R/€ = 17.14 Change: -0.17
R/$ = 16.85 Change: -0.33
Au 1737.79 $/oz Change: -67.42
Pt 850.50 $/oz Change: -26.40

North America News

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... 

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... 

Battery metals index to launch in Toronto

By: Mariaan Webb     6th June 2022 The Toronto Stock Exchange has announced the launch of a new battery metals index, which will measure the performance of TSX and TSX-V-listed companies that are focused on the production and exploration of metals involved in the decarbonisation of the transportation sector. 

Iron-ore extends gains above $140 on optimism for China demand

By: Reuters     6th June 2022 Iron-ore topped up its biggest weekly gain in 13 weeks as traders tracked China’s moves to rein in Covid-19 restrictions that have weighed on steel demand this quarter. Futures in Singapore crept higher on Monday morning after surging more than 7% last week on optimism over China’s plans to get... 

Iron-ore extends gains above $140 on optimism for China demand

Biden keeps funds flowing to build US EV supply chain

By: Bloomberg     6th June 2022 President Joe Biden has taken lots of heat for stoking inflation with government spending. It’s not stopping him from keeping the spigot open to fund a domestic electric vehicle supply chain. The latest sum of support was tucked into the Ukraine aid bill that Biden signed into law late last... 

An image of US President Joe Biden
US President Joe Biden

Canadian miner Teck sets nature-positive goal

By: Creamer Media Reporter      6th June 2022 Diversified miner Teck Resources has committed to conserve or rehabilitate at least three hectares for every hectare disturbed by its mining activities as part of a goal of becoming a nature positive company by the end of the decade. Through land conservation investments, Teck will protect 14... 

An image of Elmo Lake, part of the Next Creek headwaters
Elmo Lake, part of the Next Creek headwaters

Implats to get secondary listing on the A2X

By: Tasneem Bulbulia     6th June 2022 Platinum group metals (PGMs) producer Impala Platinum (Implats) is set to list on A2X Markets (A2X), with its ordinary shares to be available for trade on A2X from June 13. The company will retain its primary listings on the JSE and its Level 1 American Depositary Receipt programme in the US. 

An Implats flag at one of the miner's operations

Circular economy prompting steel, oil, carbon recovery from end-of-life mine truck tyres  

By: Martin Creamer     6th June 2022 Highest and best use of ultra-large end-of-life mine truck tyres is being brought about by a change to the model in which resources are mined, made into products, and then become waste. Just one of these giant tyres can weigh 4.5 t and stand 14 feet tall. Put five of the 63-inch variety into a... 

Picture supplied.
Kal Tire’s Dan Allan speaks to Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Giyani on track to publish feasibility study in Q3

By: Marleny Arnoldi     3rd June 2022 TSX-V-listed Giyani Metals Corporation has completed a reverse circulation infill drill programme at the K.Hill Extension deposit, in Botswana, for a total 4 561 m. The company aims to upgrade the current 3.1-million tonnes of inferred resources into indicated resources.  

Corsa expects coal production to improve in coming months

By: Mariaan Webb     3rd June 2022 US-based metallurgical coal producer Corsa Coal reported on Thursday that it taken steps to improve productivity and retain qualified employees to help coal production recover in the coming months. The miner stated that second quarter sales tons should increase over the first quarter and return... 

Gold Fields’ acquisition of Yamana enhances credit quality – Moody’s  

By: Mariaan Webb     3rd June 2022 South Africa-based Gold Fields’ $6.7-billion acquisition of Yamana Gold will enhance its credit quality as the combined group will benefit from a bigger scale and broader geographic diversification without any new debt being raised, says credit ratings agency Moody’s. The acquisition of its peer... 

An image of a truck in a pit at the Damang mine

Canada junior eyes Mexico’s potash riches as lithium laws change

By: Mariaan Webb     3rd June 2022 Canada-based junior explorer Advance Lithium is seeking to tap the potassium potential of its deposits in Mexico, after the country’s recent mining law changes that will place all activities related to lithium in the hands of a yet-to-be-formed lithium company. Advance Lithium, whose share price... 

Junior explorer scores big in Namibian gold belt where mining majors failed  

By: Martin Creamer     2nd June 2022 If you want to raise real risk capital for exploration, you need Canadian-style investors to provide it, the 2022 Junior Indaba heard on Thursday. While it was acknowledged that South Africa has the money, it was also reiterated that the country is just not channeling it into exploration, where... 

Osino Resources CEO Heye Daun
Junior Indaba covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Stellantis secures lithium supply from California for EV batteries

By: Reuters     2nd June 2022 Stellantis has secured lithium essential for its electric vehicle production in North America from a project in California, as carmakers worldwide scramble to secure supply of the battery metal key to the electric vehicle revolution. Controlled Thermal Resources (CTR) will supply the owner of... 

Trillium continues to extend foothold along Confederation belt

By: Creamer Media Reporter      2nd June 2022 Northern Ontario-focused Trillium Gold Mines has signed an option agreement to acquire the Wenasaga gold property, held by Bounty Gold, contiguous to its Eastern Vision land package. The 1 692-ha property effectively extends Trillium’s dominant foothold along the Confederation belt on trend with... 

Wesdome drilling continues to expand Kiena

By: Creamer Media Reporter      2nd June 2022 Exploration drilling at the Kiena Mine Complex, in Val d’Or, Quebec, continues to expand high-grade zones and has also yielded the discovery of a new zone, Toronto-headquartered Wesdome Gold Mines reported on Wednesday. Since the completion of the prefeasibility study (PFS) for Kiena in 2021,... 

Woodside starts trading on NYSE

By: Esmarie Iannucci     2nd June 2022 Oil and gas major Woodside will start trading on the NYSE, under the ticker WDS, on Thursday. The New York listing followed Woodside completing the merger with diversified miner BHP’s petroleum business, creating a top 10 global independent energy company by hydrocarbon production and the... 

Skeena completes QuestEx acquisition

By: Creamer Media Reporter      2nd June 2022 Dual-listed Skeena Resources has completed the acquisition of QuestEx Gold and Copper and now holds one of the biggest land positions for mining in the prolific Golden Triangle. CEO Walter Coles said on Wednesday that Skeena expected to realise exploration synergies at the KSP and Kingping... 

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