Royal Nickel on a tear after northern Quebec find

Russia will seek to secure a priority right for the explored ocean minefields in the Atlantic says Polar Marine Geological Prospecting Expedition Vladimir Kryukov following the first stage of ore deposit exploration on the Atlantic Ocean floor. The Russian research vessel The Professor Logachev is engaged in exploring copper, zinc, gold and silver deposits in the area of the Mid-Atlantic Ridge at about 13 degrees north latitude. Over the last seven years, Russian marine geologists have made a number of discoveries and is now seeking to legally execute its right of exploring them through the United Nations.

The Silver demand in China is on up. Imports of silver to the China have reached new highs, and analysts maintain that demand for this year will only continue to grow. The growth comes not only from industrial and jewelry demand, but also from the increased investments in silver as a hedge against market losses and inflation.

Silvercorp Metals Inc. has achieved record silver production and record sales for the first quarter of fiscal 2012. Highlights

• Record revenues of $69.7-million (U.S.), representing a 90-per-cent increase compared with the same quarter of fiscal 2011;
• Record silver production of 1.6 million ounces, up 15 per cent from the same period a year ago;
• Gold production of 1,390 ounces, a 30-per-cent increase compared with the same period last year.

Reuters reported that Scorpio Mining's (TSE:SPM) second quarter silver recovery doubled. Continue reading... Image by Scorpio Mining

Shares in Canada’s Bear Creek Mining Corporation bounced by over 4% at the open on Wednesday after the company announced it was launching legal action against the Peruvian government to regain its license for a mining concession in the south of the country. Peru cancelled Bear Creek’s licence in late June after protests against the Santa Ana Silver project resulted in five people being killed by police at an international airport 160km away from the site. Bear Creek’s injunction comes weeks ahead of the swearing in of the South American nation’s new leftwing president Ollanta Humala (pictured).

Northgate Minerals announced on Wednesday that it will acquire Primero Mining for $370 million. The new company, which will have a combined market capitalization of approximately $1.2 billion, will be a mid-tier gold producer and will tie together the San Dimas mine in Mexico; the Fosterville and Stawell gold mines in Australia; and the Young-Davidson gold development project in Ontario.

Federal authorities have shut down 12 mines in northern Mexico after inspections spurred by an accident last month that claimed the lives of 14 workers, the labor department said. Inspectors have already visited 41 of the 100 sites on their list, the department said in a statement.

Precious metals miner Fresnillo plans to double output at its newly opened Saucito mine in central Mexico by 2015 or 2016 in a second phase of expansion, a company executive said on Tuesday. With the project and other expansion plans, Fresnillo is looking to overtake BHP Billiton, which produces more silver as a by-product from other metals, as the world's biggest overall silver producer. The company's eponymous mine is the world's largest primary silver mine which has been in near continuous operation since 1550.

Shares in Vancouver-based Great Panther Silver recovered early losses to trade in positive territory by midday Tuesday after the company reported disappointing silver output at its two 100%-owned silver and gold mines in Mexico. The counter opened down more than 3% before turning positive after announcing a 6% drop in silver production as a result of falling grades and unsold inventories at its Guanajuato operation which the company ascribes to an oversupply of concentrate on the world market. Silver Panther is still up 35% over the month after investors picked up the stock following record first quarter earnings.