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Silver News

Mitsubishi unpacks movement of PGM markets amid lockdowns

By: Marleny Arnoldi     27th March 2020 Mitsubishi Corporation International (MCI) says in its latest precious metals update that it expects South Africa’s platinum supply to reduce by around 7%, or by between 200 000 oz and 300 000 oz, in light of closed operations during South Africa’s 21-day national lockdown. The announcement by... 

Orex and Pan American Silver form JV to develop Mexico project

By: Tasneem Bulbulia     27th March 2020 Canada-based junior exploration company Orex Minerals has entered into an agreement to form a joint venture (JV) with TSX-listed Pan American Silver, through its subsidiary Plata Panamericana (Pan American), to further explore and develop the Sandra project, formerly the Sandra-Escobar project,... 

McEwen Mining scales back at Black Fox and Gold Bar

By: Tasneem Bulbulia     26th March 2020 Diversified gold and silver producer McEwen Mining will scale down both the Black Fox mine in Canada, and the Gold Bar mine, in the US, from March 26 for a period of 14 days to try to prevent the spread of Covid-19.  Certain production and exploration activities will continue at Gold Bar in areas... 

Maya improves daily production capacity by 40%

By: Marleny Arnoldi     26th March 2020 TSX-listed Maya Gold & Silver has expanded production capacity at its Zgounder silver mine, in Morocco. The company has all the necessary elements and infrastructure in place to process 700 t/d, which is a 40% increase on the prior production capacity of 500 t/d.  

Imperial narrows loss to $40m

By: Marleny Arnoldi     26th March 2020 TSX-listed Imperial Metals in the year ended December 31, managed to narrow its net loss from continuing operations to $40.2-million from the $109-million loss reported in the year ended December 31, 2018. This amounted to a loss a share of $0.32 apiece in 2019, compared with a loss a share of... 

Imperial narrows loss to $40m
Imperial Metals' Huckleberry mine, in British Columbia

New gold futures contract launched – LBMA 

By: Martin Creamer     26th March 2020 A new gold futures contract just launched has expanded delivery options, London Bullion Market Association (LBMA) said on Thursday. The membership of LBMA, a gold and silver trade association, is made up of banks, traders and logistics companies across the world, resulting in it being given... 

New gold futures contract launched – LBMA
Photo by Creamer Media
LBMA executive board director Sakhila Mirza.

Operations resume at Fortuna’s San José mine

By: Simone Liedtke     26th March 2020 The illegal blockade of roads in the San José del Progreso municipality, which prevented access to NYSE- and TSX-listed Fortuna Silver Mines’ San José mine, in Mexico, has been lifted. Operations resumed on March 25 and started with the night shift. 

Beowulf, Vardar invest further in Kosovo soil sampling programme

By: Marleny Arnoldi     25th March 2020 Aim-listed Beowulf has provided investment alongside founders and existing shareholders in Vardar Minerals to fund a soil sampling programme across the Madjan Peak gold target, at Vardar’s Mitrovica licence, in Kosovo. Beowulf is investing £30 000, while Vardar shareholders are investing £40... 

Dolly Varden bolsters technical, investor relations functions

By: Marleny Arnoldi     23rd March 2020 TSX-listed Dolly Varden Silver Corporation has retained a new team of experienced technical mining professionals to focus on growing and advancing the company’s silver-prospective properties in British Columbia. The team includes professional engineer Ryan Weymark, exploration geologist Jodie... 

Endeavour Silver says updated Terronera PFS disappoints

By: Mariaan Webb     18th March 2020 An updated prefeasibility study (PFS) for the Terronera silver/gold mine, in Mexico, has returned less robust economics than a prior study, prompting the Vancouver-based company to initiate an internal review of the PFS before proceeding to a full independent feasibility study. Endeavour Silver... 

Newmont, Freeport and others shut Peru mines to comply with 15-day national quarantine

By: Mariaan Webb     17th March 2020 Major mining companies operating in Peru, including Newmont, Freeport-McMoRan and Anglo American, are ramping down operations to comply with the 15-days self-quarantine that President Martin Vizcarra announced on Sunday. The country, which at 13:00 local time on Monday had 89 confirmed cases of... 

Newmont, Freeport and others shut Peru mines to comply with 15-day national quarantine
Newmont's Yanacocha mine, in Peru.

Gold slumps and platinum falls by most ever amid hunt for cash 

By: Bloomberg     16th March 2020 Precious metals took another beating on concerns that a wave of emergency stimulus measures by central banks won’t be enough to improve a rapidly deteriorating economic outlook. Gold, coming off the biggest weekly drop in almost four decades, extended losses below $1 500/oz as market sentiment... 

Gold slumps and platinum falls by most ever amid hunt for cash

Shipment delays out of China not affecting Vast’s Romania project

By: Creamer Media Reporter      10th March 2020 Aim-listed mining company Vast Resources on Tuesday confirmed that its initial shipment of equipment for the Baita Plai mine was not affected by shipment restrictions in China and that it would depart next week. The first shipment is currently being loaded and will depart for Romania on March... 

Shipment delays out of China not affecting Vast’s Romania project

SilverCrest expands high-grade silver/gold mineralisation at Las Chispas

By: Creamer Media Reporter      10th March 2020 Recently completed drilling at the Las Chispas project, in Sonara, Mexico, has doubled the size of the Babi Vista vein, Vancouver-headquartered SilverCrest Metals announced on Monday. The in-fill and expansion drill results for Babi Vista show higher-grade vein mineralisation to depth, including... 

Land Court sides with Moreton in Texas tussle

By: Esmarie Iannucci     6th March 2020 The Queensland Land Court this week ruled in favour of diversified junior Moreton Resources and its subsidiary MRV Metals, finding that the company was not liable for previous pre-existing environmental harm at the Texas silver project. Moreton and the Department of Environment and Science will... 

Bear Creek Mining engages lead arrangers for $400m facility

By: Creamer Media Reporter      3rd March 2020 Vancouver-headquartered Bear Creek Mining has engaged BNP Paribas and Société Générale as joint lead arrangers for a $400-million senior secured credit facility, which it plans to use for the fully permitted, Corani silver/lead/zinc project in Peru. “The BNP Paribas and Société Générale mining... 

Fresnillo profit misses on weak output, mine curtailment

By: Reuters     3rd March 2020 Precious metals miner Fresnillo posted a 63% slump in 2019 pretax profit on Tuesday, much worse than analysts' estimates, as low-grade ore hit production and it curtailed operations at its Noche Buena mine in Mexico. The company cut its production forecast four times last year, as it grapples... 

GR Silver buys Plomosas project from First Majestic

By: Creamer Media Reporter      2nd March 2020 TSX-V-listed GR Silver Mining on Monday announced that it would buy the past producing Plomosas project, in Mexico, from NYSE- and TSX-listed First Majestic Silver. The transaction consolidates ownership of advanced stage projects in the Rosario mining district into a single company, bolstering... 

Paramount kicks off final phase of Grassy Mountain permitting

By: Mariaan Webb     26th February 2020 NYSE American-listed Paramount Gold Nevada has submitted its plan of operation to the federal Bureau of Land Management (BLM), outlining its plans to build and operate the proposed Grassy Mountain underground gold mine, in Oregon. The project’s processing facilities and tailing storage would be... 

Fresnillo buys Naranjillo property in Mexico

By: Creamer Media Reporter      26th February 2020 TSX-V-listed Plata Latina says silver major Fresnillo has exercised its option to purchase its the Naranjillo property, in Mexico. The option stems from a 2017 agreement that provided Fresnillo subsidiary Metalúrgica Reyna with a three-year term in which to conduct exploration and exercise the... 

Precious metals bull Excellon buys Otis Gold

By: Mariaan Webb     24th February 2020 The share price of Vancouver-headquartered Otis Gold surged 28% on Monday, following the news that Toronto-listed Excellon Resources would buy the company. The combined business would combine Excellon’s Platosa high-grade silver mine, in Mexico, with Otis’ “high-return, low-risk” Kilgore... 

Precious metals bull Excellon buys Otis Gold
Drilling at the Kilgore project, in Idaho, US.

Fresnillo announces early underground start at Juanicipio

By: Creamer Media Reporter      24th February 2020 The start-up of the Juanicipio silver and gold underground mine, in Mexico, has been brought forward to mid-2020, London-listed Fresnillo announced on Monday. Underground production will now start ahead of schedule in June, at an additional cost of $45-million, the company said in a statement.... 

Hudbay prepares for next phase of growth

By: Mariaan Webb     24th February 2020 Dual-listed Hudbay Minerals is preparing for the next phase of growth, focusing on mining the high-grade Pampacancha satellite deposit, in Peru, and completing the refurbishment of the New Britannia gold mill, in Canada. Both projects, CEO Peter Kukielski says, require low capital intensity, but... 

New Orion- and Yamana-linked royalty company launched

By: Mariaan Webb     24th February 2020 Orion Resource Partners and Yamana Gold on Sunday announced the launch of a new precious metals royalty company, with assets in Africa, Australia, North America and South America. TSX-V-listed Guerrero Ventures will acquire royalty, stream and gold loan assets from Orion and Yamana for... 

Pan American hikes quarterly dividend 43%

By: Creamer Media Reporter      21st February 2020 Nasdaq- and TSX-listed Pan American Silver has had a strong 2019, during which it generated $282-million in operational cash flow, allowing for $60-million in debt to be retired, a shareholder payout of about $29-million, investment in new projects and an improved cash position. The miner... 

Coeur to reposition Silvertip, operations suspended

By: Mariaan Webb     21st February 2020 NYSE-listed precious metals miner Coeur has temporarily suspended operating activities at its Silvertip zinc/lead/silver mine, in British Columbia, Canada, as the mine struggles to generate positive cash flow amid deteriorating zinc and lead markets. Silvertip, which represents about 6% of... 

Coeur to reposition Silvertip, operations suspended

Ethical engagement rings that are truly eco-friendly, guilt-free

By: Bloomberg     20th February 2020 When Krish Himmatramka was working as an engineer in the oil industry, he would spend his spare time in his trailer in northern Louisiana scouring the Internet for the perfect engagement ring for his girlfriend. But he struggled to find one that was ethically and sustainably produced.  After... 

Silvercorp resumes operations at China mines

By: Creamer Media Reporter      19th February 2020 Dual-listed Silvercorp Metals has resumed mining operations at its Ying and CG mines, following an extended holiday period shutdown in line with the Chinese government’s efforts to contain the spread of the coronavirus. Silvercorp’s production was suspended on January 17 for the Chinese New Year... 

First gold pour at Americas' Relief Canyon

By: Mariaan Webb     19th February 2020 The Relief Canyon gold mine, in Nevada, has successfully poured its first gold and has now completed initial construction within its budget of $28-million to $30-million, TSX- and NYSE American-listed Americas Gold and Silver reported on Tuesday. The first gold pour was achieved in nine months... 

Gold tops $1 600 as virus fuels growth fears

By: Bloomberg     19th February 2020 Gold traded near the highest level since 2013 on concerns over the spread of the new coronavirus and how it’s impacting global growth. Palladium topped $2 700/oz as it continued its record-breaking rally. Bullion steadied after surging 1.3% Tuesday’s as Apple’s warning that the virus and efforts... 

Hudbay to start mining at Pampacancha in late 2020

By: Mariaan Webb     19th February 2020 The community of Chilloroya has formally approved a surface rights agreement with TSX- and NYSE-listed miner Hudbay for the Pampacancha satellite deposit, located near the Constancia mine, in Peru, paving the way for mining to commence from the deposit in late 2020. Announcing the agreement,... 

Hudbay to start mining at Pampacancha in late 2020
Hudbay president and CEO Peter Kukielski

Silver Institute says price will bounce back this year

By: Creamer Media Reporter      17th February 2020 Silver is expected to shine this year, on the back of a positive spill-over from gains in gold, with the yellow metal continuing to benefit from macroeconomic and geopolitical uncertainties across critical economies. Washington-based Silver Institute is forecasting a silver price gain of 13% to... 

Silver Institute says price will bounce back this year

Angola seeks to make itself a more mining-friendly jurisdiction

By: Rebecca Campbell     14th February 2020 Angola will this year initiate a new governance system for the country’s mining industry, the country’s Mineral Resources and Petroleum Minister, Diamantino Azevedo, confirmed at the recent Investing in African Mining Indaba in Cape Town. The new system will include the new National Agency for... 

Silvercorp's third-quarter profits fall on foreign exchange loss, lower prices

By: Creamer Media Reporter      7th February 2020 Canadian miner Silvercorp, which produces silver, gold, lead and zinc from its mines in China, reported income attributable to equity shareholders of $6.3-million, or $0.04 a share for the quarter ended December 31 – the third quarter of its 2020 financial year. This was lower than income... 

Palladium, rhodium prospects strong

By: Cameron Mackay     7th February 2020 While palladium and rhodium prices increased last year and continue to do so this year, prices are expected to stabilise and decrease once political factors and tension in the global economy decline. Despite this, international commodities consultancy Core Consultants MD Lara Smith notes that the... 

Palladium, rhodium prospects strong
SUPPLY CONSTRAINTS The main local PGM supply risk comes from Eskom’s power supply shortages, and mine closures on the Bushveld Complex where shafts have reached their end-of-life

Blockade halts mining at Americas' Cosalá

By: Creamer Media Reporter      3rd February 2020 Precious metals producer Americas Gold and Silver has halted mining and processing operations at the Cosalá mine, in Mexico, after a group of individuals, including unionised workers, blocked access to facilities. The company, which trades on the TSX and NYSE American, said on Monday that it had... 

First Majestic hires former Barrick VP as COO

By: Creamer Media Reporter      3rd February 2020 Mining engineer Steve Holmes, a former vice-president (VP) of Barrick Gold’s joint venture portfolio, has joined NYSE- and TSX-listed First Majestic Silver as COO. In his new role, he will be responsible for overseeing the operational functions at First Majestic’s Mexican portfolio of silver... 

Endeavour Silver expects strong performance in 2020

By: Tasneem Bulbulia     3rd February 2020 Dual-listed Endeavour Silver is forecasting better performance from its operating mines in 2020, with a slight decrease in consolidated production owing to the suspension of mining at El Cubo. Operating costs at Guanacevi, Bolanitos and El Compas should decline through the year as productivity... 

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