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North America News

Occidental makes Anadarko bid, seeks to derail Chevron deal

By: Bloomberg     Updated 20 minutes ago Occidental Petroleum is starting a bidding war for Anadarko Petroleum, making a $38-billion counteroffer in attempt to break up the proposed takeover by Chevron. Occidental said Wednesday it’s offering $76 a share in cash and stock, a premium of about 20% over Chevron’s April 12 agreement to buy... 

World's central banks want more gold as India joins spree

By: Bloomberg     Updated 2 hours 46 minutes ago India’s central bank is likely to join counterparts in Russia and China scooping up gold this year, adding to its record holdings and lending support to worldwide bullion demand as top economies diversify their reserves. The Reserve Bank of India’s purchases are part of a wider picture across... 

World's central banks want more gold as India joins spree

Fortune finds potential new site for Nico refinery

By: Creamer Media Reporter      Updated 3 hours ago Cobalt project developer Fortune Minerals has entered into an option to buy an alternative site to construct the proposed hydrometallurgical refinery that will process metal concentrates from the planned Nico cobalt/gold/bismuth/copper mine, after the rural municipality of Corman Park last month... 

Alaska mine expected to lead Northern Star production recovery

By: Esmarie Iannucci     Updated 4 hours ago Gold miner Northern Star Resources is poised for a record quarter of production during the three months to June, as the Pogo mine, in Alaska, gears up to increase its output. Northern Star on Wednesday reported that gold production in the March quarter reached 186 255 oz, down slightly from the... 

Alaska mine expected to lead Northern Star production recovery
Photo by Bloomberg
Northern Star CEO Bill Beament

Agnico bets on high grade gold as it digs in Canada's remote north

By: Reuters     Updated 5 hours ago Agnico Eagle Mines is doubling down this year on Nunavut, Canada’s least developed territory, betting that the high-grade gold ores and slim competition there will offset the risks of digging in the remote location in the far north. For miners desperate to shore up reserves, the choice is often... 

Agnico bets on high grade gold as it digs in Canada's remote north

Teck starts 'quiet dialogue' on selling some copper projects

By: Bloomberg     Updated 5 hours ago Teck Resources, focusing on its massive expansion of the Quebrada Blanca mine in Chile, expects to sell some or all of its stakes in two smaller Latin American copper projects by next year, CEO Don Lindsay says. The Zafranal and San Nicolas projects could be sold by early 2020, Lindsay said... 

Global Witness welcomes LME’s new responsible sourcing rules 

By: Marleny Arnoldi     23rd April 2019 International nongovernmental organisation (NGO) Global Witness has welcomed the London Metal Exchange’s (LME’s) new responsible sourcing rules, which were published for public consultation on Tuesday. The exchange’s responsible sourcing roadmap is intended for LME-listed brands and builds on a... 

Global Witness welcomes LME’s new responsible sourcing rules

Teck Resources beats profit estimates on energy business

By: Reuters     23rd April 2019 Canadian miner Teck Resources, the world's second-biggest exporter of steelmaking coal, reported a better-than-expected quarterly profit on Monday, boosted by its energy business and a slight increase in commodity prices. The miner said even though commodity prices were lower than a year ago,... 

Teck Resources beats profit estimates on energy business
Teck CEO Don Lindsay

Cornerstone and Newcrest in definitive Ecuador option agreement

By: Creamer Media Reporter      23rd April 2019 Australian major Newcrest has signed a binding option and farm-in agreement with exploration company Cornerstone Capital Resources over the Caña Brava and Tioloma properties in Ecuador, targeting epithermal gold/silver and porphyry gold/copper deposits. The agreement replaces the heads of... 

World's No 1 gold complex taking shape – Barrick

By: Mariaan Webb     23rd April 2019 The creation of the world’s largest gold producing complex, the yet-to-be-named joint venture (JV) of Barrick Gold and Newmont Goldcorp in Nevada, has cleared all regulatory conditions required for its completion, Canadian miner Barrick reported on Monday. This comes as the US Federal Trade... 

World's No 1 gold complex taking shape – Barrick
Newmont's Gary Goldberg and Barrick's Mark Bristow pictured together in March.

Roxgold to start drilling at newly acquired Séguéla

By: Marleny Arnoldi     18th April 2019 TSX-listed Roxgold has completed a previously announced portfolio acquisition worth $20-million from Newcrest West Africa, which comprises 11 exploration permits in Côte d'Ivoire. The transaction includes the Séguéla project, which CEO and president John Dorward says has significant growth... 

Orion reawakening geological giant in Northern Cape  

By: Martin Creamer     18th April 2019 Three years ago, Orion Minerals was trading at an eighth of an Australian cent a share. It had a market capitalisation of $4-milllion and set out to find something that could be turned into a mine. The good news is that the company found that opportunity in South Africa, and its share price has... 

Orion reawakening geological giant in Northern Cape
Mining Weekly Online’s Martin Creamer interviewing Orion Minerals CEO Errol Smart. Video: Nicholas Boyd. Photographs: Dylan Slater.

Barrick's quarterly performance in line with operating plan

By: Mariaan Webb     18th April 2019 Gold mining major Barrick Gold on Thursday reported a solid operating performance across its portfolio, announcing preliminary first-quarter production of 1.37-million ounces of gold and 106-million pounds of copper. This, the NYSE- and TSX-listed company said, was in line with its operating... 

Barrick's quarterly performance in line with operating plan

TomaGold spin-out Monster Lake takes option over property

By: Creamer Media Reporter      18th April 2019 TSX-V-listed TomaGold’s proposed spin-out Monster Exploration has entered into a share purchase option agreement to acquire an option over the Philibert property, 10 km south-east of its Monster Lake property in Quebec's Chibougamau mining camp. Pursuant to the agreement, Monster has the right... 

Gen Mining interested in Sibanye’s Marathon PGMs deposit

By: Mariaan Webb     18th April 2019 Minerals exploration company Generation Mining has struck an agreement to potentially earn up to 80% in Sibanye-Stillwater’s Marathon platinum group metals deposit in northern Ontario. Gen Mining has signed a letter of intent with Sibanye to earn an initial 51% interest in the property, which... 

LME ready to address flaws in its metal storage rules

By: Reuters     18th April 2019 The London Metal Exchange is poised to deal with a loophole in its warehousing rules, exposed after commodity trader Glencore bought large amounts of aluminium earlier this year, sources familiar with the matter said. But the exchange will have to wait until a complaint lodged by Glencore with... 

Fitch warns iron-ore price increase may be ‘more structural’ than initially thought

By: Simone Liedtke     18th April 2019 The sharp rise in iron-ore prices to over $90 per dry metric ton (dmt) from under $75/dmt since January, may be “more structural than initially anticipated”, says Fitch Ratings. It believes sustained iron-ore prices of above $85/dmt over the next 9 to 12 months should provide cash flow windfalls... 

Sasol reports stabilisation in synfuels output  

By: Terence Creamer     18th April 2019 Chemicals and energy group Sasol reports that output at its Secunda Synfuels Operations (SSO) stabilised in the third quarter, following the total shutdown of the West factory during the first half of its 2019 financial year, which had negatively affected production. In a note to shareholders,... 

Sasol reports stabilisation in synfuels output

South32 coking coal output down 37%, energy coal hit by community protests  

By: Esmarie Iannucci     18th April 2019 Diversified miner South32 has lowered its energy coal and alumina production expectations for the full year, following a tough March quarter. Energy coal production for the quarter declined by 1% on the previous quarter, to 6.3-million tonnes, while metallurgical coal production was down 37% to... 

South32 coking coal output down 37%, energy coal hit by community protests
South32 CEO Graham Kerr

Majority of B2Gold’s mines outperform guidance in strong first quarter

By: Nadine James     18th April 2019 TSX-listed B2Gold exceeded its first-quarter production and sales guidance by 6%, producing 230 859 oz and selling 232 076 oz of gold. The Fekola, Masbate, Otjikoto and El Limon mines all exceeded their targeted production, with the Mali-based Fekola and the Philippines-based Masbate mines,... 

Wray to succeed Sam Coetzer as Golden Star CEO

By: Simone Liedtke     18th April 2019 TSX- and NYSE-listed Golden Star Resources on Thursday announced that Sam Coetzer will be leaving the company on April 30, and that Andrew Wray has been appointed as president and CEO, effective May 1. Golden Star chairperson Tim Baker said Wray “combines significant experience in the sector with... 

Sherritt sees no impact as Trump lifts ban on lawsuits against foreign firms in Cuba

By: Reuters     18th April 2019 Canadian miner Sherritt International will not be materially impacted by the Trump administration's decision to allow lawsuits in US courts against foreign firms in Cuba, the Canadian mining firm said on Wednesday. The Trump administration will allow lawsuits in US courts for the first time... 

Sherritt sees no impact as Trump lifts ban on lawsuits against foreign firms in Cuba
US President Donald Trump

NGEx to separate Argentina and Chile projects with spin-out

By: Mariaan Webb     18th April 2019 Vancouver-based copper/gold explorer and developer NGEx Resources has announced that it will spin out its Los Helados project, in Chile, into a wholly-owned subsidiary, Spinco, to allow it to focus on the more advanced Josemaría project, in Argentina, which is now advancing to the feasibility... 

Hudbay says largest shareholder to vote for its nominees

By: Mariaan Webb     18th April 2019 TSX- and NYSE-listed Hudbay Minerals said on Wednesday that its largest shareholder, Letko, Brosseau & Associates, had confirmed that it would vote for the company's director nominees at the upcoming shareholders meeting. Letko, Brosseau & Associates exercises investment control or direction... 

Stornoway names new CFO

By: Creamer Media Reporter      18th April 2019 TSX-listed Stornoway Diamond Corporation has a new CFO. Dino Rambidis, who Stornoway describes as a seasoned leader with extensive financial experience, has replaced Orin Baranowsky with immediate effect. 

Goldcorp and Newmont successfully create gold behemoth

By: Creamer Media Reporter      18th April 2019 Gold miners Goldcorp and Newmont have successfully closed their $10-billion merger, creating the world’s largest gold mining business with operations in the Americas, Africa and Australia. Newmont Goldcorp will continue trading on the NYSE with the ticker ‘NEM’ and will begin trading on the TSX... 

Five-month gold strike is over 

By: Martin Creamer     17th April 2019 The five-month strike by the Association of Mineworkers and Construction Union (AMCU) at Sibanye-Stillwater’s South African gold operations is over. Parties have acknowledged that it is in their interest to rebase and develop a constructive relationship going forward, Sibanye-Stillwater said in a... 

Eager black investors fund premium-priced opportunity in zinc, copper 

By: Martin Creamer     17th April 2019 Black investors have self-funded the purchase of shares at a premium price in the fast-tracked redevelopment of the Prieska zinc and copper mine in the Northern Cape, which has a three-year payback and a minimum mine life of ten years. The $8-million equity capital raising by Orion Minerals,... 

Eager black investors fund premium-priced opportunity in zinc, copper
Photo by Creamer Media Chief Photographer Dylan Slater
Orion Minerals’ ‘meet-the-media’ attendees were from left: Jowell Tobias, Godfrey Gomwe, Billy Mawasha, Michelle Jenkins, Errol Smart, Nelson Mosiapoa, Tom Borman, Sharon Matthews and Roger Matthews.

Royal Bafokeng boosts production despite setbacks 

By: Martin Creamer     17th April 2019 Black-owned platinum group metals mining company Royal Bafokeng Platinum boosted its production in the three months to March 31, in spite of several setbacks in the period. Tonnes delivered to concentrators increased by 17.3% to 862 000 t and tonnes milled increasing by 11.6% to 846 000 t.... 

Nevada Copper details plans for Pumpkin Hollow openpit

By: Mariaan Webb     17th April 2019 TSX-listed Nevada Copper has announced the outcomes of a newly completed prefeasibility study (PFS) for a standalone openpit mine at its Pumpkin Hollow project, where it is currently constructing an underground mine. The PFS considers developing the openpit independently from the underground... 

Nevada Copper details plans for Pumpkin Hollow openpit
The Pumpkin Hollow site (December 2018)

Uranium imports aren't a threat, Obama's energy chief says

By: Bloomberg     17th April 2019 A former US energy secretary dismissed the idea that an influx of foreign uranium imports is a threat to national security, rejecting what could be a justification for future import quotas to protect domestic suppliers. “I have never considered uranium to be a major security issue,” Ernest... 

Uranium imports aren't a threat, Obama's energy chief says

Judge revokes water-use permit for Hecla’s Montana project

By: Mariaan Webb     17th April 2019 A judge in the US state of Montana has reversed the award of a water-use permit for Idaho-based Hecla Mining subsidiary, RC Resources’ Rock Creek silver/copper mine. Montana District Court Judge Kathy Seeley sided with plaintiffs who argued that their concerns regarding the impact that the... 

Galane resurrects Galaxy mine

By: Creamer Media Reporter      17th April 2019 TSX-V-listed Galane Gold has produced its first concentrate at the Galaxy mine, in South Africa’s Mpumalanga province, as commissioning of the 15-million-tonne-a-year refurbished plant got under way. The plant was expected to reach full capacity from May onwards, the company reported on... 

Kibali to break more records this year – Bristow

By: Nadine James     17th April 2019 The Kibali gold mine – ranked among the world’s top ten gold mines – has “made a strong start” to this year after having set a new production record in 2018, Barrick Gold president and CEO Mark Bristow says. Bristow says the mine, which is a joint venture with AngloGold Ashanti and Democratic... 

Kibali to break more records this year – Bristow
Photo by Bloomberg
Barrick Gold president and CEO Mark Bristow

Kinross culls two senior positions from management team

By: Creamer Media Reporter      17th April 2019 Senior gold miner Kinross Gold on Tuesday announced that two senior members of its leadership team would leave the company by mutual agreement, as part of a cost management and efficiency improvement drive. Senior VP and COO Lauren Roberts and senior VP for human resources Gina Jardine would... 

BHP downgrades iron-ore outlook

By: Esmarie Iannucci     17th April 2019 Mining major BHP has revised its full year iron-ore production expectations on the back of Tropical Cyclone Veronica, telling shareholders on Wednesday that iron-ore production for the full year is now expected to be between 235-million and 239-million tonnes. This new guidance compared with... 

BHP downgrades iron-ore outlook

Gold output to reach record high this year – report 

By: Nadine James     16th April 2019 Gold production increased for the tenth consecutive year in 2018 to 107.3-million ounces and is expected to reach a new record high of 109.6-million ounces this year, S&P Global Market Intelligence research analyst Christopher Galbraith said on Tuesday.   He noted that while the year-on-year... 

Gold output to reach record high this year – report

OceanaGold to earn into Nevada gold project

By: Creamer Media Reporter      16th April 2019 Australia-based midtier miner OceanaGold has struck an earn-in deal in Nevada, in the US, with American Pacific Mining (APM), in terms of which it could hold a controlling interest in the Tuscarora project. OceanaGold will earn a 51% stake by spending $4-million over the next four years, and will... 

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