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Silver News

Mexican mining chamber warns uncertainty to bring investment cuts

By: Reuters     1st March 2021 Mexico's large mining sector will likely see some recovery this year after 2020's pandemic-induced slump, but a key industry leader said he fears rising political risk will drag down growth as companies focus new investments elsewhere. Fernando Alanis, president of Mexican mining chamber... 

Lundin group sees Argentine gold and silver mine opening in 2026

By: Reuters     25th February 2021 Canadian mining group Lundin plans to begin operating its Argentine silver-gold-copper project Josemaria in 2026, after an investment of $3.09-billion, a company spokesman told Reuters on Wednesday. Argentina is pointed out by many experts as a country with great untapped mineral wealth, mainly... 

Test mine study under way for Fourth Industrial Revolution try-outs  

By: Martin Creamer     24th February 2021 A feasibility study is under way on a mine selected for the testing of Fourth Industrial Revolution (4IR) technologies ahead of their implementation, Minerals Council South Africa senior executive modernisation and safety Sietse van der Woude said on Wednesday. Van der Woude was answering... 

Test mine study under way for Fourth Industrial Revolution try-outs
Joburg Indaba Modernisation in Mining virtual event covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Merger to create new North American precious metals explorer

By: Creamer Media Reporter      24th February 2021 A new North America-focused precious metals exploration and development company is set to emerge from the combination of TSX-V-listed Silver Mountain Mines and private British Columbia company Nevgold. Nevgold holds the rights to acquire the Limousine Butte and Cedar Wash project, in Nevada,... 

Mexican president pressures Canadian miner in simmering tax dispute

By: Reuters     23rd February 2021 Mexican President Andres Manuel Lopez Obrador on Monday urged a Canadian mining company in the country to pay outstanding taxes, saying it was hiding behind the threat of international litigation to shirk its obligations. Questioned at a news conference about the tax burden on mining firms in... 

Mexican president pressures Canadian miner in simmering tax dispute
Andres Manuel Lopez Obrador

Having gold in your portfolio is a very solid insurance right now – Bristow 

By: Martin Creamer     18th February 2021 Having gold in your portfolio is a very solid insurance right now, as it always has been during global crises. That is the view of Barrick Gold president and CE Dr Mark Bristow, whose company on Thursday reported 91% higher fourth-quarter operating cash flow to $5.4-billion and annual free cash... 

Having gold in your portfolio is a very solid insurance right now – Bristow
Barrick Gold president and CE Dr Mark Bristow

Nagle expresses firm belief in Glencore’s coal-depleting climate change strategy 

By: Martin Creamer     16th February 2021 Firm belief in the climate change strategy being embarked upon by diversified mining and marketing company Glencore was expressed on Tuesday by incoming Glencore CEO Gary Nagle, Outgoing Glencore CEO Ivan Glasenberg announced in December that he would be handing over the reins of the global... 

Nagle expresses firm belief in Glencore’s coal-depleting climate change strategy
Gary Nagle

Alicanto takes more ground in Sweden

By: Esmarie Iannucci     15th February 2021 ASX-listed Alicanto Minerals has secured tenure over the historic Sala silver mine, in Sweden. The project, which was once Europe’s largest silver producer, is some 100-km from Alicanto’s existing Greater Falun copper/gold project. Sala ceased production in 1962, having produced more than... 

Silver Mines raises A$30m for Bowdens

By: Esmarie Iannucci     15th February 2021 ASX-listed Silver Mines has raised A$30-million in a share placement to institutional, sophisticated and professional investors, to progress the development of its Bowdens silver project, in New South Wales. Silver Mines on Monday said that it would place more than 136.36-million shares, at a... 

Silver will outshine gold as demand hits 8-year high in 2021 - Silver Institute

By: Reuters     12th February 2021 Global demand for silver will rise to 1.025-billion ounces in 2021, its highest in eight years, as investors and industry ramp up purchases, the Silver Institute said this week, predicting that prices would rise. The coronavirus outbreak triggered a rush among investors to stockpile silver,... 

Silver will outshine gold as demand hits 8-year high in 2021 - Silver Institute

Gold Fields ups stake in Peru explorer

By: Mariaan Webb     12th February 2021 Bullion major Gold Fields has invested another C$2.9-million in a Canadian company, which owns copper/gold/silver exploration assets in the Peruvian Andes. Through its Gold Fields Nazca Holdings (GFNH) indirect subsidiary, Gold Fields purchased 5.81-million common shares in TSX-V-listed Chakana... 

Horizon strikes out on its own at Nimbus

By: Esmarie Iannucci     11th February 2021 Gold developer Horizon Minerals has taken the decision to advance its Nimbus silver/zinc project, in Western Australia, following a strategic review. The company told shareholders that while several acquisition and earn-in proposals had been received and carefully considered for the Nimbus... 

Sprott invests in Goliath

By: Mariaan Webb     11th February 2021 TSX-V-listed Goliath Resources has announced a strategic investment by Eric Sprott of C$2-million, representing an 8.5% stake in the company. Crescat Capital will be participating in this offering to maintain its 9.9% interest. 

Platinum group metals outlook: constrained supply, very strong demand growth – WPIC  

By: Martin Creamer     8th February 2021 The outlook for platinum group metals (PGMs) is one of constrained supply and very strong demand growth. “You’ve got the entire PGMs suite that is short and that certainly will translate into tight markets,” World Platinum Investment Council (WPIC) Director of Research Trevor Raymond told Mining... 

Platinum group metals outlook: constrained supply, very strong demand growth – WPIC
World Platinum Investment Council Director of Research Trevor Raymond interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

LBMA says silver to be 2021’s top performer

By: Simone Liedtke     5th February 2021 The London Bullion Market Association (LBMA) has identified silver as the top performer among metals this year, considering that the commodity has garnered increased attention from investors over the past few days. The precious metal was up 20% in just three days, before correcting lower with a... 

Silvercorp plans listing for newly acquired Mexico project

By: Mariaan Webb     5th February 2021 Canada’s Silvercorp has announced the acquisition of the La Yesca silver project, in Mexico, and says it plans to list its New Infini subsidiary as an independent public company. New Infini has acquired a 100% interest in Infini for $9.25-million in cash and a 45% interest in New Infini shares... 

Beaty retires from Pan American Silver

By: Creamer Media Reporter      4th February 2021 Precious metals miner Pan American Silver on Wednesday announced that founder Ross Beaty would retire as chairperson and director in May, after 27 years in the seat. Beaty founded Pan American Silver in 1994 and has served as chairperson since then. He also was CEO of the company from its... 

Beaty retires from Pan American Silver
Ross Beaty

SilverCrest approves Las Chispas construction

By: Mariaan Webb     3rd February 2021 Vancouver-headquartered SilverCrest Metals on Tuesday announced the results of a feasibility study for its Las Chispas project, in Sonora, Mexico, and formally approved construction of the $137.7-million project. With engineering, procurement and construction contract and underground development... 

Silver finds calmer tone after posting biggest drop since August

By: Bloomberg     3rd February 2021 Silver climbed after posting the biggest loss since August, with markets calming following the buying frenzy that sent prices to an eight-year high earlier this week. Futures for March delivery rose 2% to $26.93/oz on the Comex at 7:50 a.m. in Singapore. Prices tumbled 10% on Tuesday after CME... 

Canadian silver miner's Reddit-fuelled surge sets up stock-sale bonanza

By: Bloomberg     2nd February 2021 A small Canadian silver miner is finding itself on the bright side of Reddit-induced market chaos just as it seeks to sell stock. Avino Silver & Gold Mines rose as much as 129% in New York as trading volumes surged after the 53-year-old company was lifted in the whirlwind of the so-called Reddit... 

Canadian silver miner's Reddit-fuelled surge sets up stock-sale bonanza

Lassonde ups stake in Prime Mining

By: Creamer Media Reporter      2nd February 2021 Investor Pierre Lassonde has increased his stake in Vancouver-headquartered Prime Mining, which is advancing the past-producing Los Reyes gold and silver project in Mexico. Lassonde recently bought two-million shares of Prime through the facilities of the TSX-V, which increased his direct holding... 

Mexican tax authorities to seek over $500m from First Majestic

By: Reuters     2nd February 2021 Mexico’s government plans to seek more than $500-million from Canadian miner First Majestic Silver in what it says are owed taxes for artificially keeping its silver prices low over the past decade, two sources told Reuters. Audits dating back to 2010 show that the company owes about 11-billion... 

Mexican tax authorities to seek over $500m from First Majestic

Hedge funds bet rally in Canadian silver-mining stocks to run out of steam

By: Reuters     2nd February 2021 Hedge funds have raised their bets against Canadian silver-mining stocks, January short-selling data from a market regulator showed, while the miners' shares and silver itself rose sharply due to buying by retail investors. A social media-driven buying spree lifted silver to an eight-year high... 

Hedge funds bet rally in Canadian silver-mining stocks to run out of steam

Silver dealers scramble to find supplies for retail buyers

By: Reuters     2nd February 2021 A retail investment frenzy in silver driven by social media has left dealers from the United States to Singapore scrambling for bars and coins to meet demand. Silver prices extended their rally on Monday to an eight-year high as small investors answered calls on social media last week to buy the... 

Silver dealers scramble to find supplies for retail buyers

‘We need exploration to grow our industry’ – Minerals Council  

By: Martin Creamer     1st February 2021 “We need exploration to grow our industry,” Minerals Council South Africa president Mxolisi Mgojo said on Monday during a virtual State of the Mining Nation media briefing in which he described exploration as one of the low-hanging fruits that could change South Africa’s economic trajectory in... 

‘We need exploration to grow our industry’ – Minerals Council
Minerals Council South Africa media brief reporting by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Canada Silver Cobalt hits more high grades

By: Creamer Media Reporter      1st February 2021 TSX-V-listed Canada Silver Cobalt on Friday announced the discovery of high-grade silver at its flagship Castle property, near the town of Cobalt, in Ontario. Canada Silver said it received assays from hole CS-20-39 at 9 853 g/t silver, or 2 621 ounces a ton, over 0.3 m from 557.46 m to 55.76... 

Silver spikes as retail investors swarm their biggest target yet

By: Bloomberg     1st February 2021 Silver took center stage in the retail investor frenzy sweeping through markets, sending the precious metal to a five-month high and fueling a debate over the power of Reddit-inspired speculators to take on ever-bigger targets. The most-active silver futures on the Comex jumped as much as 8.7%... 

Silver spikes as retail investors swarm their biggest target yet

Silver seizes the spotlight following Reddit day-trader frenzy

By: Bloomberg     29th January 2021 A silver frenzy calmed on Friday as investors weigh whether a push by Reddit posters to create a short squeeze has legs. The entire market -- from miners’ shares to exchange-traded funds and even the physical metal -- has emerged as one of the latest targets of the r/wallstreetbets board now... 

Silver seizes the spotlight following Reddit day-trader frenzy

Botswana copper development on track

By: Darren Parker     29th January 2021 Despite some Covid-19 setbacks, the development of the 3.65-million-tonnes-a-year Khoemacau copper/silver project, in north-west Botswana, is progressing well, Khoemacau Copper Mining CEO Johan Ferreira tells Mining Weekly. In the first quarter of 2020, fourteen months after the launch of the... 

Botswana copper development on track
JOHAN FERREIRA The impact of Covid-19 will lead to a modest delay in the completion of the refurbishment and upgrade of the Boseto processing plant

First Majestic gets break in opening round of Mexico tax case

By: Bloomberg     28th January 2021 First Majestic Silver won a reprieve on criminal tax fraud charges in initial Mexican court hearings for a case that will test the strength of the country’s crackdown on tax evasion, according to people familiar with the matter. A judge in Mexico City declined to charge the Canadian mining... 

First Majestic gets break in opening round of Mexico tax case

Yamana hoped for slightly higher production in 2020

By: Mariaan Webb     26th January 2021 Canadian gold miner Yamana produced 901 155 gold-equivalent ounces (GEOs) in 2020, which, although exceeding the group’s original guidance of 890 000 GEOs, was below the set point of the revised guidance of 915 000 GEOs. The slightly lower-than-hoped-for production, although still within the... 

Yamana hoped for slightly higher production in 2020
Yamana president and CEO Daniel Racine

Nagorno Karabakh ceasefire opens region for Anglo Asian to possibly return to projects

By: Donna Slater     21st January 2021 Aim-listed central Asia gold, copper and silver producer Anglo Asian Mining welcomes the agreement between Armenia, Azerbaijan and Russia which has ended the military conflict over the enclave of Nagorno Karabakh, subsequently opening up the region for the miner to restore its three contract... 

First Majestic lifts fourth-quarter silver output, exceeds 2020 guidance

By: Donna Slater     21st January 2021 First Majestic Silver, with three producing projects in Mexico, produced 5.5-million silver-equivalent ounces (SEO) in the fourth quarter of 2020, representing a 5% increase over the prior quarter. Silver production reached 3.5-million ounces, representing a 9% increase over the prior quarter... 

Aggreko to implement hybrid power solution for Gold Field’s Salares Norte in Chile

By: Tasneem Bulbulia     20th January 2021 Mobile and modular power solutions provider Aggreko has signed a ten-year contract with global miner Gold Fields to provide a 25.9 MW hybrid solar and thermal power solution for the Salares Norte openpit gold/silver mine, in Chile. This solution has been designed to provide power for the entire... 

Relief Canyon to reach full production by May 2021

By: Simone Liedtke     20th January 2021 TSX-listed Americas Gold and Silver Corporation’s Relief Canyon mine, in the US, will ramp up to full production in the second quarter of this year, after having achieved commercial production earlier this month. Based on a July 2018 feasibility study, the company anticipates production of about... 

Relief Canyon to reach full production by May 2021
A photo of the stacker at Relief Canyon.

Nevada's Cove project has 102 000 oz/y potential, says Premier

By: Mariaan Webb     19th January 2021 The Cove project, at the McCoy-Cove property in Nevada, US, will produce an average of 102 000 oz/y over its eight-year mine life, Ontario-based Premier Gold Mines said on Monday. The project will be one of the cornerstone assets of the soon-to-be-spun-out i-80 Gold, which will focus on gold... 

Nevada's Cove project has 102 000 oz/y potential, says Premier

Want a fuel cell, you need platinum – analysts 

By: Martin Creamer     18th January 2021 If you want a fuel cell, you need platinum, is one of the multiplicity of points Bernstein investment company makes in a major work just released, which shows growing and ongoing demand for platinum group metals (PGMs) and provides ample reason why metals and mining matter more than ever. In the... 

Want a fuel cell, you need platinum – analysts
Photo by Bernstein
Predicted future PGM tons heading high.

Nornickel fund launches first Blockchain-tracked precious metal ETCs

By: Reuters     18th January 2021 A fund of Russia's Norilsk Nickel has launched Blockchain-tracked securities known as Exchange Traded Commodities (ETCs) which offer investors exposure to the spot prices of palladium, platinum, gold and silver without owning them. Nornickel, the world's largest producer of palladium, hopes to... 

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