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North America News
Austral reports robbery in Chile
By: Esmarie Iannucci Updated 37 minutes ago ASX- and TSX-V listed Austral Gold on Friday reported an armed robbery at its Guanaco-Amancaya mine complex, in Chile. The company told shareholders that a group of armed robbers assaulted the Guanaco-Amancaya mine complex and stole gold precipitate material equivalent to approximately 500 oz of... →
Copper rises to 6-week high on US rate hike optimism
By: Reuters 11th August 2022 Copper prices hit a six-week high on Thursday as bets the US Federal Reserve will ease the pace of interest rate rises pushed up riskier assets and weakened the dollar, making dollar-priced metals cheaper for buyers with other currencies. US data on Wednesday suggested inflation may be peaking,... →
Asante now a multi-asset company as Chirano sale closes
By: Mariaan Webb 11th August 2022 Vancouver-headquartered Asante Gold has transitioned into a multi-asset company with the closing of the Chirano mine, in Ghana. The company bought Chirano from fellow Kinross Gold for $225-million in cash and shares. →
Updated PureGold resource reported
By: Creamer Media Reporter 11th August 2022 TSX-V and LSE-listed Pure Gold Mining has updated the mineral resource estimate for its namesake mine near Red Lake, Ontario. PureGold has a resource of 1.65-million ounces at 7.4 g/t within 6.9-million tonnes in the indicated mineral resource category and 0.37-million ounces at 6.3 g/t in... →
Lucara starts shaft sinking at Botswana expansion project
By: Mariaan Webb 11th August 2022 Canada-based miner Lucara has started sinking the main shaft at its Karowe diamond mine expansion project, in Botswana, although it says that the transition from pre-sinking has taken longer than planned. The TSX- and LSE-listed miner says that it has identified opportunities to decrease the... →
Caledonia achieves strong second quarter, half-year performance
By: Tasneem Bulbulia 11th August 2022 Gold miner Caledonia Mining achieved a “terrific” quarter and six months ended June 30, with second quarter production of just over 20 000 oz, which set a record for any quarter, CEO Mark Learmonth acclaims in an operating and financial results update. Caledonia produced 20 091 oz of gold in the... →
Centerra Gold shares fall on Öksüt woes, production outlook slashed
By: Mariaan Webb 11th August 2022 Toronto-listed Centerra Gold’s share price tumbled nearly 22% on Wednesday, as the company lowered its 2022 production outlook following the suspension of certain operations at the Öksüt mine, in Turkey. Gold room operations at ADR plant at Öksüt have been suspended since early March, owing to... →
Environmental, social and governance elevating to safety-equalling status, mining webinar hears 
By: Martin Creamer 11th August 2022 The shift from linear to circular value chains has the potential to impact all aspects of mining and requires a rethink, Anglo American Platinum sustainable impact head Stephen Bullock has told a Southern African Institute of Mining and Metallurgy (SAIMM) webinar. In a presentation on the... →
BHP hoping to harness the wind
By: Esmarie Iannucci 11th August 2022 Diversified miner BHP has announced a partnership to undertake a technical assessment of wind-assisted propulsion to lower its greenhouse gas (GHG) emissions. The miner has partnered with Pan Pacific Copper (PPC), a member of JX Nippon Mining & Metals group, and auxiliary wind propulsion systems... →
Molo’s processing plant arrives in Madagascar
By: Creamer Media Reporter 10th August 2022 The processing plant for the Molo graphite mine has arrived in Madagascar, cleared customs and the modules, including two mobile cranes, are now on route to the mine site, Toronto-listed NextSource Materials reports. The company says earthworks at the mine site are complete and civil works are... →
Gold bounces above $1 800 after US inflation data
By: Reuters 10th August 2022 Gold prices charged higher and broke above the key $1,800 level on Wednesday after relatively tame US inflation readings prompted bets that the Federal Reserve may not opt for aggressive rate hikes. Spot gold rose 0.6% to $1 804.20 per ounce by 1249 GMT (8:49 ET). US gold futures jumped 0.6% to... →
Endeavour Silver outperforms mine plans
By: Mariaan Webb 10th August 2022 Dual-listed Endeavour Silver has raised its 2022 guidance, as the miner continues to outperform its mine plans, delivering an “exceptional” second-quarter production performance that was 15% above plan. The company increased its production outlook to between 7.6-million and 8-million... →
Royal Bafokeng looking to R1.6bn off-balance-sheet spend on 98 MW solar plant
By: Martin Creamer 10th August 2022 Platinum group metals (PGMs) mining company Royal Bafokeng Platinum (RBPlat) is looking to off-balance-sheet capital expenditure of R1.6-billion for a 98 MW solar power plant. The photovoltaic (PV) plant will further buffer RBPlat and the region from load-shedding into the future should it prove... →
Hudbay reaffirms guidance despite inflation
By: Creamer Media Reporter 10th August 2022 Toronto-listed Hudbay Minerals has reaffirmed its 2022 production and operating cost guidance, as its second-quarter output was in line with expectations and the company achieved strong operating cost performance despite inflationary pressures from higher input prices for many services and... →
Bidding war for Canadian uranium explorer UEX hots up
By: Mariaan Webb 10th August 2022 The bidding war for that has erupted for Canadian uranium exploration junior UEX is heating up, with Denison Mines improving its offer, leaving fellow-suitor Uranium Energy Company (UEC) disappointed with UEX delaying its shareholder vote. UEX shareholders would have voted on UEC’s bid on... →
Lundin Gold upgrades guidance
By: Creamer Media Reporter 10th August 2022 Ecuador-focused Lundin Gold has increased its production guidance and decreased its cost guidance for 2022, following continuing strong operating results in the first half of the year. The Vancouver-headquartered miner now expects to produce between 430 000 oz and 460 000 oz, from a previous... →
Goldman analyst calls out ‘deeply disappointing’ energy bets
By: Bloomberg 10th August 2022 The ESG industry has focused “too heavily” on blacklisting all fossil fuels, exacerbating an energy crisis that can’t be addressed without embracing natural gas, according to an analysis by a senior researcher at Goldman Sachs Group. Michele Della Vigna, the head of Natural Resources research... →
LNG traders absorb huge losses after supply outages
By: Reuters 10th August 2022 Major energy traders are taking hundreds of millions of dollars in losses as they scramble to plug a liquefied natural gas (LNG) supply gap after several outages hampered efforts to fill European storage ahead of the winter heating season. Unplanned disruptions at LNG plants in the US, Nigeria... →
St Barbara sets targets for 2023
By: Esmarie Iannucci 10th August 2022 Gold miner St Barbara on Wednesday set a production guidance of between 280 000 oz and 315 000 oz for the 2023, and an all-in sustaining cost guidance of between A$2 050/oz and A$2 150/oz, after securing final approvals for a A$6-million extension to its the Touquoy operations, in Canada. The... →
Barrick’s Mali trebling solar as renewables stave off high energy prices at Kibali
By: Martin Creamer 9th August 2022 The African regions are continuing to excel on all fronts for Barrick, the large gold/copper miner that is benefitting from a stand-out performance in Tanzania and finding exploration in Mali and Senegal “a gift that keeps giving”, and which is being received with open arms in Pakistan. Under the... →
Chile to 'sanction' those responsible for sinkhole near copper mine
By: Reuters 9th August 2022 Chile will seek to apply harsh sanctions on those responsible for a huge sinkhole near a copper mine in the country's north, the mining minister said on Monday. The mysterious hole of 36.5 m in diameter that emerged in late July has provoked the mobilization of local authorities and led the... →
Nutrien names Ken Seitz as CEO of the Canadian potash fertilizer producer
By: Bloomberg 9th August 2022 Canada's Nutrien, the world's largest potash fertilizer producer, named Ken Seitz as CEO on Monday, removing the interim tag. Nutrien in January surprised investors by replacing its CEO for the second time in eight months. It then named Seitz, the head of its potash business, as interim CEO,... →
Barrick expects deal opportunities in copper, but won’t pay premiums
By: Bloomberg 9th August 2022 Barrick Gold boss Mark Bristow expects deal-making opportunities to arise in copper amid a dearth of attractive new deposits, although for now it’s difficult to find value. BHP Group has returned to major dealmaking in a hunt for metals vital to the shift to electric transport and clean energy.... →
Worst-performing precious metal silver may have seen bottom
By: Bloomberg 9th August 2022 Silver’s been the worst-performer among major precious metals in 2022, but prices may have fallen far enough to spark a modest recovery. The white metal has lost about 11%, weighed down by the stronger US dollar, rising interest rates and slowing growth. But prices could turn higher from later... →
Lithium projects in Africa increasing, but Americas will still dominate – Fitch Solutions
By: Tasneem Bulbulia 8th August 2022 Fitch Solutions Country Risk and Industry Research expects to see an increase in lithium development projects in Africa, particularly from Chinese firms, with investment buoyed by expectations for lithium to resist the downwards trend of most nonferrous metals in the second half of the year amid... →
Barrick takes lead in holistic ESG integration amid ‘greenwashing’ scepticism
By: Martin Creamer 8th August 2022 Gold and copper mining company Barrick has taken the lead in integrating the various aspects of environmental, social and governance (ESG) to ensure holistic and objective measurement, Barrick CEO Dr Mark Bristow stated on Monday, when the New York- and Toronto-listed company reported strong... →
Energy Fuels makes management changes
By: Mariaan Webb 8th August 2022 To bolster its management team during its current growth phase and expansion into the rare-earth element (REE) industry, Energy Fuels has hired a new COO and CFO. The US-based company appointed John Uhrie as COO and Tom Brock as CFO with effect from August 2 and August 8, respectively. →
Energy Fuels announces long-term contracts, offers uranium to new US reserve
By: Mariaan Webb 8th August 2022 US-based Energy Fuels has executed three long-term contracts with US nuclear utilities, committing to deliver up to 4.2-million pounds between 2023 and 2030, CEO Mark Chalmers announced on Friday. The company would fulfil deliveries during the early years of these contracts from its existing... →
Acquisition to bolster Clear Sky’s lithium potential in Nevada
By: Simone Liedtke 8th August 2022 Mineral exploration and development company Clear Sky Lithium has entered into a property option agreement with miner Halo Lithium, pursuant to which it has been granted the right to acquire the Halo project, in Nevada. The acquisition of the project, which comprises 98 mineral claims, will... →
Gold Resources provides Michigan enviro dept with an update on Back Forty improvements
By: Tasneem Bulbulia 8th August 2022 NYSE-listed gold and silver miner Gold Resources said in a statement on August 5 that it had been invited by the Michigan’s Department of Environment, Great Lakes and Energy (EGLE) to participate in a scoping environmental-impact assessment (SEIA) Meeting on the day. The company said it was given... →
Imperial Metals seeks to raise $45m to bridge Mount Polley restart revenue shortfall
By: Creamer Media Reporter 8th August 2022 Vancouver-headquartered Imperial Metals Corporation is seeking to secure additional funds for restart activities at its Mount Polley copper and gold mine by way of a nonbrokered private placement of $45-million in convertible debentures. The company notes that the mine is operating at targeted... →
President’s new energy plan opens way for Glencore Alloys to target bigger projects
By: Martin Creamer 8th August 2022 Glencore Alloys head Japie Fullard has hailed the new energy plan announced by President Cyril Ramaphosa as opening the way for the company to target bigger power projects. “I must say that the President’s energy presentation is definitely something that is appealing to us,” said Fullard, who... →
Indonesia says Tesla strikes $5bn deal to buy nickel products – media
By: Reuters 8th August 2022 US carmaker Tesla has signed contracts worth about $5-billion to buy materials for their batteries from nickel processing companies in Indonesia, a senior cabinet minister told CNBC Indonesia. Southeast Asia's biggest economy has been trying to get Tesla to set up a production facility in the... →
Nothing adds more value than improving operational performance – AngloGold
By: Martin Creamer 5th August 2022 Gold mining company AngloGold Ashanti is firmly focused on operation performance and the recovery of cost competitiveness as it implements its full asset potential review programme, on which it will report at three-monthly intervals. This was made clear by AngloGold Ashanti CEO Alberto Calderon... →
Gold heads for third weekly gain on rising demand for havens
By: Reuters 5th August 2022 Gold traded near a one-month high -- after jumping the most since March on Thursday -- as US-China tensions and a deepening global slowdown buoyed demand for haven assets. Bullion surged 1.5% on Thursday and is heading for a run of three straight weekly gains after China likely fired missiles... →
Implats’ earnings to decline on lower sales revenue, inflationary pressures
By: Donna Slater 5th August 2022 Platinum group metals (PGMs) miner Impala Platinum (Implats) expects its basic earnings for the financial year ended June 30 to decrease by between 29% and 35% year-on-year, to between R30.5-billion and R33.5-billion, while its earnings a share for the period are expected to decrease by between... →
AngloGold declares $121m first-half dividend on strong cash flow, higher production
By: Martin Creamer 5th August 2022 Gold mining company AngloGold Ashanti on Friday declared an interim dividend of $121-million on 3% higher year-on-year production and a strong cash-flow improvement. First-half production for the first six months of 2022 was 1.233-million ounces, with second-quarter output up 10% on strong... →
Lithium miner ioneer finds workaround for wildflower that’s stalling US project
By: Bloomberg 5th August 2022 A lithium supplier for Ford Motor and Toyota Motor expects to clear an environmental hurdle involving a rare flower next year, paving the way for deliveries to electric-vehicle makers ahead of looming shortages of the battery metal. ioneer seeks to build its Rhyolite Ridge lithium-boron project... →
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