R/€ = 16.20 Change: -0.17
R/$ = 14.49 Change: -0.11
Au 1283.50 $/oz Change: 10.40
Pt 799.67 $/oz Change: -9.73

South America News

Use remote machinery to mine at depth ­– Jourdan 

By: Martin Creamer     Updated 7 hours ago Independent consultant Dr Paul Jourdan on Thursday urged South Africa to cease sending people down dangerous deep-level mines and to come up with remote machinery to mine at depth. He was speaking at the Southern African Mining Supply Chain Conference and Strategy Workshop , which was hosted by... 

India to surpass China as largest importer of coking coal by 2025

By: Marleny Arnoldi     Updated 7 hours ago Fitch Solutions maintains its forecast for an average coking coal price of $195/t for this year, stating that prices will remain elevated, with strong demand from China’s steel sector, as US–China relations continue to deteriorate and the probability rises of further economic support from the... 

India to surpass China as largest importer of coking coal by 2025

SQM expects lithium demand to grow by 17% this year

By: Mariaan Webb     23rd May 2019 Chilean nitrates and lithium major Sociedad Quimaca y Minera de Chile (SQM) is confident that demand for lithium will continue to grow, but the group says that evolving electric vehicle (EV) battery technology will require producers to be flexible. The company believes more supply for lithium... 

SQM expects lithium demand to grow by 17% this year

Gold miners must focus on returns, mergers to attract investment - Barrick CEO

By: Reuters     22nd May 2019 Gold miners must focus on maximising returns and more mergers to attract investors seeking to diversify after years of under-investing in mines, Barrick Gold's chief executive said on Wednesday. "The industry is in decline and we have put ourselves in a very a tight spot because we haven't... 

Gold miners must focus on returns, mergers to attract investment  - Barrick CEO
Barrick Gold CEO Mark Bristow

Mining fatalities among ICMM member companies decrease again

By: Marleny Arnoldi     22nd May 2019 International Council on Mining and Metals (ICMM) member companies recorded 50 fatalities in 2018, compared with the 51 recorded in 2017 and the 63 recorded in 2016. Eleven of ICMM’s 27 member companies reported no fatalities in 2018, compared with eight in 2017. These companies were Africa... 

Mining fatalities among ICMM member companies decrease again

Jupiter Gold set to become cash flow positive

By: Tasneem Bulbulia     22nd May 2019 Gold royalty company Jupiter Gold on Wednesday reported that its first royalty project, the Pindaíba project, operated by Brazil Minerals, was expected to begin production in the third quarter of 2019. The company’s gold recovery plant would be used in operations and Jupiter Gold would receive a... 

BHP keen on more copper, nickel sulphide and oil

By: Esmarie Iannucci     22nd May 2019 Mining major BHP on Wednesday laid out its near-term plans for investors, saying that the company would look to add “options” in copper, nickel sulphides and oil. Speaking to investors, CFO Peter Beaven that BHP analysed a number of scenarios to ensure that the company’s portfolio was resilient... 

BHP keen on more copper, nickel sulphide and oil

Villagers in Peru decide to impose new road blockade on Las Bambas mine-ombudsman

By: Reuters     21st May 2019 The indigenous community of Fuerabamba in Peru decided to impose a new road blockade on MMG's Las Bambas copper mine after talks with the company over compensation broke down, a representative of the ombudsman's office said on Tuesday. The community planned to start the blockade at midnight on... 

Oil climbs as Opec signal on output curbs overshadows trade risk

By: Bloomberg     21st May 2019 Oil rose for a second day on signs Opec and its allies will extend production cuts beyond June, while a steadily deteriorating US-China trade relationship kept prices from pushing higher. Futures in New York extended their gains after closing up 0.5% on Monday. Saudi Energy Minister Khalid... 

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... 

Brazil iron-ore exports in rise in first half of May amid higher prices

By: Reuters     21st May 2019 Brazil's iron-ore exports rose sharply in the first half of May, data showed on Monday, recovering from a more than seven-year low in April, as higher prices encouraged sellers to close more deals internationally. Until May 17, Brazil exported 16.2-million tonnes, according to data from the... 

Vale's Gongo Soco mine dam has up to 15% chance of bursting -Brazil official

By: Reuters     21st May 2019 Brazilian miner Vale's tailings dam in the town of Barao de Cocais in Minas Gerais has up to a 15% chance of breaking, the state's environment secretary said on Monday. The dam at Vale's Gongo Soco mine is about 64 km from Brumadinho, where a tailings dam collapse unleashed a torrent of toxic... 

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

Researchers see manganese helping fuel cells down cost curve 

By: Martin Creamer     20th May 2019 A new manganese-containing material may contribute to platinum-using hydrogen fuel cells being driven down the cost curve. The new material, made from manganese hydride, is being earmarked for use in molecular sieves that work with the fuel cells in hydrogen fuelled systems that generate... 

Researchers see manganese helping fuel cells down cost curve
Hydrogen fuel cell cars use hydrogen and oxygen to generate electricity with the help of platinum.

Venezuela sells $570m from gold reserve despite sanctions

By: Bloomberg     20th May 2019 Venezuela sold about $570-million in gold from central bank reserves over the past two weeks, skirting US Treasury sanctions designed to freeze assets of the Nicolas Maduro’s administration, according to people with knowledge of the matter. The central bank sold about 9.7 t of gold on May 10 and... 

Sibanye, Lonmin merger enters final stretch as AMCU appeal is dismissed 

By: Marleny Arnoldi     17th May 2019 The Competition Appeal Court of South Africa (CACSA) on Friday gave the green light for JSE- and NYSE-listed Sibanye-Stillwater’s proposed takeover of LSE- and JSE-listed Lonmin, dismissing an appeal filed by the Association of Mineworkers and Construction Union. CACSA upheld the Competition... 

Sibanye, Lonmin merger enters final stretch as AMCU appeal is dismissed
Photo by Creamer Media
Sibanye CEO Neal Froneman and Lonmin CEO Ben Magara

Vale warns Brazil prosecutors another dam at risk of collapse

By: Reuters     17th May 2019 Brazilian iron ore miner Vale SA told prosecutors in the state of Minas Gerais that a dam is at risk of rupturing at its Gongo Soco mine, about 40 miles from where its Brumadinho dam collapsed, killing more than 230 people. According to a document published on Thursday, prosecutors said Vale is... 

KGHM may beat production goal at Sierra Gorda

By: Reuters     16th May 2019 Polish mining company KGHM may produce more copper than planned at its Sierra Gorda mine in Chile in 2019, while keeping capital expenditure (capex) below target, its deputy chief executive in charge of foreign assets said on Thursday. "We see a chance to limit capex at Sierra Gorda while... 

Azure regains full ownership of Alacrán from Teck

By: Esmarie Iannucci     16th May 2019 ASX-listed Azure Minerals has struck a deal with Canada’s Teck Resources to consolidate ownership of the Alacrán silver/gold/copper project, in Mexico. Azure in 2016 gained full ownership of the Alacrán project from Teck under a 2014 agreement that required the company to sole fund $5-million of... 

Lithium Americas names new CEO, quarterly loss shrinks

By: Reuters     15th May 2019 Lithium Americas, which is developing lithium projects in Argentina and Nevada, said on Wednesday that its quarterly loss shrank as costs fell and sales rose, and that its CEO would retire. The company is one of a handful of junior miners around the world working to develop mines for lithium, a... 

Codelco strikes labour deal with supervisors at Salvador mine

By: Reuters     15th May 2019 State miner Codelco, the world's top copper producer, said on Wednesday that it had agreed on a new labour contract with the union of supervisors at its small Salvador mine in northern Chile. The union and company had entered into a government mediated negotiation earlier this month after... 

Trump administration opens up Minnesota wilderness area to copper mining

By: Reuters     15th May 2019 The US Interior Department on Wednesday renewed two mineral leases near the Boundary Waters Wilderness area in Minnesota, a key step in opening the popular wilderness and recreation area up to copper mining despite heavy opposition from local and national conservation groups. The department's... 

Trump administration opens up Minnesota wilderness area to copper mining

Troy targeting growth at Karouni

By: Esmarie Iannucci     15th May 2019 Junior gold miner Troy Resources will continue to target growth opportunities at its Karouni gold project, in Guyana, with the miner hoping to extend its project holding through acquisitions or joint ventures. Speaking on the sidelines of the Paydirt Latin America Downunder conference, in... 

Trade war spurs 'change in attitude' on gold for spooked markets

By: Bloomberg     15th May 2019 Donald Trump’s tweets are keeping global financial markets on edge, and many investors are opting for gold as a refuge. Gold open interest, a tally of outstanding futures contracts, surged the most since mid-2016 on Monday to the highest in more than seven weeks. Prices of the metal have advanced... 

Trade war spurs 'change in attitude' on gold for spooked markets

Vale says may expand Carajas Serra Sul mine, doubling output

By: Reuters     14th May 2019 Brazilian miner Valesaid on Tuesday it is considering doubling the output of its Carajas Serra Sul iron-ore mine in the northern part of the country after 2020, saying the move would allow it to cut the use of tailings dams. One such dam, used to store the muddy, toxic mining debris, collapsed... 

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.

Equinox pours first gold at Brazil mine

By: Mariaan Webb     14th May 2019 Vancouver-headquartered Equinox Gold has hit the first gold pour milestone at its Aurizona gold mine, in Brazil, the company announced on Tuesday. The milestone was achieved with no lost-time injuries. 

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... 

Caledonia’s lower first-quarter production offset by FX gains, disposal

By: Marleny Arnoldi     14th May 2019 Gold miner Caledonia Mining, which owns 49% of the Blanket mine, in Zimbabwe, produced 11 948 oz of gold in the quarter ended March 31, an 8% year-on-year decrease as a result of lower grades but in line with expectations. Its consolidated operating profit before tax for the quarter, however,... 

Copper production in Peru, Panama to offset lower output in Indonesia, Zambia

By: Marleny Arnoldi     13th May 2019 After having grown by 2.5% in 2018, global copper production is expected to remain essentially unchanged this year, but will grow by 1.9% in 2020, the International Copper Study Group (ICSG) said in its ‘Copper Market Forecast for 2019/20’, released on Monday. ICSG met with global copper... 

Caledonia seeks clarity on gold support price in Zimbabwe

By: Marleny Arnoldi     13th May 2019 Caledonia Mining has requested clarity from Fidelity Printers & Refiners, in Zimbabwe, regarding a proposed new gold support price. Caledonia currently sells its gold production, through its Blanket Mine subsidiary, to Fidelity and is contractually entitled to receive a price that is derived... 

Platinum market set to move into deficit this year – Johnson Matthey 

By: Marleny Arnoldi     13th May 2019 The platinum market is expected to move into deficit this year, with a resurgence in investor activity to outweigh modest falls in industrial and jewellery demand, says Johnson Matthey in its latest platinum group metals market report. The science multinational company expects a tentative... 

Platinum market set to move into deficit this year – Johnson Matthey

Palladium's price gap over platinum needs to shrink – Nornickel 

By: Reuters     13th May 2019 The price gap between palladium and its sister metal platinum needs to shrink as number one platinum producer South Africa requires a higher price for the metal to keep investing in new supply, Russia's Norilsk Nickel said. Norilsk is the number one producer of palladium, accounting for more than... 

Without US-China trade war, copper price would be higher – Antofagasta chair

By: Reuters     13th May 2019 A trade war between the US and China is depressing the price of copper and the red metal would be 5% to 15% higher without the dispute, the chairperson for Chile's Antofagasta told a Chilean newspaper on Sunday. "Without the commercial war, I am convinced that the price of copper would be... 

Amazon rainforest is ours and not yours, Brazil tells the world

By: Bloomberg     13th May 2019 Managing the world’s largest rainforest is a Brazilian affair and foreigners should stop meddling in the Amazon, President Jair Bolsonaro’s top security adviser said in an interview. "I don’t accept this idea that the Amazon is world heritage, this is nonsense," General Augusto Heleno Pereira... 

Amazon rainforest is ours and not yours, Brazil tells the world

World's coal miners may be digging themselves into another glut

By: Bloomberg     13th May 2019 A global push to dig new mines for steelmaking coal is drawing warnings that a supply glut could push the industry from a boom to a bust, mirroring the brutal 5-year price slump that ended in 2016. Coal’s use to generate electricity has declined precipitously in the US despite a revival push by... 

World's coal miners may be digging themselves into another glut

LME appoints first female chairperson in its history

By: Reuters     10th May 2019 The London Metal Exchange (LME) has appointed Standard Chartered and ConocoPhillips board member Gay Huey Evans – the first female chairperson in its 142-year history. Evans, who is also on the board of Itau BBA International and has previously worked at Citi, Barclays Capital and the UK's... 

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... 

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