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Mining equipment supplier Weir buys US market leader Esco in $1.3bn tie-up

By: Henry Lazenby     19th April 2018 UK-based mining equipment dealer Weir has signed a binding $1.29-billion accord to buy Portland, Oregon-based Esco – a local market leader in the mining, construction and industrial markets. "We are acquiring a high-quality business at the right time, with the market in the early stages of its... 

Denison outlines more high-grade mineralisation at Gryphon

By: Henry Lazenby     19th April 2018 Uranium explorer and development company Denison Mines has discovered more high-grade uranium ore 600 m and 1 km to the northeast of the Gryphon uranium deposit, on the company’s 63.3%-owned Wheeler River project, in northern Saskatchewan, the company reported on Wednesday. With the 21 153 m... 

Phoenix Global PEA lifts Idaho-based Empire mine output 16%

By: Henry Lazenby     19th April 2018 A preliminary economic assessment (PE) of LSE-quoted project developer Phoenix Global Mining’s historic Empire mine, in Idaho, has outlined a 16% improved production scenario over previous estimates, taking only the openpit copper oxide resource into consideration. The PEA shows an average copper... 

Semafo’s Boungou mine 91% complete

By: Henry Lazenby     19th April 2018 Montreal-based miner Semafo reported on Thursday that construction of the Burkina Faso-based Boungou mine, in Burkina Faso, is 91% complete, and 10% of the equipment has already been commissioned. Commissioning exercises started in February, focusing first on the crushing circuit equipment and... 

B2Gold’s Fekola update continues to demonstrate potential for larger openpit

By: Henry Lazenby     19th April 2018 Gold producer B2Gold has extended mineralisation at its Fekola mine 1 km to the north, with the positive drill results continuing to indicate potential for a larger openpit operation, that could justify a relatively low capital cost plant expansion from 5.5-million tonnes a year to about... 

Kinder Morgan pipeline expansion investment untenable – CEO

By: Henry Lazenby     19th April 2018 The CEO of Kinder Morgan Steven Kean has conceded that the C$7.4-billion twinning of the existing Kinder Morgan crude oil pipeline between Alberta and British Columbia “may be untenable for a private party to undertake”. He made the comments during the company’s first-quarter conference call on... 

Hochschild shares rise on higher Q1 output

By: Henry Lazenby     18th April 2018 LSE-listed Hochschild Mining has reported higher-than-expected first-quarter production, as record output at the Inmaculada mine, as well as a strong result from the Pallancata mine – both located in Peru – buoyed output. During the three months ended March 31, Hochschild reported attributable... 

Union workers reject Rio-owned IOC offer

By: Henry Lazenby     18th April 2018 The United Steelworkers Union (USW) Local 5795/6731, in Labrador City, rejected the latest labour offer proposed by Rio Tinto’s majority-owned Iron Ore Company of Canada (IOC) and the USW negotiations teams. The union represents about 1 400 workers of whom 90% voted in favour of downing tools... 

Poll shows divided British Columbia opinions for/against Kinder Morgan pipeline expansion

By: Henry Lazenby     18th April 2018 A slim majority of Canadians and British Columbians have come forward in favour of the proposed twinning of Kinder Morgan’s diluted bitumen pipeline connecting Canada’s Alberta oil patch with new markets in the Far East, via the West Coast. A new survey conducted by the nonprofit Angus Reid... 

Northcliff hopeful of ‘timely conclusion’ of Sisson permitting

By: Henry Lazenby     18th April 2018 Project developer Northcliff Resources is hopeful for a timely conclusion of the amendment process of the applicable metal mining effluent regulations, in consultation with all stakeholders and led by Environment Canada and Climate Change, for its Sisson tungsten/molybdenum mine, in New... 

Callinex lifts Nash Creek resources in New Brunswick’s Bathurst Camp

By: Henry Lazenby     17th April 2018 Base metals-focused Callinex Mines has reported a substantial resource increase at the near-surface Nash Creek deposit, in New Brunswick’s Bathurst Mining Camp. The Canadian National Instrument 43-101-compliant indicated resource rose 74% over prior estimates to 963-million pounds of zinc... 

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... 

Vale achieves best-ever quarterly sales in Q1, despite slide in iron output

By: Henry Lazenby     17th April 2018 Brazilian diversified miner Vale has reported its best first-quarter iron-ore sales ever despite production of the iron-making ingredient slipping somewhat during the three-month period. The company reported that output during the quarter ended March 31 slipped 4.9% year-on-year to 81.95-million... 

Copper Mountain lifts Q1 output 10%

By: Henry Lazenby     16th April 2018 British Columbia-focused miner Copper Mountain Mining has reported strong results for the first calendar quarter, as it battled abnormal volumes of snow and a brief power outage to keep production on course with 2018 guidance. The eponymous mine produced 23.2-million pounds of copper equivalent,... 

Largo eyes 25% Maracás Menchen capacity increase, plant improvements

By: Henry Lazenby     16th April 2018 Vanadium producer Largo Resources is looking to increase the production capacity at its flagship Maracás Menchen mine, in Brazil’s Bahia state, by 25% from the current 800 t/m to 1 000 t/m, it said in a statement on Monday. These improvements translate to a 200 t of additional vanadium pentoxide... 

Nemaska secures $150m streaming deal with private lender Orion

By: Henry Lazenby     16th April 2018 Quebec-based lithium producer Nemaska Lithium has secured a $150-million streaming financing deal with private lender Orion Mine Finance Group. Under terms of the streaming deal, Orion will take 14.5% of the lithium hydroxide and lithium carbonate produced at Shawinigan and that are sold to third... 

Gensource offtake MoUs signal supply malaise in N American potash market

By: Henry Lazenby     14th April 2018 The fact that junior Canadian start-up Gensource Potash has been able to secure two memoranda of understanding (MoUs) from separate US offtake partners that support the establishment of a new and independent supply of potash, speaks to a certain malaise in the continent’s crop nutrient market.... 

First ‘Resources for Future Generations’ conference to be held in Vancouver

By: Henry Lazenby     13th April 2018 The Resources for Future Generations conference (RFG2018) is scheduled to make its debut on the Canadian resource conference circuit between June 16 and 21, in Vancouver, and is shaping up to be an event unlike the myriad of competing forums held in Canada throughout the year. RFG2018 chairperson... 

Stornoway's lower Q1 output belies Renard's large diamond potential

By: Henry Lazenby     13th April 2018 Quebec’s sole diamond mine owner and operator Stornoway Diamond Corp has reported higher prices during the first quarter ended March 31 for diamonds produced from its Renard mine, which is increasingly showing a tendency to produce large diamonds. A stronger diamond market in general and the sale... 

International Frontier partnership spuds first hole at Mexican Tecolutla block

By: Henry Lazenby     13th April 2018 Calgary-based oil and gas developer International Frontier Resources (IFR) announced on Thursday that the first evaluation well, TEC-10, has been spudded at its onshore Tecolutla block, in Mexico, which it is developing in partnership with Mexican joint venture (JV) partner Tonalli Energia. The... 

Shareholders give thumbs up for Leagold/Brio merger

By: Henry Lazenby     13th April 2018 The shareholders of both Leagold Mining and Brio Gold have voted in favour of a friendly $264-million all-scrip offer by Leagold to acquire Brio. Brio now intends to seek a final order approving the transaction from the Ontario Superior Court of Justice by next Tuesday. Assuming all other... 

Trevali Q1 output a mixed bag but in line with expectations

By: Henry Lazenby     13th April 2018 Zinc-focused miner Trevali Mining has reported first-quarter production that was generally in line with expectations as previous guidance had indicated a light quarter relative to the rest of the year, owing to the impact of seasonal winter conditions on Caribou’s zinc recoveries, in New... 

Global silver output falls 4.1% in 2017, as industrial demand ramps up – GFMS

By: Henry Lazenby     12th April 2018 A new survey by the GFMS team at Thomson Reuters has found that global silver output had fallen 4.1% in 2017 to 852.1-million ounces. Prepared by GFMS, the report found that total physical demand of 1.02-billion ounces was 25% lower year-on-year, signalling that the tightening of the... 

LG Chem cobalt deal sets tone for battery cathode market

By: Henry Lazenby     12th April 2018 A new deal by Korean battery manufacturer LG Chem and China’s Huayou Cobalt is expected to set the tone for the lithium-ion battery cathode market. The two partners have announced a significant deal worth about $440-million to build a 40 000 t/y lithium-ion battery precursor materials plant and a... 

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... 

Rio Tinto becomes first aluminium producer certified under new sustainability benchmark

By: Henry Lazenby     11th April 2018 Mining giant Rio Tinto has become the first company in the world to be certified under the Aluminium Stewardship Initiative (ASI) – a new benchmark for healthy environmental, social and governance practices across the aluminium lifecycle of production, use and recycling, the company announced on... 

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. 

Canadian crude increasingly attractive for US Gulf Coast refineries as market landscape changes

By: Henry Lazenby     10th April 2018 Canadian crude oil could account for up to one-third of the US Gulf Coast (USGC) region’s heavy oil refining market by 2020, a new report by market research and consultancy firm IHS Markit has found. According to the analyst’s latest research, supplies of Canadian oil sands heavy crude are... 

Global trade politics cast shadow over Canadian M&A action – Oreninc

By: Henry Lazenby     10th April 2018 Market volatility continues to rattle the stock markets and metals commodities are alternately coming under pressure and recovering as US President Donald Trump and China stand-off over trade, or more specifically, their bilateral trade balance. It was against this backdrop that data company... 

Former South African President Kgalema Motlanthe joins Ivanhoe board

By: Henry Lazenby     10th April 2018 Former South African President Kgalema Motlanthe has joined the board of project developer Ivanhoe Mines with immediate effect, the company announced on Tuesday. In his new nonexecutive capacity, Motlanthe is expected to bring a “new dimension” to the company’s strategic evaluations, consensus... 

Mountain Province, Kennady shareholders overwhelmingly vote in favour of merger

By: Henry Lazenby     10th April 2018 Overwhelming majorities of Mountain Province Diamonds and Kennady Diamonds shareholders have approved the proposed merger of the companies. TSX- and Nasdaq-listed Mountain Province said that about 93% of the shareholders present in person or represented by proxy at the shareholder meeting on... 

Lithium Americas rises on Nevada Lithium project resource growth

By: Henry Lazenby     10th April 2018 A new technical report on Lithium Americas’ 100%-owned Lithium Nevada project has increased the compliant measured and indicated resources by about 80% over the prior 2016 estimate, establishing the company as the largest and highest-grade known claystone lithium resource in the US. The National... 

Operations restarted at Newmont's gold mines in Ghana – spokesperson

By: Reuters     10th April 2018 Operations restarted at Newmont Mining's two gold mines in Ghana on Monday, a company spokesperson said, after they were shut down on Saturday following an accident in which six construction workers were killed. Civil works on the mill expansion project at Newmont's Ahafo project, where the... 

Tahoe says La Arena fuel spill fully contained

By: Henry Lazenby     10th April 2018 Dual-listed precious metals producer Tahoe Resources reported on Monday that it had fully contained a fuel spill at the La Arena mine, in Peru. According to a company statement, a contractor overfilled a diesel storage tank on Friday evening, spilling diesel into the containment facilities. 

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... 

US to lead global crude production as soon as 2023 – IEA

By: Henry Lazenby     10th April 2018 US shale production growth is expected to lift the jurisdiction to being the top oil producer globally by 2023, a report from the International Energy Agency (IEA) has shown. According to the IEA, US output will expand by 3.7-million barrels a day, more than half of the world’s expected... 

Kinross says it remains unaffected by US sanctions on Russia

By: Henry Lazenby     10th April 2018 Canadian miner Kinross Gold said on Monday that a fresh round of US sanctions targeting Russian State officials or connected businesses that were announced on Friday does not affect its Russian operations. The US announced on Friday new sanctions against Russian oligarchs with ties to President... 

ATAC, Barrick spending to top C$13m at Yukon-based Rackla gold project

By: Henry Lazenby     9th April 2018 In what is anticipated to be one of the largest exploration programmes in the Yukon this year, partners ATAC Resources and Barrick Gold have announced a C$13-million exploration budget for the Racklan gold project, in the Yukon Territory of North-West Canada. Under an April 2017 earn-in... 

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