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North America News

McEwen appoints new Nevada GM, declares commercial production at Gold Bar

By: Creamer Media Reporter      Updated 6 hours ago NYSE- and TSX-listed McEwen Mining has reached commercial production at its Gold Bar mine, which is under the supervision of its new Nevada general manager (GM), Jack Henris. Henris joined McEwen from Goldcorp, where he was VP of mining and geotechnical. His appointment is aimed at driving... 

Use remote machinery to mine at depth ­– Jourdan 

By: Martin Creamer     23rd May 2019 Independent consultant Dr Paul Jourdan on Thursday urged South Africa to cease sending people down dangerous deep-level mines and to come up with remote machinery to mine at depth. He was speaking at the Southern African Mining Supply Chain Conference and Strategy Workshop , which was hosted by... 

Use remote machinery to mine at depth ­– Jourdan
Photo by Creamer Media
Dr Paul Jourdan at the SA Mining Supply Chain Conference.

India to surpass China as largest importer of coking coal by 2025

By: Marleny Arnoldi     23rd May 2019 Fitch Solutions maintains its forecast for an average coking coal price of $195/t for this year, stating that prices will remain elevated, with strong demand from China’s steel sector, as US–China relations continue to deteriorate and the probability rises of further economic support from the... 

India to surpass China as largest importer of coking coal by 2025

C$3.5m project supports Newmont Goldcorp’s 4.0 vision in Quebec

By: Creamer Media Reporter      23rd May 2019 Gold major Newmont Goldcorp’s vision to create Quebec’s first interconnected “mine of the future” received a boost on Wednesday, when a C$3.5-million project to connect the Eleonore mine to a high-speed network was unveiled. The project, which is to be delivered by non-profit organisation Eeyou... 

Barrick's buyout offer for Acacia unit irks minority shareholders

By: Reuters     23rd May 2019 Barrick Gold's proposal to take full control of its Acacia Mining Plc unit to resolve a long-standing tax dispute with Tanzania has drawn the ire of Acacia's minority shareholders, who may have the ultimate vote on a deal. Barrick's offer values Acacia at $787-million, a near 11% discount to its... 

Barrick's buyout offer for Acacia unit irks minority shareholders

Gold miners must focus on returns, mergers to attract investment - Barrick CEO

By: Reuters     22nd May 2019 Gold miners must focus on maximising returns and more mergers to attract investors seeking to diversify after years of under-investing in mines, Barrick Gold's chief executive said on Wednesday. "The industry is in decline and we have put ourselves in a very a tight spot because we haven't... 

Gold miners must focus on returns, mergers to attract investment  - Barrick CEO
Barrick Gold CEO Mark Bristow

Mining fatalities among ICMM member companies decrease again

By: Marleny Arnoldi     22nd May 2019 International Council on Mining and Metals (ICMM) member companies recorded 50 fatalities in 2018, compared with the 51 recorded in 2017 and the 63 recorded in 2016. Eleven of ICMM’s 27 member companies reported no fatalities in 2018, compared with eight in 2017. These companies were Africa... 

Mining fatalities among ICMM member companies decrease again

Equinox Gold sells Elk Gold property

By: Creamer Media Reporter      22nd May 2019 TSX-V-listed Equinox Gold has sold its Elk Gold property, in British Columbia, to private explorer Bayshore Minerals for $10-million. The company will receive $1-milion in cash on closing of the sale and $9-million in a first ranking secured promissory note payable in yearly installments of... 

Young consumers, self-buying to boost platinum jewellery demand

By: Tasneem Bulbulia     22nd May 2019 Young consumers, men’s jewellery and female self-purchasing will build on platinum’s entrenched standing in bridal jewellery to drive future demand, Platinum Guild International (PGI) reports. The guild’s yearly ‘Platinum Jewellery Business Review’ surveys over 1 000 manufacturers and retailers,... 

Glencore and First Cobalt team up to restart refinery

By: Esmarie Iannucci     22nd May 2019 Diversified miner Glencore has thrown its support behind the restart of dual-listed First Cobalt’s refinery in Ontario. The two companies have signed a memorandum of understanding (MoU) to supply cobalt feedstock and financing to recommission the First Cobalt refinery, with First Cobalt and... 

BHP keen on more copper, nickel sulphide and oil

By: Esmarie Iannucci     22nd May 2019 Mining major BHP on Wednesday laid out its near-term plans for investors, saying that the company would look to add “options” in copper, nickel sulphides and oil. Speaking to investors, CFO Peter Beaven that BHP analysed a number of scenarios to ensure that the company’s portfolio was resilient... 

BHP keen on more copper, nickel sulphide and oil

Tethyan to redomicile from UK to Canada

By: Creamer Media Reporter      22nd May 2019 Serbia-focused Tethyan Resources has announced that it will redomicile the company from England and Wales to British Columbia, Canada, to avoid the UK stamp duty tax. The UK stamp duty tax – a tax of 0.5% payable to HM Revenue and Customs Stamp Office – is unfamiliar to many investors that... 

Sasol to accelerate $2bn asset disposal plan as capex on US project leaps by another $1.3bn 

By: Terence Creamer     22nd May 2019 Energy and chemicals group Sasol, which announced another large increase in the capital cost of its Lake Charles Chemicals Project (LCCP) being built in the US, will accelerate its $2-billion noncore asset disposal programme and will used the proceeds to deleverage its balance sheet. Joint... 

Sasol to accelerate $2bn asset disposal plan as capex on US project leaps by another $1.3bn
Photo by Creamer Media
Joint presidents and CEOs Bongani Nqwababa and Stephen Cornell

Hudbay is said to prepare sale of Arizona copper mine stake

By: Bloomberg     22nd May 2019 Hudbay Minerals is preparing a sale of a stake in one of the largest copper mines under development in the US as an investor pushes the company to review its portfolio, people familiar with the matter said. The Toronto-based base metals miner has interviewed potential advisers about selling a... 

Barrick bids for rest of Acacia as Tanzania refuses direct settlement  

By: Mariaan Webb     22nd May 2019 Toronto-headquartered Barrick Gold has presented a proposal to its London-listed subsidiary Acacia Mining to buy the rest of the shares in the miner that it does not already own for $285-million. The share-for-share exchange of 0.153 Barrick shares for each ordinary share of Acacia implies a... 

Barrick bids for rest of Acacia as Tanzania refuses direct settlement

Canadian miner Pure Gold starts trading on LSE

By: Mariaan Webb     21st May 2019 Canadian gold development company Pure Gold Mining on Tuesday made its debut on the LSE main market, in the UK, trading at 32.50p a share. The listing, which is alongside the company’s existing Toronto listing, will introduce Pure Gold to European and UK investors as it approaches the... 

Canadian miner Pure Gold starts trading on LSE
The Madsen mine, in Canada's Ontario.

Oil climbs as Opec signal on output curbs overshadows trade risk

By: Bloomberg     21st May 2019 Oil rose for a second day on signs Opec and its allies will extend production cuts beyond June, while a steadily deteriorating US-China trade relationship kept prices from pushing higher. Futures in New York extended their gains after closing up 0.5% on Monday. Saudi Energy Minister Khalid... 

De Beers records lower sales amid macroeconomic uncertainty

By: Creamer Media Reporter      21st May 2019 The value of De Beers’ rough diamond sales for the fourth cycle of this year fell year-on-year “against a backdrop of macroeconomic uncertainty”, CEO Bruce Cleaver said on Tuesday. Sales decreased to $415-million, compared with $554-million in the fourth sales cycle of 2018. 

SolGold announces PEA results for Alpala

By: Mariaan Webb     20th May 2019 LSE- and TSX-listed SolGold on Monday published the results of a preliminary economic assessment (PEA) for the Alpala copper/gold/silver deposit at the Cascabel project, in northern Ecuador. The study estimated a “low” start-up capital expenditure of $2.4-billion to $2.8-billion and a “high” net... 

SolGold announces PEA results for Alpala

Bacanora to bring in China’s Ganfeng as partner in Mexico lithium project

By: Simone Liedtke     20th May 2019 Aim-listed Bacanora Lithium has signed a non-binding heads of terms with China lithium producer Ganfeng for a strategic investment in both the company and its flagship Sonora lithium project, in Mexico. Completion of the strategic investment would form a major part of Bacanora’s finance package... 

Bacanora to bring in China’s Ganfeng as partner in Mexico lithium project

Researchers see manganese helping fuel cells down cost curve 

By: Martin Creamer     20th May 2019 A new manganese-containing material may contribute to platinum-using hydrogen fuel cells being driven down the cost curve. The new material, made from manganese hydride, is being earmarked for use in molecular sieves that work with the fuel cells in hydrogen fuelled systems that generate... 

Researchers see manganese helping fuel cells down cost curve
Hydrogen fuel cell cars use hydrogen and oxygen to generate electricity with the help of platinum.

Cobalt 27 completes Highlands Pacific acquisition

By: Creamer Media Reporter      20th May 2019 TSX-V-listed Cobalt 27 has completed the acquisition of Highlands Pacific, bolstering the company's prospects a growing diversified battery metals streaming and royalty company. As a result of the acquisition, Cobalt 27 now holds an 8.56% joint venture interest in the producing Ramu mine, a... 

Lynas plans rare earth plant in Texas

By: Esmarie Iannucci     20th May 2019 Rare earths miner Lynas has signed a memorandum of understanding (MoU) with US-based Blue Line to develop rare earth separation capacity in the US. Under an MoU, the two companies would exclusively work together on the proposed development of a rare earth separation facility at the Blue Line site... 

Venezuela sells $570m from gold reserve despite sanctions

By: Bloomberg     20th May 2019 Venezuela sold about $570-million in gold from central bank reserves over the past two weeks, skirting US Treasury sanctions designed to freeze assets of the Nicolas Maduro’s administration, according to people with knowledge of the matter. The central bank sold about 9.7 t of gold on May 10 and... 

Canada funds mining climate change adaptation project

By: Creamer Media Reporter      20th May 2019 The Canadian government has announced a C$325 000 investment in the Mining Association of Canada’s climate change adaptation project, which seeks to make mining operations resilient to a changing climate and extreme weather events. The project – Climate Change Risk and Adaptation Best Practices... 

Sibanye, Lonmin merger enters final stretch as AMCU appeal is dismissed 

By: Marleny Arnoldi     17th May 2019 The Competition Appeal Court of South Africa (CACSA) on Friday gave the green light for JSE- and NYSE-listed Sibanye-Stillwater’s proposed takeover of LSE- and JSE-listed Lonmin, dismissing an appeal filed by the Association of Mineworkers and Construction Union. CACSA upheld the Competition... 

Sibanye, Lonmin merger enters final stretch as AMCU appeal is dismissed
Photo by Creamer Media
Sibanye CEO Neal Froneman and Lonmin CEO Ben Magara

Denham to support Diamond Fields’ Madagascar zircon project

By: Creamer Media Reporter      17th May 2019 TSX-V-listed Diamond Fields Resources (DFR) on Thursday unveiled a cooperation agreement with private equity firm Denham Capital’s Denham Mining Fund, which also includes an option agreement that could see the junior being carried to production at the Beravina zircon project, in Madagascar.... 

Billionaire Friedland close to deal with BHP on Guinea iron-ore

By: Bloomberg     17th May 2019 Billionaire mining investor Robert Friedland is close to a deal to take over an iron-ore deposit in Guinea from owners including BHP Group, according to people familiar with the situation. Friedland is in advanced talks with BHP, Newmont Goldcorp and Areva, that will see him move to develop the... 

Iamgold said to explore sale amid gold sector consolidation

By: Bloomberg     17th May 2019 Canadian miner Iamgold is exploring a possible sale of all or part of the company amid a wave of consolidation in the gold sector, according to people familiar with the matter. The Toronto-based miner is working with advisers and has spoken to several potential buyers, said the people, who asked... 

Hexagon taps US as preferred location for graphite plant

By: Esmarie Iannucci     17th May 2019 A scoping study by ASX-listed Hexagon Resources has determined that the preferred location for a stand-alone graphite purification and processing plant (GPPP) to be Washington State, in the US. The scoping study considered sites in both the US and in Western Australia, with the US site winning... 

Metminco enacts Andes merger

By: Esmarie Iannucci     17th May 2019 ASX-listed Metminco has signed a binding bid implementation agreement with Colombia-focused Andes Resources to enact a merger agreement reached in March this year. Under the terms of the off-market agreement Metminco would issue 25 of its own shares for every Andes share held, with the merger to... 

St Barbara completes A$355m raising for Atlantic Gold buy

By: Esmarie Iannucci     17th May 2019 ASX-listed gold miner St Barbara has completed A$355-million institutional entitlement offer to partly fund the acquisition of Canada’s Atlantic Gold Corporation. The 1-for-3.1 pro rata accelerated non-renounceable entitlement offer, which was priced at A$2.89 a share, formed the first stage of... 

St Barbara completes A$355m raising for Atlantic Gold buy

Confidence and investment returning to British Columbia’s mining industry

By: Creamer Media Reporter      17th May 2019 The performance of British Columbia mining companies are mirroring the return of confidence to the global industry, with the mining sector of Canada’s westernmost province posting positive results for the second consecutive year. PricewaterhouseCooper (PwC) Canada’s ‘BC Mine’ report states that... 

Confidence and investment returning to British Columbia’s mining industry
Teck's Fording River operation in the Elk Valley of British Columbia.

Sibanye-Stillwater plans to resume dividend payments in 2020

By: Reuters     16th May 2019 Higher prices for industrial precious metals palladium and platinum have boosted earnings at Sibanye-Stillwater, enabling the miner to repay debt and plan to resume dividends next year, its chief executive Neal Froneman said. Sibanye, once the industry's highest dividend payer, last made a... 

Sibanye-Stillwater plans to resume dividend payments in 2020
Sibanye -Stillwater CEO Neal Froneman

Nemaska proceeding ‘one step at a time’

By: Mariaan Webb     16th May 2019 Lithium project developer Nemaska Lithium has made “good progress” during the past months on the construction at its Whabouchi mine and the detailed engineering at its Shawinigan plant, president and CEO Guy Bourassa reported on Thursday. The Quebec-focused junior, which had been forced to set a... 

Katanga’s first-quarter loss a share widens

By: Simone Liedtke     16th May 2019 Katanga Mining on Thursday announced that its basic and diluted loss a share had widened to $0.09 for the first quarter, ended March 31, from $0.04 in the first quarter of 2018. Adjusted earnings before interest, taxes, depreciation and amortisation increased to $41.8-million, from $16.3-million... 

$62m Zimbabwe smelter heeds local beneficiation call 

By: Martin Creamer     16th May 2019 The $62-million smelter at Unki Mine’s existing complex is a strategic investment, which meets local beneficiation commitments, Anglo American Platinum said on Thursday, when it opened the completed installation at a ceremony in Shurugwi, Zimbabwe. The smelter investment is indicative of the... 

$62m Zimbabwe smelter heeds local beneficiation call
Matte casting at the new smelter at Anglo American Platinum’s Unki Mine in Zimbabwe.

Newmont signs up for Tobruk exploration

By: Esmarie Iannucci     16th May 2019 The share price of ASX-listed Prodigy Gold increased by nearly 11% on Thursday on the announcement of an exploration farm-in and joint venture (JV) agreement with gold major Newmont. Under the terms of the agreement, Newmont would make a A$1.5-million non-refundable payment on the signing of the... 

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