Exclusive: Acacia, China miners in talks over Tanzania gold deal – sources – by Nicole Mordant and John Tilak (Reuters U.S. – February 16, 2018)

https://www.reuters.com/

VANCOUVER/TORONTO (Reuters) – China’s Shandong Gold Mining Co Ltd and Zijin Mining Group Co Ltd are in separate talks with Acacia Mining Plc to form a joint venture for the London-listed company’s gold mines in Tanzania, three people familiar with the matter told Reuters.

Acacia’s majority shareholder, Barrick Gold Corp, is involved in the discussions, the people said. Acacia, caught in a near year-long tax dispute with the government of Tanzania, has also has held talks with state-owned China National Gold Group about such a partnership, two of the people said, although it was not clear if those talks are ongoing.

Shares in London-listed Acacia, which were down around 3 percent, rebounded after the Reuters report to trade up as much as 3.4 percent. They closed down 0.9 percent, at 162.95 pence. Continue Reading →

No open pit mines for the Ring of Fire: Noront wants to keep a low mine profile in the James Bay region – by Ian Ross – Northern Ontario Busniess – February 16, 2018)

https://www.northernontariobusiness.com/

Noront Resources doesn’t intend to dig open-pit mines in the James Bay lowlands even though the abundance and the proximity of the rich chromite ore bodies to surface might dictate otherwise.

“It’s a natural ore body for open-pit mining,” said Noront president-CEO Allan Coutts during the Great Sudbury Chamber of Commerce’s Procurement, Employment and Partnerships Conference on Feb. 6.

“However we’ve said quite categorically, we’re not going to approach it as an open pit.” As the largest landholder in the Ring of Fire, Coutts said the thickness of their string of chromite deposits range between 10 and 30 metres, and come right to surface. Continue Reading →

COLUMN-Nickel flies on supply hits; Indonesia could ground it – by Andy Home (Reuters U.S. – February 16, 2018)

https://www.reuters.com/

LONDON, Feb 16 (Reuters) – Nickel has enjoyed a blistering start to 2018. On the London Metal Exchange (LME) three-month nickel has this week punched up through the $14,000 level for the first time since May 2015 to hit a Thursday high of $14,420 per tonne.

It has gained 10 percent since the start of the year and has bounced 34 percent from its December low of $10,740 per tonne. Speculative money has poured into this hot market, fund managers tripling their net long exposure LME-NI-MNET to the London contract over the course of December and January.

Shanghai investors have been equally enthusiastic, albeit with a Chinese twist of treating nickel as a bullish steel rebar derivative. Nickel is basking in the electric vehicle glow but the full demand impact is still in the future. Continue Reading →

Burkina Faso expects record 55 tonnes of gold in 2018 – minister – by Tim Cocks and Ange Aboa (Reuters Africa – February 16, 2018)

https://af.reuters.com/

OUAGADOUGOU (Reuters) – Burkina Faso expects to produce a record 55 tonnes of gold in 2018, a two-thirds increase on five years ago, as new projects in the landlocked West African country come on tap, the mines minister told Reuters in an interview.

Speaking in his office in the capital Ouagadougou late on Thursday, Oumarou Idani said gold production had hit 45.5 tonnes last year. That puts it ahead of Tanzania as Africa’s fourth-biggest gold producer — after South Africa and Burkina Faso’s neighbours Ghana and Mali.

The forecast for this year represents a 20 percent increase on 2017, and at current levels would put its industrial production on a par with No.3 producer Mali. Continue Reading →

[Ontario] Aboriginal mining strategy getting underway: Waubetek to hire coordinator, launch clearinghouse this spring – by Lindsay Kelly (Northern Ontario Business – February 16, 2018)

https://www.northernontariobusiness.com/

Funding is in place and a coordinator is being hired for the Aboriginal Mining Strategy for North-East Ontario, bringing the launch of the initiative closer to fruition.

Announced by the Waubetek Business Development Corp. in 2015, the three-year strategy outlines four strategic areas: developing Aboriginal mining industry knowledge; building mining industry relations; engaging a skilled Aboriginal workforce; and promoting Aboriginal business and partnerships.

The strategy’s goal, said Dawn Madahbee Leach, Waubetek’s general manager, is to help Aboriginal people become more involved in the mining industry. “It’s taken us a long time; it’s just been bumping back and forth to get some of the financial parts, but we finally did with some help from FedNor and the NOHFC,” said Madahbee Leach. Continue Reading →

Barrick mulls selling copper business as it faces lower production, higher costs – by Niall McGhee (Globe and Mail – February 16, 2018)

https://www.theglobeandmail.com/

Barrick Gold Corp. is contemplating getting out of the copper business. President Kelvin Dushnisky said a sale of the copper assets is a possibility, although the company is not running a sales process at this time.

“Would we consider divestment in some point in time? Yes,” Mr. Dushnisky said in an interview with The Globe and Mail.

Barrick acquired its copper assets primarily through its US$7.3-billion purchase of Equinox Minerals Ltd. in 2011. The high-priced acquisition, timed shortly before a global slump in metals prices, proved to be a financial disaster, as Barrick wrote down the value of these assets by US$3.8-billion less than two years later. Continue Reading →

U.S. Commerce Wants Aluminum Tariff-Quota on Imports – by Joe Deaux and Andrew Mayeda (Bloomberg News – February 16, 2018)

https://www.bloomberg.com/

Shares in U.S. aluminum and steel companies from Alcoa Corp. to Nucor Corp. surged after the U.S. Commerce Department recommended that President Donald Trump impose a range of restrictions on imports from tariffs to quotas.

In a briefing with reporters on Friday over the results of his department’s investigation, Commerce Secretary Wilbur Ross proposed a 24 percent global tariff on steel shipments coming into the U.S. and a 7.7 percent duty on aluminum imports. Trump has the latitude to choose between these types of options or even enter talks with producers to find solutions.

The recommendations pushed up Century Aluminum Co. as much as 11 percent, while Alcoa gained 5.5 percent. Aluminum on the London Metal Exchange rose as much as 2.4 percent as of 5:15 p.m. in London. Continue Reading →

Pembridge grabs copper-gold-silver mine in Canada’s Yukon – by Cecilia Jamasmie (Mining.com – February 15, 2018)

http://www.mining.com/

Pembridge Resources (LON:PERE) said Thursday it was buying Capstone Mining’s (TSX:CS) Minto copper-gold-silver mine in Canada’s Yukon for $37.5 million in cash plus a 9.9% stake in the company.

The miner, which last year moved from the AIM to LSE main board, said the acquisition makes of Pembridge a cash flow generating copper producer.

The London-based company said it plans to raise $50 million via an equity placement. The money will be used to fund the proposed acquisition and provide resource development and working capital, it said. Continue Reading →

Harte Gold Triples Mineral Resource at the Sugar Zone Project (February 15, 2018)

HARTE GOLD CORP. (“Harte Gold” or the “Company”) (TSX: HRT / OTC: HRTFF / Frankfurt: H4O) is pleased to announce an updated Mineral Resource Estimate and significant increase over the NI 43-101 Mineral Resource Estimate contained in the Company’s Preliminary Economic Assessment (“PEA”), dated July 12, 2012.

Using a 3.0 g/t Au cut-off, which will form the basis of the Company’s new mine plan, the Mineral Resource Estimate dated February 15, 2018 contains an Indicated Mineral Resource of 2,607,000 tonnes grading 8.52 g/t for 714,200 ounces of contained gold and an Inferred Mineral Resource of 3,590,000 tonnes, grading 6.59 g/t for 760,800 ounces of contained gold. Please see the table below for a sensitivity analysis.

Stephen G. Roman President and CEO of Harte Gold Corp. commented, “We are very pleased with the results of the Mineral Resource update based largely on the 2017 drill program. With the Middle Zone discovery and the extension of the Sugar Zone down dip we have now delineated 1.5 million ounces and have demonstrated this Deposit has significant size potential. Continue Reading →

Charging ahead: how Australia is innovating in battery technology – by Jonathan Knott (The Conversation – February 15, 2018)

http://theconversation.com/

Lithium-ion remains the most widespread battery technology in use today, thanks to the fact that products that use it are both portable and rechargeable. It powers everything from your smartphone to the “world’s biggest battery” in South Australia.

Demand for batteries is expected to accelerate in coming decades with the increase in deployment of electric vehicles and the need to store energy generated from renewable sources, such as solar photovoltaic panels. But rising concerns about mining practices and shortages in raw materials for lithium-ion batteries – as well as safety issues – have led to a search for alternative technologies.

Many of these technologies aren’t being developed to replace lithium-ion batteries in portable devices, rather they’re looking to take the pressure off by providing alternatives for large-scale, stationary energy storage. Continue Reading →

Sound policy, low risk key to attracting mining investment – by Henry Lazenby (MiningWeekly.com – February 16, 2018)

http://www.miningweekly.com/

VANCOUVER (miningweekly.com) – Gobal equity markets have been extremely volatile in recent weeks, extending a frantic sell-off of US stocks, which culminated in the steepest plunge for the Dow Jones Industrial Average in six-and-a-half years.

While commodities were not spared from the rout, American multinational investment banking and financial services firm Citigroup says now is the time for investors to add positions in metals.

According to Citigroup, demand-led inflationary pressures are a boon for real assets like commodities, as they raise the cost of production and support higher prices, while they are bearish for assets such as bonds. Continue Reading →

[Norilsk Nickel] Deripaska in Faceoff With Abramovich in London Court – by Yuliya Fedorinova and Jess Shankleman (Bloomberg News – February 16, 2018)

https://www.bloomberg.com/

Russian billionaires Oleg Deripaska and Vladimir Potanin have revived a years-old battle for control of the country’s biggest mining company, MMC Norilsk Nickel PJSC.

The two tycoons each own roughly 30 percent of Norilsk Nickel and have long jockeyed for power in the company, which operates some of the richest mines in platinum, palladium and nickel, until President Vladimir Putin intervened in 2012. An agreement let a company controlled by Roman Abramovich buy a small stake in Norilsk Nickel in exchange for a promise to keep the peace.

Abramovich’s Crispian Investment Ltd. now wants to sell part of the stake, according to three people familiar with matter. The holding was about 5 percent at the start of 2017, implying a current value of more than $1.5 billion. Continue Reading →

Federal government names winners of $950-million ‘supercluster’ funding – by Sean Silcoff (Globe and Mail – February 16, 2018)

https://www.theglobeandmail.com/

The federal government unveiled the winners of its flagship innovation funding program on Thursday, committing $950-million to five industry consortiums drawn from hundreds of companies, research institutions and industry groups that don’t typically collaborate but that Ottawa hopes will create economic growth by combining forces.

Innovation Minister Navdeep Bains said the goal was to create “a made-in-Canada Silicon Valley” that will add billions of dollars to the GDP and get businesses to invest heavily in research and development – and create 50,000 jobs.

The winners represented a broad cross-section of industry and academic players, which Mr. Bains said was the government’s intent. “This was about seeing how the private sector can step up,” he said in an interview. “We wanted to see more collaboration … more ambition” on the part of Canadian industry. Continue Reading →

Adani scouts world for coal – by John McCarthy (Mackay Daily Mercury – February 16, 2018)

https://www.dailymercury.com.au/

ADANI is scouting the world looking for coal as its Carmichael megamine in Central Queensland remains without financing and facing a growing tide of environmental and political opposition.

Tensions between the State Government and the industry are also increasing after the rejection this week of environmental approval for the Acland coal mine expansion.

The decision has cost the company $158million so far as investors have sold off the stock in the past two days. Adani said yesterday the search was not for a replacement for the Carmichael, which would become one of the world’s biggest coal mines if it ever reached the original proposal. Continue Reading →

Agnico Eagle CEO bullish on Canada as rivals falter overseas – by Gabriel Friedman (Financial Post – February 16, 2018)

http://business.financialpost.com/

Gold prices are rising after a prolonged period of sluggish performance, but not all gold producers will be able to use 2018 to grow — as three earnings announcements released this week by senior Canadian gold companies demonstrated.

Barrick Gold Corp., the world’s largest producer, cut its 2018 production outlook to 4.5 million to 5 million ounces whereas Goldcorp Inc., at nearly half the size, kept its production outlook unchanged at 2.5 million ounces. Meanwhile, the smallest of the pack Agnico Eagle Mines Ltd., increased its production guidance to 1.53 million ounces.

The different growth outlooks not only reflect the difference in size between the companies, but also varying approaches to risk management — whether related to the geography of operations, the approach to acquisitions and explorations or other aspects of management. Continue Reading →