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Topic

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. 

Eastplats’ chrome circuit completion targeted for Q3

By: Marleny Arnoldi     15th August 2018 Construction of Vancouver-based Eastern Platinum’s (Eastplats’) retreatment project, at its Crocodile River mine, in South Africa’s North West, is progressing well and all significant items required for the chrome circuit’s completion and commissioning are on site. Completion of the form... 

Nevsun CEO says several companies expressed interest in miner

By: Bloomberg     10th August 2018 Nevsun Resources says companies in China, Japan and Western countries are among potential white knights that have expressed interest in buying the miner as it seeks to ward off a hostile takeover by Lundin Mining. “Several companies have indicated an interest,” Nevsun CEO Peter Kukielski said... 

Equinox’s Brazil mine on track to pour gold before year-end

By: Marleny Arnoldi     3rd August 2018 Vancouver-based Equinox’s Aurizona gold mine, in Brazil, is on track to achieve year-end 2018 gold pour, with the overall project being 60% complete and plant construction being 51% complete at the end of June. Installation of semi-autogenous grinding and ball mills is under way and ore... 

Fording River Operations, Canada

By: Thabi Madiba     3rd August 2018 A steelmaking coal, or metallurgical or coking coal mine located about 29 km north-east of Elkford, in south-eastern British Columbia, Canada. 

New CEO for Turquoise Hill

By: Creamer Media Reporter      30th July 2018 Vancouver-based Turquoise Hill, which focuses on the operation and development of the Oyu Tolgoi copper/gold mine in Mongolia, has appointed Ulf Quellmann as CEO with effect from August 1, following a comprehensive search process. The NYSE- and TSX-listed company said on Monday that the search,... 

Ecobalt investors call for sale, new management on delays

By: Reuters     30th July 2018 Two large shareholders in Canada's Ecobalt Solutions are calling for a change in senior management or the launch of a sales process, saying ongoing mine development delays are wasting a windfall from high battery sector demand. Australian hedge fund Tribeca Investment Partners, which said it... 

Teck Resources profit beats as higher coal prices offset lower sales volumes

By: Reuters     26th July 2018 Canada's Teck Resources, beat analyst estimates for quarterly profit on Wednesday as higher prices more than offset lower-than-expected sales volume of metallurgical coal. The world's second-biggest exporter of steelmaking coal stuck to its annual coal production forecast of 26-million tonnes to... 

Trump started the metals rally, now he's the reason it's ending

By: Bloomberg     11th July 2018 The US election of Donald Trump lit a fire under metals markets in 2016 as investors took a liking to his pro-business agenda. Now, copper and other metals are tanking as Trump’s trade war against China threatens to derail economic growth. Copper sunk to an almost one-year low and has fallen 16%... 

Shell ramps up in Kitimat, raising Canada’s C$40bn LNG hopes

By: Bloomberg     9th July 2018 A flurry of activity in a remote Canadian town is raising optimism that Royal Dutch Shell and its partners are ready to go ahead with the nation’s largest infrastructure project: a C$40-billion liquefied natural gas terminal that could at last unlock energy exports to Asia. The action is... 

Pretium sets H2 guidance for Brucejack

By: Mariaan Webb     9th July 2018 The Brucejack gold mine has achieved steady-stage production and is set to produce between 200 000 oz and 220 000 oz of gold in the second half of the year, British Columbian miner Pretium Resources reported on Monday. The mine produced 111 340 oz of gold in the second quarter, taking production... 

Leading Edge plans demonstration plant at Swedish mine

By: Mariaan Webb     6th July 2018 A busy two quarters are ahead for Vancouver-based Leading Edge Materials at the dormant Swedish graphite mine that it is preparing to bring back to life. On Thursday, the company published an update of plans for its Woxna mine, detailing the strategic research activities that are under way as it... 

First Quantum given time to solve $7.9bn Zambian tax row

By: Bloomberg     5th July 2018 Zambia agreed to give First Quantum Minerals more time to complete its analysis of what the company might owe the southern African nation after it was slapped with a $7.9-billion tax bill, according to the Finance Minister. The Vancouver-based company is challenging the assessment from Zambia’s... 

Cashed-up bargain hunter SSR is on the prowl for next gold mine

By: Bloomberg     22nd June 2018 Flush with cash and armed with a knack for spotting mines producing below their potential, SSR Mining is on the hunt for more assets. “We want to continue to grow, no question,” John DeCooman, VP of strategy and business development, said in an interview Wednesday. “We’ll continue to look for... 

Copper mine planned for Utah National Monument shrunk by Trump

By: Bloomberg     21st June 2018 The red sandstone vistas in Utah’s Grand Staircase-Escalante National Monument may soon be criss-crossed with dump trucks after a Canadian mining company announced plans to begin operations on land cut from federal protection by President Donald Trump. Vancouver-based Glacier Lake Resources... 

First Quantum and Lumina make Ecuador earn-in formal

By: Creamer Media Reporter      21st June 2018 Copper miner First Quantum Minerals (FQM) has signed a formal earn-in agreement with Vancouver-based junior Lumina Gold to earn into the Orquideas and Cascas gold/copper concessions in Ecuador. In terms of the previously announced five-year agreement, FQM has committed to contribute $1.5-million... 

Big metal is conspicuously tight-lipped on US-China rift

By: Bloomberg     16th June 2018 If mining companies are as bothered by Trump’s tariffs as investors appear to be, they’re not saying. A full-out trade war between the US and China could negatively affect the metals and mining sector in several ways. China could respond to Friday’s US tariffs by cutting imports of raw... 

South African pumps range proves popular as US industry ramps up

By: Erin Steenhoff-Snethlage     15th June 2018 Centurion-based, family-owned pump solutions company Hazleton Pumps’ Hippo flameproof submersible pump range received increased interest, particularly from US coal mines, at the Canadian Institute of Mining, Metallurgy, and Petroleum (CIM) Convention in Vancouver, Canada, last month. “There were... 

Equinox Gold says Brazil gold project past halfway mark

By: Creamer Media Reporter      14th June 2018 The Aurizona gold project that Canadian junior Equinox Gold is building in Brazil has moved past the halfway mark, with the overall project now 55% complete and the engineering, procurement and construction management activities about 70% complete. In a project update on Thursday,... 

Lucara appoints new corporate development VP

By: Anine Kilian     14th June 2018 Ayesha Hira has been appointed VP corporate development and strategy at Vancouver-based diamond miner Lucara.    She will also be integral in assisting the CEO with corporate communications and shareholder relations. 

Lithium price may soften this year on ‘slight oversupply’ but EVs driving future optimism 

By: Henry Lazenby     8th June 2018 The lithium price might be in for a rough ride this year, as a supply response might overshoot what the market actually needs, London-based pricing intelligence firm Metal Bulletin’s head of research William Adams tells Mining Weekly in an interview. “We see a slight lithium surplus coming this... 

Lithium price may soften this year on ‘slight oversupply’ but EVs driving future optimism

By: Henry Lazenby     8th June 2018 The lithium price might be in for a rough ride this year, as a supply response might overshoot what the market actually needs, London-based pricing intelligence firm Metal Bulletin’s head of research William Adams tells Mining Weekly in an interview. “We see a slight lithium surplus coming this... 

Great Panther to decide on Coricancha restart in early 2019

By: Simone Liedtke     1st June 2018 Vancouver-based Great Panther expects to be able to make a decision in early 2019 about restarting the past-producing Coricancha precious and base metals mine that it bought in June last year. The gold/silver/zinc/copper underground mine and mill complex, east of Lima, in Peru, has a 600 t/d... 

Oil & gas, mining industries anxious about top brass succession planning

By: Henry Lazenby     31st May 2018 There is real anxiety in the oil and gas and mining industries regarding the lack of aptitude to replace an ageing top-level management talent pool, Stephen Diotte, partner and head of leadership services for Odgers Berndtson tells Mining Weekly Online. He recently joined the executive search... 

Strong PEA opens door for Eastmain to advance Eau Claire

By: Henry Lazenby     31st May 2018 Toronto-headquartered gold developer Eastmain Resources says the strong economics demonstrated in the recent preliminary economic assessment (PEA) on its flagship Eau Claire project, located in Quebec’s James Bay region, has opened the door to proceed to the prefeasibility stage, while allowing... 

SA HIPPO regarded as the safest flameproof submersible pump in the world

By: Creamer Media Reporter      31st May 2018 Besides guaranteeing that the electrical motor winding of the HIPPO Flameproof Slurry Submersible Pump® will never burn out – provided that all the safety controls are connected the pump has earned the reputation of being the safest flameproof submersible pump in the world. When HAZLETON PUMPS®... 

Miners expect to weather one-day Canadian Pacific rail worker strike

By: Henry Lazenby     31st May 2018 A one-day strike by Canadian Pacific (CP) Railway engineers and conductors is not expected to have a lasting impact on Canada’s mining operations, the Mining Association of Canada (MAC) said on Wednesday. Members of Teamsters Canada Rail Conference (TCRC) downed tools on Tuesday night following... 

E3 Metals rises on successful petro-lithium extraction bench tests

By: Henry Lazenby     31st May 2018 The TSX-V-quoted equity of technology firm E3 Metals Corp jumped on Wednesday following an announcement by the company that it has succeeded in concentrating raw brine from 75 mg/ℓ to 1 206 mg/ℓ lithium in less than three hours, while simultaneously removing 99% of the critical metal impurities.... 

‘There is no knowing where the change will end’ – analyst

By: Henry Lazenby     30th May 2018 The wave of change that the electrification of automobiles brings is moving beyond electric vehicles (EV) to the micro, artificial intelligence and autonomous mobility options, which should increasingly be brought into the outlook for the burgeoning market. “Big gambles and bold leadership does... 

Newmont sells royalty, streaming portfolio; takes 28% stake in Maverix Metals

By: Henry Lazenby     30th May 2018 Gold major NYSE-listed Newmont Mining has agreed to sell its royalty and streaming portfolio to junior TSX-V-listed Maverix Metals in a cash-and-scrip deal that will see Newmont take a 28% stake in the aspirant royalty and streaming firm. Under the terms of the deal, Newmont will receive... 

Ottawa buys Kinder Morgan pipeline, expansion project for C$4.5bn

By: Henry Lazenby     29th May 2018 Ottawa announced on Tuesday that it has reached agreement with pipeline builder and operator Kinder Morgan to buy the existing Trans Mountain pipeline and associated controversial expansion project for C$4.5-billion, in the clearest-yet government signal that the oil expansion project is of... 

Kinder Morgan cleans up Trans Mountain spill as high noon looms

By: Henry Lazenby     29th May 2018 Canadian pipeline operator Kinder Morgan reported on Sunday that it is clearing medium crude blend from the Darfield pump station along the existing Trans Mountain pipeline, near Barriere, British Columbia, after oil spilled early on Sunday morning. Trans Mountain, owned by Kinder Morgan, said in... 

Pacton rises on prospective Pilbara property, mining lease buy

By: Henry Lazenby     29th May 2018 Canadian exploration junior Pacton rose to a new 52-week high on Monday after it announced that it has agreed to acquire the Friendly Creek exploration licence and mining leases, in Western Australia, from private Australian vendors. The Vancouver-based company has signed a binding letter of... 

Ontario Chamber of Commerce roundtable calls for provincial resources strategy

By: Henry Lazenby     28th May 2018 A roundtable comprising representatives from diverse sectors of society has resolved to call for clearer legislative direction regarding Ontario’s wealth of resources, the Ontario Chamber of Commerce announced on Monday. Held in Timmins, Ontario, the roundtable heard from representatives... 

Summer doldrums could see lower lows for gold as upside headwinds mount

By: Henry Lazenby     26th May 2018 Gold bug Mickey Fulp does not expect the gold price to break out this year, bar any substantial geopolitical event that upsets the state of the global economy. During a recent mining conference held in Vancouver, the ‘Mercenary Geologist’ told Mining Weekly Online that he expects gold to test new... 

D1 Mint buys 1 500 investment-grade diamonds for new diamond-backed crypto coin

By: Henry Lazenby     25th May 2018 The emergence of blockchain technology is helping to turn diamonds into a new investment asset class that, in turn, could drive future demand for natural diamonds, the creator of a new diamond-backed crypto coin said on Friday. Singapore-based D1 Mint, the creator of the diamond-backed D1 Coin,... 

McEwen Mining PEA outlines new lease on life for El Gallo Complex

By: Henry Lazenby     25th May 2018 Dual-listed precious metals producer McEwen Mining has published a preliminary economic assessment (PEA) on its El Gallo Complex, in Sinaloa state, Mexico, outlining a redevelopment plan called Project Fenix that could add between 10 and 12 additional years to the operation. Based on an updated... 

Centerra agrees to extend first Kyrgyz agreement longstop date by a month

By: Henry Lazenby     25th May 2018 TSX-listed gold producer Centerra Gold has agreed to a month’s extension of the first longstop date of a strategic accord it signed with the Kyrgyz government on September 11, 2017. The Toronto-based miner said the first longstop date is the date by which all conditions precedent to the... 

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