R/€ = 16.95 Change: 0.10
R/$ = 16.35 Change: -0.02
Au 1803.76 $/oz Change: -5.10
Pt 873.50 $/oz Change: -12.50

North America News

Ascot slows down pace of Premier construction

By: Mariaan Webb     24th June 2022 Without new financing in place for the Premier gold project, Vancouver-based Ascot Resources on Thursday announced that it was slowing the pace of construction activities and that the first gold pour could potentially only be achieved in 2024. The update lopped 20% off the share price of Ascot,... 

Argonaut locks in financing for over-budget Magino project

By: Mariaan Webb     24th June 2022 The Magino gold mining project is in a strong position to move into production by the end of March next year, after developer Argonaut Gold secured $250-million in debt and announced a C$195-million equity raise complete the project. The cost to complete the project has risen by another... 

A photo of the Magino construction site.
A May 2022 photo of the Magino construction site.

Deeming could bring regulatory certainty to much-needed minerals investment – NSDV  

By: Martin Creamer     23rd June 2022 The detraction of the South African investment market is the uncertainty around approval timelines and the implementation of a deeming provision could change all that by treating applications as approved after the passing of a set period of time. Many want to invest in exploration and mining... 

NSDV advisory head Mark Gilbert.
NSDV Advisory Head Mark Gilbert interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Alexco suspends milling at Keno Hill to continue underground development

By: Mariaan Webb     23rd June 2022 The share price of Alexco Resources took a tumbling on Wednesday after the company announced the temporary suspension of milling activities at the Keno Hill mine, in Yukon, to allow for more time to get further ahead with underground development. Chairperson and CEO Clynton Nauman said Alexco... 

Electra studies new cobalt refinery in Quebec

By: Creamer Media Reporter      23rd June 2022 Canada’s Electra Battery Materials has begun preliminary discussions with the Quebec government to build a new cobalt refinery at Bécancour that will integrate with an emerging battery materials park in the province. "Given a forecasted deficit in domestic cobalt sulphate production by 2025, we... 

Curtain falls on 777 mine in Flin Flon

By: Creamer Media Reporter      23rd June 2022 Mining activities at the 777 zinc/copper mine, in Flin Flon, Manitoba, have concluded, after reserves were depleted following 18 years of steady production, TSX- and NYSE-listed Hudbay Minerals reported on Wednesday. Closure activities at the 777 mine have started and employees and equipment are... 

Curtain falls on 777 mine in Flin Flon

Stibnite project receives its first permit

By: Mariaan Webb     23rd June 2022 The Idaho Department of Environmental Quality (IDEQ) has granted the Stibnite gold project an air permit, mandating compliance with state and federal air standards and regulating emissions from construction and mining. "Receipt of our first permit marks a significant milestone for the Stibnite... 

Sustainability taking front seat at Harmony Gold  

By: Martin Creamer     22nd June 2022 Large South African gold miner Harmony Gold sees R500m/y savings from Phase 2 on-balance-sheet renewables projects. This means the estimated R1.5-billion cost of the planned 137 MW second phase solar power projects will be covered in three years. 

Picture supplied
Harmony Gold investor relations head interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Silver Hammer CEO excited by discovery potential of its past-producing mines

By: Mariaan Webb     22nd June 2022 There is an adage that says the best way to find a new mine is to look in the shadow of the headframe of an existing or historic mine. That is exactly what junior resources company Silver Hammer is doing in the US, where it owns assets in some of the best silver-mining districts. The exploration... 

Silver Hammer president and CEO Morgan Lekstrom
Silver Hammer president and CEO Morgan Lekstrom

Trudeau’s energy chief unveils low-carbon industrial strategy

By: Bloomberg     22nd June 2022 Canada is launching an industrial strategy for its natural resources, with critical mineral infrastructure, hydrogen production and other low-carbon projects set to be a major focus. The strategy, formally known as the Regional Energy and Resource Tables, will see Prime Minister Justin Trudeau’s... 

Natural Resources Minister Jonathan Wilkinson
Natural Resources Minister Jonathan Wilkinson

Nevada Lithium appoints new CFO

By: Creamer Media Reporter      22nd June 2022 Nevada Vanadium Mining has appointed Zula Kropivnitski as CFO, replacing Irina Plavutska. Plavutska is retiring and will remain a consultant to the company. 

Lithium Power consolidates Chile project

By: Esmarie Iannucci     22nd June 2022 Lithium developer Lithium Power International (LPI) has unveiled plans to consolidate ownership of the Maricunga brine project, in Chile, by way of a three-party all-scrip merger with its joint venture (JV) partners. LPI currently holds a 51.55% interest in the Maricunga project, with JV partner... 

Minnesota Court of Appeals dismisses challenge to PolyMet air permit

By: Mariaan Webb     22nd June 2022 The Minnesota Court of Appeals on Tuesday granted PolyMet's motion to dismiss the last remaining challenge to the proposed nickel mine’s air permit. According to TSX- and NYSE American-listed PolyMet Mining, the court agreed with the company that the case should be dismissed because project... 

De Beers' latest sales cycle generates $650m

By: Creamer Media Reporter      22nd June 2022 Diamond miner De Beers' fifth sales cycle of this year generated $650-million, as US diamond jewellery demand remained strong. Sales revenues were higher than the $477-million generated for the fifth sales cycle of 2021 and the $604-million generated during the fourth sales cycle of this year. 

De Beers CEO Bruce Cleaver
De Beers CEO Bruce Cleaver

Piedmont Lithium looks abroad amid North Carolina uncertainty

By: Reuters     22nd June 2022 Piedmont Lithium's first steps toward securing lithium supplies will be in Quebec or Ghana, not the US, as an intensifying North Carolina regulatory review delays the miner's goal of anchoring America's electric vehicle battery renaissance. The delay has forced Piedmont to expand its strategy... 

The NAL operation in Quebec
The NAL operation in Quebec

St Barbara reviews Simberi, warns of delays in Canada

By: Esmarie Iannucci     22nd June 2022 Gold miner St Barbara has announced a strategic review of its Simberi operations, in Papua New Guinea, and has decided to defer a final investment decision on the sulphide expansion project as project costs balloon. The company has also announced a corporate restructure that would see its... 

Small diamond miners want big licence holders built in so they can grow sector together  

By: Martin Creamer     21st June 2022 Small diamond miners want to lock arms with all stakeholders through the South African Diamond Producers’ Organisation (Sadpo) to recover a large number of lost jobs and to realise the full potential value alluvial diamonds. “The role of Sadpo is to take on those big conversations and make sure... 

Picture supplied.
Sadpo CEO Yamkela Makupula interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Pasofino Gold gets new CEO

By: Mariaan Webb     21st June 2022 Canada-based exploration company Pasofino Gold, which is earning a 49% interest in the Dugbe gold project in Liberia, has appointed a new CEO. The company announced on Monday that Daniel Limpitlaw has replaced Ian Stalker as president and CEO with immediate effect. 

Yellen urges less dependence on other nations for key supplies

By: Bloomberg     21st June 2022 Treasury Secretary Janet Yellen said the US should work on shifting dependence on some nations for supplies of critical inputs as global supply-chain logjams have hurt the domestic economy. “We saw during the pandemic that our supply chains were very brittle and really lacking in resilience,”... 

Fireweed Zinc mobilises field crews for Macmillan Pass drilling

By: Creamer Media Reporter      21st June 2022 The first field crews have been mobilised to the Macmillan Pass property, in Yukon, to prepare for the 2022 drill programme – set to be Fireweed Zinc’s largest to date with 8 000 m of diamond drilling planned. The TSX-V-listed explorer reports that significant improvements are being made to the... 

Fission signs Indigenous community agreement

By: Creamer Media Reporter      21st June 2022 Kelowna-based Fission Uranium has entered into an engagement and capacity agreement with the Ya'thi Néné Lands and Resources Office (YNLR), which represents the Athabasca Nations and Communities of the Nuhenéné. Fission’s Patterson Lake South (PLS) project in the Athabasca basin is within the... 

First gold from Alamos’ La Yaqui Grande mine

By: Mariaan Webb     20th June 2022 Canada-based Alamos Gold has announced initial gold production from the La Yaqui Grande mine, in Mexico, following the completion of construction this month. Stacking rates continue to ramp up with leaching activities beginning earlier in June.   

Guinea gives Simandou iron ore mine developers 14-day deadline

By: Reuters     20th June 2022 Partners in Guinea's Simandou iron ore mine have 14 days to finalise a joint venture, interim president Mamady Doumbouya said at a meeting with the miners, Rio Tinto and Chinese-backed Winning Consortium Simandou (WCS) on Friday. Guinea has grown increasingly impatient with the companies that... 

Iron-ore sinks and steel mills go dark on deepening China gloom

By: Bloomberg     20th June 2022 Iron-ore plunged more than 7% in Singapore -- giving up all its gains this year -- as steel mills idled blast furnaces amid growing pessimism over the demand outlook in China. The steel-making ingredient has now lost around a fifth of its value in a run of declines that’s extended to an eighth... 

Iron-ore sinks and steel mills go dark on deepening China gloom

Changes afoot as Lake moves to cement North American position

By: Esmarie Iannucci     20th June 2022 ASX-listed Lake Resources has appointed chairperson Stu Crow as executive chairperson to oversee the company’s transition to serve North American and Asian supply chains, with MD Steve Promnitz to step aside. “Lake’s aspirational target is to reach capacity of 100 000 t/y by 2030 which will... 

Imperial unveils PEA for Crater Lake scandium/REE project

By: Mariaan Webb     20th June 2022 The Crater Lake TG Zone project, northeast of Schefferville, Quebec, has the potential to be a long-term provider of critical scandium and magnet rare earth to world markets, a preliminary economic assessment (PEA) has confirmed. The PEA, conducted by WSP Canada, calculated that the project has... 

Kore CEO steps down to cut costs

By: Mariaan Webb     20th June 2022 TSX-V-listed precious metals explorer Kore Mining, which owns assets in California, US, on Friday unveiled a reorganisation plan to conserve capital, which would see CEO Scott Trebilcock step down as president and CEO on July 1. Trebilcock would remain a director of Kore and would be a... 

Friedland’s Ivanhoe Electric seeks as much as $180m in IPO

By: Bloomberg     20th June 2022 Mining magnate Robert Friedland’s Ivanhoe Electric is seeking to raise as much as $180-million by selling shares in an initial public offering (IPO), tapping investor interest in critical minerals that are key to the global energy transition. Ivanhoe Electric plans to sell about 14.4-million... 

An image of mining magnate Robert Friedland
Mining magnate Robert Friedland

Building Forever has become core business at De Beers, it's in the business plan  

By: Martin Creamer     20th June 2022 It is a full year since the De Beers Group set itself a dozen far-reaching 2030 ‘Building Forever’ sustainability goals, which have as their four focus areas leading ethical practices, protecting the natural world, partnering for thriving communities and accelerating equal opportunity. In... 

Picture provided.
De Beers Group CEO Bruce Cleaver interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Arizona Lithium to establish research center for Big Sandy

By: Esmarie Iannucci     20th June 2022 ASX-listed Arizona Lithium has inked a five-year lease to establish a lithium research center in Arizona. The research center will focus on technological advancements in lithium processing and aims to advance the battery materials industry in Arizona, with construction expected to be completed... 

Green hydrogen’s business case significantly strengthened, summit hears 

By: Martin Creamer     17th June 2022 Green hydrogen, when earlier identified as a necessary clean energy source to help the world achieve net-zero emissions in the coming decades, was higher up the cost curve than fossil fuels. Now that has changed with this week’s Financial Times Hydrogen Summit emphasising that green hydrogen’s... 

Creamer Media screenshot
FT Hydrogen Summit panel discussion.

Northern Graphite prepares to garner govt support for graphite operations

By: Marleny Arnoldi     17th June 2022 TSX-V-listed Northern Graphite has engaged a public affairs advisory firm called Navigator to assist the company in securing government support to advance its Bisset Creek graphite mine, in Ontario. Northern Graphite is in the process of garnering financing to construct the mine. 

Glencore interim trading profit seen beating full-year guidance at $3.2bn 

By: Marleny Arnoldi     17th June 2022 Diversified miner and commodities trader Glencore said on Friday that its marketing division’s interim earnings before interest and taxes (EBIT) would exceed $3.2-billion, which is the top end of its full-year guidance. The company’s full-year adjusted EBIT guidance range was between... 

Glencore interim trading profit seen beating full-year guidance at $3.2bn

Global Atomic receives LoI from North America for Dasa uranium

By: Mariaan Webb     17th June 2022 Canada’s Global Atomic has received a letter of intent (LoI) for the procurement of 2.1-million pounds of uranium oxide (U3O8) from the Dasa mine, in Niger, with a revenue potential of $110-million. The LoI was received from a “major North American utility”. 

High Court dismisses challenge against Maseve sale  

By: Tasneem Bulbulia     17th June 2022 The High Court of South Africa has dismissed a challenge brought by Africa Wide Mineral Prospecting and Exploration (Africa Wide) against Platinum Group Metals (PTM) and Royal Bafokeng Platinum (RBPlat) over their 2018 Maseve transaction. PTM announced in 2017 that it would sell the concentrator... 

An image of the Maseve concentrator
The Maseve concentrator

Yukon, Canadian governments agree to progress Kudz Ze Kayah project

By: Tasneem Bulbulia     17th June 2022 The Canadian federal and Yukon and governments have concluded the environmental and socio-economic assessment process for the Kudz Ze Kayah project, paving the way for the project to proceed to the regulatory phase. The Kudz Ze Kayah project, proposed by metals and mining company BMC Minerals, is... 

Chevron eyes $2.5bn investments in low-carbon hydrogen

By: Bloomberg     17th June 2022 Chevron plans to spend about $2.5-billion building up its hydrogen business this decade as the oil major accelerates investment in low-carbon technologies. Chevron will develop both green and blue hydrogen, said Austin Knight, vice president of hydrogen at the company’s New Energies unit. The... 

Glencore’s Raglan resuming some operations, but impasse persists

By: Mariaan Webb     17th June 2022 The Raglan nickel and copper mine, in Quebec, is gradually resuming certain operations from Friday, but diversified major Glencore reported that a wage negotiation impasse continued to persist. The company suspended production at Raglan in late May after 630 unionised workers went on strike.... 

The Raglan mine in Quebec
The Raglan mine in Quebec
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