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Silver News

Fresnillo warns of 'more challenging' 2019

By: Reuters     21st May 2019 Fresnillo said on Tuesday the current year would be more challenging than 2018 as a number of industry variables were "working against" the precious metals miner. The company, which posted a 15% drop in first-quarter silver production last month, said it was "disappointed" not to meet its... 

Ariana’s Kiziltepe reports solid start to 2019

By: Simone Liedtke     20th May 2019 Turkey-focused explorer and developer Ariana Resources on Monday reported that its Kiziltepe project produced 7 296 oz of gold during the quarter ended March 31, 2019, reflecting a solid start to 2019. Kiziltepe is part of the Red Rabbit joint venture with Proccea Construction and is 50%-owned by... 

SolGold announces PEA results for Alpala

By: Mariaan Webb     20th May 2019 LSE- and TSX-listed SolGold on Monday published the results of a preliminary economic assessment (PEA) for the Alpala copper/gold/silver deposit at the Cascabel project, in northern Ecuador. The study estimated a “low” start-up capital expenditure of $2.4-billion to $2.8-billion and a “high” net... 

SolGold announces PEA results for Alpala

President's correct, S Africans need to act together to realise economic opportunities – Baissac   

By: Martin Creamer     14th May 2019 President Cyril Ramaphosa is correct in stating that South Africans need to act together with urgency and boldness if they are to realise the economic opportunities before them, Eunomix CEO Claude Baissac said on Tuesday. Baissac, who was speaking to Mining Weekly Online following the finding of... 

President's correct, S Africans need to act together to realise economic opportunities – Baissac
Eunomix CEO Claude Baissac talks to Mining Weekly Online’s Martin Creamer about South Africa’s economic growth needs. Video: Nicholas Boyd. Photograph: Dylan Slater.

Sierra Metals still expects to meet 2019 guidance despite strike

By: Marleny Arnoldi     14th May 2019 Despite losing 12 days of production to an illegal strike at the Yauricocha mine, in Peru, and reporting a slower-than-expected ramp up of throughput at its Mexico mines, Sierra Metals still expects to achieve its 2019 production guidance, CEO Igor Gonzales said on Tuesday. The TSX-listed miner... 

SRR aims for record production in 2019

By: Tasneem Bulbulia     10th May 2019 Precious metals miner SSR Mining has delivered a strong production and financial performance in the March quarter, and is targeting record production for 2019, president and CEO Paul Benson said on Thursday. Benson indicated in a statement announcing the first-quarter results that the company... 

Kinross evaluating Chile comeback, options for Mauritania expansion

By: Mariaan Webb     9th May 2019 Canada-based Kinross Gold is evaluating the potential for a return to long-term production in Chile and has completed the scoping study for the Lobo-Marte project, in the Maricunga district, about 80 km from its La Coipa mine. The scoping study results indicates that Lobo-Marte could produce... 

Worley creating a force for the future of resources and energy 

By: Martin Creamer     7th May 2019 Following the announcement in October 2018 of WorleyParsons' binding offer for Jacobs' Energy, Chemicals and Resources, the combined new entity has come together under a new brand – Worley – involving 57 600 people across 51 countries. While financially a $3.2-billion acquisition, operationally... 

Worley creating a force for the future of resources and energy
Photo by Creamer Media Chief Photographer Dylan Slater
From left, Krish Iyer, president Middle East Africa, Francois Bosch, business development (BD) sales manager, East Africa, Denver Dreyer, senior vice president Mining Minerals and Metals (MM&M), Europe Middle East Africa, Ian Davies, senior vice president, BD & Growth MEA, Ryan Froude, operations manager, East Africa, Robert Hull, vice president, MM&M, Africa, and Ed Hanbidge, vice president, Energy Chemicals and Services, Southern and Eastern Africa.

Difficult start to the year for Endeavour Silver

By: Mariaan Webb     6th May 2019 Midtier miner Endeavour Silver, which owns four underground silver/gold mines in Mexico, has initiated a range of short- and long-term actions aimed at conserving cash and turning around the weak performance of the first quarter. The NYSE- and TSX-listed miner on Monday reported a 28% decrease... 

Yamana Gold eyes $100m expansion in Brazil

By: Mariaan Webb     2nd May 2019 Precious metals miner Yamana Gold is considering several expansion opportunities at its mines, including a $100-million expansion in Brazil that will add about 80 000 oz/y to its production. With more financial flexibility following the $1-billion sale agreement of Brazil-based Chapada to Lundin... 

Hochschild on track to meet full-year output, cost guidance

By: Creamer Media Reporter      30th April 2019 London-listed Hochschild achived a strong start to this year, with attributable production of 121 367 gold-equivalent ounces or 9.8-million silver-equivalent ounces for the quarter ended March 31. This was mostly as a result of "another solid quarter" from its Inmaculada mine, in Peru, and a... 

Polymetal's Amursk POX plant certified under International Cyanide Management Code

By: Creamer Media Reporter      30th April 2019 London-listed precious metals miner Polymetal's Amursk pressure oxidation (POX) plant, has become the second gold production operation in Russia to be certified as being in full compliance with the International Cyanide Management Code (Cyanide Code) as both a gold mining company and, separately,... 

Societe Generale resigns as London gold and silver market maker

By: Reuters     30th April 2019 The London Bullion Market Association (LBMA) said Societe Generale had resigned as a market maker for gold and silver, as France's third-largest bank pushes ahead with a downsizing of its commodities business. SocGen said this month it would cut 1 600 jobs to boost profits after poor performance... 

Americas Silver’s Cosalá makes up for Galena Complex silver production shortfall

By: Marleny Arnoldi     30th April 2019 TSX- and NYSE-listed Americas Silver Corporation raised its silver output for the first quarter by 9% year-on-year to 1.8-million silver equivalent ounces, and 395 000 oz of silver, which was consistent with that produced in the first quarter of last year. The company reported that milled... 

Premier confirms gold mineralisation between Cove, McCoy mines

By: Marleny Arnoldi     29th April 2019 TSX-listed Premier Gold Mines has intersected high-grade gold mineralisation in the first hole drilled at its Antenna target, which is located between the historic Cove and McCoy gold/silver openpit mines, in the US. The company’s discovery included a 118.9-m-thick mineralised zone grading 4.12... 

Trans-Siberian lifts first-quarter gold, silver output

By: Simone Liedtke     29th April 2019 Russian miner Trans-Siberian Gold achieved a 52% year-on-year increase in gold production to 12 345 oz at its Asacha gold mine for the three months ended March 31. The increase was driven by higher grades and better recoveries, the company said, adding that it remains on track to meet its... 

Glass Lewis supports three dissident nominees at Hudbay Minerals

By: Bloomberg     29th April 2019 A prominent shareholder advisory firm has recommended investors partially support efforts from one of Hudbay Minerals Inc.’s largest investors to revamp the board, including withholding their votes for the company’s chairperson Alan Hibben. Glass Lewis urged investors to support three nominees... 

Glass Lewis supports three dissident nominees at Hudbay Minerals

Atalaya’s Riotinto operations continue amid mining permit dispute

By: Marleny Arnoldi     26th April 2019 Aim- and TSX-listed copper and silver producer Atalaya on Friday provided an update with regard to a mining permit dispute at its Riotinto mine, in Spain. In November 2016, environmental group Ecologistas en Acción filed a claim, additional to the lawsuit filed in July 2014 related to the... 

Underground copper project start remains on track

19th April 2019 Copper ore company Nevada Copper has confirmed that its Pumpkin Hollow underground copper project remains on target to start production in the fourth quarter this year. Pumpkin Hollow is located in Nevada, in the US and has substantial reserves and resources including copper, gold and silver. 

Underground copper project start remains  on track
ON SCHEDULE surface infrastructure and processing equipment are advancing to plan

Polymetal reports big jump in production

By: Creamer Media Reporter      18th April 2019 Russian gold and silver producer Polymetal on Thursday reported a 27% year-on-year increase in first-quarter gold-equivalent (GE) production, on the back of a strong performance from its Kyzyl mine and steady operational performance at its other mines. GE production increased to 374 000 oz. Gold... 

Moroccan miner Managem considering raising $200m in bond sales

By: Reuters     17th April 2019 Morocco's leading mining firm Managem says it is considering raising $200-million through the sale of nonconvertible bonds with a maturity of up to seven years, to fund its development plans. The terms of the issuance will have to be approved by its general assembly on May 6, Managem said in a... 

Judge revokes water-use permit for Hecla’s Montana project

By: Mariaan Webb     17th April 2019 A judge in the US state of Montana has reversed the award of a water-use permit for Idaho-based Hecla Mining subsidiary, RC Resources’ Rock Creek silver/copper mine. Montana District Court Judge Kathy Seeley sided with plaintiffs who argued that their concerns regarding the impact that the... 

First Majestic reports solid start to 2019

By: Creamer Media Reporter      17th April 2019 Mexico-focused miner First Majestic Silver has had a solid start to 2019, with its first-quarter production reaching 6.3-million silver-equivalent ounces (SEOs). This compares with 3.9-million SEOs in the same quarter of 2018, and 6.5-million SEOs in the fourth quarter of last year. 

Court ruling not affecting Almaden’s Ixtaca project

By: Creamer Media Reporter      16th April 2019 Vancouver-headquartered Almaden Minerals on Monday clarified that the mineral claims subject to a court ruling about the constitutionality of the Mexican title system did not form part of the current claims covering its Ixtaca deposit. A lower court in Puebla state had reportedly ruled that... 

Enviro Minister OKs New Gold’s proposed $1.8bn mine

By: Mariaan Webb     16th April 2019 The Blackwater openpit gold and silver mine that TSX-listed New Gold is planning to build south-west of Prince George, British Columbia, has received the thumbs up from federal Environment and Climate Change Minister Catherine McKenna. The Minister concluded, following an environmental... 

Orion clinches potent new-style empowerment deal  

By: Martin Creamer     16th April 2019 Sydney- and Johannesburg-listed exploration and mining development company Orion Minerals has found a formula to achieve empowerment that puts all shareholders at full participation and contribution. “What we’ve arrived at is a fantastic win-win scenario,” an overjoyed Orion CEO Errol Smart told... 

Orion clinches potent new-style empowerment deal
Orion Minerals CEO Errol Smart (left) interviewed by Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Photographs: Dylan Slater.

Strike ends at Sierra Metals’ Yauricocha mine

By: Creamer Media Reporter      15th April 2019 A near-month-long labour strike over contractor changes at the Yauricocha mine, in Peru, ended at the weekend. Canada-based mining company Sierra Metals has said that an agreement was reached whereby no contractors dismissed as part of the contractor change will be reinstated, which was the... 

Silver consumption at three-year high

By: Reuters     12th April 2019 Global silver demand rose 4% last year, chalking up its first increase since 2015, thanks to sharply higher consumption in India, with a supply fall creating a small deficit, an industry report said on Thursday. The world consumed 1 033.5-million ounces in 2018, up from 998.4-million ounces... 

Fresnillo and MAG Silver approve $395m Mexico project

By: Creamer Media Reporter      11th April 2019 The boards of joint venture (JV) partners Fresnillo and MAG Silver have approved the development of the Juanicipio silver and gold project, in Mexico, with construction set to begin immediately. The project, which will require $395-million in capital expenditure, is expected to produce... 

Fresnillo first-quarter production slumps, sticks to full-year targets

By: Reuters     11th April 2019 Precious metals miner Fresnillo reported a fall in first-quarter production on Thursday, calling it "slightly weaker than anticipated" but sticking to output targets for the year as spending on tackling operational issues paid off. Silver output slipped 14.8% to 13.1-million ounces in the three... 

Gold Fields declares maiden reserve at Salares Norte, targets first gold in 2023 

By: Marleny Arnoldi     10th April 2019 Gold Fields earlier this year completed a definitive feasibility study (DFS) on its Salares Norte project, in Chile, South America, which enabled the company to declare a maiden reserve for the project. The company started exploration on the prospect in March 2011, with drilling to date... 

Gold Fields declares maiden reserve at Salares Norte, targets first gold in 2023
Photo by Creamer Media
Gold Fields CEO Nick Holland

Ivanhoe reaffirms its support for the DRC

By: Mariaan Webb     9th April 2019 TSX-listed mining company Ivanhoe Mines is committed to the responsible development of the mining industry in the Democratic Republic of Congo (DRC) and will work with the newly elected government to introduce the country to investors from around the world. This is according to co-chairperson... 

Ivanhoe reaffirms its support for the DRC
Robert Friedland

Silver Mines raises cash for exploration

By: Esmarie Iannucci     29th March 2019 Junior Silver Mines has raised A$3-million through a share placement to institutional and sophisticated investors. The placement was priced at 5c a share, with the shares issued under the company’s existing placement capacity. 

Strike halts operations at Sierra Metals' Peru mine

By: Creamer Media Reporter      22nd March 2019 TSX-listed miner Sierra Metals has suspended all mining and milling activity at its Yauricocha mine, in Peru, after unionised workers downed tools over contractor changes in a strike that is deemed illegal. The employees belong to the Union of the Mine and Metallurgical Workers of Minera Corona,... 

Kinross acquires 9.7% of Wolfden Resources

By: Marleny Arnoldi     20th March 2019 TSX-V-listed Wolfden Resources’ share price shot up 5% to C$0.18 apiece, following its announcement that Kinross Gold would take a 9.7% stake in the junior miner. The subscription agreement entails a nonbrokered private placement of about 12.5-million common shares of Wolfden at a price of... 

Blasting accident kills two at Leagold mine

By: Simone Liedtke     4th March 2019 TSX-listed Leagold Mining reported two fatalities at its Fazenda mine, in Brazil, over the weekend. Five employees, two of whom suffered fatal injuries, were involved in an underground blasting accident that occurred on the evening of February 28. 

Phoenix increases landholding around Empire

By: Marleny Arnoldi     27th February 2019 Aim-listed Phoenix Global Mining on Wednesday announced a threefold increase in its US-based Empire mine landholding, to the north and west of the Horseshoe claim block at Windy Devil and Navarre Creek. The company’s landholding increased by 3 880 acres, from 1 837 acres, or 7.43 km, and now... 

Hudbay hits base, precious metals near its Lalor mine

By: Marleny Arnoldi     27th February 2019 TSX- and NYSE-listed Hudbay has discovered a depsoti with 35.6 m of high-grade mineralisation that has both zinc-rich massive sulphides and gold, between the old Chisel North mine and the producing Lalor mine, in Canada, both of which Hudbay owns. At a downhole depth between 540 m and 576 m,... 

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