Hi-Crush Voluntarily Files for Reorganization

Hi-Crush Partners LP of Houston, TX has entered into a restructuring support agreement with certain noteholders, collectively owning or controlling approximately 94% of the aggregate outstanding amount of the company’s 9.5% Senior Secured Notes due 2026. To implement the terms of the agreement, the company has voluntarily filed petitions for reorganization under Chapter 11 of...

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U.S. Silica Delivers Solid First Quarter Performance

U.S. Silica Holdings Inc of Katy, TX has reported a first quarter net loss of US72.3 million on revenue of US$269.6 million versus a net loss of US$19.3 million on revenue of US$378.8 million in the first quarter of 2019. Overall sand tons sold by the company were 4.16 million, a 14% decrease from the...

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Canadian Metals Refocuses on Silicon Metal Project

Canadian Metals Inc of Montreal, QC has assembled a new management team focused on progressing its silicon metal project in Baie Comeau, QC in anticipation of a full review and update of its industrial feasibility study. A review of the project last year determined that capital expenditure would be about CDN$380 million and that a...

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U.S. Silica Executives Take Temporary Pay Cuts

U.S Silica Holdings Inc of Katy, TX has announced temporary pay reductions for its top executives and board in response to the COVID-19 pandemic and expected lower oilfield well completion activity. The group have volunteered to take up to a 20% temporary base salary reduction. The duration of these reductions will be dictated by market...

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AMI Advances Duvernay Frac Sand Project

Athabasca Minerals Inc (AMI) of Edmonton, AB states that following the signing of a five-year Offtake Agreement with Shell Canada for AMI Silica’s premium domestic sand, the subsidiary continues to advance its Duvernay Project. In collaboration with a pending industrial partner, a competitive tender has been issued to five pre-qualified contractors in Canada and the...

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