Pan African Minerals, a unit of Timis Mining Corp., won't resume production at its Tambao mine in Burkina Faso as a Paris-based arbitration court has dismissed the company's $2.2 billion claim against the West African nation.Tambao, one of the world's largest manganese mines, was forced to halt activities in 2015 following a change in leadership in Burkina Faso. The company then asked the Inter...Read More
Para Resources (TSXV: PBR) announced this week that it successfully tested the full CIP circuit at its Gold Road mine in Oatman, Arizona, including a test pour of gold.In a press release, the Vancouver-based miner said that a 40-ounce dor?(C) bar was poured on March 11, 2019, from the initial carbon strips after the entire plant was balanced.Para also reported that the full circuit of mining, crus...Read More
Russia's trade and industry ministry is considering a temporary ban on the export of precious metals scrap and tailings, the ministry said, to promote domestic refining of the materials.The proposed ban would last from May 1 to Oct. 31 this year, the Kommersant newspaper reported earlier, citing ministry documents.Russian precious metal refining facilities - the main consumers of raw materials con...Read More
SANTIAGO - Chilean lithium miner SQM on Thursday received environmental approval to expand its lithium carbonate production plant, the local environmental regulator told Reuters, marking a milestone as the company seeks to boost output of the coveted ultralight battery metal.The $400 million plant expansion, once complete, would allow the Chinese-backed SQM to eventually produce as much as 180,000...Read More
Vedanta Zinc International, a unit of diversified miner Vedanta Resources , said on Thursday it would close its zinc refinery in Namibia for five weeks after a strike by its mining contractor depleted stocks.Miners downed tools from Feb. 22 to March 6, affecting waste-stripping at the mine in southern Namibia and mining of ore, the firm said.The Skorpion Zinc Refinery continued operating during th...Read More
After four straight months of inflows, holdings in global gold-backed ETFs and similar products fell in February by 33 tonnes to 2,479t, equivalent to $1.3 billion in outflows, and gold trading volumes decreased 5% below the 2018 averages to $104 billion per day, according to data from the World Gold Council (WGC).However, global gold-backed ETF flows remain positive on the year ($1.7 billion) on...Read More
Uranium Participation Corp (TSX:U) is an incredibly straightforward company. It’s also one of the only ways you can gain direct exposure to the price of uranium.The company’s mission is simple: invest nearly all of its assets in uranium. The firm’s primary investment objective is to achieve “appreciation in the value of its uranium holdings through increases in the uranium...Read More
A Toronto-Dominion Bank Securities report recently forecast that the Bank of Canada would keep the benchmark rate on hold until late 2020. Stepping in line with many oddsmakers, the forecast suggests that a rate cut is the more likely move in 2019 due to soft economic data. Earlier this week I'd discussed how much pressure the moderate credit crunch was putting on consumers.If this forecast turns...Read More
Continental Gold's (TSX:CNL; OTCQX:CGOOF) shares surged over 11% on Friday, the same day the Toronto- based miner announced that it obtained a $175 million financing package backed by Newmont and Triple Flag Mining Finance.The package includes a $50 million debenture from Newmont, and a $100 million gold and silver stream from Triple Flag . Each of the debentures will be convertible at the h...Read More
Teck Resources (TSX:TECK.B)(NYSE:TECK) has long been known as a coal company — a resource so volatile and controversial that many investors believe it could ultimately drive the company to financial ruin. Last year, I addressed whether Teck Resources could go completely bust.However, peering under the hood, Teck Resources’s management team has been positioning the company for success...Read More
Mar 15, 2019 Guest(s): Bradford Cooke CEO, Endeavour Silver Silver's rally has yet to come, but the white metal is sitting on solid fundamentals right now said Bradford Cooke, CEO of Endeavour Silver. "I think we already have lifted off the bottom on both of the precious metals. Silver is normally leveraged to gold and we haven't seen that slingshot move yet. I think we will later this year," Co...Read More
It is easy to forget with all the explosive growth in the marijuana sector how far it could really go.We're still in the early days of the marijuana industry.Sure, this is obvious in the U.S., but it is true for even the most comprehensive recreational and medical markets.Look no further than what we discussed last week, as Canadian businesses are falling short of sales expectations because of pro...Read More
Turquoise Hill Resources (TSX: TRQ; NYSE: TRQ) reported 2018 income of $394.3 million-a 255.4% jump over 2017's $110.9 million-driven by an increase in gold production and sales from its Oyu Tologi copper-gold mine in Mongolia.Gold production surged 150% year-on-year to 285,000 ounces, while copper production of 159,100 tonnes marked a 1.1% increase over 2017. The income jump was driven by an inc...Read More
Silvercrest Metals (TSXV: SIL; NYSE: SILV) has upgraded the resource at its Las Chispas silver-gold property in Sonora, Mexico, to the indicated category for the first time.The project now contains 1 million indicated tonnes grading 6.98 grams per tonne gold and 710.6 grams silver, or 1,234 grams silver equivalent, for 224,900 oz. gold and 22.89 million oz. silver, or 39.8 million oz. silver equi...Read More
Newmont Mining (NYSE:NEM) announced Friday that the $245-milion power station project for its Tanami gold mine in northern Australia had been completed.The world's No.2 gold and copper producer, which has fully owned and operated the mine since 2002, said the project included the installation of two power stations, a 66 kV interconnected power line, and a 450 km natural gas pipeline.Newm...Read More
Australia's Lucapa Diamond (ASX:LOM) has recovered an 83.9 carat diamond from its recently commissioned Mothae mine in Lesotho, Africa.The stone is the fourth diamond over 50 carats the company has recovered to date at its 70%-owned Mothae operation.While the find was not gem-quality, Lucapa says it continues to underline the large-stone nature of the kimberlite resource.Commercial production at...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average closed higher Friday amid optimism the U.S. and China were making progress on a trade agreement, while Boeing (BA) rose on news of a faster fix to its 737 MAX 8 jets. Broadcom (AVGO) posted stronger-than-expected first-quarter earnings, reiterated its 2019 revenue forecast and said...Read More
Aluminium billet premiums in Europe and the United States moved lower on Friday March 15 due to continued weak demand, and the market remained quiet elsewhere. Italian premium drops 4.5%. Long term contracts dominate Brazilian market. US spot market remains quiet. Asia yet to see Russian units. Aluminium billet in Germany continues slide; premiums down throughout EuropePoor fundamentals and b...Read More
Copper continues to capitalize on the narrowing $0.75 per tonne cash-to-March spread contango, while the three-month contract rises to $6,430 per tonne, up $26 per tonne from the $6,404-per-tonne close on March 14.The three-month copper price seems to be ignoring the significant influx of material into Asian LME warehouses on March 15, with 18,905 lots of material traded during the day's session.N...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More