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Star Diamond’s Saskatchewan projects shine with C$2bn after-tax NPV

By: Henry Lazenby     17th April 2018 The TSX-quoted equity of project developer Star Diamond (formerly Shore Gold) closed in the black on Monday after a preliminary economic assessment (PEA) on its fully-owned Star-Orion South kimberlite projects reported strong metrics. The PEA reported an after-tax net present value on a... 

Aluminium set for best week in three decades as supply woes mount

By: Bloomberg     13th April 2018 Aluminium prices are heading for the best week in at least three decades as US sanctions on Russian producer United Co. Rusal send buyers scrambling to find supplies. Prices of the metal climbed to the highest since 2012 Thursday, helping push this week’s gain to almost 14%, the most in... 

Barrick warns lower Q1 copper price to impact earnings

By: Henry Lazenby     11th April 2018 The world’s largest gold bullion producer Barrick Gold has reported a 19% drop in first-quarter gold output that totalled 1.05-million ounces for the period ended March 31. Copper output fell 10.5% year-on-year to 85-million, reflecting the company’s strategic divestment of noncore assets as it... 

Canada's Saskatchewan sees smaller fiscal deficit as spending kept tight

By: Reuters     11th April 2018 The Canadian province of Saskatchewan, home to major potash and uranium reserves, said on Tuesday it would run a smaller deficit in the current fiscal year and balance its books in 2019/20 as it keeps a tight lid on spending despite projected higher commodity prices. Saskatchewan, which has... 

Canadian miners report strong Q1 production

By: Henry Lazenby     11th April 2018 Several Canadian miners have started publishing their production results for the three months ended March 31, reporting a strong start to the calendar year. Toronto-based Kirkland Lake Gold has reported strong first-quarter results, with output growing 13% year-on-year to 147 644 oz of gold. 

Lydian nixes Newmont’s Amulsar royalty for fixed payments

By: Henry Lazenby     10th April 2018 The TSX-quoted stock of Armenia-focused project developer Lydian International jumped 9.52% on Monday following the company's announcement that it has terminated a royalty agreement with former joint venture partner Newmont Mining, replacing it with a fixed payment option. Toronto-based Lydian... 

Still no word from Mantashe on vital exploration promotion

By: Martin Creamer     6th April 2018 There is still no word from new Mineral Resources Minister Gwede Mantashe on the promotion of a vital, but still a totally missing element of South Africa’s mining future – exploration. The minerals sector can be restructured but only sustainably if exploration is included, a point which has been... 

Gold price seen 'moving north' as world fails to replace output

By: Bloomberg     5th April 2018 Bullion prices are set to rise because there’s been a lack of exploration and the global industry isn’t replacing the reserves it’s been mining, according to Stephen Letwin, CEO at Iamgold. “Gold has a much higher probability of moving north as opposed to south,” Letwin said in an interview at... 

Eldorado rises as Greek arbitration panel rejects State's claims

By: Henry Lazenby     4th April 2018 The TSX-listed equity of Canadian gold and base metals producer Eldorado Gold lifted off recent 52-week lows on Wednesday, after the company announced a favourable ruling by an arbitration panel in its dispute with the Greek government over its Madem Lakkos metallurgical plant. Vancouver-based... 

BlackRock's $1.3bn gold fund feels pain of bullion miners

By: Bloomberg     4th April 2018 This year has not been kind to precious-metal stock pickers at the world’s biggest asset manager, but their luck may be about to turn. The $1.3-billion BlackRock Gold and General Fund lost 15% last quarter, its worst performance since the third quarter of 2015. Among large materials-focused... 

Gold heading to $1 400/oz as Sprott sees 'winnerless' trade war

By: Bloomberg     3rd April 2018 Gold will surge to the highest level in five years if a global trade war breaks out, according to Rick Rule, CEO of Sprott US Holdings, who’s been involved in the market for four decades. Bullion could top $1 400/oz in 2018 as escalating trade tensions drive investors to havens and the... 

Nevsun's Timok UZ PFS elevates deposit among best anywhere

By: Henry Lazenby     3rd April 2018 A new prefeasibility study (PFS) on Canadian base metals producer Nevsun Resources’ Timok Upper Zone (UZ) copper/gold project, in Serbia, has confirmed the project as one of the best development-stage copper assets in the world, the company reports. Vancouver-headquartered Nevsun reported last... 

Hudbay outlines new mine plan for Constancia; global resources dip on depletion

By: Henry Lazenby     3rd April 2018 Canadian base metals producer Hudbay Minerals has released a new technical report on its flagship Constancia mine, in Peru, which lifted the operation’s value, while also extending the mine life. Toronto-headquartered Hudbay said a twin-hole drill programme during the fourth quarter of 2017 had... 

Port, railway workers reject Canada miner IOC's latest offer

By: Reuters     30th March 2018 A majority of 98% of workers at the Iron Ore Company of Canada's railway and port operations in Sept Iles, Quebec have rejected the miner's latest contract offer, the United Steelworkers said on Thursday, after negotiations stumbled on monetary issues. The 305 unionised employees are unhappy... 

Eldorado Gold updated Greek mine plan reduces 'footprint'

By: Reuters     30th March 2018 Canada's Eldorado Gold filed a new technical report for its contentious Skouries gold mine project, in Greece, on Thursday, which said it "significantly" reduces the development's environmental footprint. The miner, which also filed updated reports for projects in Turkey and Canada, took a tough... 

Private capital carves out mining niche with specialist focus

By: Henry Lazenby     28th March 2018 Generalist investment funds are having a hard time keeping up with the success private capital lenders have enjoyed in the mining space in recent quarters, with private equity firms carving out their niche by being specialists at their game. The generalist funds are underwriting real estate and... 

Barrick founder Peter Munk passes at 90

By: Henry Lazenby     28th March 2018 Canadian entrepreneur and philanthropist Peter Munk passed away peacefully in Toronto on Wednesday, miner Barrick Gold said in an announcement. Munk will best be remembered in mining circles for founding Barrick as a single-asset company in 1983 and building it into the world’s largest bullion... 

North American Palladium makes PGM discovery at Sunday Lake

By: Henry Lazenby     27th March 2018 Winter exploration results from the Sunday Lake platinum-group metals (PGM) deposit, 25 km northeast of Thunder Bay, Ontario, has led to the discovery of new PGM mineralisation in the central part of the property, with extensions to the east, that open up a much larger area for exploration, North... 

Cobalt upstarts add capacity in Congo as prices triple

By: Bloomberg     27th March 2018 A little-known cobalt miner in the Democratic Republic of Congo plans to ramp up output so fast it will soon be out-produced only by industry leader Glencore. Chemaf, a closely held Lubumbashi-based company, and several other firms are capitalizing on a boom in demand that’s transforming small... 

Gahcho Kué flexes cash flow muscle

By: Henry Lazenby     27th March 2018 The Gahcho Kué diamond mine, in Canada’s Northwest Territories, has demonstrated strong cash flow generating capabilities over the operation’s first two commercially active financial quarters. Toronto-based miner Mountain Province Diamonds on Monday stressed that 2017 was a milestone year for the... 

Sprott-backed blockchain platform to give gold digital edge  

By: Bloomberg     26th March 2018 Cryptocurrencies and the blockchain were thought by some to replace gold as the ultimate haven against financial calamity. Now the gold market is using blockchain to kick back at crypto and bring precious metals into the digital age. TradeWind Markets, a technology provider backed by Sprott,... 

Barrick Gold cuts 2017 compensation for top two executives

By: Reuters     24th March 2018 Barrick Gold, the world's largest producer of bullion, cut the 2017 compensation for its top two executives to reflect a challenging "shareholder experience" and operations at some mines. Shares in the Canadian miner declined 15% last year, even as the price of gold gained 11%. In 2017 Barrick... 

Largo narrows FY17 loss as record Q4 output, rising metal prices boost bottom line

By: Henry Lazenby     24th March 2018 Canadian vanadium producer Largo Resources has narrowed its net loss for 2017 to C$10.4-million, or C$0.02 a share, as record fourth-quarter production dovetailed into higher realised prices for its vanadium pentoxide (V2O5) product. Largo set a new monthly production record in December at its... 

Barrick bags another confidence boost as S&P upgrades rating to ‘BBB’, stable

By: Henry Lazenby     23rd March 2018 The world’s largest gold producer Barrick Gold’s intensive corporate strategy to reduce debt and company-wide costs over the last several quarters has been paying off, with a second major credit ratings agency upgrading the miner's long-term corporate credit rating this month. S&P Global Ratings... 

RNC seeks alternatives for Beta Hunt as it prioritises Dumont development

By: Henry Lazenby     23rd March 2018 The TSX-quoted equity of diversified miner RNC Minerals jumped 11.5% on Thursday following the company announcing that it will prioritise development of the Dumont nickel/cobalt project, in the Abitibi region of Quebec, and seek alternatives for its Beta Hunt gold and nickel mine, in Western... 

SA Hippo to be exhibited at the CIM 2018 in Vancouver

By: Creamer Media Reporter      22nd March 2018 HAZLETON PUMPS® will be exhibiting the patented HIPPO Solid Separation System® again at the CIM 2018 in Vancouver from 5 to 8 May 2018 and it will be the fifth CIM exhibition that HAZLETON PUMPS® will be participating in, using the opportunity to showcase the South African manufactured HIPPO... 

First Cobalt undertakes study to assess mine waste rock; success could impact overall strategy

By: Henry Lazenby     21st March 2018 ASX- and TSX-V-listed First Cobalt has launched a metallurgical study on the high-grade inventory of refinery residue and crushed waste rock material located near the company’s mill facility, located in the Canadian Cobalt Camp, in Ontario. First Cobalt has partnered with Dundee Sustainable... 

Canada's PM optimistic on NAFTA as deal on autos appears closer

By: Reuters     21st March 2018 Prime Minister Justin Trudeau said on Wednesday he remained optimistic Canada would get a good deal at the NAFTA modernisation talks amid signs negotiators could be closer to settling one of the trade pact's most contentious issues. Officials are due to meet next month for the eighth round of... 

First Quantum steadies as CEO hopeful of escaping giant tax bill 

By: Bloomberg     21st March 2018 First Quantum Minerals recovered from what was shaping up to be its worst two-day drop in two years as its chief executive officer said he’s hoping to talk his way out of a $7.9-billion tax bill in Zambia - which includes $5.7-billion in interest. First Quantum received a letter from the Zambia... 

Marijuana is the new gold as former Canada miners go to pot

By: Bloomberg     19th March 2018 Turns out, it may be easier to strike gold by growing green. Just ask Jay Wilgar, a former wind power developer who started a medical marijuana company with friend Travis Kanellos after hatching the idea while lifting weights at a gym. When they began looking at ways to take their startup... 

Mine accident shows a potash market nervous about outages

By: Bloomberg     16th March 2018 The news, when it came late Friday night from a government ministry in Minsk, was grim: the ceiling of a potash mine in Belarus had collapsed more than half a kilometre underground, trapping two workers. Halfway around the world, the reaction to the headlines was swift and dramatic. Shares of... 

Kinross adopts new 'poison pill'

By: Henry Lazenby     16th March 2018 Dual-listed miner Kinross Gold has adopted a new shareholder rights plan to replace the expiring existing document from March 29, the company announced on Thursday. The new plan will ensure that Kinross and its shareholders continue to receive the benefits associated with the current shareholder... 

First Cobalt buys Idaho explorer in race to tap battery boom

By: Bloomberg     15th March 2018 First Cobalt is seeking to speed up its timetable to begin producing cobalt, riding the wave of interest in the metal used in electric-vehicle batteries and smartphones. The Vancouver-based exploration company agreed to buy explorer US Cobalt, which has properties in Idaho, in an all-stock deal... 

Oliphant talks up Mantashe's mining pedigree in Toronto

By: Henry Lazenby     15th March 2018 South Africa's Deputy Mineral Resources Minister Godfrey Oliphant talked up the mining pedigree of newly installed Minister Gwede Mantashe during the recent Prospectors and Developers Association of Canada's annual convention, held in Toronto. "His previous mining experience is an advantage for... 

Paradigm shift required to position mining industry for long-term success

By: Henry Lazenby     15th March 2018 The long-term mindset of the mining industry will have to change to position itself for long-term success, set against an ever-changing landscape, says BHP Billiton's head for Minerals America, Daniel Malchuck. He told an audience during the keynote session of the recent Prospectors and... 

Fission's latest drill results mark steady high-grade march westward as PLS expands

By: Henry Lazenby     14th March 2018 The final four drill holes of Fission Uranium's winter exploration campaign on the R1515W zone, at its Patterson Lake South (PLS) property, in Canada's Athabasca Basin region, have all returned mineralised intercepts, with three holes encountering high-grade radioactivity. At shallow depth,... 

RNC's Mark Selby dispels myths regarding nickel demand as new EV markets beckon

By: Henry Lazenby     14th March 2018 Tightening long-term fundamentals for nickel are sketching a rosy picture for the stainless steel-making ingredient, as increased dependence from the burgeoning electric vehicle (EV) market adds a growing new demand stream in an already constrained supply scenario. RNC Minerals president and CEO... 

A year of two truths for zinc as new supply responds to tight market

By: Henry Lazenby     14th March 2018 This calendar year is expected to tell a tale of two outcomes for zinc as tight first-half concentrates and declining metal stocks contrast against new supply coming on stream and building concentrate levels. CRU Group analyst Ryan Cochrane foresees the real cash price of zinc building towards a... 

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