Overall Silver Mine Production Drops in 2016

Global silver mine production in 2016 recorded its first decline since 2002, largely the result of lower by-product output from the lead/zinc and gold sectors. With less silver scrap supply, which posted its lowest level since 1996, and a contraction in producer hedging, total silver supply decreased by 32.6 million oz in 2016. Moreover, new highs were recorded for silver’s use in the photovoltaic and ethylene oxide sectors, both growing and significant industrial applications for silver. These findings, and other key components of the silver market, are discussed in World Silver Survey 2017, released recently by the Silver Institute and produced on its behalf by the GFMS Team at Thomson Reuters.

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Newmont Invests in Continental’s Colombian Gold Project

Newmont Mining will invest approximately $109 million for 19.9% ownership of Continental Gold, supporting the near-term development of the high grade Buriticá gold project in Colombia. The investment also covers three other exploration assets in this prospective gold district.

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Teck Provides Update on Highland Valley

Teck Resources reported earlier this week that unusual spring weather conditions and rapid snow melt resulted in water inflow into the Lornex and Valley pits at its Highland Valley Copper Operations (HVC), located 50 km southwest of Kamloops in British Columbia. As a precautionary measure, mining was temporarily suspended in the affected areas.

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K+S Celebrates Grand Opening of the Bethune Potash Mine

Dignitaries gathered this week in Bethune, Saskatchewan, to celebrate the opening of a new K+S potash mine in Canada. During the ceremony, the new mine was officially handed over to the operations team. The five-year construction phase has been successfully completed and the first ton of marketable potash is expected to be produced in June as planned.

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