| SILVER |
| Permitting and environmental assessments may delay Alexco mines |
| Silver production from Yukon-focused Alexco Resource's two new mines may be pushed to 2013 as the result of increased environmental assessments and permitting delays, the company warned on Monday. Alexco said engineering and development were advanced at the TSX-listed company's Onek and Lucky Queen mines and production was scheduled to start by the end of the year. Full Article |
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| DIAMONDS |
| Lucara completes second auction, undeterred by soft demand |
| Diamond junior Lucara Diamond on Monday said it had completed its second auction of diamonds from its Karowe mine, in Botswana, raking in $6.5-million in revenue. On July 16, a total of 35 individual lots containing 36 842 ct of diamonds were put up for sale, of which 32 lots were sold. Full Article |
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| MERGERS & ACQUISITIONS |
| Canada clears Glencore's Viterra acquisition |
| Canada's Industry Minister Christian Paradis has approved London-listed Glencore's $6-billion takeover of agribusiness Viterra. The Minister said in a statement that the deal, which was approved under the Investment Canada Act, would be of net benefit to the country. Full Article |
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| GOLD/SILVER |
| AuRico cuts production outlook at Ocampo mine |
| AuRico Gold cut its 2012 production outlook on Monday as a high turnover of skilled laborers at its Ocampo mine in northern Mexico weighed on gold and silver output. Development of the north-east underground mine at Ocampo, located in Chihuahua state, was significantly delayed by the labour problems, reducing production in the second quarter, the company said. Full Article |
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| SILVER |
| Endeavour Silver lifts silver reserve by 42%, renames mine |
| TSX-listed Endeavour Silver on Monday raised its total probable and proven silver reserve by 42% to 23.85-million ounces when it updated the National Instrument 43-101-compliant reserve and resource estimates for its newly acquired El Cubo mine. Following its $200-million acquisition last week from AuRico Gold of the Mexico-based El Cubo silver/gold mine in Guanajuato state, and the Guadalupe y Calvo silver/gold exploration project, in Chihuahua state, the company filed an updated resource and reserve statement. Full Article |
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| COPPER |
| Rambler switches to copper production, sells first lot |
| Copper junior Rambler Metals on Monday said it had successfully made the transition from producing an initial run of gold, to producing copper in concentrate, and had sold the first lot of 600 t from its Ming mine. Rambler produced 14 500 oz of gold in the first five months of operations at its Ming copper/gold mine at Canada's Newfoundland and Labrador Baie Verte Peninsula. However, the clearout of the Johnson Matthey refinery after processing the initial gold ore had provided an additional 613 oz of gold, bringing the total gold produced over the five month period to 14 918 oz. Full Article |
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| IRON-ORE |
| Alderon inks agreement with port authority to ship iron-ore |
| TSX-listed Alderon Iron Ore on Monday said it took another step to becoming an iron-ore producer when it inked an agreement with the Sept-Iles Port Authority, giving it a 20 year allocation to ship eight-million tons a year. The port is busy constructing a new $220-million multiuser deep-water dock facility through which Alderon plans to ship its product. Full Article |
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| GOLD |
| McEwen Mining lifts gold production |
| Toronto-listed McEwen Mining on Monday said its San Jose mine produced 9% more gold and gold-equivalent ounces quarter-on-quarter and 17% more when compared with the same period a year ago. The miner's 49% share of production at the mine during the quarter was 10 754 oz of gold and 735 000 oz of silver, representing 24 889 oz of gold and gold-equivalents. Full Article |
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| INDUSTRIAL INACTION |
| Some workers protest at Chile's Andina mine, output unaffected |
| A protest by some subcontracted workers delayed a shift change on Monday morning at Chile's Andina copper mine, owned by state giant Codelco, but the company said it did not affect production. The workers, who are on strike to demand the same benefits that staff employees receive, blocked an international road leading to the mine early on Monday for about three hours. Full Article |
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| PROTEST |
| Wildcat strike hits Vale Canada construction project |
| A wildcat strike by construction workers at Vale's Long Harbour nickel processing plant in Eastern Canada dragged into its fifth day on Monday, with hundreds of union members refusing to enter the job site in protest over wages. Strikers lined the road to the construction project in the province of Newfoundland and Labrador, ignoring calls from union representatives to return to work, Canadian media outlets said. Full Article |
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| SILVER |
| Coeur d'Alene raises Northair ownership to 18.2% |
| US-based silver producer Coeur d'Alene on Monday said it had subscribed to 10.75-million units of minerals explorer International Northair Mines to the value of C$3.01-million. Each unit comprises one previously unissued Northair common share and a purchase warrant for half a share. Full Article |
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| GOLD |
| Endeavour Mining lifts guidance despite dwindling production |
| Despite a quarter-on-quarter decrease of 2.37% in total gold production, West Africa-focused gold miner Endeavour Mining on Monday lifted its expected gold production target by 8% to between 187 000 oz and 202 000 oz. The TSX and ASX-listed miner said that in the June quarter it had produced 48 347 oz of gold from its Nzema gold mine, in Ghana, and its Youga gold mine in Burkina Faso, as well as 2 381 oz derived from bought ore from a private producer, which was processed at Nzema. Full Article |
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| IRON-ORE |
| Vale's huge iron-ore ship back in service after maiden accident |
| Vale Beijing, one of the world's largest dry bulk carriers, is back in service seven months after being damaged while loading its maiden cargo, amid indications that China eventually plans to allow similar huge vessels to dock at its ports. The December 6 accident at the Brazilian port of Ponta da Madeira was a major setback for Vale SA, the world's second-largest mining company, in its campaign to cut freight costs to China using an unprecedented fleet of 35 Valemax very large ore carriers. Full Article |
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| GOLD |
| OceanaGold Philippines mine now fully funded |
| ASX- and TSX-listed OceanaGold has secured a $220-million credit facility to develop its Didipio gold project, in the Philippines. The miner said on Monday that the project was now fully financed, despite an increase in the initial capital cost from $185-million in June last year, to $220-million. Full Article |
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