Frederic Tomesco

2 days ago | northernminer.com | Frederic Tomesco

Pan American Silver (TSX, NYSE: PAAS) agreed to buy MAG Silver (TSX, NYSE: MAG) for about $2.1 billion in cash and stock to gain a stake in Mexico’s large-scale Juanicipio mine. MAG shares jumped while Pan American’s plunged. MAG shareholders will receive the equivalent of $20.54 per share, based on Friday’s closing price on the New York Stock Exchange, according to a release on Monday.

6 days ago | northernminer.com | Frederic Tomesco

Canadian explorer Sitka Gold (TSX-V: SIG; OTCQB: SITKF) said assay results from drilling at its RC gold project in Yukon suggest the deposit could contain significant tonnage at greater depths than first thought. Hole 76 in the project’s Blackjack zone returned 94 metres grading 1.15 grams gold per tonne from 437 metres downhole, including 12.2 metres of 4.55 grams gold, Sitka said Thursday in a statement.

1 week ago | northernminer.com | Frederic Tomesco

Rio Tinto said its Diavik diamond mine in Canada’s Northwest Territories won an environmental award for its 3.5-megawatt solar power plant – about a year before the mine’s planned closure. Diavik received the national Towards Sustainable Mining Environmental Excellence Award, Rio Tinto said Tuesday. The award is given out annually by the Mining Association of Canada. Activated last July, the facility is the largest off-grid solar installation in Canada’s northern territories.

1 week ago | northernminer.com | Frederic Tomesco

Canadian explorer Collective Mining (TSX, NYSE: CNL) said it discovered gold and copper during early-stage drilling at its San Antonio project in Colombia. Hole SAC-11 returned 290.2 metres grading 0.58 gram per tonne gold, 0.17% copper, 3 grams silver and 70 parts per million (ppm) molybdenum from 549 metres downhole, Collective said Monday in a statement.

1 week ago | northernminer.com | Frederic Tomesco

Global utilities have their work cut out if they hope to secure enough uranium to meet demand over the next 20 years, Cameco (TSX: CCO; NYSE: CCJ) CEO Tim Gitzel said. Some 70% of utilities’ uranium needs through 2045 – about 3.2 billion lb. – remain uncovered, Gitzel said Thursday during a conference call. This includes about 1.3 billion lb. for which the source of annual primary production isn’t yet known, he said. “Full-cycle demand is durable and stronger than ever,” Gitzel told analysts.