GoGold Sells Santa Gertrudis to Agnico

GoGold Resources plans to sell interest in Santa Gertrudis gold project, located in Sonora, Mexico, to Agnico Eagle Mines Ltd. for $80 million in cash (minus an estimated working capital adjustment of $280,000 at the close of the transaction). GoGold will retain a 2% net smelter return on the project. While Agnico will have the option to buy 1% of the royalty for $7.5 million.

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Buenaventura Reaches Commercial Production at Tambomayo

The processing plant at the Tambomayo project located in Arequipa, which was commissioned in December 2016, has successfully completed the ramp up process, according to Compañia de Minas Buenaventura S.A.A., Peru’s largest publicly traded precious metals mining company. Tambomayo has operated at 1,500 tons per day (full capacity) for more than two weeks.

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Trump to Nominate Zatezalo to Lead MSHA

On September 2, U.S. President Donald J. Trump announced his intent to nominate David G. Zatezalo of West Virginia to be the assistant secretary of labor for Mine Safety and Health. Prior to his retirement as chairman of Rhino Resources GP LLC in late 2014, Zatezalo had served as president and CEO, and was previously COO of Rhino as well as president of Hopedale Mining LLC.

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Antamina Sets Zinc Production Record

The Peruvian newspaper El Comercio reported that the Antamina mine is producing record levels of zinc this year. Jorge Ghersi, vice president of operations at Antamina, estimated the operation will ship 365,000 metric tons (mt) of zinc in 2017, 73% more than in the previous year (210,000 mt). These expectations are in line with the mining plan.

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