R/€ = 17.12 Change: -0.16
R/$ = 16.85 Change: -0.32
Au 1732.50 $/oz Change: -72.71
Pt 848.00 $/oz Change: -28.90

North America News

Trillium buys Panama Lake property

By: Creamer Media Reporter      2nd June 2022 TSX-V-listed Trillium Gold Mines has signed an agreement to buy the rights and titles to the Panama Lake property, which effectively extends the company’s contiguous foothold along the Confederation belt by 9 882 ha. The Panama Lake property, held by St Anthony Gold, is located about 80 km from,... 

Far-reaching JSE reforms highlighted at exploration-focused Junior Indaba 

By: Martin Creamer     1st June 2022 The June 1 launch of the JSE’s new Cutting Red Tape initiative to make listing on the JSE considerably easier, faster and more sustainable is twinning with JSE’s recent private placements inventiveness that provides for the raising of capital in the private market for minerals exploration and the... 

Picture supplied by JSE.
JSE head of origination and deals Sam Mokorosi.

Day of Women in Mining set for June 15 to showcase inclusivity

By: Donna Slater     1st June 2022 Not-for-profit women in mining empowerment organisation International Women in Mining (IWiM) has launched International Day of Women in Mining on June 15 to acknowledge and celebrate past, present and future women in mining. The International Day of Women in Mining is intended to raise awareness... 

Global copper supply to outpace demand next year, says RBC

By: Reuters     1st June 2022 Global copper supply will outpace demand over the next two years, helped by several upcoming large mine projects, RBC Capital Markets analysts said on Wednesday. The brokerage in a note said it expects the industrial metal's price to be at $4.32 per pound in 2022, and then drop to $3.75 in 2023... 

An image of copper cathodes

Adventus and Salazar receive ESIA approval for Ecuador project

By: Creamer Media Reporter      1st June 2022 The Ecuador government has approved the environmental and social impact assessment (ESIA) for the Curipamba-El Domo project, paving the way for the citizen participation process, final environmental licence issuance and formal construction decision in the second half of the year. The ESIA... 

Kinross invests in E2Gold

By: Mariaan Webb     1st June 2022 TSX-V-listed E2Gold’s share price jumped 8% on Monday as the company announced that Kinross Gold will be a strategic investor, acquiring a 9.9% shareholding. Kinross has expressed its intention to support E2Gold’s activities at the district-scale Hawkins gold project, in north-central Ontario,... 

RDM’s TSF raise approved, says Equinox

By: Creamer Media Reporter      1st June 2022 Dual-listed Equinox Gold has received approval for the tailings storage facility (TSF) raise at its RDM mine, in Brazil, with the contractor set to start work in early June. The company previously suspended operations at the RDM mine, pending regulatory approvals for the TSF raise. Equinox said... 

More gold deals are in the works if Yamana is any gauge

By: Bloomberg     1st June 2022 Yamana Gold considered other options before agreeing to be acquired by Gold Fields for about $7-billion, suggesting there are discussions for other prospective deals in the gold industry, the Canadian firm’s executive chairman said. “We cannot be, and should not be, the only company that is... 

An image of Peter Marrone
Yamana executive chairperson Peter Marrone

Woodside completes BHP merger

By: Esmarie Iannucci     1st June 2022 The merger between oil and gas major Woodside Energy Group and diversified miner BHP’s petroleum assets have been completed. Woodside has acquired the entire share capital of BHP Petroleum International (BHPP) and issued more than 914.7-million new Woodside shares to BHP, which BHP will... 

Image shows the Woodside building

Sedibelo Platinum to play important part in South Africa’s green hydrogen effort – Frandsen  

By: Martin Creamer     31st May 2022 Sedibelo Platinum Mines, in South Africa’s North West province, will be playing a very important part in South Africa's green hydrogen effort to ensure that it contributes to a greener South Africa, chairperson Arne Frandsen assured Mining Weekly on Tuesday. Frandsen is the managing partner and... 

Creamer Media screenshot
Pallinghurst Group's Arne Frandsen interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Oil powers to sixth monthly gain as EU set to curb Russian flows

By: Bloomberg     31st May 2022 Oil headed for the longest run of monthly gains in more than a decade as European Union (EU) leaders agreed to pursue a partial ban on imports of crude from Russia to increase pressure on Moscow for its invasion of Ukraine. Global benchmark Brent topped $122 a barrel, hitting a two-month high.... 

Gold Fields sets sights on further growth with proposed buyout of Yamana 

By: Tasneem Bulbulia     31st May 2022 JSE- and NYSE-listed Gold Fields and Americas-focused gold producer Yamana Gold have entered into a definitive agreement under which Gold Fields will acquire all of the outstanding common shares of Yamana Gold pursuant to a plan of arrangement. The transaction implies a valuation for Yamana of... 

An image of Gold Fields CEO Chris Griffith
Chris Griffith

Silverton buys Mexico gold/silver deposit

By: Creamer Media Reporter      31st May 2022 TSX-V-listed Silverton Metals on Monday announced the acquisition of an underexplored, high-grade epithermal gold/silver deposit in Mexico. The company would buy the Margaritas property, comprising two concessions totalling 500 ha in Durango, from Zapata Exploration and 0924682, a private company... 

Los Andes drilling expands Vizcachitas copper project

By: Creamer Media Reporter      31st May 2022 Recent drilling at the Vizcachitas, in Chile, has continued to expand the advanced copper project, TSX-V-listed Los Andes Copper reported on Monday. The new results include 331 m grading 0.63% copper-equivalent (0.55% copper, 212 ppm molybdenum and 1.28 g/t silver) in hole CMV 012B on the... 

Osisko Development wraps up Tintic acquisition

By: Creamer Media Reporter      31st May 2022 TSX-V and NYSE-listed Osisko Development has completed its previously announced acquisition of Tintic Consolidated Metal, which owns the producing Trixie test mine and mineral claims in central Utah. “With the acquisition of Tintic we have inherited not only a highly prospective test mine in the... 

Sibanye appoints chief regional officers for Americas, Southern Africa

By: Creamer Media Reporter      31st May 2022 Multinational mining and metals group Sibanye-Stillwater has appointed Charles Carter as Americas chief regional officer, with effect from June 1, as the group establishes a regionalised leadership structure to help it deliver on its corporate strategy. The new regionalised leadership structure... 

Transnet increasing rail and port capacity allocation for emerging miners 

By: Martin Creamer     30th May 2022 To reduce barriers to entry, improve the ease of doing business and support transformation of the mining sector, measures are to be implemented to increase rail and port capacity allocation for emerging miners, Transnet announced on Monday. Improving access to loading facilities, and simplifying... 

Picture from Creamer Media files.
Rail capacity allocation for emerging miners to be increased.

AngloGold Ashanti to list on A2X

By: Darren Parker     30th May 2022 Gold miner AngloGold Ashanti has been approved for a secondary listing on A2X, where its shares will be available for trade from June 6. AngloGold said on May 30 that it believed the A2X listing would allow a new, competitively priced, alternative platform for investors to trade shares of the... 

Mkango, CoTec to collaborate on downstream rare earth technologies

By: Tasneem Bulbulia     30th May 2022 Aim- and TSX-V-listed Mkango has signed a nonbinding term sheet with environment, social and governance-focused company CoTec Holdings, in relation to investments by CoTec into Mkango and Mkango’s subsidiary, Maginito, and in collaboration in downstream rare earth technologies. The transactions... 

Unions back Baffinland’s request to up Mary River production

By: Creamer Media Reporter      30th May 2022 The International Union of Operating Engineers, Local 793 and International Union of Operating Engineers (IUOE) have urged the federal government to approve Baffinland Iron Ore's request for an emergency order to allow the company to increase production at the Mary River mine through to the end... 

Workers walk out at Glencore’s Raglan nickel mine

By: Mariaan Webb     30th May 2022 Diversified miner Glencore has suspended production at its Raglan nickel and copper mine, in Quebec, after 630 unionised workers went on strike late on Friday night. The parties met on Friday in the presence of a mediator, without breaking an impasse in wage negotiations. Glencore it had tabled... 

An image of the Raglan mine, in Quebec.
The Raglan mine, in Quebec

Goldman says bull market in battery metals is finished for now

By: Bloomberg     30th May 2022 Goldman Sachs Group said the price of three key battery metals -- cobalt, lithium and nickel -- will drop over the next two years after investors wanting exposure to the green-energy transition piled in too quickly. “Investors are fully aware that battery metals will play a crucial role in the... 

Goldman says bull market in battery metals is finished for now

Glencore bribery cases draw in billionaire former executives 

By: Bloomberg     30th May 2022 The US corruption and market manipulation cases against Glencore include allegations about the conduct of two former executives who formed part of the inner circle of the trading house’s top management for over a decade -- and walked away as billionaires. The US government did not bring any... 

Merrick Garland, US attorney general, speaks during a news conference on the Foreign Corrupt Practices Act at the Department of Justice, in Washington, D.C., on Tuesday, May 24, 2022.
Merrick Garland, US attorney general, speaks during a news conference on the Foreign Corrupt Practices Act at the Department of Justice, in Washington, D.C., on Tuesday, May 24, 2022.

Azure strikes A$20m deal over Mexican assets

By: Esmarie Iannucci     30th May 2022 ASX-listed Azure Minerals has struck a binding, conditional sale agreements to sell its Mexican precious and base metals projects to mineral resources developer Bendito Resources Inc for A$20-million in cash and shares. Bendito intends to list on the TSX within 18 months of completing the... 

G7 countries say strict environmental rules needed for deep-sea mining

By: Reuters     30th May 2022 The Group of Seven countries on Friday agreed stringent environmental controls should govern deep-sea mining and that they would consent to such mining projects only if they did not seriously harm the marine environment. "We determined that if there is deep-sea mining at all, it should only... 

Barrick makes major Tanzania social, skills and infrastructure commitment

By: Creamer Media Reporter      27th May 2022 Canada-headquartered bullion major Barrick Gold on Friday announced that it would spend $6 for every ounce of gold sold by its two mines in Tanzania on improving healthcare, education, infrastructure and access to potable water in the surrounding communities. At the same time, the miner has... 

Bulyanhulu has been resuscitated as a long-life underground mine.

Glencore’s oil-price rigging puts spotlight back on benchmarks

By: Bloomberg     27th May 2022 Glencore's settlement with US prosecutors has cast fresh light on manipulation of an under-the-radar part of the commodities world that’s crucial for valuing physical deals and derivatives. The raw-materials giant this week agreed to plead guilty to rigging fuel-oil assessment prices after... 

SilverCrest starts commissioning at Las Chispas

By: Creamer Media Reporter      27th May 2022 Ausenco Engineering Canada has completed construction of the Las Chispas processing plant, in Mexico, and handed it over to SilverCrest Metals, the Canada-based precious metals company reported on Thursday. Other construction activities handled directly by SilverCrest, including road, bridge, dry... 

Electra advances cobalt refinery, says project budget at risk

By: Mariaan Webb     27th May 2022 Cost pressures emerging from systematic inflation, constrained global supply chains and the sanctions on trade with Russia have put the capital budget of Electra Battery Metals’ cobalt refinery, in Ontario, at risk. The TSX- and Nasdaq-listed company said on Thursday that project cost inputs,... 

Sigma Lithium doubles production target at Brazil mine - CEO

By: Reuters     27th May 2022 Canadian miner Sigma Lithium has more than doubled its target production rate at its Brazilian lithium mine, set to begin production in December, valuing the mine at $5.1-billion, co-chief executive Ana Cabral told Reuters on Thursday. Cabral said the mine will begin operations with a target of... 

Sayona raises A$190m for NAL's start in 2023

By: Esmarie Iannucci     27th May 2022 Lithium developer Sayona Mining on Friday announced a successful A$190-million institutional placement to fund the 2023 restart of its North American Lithium (NAL) operations in Québec. Sayona told shareholders that it had received firm commitments for the placement of more than one-billion... 

Image shows stacked coins

South Africa must reform its regulatory environment, make itself investor-friendly – simple  

By: Martin Creamer     26th May 2022 South Africa must reform its regulatory environment and make itself investor-friendly – simple. That is the straight-forward view of Dr Mathews Phosa, who was speaking to Mining Weekly in his capacity as the non-executive vice-chairperson of the high-flying Jubilee Metals Group plc, a London Aim-... 

Picture supplied
Jubilee's Dr Mathews Phosa interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Copper extends losses on fears of a global recession

By: Reuters     26th May 2022 Copper prices fell for a third day in a row on Thursday and tin slumped to a one-week low as a gloomy economic outlook for top metals consumer China fanned concerns about a global recession, though a soft US dollar lent some support. Three-month copper on the London Metal Exchange was down 0.3%... 

Copper extends losses on fears of a global recession

Sierra Madre buys La Guitarra from First Majestic

By: Creamer Media Reporter      26th May 2022 TSX-V-listed Sierra Madre Gold and Silver on Wednesday announced that it would buy the high-grade, past-producing underground La Guitarra silver/gold mine, in Mexico, from First Majestic Silver. The fully permitted La Guitarra mine and 500 t/d mill would advance Sierra Madre’s goal towards... 

K+S Potash looking to hire more people as it outlines Bethune growth plans

By: Creamer Media Reporter      26th May 2022 K+S Potash Canada (KSPC) on Wednesday unveiled its long-term growth plan for the Bethune mine, in Saskatchewan, announcing that it would effectively double production capacity over the next couple of decades towards four-million tonnes a year. “Saskatchewan has the food, fuel and fertilizer the... 

K+S Potash looking to hire more people as it outlines Bethune growth plans

FFI takes a quantum leap

By: Esmarie Iannucci     26th May 2022 Green energy developer Fortescue Future Industries (FFI) will join forces with quantum computing net-zero initiative Qlimate to explore quantum solutions in the field of green hydrogen. FFI will become a foundational member of the “Qlimate Initiative” to explore quantum computing solutions in... 

The trouble with lithium

By: Bloomberg     26th May 2022 Elon Musk wants to mine it, China is scouring Tibet for it, battery makers are crying out for it. Lithium, the wonder metal at the heart of the global shift to electric cars, is in a full-blown crisis. Demand has outstripped supply, pushing prices up almost 500% in a year and hindering the... 

Biden plan would block Pebble gold mine in Alaska’s Bristol Bay

By: Bloomberg     26th May 2022 The Biden administration on Wednesday is outlining new pollution restrictions that would thwart a long-stalled plan to mine for gold near Alaska’s Bristol Bay. Under the proposed requirements, the Environmental Protection Agency would broadly bar developers of the planned Pebble mine from... 

Biden plan would block Pebble gold mine in Alaska’s Bristol Bay
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