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OceanaGold and Romarco union to create lowest-cost global gold producer

By: Henry Lazenby     Updated 5 minutes ago Triple-listed OceanaGold has agreed to buy Canadian project developer Romarco Gold in an all-scrip deal valued at about C$856-million, which upon closing, would create the lowest-cost global gold producer. Romarco's main asset was the Haile gold mine, located in South Carolina, which was a... 

OceanaGold and Romarco union to create lowest-cost global gold producer
Photo by Romarco Minerals
Haile, South Carolina.

Gold producers table final three-year wage offers

By: Megan van Wyngaardt     Updated 26 minutes ago Gold producers AngloGold Ashanti, Evander Gold Mines, Harmony Gold and Sibanye Gold have tabled their final three-year offers for wage and benefit increases to representative unions, the Association of Mining and Construction Union (AMCU), the National Union of Mineworkers (NUM), Solidarity and... 

Lonmin: victim of price falls and management wobbles

By: Reuters     Updated 52 minutes ago Platinum producer Lonmin is facing its deepest crisis to date, hurt by a downturn in the metal and haunted by a mixture of bad luck and debatable management choices that are putting its survival at risk. Times are tough for everyone in the platinum sector. 

Northam, NUM reach wage settlement

By: Creamer Media Reporter      Updated 1 hour 49 minutes ago Platinum producer Northam Platinum has inked a three-year wage agreement with the National Union of Mineworkers (NUM) for workers at the Zondereinde mine, in Limpopo. Entry-level underground employees would be provided a 13% basic wage and allowance increase in the first year, followed by... 

As gold price falls, miners pick derivatives to protect income

By: Reuters     Updated 1 hour 51 minutes ago Gold mining companies are turning increasingly to derivatives to lock in future revenues, as an industry still smarting from losing out on a 12-year bull run gets creative over protecting its income during the metal's current downturn. While miners overall remain wary of hedging -- the... 

Guidelines needed to eliminate confusion between artisanal, illegal mining

By: Creamer Media Reporter      Updated 2 hours ago Creamer Media's Leandi Kolver speaks to senior staff writer Zandile Mavuso about the clear policy guidelines that are needed to eliminate the confusion between artisanal and illegal mining. 

Guidelines needed to eliminate confusion between artisanal, illegal mining

India's jewellery exports can quintuple to $40bn if controls tightened

By: Reuters     Updated 3 hours ago India's gold jewellery exports could jump five times to $40-billion per year by 2020 if quality controls are tightened, the World Gold Council (WGC) said, adding the country is punching below its weight due to questions over the purity of its products. Mom-and-pop shops employing generational... 

First Quantum idles Sentinel to operate Kansanshi at capacity amid power reductions

By: Natasha Odendaal     Updated 3 hours ago Aim- and TSX-listed First Quantum Minerals has idled its Sentinel processing plant and redirected its power supply to enable its Kansanshi mine to operate as close to capacity as possible and maintain its development momentum, as Zambia’s power utility imposes power restrictions on mines in the... 

First Quantum idles Sentinel to operate Kansanshi at capacity amid power reductions

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