Quantcast
Loading...
Are you the publisher? Claim or contact us about this channel


Embed this content in your HTML

Search

Report adult content:

click to rate:

Account: (login)
Loading...

More Channels


Showcase


Channel Catalog


Articles on this Page

(showing articles 1 to 38 of 38)
(showing articles 1 to 38 of 38)

Loading...

Channel Description:

The latest mining world news and project information from North America.
    0 0

    Toronto-based base metals miner Ascendant Resources has announced “exceptional” results of its maiden preliminary economic assessment (PEA) for the Lagoa Salgada vulcanic massive sulphide project, located on the Iberian Pyrite Belt, in Portugal. The PEA outlines a robust and compelling economic assessment for Lagoa, based on the mineral resource estimate for the North Zone.

    0 0

    TSX-V-listed Dixie Gold has expanded its district-scale exploration project situated in the emerging Dixie gold district near Red Lake, Ontario. The corporation has purchased 197 mining claims covering about 4 011 ha of additional exploration rights, all of which are contiguous to its recently announced Red Lake project.

    0 0

    Although TSX-listed Roxgold achieved record quarterly gold production of 41 162 oz in the fourth quarter last year, it was not enough to make it meet its guidance for the year. The company produced 142 204 oz of gold, falling short of the low end of its guidance of 145 000 oz. This was despite a record plant throughput of 466 157 t in the year, which exceeded nameplate capacity by 16%.

    0 0

    TSX-V-listed Geomega Resources has selected an industrial site in Saint-Bruno-de-Montarville (St Bruno), in Canada, as the location for its rare earth magnets recycling demonstration plant using its proprietary in-situ recovery technology and has signed a long-term lease. The construction of the industrial complex was completed at the end of 2019 with final detail work currently ongoing. The location also provides space for the demonstration plant and for future expansions, which was an important selection criterion for the company.

    0 0

    Canadian intermediate gold producer Torex Gold Resources expects to produce between 420 000 and 480 000 oz of gold in 2020, with the mid-point of guidance relatively in line with the 454 810 oz of gold produced in 2019. Total cash costs are expected to range between $640/oz and $670/oz of gold sold. All-in sustaining cost are anticipated to range between $900/oz and $960/oz of gold sold.

    Loading...
    0 0

    Glencore is negotiating a long-term contract to ship cobalt to Tesla’s new electric-vehicle factory in Shanghai, according to people familiar with the matter. A deal would help Tesla avoid a supply squeeze on the key battery metal as it pushes into the world’s largest car market, and mark a win for Glencore after a tough spell for its cobalt business.

    0 0

    Precious metals miner Pan American Silver is entering 2020 as a “much larger, stronger and more profitable” company, following its 2019 acquisition of Tahoe Resources, standing it in good stead to capture the benefits of the current strong metal prices. During the 2019, which CEO Michael Steinmann said on Wednesday was the most important year in the company quarter-century history, Pan American completed the $1.07-billiion Tahoe transaction, integrated the new assets into its portfolio and captured $25-million to $30-million a year in synergies.

    0 0

    The interplay between market risk and economic growth is expected to drive gold demand in 2020, with a particular focus on financial uncertainty and lower interest rates, as well as a weakening in the global economic growth and gold’s price volatility, the World Gold Council (WGC) says. Owing to this, high risks and low rates remain on the horizon for the commodity, WGC notes, adding that many of the global dynamics seeded over the past few years will remain generally supportive for gold this year.

    0 0

    The World Gold Council (WGC) has introduced a pioneering methodology and analytic tool, called Qaurum, to provide greater clarity around the drivers of gold’s performance. Qaurum is a Web-based tool designed to deliver a robust quantitative approach to analysing how gold may react under diverse macroeconomic and geopolitical conditions.

    0 0

    Chile's environmental regulator on Wednesday defended in court its approval of a plan by top lithium miner SQM to remediate damage to the Atacama salt flat, appealing a lower court decision to scrap the agreement and setting the stage for a new and prolonged legal battle. Chile's Environmental Superintendent (SMA) blessed SQM's $25-million compliance plan in 2019 after a multi-year investigation that found SQM had over-drawn lithium-rich brine from the salt flat. But a local environmental court in Antofagasta in December invalidated the plan, calling it "insufficient".

    Loading...
    0 0

    China has agreed to buy two types of rare earth metals from the United States as part of an initial trade deal inked on Wednesday, a move likely to boost US production of the strategic minerals. The agreement, signed in Washington by Chinese Vice Premier Liu He and US President Donald Trump, gives China two years to ramp up purchases of hundreds of US products, including scandium and yttrium, two of the 17 rare earths commonly used in lighting and computers. It was a surprising about-face for China, whose status as the top global producer of the specialized minerals used to make electronics, military weapons and other high-tech equipment was seen as giving it leverage in its trade war with Washington.

    0 0

    Barrick Gold is set to elevate its troubled Papua New Guinea mine to its top-tier assets, despite landowner and government demands to cede a larger stake and deteriorating security at the joint venture with China's Zijin Mining With a 20-year lease renewal application in the balance, Barrick has faced backlash from Papua New Guinea (PNG) landowners and residents. Critics say the Porgera mine has polluted the water supply and created other environmental and social problems, with minimal economic returns for locals.

    0 0

    A rapid rise in the price of gold since 2000 has driven millions of people to deposits in Africa, South America and elsewhere where they dig for gold using basic technology. Such informal digging – known as artisanal or small-scale mining (ASM) - has been around for centuries, and gold offers cash to communities that may lack alternatives. There are now around 15-20 million artisanal miners, and millions more depend on them, Delve, a global platform for ASM data, estimates.

    0 0

    Canadian precious metals miner Yamana has exceeded its guidance for 2019, with production of 1.02-million gold equivalent ounces, boosted by a strong performance as the Jacobina and El Peñón mines. Gold production of 900 339 oz exceeded the group’s guidance of 899 000 oz and silver production of 10.64-million ounces also outperformed the 10-million-ounce target for the year.

    0 0

    Diamond miner Lucara Diamond has entered into a collaboration with famous luxury house Louis Vuitton and diamond manufacturer HB Company to manufacture its historic 1 758 ct Sewelô diamond that was recovered from Lucara’s Karowe diamond mine, in Botswana, in April last year. The purpose of the collaboration is the planning, cutting and polishing of a collection of diamonds from Sewelô.

    Loading...
    0 0

    TSX-V-listed First Cobalt has announced a new high-grade mineral resource estimate for the Iron Creek project, in Idaho, US, following an infill drill programme focusing on converting inferred resources to indicated resources. The infill drilling and limited step-out drilling resulted in a 49% conversion to the indicated category and a 12% increase in contained cobalt metal, while maintaining the average grade.

    0 0

    Canadian miner Eldorado Gold has made a new high-grade gold discovery at its Lamaque operations, near Val d’Or, Quebec, and has delayed the preliminary economic assessment (PEA) to include the new zone. Called the Ormaque zone, the new discovery is located in a previously undrilled area about midway between the historically mined Sigma deposit and the actively mined Triangle deposit, in close proximity to the proposed transportation decline linking the Triangle underground mine and the Sigma mill, all included in the growing Lamaque operations.

    0 0

    Alcoa Corp’s bid to stem a year-long profit slide isn’t getting much help from an aluminum market that’s showing little promise of recovery. The top US producer of the metal sees the aluminum market swinging to a surplus, adding more gloom to a slumping commodity and giving more urgency to a cost-cutting drive after a fourth straight quarterly loss.

    0 0

    Mexico-focused First Majestic Silver boosted its production by 15% in 2019 to 25.6-million silver-equivalent ounces (SEO). This was also at the top end of its 24.4-million to 26-million SEO guidance. Silver production reached 13.2-million ounces, representing a 13% increase over 2018 and within the 2019 guidance range of producing 12.8-million to 13.5-million ounces.

    0 0

    Vancouver-based SSR Mining has achieved record production again in 2019 on the back of solid operating performance at each of its three operations – Marigold, in the US, Seabee in Canada and Puna, in Argentina. The company’s produced a record 421 906 gold-equivalent ounces (GEO) last year, including 106 208 GEO in the fourth quarter.

    Loading...
    0 0
  • 01/16/20--08:41: Diamond Fields raises C$1m
  • Explorer and mine developer Diamond Fields Resources, which has assets in Madagascar and Namibia, has signed a binding term sheet to raise C$1-million in working capital from nonexecutive chairperson Albert Gourley and major shareholder Spirit Resources. Each lender will subscribe for C$100 000 worth of common shares at an issue price of C$0.20 a share and advance the company C$400 000 at an interest rate of 10% repayable by the end of this year.

    0 0

    TSX-V-listed Pancontinental Resource has been selected, through a competitive process, to explore the former Brewer gold mine – an abandoned property that lies about 12 km north-east along trend from the producing Haile gold mine in Carolina, US. Brewer is surrounded by Pancon's 100%-owned Jefferson gold project. Pancon CEO Layton Croft said on Wednesday that they were ready to investigate the underexplored project, with the goal of discovering new oxide gold mineralisation and the underlying copper/gold porphyry system by 2021.

    0 0

    The palladium rally continues to defy all expectations. The silvery-white precious metal, which is used in catalytic converters, has been on a tear this year that shows no signs of slowing down. It’s already notched a 20% gain for 2020. On Thursday, prices rallied 5.3% and surpassed $2 380 an ounce.

    0 0

    Canadian gold miner Iamgold on Thursday reported "solid" production results and named a new CEO, following Stephen Letwin’s decision to retire after a decade at the helm of the mid-tier mining company. Gordon Stothart, currently president and COO, would succeed Letwin as president and CEO and would join the board on March 1. Iamgold produced 762 000 ounces of gold in 2019, which was just short of the low end of the group’s guidance of 765 000 ounces to 810 000 ounces. Fourth quarter production was 192 000 ounces.

    0 0

    Russia, the world’s biggest buyer of gold, is losing interest in the precious metal. After spending an estimated $40-billion on gold in the past five years, the central bank is starting to rein in spending. It bought 149 tons of gold in the first 11 months of 2019, 44% less than the year before. Annual purchases are expected to be the lowest in six years. Analysts say that Russia’s central bank has maxed out the proportion of gold it wants to keep in reserve. They also view the threat of US sanctions and the need for a buffer against economic shocks diminishing as issues like the annexation of Crimea, election interference and the poisoning of a former Russian spy on British soil fade from public conversation.

    Loading...
    0 0

    Global gold major Barrick Gold said on Thursday it expects fourth-quarter gold production to be higher than third quarter, benefiting from strong output from its Turquoise Ridge gold mine in Nevada. Total preliminary gold production rose to 1.44-million ounces in the quarter ended December 31, from 1.31-million ounces in the third, while copper output gained 4.5% to 117-million pounds.

    0 0

    Precious metals miner Sibanye-Stillwater on Thursday confirmed that 1 142 employees had been retrenched during a now-concluded Section 189 process at its Marikana operation, which it acquired when it bought out troubled platinum group metals (PGMs) miner Lonmin for R5.2-billion in June last year. JSE- and NYSE-listed Sibanye, which operates gold mines and PGMs operations in South Africa and a platinum and palladium mine in the US, embarked on the S189 process after a three-month review of the Marikana operations, some of which had been loss-making for some time.

    0 0

    The world’s second largest gold mining company, Barrick Gold, has met its production targets for 2019, with gold output touching the upper-end of its guidance and copper production beating its planned output. During 2019, Barrick produced 5.5-million ounces, which compares with its guidance range of 5.1-million to 5.6-million ounces. Copper production of 432-million pounds exceeded its guidance of 375-million to 430-million pounds for the year.

    0 0

    TSX-V-listed Strongbow Exploration is raising capital to fund a drilling progarmme at its South Crofty tin project, in the UK, announcing on Thursday plans to raise $2-million through a private placement. The company will place 40-million units, priced at $0.05 each.

    0 0

    Aim-quoted Phoenix Copper has appointed COO Ryan McDermott its CEO with immediate effect, reflecting a change in operational emphasis as the company moves to expedite the timeframe to production from the Empire project, in Idaho, US. This year, the company will move from exploration and evaluation into project development, construction and production, which is anticipated in 2021.

    Loading...
    0 0

    Mining major Rio Tinto has reported marginal decline in production volumes during the fourth quarter of 2019 across most of its commodities, apart from bauxite. The miner on Friday reported that iron-ore production for the quarter ended December was down 4% on the previous quarter, to 83.6-million tonnes, while iron-ore shipments was up by 1% to 86.8-million tonnes.

    0 0

    De Beers is considering key changes to the way it sells diamonds as frustration mounts among its customers – a supposedly elite group that are now struggling to turn a profit. De Beers has signaled to its handpicked buyers that it may significantly reduce their number, possibly by the most since its monopoly ended at the beginning of the century, according to people familiar with the discussions. It’s also reconsidering the way that diamonds are allocated among the group, said the people, who asked not to be identified because the conversations were private.

    0 0

    Metals miner Taseko Mines is preparing for a nearly fourfold increase in its copper production by the middle of the decade, as the Vancouver-based company advances plans to add 285-million pounds a year of the metal from planned mines in the US and Canada. Taseko’s 70%-owned Gibraltar mine, British Columbia produced 160-million pounds of copper last year, and by 2025, the company will be producing close to 390-million pounds a year from its North American mines. The miner plans to add 85-million pounds a year of copper production from its Florence project, in Arizona, by 2022 and then another 200-million pounds from Yellowhead, British Columbia, by 2025.

    0 0
  • 01/17/20--08:57: Laramide raises funds
  • Dual-listed Laramide Resources has raised C$4.5-million through the private placement of 22.5-million units at a price of 20c. Each unit consisted of one common share and one share purchase warrant entitling the holder to purchase one additional common share at a price of 30c each for a period of 36 months from the closing of the offer.

    0 0

    The administrators for North American Lithium (NAL) have extended the bid deadline from January 21 to February 21. ASX-listed lithium miner Sayona Mining, which has placed its own bid for NAL, on Friday said that the extension was based on the court-approved sale procedures for NAL, which has a lithium mine and concentrator in Quebec.

    Loading...
    0 0

    Junior American Battery Metals has entered into a nonbinding letter of intent (LoI) to acquire Bayshore Minerals, a private company and its 100%-owned Elk gold mine project, in British Columbia. The project is host to a NI 43-101 compliant resource estimate comprised of 442 600 oz of gold in measured and indicated categories and 88 000 oz of gold in the inferred category.

    0 0

    Dual-listed Kinross Gold has completed the $283-million acquisition of the Chulbatkan heap leach development project in Russia, and has started a comprehensive drilling programme aimed at updating the resource base by year-end. Kinross will be spending about $10-million on initial exploration drilling at Chulbatkan during the year. The company is also planning to convert estimated mineral resources to estimated mineral reserves, complete prefeasibility and feasibility studies for the project within about three years, and is targeting a subsequent two-year construction period.

    0 0

    Democratic Republic of the Congo (DRC) President Félix Tshisekedi will be attending this year’s Investing in African Mining Indaba, which will be held in Cape Town next month. He will be accompanied by a large delegation from the DRC, including two newly appointed Cabinet Ministers, namely Energy and Hydrocarbons Minister Eustache Muhanzi Mubembe and Mining Minister Willy Kitobo Samsoni.


Loading...