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South America News
Fuel cell electric vehicles set to make strong entry – visiting experts 
By: Martin Creamer 15th July 2019 There is simply no doubt that fuel cell electric vehicles (FCEVs), which use platinum group metal catalysts, will make a very strong global entry in the next decade, global experts said on Monday. Speaking to Mining Weekly Online on the eve of Nedbank’s FCEV conference in Cape Town, Professor Dr... →
BHP and Luminex make Ecuador earn-in binding
By: Creamer Media Reporter 15th July 2019 Canadian junior Luminex Resources on Monday announced the signing of a formal earn-in and joint venture (JV) agreement with a wholly-owned subsidiary of BHP, which would earn into two mining concessions in Ecuador. Ultimately, the major will have the right to earn a 70% interest in a JV company... →
Avesoro reduces funding shortfall with contractor appointment at Youga
By: Marleny Arnoldi 15th July 2019 TSX- and Aim-listed gold miner Avesoro Resources’ subsidiaries, Burkina Mining and Netiana Mining, have entered into an openpit mining contract with Orkun Group, for the Youga gold mine, in Burkina Faso. The appointment of the contractor will help to reduce the company’s expected capital... →
Canada's Belo Sun touts procedural win but Brazil gold mine still on hold
By: Reuters 15th July 2019 Belo Sun Mining said on Friday it had won a legal victory in its push to mine the country's largest undeveloped gold deposit in the Amazon rainforest, which has drawn criticism from environmentalists and indigenous advocates. But the public prosecutor's office that is seeking to block the mine... →
PGMs eyed to elevate battery tech to new heights
By: Marleny Arnoldi 15th July 2019 JSE-listed Anglo American Platinum (Amplats) and TSX-listed Platinum Group Metals (PTM) have launched a joint venture, Lion Battery Technologies, to accelerate the development of next-generation battery technology using platinum and palladium. Lion has subsequently entered into an agreement with... →
Amplats market development head Benny Oeyen
Codelco names insider to replace departing CEO
By: Bloomberg 15th July 2019 Chile’s State-owned copper producer Codelco named Octavio Araneda as CEO, following the departure of Nelson Pizarro. Pizarro handed in his resignation on Friday during a board meeting at the company’s headquarters in Santiago, Codelco said in a statement. Araneda, who was most recently... →
IEA sees oil market oversupplied in 2019 on US production
By: Reuters 12th July 2019 Surging US oil output will outpace sluggish global demand and lead to a large stocks build around the world in the next nine months, the International Energy Agency (IEA) said on Friday. The forecasts appear to predict the need for producer club Opec and its allies to reduce production to balance... →
Marquee pulls trigger on Argentina investment
By: Esmarie Iannucci 12th July 2019 The shareholders of ASX-listed junior Marquee Resources will meet on August 15 to vote on the acquisition of lithium hopeful Centenario Lithium, after the company took the decision to complete the acquisition agreement. Marquee in June this year announced plans to enter into the lithium triangle... →
African govts’ mining policies perpetuating boom-and-bust cycle
By: Nadine James 12th July 2019 After a protracted period of consolidation, cost reduction initiatives and suspended dividends, the global mining sector is today in far better shape than it was during the years that followed the 2008/9 financial crisis and the subsequent commodities crash, notes Herbert Smith Freehills South... →
BHP is latest giant miner to plan exit from thermal coal
By: Bloomberg 11th July 2019 BHP Group is moving ahead with plans to exit thermal coal, according to people familiar with the matter, the latest move by the world’s biggest miners to retreat from the dirtiest fuel. BHP is looking at options to divest the business that includes assets in Australia and Colombia, said the... →
Gran Colombia hikes 2019 production target
By: Creamer Media Reporter 11th July 2019 Colombia’s largest underground gold and silver producer, TSX-listed Gran Colombia, has increased its guidance for 2019 to between 225 000 oz and 240 000 oz. The new guidance compares with a previous range of 210 000 oz to 225 000 oz, and follows a strong six-month period. →
SSR Mining on track for higher yearly gold production
By: Creamer Media Reporter 11th July 2019 Precious metals miner SSR Mining, which operates mines in the US, Canada and Argentina, expects to meet or exceed its yearly production guidance for the eighth consecutive year, following a strong first half of 2019. The company is on track for higher yearly gold production, having produced more... →
Fuel cells presenting mining, manufacturing with compelling opportunity – Isondo
By: Martin Creamer 11th July 2019 If South Africans make use of their superior sunlight and their prime wind, they can generate a lot of carbon-free electricity at a cost potentially cheaper than when Eskom burns coal and pollutes the air. That, in itself, is in line with the world’s decarbonisation demands. But there is more.... →
Isondo Precious Metals COO Dr Sakib Khan
Africa adds risk to Barrick portfolio, but Bristow is positive – Fitch
By: Mariaan Webb 11th July 2019 The acquisition of mines in Africa through a merger with Randgold Resources early this year, has raised the overall risk of Toronto-headquartered Barrick Gold’s mining portfolio, but analysts at Fitch Solutions believe that South African geologist Mark Bristow, who has a track record of operating... →
Shrinking demand to eclipse supply issues in tin market
By: Reuters 11th July 2019 The tin market is under greater pressure from an economic slowdown and falling demand than supply issues, where lower production from countries such as Myanmar is likely to be offset by a new project in central Africa. Tin prices on the London Metal Exchange at around $18 000 a tonne are down 15%... →
Oz Minerals unveils hub plans for Brazil
By: Esmarie Iannucci 11th July 2019 Australia-based miner Oz Minerals on Thursday announced a hub strategy for its Brazilian assets, with copper and gold processing facilities serving multiple small and mid-sized mines in Carajás and the Gurupi provinces. A nine month review and concurrent drilling programme of Oz Minerals’... →
Yamana adjusts FY guidance, reports strong second-quarter production
By: Mariaan Webb 10th July 2019 Canadian gold miner Yamana Gold on Wednesday reported strong preliminary second-quarter production results and updated its guidance for the year to reflect the completion of the sale of the Chapada mine, in Brazil, to Lundin Mining. The company produced 257 556 gold-equivalent ounces (GEOs) in... →
Brazil court convicts Vale for damages caused by deadly dam rupture
By: Reuters 10th July 2019 A Brazilian state judge on Tuesday convicted mining company Vale for damages caused by the deadly rupture of a tailings dam in January that killed at least 240 people. Judge Elton Pupo Nogueira ruled that Vale is responsible for fixing all the damages, although he did not set a monetary value... →
Giant copper project unblocked as Peru awards Tia Maria licence
By: Bloomberg 10th July 2019 Latin America’s second-largest copper producer got the green light to build a giant mine that’s key to plans to become one of the world’s top three producers of the metal. The Peruvian government awarded Southern Copper the license to start building its $1.4-billion Tia Maria project, which has... →
Mining stocks could rebound with help from Trump and China
By: Bloomberg 9th July 2019 The backdrop for miners is ready to brighten in the second half of this year. They just need a resolution of the trade war between the US and China to light a fire under their stocks. Metal prices and mining equities have been at the mercy of trade headlines all year, and business fundamentals... →
Brazil to auction mining rights for about 1 000 areas this year – regulator
By: Reuters 9th July 2019 Brazil plans to put about 1 000 mining areas up for auction this year including areas containing gold, copper and iron-ore, a director of the country's National Mining Agency (ANM) told Reuters on Monday. ANM had initially planned to start auctioning off the areas in the first half of 2019, but... →
Atico buys Toachi to create new Latin American copper/gold miner
By: Creamer Media Reporter 9th July 2019 TSX-V-listed mining juniors Atico Mining and Toachi Mining on Monday announced a transaction to create a new Latin America-focused copper/gold company, anchored by the producing El Robe mine in Colombia and the high-grade La Plata project, in Ecuador. In terms of the transaction, Atico will... →
Gold sees wildest price swings since 2016
By: Bloomberg 9th July 2019 The gold market is seeing the biggest price swings since late 2016 as traders and investors struggled to read when the Federal Reserve may cut interest rates. Bullion futures settled little changed in New York Monday just days after the metal surged near the highest since 2013 on bets the Fed... →
Coricancha gets Great Panther production nod
By: Mariaan Webb 8th July 2019 Vancouver-based Great Panther Mining on Monday announced a positive production decision for its Coricancha gold/silver/lead/zinc/copper mine, in Peru, but said that an actual restart date would only be determined next year. The positive production decision followed the final results of the trial... →
Horizonte’s Araguaia project guaranteed access to national grid
By: Creamer Media Reporter 8th July 2019 The Brazilian Mines and Energy Ministry has awarded dual-listed Horizonte an energy decree, which guarantees the company access to the national grid for the commercial operation of its Araguaia ferronickel project. The receipt of the energy decree follows a number of key permitting milestones... →
Central bank gold purchases up 73% so far this year, says WGC
By: Nadine James 8th July 2019 Net gold purchases by central banks totalled 35.8 t in May, 27% lower month-on-month, but net purchases in the year to date, at 247.3 t, are 73% higher year-on-year, the World Gold Council (WGC) reports. WGC market intelligence director Alistair Hewitt on Monday pointed out that central banks in... →
Continental closes $25m private placement
By: Simone Liedtke 5th July 2019 TSX-listed Continental Gold on Friday announced that it had closed a previously announced nonbrokered private placement with Eric Sprott through 2176423 Ontario, pursuant to which the company issued 10.6-million common shares for $25-million. The proceeds of the private placement will be used for... →
Yamana and Lundin finalise Brazil copper project deal
By: Marleny Arnoldi 5th July 2019 Canadian base metals miner Lundin Mining on Friday announced that it had successfully completed the 100% acquisition of Mineração Maracá Indústria e Comércio, a mining company that owns the Chapada copper/gold mine, in Brazil. Lundin in April announced its plans to buy the company from Yamana... →
Chile mining sector continues to lag on growth
By: Reuters 5th July 2019 Chile's economic activity rose 2.3% in May from the same month a year ago, the central bank said on Friday, as the top copper producer´s crucial mining sector continued to lag. The IMACEC economic activity index encompasses about 90% of the economy tallied in gross domestic product figures. →
UN deep sea mining body rejects Greenpeace criticism
By: Reuters 5th July 2019 The International Seabed Authority (ISA) has rejected criticism from Greenpeace over its handling of ocean mining, fuelling a spat that threatens to overshadow talks this month by the UN body towards rules for deep sea mining. Mining international waters is in the spotlight as companies and... →
Zinc One to raise up to C$2.44-million in rights offer
By: Nadine James 5th July 2019 TSX-V-listed Zinc One Resources will proceed with a rights offer to raise between C$1.22-million and C$2.44-million. The company will offer rights to holders of its common shares, as from the close of business on July 8, on the basis of one right for each common share held. →
Argosy marks first lithium in Argentina
By: Esmarie Iannucci 5th July 2019 ASX-listed Argosy Minerals has started lithium carbonate production at its industrial-scale pilot plant at the Rincon project, in Argentina. The operation entails the continuous processing of concentrated lithium brine, which is sourced from the operational evaporation ponds at the Rincon project... →
Jambreiro PFS proves up for Centaurus
By: Esmarie Iannucci 5th July 2019 A prefeasibility study (PFS) into the Jambreiro iron-ore project, in Brazil, has estimated that the project would require a capital investment of A$59.8-million. ASX-listed Centaurus Metals on Friday noted that the one-million-tonne-a-year operations is expected to have an initial mine life of 18... →
Gold heads for the longest stretch of gains in eight years
By: Bloomberg 5th July 2019 Gold is headed for the longest stretch of weekly gains since 2011 as investors count down to the release of a highly-anticipated US jobs report that could provide clues on the Federal Reserve’s interest rate path. Bullion’s higher for the seventh week as investors bet on looser policy from the... →
Strong fundamentals positioning miners to adapt to changing shareholder expectations
By: Simone Liedtke 5th July 2019 Despite the world’s top 40 miners consolidating their performance of the past several years, they are “not getting the credit for it”, according to consultancy PricewaterhouseCoopers’ (PwC’s) ‘Mine 2019: Resourcing the Future’ report, which provides key trends for the mining industry and PwC’s... →
ArcelorMittal removes 30 families from area close to dam in Brazil
By: Reuters 4th July 2019 The Brazilian unit of steel group ArcelorMittal moved 30 families from their houses near its Serra Azul mine in the town of Itatiaiuçu, Minas Gerais state, as a precautionary action after it ran a new risk evaluation of a dam close to the mine. The company said on Thursday that there was no... →
Top copper producer delays full restart of Chile smelter
By: Bloomberg 4th July 2019 Top copper producer Codelco is again delaying the return to normal operations at its Chuquicamata smelter. Some parts of the smelter are operating normally, including the flash oven and one acid plant, a Codelco official said in an email in reply to questions from Bloomberg. A second acid plant... →
Solaris to earn in on Freeport’s Tamarugo property in Chile
By: Tasneem Bulbulia 4th July 2019 Solaris Copper’s subsidiary Solaris Copper Chile has entered into a definitive earn-in option agreement with Minera Freeport-McMoRan South America with respect to Freeport’s Tamarugo property in Chile. Tamarugo is a grassroots copper porphyry target comprising about 5 100 ha strategically located... →
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