Updated Reserves and Resources Dundee Precious Metals Inc., based in Toronto, has recently updated the Mineral Reserve and Resource estimates for its Chelopech mine in Bulgaria. The new estimates project an extension of the mine’s operational life until 2032. The updated figures show Proven and Probable Mineral Reserves of 1.6 million ounces of gold and 305 million pounds of copper....
Precious metals news
Tragic Elevator Accident in South African Platinum Mine
Elevator Plummet Results in Fatalities and Injuries In a devastating incident at a platinum mine in Rustenburg, South Africa, an elevator carrying workers plummeted approximately 200 meters (656 feet), leading to the death of 11 individuals and injuring 75, with 14 in critical condition. The accident occurred at the end of a shift at a mine operated by Impala Platinum...
Decline and Potential Upswing in Platinum Prices
The global market is currently experiencing a downturn in platinum prices. In January, platinum was valued at $1,113 per troy ounce, but it has since fallen to around $845. This trend of decreasing prices is expected to continue through the end of 2023 and into 2024. However, conditions are now forming that could lead to an eventual increase in platinum...
Bayan Khundii Project Set to Elevate Mongolia’s Gold Mining Industry
Project Overview and Potential The Bayan Khundii (BK) gold project, located in southwestern Mongolia, is on track to become one of the world’s highest-grade open-pit gold mines and the largest primary gold producer in Mongolia by 2025. An updated feasibility study completed in August 2023 highlights the project’s promising economic potential. Feasibility Study Highlights The updated study encompasses a revised...
Decade Resources Explores Multiple Properties in BC’s Golden Triangle
Terrace Project Exploration Update Decade Resources has made notable advancements in exploring several properties in British Columbia’s Golden Triangle. In the Terrace Project, particularly in the Nobody Knows Zone, the company discovered significant copper sulphide mineralization. This project, covering 17,470 hectares, includes the Nobody Knows, Dardanelle, and Treasure Mountain properties. Drilling activities revealed copper sulphides in felsic volcanic rocks, with...
Catalyst Metals Aims for Production Boost at Plutonic Gold Mine
Analyst Chris Brown from Morgans anticipates a substantial increase in production at Catalyst Metals’ Plutonic gold mine in Australia. Over the next two years, the company is expected to double its annual output, surpassing 150,000 ounces. This surge in production is likely to lower cash costs per ounce and elevate Catalyst Metals to the mid-tier among ASX-listed gold miners. Brown...
Anglo Asian Mining Sees Decline in Gold and Silver Output in Azerbaijan
Anglo Asian Mining reported a significant reduction in gold and silver production in Azerbaijan for the period from January to September 2023. The company’s gold equivalent output fell by 33.4% year-on-year, with gold production decreasing by 41.3% to 18,771 ounces and silver production dropping by 65.2% to 50,272 ounces. However, copper production saw an 11.6% increase, reaching 2,111 tons. The...
Struggle for Control Over Nkwe Platinum’s Mineral Deposits Intensifies
Background of the Dispute The ongoing dispute between Chinese-owned Nkwe Platinum and its empowerment partner Genorah Resources over control of extensive mineral deposits in northeast South Africa remains unresolved. These deposits, estimated at 23 million ounces of platinum, palladium, rhodium, and gold, are located near Anglo American Platinum and African Rainbow Minerals’ Modikwa mine in the Eastern Limb of the...
Americas Gold and Silver Releases Q3-2023 Results with Mixed Outcomes
Steady Revenues Amidst Challenges Americas Gold and Silver Corporation unveiled its Q3-2023 financial performance, reporting a consistent revenue of $18.3 million, mirroring the same period in 2022. This outcome was driven by a rise in silver production and pricing at the Galena Complex, counterbalanced by a decrease in base metal output and a drop in zinc prices at the Cosalá...
Platinum Industry Faces Headwinds Amid Shift to Electric Vehicles
South African Miners Confront EV Market Shift The rise of electric vehicles (EVs) presents a challenging landscape for South African miners specializing in platinum group metals (PGMs). South Africa, the world’s leading reserve holder and producer of platinum, finds its industry at a crossroads as global demand shifts due to the EV revolution. Major miners in the region, such as...