R/€ = 17.34 Change: -0.04
R/$ = 14.59 Change: -0.03
Au 1814.19 $/oz Change: -1.17
Pt 1051.85 $/oz Change: -26.65

North America News

Anglo working towards collaborative decarbonised energy advance across South Africa  

By: Martin Creamer     30th July 2021 Anglo American, which will have all of its South American operations on renewable energy by the end of next year, is working towards trying to achieve a collaborative multi-company government- and Eskom-linked decarbonised energy advance across South Africa. Speaking to Mining Weekly in a Zoom... 

Thor pours first gold in Nigeria

By: Marleny Arnoldi     30th July 2021 TSX-V- and Aim-listed Thor Explorations has poured the first gold at its Segilola project, in Nigeria. The process plant will now be ramped up over the next six weeks, with commercial production expected from September.  

Glencore lowers full-year coal, nickel output guidance

By: Marleny Arnoldi     30th July 2021 Diversified miner Glencore expects to meet the $3.2-billion top end of its full-year earnings before interest and taxes guidance owing to a strong performance from the company’s marketing business. This was despite the company reporting only modest increases year-on-year in copper production,... 

Glencore's Koniambo operation, in New Caledonia
Glencore's Koniambo operation, in New Caledonia

Sibanye advances battery metals strategy with acquisition of French nickel refinery  

By: Marleny Arnoldi     30th July 2021 Precious metals miner Sibanye-Stillwater has taken the next step in expanding its footprint in the battery metals sector by entering into an exclusive put option agreement with French mining group Eramet to acquire the Sandouville nickel hydrometallurgical processing facility, in France, for... 

Nickel ore

Turquoise Hill's profit beats on strong output, metal prices

By: Reuters     30th July 2021 Canadian miner Turquoise Hill Resources on Thursday beat estimates for second-quarter profit, bolstered by a strong output from the Oyu Tolgoi mine in Mongolia and higher prices of copper and gold. Prices of the red metal hit a record high in May, boosted by demand from electric-vehicle makers... 

An image of the Oyu Tolgoi openpit mine in Mongolia.

PTM chief resigns

By: Marleny Arnoldi     30th July 2021 TSX- and NYSE-listed Platinum Group Metals (PTM) has announced the resignation of its president, CEO and director Michael Jones, effective immediately. He will continue to consult for the company until the end of the year to provide transition assistance.  

Alamos writes down Turkey assets

By: Creamer Media Reporter      30th July 2021 Canadian miner Alamos Gold has reported a second-quarter net loss of $172.5-million, or $0.44 a share, compared with a profit of $11.7-million in the corresponding period, after writing down the entire carrying value of its Turkish assets. Alamos reported an impairment charge of $213.8-million... 

An image of Alamos Gold CEO John McCluskey
Alamos Gold CEO John McCluskey

Matawinie construction kicks off

By: Creamer Media Reporter      30th July 2021 The construction of the Matawinie mine, set to become the Western world’s biggest graphite operation, is under way, developer Nouveau Monde Graphite reported on Thursday. The company has completed site preparation in spring and this month started on-site work as part of a 30-month construction... 

An aerial image of the Matawinie mine site in Quebec.

Yamana to expand Jacobina at fraction of original capital estimate

By: Mariaan Webb     30th July 2021 Canadian gold miner Yamana Gold has significantly lowered the capital expenditure (capex) estimate for the expansion of its Jacobina mine, in Brazil, with the project now expected to cost no more than $15-million to $20-million. This is significantly lower than the original estimate of... 

An image showing a person holding a gold bar.

Allegiance raises A$30m for Alabama coal buy

By: Esmarie Iannucci     30th July 2021 ASX-listed Allegiance Coal will acquire US-based family owned Black Warrior Minerals (BWM), which owns the BWM mine in Alabama, having completed a A$30-million capital raise. Under the terms of the agreement, Allegiance would purchase the BWM mine for $4-million in cash and would replace the... 

OceanaGold posts golden quarter

By: Esmarie Iannucci     30th July 2021 Dual listed gold miner OceanaGold has reported an increase in gold production and revenue for the quarter ended June, compared with the first quarter. Gold production in the second quarter reached 93 848 oz, compared with the 83 191 oz produced in the previous quarter, taking half-year... 

Nearly a quarter of Sibanye’s South African employees now vaccinated

By: Marleny Arnoldi     29th July 2021 JSE- and NYSE-listed Sibanye-Stillwater has vaccinated just over 8 500 of its South African employees in the last week, bringing the total number of vaccinated employees to 18 500. About 23% of the company’s 80 000-strong workforce in South Africa are now vaccinated.  

Anglo on trajectory towards becoming minerals solutions provider  

By: Martin Creamer     29th July 2021 Diversified mining and marketing company Anglo American, which shot the lights out on Thursday with the presentation of an all-time record set of half-year results, is on its way to becoming a minerals solutions provider rather than a digger of holes. The London- and Johannesburg-listed Anglo is... 

Picture for presentation of results July 2021
Anglo American results presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

De Beers bounces back to 2019 levels with outstanding performance  

By: Martin Creamer     29th July 2021 Global consumer demand for diamonds continued to recover from the impact of Covid, supported by fiscal stimulus in the US and the roll-out of vaccines, De Beers Group said on Thursday when it was credited with helping Anglo American to achieve an all-time record half-year, a period in which De... 

Picture used with video interview of De Beers CFO
De Beers Group CFO Sarah Kuijlaars interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Kinross advances $150m Manh Choh project to feasibility stage

By: Mariaan Webb     29th July 2021 Canadian miner Kinross has competed an initial scoping study for its 70%-owned Manh Choh project, in Alaska, and this $150-million project is now proceeding to a feasibility study. Except for capital estimate, the results of the scoping study are largely in line with the estimates at the time... 

Drilling under way at a project site in Alaska

Orla reports PFS results for Panama gold project

By: Creamer Media Reporter      29th July 2021 Vancouver-based Orla Mining has released prefeasibility study (PFS) results for its Cerro Quema oxide gold project, which delivered an aftertax net present value of $176-million and an internal rate of return of 38%. The study considers a 10 000 t/d operation, which will produce an average of 81... 

Kinross unveils share buyback plan, lowers Tasiast restart costs

By: Mariaan Webb     29th July 2021 Canadian gold mining company Kinross on Wednesday announced announced a share buyback programme and rewarded shareholders with a quarterly dividend of $0.03 a share. The Toronto-headquartered company, which also reported its second-quarter results, said it had received TSX approval to establish... 

Kinross CEO Paul Rollinson
Kinross CEO Paul Rollinson

Agnico Eagle reports solid Q2 results, reintegrates Nunavummiut workers

By: Mariaan Webb     29th July 2021 Agnico Eagle posted solid second-quarter results and remains on track to achieve its production and cost guidance this year, the Canadian gold miner reported on Wednesday. The Toronto-listed miner, which operates in Canada, Mexico and Finland, increased its second-quarter gold production from... 

An image showing the LaRonde Complex, in Quebec.
The LaRonde Complex, in Quebec.

World-beating Anglo reports record half-year earnings of $12.1bn 

By: Martin Creamer     29th July 2021 Diversified mining company Anglo American on Thursday reported a record half-year financial performance in its position as the best of the world’s top-five global mining companies. Anglo calculates that its elevated global position is poised to continue, assisted by its superior depth, breadth... 

Picture from Anglo American
Anglo American CEO Mark Cutifani

Agnico Eagle studying wind power solution for Hope Bay

By: Mariaan Webb     29th July 2021 Precious metals miner Agnico Eagle has signed a memorandum of understanding with a consortium to develop a renewable energy plan for its newly acquired Hope Bay mine, in Kitikmeot region of Nunavut. A consortium of Tugliq Energy and Hiqiniq Energy – a subsidiary of Inuity-owned economic... 

An image of wind turbines.

Consumer demand for gold returning – WGC 

By: Donna Slater     29th July 2021 Despite dampened investor demand, gold investment increased in the second quarter of this year as a result of consumer investment into the commodity, with demand of 955.1 t – a 9% rise from the first quarter, the World Gold Council (WGC) reports. The WGC’s latest ‘Gold Demand Trends’ report,... 

A gold pour at Elikhulu mine
World Gold Council market intelligence manager Krishan Gopaul discusses gold’s performance in the second quarter of this year

BlackRock support sought in bid to end 5-month coal-mine strike

By: Bloomberg     29th July 2021 Coal miners from states including Alabama and West Virginia picketed outside BlackRock’s New York headquarters Wednesday in a bid to get the world’s largest asset manager to pressure Warrior Met Coal for better wages and employee benefits. About 120 miners and supporters descended on BlackRock’s... 

An image showing Members of the United Mine Workers of America picket during a strike against Alabama's Warrior Met Coal at the BlackRock offices in New York.
Members of the United Mine Workers of America picket during a strike against Alabama's Warrior Met Coal at the BlackRock offices in New York.

Suncor cuts Fort Hills oil output guidance amid mine instability

By: Bloomberg     29th July 2021 Suncor Energy cut its full-year production guidance at its Fort Hills oil sands mine to between 45 000 bbl/d and 55 000 bbl/d from a previous 65 000 bbl/d to 85 000 bbl/d because of additional required work on the mine. Instability on the south side of the mine requires so-called overburden... 

Suncor cuts Fort Hills oil output guidance amid mine instability

Judge says Native Americans may join lawsuit against Nevada lithium project

By: Reuters     29th July 2021 A US federal judge ruled on Wednesday that Native American tribes may join a lawsuit seeking to block Lithium Americas Corp's proposed Thacker Pass mine in Nevada, the latest attempt to halt development of what could become one of the largest US producers of the electric vehicle battery metal.... 

First Quantum shelves stake sale for Zambia copper mines

By: Reuters     28th July 2021 Canadian copper miner First Quantum Minerals has shelved plans to sell a stake in its Zambian copper mines, COO Tristan Pascall said on Wednesday. China’s Jiangxi Copper Co had been speculated as a potential suitor for minority interests in First Quantum’s Kansanshi and Sentinel mines.... 

First Quantum shelves stake sale for Zambia copper mines

Computing, food tech among many new PGM opportunity areas ­– Anglo Platinum  

By: Martin Creamer     28th July 2021 The computing world is an opportunity area for platinum group metals (PGMs), along with food technology, alloy development, medical advance, waste control, battery and storage  – and that is on top of the now much-celebrated and pervasive green hydrogen feedstock phenomenon. JSE-listed Anglo... 

Picture of Natascha Viljoen from Creamer Media files.
Anglo American Platinum CEO Natascha Viljoen interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Demand for traditional and nontraditional nuclear power growing – Cameco

By: Mariaan Webb     28th July 2021 Uranium major Cameco is excited about the future of nuclear power generation, CEO Tim Gitzel said on Wednesday, stating that demand for both traditional and nontraditional uses of nuclear power was growing as the focus on electrification took hold. The vertically integrated company believes it... 

An image of Cameco CEO Tim Gitzel
Cameco CEO Tim Gitzel

Rio posts record results

By: Esmarie Iannucci     28th July 2021 Diversified major Rio Tinto has reported record financial results for the six months to June, with sales revenues up by 71% on the previous corresponding period, and underlying earnings up 156%. “Government stimulus in response to ongoing Covid-19 pressures has driven strong demand for our... 

Teck lowers FY coal guidance on BC wildfire rail disruptions

By: Mariaan Webb     28th July 2021 Canadian diversified mining major Teck Resources has lowered its full-year guidance for metallurgical coal by half-a-million tonnes, owing to wildfires in British Columbia disrupting coal transportation. The full-year coal guidance has been lowered to between 25-million and 26-million tonnes and... 

Chile regulator files charges against Canada's Lundin over blasting

By: Reuters     28th July 2021 Chile's environmental regulator said on Tuesday that it had filed charges against Canadian miner Lundin's Candelaria copper mine for breaches in its operational permits, including violations related to its blasting operations. The Andean country's environmental regulator, SMA, said it had... 

Jervois completes first part of funding drive

By: Esmarie Iannucci     28th July 2021 Triple-listed Jervois Mining has raised some A$136-million following the completion of an institutional placement and the institutional component of its entitlement offer. The company earlier this week announced a A$313-million equity raise comprising an A$87-million institutional placement and... 

Founding Glencore partner Issroff to join cobalt miner Jervois board

By: Mariaan Webb     27th July 2021 Australia-headquartered cobalt and nickel mining and refining company Jervois Mining has recruited David Issroff, a founding partner with commodities giant Glencore and an ex-Xstrata board member, to serve as a nonexecutive director of its board. Jervois, which this week announced the... 

An image of David Issroff
David Issroff

Former Wyoming Senator Mike Enzi dies after bike accident

By: Bloomberg     27th July 2021 Former Wyoming US Senator Mike Enzi has died, according to an announcement on his official Twitter page. He was 77. The former senator had recently sustained serious injuries while riding a bicycle, his family said in a statement earlier on Monday. Enzi came to the Senate in 1997, after... 

If done responsibly, coal mining can add value to economies – panel

By: Marleny Arnoldi     27th July 2021 JSE-listed coal trader Thungela Resources CEO July Ndlovu says it has been a polarising year for the coal industry, with many opposing views on the commodity and the way forward for the industry. For him, the “just transition” represents not simply a switch from fossil fuels to renewables for... 

Cutting coal not as clear-cut as some wish, says analyst

By: Marleny Arnoldi     27th July 2021 Although climate and environmental concerns have resulted in an energy policy that shies away from fossil fuels, demand for coal remains prevalent in many parts of the world, XMP Consulting senior coal analyst Xavier Prévost has said. Speaking during the Coal Industry Day 2021 conference, which... 

Critical minerals present investment opportunities

By: Tasneem Bulbulia     27th July 2021 Various minerals are critical inputs in new technology and, therefore, present opportunities for investors, research geologist Byron King said during the Green Energy Investment Opportunities virtual conference on July 27. He expounded that rare-earth minerals were used to make high-tech weapons,... 

Technology will secure coal’s place in a sustainable future, says WCA

By: Marleny Arnoldi     27th July 2021 In opening the Coal Industry Day 2021 on July 27, mining entrepreneur Bernard Swanepoel said the coal industry remains a significant revenue, jobs and energy contributor to the South African economy. He added that a complete faze-out scenario of coal-fired power generation was still decades away.  

Exxaro wheel loader

BHP outbids Wyloo with C$325m cash offer for Noront

By: Mariaan Webb     27th July 2021 Diversified major BHP on Tuesday announced a recommended cash offer for Canadian nickel developer Noront Resources, outbidding Australian mining magnate Andrew Forrest’s Wyloo Metals. The offer of C$0.55 a share valued Noront, which is active in Ontario’s Ring of Fire cluster, at C$325-million.... 

BHP outbids Wyloo with C$325m cash offer for Noront
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