Ausenco Engineering Canada has delivered a study of the refinery in Cobalt, Ontario to Toronto-based First Cobalt Corp. The study says that using third party cobalt hydroxide as feed, the refinery output could be doubled to 5,000 t/y cobalt contained in sulphate.The estimated cost to double refinery capacity would be C$37.5 million, spent in stages. Any work will first involve eliminating the exis...Read More
The government of New South Wales in southeastern Australia issued a communiqu?(C) stating that the state's Independent Planning Commission found that Hume Coal needs to address certain environmental and social issues before receiving approval for the construction of an underground mine.In detail, the subsidiary of South Korea's Posco is seeking planning approval to build and operate a large under...Read More
Tanzania intends to collect 470.9 billion shillings ($205.5 million) from minerals in 2019-20, compared with a projected income of 310.6 billion shillings in the fiscal year ending June 30.The East African nation plans to boost production and exports, open new mineral trading centers, curb smuggling and ensure closer supervision of the industry, Mining Minister Doto Biteko told lawmakers Monday. B...Read More
Morocco's leading mining firm Managem said on Tuesday it had retrieved the gold cargo that was seized by Sudanese authorities earlier this month.Sudanese Rapid Support Forces seized 241 kg of gold from a plane that landed in Khartoum on May 8 in an investigation into possible smuggling.The cargo is part of a regular deliveries and the company has completed all the administrative formalities in acc...Read More
China is seeking to lower domestic coal prices to aid power producers, and has proposed that miners bring the benchmark grade to below 600 yuan ($87) a ton, according to people with knowledge of the matter.The National Development & Reform Commission made the proposal to coal producers after six major utilities sought the government's help to reduce their raw material costs in order to deliver a c...Read More
Nasdaq Commodities will introduce a new trading system for its members where price quotes will be provided on request, the exchange said in a statement on Tuesday.Called Request for Quote Trading System or RFQ, the system will go live from June 10, subject to successful testing and regulatory approval."The new RFQ Trading System will introduce a new way of conducting trading on a private and exclu...Read More
Mosaic Company's unit said on Tuesday it resumed mining operations at its Catalao mine in Brazil, following suspension of production in April.The unit, Mosaic Fertilizantes, had stopped production at its Tapira and Catalao phosphate mines after failing to obtain a deadline extension for providing stability certification for three of its tailings dams.Mining regulations in Brazil have been affected...Read More
Authorities from Mexico's Zacatecas state hope to mediate an agreement to end a two-month blockade at the Penasquito gold mine between mining firm Newmont Goldcorp Corp and villagers in San Juan de Cedros.The dispute at Penasquito, Mexico's largest gold and silver mine, has led to losses for public coffers and the firm, as well as lost pay for workers and contractors."Our priority is that the mine...Read More
Shares of Nighthawk Gold (TSX: NHK) soared 21% to 44 ? in mid-morning trading following news of drill results at the junior's Colomac project in the Northwest Territories. The company has a C$76.5 million market capitalization.The first assay results from its 2019 drill program returned 56 metres of 13.49 grams gold per tonne, including 31 metres of 22.12 grams gold from 238 metres downhole in C19...Read More
Canada's Nutrien Ltd, the world's biggest producer of potash fertilizer, said on Tuesday that it was evaluating whether to expand its annual production capacity by 5 million tonnes after 2023, around the time that metals miner BHP is considering a move into potash.In a presentation to investors in Toronto, Chief Executive Chuck Magro said the additional capacity would consist of expansions to exis...Read More
Osisko Mining Inc. (OSK:TSX) has announced the discovery of a new gold-bearing zone at its Windfall Lake project located in the Abitibi greenstone belt of James Bay, Qu?(C)bec. The new zone is about 350 metres north of the main zone.Four of the nine holes drilled at the new discovery contained visible gold. Notable drill results include 393 g/t gold over 2.2 metres, 31 g/t gold over 6.1 metres and...Read More
Portofino Resources (TSXV:POR) made public this week initial sampling results from its Yergo lithium brine project, located at the Aparejos salar in the province of Catamarca, northwestern Argentina.In a press release, Portofino said that the exploration program consisted of surface and near-surface brine sampling and geological mapping. "Hand augers were utilized to obtain the brine samples from...Read More
A loan of $100,000 helps coffee farmers in Uganda double their income by keeping ownership of their coffee along the value chain.Read full newsRead More
Montreal-based Sirios Resources is enjoying bonanza gold grades from drilling at its Cheechoo property in the Eeyou Istchee James Bay region.Vein 112 yielded the highest grade in hole CH19-240: 25.5 g/t gold over 6.8 metres, including 187.0 g/t over 0.8 metre. Hole CH19-245 returned 18.9 g/t over 1.0 metres.Again hole CH19-245 in the Jordi zone returned 106.0 g/t gold over 1.3 metre. When CH19-240...Read More
Shareholders of both precious metals miner Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) and struggling rival Lonmin (LON:LMI) approved on Tuesday the planned merger of the companies, effectively creating the world's largest platinum producer and the second-biggest palladium miner.Sibanye-Stillwater said that 87% of its shareholders backed the all-share offer, which it revised down in April, valuing t...Read More
An owner of Uganda's only tungsten mine is suing the International Tin Association for defamation, saying the certifier wrongly accused it of trading in conflict minerals, court documents seen by Reuters show.The association's International Tin Supply Chain Initiative (ITSCI) programme, used by companies such as Apple, was introduced after the 2008 financial crisis to certify minerals in response...Read More
Volkswagen AG is making changes to its battery-purchasing plan worth about 50 billion euros ($56 billion) over concerns one of its supply deals, with Samsung SDI Co. Ltd., might unravel, according to people familiar with the matter.Samsung initially agreed to deliver batteries for just over 20 gigawatt hours, enough to power 200,000 cars with 100 kilowatt hour packs, before different views on prod...Read More
The rare earth minerals sector surfaced into the mining and commodities news this week amid speculation that China could use its dominance in production to deal the killer blow in its trade war with Donald Trump. It all stems from a visit by China’s top brass, President Xi and Vice Premier Liu He, to a rare earth minerals mine in Jiangxi province. The move was widely interprete...Read More
I have been writing to you for a few weeks now about the uranium bull market that is materializing...Especially here in North America, where the United States operates the world's largest nuclear fleet with 99 reactors... but only produces enough uranium to supply one of them.Which has left one of every five light bulbs dependent on a foreign source of uranium to light our way.I've covered many of...Read More
May 29, 2019 Guest(s): Bob Thompson Senior VP & Portfolio Manager, Raymond James The next bear market is coming and it could be on the same scale as past recessions we have seen, including the one in 2001, this according to Bob Thompson, senior vice president and portfolio manager at Raymond James. "40% to 50% is normal as far as market drops are concerned for the general markets," Thompson told...Read More