R/€ = 19.23 Change: -0.07
R/$ = 17.00 Change: 0.01
Au 1784.11 $/oz Change: 8.81
Pt 824.00 $/oz Change: 8.95

North America News

Caldas announces Marmato expansion PFS

By: Simone Liedtke     Updated 2 hours 17 minutes ago Canadian junior minor Caldas Gold has completed an updated mineral resource estimate for its Marmato project and also announced the preliminary results of a prefeasibility study (PFS) for the project, in Colombia. The PFS affirms the economic viability of the underground expansion of the Marmato... 

Ivanhoe speeds ahead with Kakula underground, plant development

By: Marleny Arnoldi     Updated 2 hours 28 minutes ago TSX-listed Ivanhoe Mines continues to progress ahead of schedule with underground development of the Kakula copper mine, in the Democratic Republic of Congo (DRC). The company, together with its joint venture (JV) partner Zijin Mining Group, has completed more than 17 km of underground... 

Covid-19 stops Caucharí-Olaroz construction

By: Creamer Media Reporter      Updated 2 hours 35 minutes ago Construction of the Caucharí-Olaroz lithium project, in Jujuy, Argentina, has been halted, after two workers tested positive for Covid-19. Both workers were asymptomatic and in good health, dual-listed Lithium Americas said on Monday. Construction activities had been temporarily suspended while... 

Power Metal raises £1m to accelerate exploration

By: Schalk Burger     Updated 2 hours 35 minutes ago Aim-listed metals exploration and development company Power Metal Resources has raised £1-million to accelerate exploration across its portfolio of projects and to commercialise select project interests. The funds raised will increase the available working capital (cash and listed financial... 

Air Products and thyssenkrupp sign green hydrogen agreement

By: Schalk Burger     Updated 3 hours ago NYSE-listed industrial gases multinational Air Products and industrial technology multinational thyssenkrupp on July 5 announced that they had signed an exclusive strategic cooperation agreement to develop world-scale electrolysis plants to generate green hydrogen. The two companies will... 

Fortuna suspends Caylloma operations for two weeks

By: Simone Liedtke     Updated 3 hours ago NYSE- and TSX-listed Fortuna Silver Mines has voluntarily suspended operations for two weeks at its Caylloma mine, in Peru, following the sudden death of a 34-year old contractor employee on July 5. The cause of death has not yet been determined, but the individual had completed a health check,... 

Fortuna suspends Caylloma operations for two weeks

Endeavour permitted to mine extended area around Houndé mine

By: Marleny Arnoldi     Updated 3 hours ago TSX-listed Endeavour Mining has been granted a mining permit extension by the Burkina Faso government, covering the full Kari Area at its Houndé gold mine. The Kari area hosts the Kari Gap, Kari South, Kari Pump, Kari Center and Kari West discoveries.  

Third-quarter ferrochrome benchmark price rolls over at $1.14/lb

By: Martin Creamer     Updated 4 hours ago The European benchmark ferrochrome price for the third quarter of 2020 has been settled at $1.14/lb, a rollover from the second quarter of 2020, JSE-listed Merafe Resources advised shareholders on Monday. This price remains an increase of 12.9% on the first-quarter price of $1.01/lb. 

Third-quarter ferrochrome benchmark price rolls over at $1.14/lb
Photo by Creamer Media
Lion ferrochrome.

Copper poised to maintain upward price trajectory, says ERG CEO

By: Simone Liedtke     Updated 4 hours ago Diversified miner Eurasian Resources Group (ERG) says the unprecedented levels of stimulus across the world are set to sustain the recovery in copper demand in the longer term, with the supply impact of the Covid-19 pandemic expected to extend beyond this year. Growth drivers include the digital... 

Nevada Copper appoints new CFO

By: Creamer Media Reporter      6th July 2020 Toronto-listed Nevada Copper, which owns the Pumpkin Hollow mine in Nevada, US, has appointed André van Niekerk as CFO. Van Niekerk is succeed Braam Jonker on July 13. Announcing the appointment on Monday, the company said Van Niekerk had extensive capital market experience and was responsible... 

Lundin Gold provides 2020 outlook for Ecuador mine

By: Mariaan Webb     6th July 2020 TSX-listed Lundin Gold has issued a 2020 production guidance for its Fruta del Norte mine, in Ecuador, after confirming on Sunday that operations have resume. The mine is forecast to produce between 200 000 oz and 220 000 oz during the year, of which 150 000 oz to 170 000 oz will be produced in... 

La Mancha's $100m investment in Endeavour completed

By: Schalk Burger     6th July 2020 TSX-listed gold producer Endeavour has issued 4.51-million shares to La Mancha in exchange for $100-million. The transaction came about as La Mancha chose to exercise its antidilution rights following Endeavour's merger with fellow West Africa-focused miner Semafo. 

Auteco shakes tin for Canadian gold

By: Esmarie Iannucci     6th July 2020 Junior minerals explorer Auteco Minerals is hoping to raise A$30.4-million through a fully underwritten share placement. The ASX-listed company on Monday announced that it would issue 225-million new shares, representing some 16.8% of the company’s existing issued capital, at a price of 13.5c... 

Epiroc aims to halve carbon dioxide emissions in operations as part of 2030 goals

By: Schalk Burger     3rd July 2020 Mining and infrastructure equipment multinational Epiroc this week released its 2030 sustainability goals, which include halving carbon dioxide emissions from operations, transport and major suppliers, as well as from customers’ use of Epiroc equipment. "These are challenging targets, but we will... 

Reliable connectivity essential for effective IoT

By: Schalk Burger     3rd July 2020 A global study conducted by satellite communications multinational Inmarsat found that only 15% of mining organisations consistently have access to reliable connectivity for their Internet of Things- (IoT-) enabled projects. Inmarsat’s research programme into IoT trends 'The Rise of IoT in... 

Sasol narrows immediate asset-disposal focus to ‘top ten’ list 

By: Terence Creamer     3rd July 2020 Chemicals and energy group Sasol has developed a list of ten major assets that will be prioritised for sale in the coming weeks and months as it moves to streamline the business into what is being termed ‘Sasol 2.0’, while also raising proceeds to help it reduce a $9.5-billion debt burden. In... 

Sasol narrows immediate asset-disposal focus to ‘top ten’ list
Photo by Creamer Media
Sasol CFO Paul Victor

Moon metals discovery aids development of lunar formation theories

By: Rebecca Campbell     3rd July 2020 Scientists using data from the US National Aeronautics and Space Administration’s (Nasa’s) Lunar Reconnaissance Orbiter (LRO) spacecraft have discovered evidence that the Moon might, underneath its surface, be richer in metals (such as iron and titanium) than had previously been believed. Nasa is... 

Moon metals discovery aids development of lunar formation theories

Reopening of economies boosting metals prices 

By: Marleny Arnoldi     3rd July 2020 Since lockdown measures have started to ease around the world to contain Covid-19, ratings and research agency Standard & Poor’s Global (S&P Global) says the reopening of economies, combined with monetary stimulus by banks and governments, has allowed industrial metal prices to rise. However,... 

Reopening of economies boosting metals prices

Turquoise Hill to defer any interim funding talks on Mongolian mine with Rio Tinto

By: Reuters     3rd July 2020 Turquoise Hill Resources Ltd said on Thursday it has decided to defer further discussions on any interim funding arrangements with Rio Tinto for its Mongolian copper project. The Mongolian state owns 34% in the Oyu Tolgoi copper project, while Rio's majority-owned Turquoise Hill has a 66% stake. 

Hawkstone increases Utah landholding

By: Esmarie Iannucci     3rd July 2020 The share price of ASX-listed Hawkstone Mining settled 20% higher on Friday after the company announced that its landholding at the Western Desert gold/copper project, in Western Utah, had increased by 950%. The company on Friday told shareholders that since acquiring the project in March of... 

Public to have its say on Stibnite gold mine in Idaho

By: Creamer Media Reporter      3rd July 2020 The United States Forest Service (USFS) and other regulators working on the review of the Stibnite gold project, in central Idaho, have released an updated permitting schedule, which indicates that the draft environmental-impact statement (EIS) will be released next month. Once the draft EIS is... 

Cost blow-outs and delays confirmed at Oyu Tolgoi

By: Esmarie Iannucci     3rd July 2020 Mining major Rio Tinto on Friday confirmed a cost blow-out of between $1.3-billion and $1.8-billion at the Oyu Tolgoi copper project, in Mongolia, compared with the original $5.3-billion capital estimates. Meanwhile, first sustainable production has been delayed by between 21 and 29 months... 

Cost blow-outs and delays confirmed at Oyu Tolgoi

Teck Namibia to potentially gain 26.9% interest in Deep-South

By: Tasneem Bulbulia     2nd July 2020 TSX-listed Deep-South Resources and Teck Namibia, a wholly owned subsidiary of Teck Resources, have agreed to amend the sale agreement of February 2017, whereby Deep-South acquired Teck’s interest in the Haib Copper project, in Namibia. The sale agreement stipulated that Deep-South make cash... 

Covid kills 13 mineworkers, no foreigners back at work  

By: Martin Creamer     2nd July 2020 Thirteen mineworkers have now succumbed to the coronavirus, Minerals Council South Africa public affairs and transformation senior executive Tebello Chabana said on Thursday. Of the 13 who have died, seven were employed in platinum mining in North West province, which has the most cases at 1 413... 

Covid kills 13 mineworkers, no foreigners back at work
Minerals Council South Africa Covid update covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Mining will need long-term strategies to survive new normal 

By: Simone Liedtke     2nd July 2020 For the mining industry to be successful post-Covid-19, the industry will require long-term strategies to deal with its challenges, which includes the pandemic. In a webinar hosted by the London Bullion Market Association (LBMA) on July 2, investment management firm Orion Resource Partners... 

Mining will need long-term strategies to survive new normal

Power Metal records update at Alamo in the US

By: Tasneem Bulbulia     2nd July 2020 Aim-listed Power Metal Resources has completed the registration of the additional claims at its Alamo gold project in Arizona, in the US. The follows a previous update where the company confirmed that following a successful site visit in January, its local partner had completed the staking of... 

Pandemic helps Russia tighten its grip on a key strategic metal

By: Bloomberg     2nd July 2020 As the coronavirus pandemic pummeled demand from key customers in the auto industry, Russia’s biggest mining company quietly tightened its grip on the palladium market. MMC Norilsk Nickel was already the No. 1 miner of the metal used in autocatalysts, but the crisis has allowed it to gain market... 

Pandemic helps Russia tighten its grip on a key strategic metal
A general view shows Russia's Arctic city of Norilsk. More than a quarter of the people living in and around the city work for Norilsk Nickel, which produces nickel and palladium.

Hydrogen-powered aviation preparing for takeoff – study 

By: Martin Creamer     2nd July 2020 Hydrogen as an energy source will play a key role in transforming aviation into a zero-carbon/climate-neutral system over the next few decades, an independent study states in estimating that the first short-range hydrogen-powered demonstrator could be developed by 2028 if sufficient investments... 

Hydrogen-powered aviation preparing for takeoff – study
Strong steps being taken to clean up the skies by using hydrogen to power aircraft.

Pan African launches ADR programme in the US

By: Donna Slater     2nd July 2020 Midtier gold producer Pan African Resources has established a sponsored Level-1 American Depository Receipt (ADR) programme on the over-the-counter market in the US with the Bank of New York Mellon being the appointed depository. In doing so, Pan African joins a number of its peers that have... 

Desormeaux joins Endeavour Mining as West Africa's largest gold miner is born

By: Mariaan Webb     2nd July 2020 Benoit Desormeaux has joined TSX-listed Endeavour Mining as president, following the completion of the company’s C$1-billion deal to create West Africa’s largest gold miner. Desormeaux was the CEO and president of Semafo, which Endeavour bought in an all-share transaction. Semafo’s CFO, Martin... 

Desormeaux joins Endeavour Mining as West Africa's largest gold miner is born
Endeavour Mining president Benoit Desormeaux

Argonaut and Alio complete merger

By: Creamer Media Reporter      2nd July 2020 Toronto-listed miner Argonaut Gold and Alio Gold have completed their business, creating a North American, diversified precious metals producing company with a strong portfolio of growth assets. “By combining Argonaut with Alio, we have created a diversified, intermediate gold producer with... 

Rio adds to board

By: Esmarie Iannucci     2nd July 2020 Diversified major Rio Tinto has added a strategy and development role to its executive committee, with Peter Toth appointed as a group executive. The new role will be focused on leading Rio’s transformation efforts around portfolio, climate change, and closure, working in partnership with the... 

Nevada Gold Mines excelled in its first year, says Barrick

By: Creamer Media Reporter      1st July 2020 Nevada Gold Mines (NGM), established a year ago on Wednesday, has posted an exceptional performance in its first 12 months of operation, delivering real value to all its stakeholders, says Barrick CEO Mark Bristow. Canada’s Barrick operates NGM, the world’s largest gold mining complex, and owns... 

Nevada Gold Mines excelled in its first year, says Barrick
The Goldstrike mine forms part of Nevada Gold Mines.

Commodity freighters are shrugging off Covid-19. For now

By: Bloomberg     1st July 2020 The cost of moving commodities like coal and iron-ore across the world’s oceans is surging as China lifts cargo purchases. Whether the rally will withstand the economic aftershocks of the coronavirus is a thornier question. Rates for giant capesize ships climbed to almost $31 000 a day on... 

Business groups say flexibility needed to implement new North American trade deal

By: Reuters     1st July 2020 US, Mexican and Canadian business groups applauded a new North American trade deal's entry into force on Wednesday, but said more work and flexibility was needed to overcome challenges including implementation of new labor and automotive rules. The US Chamber of Commerce, the Canadian Chamber of... 

Hydrogen to fuel giant mining trucks in green shift by Anglo 

By: Bloomberg     1st July 2020 Anglo American is advancing plans to convert its fleet of giant diesel-fueled mine trucks to hydrogen power as the company seeks to burnish its green credentials. More than 400 mine-haul trucks could be rebuilt to use hydrogen fuel, with a pilot project starting next year at Anglo American... 

Bullion platinum investment at an all-time high, says WPIC

By: Marleny Arnoldi     1st July 2020 The World Platinum Investment Council (WPIC) reports that sales of platinum bullion products – retail bars and coins – surged to record highs in the first quarter of the year, with purchases totalling 312 000 oz. Annualised, this represents a rate that is five times higher than that experienced... 

Metso Outotec can drive industries towards responsible use of natural resources

By: Marleny Arnoldi     1st July 2020 Metso Minerals, a subsidiary of global industrial company Metso, has officially merged with Finnish-listed technology company Outotec. The merger has formed a leading process technology, equipment and services company serving the minerals, metals and aggregates industries. The combined company... 

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