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Canadian federal agency rejects NGO complaint regarding KSM project permitting process

By: Henry Lazenby     Updated 1 hour 42 minutes ago A Canadian federal agency has rejected a request for review (RfR) by nongovernmental organisation (NGO) the Southeast Alaska Conservation Council (SEACC) of the permitting process regarding Seabridge Gold’s Kerr-Sulphurets-Mitchell (KSM) project, in British Columbia. The Canadian National Contact... 

TransCanada’s Keystone XL pipeline clears key hurdle despite oil leak incident

By: Henry Lazenby     Updated 2 hours 24 minutes ago Oil and gas pipelines operator TransCanada is reviewing a decision by the Nebraska Public Service Commission (PSC) approving an alternative route for the proposed Keystone XL (KXL) pipeline project through the state. "As a result of today's decision, we will conduct a careful review of the PSC’s... 

Rio Tinto, China's private equity prepare to bid for lithium producer SQM

By: Reuters     Updated 6 hours ago Rio Tinto, Canada's Wealth Minerals and Chinese private equity firm GSR Capital are considering a bid for a stake in Chilean lithium producer SQM (Sociedad Quimica Y Minera), banking sources told Reuters. Canada's Potash Corp of Saskatchewan must divest its 32% stake in the Chilean company as... 

Alamos shareholders support Richmont acquisition

By: Henry Lazenby     17th November 2017 The majority of Alamos Gold shareholders have voted in favour of its planned $747-million acquisition of boutique gold producer Richmont Mines. Richmont shareholders also on Thursday approved the transaction. 

Teck declares supplemental dividend of C$0.40 a share

By: Henry Lazenby     17th November 2017 Canadian diversified miner Teck Resources has declared a C$260-million supplementary dividend to return surplus cash on hand to shareholders, while simultaneously announcing a C$230-million share buyback programme. The Vancouver-headquartered company reported a strong balance sheet at the end of... 

Argentina Lithium embarks on 10 000 m drill campaign; open to more acquisitions 

By: Henry Lazenby     17th November 2017 TSX-V-listed lithium explorer Argentina Lithium on Thursday announced that it has appointed a new project manager to oversee a 10 000 m exploration drilling campaign at its two active projects in Argentina – located within the prospective Arizaro and Incahuasi salars. The Vancouver-headquartered... 

Bloom Lake restart breathes new life into Quebec/Labrador economies

By: Henry Lazenby     16th November 2017 Champion Iron Ore announced the official restart of the Bloom Lake mine, near Fermont, Quebec, on Wednesday, providing a healthy economic injection to the region through the employment of 450 people. Hitting a significant milestone only 19 months after acquiring the mothballed high-grade iron-ore... 

German minerals firm K&S lifts Q3 earnings, adjusts Canada mine ramp-up

By: Mariaan Webb     15th November 2017 German potash and salt producer K+S on Wednesday reaffirmed its earnings forecast for the full year, as it posted higher third-quarter revenue and earnings. The Kassel-headquartered company, which has production sites in Europe, North America and South America, increased its revenue by 6%... 

Trevali stock takes a dip on surprise Q3 loss

By: Henry Lazenby     15th November 2017 Zinc producer Trevali Mining has had a tough day on the TSX, seeing its stock dive as deep as 7.3% during intraday trading after the company reported a net loss of $7.8-million, or $0.01 a share for the three months ended September. The Vancouver-based zinc producer attributed the net loss mainly... 

Osisko Mining hits 301 g/t gold over 6.2 m at Lynx

By: Henry Lazenby     15th November 2017 Gold explorer Osisko Mining has reported more high-grade intercepts at its show-stopping Windfall Lake property, in Urban Township, Quebec, this time hitting 301 g/t gold over 6.2 m at the Lynx zone. The intercept was made in drill hole OSK-W-17-909, which forms part of an ongoing 800 000 m drill... 

Gowest aims to unlock refractory gold potential of legendary Timmins Camp

By: Henry Lazenby     14th November 2017 Little-known exploration and development company Gowest Gold is preparing to become the newest gold producer in the legendary Timmins Gold Camp, which, since its discovery in the early 1900s, has produced almost half of all the gold mined in Canada. The TSX-V-listed company is moving its North... 

Brazil-focused Serabi to bolt-on Anfield’s Coringa gold project for $22m

By: Henry Lazenby     14th November 2017 Dual-listed mining and development company Serabi Gold is looking to double output with the acquisition of the Coringa gold project, located in the Tapajos gold province of Para state, in Brazil. The LSE Aim- and TSX-listed miner announced early on Tuesday morning that it will acquire the... 

Endeavour expands mineralised zones at key Burkina Faso mines

By: Henry Lazenby     14th November 2017 West Africa-focused gold producer Endeavour Mining has expanded the mineralised trends at both its Houndé and Karma gold mines, in Burkina Faso, the company announced on Monday. At its flagship Houndé operation, which declared commercial production ahead of schedule and below budget on November... 

Global gold flows stable in Oct, gold ETFs add 3.3 t

By: Reuters     14th November 2017 Gold-backed exchange traded funds (ETFs) have added 3.3 t of gold to their global holdings during October, as outflows from North America mostly offset inflows in Europe, the latest data from the World Gold Council (WGC) shows. Global ETF gold holdings now total 2 347.6 t. 

Leagold reports maiden profit

By: Henry Lazenby     14th November 2017 Gold producer Leagold Mining has reported its first ever net profit since it took control of the Los Filos mine, in Mexico, in April. The Vancouver-headquartered company reported net earnings of $317 000, or nil per share, compared with the $7.63-million net loss, $0.06 a share, it suffered in... 

Mountain Province reports Q3 net income of C$27.7m

By: Henry Lazenby     14th November 2017 Mountain Province Diamonds has reported a third-quarter net profit of C$27.7-million, or C$0.17 a share, representing a profit during the first full operating quarter of its 49%-owned Gahcho Kué (GK) mine, in Canada’s Northwest Territories, since declaring commercial production on March 1.... 

Alberta creates C$40m worker support fund as coal phase-out deadlines loom

By: Henry Lazenby     11th November 2017 The Alberta provincial government has announced a C$40-million worker transition fund to provide income support for employees transitioning from working in the fossil-fuel-rich Western Canadian province’s thermal coal mines and coal-fired power plants, to new jobs or retirement. The new Coal... 

Namibia Rare Earths expands metals portfolio

By: Henry Lazenby     10th November 2017 TSX-V-listed project developer Namibia Rare Earths has signed an agreement with private firm Gecko Namibia to acquire a controlling interest in a portfolio of seven metals properties, thereby expanding its focus from heavy rare earths to include cobalt, copper, zinc, lithium, graphite, tantalum,... 

Announcing noteworthy diamond finds keeps market interest high – Paragon International

By: Henry Lazenby     10th November 2017 A review of 61 diamond finds over the past five years, which were significant enough to warrant press releases by the companies that mined them, shows that announcing the diamond finds publicly keeps market interest high, said diamond investment specialist Paragon International Wealth Management... 

Camborne School of Mines pioneers ‘Fairtrade’ model for ethically, sustainably resourced raw materials

By: Henry Lazenby     10th November 2017 A team of researchers at the University of Exeter’s Camborne School of Mines, based in Cornwall, the UK, are pioneering the development of a ‘Fairtrade’ model for ethically and sustainably resourcing raw materials that are crucial in the manufacturing of next-generation technologies. The research... 

IHS Materials Price Index falls for third time in 5 weeks

By: Henry Lazenby     10th November 2017 The materials price index (MPI) from Global Insight by IHS Markit fell by 0.4% last week, its third decline in the past five weeks. While the decline was relatively modest, it was broadly based, with eight of ten sub-indexes falling – the first time since June that a majority of the MPI's... 

Sherritt formalises restructuring of Ambatovy JV

By: Henry Lazenby     10th November 2017 Canadian diversified miner Sherritt International has signed a definitive agreement to restructure the Ambatovy Joint Venture (JV), which will see Sherritt transfer its 28% stake in return to eliminate debt from its balance sheet. Under the terms of the JV restructuring, which was first revealed... 

Fortune to consider higher cobalt output in Nico feasibility report

By: Henry Lazenby     10th November 2017 Project developer Fortune Minerals plans to increase the production rate at its flagship Nico cobalt/gold/bismuth/copper project, in Canada’s Northwest Territories, by between 20% and 30% in a response to feedback from potential strategic partners, the company announced on Thursday. London,... 

Semafo’s profit wanes on lower output

By: Henry Lazenby     10th November 2017 West Africa-focused gold miner and regional explorer Semafo has reported a 44% drop in headline profit during the third quarter ended September, as the new mine plan for its Siou operation, in Burkina Faso, delivered fewer gold ounces to sell, the company reported on Thursday. Adjusted net income... 

Wheaton Precious Metals posts 20% dip in Q3 profit

By: Henry Lazenby     10th November 2017 The world’s largest precious metals streaming firm Wheaton Precious Metals (WPM) has reported a 20% year-on-year drop in profit, as lower attributable production and lower metals prices weighed on the bottom line. For the three months ended September, the Vancouver-based company recorded net... 

Eldorado suspends Skouries development as Greek row intensifies

By: Henry Lazenby     10th November 2017 Canadian miner Eldorado Gold has moved to suspend development of its Skouries project, in Northern Greece, and has launched legal action against the Greek government for not issuing the required permits. The Vancouver-headquartered company said in a statement Thursday that, despite dialogue... 

Price weakness prompts Cameco to shutter world highest-grade mine, Key Lake mill

By: Henry Lazenby     9th November 2017 Cameco fingered sustained uranium price weakness as being behind its decision to shutter the McArthur River mining and Key Lake milling operations, in Northern Saskatchewan’s Athabasca Basin, Canada’s largest producer of the nuclear fuel announced on Wednesday. Saskatoon, Saskatchewan-based... 

EY's Canadian Mining Eye Index trends positively in Q3

By: Creamer Media Reporter      9th November 2017 The EY Canadian Mining Eye index gained 2% during the third quarter, following a 7% decline in the prior period. The gain was driven by increases across the board in precious and base metals. "As commodity prices continue to increase, appetite for investment in existing projects is expected to... 

Kinross reports 35% dip in Q3 earnings on lower sales

By: Henry Lazenby     9th November 2017 Canadian major Kinross Gold has reported a 35% dip in third-quarter profit as metal sales fell, the company advised on Wednesday. The Toronto company reported adjusted net earnings attributable to common shareholders for the three months ended September of $84.1-million, or $0.07 a share,... 

B2Gold’s surprise Q3 profit props up stock despite 71% drop in headline earnings

By: Henry Lazenby     9th November 2017 Canadian multinational gold miner B2Gold has reported a stronger-than-expected third-quarter profit, despite its headline net profit – excluding special items – falling 71% year-over-year. The Vancouver-headquartered company reported an adjusted net income for the three months ended September of... 

Argonaut submits scalable, lower-cost Magino feasibility study

By: Henry Lazenby     9th November 2017 TSX-listed Argonaut Gold has revealed details of a cheaper, more scalable approach to developing its 100%-owned Magino gold project, near Wawa, in Ontario. Opting to start out with a 10 000 t/d mill, instead of the 30 000 t/d mill envisioned in its January 2016 prefeasibility study, the project... 

Phoenix Global embarks on ambitious plan to restart Empire copper mine, Idaho

By: Henry Lazenby     8th November 2017 Aim-listed copper junior Phoenix Global Mining has formulated an ambitious growth strategy to restart mining at the brownfields Empire copper mine, in Idaho, by 2020. The company made its debut on the LSE's Aim market late in June, with the aim of bringing the historic mine back into production,... 

Alderon confident in Kami project economics, sans Wabush pits

By: Henry Lazenby     7th November 2017 Maritime Canada-focused project developer Alderon Iron Ore has published details of an updated preliminary economic assessment (PEA) on the Rose deposit of its flagship Kamistiatusset project, located in the high-grade iron-ore rich Labrador Trough of Western Labrador. The latest PEA is an update... 

PotashCorp, Agrium 'merger of equals' gains Chinese competition consent

By: Henry Lazenby     7th November 2017 The merger of Potash Corporation of Saskatchewan and Agrium Inc has received the thumbs up from the Chinese Ministry of Commerce. Billed as a 'merger of equals', the business combination will create a new $36-billion entity, to be named Nutrien. The transaction is working its way through the... 

Centerra, Aurico Metals reveal C$310m friendly tie-up

By: Henry Lazenby     7th November 2017 Canadian gold miners Centerra Gold and AuRico Metals have struck an accord to combine their businesses through a friendly C$310-million deal that will see Centerra usurp all of the outstanding equities of AuRico. Centerra is offering C$1.80 a share, representing a 38% premium on AuRico's... 

Argentina Lithium lays claim to entire salar within LatAm's 'Lithium Triangle'

By: Henry Lazenby     7th November 2017 The TSX-V-listed stock of energy metals junior Argentina Lithium & Energy shot up nearly 52% on Monday after the company announced that it had staked an entire salar, or salt flat, in Argentina's Incahuasi Salar and basin, in Catamarca province. The stock movement on Monday pays testament to the... 

Bagassi South feasibility study adds 40% more gold ounces to Roxgold's Yaramoko project

By: Henry Lazenby     7th November 2017 A new feasibility study on Roxgold's Bagassi South project, which is located on the TSX-quoted company's Yaramoko concession, in the Houndé greenstone region of Burkina Faso, has outlined the potential to lift the Yaramoko project's expected gold output by 150 000 oz/y. The 40% increase in output... 

Trevali lays strong foundation for future Halfmile-Stratmat project scenarios

By: Henry Lazenby     7th November 2017 A preliminary economic assessment (PEA) on Canadian pure-play zinc producer Trevali Mining's fully owned Halfmile-Stratmat zinc/lead/silver deposits, located in the Bathurst Mining Camp of New Brunswick, has produced strong results for developing either a standalone operation, or leveraging... 

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