Three major new mines are expected to open in the Canadian province this year, bringing new jobs and hundreds of millions of dollars in new investment in the province.
For the three months to June 30, silver production totalled 14.5 million ounces, a 12% rise from last year, while gold output was 223,000 ounces, up 2.7% from a year earlier.
Newmont Mining Corp handily beat quarterly profit estimates on Tuesday as production improved, more than offsetting the impact of lower realized gold prices, lifting the miner's shares as much as 7.7 percent to a five-month high.
Brazil's government will announce an increase in mining royalties and the creation of a new agency to regulate the industry in a bid to inject new life in Brazilian mining, three sources with knowledge of the matter told Reuters on Monday.
It now expects adjusted earnings per share to come in at $5, significantly higher than the $3.75 it had forecast just three months ago and almost doubled the $2.90 it had originally projected for the year.