R/€ = 16.97 Change: 0.08
R/$ = 16.42 Change: -0.09
Au 1801.78 $/oz Change: -7.08
Pt 872.24 $/oz Change: -13.76

North America News

Future metals beneficiation bonus on way for already hugely endowed Northern Cape 

By: Martin Creamer     10th June 2022 Modern technology and global decarbonisation demand is positioning South Africa’s already incredibly well-endowed Northern Cape with big beneficiation bonanza potential, in addition to being a green minerals, green metals and green energy haven. Rapidly developing clean beneficiation technology... 

Gold Fields investor tells miner to scrap Yamana deal 

By: Reuters     10th June 2022 A top-10 investor in South Africa's Gold Fields on Friday urged the miner to cancel its planned takeover of Canada-based Yamana Gold, saying the $6.7-billion transaction was expensive and did not guarantee growth and profitability. Shares in the South African miner plunged 20% on May 31, when it... 

Gold Fields investor tells miner to scrap Yamana deal

Hemlo and Barrick still working on due diligence

By: Mariaan Webb     10th June 2022 Canada-based mineral exploration company Hemlo Explorers on Friday announced another extension of the binding term sheet with bullion major Barrick Gold. The companies originally estimated that a definitive agreement would be signed by April 30. 

Copper wilts on renewed China lockdowns and recession fears

By: Reuters     10th June 2022 Copper prices extended their decline on Friday as investors fretted over the prospect of weak economic growth hitting metals demand after renewed Covid-19 lockdowns in China and increases to interest rates. Three-month copper on the London Metal Exchange (LME) fell 0.3% to $9 583.50 a tonne by... 

Group Ten changes name to Stillwater Critical Minerals

By: Mariaan Webb     10th June 2022 TSX-V-listed Group Ten Metals is rebranding to Stillwater Critical Minerals to reflect the potential its sees in the iconic and famously productive Stillwater mining district of the Montana, US. The company’s flagship project is the Stillwater west project, which hosts eight metals – nickel,... 

Abcourt Mines proposes buying Pershimex Resources

By: Mariaan Webb     10th June 2022 TSX-V-listed Abcourt Mines on Thursday announced a nonbinding letter of intent to buy Pershimex Resources as part of its vision to create a bigger and more diversified emerging gold producer and explorer in Quebec. The combined company would have a strategic landholding of more than 510 km2... 

Nutrien accelerating potash ramp-up on eastern Europe supply uncertainty

By: Mariaan Webb     10th June 2022 Canada-based Nutrien on Thursday announced plans to increase its fertiliser capability in response to structural changes in global energy, agriculture and fertiliser markets. The TSX- and NYSE-listed company is accelerating the ramp-up of its potash production capability to 18-million tonnes a... 

Nutrien accelerating potash ramp-up on eastern Europe supply uncertainty

Greenlight's Einhorn sees gold going 'higher, perhaps much higher'

By: Reuters     10th June 2022 Greenlight Capital hedge fund manager David Einhorn said on Thursday that the Federal Reserve is pretending it can tame inflation and that the price of gold is likely to go higher amid the current environment of rising prices. "The question is whether there's enough gold to back the currency... 

Greenlight's Einhorn sees gold going 'higher, perhaps much higher'

Peru communities to allow Las Bambas mine restart after 51-day shutdown

By: Reuters     10th June 2022 A group of indigenous Peruvian communities on Thursday agreed to temporarily lift a protest against MMG's Las Bambas copper mine that forced the company to halt operations for more than 50 days, the longest in the mine's history. According to meeting minutes signed on Thursday afternoon, the... 

Aluminum mood turns bearish at top North American conference

By: Bloomberg     10th June 2022 The aluminum industry’s best days might be in the rear view mirror. At North America’s largest aluminum conference Wednesday, researcher Harbor Intelligence warned an audience of 870 producers, traders and buyers -- many of them sipping Johnnie Walker Gold Label scotch -- that the price of the... 

Nano One, Rio Tinto announce strategic partnership and $10m investment

By: Tasneem Bulbulia     9th June 2022 Clean technology innovator Nano One Materials and global mining and metals group Rio Tinto have entered into a strategic partnership providing iron and lithium products, collaboration and a $10-million investment into Nano One. This partnership and funding is aimed at accelerating Nano One’s... 

Small remaining equity needed for restart of rich old copper mine in Northern Cape 

By: Martin Creamer     9th June 2022 A mine that produced some of South Africa’s best copper and zinc concentrates back in the day is capable of being brought back into production in 19 months after reconstruction go-ahead. Only a very little portion of equity is still required for the restart of the Prieska copper/zinc mine, which... 

Creamer Media screenshot
Where Orion Minerals is developing mines.

South32 and Trilogy JV kicks off Alaska summer field programme

By: Mariaan Webb     9th June 2022 Ambler Metals, the joint venture between South32 and Trilogy Metals, has begun mobilisation for the upcoming exploration field programme at the Upper Kobuk Mineral Projects (UKMP), in north-western Alaska. The owners of Ambler have approved a $26.2-million budget for the advancement of UKMP,... 

Debt-free UEC says it controls biggest ISR uranium portfolio in US

By: Mariaan Webb     9th June 2022 NYSE-listed Uranium Energy Corp (UEC) has closed a series of transactions with Anfield Energy, which has seen the company emerge as debt-free and positioned as a leading conventional uranium-vanadium developer in the Uravan mineral belt, in the US. Anfield has settled $18.34-million of... 

Electra appoints former Kinross exec as CFO

By: Creamer Media Reporter      9th June 2022 Canada-based Electra Battery Materials has appointed Craig Cunningham as CFO. He was previously VP and regional CFO at Kinross Gold, where he was in charge of finance, information, supply chain and logistics functions in Russia. Cunningham was also responsible for accounting, budgeting, and... 

Gold’s haven appeal burnished by drumbeat of growth warnings

By: Bloomberg     9th June 2022 Gold could be heading for another rally, with warnings over a global economic slowdown paving the way for a fresh push toward $2 000/oz. A potent mix of decades-high inflation, geopolitical turmoil and growing talk of recession should be bullish for the traditional haven, according to speakers... 

An image of gold bars

JSE recounts rousing tent-to-tech journey as Southern Palladium turns listing tide  

By: Martin Creamer     8th June 2022 The first in-person listing of the Johannesburg Stock Exchange since covid heard the African kudu horn serenade an opening bid of R6.90 a share for platinum group metals (PGMs) company Southern Palladium, which on Wednesday took its place on the JSE’s main board as a secondary listing under the... 

Creamer Mdedia screenshot.
Southern Palladium’s JSE listing covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Montage expands Koné with C$30m deal to buy Barrick-Endeavour JV

By: Creamer Media Reporter      8th June 2022 Canada-based precious metals explorer and developer Montage Gold is expanding its Koné gold project, in Côte d'Ivoire, with the acquisition of a 100% interest in the Mankono-Sissédougou joint venture (JV) project from Barrick Gold and Endeavour Mining for C$30-million in cash and shares. Mankono... 

Hudbay unveils next leg of its copper growth plans

By: Mariaan Webb     8th June 2022 Canadian diversified miner Hudbay has unveiled the preliminary economic assessment (PEA) for its Copper World project, in Arizona, which represents the next leg of the company’s copper growth strategy. The Copper World project, which will be developed in two phases, has an aftertax net present... 

Hudbay unveils next leg of its copper growth plans

Grassy Mountain permitting inches ahead

By: Mariaan Webb     8th June 2022 Permitting for the Grassy Mountain underground gold mine, which US-based precious metals company Paramount Gold Nevada is developing, took a step forward with the Oregon State Technical Review Team’s (TRT’s) water subcommittee accepting the project’s ground baseline data report (BDR). The... 

Barrick sells Perpetua shares

By: Mariaan Webb     8th June 2022 Bullion miner Barrick Gold on Tuesday announced the disposal of 5 382 587 common shares of Idaho-focused Perpetua Resources for gross cash proceeds of C$21.73-million. Immediately prior to the disposal, Barrick had beneficial ownership of, or control and direction over, about 8.5% of the issued... 

US seeks $4.3bn for uranium to wean off Russia supply

By: Bloomberg     8th June 2022 The Biden administration is pushing lawmakers to support a $4.3-billion plan to buy enriched uranium directly from domestic producers to wean the US off Russian imports of the nuclear-reactor fuel, according to a person familiar with the matter. Shares of uranium companies surged. Energy... 

An image of the White Mesa uranium facility in Blanding, Utah
The White Mesa uranium facility in Blanding, Utah

Increased efficiency cuts carbon, advances net-zero path, research finds  

By: Martin Creamer     8th June 2022 Like all other key industries, mining is having to advance along a net-zero path as part of the global decarbonisation drive. Gone are the days when innovation and financial improvement can be sold on their own without a carbon advantage. (Also watch attached Creamer Media video.) 

Creamer Media screenshot.
Rocsole CEO Mika Tienhaara interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Solidarity calls for action after illegal miners allegedly kill Sibanye-Stillwater employee

By: Tasneem Bulbulia     7th June 2022 Trade union Solidarity has expressed “utter disgust” at what it alleges was the killing of an electrician by illegal miners at Sibanye-Stillwater’s Cooke plant. The union says illegal miners on the night of June 6 shot and killed a worker while he was doing normal repair work to power cables. 

De Beers hikes small diamond prices as sanctions cause shortages

By: Bloomberg     7th June 2022 De Beers has raised the price of smaller diamonds as sanctions on its Russian rival creates a growing shortage of some stones. The price of small rough diamonds, the type that would end up clustered around the solitaire stone in a ring, has surged since the start of March as cutters, polishers... 

Antofagasta reports Los Pelambres concentrate pipeline leak

By: Mariaan Webb     7th June 2022 Copper miner Antofagasta said on Tuesday that a leak had been detected in the underground pipeline that transports concentrate from the Los Pelambres concentrator plant to the port at Los Vilos, in Chile. The leak, which was detected a week ago, did not cause any environmental damage, the London... 

ETFs shed $3bn worth of gold assets in May

By: Marleny Arnoldi     7th June 2022 The World Gold Council (WGC) reports that outflows of global gold-backed exchange-traded funds (ETFs) have ended their four-month run of positive inflows, with outflows totalling 53 t, or $3.1-billion, in May. While this was the largest monthly outflow since March 2021, total holdings remain 8%... 

Rare earths mining marking time amid prospecting bid to explore on same site 

By: Martin Creamer     7th June 2022 A rare earths development is marking time owing to a prospecting right appeal to explore where a mining right has already been granted, Steenkampskraal chairperson Trevor Blench disclosed at last week’s Junior Indaba. The Steenkampskraal mine contains all fifteen rare earths, including those that... 

Picture supplied
Steenkampskraal chairperson Trevor Blench.

Eskay Creek is first mining project to have permits authorised by Indigenous government

By: Mariaan Webb     7th June 2022 Toronto- and New York-listed Skeena Resources has welcomed the historic consent-based decision-making agreement reached by the province of British Columbia and the Tahltan Central Government. Through this agreement, the revitalisation of the past-producing Eskay Creek gold/silver project,... 

Eskay Creek is first mining project to have permits authorised by Indigenous government

Moody's expects most commodity prices to remain high over short term

By: Marleny Arnoldi     7th June 2022 Financial research firm Moody’s Investor Service says in its latest outlook for metals and mining that most commodity prices will remain high for the time being, supporting increases in earnings for many companies. Particularly, base metals prices will remain high and volatile, as prices for... 

Rio targets green steel in Germany

By: Esmarie Iannucci     7th June 2022 Diversified miner Rio Tinto has inked a memorandum of understanding (MoU) with Germany’s Salzgitter Group to study the optimisation of Rio’s Australian and Canadian iron-ore products for use in a green steel project, in Germany. Under the MoU, Rio Tinto and Salzgitter will explore optimisation... 

Geotechnical problems delay stope production at Pumpkin Hollow

By: Mariaan Webb     7th June 2022 Vancouver-based Nevada Copper has started cutting back on its costs, including reducing its contractor workforce, after its Pumpkin Hollow underground copper mine, in Yerington, encountered operational and geotechnical challenges. The company said on Monday access to planned stopes for June and... 

Geotechnical problems delay stope production at Pumpkin Hollow

AngloGold to earn into Latin Metals’ Argentina projects

By: Mariaan Webb     7th June 2022 Bullion major AngloGold Ashanti has been granted an option to earn up to 80% interest in three gold projects owned by Latin Metals in Salta province, north-western Argentina. The South Africa-headquartered major has an option to earn a 75% interest in the Organullo, Ana Maria, and Trigal Gold... 

Nexa searches for new CFO as Menck resigns

By: Creamer Media Reporter      7th June 2022 Latin America-focused zinc producer Nexa Resources has initiated a search for a new finance chief after Rodrigo Menck resigned as CFO on Monday. Menck joined Nexa in 2016 and served as head of treasury and investor relations before being nominated as CFO in January 2019. President and CEO... 

Platinum surplus is ‘fragile’ amid supply risks, council warns

By: Bloomberg     7th June 2022 Platinum’s surplus is “fragile” amid supply risks and growing demand, according to the World Platinum Investment Council. “Supply is fairly constrained and you will not see supply from mines growing in the near or medium-term future,” CEO Paul Wilson said at a precious metals conference in... 

Photo of platinum bars

Jervois ups working capital facility to $150m

By: Creamer Media Reporter      6th June 2022 ASX- and TSX-V-listed Jervois Global has increased its working capital facility with Mercuria Energy Group by $75-million to $150-million. The key terms of the facility remain unchanged. The facility continues to have a maturity date of December 31, 2024, with yearly interest payable on amounts... 

Kamoa-Kakula delivers record monthly copper output

By: Marleny Arnoldi     6th June 2022 TSX-listed Ivanhoe Mines’ Kamoa-Kakula mining complex, in the Democratic Republic in Congo, has set a new monthly production record, with 29 800 t of copper in concentrate produced in May. The operation achieved record output despite planned interruptions during the month, such as scheduled... 

Kamoa-Kakula copper mining complex, in DRC
Kamoa-Kakula copper mining complex, in DRC

Rio Tinto starts drilling at Alderan’s Frisco in Utah

By: Creamer Media Reporter      6th June 2022 Rio Tinto subsidiary Kennecott Exploration Company has started drilling on the Copper Gulch prospect of ASX-listed Alderan Resources’ Frisco project in Utah, US. Alderan MD Scott Caithness explains that Copper Gulch is a porphyry copper target, about 500 m south-west of the copper-rich... 

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