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Copper snapshot: Eight companies with promising assets
With rising prices, a favourable supply-demand outlook and few new mines in development, investors are paying close attention to copper. Here are eight companies developing the next generation of projects. Arizona Metals Arizona Metals (TSXV: AMC) wholly owns the Kay…
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Kirkland Lake Gold reports ‘exceptional’ grades at Macassa
The latest drill results from Kirkland Lake Gold’s Macassa mine in Ontario include ‘exceptional’ gold grades and suggest potential for resource and reserve additions in three areas of the underground mine. The 135 drillholes reported are from the south margin…
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Argonaut’s Magino gold project gets the go-ahead
The board of directors of Argonaut Gold has approved construction of the company’s wholly owned Magino gold project in Ontario, 40 km northeast of Wawa. With a two-year construction period anticipated for Magino starting in January 2021, Argonaut expects a…
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First Majestic Silver on track to meet guidance
In the third quarter, silver miner First Majestic Silver churned out 5.2 million silver-equivalent oz., made up of 3.2 million oz. of silver and 25,771 oz. of gold, from its three underground mines in Mexico. The figures represent a 72%…
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Barrick transitions Hemlo to underground mining
Barrick Gold is moving ahead with plans to extend the life of its Hemlo gold mine in Ontario by transitioning the operation from open-pit mining to purely underground mining as a modernized ‘Tier Two’ asset. Mining of the Williams pit…
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Kirkland Lake generates 339,584 oz. in Q3, grows cash stores, dividend
Gold miner Kirkland Lake Gold reported third-quarter gold production of 339,584 oz., a 3% increase over the 329,770 oz. generated in the prior quarter. The Detour Lake and Fosterville mines led this output, producing 140,067 oz. and 161,489 oz. in…
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Dominion Diamond Mines sale of Ekati falls through
The future of the Ekati diamond mine in Canada’s Northwest Territories remains uncertain after Dominion Diamond Mines announced that a deal to sell it to a subsidiary owned by its parent company, The Washington Companies, has fallen apart. Dominion Diamond…
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Fruta del Norte produces 94,250 oz. in first full quarter
Lundin Gold’s Fruta del Norte gold mine in Ecuador produced 94,250 oz. of gold during the third quarter of 2020, which was the mine’s first full quarter of operations. Approximately 66,790 oz. were produced as a concentrate and 27,460 oz.…
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Northern Star, Saracen create US$11.5B Australian gold giant
Australia’s Northern Star Resources (ASX: NST) is buying smaller peer Saracen Mineral Holdings (ASX: SAR) in a deal that will create an A$16 billion (US$11.5 billion) gold giant, the world’s eighth-largest gold miner by market value. The A$5.76 billion (US$4.14 billion) merger comes amid…
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Pan American Silver restarts Huaron and Morococha
Pan American Silver announced on Wednesday that production has resumed at its Huaron and Morococha operations in Peru. Over the past couple of weeks, Pan American has been gradually redeploying its workforce following implementation of intensive health screenings and testing for COVID-19, the…
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Power outage damages equipment at Lundin’s Chapada mine in Brazil
Lundin Mining (TSX: LUN) has withdrawn its 2020 production, cash cost and capital expenditure guidance for its Chapada copper and gold mine in northern Brazil after a power outage caused damage to all four of the operation’s SAG and ball mill…
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First Majestic plans next steps in Mexico tax dispute
First Majestic Silver (TSX:FR; NYSE: AG) says it is getting ready to appeal a Mexican court decision this week that revoked a key agreement determining how the silver producer was taxed in the country. The federal court’s ruling, yet to be…
