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Sampling confirms lithium in Namibia – Montero

By: Martin Creamer     17th November 2017 Exploration and development company Montero, which is putting mineralisation to the test in Namibia in search of a lithium resource, on Friday confirmed the presence of the soft silver-white metal in central Namibia. “Montero’s first channel sampling programme has confirmed lithium,” Montero CEO... 

Atlatsa incurs $292m loss

By: Martin Creamer     14th November 2017 Toronto- and Johannesburg-listed platinum-mining company Atlatsa, which has platinum assets on the northern and eastern limbs of the Bushveld Complex, incurred a net loss of $292.6-million in the nine months to September 30, when its liabilities exceeded its assets by $142.5-million. The main... 

Announcing noteworthy diamond finds keeps market interest high – Paragon International

By: Henry Lazenby     10th November 2017 A review of 61 diamond finds over the past five years, which were significant enough to warrant press releases by the companies that mined them, shows that announcing the diamond finds publicly keeps market interest high, said diamond investment specialist Paragon International Wealth Management... 

Sherritt formalises restructuring of Ambatovy JV

By: Henry Lazenby     10th November 2017 Canadian diversified miner Sherritt International has signed a definitive agreement to restructure the Ambatovy Joint Venture (JV), which will see Sherritt transfer its 28% stake in return to eliminate debt from its balance sheet. Under the terms of the JV restructuring, which was first revealed... 

On-The-Air (10/11/2017) 

By: Martin Creamer     10th November 2017 South Africa’s loss of the top global ferrochrome spot to China has been self-inflicted; New funding for the Wits Mining Institute is giving mining a big Fourth Industrial Revolution boost; and Pounding the streets of Perth, Toronto and London is paying off for South Africans in desperate need of... 

Dalradian readies for Curraghinalt permitting phase

By: Mariaan Webb     10th November 2017 Canadian explorer and developer Dalradian Resources will start the permitting process for project in Northern Ireland by the end of this year, when it submits its planning application for building a gold mine at the Curraghinalt deposit. The planning application will be followed by two key... 

Uranium miner Cameco not planning more output cuts 'right now' – CEO

By: Reuters     10th November 2017 Canada's Cameco is not planning further cuts to uranium output "right now," but has the option of lowering production again without jeopardizing supply contracts, its chief executive said on Thursday. Cameco will suspend production for ten months at McArthur River, Saskatchewan - the world's... 

Kinross reports 35% dip in Q3 earnings on lower sales

By: Henry Lazenby     9th November 2017 Canadian major Kinross Gold has reported a 35% dip in third-quarter profit as metal sales fell, the company advised on Wednesday. The Toronto company reported adjusted net earnings attributable to common shareholders for the three months ended September of $84.1-million, or $0.07 a share,... 

Argonaut submits scalable, lower-cost Magino feasibility study

By: Henry Lazenby     9th November 2017 TSX-listed Argonaut Gold has revealed details of a cheaper, more scalable approach to developing its 100%-owned Magino gold project, near Wawa, in Ontario. Opting to start out with a 10 000 t/d mill, instead of the 30 000 t/d mill envisioned in its January 2016 prefeasibility study, the project... 

McEwen Mining targeting acquisition spree to get S&P listing

By: Reuters     8th November 2017 McEwen Mining is on a buying spree as the Canadian gold company aims to grow its market capitalisation by more than five times to achieve its ambition of a listing on the S&P 500, chief owner Rob McEwen said on Tuesday. The Toronto company is seeking to buy several assets, ideally distressed... 

Bristow, Friedland may go head-to-head in on-stage copper-gold debate

By: Martin Creamer     7th November 2017 Dr Mark Bristow of Randgold Resources and Robert Friedland of Ivanhoe Mines may go head-to-head in a live on-stage gold-versus-copper debate at the Investing in African Mining Indaba event at the Cape Town International Convention Centre from February 5 to 8, Mining Indaba MD Alex Grose disclosed... 

Franco-Nevada rises on earnings beat

By: Henry Lazenby     7th November 2017 Investors have rewarded precious metals royalty and streaming firm Franco-Nevada by pushing its NYSE-listed equity up 6.5% on Monday, following the company reporting a stronger-than-expected third-quarter profit. Headquartered in Toronto, Franco-Nevada reported adjusted net income of... 

Denison extends high-grade Gryphon mineralisation at Wheeler River

By: Henry Lazenby     4th November 2017 Uranium explorer and development company Denison Mines has extended the new high grade unconformity-hosted mineralisation up-dip and about 250 m along strike to the northeast of the Gryphon deposit, which is part of the 60%-owned Wheeler River uranium project, in the Athabasca basin of Northern... 

China sets tone for future vanadium-flow battery development

By: Henry Lazenby     4th November 2017 The Chinese government has awarded a major contract to privately held clean technology innovator Pu Neng Energy for the construction of a 12 MWh vanadium-flow battery, as Phase 1 of a larger 40 MWh energy storage project, in Hubei province. This first phase will be installed in Zaoyang, Hubei, to... 

Hudbay net earnings rise 22% as output rises in Manitoba, Peru

By: Henry Lazenby     2nd November 2017 Canadian base metals miner Hudbay Minerals has posted a 22% improvement in third-quarter profit as the company's Manitoba and Peru operations produced more metals at lower costs. The Toronto-headquartered company reported a net profit of $40.9-million, or $0.17 a share, for the three months ended... 

Americas Silver drives up output as costs fall

By: Henry Lazenby     2nd November 2017 Canadian miner Americas Silver has reported strong production results for the three months ended September, as it ramps up production at the San Rafael deposit, in Mexico, for processing through the El Cajón mill. The Toronto-based company reported on Tuesday that consolidated silver output for... 

Ghost town of Cobalt gets first jolt from Tesla’s electric cars

By: Bloomberg     1st November 2017 Ironically, Cobalt, Ontario – population 1,100 – was built on silver. Remnants of a boom that transformed the town more than a century ago are everywhere. A mine headframe still protrudes from the roof of the bookstore, which was previously a grocery. The butcher used to toss unwanted bones down... 

Energy shares boost TSX to record peak despite weak earnings

By: Reuters     28th October 2017 Canada's benchmark stock index closed at a record high on Friday as energy shares surged alongside oil prices and as investors bet the central bank will be less aggressive in raising interest rates than previously anticipated. The Toronto stock market, which also set an intraday record high, has... 

Brazil's Nexa Resources prices IPO at $16 a share

By: Reuters     27th October 2017 Brazilian mining company Nexa Resources, formerly Votorantim Metais Holding, has priced its initial public offering at $16 per share, the company said on Thursday. Nexa is offering 31-million shares and now expects to raise about $496-million, the company said in a statement. 

Sherritt narrows Q3 loss as higher commodity prices, lower costs boost the bottom line

By: Henry Lazenby     26th October 2017 Canadian diversified miner Sherritt International has reported improved headline earnings for the three months ended September, as higher realised prices for nickel, cobalt and oil and lower unit operating costs, mainly for nickel and electricity boosted earnings. Excluding special items, the net... 

Technical report spells ‘bright future’ for Largo’s Maracás Menchen mine

By: Henry Lazenby     26th October 2017 Canadian vanadium producer Largo Resources has released the results of a National Instrument 43-101-compliant technical report for its flagship Maracás Menchen mine, in Bahia, Brazil, outlining increased value of the mine and a significantly longer mine life, based on the development of several... 

Trek, NewCastle, Anfield formalise three-way tie-up

By: Henry Lazenby     26th October 2017 Three mining juniors have signed a definitive agreement to combine their businesses into a new entity to be named Equinox Gold, and operate under the leadership of mining veteran and chairperson Ross Beaty, the companies said in a joint statement late on Wednesday. Assisted by CEO Christian Milau... 

Despite regulatory creep, Mali remains ‘model’ mining country – Randgold

By: Henry Lazenby     26th October 2017 Africa-focused miner Randgold Resources said on Thursday that Mali was in many ways a model of its kind for Africa’s other mining countries, despite “some concern” that continued “upward revisions” to its mining code was diminishing its ability, relative to its peers, to attract investment.... 

Small mining companies shun London market after IPO flops

By: Reuters     26th October 2017 Lacklustre performances by small mining companies on the London Stock Exchange are driving rivals in need of cash to find alternative ways to raise capital, either by merging or turning to other markets such as Toronto. Six small miners have listed in London this year, up from two last year, but... 

Freeport trades lower on earnings miss as production falls

By: Henry Lazenby     25th October 2017 The NYSE-listed equity of the world’s second-largest publicly traded copper miner by market capitalisation traded as much as 3.87% lower on Wednesday, despite confidently beating earnings forecasts as lower-than-expected output weighed on investor sentiment. For the three months ended September... 

Bullish Caterpillar rebounds, beats Q3 profit, revenue forecasts

By: Henry Lazenby     24th October 2017 US industrial equipment manufacturer Caterpillar has surprised investors with a significantly higher profit for the three months ended September, as higher sales volume and its focus on cost discipline resulted in improved profit margins across the three main business segments. The Deerfield,... 

Sierra shuffles Mexican team in bid to improve ops performance

By: Henry Lazenby     24th October 2017 Growth-focused precious metals producer Sierra Metals has revealed a significant shakeup of its corporate team in Mexico, with a view to improve operations at the Bolivar copper and Cusi silver mines, following disappointing third-quarter production results as a result of lower recoveries. The... 

Nicaragua-focused Condor gains TSX listing

By: Henry Lazenby     24th October 2017 London, UK-based explorer Condor Gold has been given conditional approval to list its equities on the TSX main board, in Toronto. Focused on its flagship La India project, in Nicaragua, the company advised that it will maintain its LSE Aim stock listing. 

Argonaut declares commercial production at San Agustin

By: Henry Lazenby     24th October 2017 Canadian miner Argonaut Gold has declared commercial production at its $42.6-million San Agustin project, in Mexico, effective from October 1, the company announced on Tuesday. The Toronto-headquartered company reported that it has reached the milestone two weeks after pouring first gold. 

Consol’s coal spin-out launches $350m debt offering

By: Henry Lazenby     23rd October 2017 Consol Energy’s new subsidiary Consol Mining, which will hold the parent’s coal assets following the spin-out of the coal business into a new separate entity, plans to raise $350-million in debt. The Delaware-incorporated entity said that, subject to market and other conditions, it intends to... 

Cleveland-Cliffs lifts Q3 earnings as US ops shine, Asian segment struggles

By: Henry Lazenby     23rd October 2017 US iron-ore producer Cleveland-Cliffs has reported strong third-quarter results for the three months ended September 30, beating analyst forecasts for earnings per share. The Cleveland, Ohio-based company reported adjusted net earnings, which typically excludes special items, of $0.36 a share,... 

Arconic sinks on earnings miss; appoints former GE boss as CEO

By: Henry Lazenby     23rd October 2017 The New York-listed equity of alloy metals specialist Arconic dipped on Monday after the company reported disappointing third-quarter results. The New York-headquartered company revealed a headline profit of $132-million, or $0.25 a share, compared with $137-million in the comparable quarter of... 

Chinese clamp down expected to support alumina, aluminium price strength

By: Henry Lazenby     23rd October 2017 The successful government-led rebalancing of several Chinese industries has supported alumina and aluminium prices globally. However, smelter restarts might undermine prices in 2018, according to a new report by Bank of America Merrill Lynch (BofAML) Global Research. The banking group pointed out... 

Eldorado once more pares Kisladag guidance as recoveries lag

By: Henry Lazenby     23rd October 2017 Canadian miner Eldorado Gold has once more reduced the production guidance at its low-grade, Turkey-based Kisladag mine, as recoveries continue to lag behind plan. Vancouver-based Eldorado, which also maintains equity listings on the TSX and NYSE, advised on Monday that monthly composite samples... 

Acacia-Tanzania proposed settlement on track – Barrick

By: Reuters     23rd October 2017 Barrick Gold said on Friday a proposed mining settlement it negotiated with Tanzania for its Acacia Mining unit was not under threat, even though Acacia said it could not immediately make a $300-million payment included in the deal. Barrick, which owns 63.9% of Acacia, announced on Thursday the... 

B2Gold beats Q3 production forecast

By: Henry Lazenby     13th October 2017 The TSX-listed stock of gold producer B2Gold rallied more than 3% on Friday morning following the company reporting better-than-expected gold output for the three months ended September 30. The Toronto-headquartered company reported consolidated gold output of 135 628 oz, including 6 340 oz of... 

Dalradian gets another $20m cash injection on warrant exercises

By: Henry Lazenby     13th October 2017 Canadian gold explorer Dalradian Resources reported a C$19.96-million cash injection after holders of common share purchase warrants originally issued on October 7, 2015, were exercised. The Toronto-headquartered company, with equity listings on both the TSX and Aim, said about 50.18-million of... 

Barrick’s Q3 output shrinks 10%

By: Henry Lazenby     13th October 2017 The world’s largest gold producer by output Barrick Gold has reported 10% fewer ounces produced at all its major mines for the three months ended September 30, according to the company’s third-quarter production results, published on Thursday. The Toronto-headquartered company produced... 

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