News Archive


"At no time has the rainwater had …any contamination from industrial activities"

The embattled miner said central Peru was experiencing exceptionally heavy rains and said a diversion ditch, designed to keep rainwater out of Shahuindo’s industrial area, had overflowed upstream of the permitted discharge point.

“At no time has the rainwater had any contact with process water or any contamination from industrial activities,” Tahoe said.

Striking it right in Guyana

Striking it right in Guyana


RESOURCEStocks Southern Gold QA: Simon Mitchell

RESOURCEStocks Southern Gold QA: Simon Mitchell


RESOURCEStocks QA: Westgold's Peter Cook

RESOURCEStocks QA: Westgold’s Peter Cook





“The Agency for Environmental Assessment and Control (OEFA) visited Shahuindo to investigate an unfounded complaint that the leach pond was compromised, has taken water and sediment samples, and is conducting a normal course investigation to verify there is no contamination.”

The company said it had been helping nearby communities impacted by the heavy rain and had provided heavy equipment to clear roads and clean mud from community facilities, along with humanitarian support such as bottled water.

Shahuindo is expected to reach full production of 36,000 tonnes per day in the second half of 2018.

It produced 79,000 ounces of the company’s total gold production of 445,000oz in 2017 as the company underscored its gold sector’s “increasingly meaningful contribution”.

The company last week cut 25% of the workforce at its flagship mine, the Escobal silver mine in Guatemala, which has been subject to a long-running blockade and remains in limbo pending a court decision over its mining licence.

Tahoe shares, which were trading above C$12 a year ago, fell more than 3% on Friday to $5.56, 25c above a 52-week low.

Article source: http://www.mining-journal.com/gold-and-silver/news/1310937/%E2%80%9C-rainwater-%E2%80%A6-contamination-industrial-activities

Metanor likes the look of Barry

The company is working to increase the size of its camp to accommodate a bigger exploration programme and allow it to start bulk sampling as scheduled on March 1.

Highlights from the latest drilling results included 4.6m at 14.3g/t gold from 498m and 4.5m at 10.4g/t from 367.5m.

Country Investment Profile - Finland

Country Investment Profile – Finland


RESOURCEStocks QA: Mustang's Christiaan Jordaan

RESOURCEStocks QA: Mustang’s Christiaan Jordaan


PolarX marks its spot

PolarX marks its spot


Striking it right in Guyana

Striking it right in Guyana


The pure play cobalt vehicle

The pure play cobalt vehicle





CEO Greg Gibson said being able to access the underground from the existing pit, which was mined about 10 years ago, meant reduced drilling costs and more precise data collection.

Metanor plans to send 10,000 tonnes of ore from the bulk sampling programme to its Bachelor mill, 110km to the north, later this year to reconcile mill head grade with the mining grade in a defined sector.

The company raised more than C$11.3 million in a brokered private placement in late December, with Kirkland Lake Gold (CN:KL) and Wexford Capital increasing their stakes and will each hold more than 17% on a partially diluted basis, assuming the exercise of their warrants.

Metanor shares, which have ranged between C60c-$1.29 over the past year, rose almost 5.5% to C77c.

Article source: http://www.mining-journal.com/resource-definition/news/1310930/metanor-likes-look-barry

The lithium shake up

Which comes first, the lithium or the electric vehicles (EV)? That might sound like a variation of the classic question about the chicken or the egg, but it is more important than that and not knowing the correct answer could cost investors dearly, as happened late last week when lithium company share prices fell sharply.

Article source: http://www.mining-journal.com/miner-s-right/opinion/1310929/lithium-shake

Facebook to open digital training hubs in Europe

BRUSSELS (Reuters) – Facebook (FB.O) said on Monday it will open three new centers in Europe to train people in digital skills and committed to training one million people over the next two years, part of the social media giant’s drive to show its contribution to the bloc.

The U.S. company – which has faced regulatory pressure in Europe over issues ranging from privacy to antitrust – said it would open three “community skills hubs” in Spain, Poland and Italy as well as investing 10 million euros ($12.2 million) in France through its artificial intelligence research facility.

“People are worried that the digital revolution is leaving people behind and we want to make sure that we’re investing in digital skills to get people the skills they need to fully participate in the digital economy,” Sheryl Sandberg, Facebook’s chief operating officer, told Reuters.

The community hubs will offer training in digital skills, media literacy and online safety to groups with limited access to technology, including old people, the young and refugees.

Facebook also committed to having trained one million people and business owners by 2020.

“Absolutely we want to make sure that people see that we are investing locally, we’re investing in technology, we’re investing in humans,” Sandberg said.

Facebook’s move comes as EU states discuss proposals to raise the tax bill of tech multinationals after pressure from large states that accuse firms like Amazon (AMZN.O), Google (GOOGL.O), Apple (AAPL.O) and Facebook of slashing their tax bills by re-routing their EU profits to low-tax countries such as Luxembourg and Ireland.

Smaller EU countries, like Luxembourg or Malta, argue that a solo EU move on corporate tax reform would damage its economy and favor competitors.

European Union states could have lost 5.4 billion euros in tax revenues from Google and Facebook between 2013 and 2015, according to a report by an EU lawmaker last year.

Facebook executives are fanning out across Europe this week to address the social media giant’s slow response to abuses on its platform, seeking to avoid further legislation along the lines of a new hate speech law in Germany it says goes too far.

Through its Community Boost EU program, Facebook will work with small businesses and start-ups to help them grow and hire.

It said it would conduct in-person training for 100,000 small- and medium-sized businesses by 2020 and online training for 250,000 businesses.

“What we’re finding is when small businesses use technology, when small businesses use Facebook, they hire,” Sandberg said.

The European Union’s executive has stressed the need to boost Europeans’ digital skills to help bring down unemployment and enable Europe to create its own digital giant.

Facebook has opened similar centers in countries such as Nigeria and Brazil.

Reporting by Julia Fioretti; Editing by Adrian Croft

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/u5Ie0uC7BU8/facebook-to-open-digital-training-hubs-in-europe-idUSKBN1FA179

Contrite Facebook executives seek to ward off more European rules

MUNICH (Reuters) – Facebook executives are fanning out across Europe this week to address the social media giant’s slow response to abuses on its platform, seeking to avoid further legislation along the lines of a new hate speech law in Germany it says goes too far.

Facebook’s communications and public policy chief used an annual meeting in Munich of some of Europe and Silicon Valley’s tech elite to apologize for failing to do more, earlier, to fight hate speech and foreign influence campaigns on Facebook.

“We have to demonstrate we can bring people together and build stronger communities,” the executive, Elliot Schrage, said of the world’s biggest information-sharing platform, which has more than 2 billion monthly users.

“We have over-invested in building new experiences and under-invested in preventing abuses,” he said in a keynote speech at the DLD Munich conference on Sunday.

In the United States, lawmakers have criticized Facebook for failing to stop Russian operatives using its platform to meddle in the 2016 presidential elections, while Britain’s parliament is looking again at the role such manipulation may have played in Britain’s Brexit vote to leave the European Union.

(reut.rs/2FZJlXB) ((reut.rs/2y9i98F)

A German law that took effect at the start of the year requires social networks such as Facebook, Google and Twitter to remove online hate speech or face heavy fines. (reut.rs/2rm6AI2)

“It sets forth the right idea for the relation between government and the private sector but it also goes farther than … we think it should go,” Schrage said of the law.

”At the same time the law places the responsibility on us to be judge and jury and enforcer determining what is legally compliant and not. I think that is a bad idea.

“The challenge is how to define where the violation has been or not,” he said.

By contrast, Schrage praised the approach of the European Union in demanding that internet companies adhere to a code of conduct and respond quickly to requests to take down illegal content rather than being required to make those decisions themselves.

“That’s an example of how we can work with governments to be more responsive to their concerns,” Schrage said of the EU.

The EU has put internet companies on notice that it will legislate if they don’t do a better job self-policing their services for extremist propaganda, hate speech and other abuses. (reut.rs/2DmXGeU)

NO WILD WEST

Far from being a “Wild West of content”, Schrage argued, Facebook’s policies on policing content are far more in line with Europe’s strict boundaries governing hate speech than the anything-goes reputation it has coming from Silicon Valley.

“We are often criticised for being an American company. But our policies with respect to speech and expression are much closer to how the standards have evolved in Europe than they are in the United States,” Schrage said.

“We do not permit hate speech, we do not permit incitement. There is a tremendous amount of content we remove regularly. When we see content related to terrorism, to hate speech, to incitement, we reach out to law enforcement,” he said.

But several tech leaders in the audience said Facebook had long ignored what are effectively editorial responsibilities for policing abusive content on its platform.

Schrage said Facebook now employed thousands of people to monitor content and to work more closely with law enforcement, while automated algorithms detect and delete 99 percent of Islamic State and al Qaeda content before any Facebook users ever see it.

Paul-Bernhard Kallen, chief executive of Hubert Burda Media, one of Germany’s largest publishers, said Facebook has avoided responsibility for moderating content on its platform.

“From my perspective, Facebook is a media company. One way or the other, Facebook should accept it,” Kallen said of taking more control over content or facing regulatory demands to do so.

Facebook Chief Operating Officer Sheryl Sandberg is meeting policymakers in Paris and Brussels, while Schrage is touring Germany. Later this week they will converge on Davos, the annual policy gathering of world politicians, business chiefs, bankers and celebrities taking place in the Swiss Alps.

Facebook founder and chief executive Mark Zuckerberg, who has declared earlier this year that his 2018 goal is to “fix” Facebook, is staying home (reut.rs/2F2w8g6).

Reporting by Eric Auchard and Douglas Busvine in Munich; Editing by Adrian Croft

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/Fb_HZ9x3JI4/contrite-facebook-executives-seek-to-ward-off-more-european-rules-idUSKBN1FA0SH

Amazon’s automated grocery store of the future opens Monday

SEATTLE (Reuters) – Amazon.com Inc (AMZN.O) will open its checkout-free grocery store to the public on Monday after more than a year of testing, the company said, moving forward on an experiment that could dramatically alter brick-and-mortar retail.

The Seattle store, known as Amazon Go, relies on cameras and sensors to track what shoppers remove from the shelves, and what they put back. Cash registers and checkout lines become superfluous – customers are billed after leaving the store using credit cards on file.

For grocers, the store’s opening heralds another potential disruption at the hands of the world’s largest online retailer, which bought high-end supermarket chain Whole Foods Market last year for $13.7 billion. Long lines can deter shoppers, so a company that figures out how to eradicate wait times will have an advantage.

Amazon did not discuss if or when it will add more Go locations, and reiterated it has no plans to add the technology to the larger and more complex Whole Foods stores.

The convenience-style store opened to Amazon employees on Dec. 5, 2016 in a test phase. At the time, Amazon said it expected members of the public could begin using the store in early 2017.

But there have been challenges, according to a person familiar with the matter. These included correctly identifying shoppers with similar body types, the person said. When children were brought into the store during the trial, they caused havoc by moving items to incorrect places, the person added.

Gianna Puerini, vice president of Amazon Go, said in an interview that the store worked very well throughout the test phase, thanks to four years of prior legwork.

“This technology didn’t exist,” Puerini said, walking through the Seattle store. “It was really advancing the state of the art of computer vision and machine learning.”

“If you look at these products, you can see they’re super similar,” she said of two near-identical Starbucks drinks next to each other on a shelf. One had light cream and the other had regular, and Amazon’s technology learned to tell them apart.

HOW IT WORKS

The 1800-square-foot (167-square-meter) store is located in an Amazon office building. To start shopping, customers must scan an Amazon Go smartphone app and pass through a gated turnstile.

Ready-to-eat lunch items greet shoppers when they enter. Deeper into the store, shoppers can find a small selection of grocery items, including meats and meal kits. An Amazon employee checks IDs in the store’s wine and beer section.

Sleek black cameras monitoring from above and weight sensors in the shelves help Amazon determine exactly what people take.

If someone passes back through the gates with an item, his or her associated account is charged. If a shopper puts an item back on the shelf, Amazon removes it from his or her virtual cart.

Much of the store will feel familiar to shoppers, aside from the check-out process. Amazon, famous for dynamic pricing online, has printed price tags just as traditional brick-and-mortar stores do.

Reporting by Jeffrey Dastin in Seattle; Editing by Jonathan Weber and Rosalba O’Brien

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/H49RZPIBOs8/amazons-automated-grocery-store-of-the-future-opens-monday-idUSKBN1FA0RL

Audi ordered to recall 127,000 vehicles over emissions: paper

FRANKFURT (Reuters) – Germany’s KBA automotive watchdog has detected illicit emission-control software in Audi’s (NSUG.DE) latest Euro-6 diesel models and has ordered a recall of 127,000 vehicles, Bild am Sonntag reported.

Audi, a unit of Volkswagen (VOWG_p.DE), said in a statement that the models had been included in a voluntary recall of 850,000 diesel vehicles with V6 and V8 TDI engines announced in July.

“The engine control software for the vehicles in question will be completely revised, tested and submitted to the KBA for approval”, Audi said in its statement.

It did not confirm more details of KBA’s request.

Bild am Sonntag said road transport authority KBA had told Audi to respond by Feb. 2 on how it plans to update vehicle software controlling emissions, making sure the cars are unable to illegally manipulate emission controls.

Audi said it has been examining its diesel-fuelled cars for potential irregularities for months in close cooperation with the KBA.

“As part of this systematic and detailed assessment, the KBA has now also issued a notice regarding Audi models with V6 TDI engines,” the carmaker added.

In November, Audi announced a recall of 5,000 cars in Europe for a software fix after discovering they emitted too much nitrogen oxide, the polluting gas that parent Volkswagen concealed from U.S. regulators in its devastating 2015 “dieselgate” scandal.

Volkswagen was found in 2015 to have illegally manipulated engine software so that vehicles would meet nitrogen oxide (NOx) emissions standards in laboratory testing but not in real-world conditions, where they could emit up to 40 times the permitted levels.

Several Audi models were affected and Audi has been accused in media reports of having devised the so-called defeat devices years earlier but not to have installed them in its vehicles at that time. Audi and Volkswagen have never commented on the matter.

Reporting by Arno Schuetze; Editing by Susan Fenton

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/0zcF8KWGQT8/audi-ordered-to-recall-127000-vehicles-over-emissions-paper-idUSKBN1FA0GR

Oil producers will cooperate beyond 2018, says Saudi Arabia

MUSCAT (Reuters) – Global oil producers are in agreement that they should continue cooperating on production after their deal on supply cuts expires at the end of this year, Saudi Arabia’s energy minister Khalid al-Falih said on Sunday.

It was the first time Saudi Arabia, the world’s top oil exporter, had publicly stated OPEC and non-OPEC producers would keep cooperating after 2018.

The exact mechanism for cooperation next year has not yet been decided, Falih said, but if oil inventories increase in 2018 as some in the market expect, producers might have to consider rolling the supply cut deal into next year.

“There is a readiness to continue cooperation beyond 2018… The mechanism hasn’t been determined yet, but there is a consensus to continue,” Falih said after a meeting of the joint ministerial committee which oversees implementation of the cuts.

The committee comprises Saudi Arabia, Kuwait, Venezuela and Algeria, plus non-OPEC producers Russia and Oman. The United Arab Emirates was also present on Sunday as it holds the presidency of OPEC.

Before the meeting, Falih said extending the cooperation framework beyond 2018 wouldn’t necessarily mean sticking to countries’ current production targets.

The agreement was launched last January and Saudi Arabia has accounted for by far the largest share of the output cuts.

Falih said a deal on production levels after 2018 would be about “assuring stakeholders, investors, consumers and the global community that this is something that is here to stay. And we are going to work together.”

Kuwait’s oil minister Bakheet al-Rashidi said Sunday’s meeting focused on compliance with the current agreement on output cuts, and discussion of the deal’s future was expected to occur in June, when OPEC and other producers led by Russia are next scheduled to meet on oil policy.

Oman’s oil minister Mohammed bin Hamad al-Rumhi said producers would discuss in November whether to renew their supply agreement or enter a new type of agreement. Oman is in favor of a new deal, he said without elaborating.

Falih said the global economy had strengthened while the supply cuts had shrunk oil inventories around the world. As a result, the oil market was on course to rebalance towards the end of 2018 or in 2019, he said.

But he stressed that producers still had a lot of hard work ahead to restore the market to health, and it was uncertain whether the current pace of the drawdown in oil inventories would continue in months to come.

“We are entering a low demand period seasonally, and we have to let that pass and see how inventories look in the second half before we consider any alteration” to current policy, he said.

Falih and energy ministers from the UAE and Oman noted that the rise of the Brent oil price to three-year highs around $70 a barrel in recent weeks could cause an increase in supply of shale oil from the United States.

But both Falih and UAE minister Suhail al-Mazroui said they did not think the rise in prices would hurt global demand for oil.

OPEC has a self-imposed goal of bringing oil inventories in industrialized countries down to their five-year average. But Falih said that identifying the exact target for inventories had yet to be discussed by producers, and it might only become clearer in June.

“I don’t think that we are going to reach our target anytime soon, certainly not in the first half,” he told reporters before Sunday’s meeting.

”I think we have to identify more clearly what is the normal level because five-year average – which five-year? The longer we wait to reach that target, the more the running five-year average increases and represents bloated inventories.

“I think one of the things we need to define in the next few months, before we meet in June, is what is the real target more precisely, and that is work that still needs to be done, and we still need to reach a consensus.”

Falih said the overall compliance of OPEC and non-OPEC nations with the production cuts was 129 percent in December. The next meeting of the joint ministerial committee overseeing implementation of the cuts will be held in April in Saudi Arabia, an OPEC statement said.

Writing by Andrew Torchia; Editing by Susan Fenton

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/MJHqpf-diQo/oil-producers-will-cooperate-beyond-2018-says-saudi-arabia-idUSKBN1FA05B

SoFi in talks with top Twitter exec about CEO position: WSJ

(Reuters) – Social Finance Inc (SoFi) is in discussions with Anthony Noto, a top Twitter Inc (TWTR.N) executive, to become the online lender’s chief executive, the Wall Street Journal reported on Saturday, citing sources.

Noto, Twitter’s chief operating officer, has been offered the CEO position at SoFi, the report said, and was expected to make a decision in the coming days.

SoFi, one of the most valuable private financial technology startups in the United States, has been without a CEO for a quarter of a year, since Mike Cagney stepped down amid a lawsuit that alleged that he presided over a hostile work environment for women.

Twitter on Saturday evening declined to comment and SoFi did not immediately respond to inquires by Reuters.

(This version of the story refiles to add slug for media clients. No changes in text.)

Reporting by Bernie Woodall in Fort Lauderdale, Fla.; Editing by Alistair Bell

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/xXsepXlk1VM/sofi-in-talks-with-top-twitter-exec-about-ceo-position-wsj-idUSKBN1FA011