Northern Miner

09/04/2024

Allied Gold inks decade-long deal with Mali junta

Allied Gold (TSX: AAUC) secured a 10-year permit with Mali for its Sadiola mine and Diba deposit, facing higher fees and a lump sum tax from the military government amid disputes.

“Our net asset value on Sadiola is revised slightly lower due to the higher government royalties, ownership on Diba and the one-time cash payment,” Toronto-based Cormark Securities said.

Allied Gold (TSX: AAUC) has signed a preliminary agreement with Mali for a 10-year permit on its Sadiola mine and production from the nearby Diba deposit while the military government...

09/04/2024

Kamoa-Kakula Breaks Copper Production Record for August

Ivanhoe Mines Ltd.'s (TSX: IVN) Kamoa-Kakula copper complex in the DRC hit a record in August, producing 40,347 tonnes of copper in concentrate and achieving a milling record of 1.1 million tonnes.

Copper complex in the DRC achieved a monthly production of 40,347 tonnes of copper in concentrate in August.

09/04/2024

Blackrock Silver PEA Boosts Tonopah West Project Value

Blackrock Silver Corp's (TSXV: BRC; OTC: BKRRF) Tonopah West project in Nevada shows strong potential, with a preliminary economic assessment revealing a net present value nearly double its initial capital costs.

“It outlines the potential for it to be a key driver of domestic growth, increasing America’s annual silver production by over 12%,” Andrew Pollard, Blackrock president and CEO, said.

A preliminary economic assessment (PEA) for Blackrock Silver’s (TSXV: BRC; US-OTC: BKRRF) Tonopah West project in southwest Nevada gives it a net present value almost double its initial capital costs,...

09/04/2024

Sovereign Metals Highlights Premium Graphite Output from Malawi

Sovereign Metals Limited (ASX: SVM; LSE: SVML) has reached a major milestone by confirming the battery quality of graphite concentrate to be processed from its Kasiya project in Malawi.

Sovereign Metals (ASX: SVM; LSE: SVML) has reached a major milestone by confirming the battery-quality of graphite concentrate to be processed from its Kasiya project in Malawi. The Australian company...

09/04/2024

Cerro de Pasco Divests Santander Zinc Mine in Peru

Cerro de Pasco Resources Inc. (CSE: CDPR) is selling its Santander zinc-silver mine for up to US$10M in shares to cut debt and focus on its tailings reprocessing project.

CEO Guy Goulet said the sale aligns with the company’s strategy of reducing debt.

Cerro de Pasco Resources (CSE: CDPR) says it’s selling its Santander zinc-silver mine to a Peruvian distressed asset investor for as much as US$10 million in shares to reduce debt...

09/04/2024

Inside the Pretium Scandal: What Went Wrong?

In this week's episode, Ken Konkin, CEO of Tudor Gold, shares insights on the 2013 challenges faced at Pretium Resources when Strathcona raised issues about the Brucejack project.

In this week’s episode, Ken Konkin, President and CEO of Tudor Gold, reflects on his experiences at Pretium Resources, particularly the challenges the company encountered when Strathcona raised concerns about...

09/04/2024

Yukon starts probe into Eagle mine disaster

The Yukon government is starting an independent review of the June heap leach accident at Victoria Gold Corp's (TSXV: VGCX) Eagle mine, but an Indigenous group feels left out of the investigation process.

“Our government recognizes the seriousness of the heap leach failure that occurred at the Eagle Gold mine and its environmental impacts,” John Streicker, Minister of Energy, Mines and Resources (EMR) said.

The Yukon government has launched an independent review to identify the causes of the heap leach accident at Victoria Gold’s (TSXV: VGCX) Eagle mine in June, while an Indigenous group...

09/04/2024

Uranium Market Turbulence Now, Promising Future Ahead

The uranium market has faced some short-term pressure, with spot prices dropping below US$80 per lb. after hitting a peak of US$107 in February.

A new analysis by BMO Capital Markets showed Tuesday that despite this drop, prices are still 30% higher than last year, providing good returns for producers.

The uranium market has faced some short-term pressure, with spot prices dropping below US$80 per lb. after hitting a peak of US$107 in February. Despite Uranium market under pressure, but long-term outlook remains positive

09/03/2024

JV Article: Friedland Supports Power Nickel's Nisk Project Expansion

Power Nickel's (TSXV: PNPN; OTC: PNPNF) shares have surged nearly threefold this year with a significant polymetallic discovery at its Nisk project in Quebec, attracting top mining investors.

Power Nickel (TSXV: PNPN; US-OTC: PNPNF) shares have nearly tripled this year as the company transformed its resource-stage Nisk project in Quebec with a polymetallic discovery attracting billionaire mining investor Robert...

09/03/2024

JV Article: Sandvik Equipment Optimizes Operations at KGHM Victoria

In June, DMC Mining Services started trialing Sandvik’s DD422i two-boom dual controls jumbo bolter at KGHM’s Victoria nickel-copper project in Ontario, 35 km west of Sudbury.

“The way it really shines is the versatility of it—being able to bolt and drill and perform other ground support tasks,” Jory Dion, a drill trainer at Sandvik Mining and Rock Solutions said.

In June, DMC Mining Services started trialing Sandvik’s DD422i two-boom dual controls jumbo bolter at KGHM’s Victoria nickel-copper project in Ontario, 35 km west of Sudbury. The multi-purpose diesel-powered jumbo...

09/03/2024

Avalon PEA: Ontario Lithium Plant Valued 3x Above Costs

Avalon Advanced Materials Inc.'s (TSX: AVL; OTC: AVLNF) PEA for its Lake Superior Lithium plant shows a net present value over three times its capital costs, boosting its shares on Tuesday morning.

“We are extremely pleased with the positive outcomes of the PEA and will be advancing the project with a strong focus on environmental sustainability,” Avalon CEO and director Scott Monteith said.

A preliminary economic assessment (PEA) for Avalon Advanced Materials’ (TSX: AVL; US-OTC: AVLNF) Lake Superior Lithium processing plant in northern Ontario boasts a project with a net present value more...

09/03/2024

Gold Production in Australia Falls as Prices Soar

Australia's gold output fell slightly in the year to June 30 as miners adjusted to record prices, despite a 7% increase in Q2 production, reports Surbiton Associates.

Australia, the largest gold producer after China, produced slightly less of the yellow metal in the 12 months to June 30 as miners adjusted strategies for record high prices even...

09/03/2024

Teck restructures, promotes staff after coal exit

Teck Resources restructures with a focus on North America and Latin America, shifting primarily to copper production as part of its new company strategy.

“This change simplifies our business with a streamlined executive leadership team and regional structure to support our strategy focused on growth in copper,” Teck CEO Jonathan Price said.

Teck Resources (TSX: TECK.A and TECK.B, NYSE: TECK) says its new company structure will revolve around two regional business units, North America and Latin America, as it shifts to produce...

09/03/2024

London Listing Awaits Kodal Minerals, West Africa's First Lithium Producer

Kodal Minerals (LSE: KOD) is set to become West Africa’s first London-listed lithium producer when its Bougouni project in southern Mali begins production, planned for this year’s fourth quarter.

Kodal Minerals (LSE: KOD) is set to become West Africa’s first London-listed lithium producer when its Bougouni project in southern Mali begins production, planned for this year’s fourth quarter. The...

09/03/2024

Mineral Resources tightens belt after lithium, iron ore prices fall

Australia’s Mineral Resources (ASX: MIN) is slashing costs to ride out the weak lithium price but founder and chief executive Chris Ellison said the company wasn’t panicking.

Australia’s Mineral Resources (ASX: MIN) is slashing costs to ride out the weak lithium price but founder and chief executive Chris Ellison said the company wasn’t panicking. The iron ore...

09/03/2024

Editorial: Mining-powered rockets vs dockets

As summer ends, it's striking to note that only three mines have started production in the U.S. Southwest recently, highlighting a significant slowdown in the region's mining activity.

As we look in the waning days of summer to the United States’ Southwest in this edition, it strikes us that there’s been a staggering number of days that only...

09/03/2024

Diamonds Reimagined: The Rise of Lab-Grown Gems

The rise of lab-grown diamonds, offering similar quality at lower prices, is challenging the natural diamond industry, pushing it towards significant structural change and redefining its value proposition.

Since early 2022, the price of polished natural diamonds has fallen roughly 40%. The industry is being buffeted by negative economic headwinds, an excess of mine supply and too much...

09/03/2024

Hudbay Gets Green Light for Arizona Copper Project

Hudbay Minerals Arizona (TSX, NYSE: HBM) now has in hand the second-last permit it needs to start construction at its 85,000-tonne-per-year Copper World project in Arizona.

Hudbay Minerals (TSX: HBM; NYSE: HBM) now has in hand the second-last permit it needs to start construction at its 85,000-tonne-per year Copper World Latest permit for Hudbay project in Arizona paves way for major U.S. copper boost

09/03/2024

Betty Jean Hall: Pioneering Lawyer in Mining

Betty Jean Hall, a pioneering lawyer who dedicated her life to advocating for women in the mining industry, passed away on Aug. 16, at the age of 78.

Betty Jean Hall, a pioneering lawyer who dedicated her life to advocating for women in the mining industry, passed away on Aug. 16, at the age of 78. Her work...

09/03/2024

Robex Reports Loss Amid Shift from Mali to Guinea

Robex Resources (TSXV: RBX) reported a 10% rise in Q2 2024 gold production and a 35% revenue increase, but the company still posted a net loss.

“The strategic repositioning of the company towards the development of Kiniero is an exciting evolution for Robex,” said Robex Resources managing director Matthew Wilcox.

West Africa-focused gold miner Robex Resources (TSXV: RBX) reported a 10% increase in gold production and a 35% rise in revenue for the second quarter of 2024. However, the company...

08/30/2024

Northern Graphite boosts production 59% despite financial challenges

Northern Graphite - TSXV: NGC (OTCQB: NGPHF) reported a 59% production increase at its Lac des Iles mine in Q2, but income was impacted by lower battery metal prices.

“We took decisive action to manage our cash position to ease the strain on our working capital and provide us with greater flexibility to pursue our growth,” CEO Hugues Jacquemin said.

Northern Graphite (TSXV:NGC; OTCQB:NGPHF), the continent’s only graphite producer, reported a 59% increase in production from the first to second quarter this year at its Lac des Iles mine in...

08/30/2024

Lithium Slowdown: GM Pauses $330M Thacker Pass Project

General Motors (NYSE: GM) delays a $330M investment in Lithium Americas (TSX, NYSE: LAC), rescheduling the second tranche of their $650M deal to the end of 2024.

“Our relationship with GM has been built on collaboration and a mutual goal to develop a robust domestic lithium supply chain,” said Lithium Americas president and CEO Jonathan Evans.

General Motors (NYSE: GM) has postponed a $330-million investment in Lithium Americas (TSX: LAC; NYSE: LAC), pushing the second tranche of their $650-million deal, announced in early 2023, to the...

08/30/2024

Australia at risk of losing its ‘shine,’ miners warn

BHP (NYSE, LSE, ASX: BHP) is among Australian companies concerned about the country’s new labour laws and a shock government decision to block a project that already had permits.

08/30/2024

Shares of Midnight Sun Drop as Zambia Stops Copper Project

Midnight Sun Mining (TSXV: MMA) shares dropped sharply after the Zambian government rejected their request to renew the exploration license for the Kazhiba target at the Solwezi copper project.

“While we are disappointed in the current situation, we do believe it will be rectified,” CEO Al Fabbro said.

Midnight Sun Mining (TSXV: MMA) shares plunged on Thursday after it reported the Zambian government rejected a request to renew the company’s exploration licence for the Kazhiba target at its...

08/30/2024

Cordoba Minerals bags Alacran permit approval in Colombia

Cordoba Minerals Corp. (TSXV: CDB; OTC: CDBMF) secures construction permit for Alacran project in Colombia; work set to begin next year, pending financing of the US$420.4M copper-gold-silver venture.

“The approval means we are one step closer to build the next copper-gold mine in Colombia,” CEO Sarah Armstrong Montoya said.

Cordoba Minerals (TSXV: CDB; US-OTC: CDBMF) has secured a construction permit for the Alacran copper-gold-silver project in Colombia with work set to Cordoba Minerals bags Alacran permit approval in Colombia

08/30/2024

Six Firms Shortlisted for Chile's Lithium Project

Chilean state miner Enami shortlists Rio Tinto (NYSE, LSE, ASX: RIO), Eramet (EPA: ERA), BYD, and LG Energy Solution as potential partners for the Altoandinos lithium project, aiming to boost lithium production and global market presence.

Enami aims to formalize a public-private partnership by March 2025.

08/30/2024

Naidoo: Canadian Miners Must Enhance Productivity

Deshnee Naidoo, who until March led Vale’s energy transition metals business, says Canadian miners need to get more competitive and productive to unlock the country’s rich mineral reserves.

Watch the full video here: https://www.northernminer.com/video/video-canadas-miners-need-to-step-up-productivity-former-vale-exec-naidoo-says/1003870931/

Deshnee Naidoo, who until March led Vale’s energy transition metals business, says Canadian miners need to get more competitive and productive to unlock the country’s rich mineral reserves. “Canadian productivity...

08/29/2024

Ganfeng Lithium Slashes Budget as EV Sales Slow

Ganfeng Lithium, a top global battery metal producer, delays spending on projects lacking near-term returns after posting a US$107M first-half loss.

China’s Ganfeng Lithium, one of the world’s largest producers of the battery metal, says it will delay spending on projects that don’t generate “significant near-term returns” after reporting a first-half loss...

08/29/2024

Almonty Set to Begin Tungsten Production in South Korea

Almonty Industries (TSX, ASX: AII), nearing first production at its Sangdong tungsten mine in South Korea, recently hosted a U.S. government delegation to discuss strategic opportunities and partnerships.

Almonty Industries (TSX: AII, ASX: AII), which is closing in on first production from its Sangdong tungsten mine in South Korea later this year, says it recently hosted a delegation...

08/29/2024

India’s rallying jewelry trade helps sustain gold price

Retail gold demand for jewelry in India is rebounding despite record prices for the metal this year, according to BMO Capital Markets.

The discount in India to London Bullion Market Association prices for gold and silver has dropped, Colin Hamilton, BMO Capital Markets director of commodities research, said.

Retail gold demand for jewelry in India is rebounding despite record prices for the metal this year, according to BMO Capital Markets. The country lowered import duties on gold and...