Rio Tinto - RIO.z

Rio Tinto - RIO.z is a major producer of aluminium, copper, diamonds, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore.

71,000 people work in more than 40 countries across six continents.
On May 6, 2016 the company reported News

"Rio Tinto and its partners, the Government of Mongolia and Turquoise Hill Resources, have approved the next stage in the development of the world-class Oyu Tolgoi copper and gold mine in Mongolia. The development of the underground mine will start in mid-2016 following the approval of a $5.3 billion investment by the partners and the recent granting of all necessary permits.

First production from the underground, which has an average copper grade of 1.66 per cent, more than three times higher than the open pit, is expected in 2020. When the underground is fully ramped up in 2027, Oyu Tolgoi is expected to produce more than 500,000 tonnes of copper a year,1 compared with current annual production of 175,000-200,000 tonnes. The mine also benefits from significant gold by-products, with an average gold grade of 0.35 grams per tonne.



Pan American Silver Corp. - PAA.t

Pan American Silver Corp. - PAA.t is the second largest primary silver mining company in the world, with eight operating silver mines in Peru, Mexico, Argentina and Bolivia.

The Company produced 26.1 million ounces of silver and 161,500 ounces of gold in 2015 at AISC of $14.92 Oz Ag.

On April 26, 2016 the company released News

"Pan American Silver Corp. (NASDAQ: PAAS; TSX: PAA) ("Pan American" or the "Company") reports that the labour conflict with the union of mine workers at its Manantial Espejo mine, in the province of Santa Cruz, Argentina, has been resolved and that all production activities have resumed.

Pan American's Management believes that it will achieve its full-year consolidated production forecast of 24.0 million to 25.0 million ounces of silver, and 175,000 to 185,000 ounces of gold, during 2016.

About Pan American Silver

Pan American Silver's mission is to be the world's pre-eminent silver producer, with a reputation for excellence in discovery, engineering, innovation and sustainable development. The Company has seven operating mines in Mexico, Peru, Argentina and Bolivia. Pan American also owns several development projects in the USA, Mexico, Peru and Argentina. Pan American is located at 1500 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6.

Fresnillo PLC - FRES.l

Fresnillo PLC - FRES.l is the world’s largest primary silver producer and Mexico’s second largest gold producer.

Total resources measured indicated and inferred inclusive of reserves stand at 1.5 billion oz silver and 20.1m oz gold.

On April 13, 2016 the company released NEWS

"Production Report
for the three months ended 31 March 2016

·       Quarterly gold production of 230 koz, up 26.3% vs. 1Q15 and up 6.5% vs. 4Q15 mainly due to a higher speed of recovery at Herradura now steady state has been reached, and a higher speed of recovery at Noche Buena
·       Quarterly silver production of 12.2 moz (including Silverstream), broadly in line with 1Q15 and 4Q15
·       Third consecutive quarter of improvements in grade and production at the Fresnillo mine, evidence of progression of turnaround plan
·       Construction at San Julián remains on track. The leaching plant (stage 1) is expected to be commissioned in 2Q16 and the flotation plant (stage 2) in 4Q16
·       On track to achieve 2016 production guidance of 49-51 moz silver, (including 4.0 moz from the Silverstream), and 775-790 koz gold
Octavio Alvídrez, Chief Executive Officer, said:
"I am pleased to report a solid quarter of production, with 230 thousand ounces of gold and 12.2 million ounces of silver produced across our mines and from the Silverstream contract. In particular, we saw a significant improvement in grades at the Fresnillo mine during the quarter, to 236 grammes per tonne - the third consecutive quarter of improvement in both grade and production - as the turnaround at this mine progresses following the measures we have put in place. This continues to be a core area of focus for the Group.
Our San Julián project is advancing towards production, with commissioning of the first phase on track for the second quarter, and the second phase by the year end.
We continue to focus on maximising efficiency and productivity across all our mines, and are on course to meet our 2016 production guidance of 49-51 million ounces of silver and 775-790 thousand ounces of gold."
Total Production

1Q 16
1Q 15
% change
4Q 15
Silver (koz)
Silverstream (koz)
Total silver (koz)
Gold  (oz)
Lead (t)
Zinc (t)
Quarterly silver production (including the Silverstream) slightly decreased (1.7%) vs. 1Q15 as a result of the expected lower ore grade at Saucito due to the unusually high ore grade in 1Q15 (above reserve average). However, this was partly offset by higher ore throughput following the ramp up of Saucito II and the capacity increase achieved with the installation of vibrating screens at both Saucito I and II. Higher silver ore grades at Ciénega due to richer veins at the San Ramón satellite mine and development ore from the new Taspana vein, and higher ore grades at Fresnillo also supported production levels. Silver grades at Fresnillo reached 236 g/t in the quarter, the third consecutive quarter of improved grades and production levels as we see the results of the measures taken as part of the turnaround plan, and move gradually towards operating the Fresnillo beneficiation plant at full capacity once again.