Dust samples from asteroid could help understand origin of precious minerals

Scientists at the Japan Aerospace Exploration Agency or JAXA reported this week that the Hayabusa2 spacecraft touched down on the asteroid Ryugu and will start collecting samples of the dust in its surface. The idea is to analyze such samples and get one step closer to understanding the origin of Earth’s water and precious minerals. According to the agency, asteroids are considered one of the candidates that brought water to our planet, which they retain as hydrated minerals. In the case of Ryugu, it is also expected to host some…

Brazilian iron ore supply disruptions to be expected – Report

Excluding Vale (NYSE:VALE), close to 8 million tonnes of seaborne iron ore supply from Brazil is at risk in 2019, a report by Wood Mackenzie states. According to the market analyst, such a supply disruption would be the result of the new regulation published by Brazil's National Mining Agency or ANM, which establishes the ban of all dams in the country built with the upstream method. Based on the new law, companies holding such structures will have six months to present a technical decommissioning project and until August 15, 2021,…

It’s happening — Barrick makes hostile $17.8 billion bid for Newmont

Canada’s Barrick Gold (TSX:ABX)(NYSE:GOLD), the world’s second-largest bullion producer, is going hostile in its bid to acquire U.S. rival Newmont Mining (NYSE:NEM) and create a mega-gold corporation with a $17.8 billion all-share offer. The move, announced before markets opened on Monday, increases the potential for a three-way fight among some of the world’s largest gold miners, and comes after Newmont’s chief executive, Gary Goldberg, qualified the approach as a "desperate" and "bizarre" move by Barrick. If successful, the bid will create the world’s largest gold company with a value of…

Maverix Metals achieves record gold equivalent production

Vancouver-based Maverix Metals (TSX-V: MMX) revealed that it achieved record annual gold equivalent production for 2018 with an output of approximately 20,900 ounces. Such a figure exceeds the high end of the company’s increased guidance of 19,000 ounces and represents an increase of 75% compared to 2017. According to Maverix, only in the fourth quarter of last year, it produced 5,650 equivalent ounces, which is 40% more of what it produced over the same period in 2017. Maverix spun out of Pan American Silver in 2016. In a press release,…

Titan Minerals and Core Gold merge and create Latin America-focused company

Perth-based Titan Minerals (ASX: TTM) and Vancouver-based Core Gold (TSX-V: CGLD) announced that they are joining forces to create a diversified Latin America-focused, ASX-listed gold company with a portfolio of projects in Ecuador and Peru. In a press release, the miners explained that they signed a binding arrangement pursuant to which Titan will acquire all of the issued and outstanding Core Gold common shares by way of a share exchange. Once the merger is completed, Core Gold and Titan shareholders will each hold approximately 48.5% and 38.9% of the combined…

Former Xstrata boss Mick Davis to mine Guinea’s Zogota iron ore deposit

Niron Metals, headed by the former boss of Xstrata Mick Davis, will develop Guinea's Zogota iron ore deposit, previously owned by BSG Resources (BSGR). The news, confirmed via an emailed statement, follows an agreement between Israeli tycoon Beny Steinmetz, BSGR’s owner, and the government of Guinea over the rights to Simandou, one of the world’s largest untapped reserves of iron ore. “[BSGR’s deal] has paved the way for the creation of an effective mining partnership between Niron and the Government to mine this deposit,” it said, “The company looks forward…

OceanaGold tables resource at WKP prospect in New Zealand

OceanaGold (TSX: OGC; US-OTC: OCANF) has tabled a maiden resource at its WKP gold prospect, 10 km north of its Waihi gold mine in New Zealand. WKP’s East Graben vein contains 410,000 indicated tonnes grading 18 grams gold and 22.7 grams silver for 234,000 oz. gold and 296,000 oz. silver. Its East Graben vein and T-Stream veins also contain 1.05 million inferred tonnes at 11.9 grams gold and 16.8 grams silver for 401,000 oz. gold and 568,000 oz. silver. While drilling for a resource at its East Graben Vein, OceanaGold…

Newmont fires back at “unqualified” Barrick team’s “shocking” record

Whether it was a premeditated move by CEO Mark Bristow to launch Barrick’s hostile bid only a couple of hours before Newmont’s outgoing boss Gary Goldberg was scheduled to speak to a select group of investors isn’t clear. What is apparent though is that the outgoing Newmont CEO came prepared for such an eventuality by opening his presentation at the BMO Capital Markets mining conference in Hollywood, Florida on Monday morning with slides disparaging Barrick’s track record and cast doubt on its intentions with the no-premium all-share offer. Bristow is…

De Beers consolidates Canadian, South African assets

De Beers Group has decided to merge its mining assets in Canada and South Africa under the name De Beers Group Managed Operations. The change is expected to create a more sustainable business and to streamline operations in both countries. De Beers announced the change as its mining footprint in both countries is shrinking due to the closure of the Snap Lake mine in Canada’s Northwest Territory and South Africa’s Voorspoed mine plus the already announced closure in May of the Victor mine in Ontario. Mpumi Zikalala The new managing…

Bayhorse pours first .9999 fine bar in Oregon

Bayhorse Silver of Vancouver has poured the first silver bullion from its mine of the same name in the central part of the state. The button contains 37.69 oz. of .9999 fine silver, and is stamped with the Liberty Refinery purity mark. The silver comes from a part of a 175 kg sample taken from the Bonanza vein. The sample was ungraded, and the silver content varied but assayed 10,528.6 g/t silver. Bayhorse is considering upgrading run of mine ore to ensure the 98% recovery goal can be met. Bayhorse…