Silver Top Stories

Silver Wheaton shares on a tear after record quarter

Streaming company ups production 29% in Q2 and CEO Randy…

Gold mine spill in Canada shines light on practice of avoiding environmental assessment

Pollution on a remote northern B.C. island only discovered after…

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Mercator production for two months exceeds projected Q2 2011 production guidance

Mercator Minerals is pleased to announce that that for the first two months of Q2 2011, the Company produced 7,538,130 pounds of copper and 1,128,674 pounds of molybdenum at its wholly owned Mineral Park mine in Arizona, as compared to total Q2 2011 production guidance for the months of April to June, given on March 8, 2011 of 10,163,548 pounds of copper and 1,033,558 pounds of molybdenum, representing 74% of the guided quarterly copper production and 109% of the guided quarterly molybdenum production during a period of two months of a three month quarter, with a full month of production to come. 

Minera Andes announces first quarter 2011 financial results and restated financial results for 2010

Minera Andes announced net income of $17.0 million ($0.06 per share basic and diluted) for the quarter ended March 31, 2011, an increase of $19.9 million compared to a net loss of $2.9 million ($0.01 per share loss basic and diluted), as restated, for the same period in 2010. The increase is primarily attributable to the strong performance of the San José Mine where our 49% ownership interest is reflected in our Income from Investment in Minera Santa Cruz S.A. ("MSC") which increased from $0.1 million in Q1 2010 to $11.7 million in Q1 2011. Comparing Q1 2011 to Q1 2010, silver ounces sold at MSC increased from 739,000 ounces ("oz") to 1,342,000 oz and gold ounces sold increased from 14,000 oz to 18,000 oz, reflecting increases of 82% and 29%, respectively.

With probable election of Humala as president, miners in Peru are in for bumpy ride

The rebranding of former fiery leftist Ollanta Humala apparently struck a chord with Peruvian voters as exit polls Sunday showed the former army commander is leading the race to become Peru's next president. The 48-year-old Humala declared victory late Sunday night in an apparently razor-thin win. He would succeed President Alan Garcia on July 28. Image from Agência Brasil under Creative Commons license.

Orvana announces commissioning of El Valle-Boinas/Carles gold/copper mine, northern Spain

Orvana Minerals announced the commissioning of its El Valle-Boinás/Carlés ("EVBC") gold-copper mine in northern Spain by Kinbauri España S.L.U. ("Kinbauri"), a wholly owned subsidiary of Orvana. EVBC initiated the start-up and commissioning of the mill May 31, 2011, with the first shipment expected in June. EVBC will initially produce at 70% capacity, increasing to its full annual target production levels of over 100,000 ounces gold, 3,900 tonnes copper and over 150,000 ounces of silver once the shaft is completed in early 2012.

Peru suspends mining concessions in several provinces

Peru's President Alan Garcia Perez and the Ministry of Energy and Mines have suspended mining concessions in several of the nation's provinces for the next 12 months. The President of the Council of Ministers Rosario Fernandez Figueroa said a multi-sectoral commission has been appointed to study and propose reforms regarding mining concessions.

Iberian Minerals announces purchase of net profit interest from Trafigura and $62 million “bought deal” financing

Iberian Minerals Corp. (TSX VENTURE:IZN) today announced that it has determined to exercise its right to purchase from Trafigura Beheer B.V. its 45.96% net profit interest in Compania Minera Condestable S.A. ("Condestable"), which is the subsidiary through which Iberian holds its approximately 98.73% interest in the Condestable Mine. In accordance with the terms of the CMC Purchase Agreement, Iberian retained the option to purchase the NPI from Trafigura at any time until June 30, 2011 in consideration of the payment of US$60,000,000 (the "NPI Buy-out").