Category: Latest Mining News

Lucara Diamond (TSX: LUC; BSE: LUC) shares rose by more than 12% Wednesday after it reported pulling a 1,080 carat diamond from its Karowe diamond mine in Botswana. It’s the company’s fourth thousand-plus carat diamond discovered from the mine since 2015.

As the world’s largest metal consumer, the second largest economy in the world, and the largest funder of overseas metal projects, China’s impact on the mining business globally cannot be overstated.

Gold Rim Exploration Inc, a leading Canadian precious metals mining company, is thrilled to announce a significant milestone in its mission to responsibly source gold and silver. Following an extensive and successful feasibility study, Gold Rim Exploration Inc is embarking on a new endeavor - the establishment of an open-pit gold and silver mine in El Rey, Salta, Argentina.

Barrick Gold (TSX: ABX; NYSE: GOLD) plans to restart operations at the Porgera gold mine in Papua New Guinea (PNG) later this year, according to CEO Mark Bristow, while an Indigenous group alleges its rights are being ignored in the mine restart process.

Hochschild Mining (LSE: HOC) shares jumped 17% in London after the company announced the approval of a modified Environmental Impact Assessment for its flagship Inmaculada gold-silver mine in southern Peru.

Chilean state copper company Codelco is partnering with Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) to explore the Australian miner’s recently acquired Agua de la Falda copper asset in the country’s north.

Initial drill results from Founders Metals‘ (TSXV: FDR) Antino project in southeastern Suriname have confirmed the presence of high-grade gold mineralization, sending the junior’s stock up by 8.5% this morning.

Mongolia-based Steppe Gold (TSX: STGO) has just announced a US$150-million funding deal to fully finance the Phase 2 expansion of its flagship project ATO gold mine in Mongolia. With expected annual production of 100,000 oz. gold equivalent by 2025 for 12 years, the company says it’s ready to unlock the full potential of its ATO mine and rapidly expand its presence in Mongolia.

Vancouver’s Los Andes Copper (TSXV: LA; US-OTC: LSANF) has signed a US$20-million royalty agreement with Ecora Resources (TSX: ECOR). The royalty includes a 0.25% net smelter royalty (NSR) on sales from open pit operations and a 0.125% NSR on underground production.

Excellon Resources’ (TSX: EXN; NYSE: EXN) shares plummeted following the news that its $50-million planned acquisition of the past-producing La Negra silver mine in Mexico, announced in January, has fallen through.

First Majestic Silver (TSX: FR; NYSE: AG) has delivered positive drilling results from its San Dimas and Santa Elena mines in Mexico and the Jerritt Canyon project in Nevada. In the first half of 2023, the company had up to 19 active drill rigs and completed a total of 78,973 metres of drilling across its portfolio of mines and projects.

Ecuador-focused SolGold (LSE: SOLG) said on Monday it had been granted a 25-year licence renewal for its flagship Cascabel copper-gold project in the Andean country.