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Endeavour runs first ore through new Houndé mill

By: Henry Lazenby     Updated 5 hours ago TSX-listed gold miner Endeavour Mining has started wet commissioning of the new Houndé gold project, in Burkina Faso, with the first ore making its way through the milling circuit, the company advised on Monday. The London, UK-based miner said construction of the $281-million project is... 

Taseko’s board OKs Florence test facility in wake of permit appeal win

By: Henry Lazenby     Updated 6 hours ago Base metals-focused miner Taseko Mines has decided to proceed with the $25-million construction of a production test facility at its Florence in situ copper project, in Arizona, after winning a third-party appeal against the federal underground injection control (UIC) permit that was issued late... 

Arch Coal reprices, amends credit accord

By: Henry Lazenby     Updated 6 hours ago US coal miner Arch Coal has successfully completed an amendment to its credit agreement to reduce the interest rate on its senior secured term loan facility, the company reported on Monday. The new interest rate for the $300-million term loan facility is Libor plus 325 basis points – reflecting a... 

Tungsten-focused Thor moves diversified portfolio up value curve as commodity prices rally

By: Henry Lazenby     Updated 7 hours ago Australian junior Thor Mining is pushing ahead with progress on its diversified portfolio of tungsten/copper/lithium projects in Australia and the US, in hope of capitalising on rising metals prices. The Sydney-based explorer and project developer, which has equity listings on the ASX and LSE’s... 

Lucara sells giant ‘Lesedi La Rona’ diamond for $53m

By: Henry Lazenby     25th September 2017 Canadian diamond junior Lucara Diamond Corp has sold its 1 109 ct ‘Lesedi La Rona’ diamond for $53-million, or $47 777/ct, the company announced on Monday. Discovered in November 2015, the precious stone ranks as the second-largest diamond ever found, and consolidated the company’s flagship... 

Lower metals prices weigh on materials price index – IHS

By: Henry Lazenby     23rd September 2017 The materials price index (MPI) from Global Insight by IHS Markit has slipped 0.1% last week, the first decline in four weeks, as metal markets finally began to slide, the firm advised on Friday. The strength of the last few weeks has been mainly attributable to a surge in metal prices and the... 

Argonaut adds resources at its two operating assets

By: Henry Lazenby     23rd September 2017 On the heels of pouring first gold at its brand-new San Agustin project earlier this week, Mexico-focused miner Argonaut Gold has also increased the pit-constrained resources at its two operating mines, the company has advised. At El Castillo, the Toronto-based miner added about 328 000 oz of... 

Offer for Rockwell affiliates flops on BRP haste; orderly wind down still planned

By: Henry Lazenby     23rd September 2017 Bankrupts alluvial diamond miner Rockwell Diamonds advised on Friday that it has received two offers which, when combined, would have been able to buy out the Canadian company’s distressed South African subsidiaries. However, an untimely motion to place the affiliates into provisional liquidation... 

Tahoe dials up gold guidance as Escobal impasse drags on

By: Henry Lazenby     23rd September 2017 Precious metals miner Tahoe Resources has increased its guidance for expected gold output while its flagship Escobal mine, in Guatemala, continues to languish in care and maintenance, despite holding a valid licence to mine. The Vancouver-headquartered company announced after market close on... 

Alamos expands revolver by $250m

By: Henry Lazenby     22nd September 2017 TSX- and NYSE-listed miner Alamos Gold has reached agreement with its syndicate of lenders to increase its undrawn existing $150-million revolving credit facility by $250-million to $400-million on more favourable terms the company announced on Thursday. Based in Canada’s financial capital... 

Primero’s fall from grace accelerates on San Dimas ramp-up delay

By: Henry Lazenby     22nd September 2017 Precious metals producer Primero Mining’s proverbial fall from grace is near complete with the company once more trading in penny stock territory since early September – a level last seen in 2009 and a far cry from its peak at C$8.89 a share in July 2014. The Toronto-based company’s NYSE- and... 

Zinc darling Trevali poised for further organic, M&A growth as prices climb

By: Henry Lazenby     22nd September 2017 Following the recent $400-million acquisition of a portfolio of zinc assets from mining major Glencore, Vancouver-headquartered Trevali Mining has become the go-to investment vehicle for investors keen to get in on rising zinc prices. Supported by strong fundamentals, including a growing supply... 

Eldorado calls off threat to shutter Greek development projects as relations thaw

By: Henry Lazenby     21st September 2017 Canadian gold producer Eldorado Gold reports that icy relations with the leftist Greek government is on the mend, and it has temporarily postponed its threats to mothball development of the Kasandra Mines assets in Halkidiki, Northern Greece. The Vancouver-based company said on Thursday that it... 

Roxgold lifts FY guidance 9%

By: Henry Lazenby     21st September 2017 TSX-listed issuer Roxgold has increased its full-year guidance by nearly 9% to a range of between 115 000 oz and 125 000 oz of gold, compared with the previous guidance of 105 000 oz to 115 000 oz. The Toronto-based company, which operates its flagship Yaramoko gold mine, in the Houndé greenstone... 

PotashRidge to spin out Quebec assets; Encanto secures C$100m for Muskowekwan work

By: Henry Lazenby     21st September 2017 Despite a potash glut, junior project developers are making steady progress developing the next generation of mines that will provide plant nutrients needed to cater for exploding food demand across the globe. TSX-listed PotashRidge announced on Wednesday that it would spin out its Quebec assets... 

Angkor, Renaissance get Cambodian approval to proceed with Koan Nheak exploration

By: Henry Lazenby     20th September 2017 TSX-V-listed Angkor Gold has, together with its joint venture partner Renaissance Minerals, received approval from the Cambodian Ministry of Mines and Energy to proceed with their joint exploration plans of Koan Nheak under a definitive earn-in agreement signed in July. Renaissance is a Cambodian... 

PotashCorp curtails some capacity; Mosaic flags Irma disruption

By: Henry Lazenby     20th September 2017 Canada’s largest potash producer PotashCorp of Saskatchewan said on Wednesday it would curtail some capacity to balance its supply with market demand. Saskatoon, Saskatchewan-based PotashCorp said it would fully rely on its lowest-cost Rocanville operations, while the Allan operation would... 

Integra seizes precious metals opportunity in Idaho

By: Henry Lazenby     20th September 2017 Mere months after Integra Gold was bought out in a deal worth about C$590-million by Eldorado Gold, essentially the same team – reincarnated as Integra Resources – has reached agreement with major Kinross Gold to buy the DeLamar gold/silver mine, in Southern Idaho. The C$7.5-million... 

H1 2017 shows world refined copper deficit of 75 000 t

By: Henry Lazenby     20th September 2017 The world’s refined copper balance for the first half of 2017 indicates a deficit of around 75 000 t, including revisions to data previously presented, the Lisbon-based International Copper Study Group revealed on Wednesday. This is mainly owing to stagnant growth in the world refined copper... 

Endeavour board OKs Ity CIL expansion in Cote d'Ivoire

By: Henry Lazenby     20th September 2017 West African gold producer Endeavour Mining has given the $412-million Ity carbon-in-leach (CIL) project, in Cote d'Ivoire, the go-ahead, adding about 235 000 oz/y over the first five years to Endeavour’s current production profile of between 600 000 oz and 640 000 oz this year, at lower costs.... 

GoldMining makes first Peruvian foray

By: Henry Lazenby     20th September 2017 Americas-focused project developer GoldMining Inc is making its first foray into Peru with the 100% acquisition of Crucero gold project, located in south-eastern Peru, from Lupaka Gold. The TSX-V-listed companies have signed a sale agreement providing for total payment of 3.5-million GoldMining... 

Leagold ‘turning a corner’ at Los Filos as Bermejal upside beckons 

By: Henry Lazenby     19th September 2017 Gold miner Leagold Mining is making good progress with transforming the 200 000 oz/y-plus Los Filos mine into a strong, long-lived growth platform with which it can pursue other growth opportunities in Latin America. Speaking to Mining Weekly Online in Vancouver (see attached video), president... 

Pennsylvania permitting delay prompts Consol to change Bailey mine plan

By: Henry Lazenby     19th September 2017 A delay by the Pennsylvania Department of Environmental Protection (DEP) in evaluating the approval of the Bailey mine permit for the 4L panel has pressed Consol Energy to move the longwall to another panel to resume operations. The company expects the longwall move to last about four weeks and... 

Teck ups Red Dog guidance; outlines significant exploration target for Aktigiruq

By: Henry Lazenby     19th September 2017 Canada’s largest diversified miner Teck Resources has added about 50 000 t of zinc output to the full-year guidance for its Red Dog mine, in Alaska. Vancouver-headquartered Teck advised that improving recoveries in the last few months has prompted the company to lift guidance to a range of 525... 

First Cobalt exits volatile DRC in favour of mining friendly Ontario Cobalt Camp

By: Henry Lazenby     19th September 2017 TSX-V-listed First Cobalt will not complete a strategic alliance over seven cobalt exploration properties close to several major copper/cobalt operations in the Democratic Republic of Congo's (DRC's) Central African Copperbelt. The Toronto-headquartered company announced on Monday that it would... 

MAC adds two new factors to TSM initiative to combat child labour

By: Henry Lazenby     19th September 2017 The Mining Association of Canada (MAC) has added two new components to its Towards Sustainable Mining (TSM) initiative to help curb child and forced labour in the mining supply chain, and to provide the information needed for companies to demonstrate their responsible sourcing of minerals and... 

Mountain Province reports lowest prices yet for Gahcho Kué diamonds

By: Henry Lazenby     19th September 2017 The seventh sale of diamonds produced from Mountain Province Diamonds’ 49%-owned Gahcho Kué mine, in Canada’s Northwest Territories, saw the average price of rough stones fall to the lowest level since sales started in January. The September tender included an unusually large proportion of small... 

Deterrence, prevention critical for miners in fight against fraud

By: Henry Lazenby     18th September 2017 Fraud is a significant burden on the mining industry and is likely to cost companies an average of 5.85% of turnover every year. Therefore, catching it before it happens is often the best weapon to combat this scourge. This figure is based on 20 years of data across more than 40 sectors,... 

Kinross to proceed with Tasiast Phase 2, Round Mountain expansion projects

By: Henry Lazenby     18th September 2017 Senior Canadian miner Kinross Gold has revealed that it will spend about a $1-billion on two significant capital growth plans for the Phase 2 expansion of its Tasiast mine, in Mauritania, as well as the Phase W of the Round Mountain mine, in Nevada. “With Phase 2, Tasiast's annual production is... 

Rockwell perplexed as BRP opts to place 3 subsidiaries into liquidation, despite possible offer

By: Henry Lazenby     18th September 2017 Canadian alluvial diamond miner Rockwell Diamonds remains in the dark as to why business rescue practitioner (BRP) Metis Strategic Advisors had chosen to file a motion in the Kimberley High Court, on Thursday, to place the company's three subsidiaries back in provisional liquidation, when a... 

Sibanye-Stillwater lifts PGM grade at brownfield Stillwater mine extension

By: Henry Lazenby     15th September 2017 Recently minted Sibanye-Stillwater has successfully extended the platinum group metals (PGM) mineralisation at the Blitz project, in Montana – a brownfield extension of the existing Stillwater mine. The company announced on Friday that mineralised ore at the Blitz project had been intersected in... 

Bullish outlook for Canadian crude, natural gas provides investment opportunities

By: Henry Lazenby     15th September 2017 Two reports issued this week point to a significantly increased global appetite for fossil fuels like oil and gas, presenting an investment opportunity for energy speculators. While renewables are forecast to be the fastest-growing energy source, fossil fuels will continue to be important and... 

Greece issues more Olympias permits to Eldorado

By: Henry Lazenby     15th September 2017 Eldorado Gold’s increased pressure on the Greek government seems to be paying off, with the government issuing two more permits for the Canadian miner's Olympias project. Vancouver-based Eldorado confirmed on Friday that it had received the approval of the technical study for the old Olympias... 

Gold miners seek safety as political risks rise

By: Reuters     15th September 2017 Canadian miner Eldorado Gold's threat this week to freeze investments in Greece after years of frustrating and costly permit delays highlighted the risks the industry faces when it strays away from mining-friendly countries. After moving into higher-risk countries in recent years to mine new... 

Avalon intent to cash in on rapidly rising technology metal demand

By: Henry Lazenby     15th September 2017 A whole new world for lithium demand has aspiring technology metals firm Avalon evaluating its options to cash in on the red-hot industry, with the company patiently advancing three projects in its portfolio that will benefit from higher metals prices. Just this week, new evidence was provided... 

Eldorado receives Greek arbitration notice

By: Henry Lazenby     14th September 2017 Vancouver-headquartered Eldorado Gold said on Thursday its Greek subsidiary Hellas Gold has finally received a formal notice from the country’s Ministry of Finance and the Ministry of Environment and Energy initiating domestic arbitration. The mediation will take place under the provisions... 

Coal market boom casts bullish trajectory for Corsa as it prowls for M&A ops

By: Henry Lazenby     14th September 2017 Surprising as it may seem, coal demand is at an all-time high, with the current heydays spelling “good profits and rising margins” for several miners in this space, including US-focused Corsa Coal. The TSX-V-listed miner, which produces coal from six mines, has one development mine and operates... 

Improved fundamentals prompt Moody’s to adjust higher several commodity price sensitivity ranges

By: Henry Lazenby     14th September 2017 Improved fundamentals amid global economic growth are expected to sustain a higher pricing environment for the global base metals industry, prompting credit ratings firm Moody’s Investors Service to adjust higher the price sensitivity ranges for copper, iron-ore, and metallurgical and thermal... 

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