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North America News

Iron-ore euphoria of today arising out of iron-ore despair of yesteryear offers crucial policy lesson, says mining analyst in a ‘Postcard to the President’ 

By: Martin Creamer     12th May 2021 If you bought R100 000 worth of shares in Kumba Iron Ore at the start of 2016, you would now be sitting on shares worth a staggering R2.67-million, excluding dividends. This is because Kumba’s all-time low share price of R25.35 in January 2016 has skyrocketed 2 647% to R696.45, reflecting the... 

Spanish Mountain publishes PFS results

By: Creamer Media Reporter      12th May 2021 Vancouver-headquartered Spanish Mountain has announced the results of its prefeasibility study (PFS) for its namesake project, in British Columbia, affirming its potential to be a gold mine with robust production and profitability. The Spanish Mountain mine will yield 2.1-million ounces of gold... 

Hudbay reaffirms 2021 guidance as Pampacancha production resumes

By: Mariaan Webb     12th May 2021 Copper and gold producer Hudbay Minerals has reaffirmed its production and operating cost guidance for the year, as its Pampacancha mine, in Peru, resumed production last month after finalising a new land user agreement. The miner plans to produce between 92 000 t and 112 000 t of copper and... 

Hudbay reaffirms 2021 guidance as Pampacancha production resumes

Ivanhoe included in the MSCI Canada Index

By: Creamer Media Reporter      12th May 2021 Africa-focused Ivanhoe Mines would be added to the MSCI Canada Index, effective May 27. The MSCI Canada Index is designed to measure the performance of the large and mid-cap segments of the Canadian market. 

Kinross on track to meet guidance, announces net-zero commitment

By: Mariaan Webb     12th May 2021 Gold miner Kinross produced 558 777 gold-equivalent ounces (GEOs) in the first quarter ended March and said on Tuesday that it was on track to meet its guidance of 2.4-million GEO for the year. First quarter production was lower than the 567 327 GEO produced in the same quarter of 2020. All-in... 

Kinross on track to meet guidance, announces net-zero commitment

Iron-ore’s ‘ridiculous’ prices to stay as fear grips commodities

By: Bloomberg     12th May 2021 Iron-ore’s stunning surge won’t fade anytime soon because buyers remain nervous about being caught short as global demand accelerates amid lingering supply threats, according to a veteran commodities trader. The steelmaking material forged new all-time highs this week, soaring past $220 a ton... 

Iron-ore’s ‘ridiculous’ prices to stay as fear grips commodities

Too cold to handle? Race is on to pioneer shipping of hydrogen

By: Reuters     12th May 2021 Hydrogen is touted as an inevitable green fuel of the future. Tell that to the people who'll have to ship it across the globe at hyper-cold temperatures close to those in outer space. Yet that is exactly what designers are attempting to do. 

American Lithium completes Plateau acquisition

By: Mariaan Webb     12th May 2021 The merger of American Lithium and Plateau Energy Metals has been completed, creating an Americas-focused developer of energy metals at a time when securing a sustainable supply of critical minerals is a global priority. The merger combined two large lithium development projects – TLC, in... 

Battle North sale approved by shareholders

By: Esmarie Iannucci     12th May 2021 The shareholders of TSX-listed Battle North Gold Corporation have voted in favour of a takeover offer from ASX-listed gold miner Evolution Mining. Evolution in March launched a C$343-million deal to acquire Battle North Gold Corporation, to gain ownership of the Bateman gold project in the Red... 

Renewable energy projects under investigation across AngloGold   

By: Martin Creamer     11th May 2021 Renewable energy projects are under investigation across the entire AngloGold Ashanti group, AngloGold Ashanti VP: environment Tony Da Cruz told Mining Weekly on Tuesday. Da Cruz reported that the gold mining company is also working with industry peers and vehicle original-equipment manufacturers... 

Renewable energy projects under investigation across AngloGold
AngloGold Ashanti presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

NextSource starts procuring equipment for Madagascar graphite mine

By: Creamer Media Reporter      11th May 2021 Toronto-listed NextSource has started procurement of processing plant equipment for its Molo graphite mine, in Madagascar, ahead of expected mine construction starting in August. Purchase orders have been placed for primary, flash flotation and attrition mills, flotation columns and cleaning... 

Gold holds near three-month high as inflation, Fed in focus

By: Bloomberg     11th May 2021 Gold held near the highest level in three months as investors weighed growing inflation risks and comments from Federal Reserve officials on the labor market for clues on monetary policy going forward. Bond market expectations for the pace of consumer price inflation over the coming half decade... 

Gold holds near three-month high as inflation, Fed in focus

Gerald Group resolves iron-ore dispute with Sierra Leone

By: Reuters     11th May 2021 US commodity trader Gerald Group will pay Sierra Leone $20-million and cede a 10% stake in an iron-ore project as part of the resolution to a nearly two-year dispute that led to the shutdown of production, the company said. Gerald's wholly owned subsidiary SL Mining filed for arbitration in... 

Big jump in earnings margin generates strong cash ­for Harmony Gold 

By: Martin Creamer     11th May 2021 Gold mining company Harmony Gold has delivered another strong set of operational results year-on-year on the back of the integration of AngloGold Ashanti assets into its portfolio and a stronger rand per kilogram gold price. The combination of a higher gold price received and improved earnings... 

Big jump in earnings margin generates strong cash ­for Harmony Gold
Harmony Gold CEO Peter Steenkamp

Serabi to fire two Brazil-based senior managers in financial probe

By: Creamer Media Reporter      11th May 2021 London- and Toronto-listed Serabi Gold on Tuesday announced that it would terminate the employment contracts of two of its Brazil-based senior managers, after it had uncovered unsubstantiated cash withdraws amounting to $200 000. The company previously advised that audit work in Brazil had... 

Frontier announces passing of board member John Kelly

By: Creamer Media Reporter      11th May 2021 TSX-V-listed Frontier Lithium on Monday announced the passing of long-time board member John Kelly. Kelly served as a board member since 2000 and chairperson Rick Walker said Frontier was “indebted to John for his leadership, dedication, and significant contributions” during his tenure. 

Triple Flag aims to raise $250m in IPO

By: Mariaan Webb     11th May 2021 Gold-focused streaming and royalty firm Triple Flag, which a former Barrick CFO Shaun Usmar found in 2016, has announced that it plans to raise $250-million in an initial public offering (IPO). The offering contemplates a treasury offering priced at between $11.50 and $14.50, the proceeds of... 

Triple Flag aims to raise $250m in IPO
Triple Flag CEO Shaun Usmar

Artemis Gold to raise up to C$156m for Blackwater

By: Creamer Media Reporter      10th May 2021 Toronto-listed Artemis Gold on Monday announced that it would raise up to C$156-million to make its final cash payment for the Blackwater gold project, which it bought from New Gold, and to fund permitting and development costs. Artemis entered into an agreement with a syndicate of underwriters,... 

Investors bet billions that the metals bull run isn’t stopping

By: Bloomberg     10th May 2021 A year into the red-hot bull run in industrial metals that’s lifted copper to record highs, investors are still piling in, staking billions of dollars that it won’t run out of steam any time soon. The word from Wall St. is “don’t stop buying now", with Goldman Sachs Group and Bank of America... 

Investors bet billions that the metals bull run isn’t stopping

Low carbon world needs $1.7-trillion in mining investment

By: Reuters     10th May 2021 Mining companies need to invest nearly $1.7-trillion in the next 15 years to help supply enough copper, cobalt, nickel and other metals needed for the shift to a low carbon world, according to consultancy Wood Mackenzie. The United States, Britain, Japan, Canada and others raised their targets... 

Low carbon world needs $1.7-trillion in mining investment

Weekly Coal Index Report

10th May 2021 As the coal market rallies once more, Anglo Coal’s “Thungela” is about to see the light of day. It will no doubt act as a proxy for a pure-play tier one South African coal producer. Will shareholders abandon it as a dirty, unloved orphan, preferring the bright lights and promise of clean energy?... 

Weekly Coal Index Report

Release by AngloGold of vast exploration information attracting interest 

By: Martin Creamer     10th May 2021 The release by departing AngloGold Ashanti of its vast exploration information is attracting interest, AngloGold executive VP of group planning and technical Graham Ehm said on Monday. Contained online is an exploration database involving the historic Witwatersrand Gold Basin and other goldfields... 

Release by AngloGold of vast exploration information attracting interest
Photo by Creamer Media
AngloGold executive VP of group planning and technical Graham Ehm

New report identifies global mining sector's carbon reduction opportunities

By: Tasneem Bulbulia     10th May 2021 The global mining industry must move away from legacy systems and processes if it is to meet the challenge of decarbonisation. This is according to a new report, ommissioned by engineering company Weir Group, which calculates mining’s share of global energy consumption and identifies ways the... 

Cameco Q1 results in line with expectations

By: Creamer Media Reporter      10th May 2021 Canadian uranium miner Cameco on Friday reported first-quarter results that were in line with its expectations, reporting an adjusted loss of $29-million, or $0.07 a share, for the three months ended March 31. The adjusted loss compares with adjusted earnings of $29-million in the same quarter... 

Cameco Q1 results in line with expectations

Copper smashed past a record - here's what you need to know

By: Bloomberg     10th May 2021 Copper soared last week to an all-time high, continuing a sizzling rally that’s seen prices double in the past year. The previous copper record was set in 2011, around the peak of the commodities supercycle sparked by China’s rise to economic heavyweight status — fueled by massive amounts of raw... 

Copper smashed past a record - here's what you need to know

ABR defers phased approach for Fort Cady

By: Esmarie Iannucci     10th May 2021 ASX-listed American Pacific Borates (ABR) has announced plans to defer Phase 1A of its Fort Cady borate mine, in Southern California. The starter project had initially targeted a production rate of 40 000 t/y sulphate of potash (SoP) and 9 000 t/y of boric acid, increasing to 90 000 t/y SoP and... 

ABR defers phased approach for Fort Cady

AngloGold Q1 earnings rise to $203m despite lower production, higher costs

By: Martin Creamer     10th May 2021 Gold mining company AngloGold Ashanti reported first quarter headline earnings of $203-million, driven by the higher gold price. Q1 production of 2021 of 588 000 oz was down on the 630 000 oz for the same period last year and total cash cost of $999/oz was well up on the $773/oz from continuing... 

AngloGold Q1 earnings rise to $203m despite lower production, higher costs
Photo by Creamer Media
AngloGold Ashanti interim CEO Christine Ramon

Kyrgyzstan court fines Centerra Gold mining venture $3.1bn

By: Reuters     10th May 2021 A court in Kyrgyzstan on Saturday imposed a $3.1-billion fine on Kumtor Gold Company, which operates the nation's biggest gold mine, after ruling that the Canadian-owned firm had violated environmental laws. The district court decision came just a day after Kyrgyzstan's parliament passed a law... 

Kyrgyzstan court fines Centerra Gold mining venture $3.1bn

Weaning US of Chinese rare earths involves supply-chain perks

By: Bloomberg     10th May 2021 The only US producer of rare earths says the Biden administration needs to focus on giving incentives to producers of the building blocks that will drive electrification. Biden’s gargantuan $2.25-trillion infrastructure plan currently targets about $15-billion to build a network of... 

Weaning US of Chinese rare earths involves supply-chain perks
MP Minerals operates the Mountain Pass mine, in the US.

Can Canada's oil-rich Alberta capture a low-carbon future?

By: Bloomberg     7th May 2021 At a research site in rural Alberta, carbon dioxide is injected deep into the ground. Using remote sensors, scientists monitor its movement to ensure the planet-heating gas does not migrate upwards. "Basically, think of ultrasound on bodies – we're doing ultrasound on the earth," said Don... 

Can Canada's oil-rich Alberta capture a low-carbon future?

Gold Fields going greener and cleaner across broad front 

By: Martin Creamer     7th May 2021 Gold mining company Gold Fields, which this week announced the board’s green light for a 40 MW solar photovoltaic plant at the South Deep mine, near Carletonville, intends taking short- medium- and long-term steps to lower emissions in underground mining in general and at South Deep in... 

Gold Fields going greener and cleaner across broad front
Photo by Creamer Media
Gold Fields' South Deep gold mine, near Carletonville

Lithium prices to normalise, as demand increases – Fitch Solutions

By: Simone Liedtke     7th May 2021 Following the spike in Chinese spot prices experienced from the end of December 2020 through to the end of January, research agency Fitch Solutions Country Risk and Industry Research expects broad lithium prices to soon normalise. Chinese spot prices for battery-grade lithium carbonate and... 

New Kyrgyz law allows for control of Kumtor

By: Mariaan Webb     7th May 2021 The Kyrgyzstan Parliament has passed a law that will enable the government to impose “external management” on the Kumtor Gold Company (KGC), owner Centerra Gold said on Friday, while also revealing that the mine faced a $3-billion civil claim and that it owed $170-million in additional taxes.... 

Artisanal and small-scale mining workforce has tripled from 2001

By: Donna Slater     7th May 2021 Mineworkers in the artisanal and small-scale mining (ASM) industry make up the world’s largest mining workforce, with the number of such workers more than tripling from 13-million estimate of 2001 by the International Labour Organisation, reveals the yearly report on the state of the ASM industry... 

Copper jumps to record as growth bets supercharge commodities

By: Bloomberg     7th May 2021 Copper soared to an all-time high as optimism about a global rebound from the pandemic spurs a surge across commodities markets. The metal -- an economic bellwether -- is front and center in a rally that’s driven raw materials from lumber to iron ore to multiyear highs or records. Stimulus... 

Copper jumps to record as growth bets supercharge commodities

McMullen and Benson join OceanaGold board

By: Creamer Media Reporter      7th May 2021 Gold mining company OceanaGold has announced the appointment of Mick McMullen and Paul Benson to its board of directors. McMullen, a geologist with nearly 30 years of experience, is the former CEO of Detour Gold and prior to that, he was president and CEO of Stillwater Mining. 

Glasenberg says $15 000 copper needed to drive new supply

By: Bloomberg     7th May 2021 Copper will need to rise 50% further from its current near record high to encourage enough new mined supply to meet rampant demand, according to Ivan Glasenberg, the billionaire chief executive officer of Glencore. Copper topped $10 000 a metric ton last week for the first time in a decade and... 

Glasenberg says $15 000 copper needed to drive new supply
Glencore CEO Ivan Glasenberg

AngloGold extends $20m loan to Corvus for Nevada projects

By: Mariaan Webb     7th May 2021 North American gold explorer and developer Corvus Gold has secured a $20-million loan from its 19.9%-shareholder AngloGold Ashanti to fund work at its projects in Nevada. The money will be used for ongoing permitting and predevelopment work at the North Bullfrog project, as well as exploration... 

AngloGold extends $20m loan to Corvus for Nevada projects
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