R/€ = 17.00 Change: 0.04
R/$ = 16.25 Change: 0.04
Au 1806.89 $/oz Change: 11.95
Pt 887.10 $/oz Change: -2.90

Silver News

Mexico project has potential to be group's biggest new mine – Hochschild

By: Liezel Hill     5th June 2008 LSE-listed silver producer Hochschild Mining has bought its partner's stake in the San Felipe project, in Mexico, for $51,5-million, the company announced on Wednesday. The project, which is currently the subject of a feasibility study, “has the potential to be our largest and most... 

Silver Wheaton to buy half the silver produced at Aurcana's Mexico mine

3rd June 2008 Silver reseller Silver Wheaton has agreed to buy 50% of the silver produced at the La Negra mine, in Mexico, the company said on Tuesday. Vancouver-based junior Aurcana owns 80% of the mine, which was originally developed and operated for 30 years by Mexican resources group Penoles. 

Kinross produces first metal at new Russian mine

By: Liezel Hill     30th May 2008 Canadian gold-miner Kinross Gold has produced the first gold and silver from its Kupol project in Russia, the company announced on Friday. Kupol is the first of three development projects that Kinross plans to bring on line this year. 

Farallon, Silver Wheaton finalise silver purchase agreement

By: Liezel Hill     26th May 2008 TSX-listed Farallon Resources and silver reseller Silver Wheaton have finalised an agreement announced earlier this month, according to which Silver Wheator will make staged payments totalling $80-million to Farallon, for the right to buy 75% of the silver produced at its Campo Morado project, in... 

Intrepid completes debt repayment ahead of schedule

By: Liezel Hill     22nd May 2008 TSX- and ASX-listed Intrepid Mines has repayed its project finance loan to Australian bank Westpac six months ahead of schedule, the firm said on Thursday. Intrepid, which merged earlier this year with former DRDGold subsidiary Emperor Mines, produces gold from the Paulsens operation, in Western... 

Mexico's biggest new gold mine may get even bigger  

By: Liezel Hill     21st May 2008 Canadian gold-miner Goldcorp, which will own and operate the three biggest gold mines in Mexico by 2010, is studying a number of optimisation possibilities for the third, and largest, of the three - its $1,5-billion Penasquito project. The company expects to have some answers on the viability of... 

Nevsun expects first production in 2010 from Eritrea gold mine 

By: Liezel Hill     15th May 2008 Vancouver-based Nevsun Resources is making progress at its Bisha project, in Eritrea, with first output expected in 2010, the company reported on Thursday. The project is now expected to cost $246-million, and produce an average of 431 000 oz of gold and 702 000 oz of silver a year in the first... 

Tomsett named chairperson of Silver Standard

By: Liezel Hill     15th May 2008 Vancouver-based Silver Standard Resources has appointed former Placer Dome president and CEO Peter Tomsett as the chairperson of its board of directors, the company said on Thursday.  

Pan American Silver announces senior management changes

By: Liezel Hill     14th May 2008 Vancouver-based Pan American Silver has appointed project development VP Steven Busby to the position of COO, effective immediately, the company announced on Wednesday.  

Silver Standard hikes reserves 43% at Argentina project

By: Liezel Hill     14th May 2008 Vancouver-based Silver Standard Resources has increased the proven and probable silver reserves at its Pirquitas project, in northwestern Argentina, by 43%, to 195,1-million ounces, the firm said on Wednesday.  

Silver Wheaton announces silver purchase agreement on Mexico property

By: Liezel Hill     13th May 2008 Silver reseller Silver Wheaton has made good on its promises to announce more acquisitions this year, announcing on Tuesday that it will buy 75% of the life-of-mine-silver produced by TSX-listed Farallon Resources, at its Campo Morado property, in Mexico.  

Coeur starts up world's biggest pure silver mine

By: Liezel Hill     12th May 2008 Precious-metals miner Coeur d'Alene Mines has begun introducing ore to the mill at its San Bartolome mine, in Bolivia, and expects to produce 6-million ounces of silver from the mine this year, chairperson, president and CEO Dennis Wheeler said on Monday. The mine, which will produce... 

DRC project costs rise almost 50% - Anvil

By: Liezel Hill     12th May 2008 TSX- and ASX-listed Anvil Mining now expects its Kinsevere Stage II project, in the Democratic Republic of Congo (DRC) to cost $380-million, $123-million higher than construction cost projections in a feasibility study on the project. Cost estimates had been pushed upwards after the company... 

Higher silver prices fail to put a dent in demand

By: Liezel Hill     7th May 2008 Industrial demand for silver rose for the sixth year in a row, and jewellery fabrication slipped by only 2% last year, as high and volatile prices for the metal failed to deter buyers, according to an industry report published on Wednesday. In their World Silver Survey 2008, launched in New York,... 

Gold near one-week high on oil, ETF holdings up

By: Reuters     7th May 2008 Gold held steady on Wednesday, hovering near a one-week high hit the previous day, after crude oil powered to another record and spurred buying of the precious metal by investors seeking to hedge against inflation. An increase in gold holdings in the world's largest exchange-traded fund... 

Coeur restarts Chile mine ahead of schedule

By: Liezel Hill     5th May 2008 Precious metals-miner Coeur d'Alene Mines has resumed operations earlier than expected at its Cerro Bayo silver/gold mine, in southern Chile, after production was halted for upgrades to the mine's electrical infrastructure. The company began implementing a recovery plan earlier this... 

Silver Wheaton to buy 45% of silver produced at Augusta's Rosemont mine

By: Liezel Hill     30th April 2008 Vancouver-based Augusta Resource Corp has decided it will sell 45% of the payable silver to be produced at its Rosemont copper mine to reseller Silver Wheaton, for an upfront cash payment of $165-million. The upfront payment will be made on a drawdown basis to fund construction of the mine... 

Silver Wheaton chief sees $30/oz silver in 'next couple of years'

By: Liezel Hill     29th April 2008 Vancouver-based silver reseller Silver Wheaton's president and CEO, Peter Barnes, expects the spot price for the precious metal will continue to rise, in the medium term, underpinned by both physical and investment demand, he said on Tuesday. “My view is that silver is going through... 

Silver Wheaton Q1 profit rises despite lower sales

By: Liezel Hill     28th April 2008 Vancouver-based silver reseller Silver Wheaton increased first-quarter net earnings to $27,9-million, from $24,9-million a year ago, as higher silver prices more than offset lower sales, the company said on Monday evening. However, the firm sold 2,8-million ounces of silver during the quarter,... 

Griffin Mining plans to buy Yukon Zinc

By: Liezel Hill     22nd April 2008 LSE-listed Griffin Mining has agreed to buy Canadian base-metals junior Yukon Zinc in an all-share transaction, the two companies announced on Tuesday. 

Silver-miner Hochschild lifts output, targets 50m oz/y by 2011 

By: Liezel Hill     16th April 2008 Peruvian silver producer Hochschild Mining increased its production to 5,8-million attributable silver-equivalent ounces in the first quarter of 2008, an increase of 12% on the same period last year. “We are on track to create the operational platform that will enable us to deliver our 2011... 

Mexican silver giant plans London IPO

By: Liezel Hill     11th April 2008 The world's biggest primary silver producer, Mexico's Fresnillo, which plans to list on the London Stock Exchange next month, will raise at least $900-million in an initial public offering, the firm said on Friday. The Fresnillo Group, the company's operating subsidiary, produced... 

Gold keeps gains after surge but IMF plan weighs

By: Reuters     10th April 2008 Gold maintained its strength on Thursday after surging more than 2 percent a day earlier as record high crude oil prices and the dollar's weakness prompted buying by investment funds. Firmness in Japanese gold futures prices gave support to cash gold, but traders were reluctant to chase... 

Sunridge commissions scoping study for Eritrea project

By: Liezel Hill     8th April 2008 Vancouver-based Sunridge Gold has appointed Wardrop Engineering to complete a scoping study for its Emba Derho zinc/copper/gold/silver project, in Eritrea, the firm said on Tuesday.  

Coeur shuts Chile mine for electrical upgrade

By: Liezel Hill     8th April 2008 Precious-metals miner Coeur d'Alene Mines will close its Cerro Bayo silver/gold mine, in southern Chile, for about six weeks, in order to upgrade the operation's electrical infrastructure, the firm said on Tuesday. The company began implementing a recovery plan earlier this year at... 

Endeavour Silver expects costs to fall as upgrades, expansions pay off

By: Liezel Hill     7th April 2008 Precious-metals miner Endeavour Silver, whose record output and revenues in 2007 were overshadowed by high operating costs, will focus on improving operational efficiencies this year, while continuing to search for new resources at its Mexican projects. While the firm more than doubled revenue,... 

Silver Wheaton reserves more than tripled last year

By: Liezel Hill     3rd April 2008 Vancouver-based silver reseller Silver Wheaton increased its proven and probably silver reserves by 239% year-on-year in 2007, to 364,4-million on December 31, the company said on Thursday. 

Aurcana snags near-production Texas silver mine

By: Liezel Hill     3rd April 2008 Vancouver-based junior miner Aurcana has agreed to buy the historic Shafter silver mine, in south-west Texas, from Silver Standard Resources, the firm announced on Thursday. The Shafter mine produced silver from 1883 to 1942, and most of the necessary infrastructure remains place, including a... 

Gammon Gold lifts output forecast, sees lower costs

31st March 2008 Halifax-based Gammon Gold expects to produce between 245 000 and 275 000 gold-equivalent ounces (which include silver production) in 2008, compared with output of 218 734 oz in 2007.  

Endeavour Silver CFO steps down

By: Liezel Hill     19th March 2008 Vancouver-based precious-metals miner Endeavour Silver has appointed Dan Dickson as its interim CFO, after incumbent Bill Franklin stepped down, effective March 31, because of health reasons. 

Strong Canadian dollar, rising costs bite into HudBay earnings

By: Liezel Hill     18th March 2008 Canadian miner HudBay Minerals reported net earnings of C$227,1-million for 2007, compared with C$564-million a year ago, after increased production and higher metals prices failed to offset the effects of a surging Canadian dollar and higher operating costs. The company also attributed the... 

Silver Wheaton agrees to buy silver from Mercator's Arizona mine

By: Liezel Hill     17th March 2008 Vancouver-based silver reseller Silver Wheaton has signed an agreement to buy the entire silver production from Mercator Minerals' Mineral Park copper/molybdenum/silver mine, in Arizona. Silver Wheaton will pay Mercator $42-million in cash up front for the rights to the life-of-mine silver... 

Coeur d'Alene Mines to raise up to $172,5m to build mines

By: Liezel Hill     12th March 2008 Precious-metals miner Coeur d’Alene Mines plans to offer as much as $172,5-million in convertible senior unsecured notes, and will use the proceeds to fund the construction of new mines, the company said on Wednesday. 

Silver Standard eyes maiden start-up later this year

By: Liezel Hill     10th March 2008 Vancouver-based Silver Standard Resources spent C$92,4-million in 2007 on its various Latin American projects, bringing it significantly closer to producer status, the company said on Monday. The company's most advanced project, the Pirquitas mine, in Argentina, is scheduled to begin... 

Rio Tinto agrees to sell share in Peru property

By: Liezel Hill     10th March 2008 Diversified miner Rio Tinto has agreed to sell its 30% interest in a silver prospect in Peru to Vancouver-based Bear Creek Mining for $75-million in cash and shares, the company said on Friday. 

Lundin reviews asset portfolio as new chief takes stock

By: Liezel Hill     28th February 2008 Base metals miner Lundin Mining is taking a close look at all its operations and investments, with a view to managing assets more actively and improving the quality of its portfolio, new CEO Phil Wright said on Thursday. Wright replaced former chief Karl-Axel Waplan in January. 

Barrick, Goldcorp submit study for $2,7bn Dominican Republic gold mine

By: Liezel Hill     27th February 2008 Canadian gold majors Barrick Gold and Goldcorp have submitted a feasibility study for their $2,7-billion Pueblo Viejo project to the government of the Dominican Republic, the firms announced on Wednesday. Barrick, the world's largest producer of the yellow metal, owns 60% of the project,... 

Silver Wheaton earnings jump, sees further growth on new contracts

By: Liezel Hill     25th February 2008 Vancouver-based silver reseller Silver Wheaton increased full-year net earnings to a record $91,9-million in 2007, compared with $85,2-million a year ago, and expects silver sales to almost double, to 25-million ounces by 2010, the company said on Monday. Silver Wheaton buys silver from... 

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