and an update on the ongoing development of the 35 000-t bulk sample at the Fenelon gold property, in Quebec. Wallbridge said that, in the newly... 

RNC says Fathers Day vein delivers more high-grade gold

By: Mariaan Webb     17th September 2018 TSX-listed RNC Minerals on Monday announced that it had doubled the strike length of the high-grade coarse gold structure of the Fathers Day vein, in the Beta Hunt mine, to about 10 m and added that it would provide an update on the estimated ounces from this new Australian gold discovery later... 

Barrick seeks Chinese partners for Tanzania mines – Globe

By: Bloomberg     17th September 2018 Barrick Gold may slash 400 jobs and involve Chinese partners in its troubled Tanzania operations, executive chairperson John Thornton told the Globe and Mail newspaper. The Toronto-based company has slashed middle management by half to about 700 and “we want to get it down to 300", Thornton,... 

Lundin Mining has hefty M&A appetite for copper, says incoming CEO

By: Reuters     14th September 2018 Canada's Lundin Mining is on the hunt for copper mines and projects and willing to spend up to $3-billion on mergers and acquisitions, its incoming CEO said in an interview on Thursday. But Lundin will stick with its strategy of disciplined bids and a focus on low-risk jurisdictions, Marie... 

Teck's copper project attracts interest before end-Sept deadline - sources

By: Reuters     13th September 2018 Mining companies and commodities trading houses are expected to table first-round offers by a September 28 deadline for a stake in Teck Resources' Quebrada Blanca copper mine expansion in northern Chile, two sources with knowledge of the matter said. Canada's Teck has said a development partner... 

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... 

Brazil federal authorities should take up Belo Sun mine case, court rules

By: Reuters     12th September 2018 A Brazilian court ruled that a mine planned by Toronto-based Belo Sun Mining in the Amazonian state of Para should be examined by federal authorities and its licences reviewed, prosecutors said on Tuesday. The decision could further lengthen the approval process for the company, which has been... 

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... 

BHP buys into Ecuador copper project with SolGold stake

By: Esmarie Iannucci     5th September 2018 Diversified miner BHP has struck a deal with TSX-listed Guyana Goldfields (GGI) to acquire its 6.1% interest in SolGold, which is the majority owner and operator of the Cascabel porphyry copper/gold project, in Ecuador. Under the terms of the agreement, BHP will acquire GGI's entire stake of... 

Neo Lithium in talks for $490m Argentine mine venture

By: Bloomberg     5th September 2018 Neo Lithium is negotiating a $490-million deal to finance development of a mine in Argentina as the Toronto-based penny stock looks to tap a nascent lithium boom in the South American country. Shares rose. The company is in talks with would-be US, European and Asian joint-venture partners for... 

Trafo Power Solutions

30th August 2018 Trafo Power Solutions was established to cater for the growing appetite and scope for the application of dry-type transformers on the African continent. These power solutions are suitable across a wide range of industry sectors including mining. The company offers a range of dry-type, or... 

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... 

South Africa should set out with iron will to achieve benchmarks of world’s top mining jurisdiction

By: Martin Creamer     24th August 2018 Way before the new millennium, leading South African gold mining companies organising secondary listings on global stock exchanges would say how determined they were to meet the so-called Ontario benchmark, a safety level attained by Canadian mining companies that became the Holy Grail for... 

On-The-Air (17/08/2018) 

By: Martin Creamer     17th August 2018 Yet another huge mine is in serious financial trouble, which is throwing up the dread of more mass retrenchment. South Africa should adopt the growth model that has proved so resoundingly successful for the economy of Canada. The Constitutional Court should be called upon to lift the veil of... 

Gold seen fighting back in battle with dollar for haven role

By: Bloomberg     17th August 2018 Don’t write off gold in the battle of the havens. Bullion has lost out in a paradigm shift where the metal’s no longer viewed as the traditional refuge when investors are in a risk-off mood, but that won’t last, according to Rick Rule, CEO of Sprott US Holdings. 

Jaguar Mining lowers guidance, CEO resigns

By: Mariaan Webb     15th August 2018 The TSX-listed stock of Jaguar Mining on Wednesday fell by 25% after the Brazil-focused company released its second quarter results announcement, which contained a revised production guidance and news that Rodney Lamond is leaving his position as CEO and director. Jaguar lowered its production... 

Mozambique's ruby mining goes from ‘wild west’ to big business

By: Bloomberg     13th August 2018 Sebastiao Pedro struck it lucky in 2014 when, as a 21-year-old small-scale miner, he found a large red ruby in northern Mozambique. He sold it to a buyer from Vietnam for $43 000, returned to his family 900 miles away and built a house with the proceeds. Then the money ran out. 

Caledonia achieves marginal increase in Q2 output

By: Anine Kilian     10th August 2018 Caledonia Mining’s 49%-owned Blanket mine, in Zimbabwe, produced 12 657 oz of gold in the second quarter ended June 30, marginally higher than that produced in the second quarter of 2017 and in line with expectations.  “The second quarter was a difficult quarter for the business as production was... 

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