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Gold News

Alacer completes Turkish Lira hedging contracts; eyes Çöpler capex saving

By: Henry Lazenby     21st July 2017 Turkey-focused miner Alacer Gold has completed foreign currency forward sales contracts to limit exposure to volatility of the Turkish Lira (TRY), the company announced on Friday. Alacer, which owns an 80%-stake and operates the country’s Çöpler mine, said the hedging programme covers about 40%... 

Atlantic Gold updates Fifteen Mile Stream, Cochrane Hill resource estimates

By: Henry Lazenby     21st July 2017 TSX-V-listed Atlantic Gold has updated the compliant mineral resource estimates for its 100%-owned Fifteen Mile Stream and Cochrane Hill gold deposits, Nova Scotia. The company has in June completed resource definition drilling programmes on 25 m x 20 m centres with the objective of upgrading... 

Tanzania's Magufuli threatens to shut mines if firms delay tax talks

By: Reuters     21st July 2017 Tanzania's President John Magufuli has threatened to close down all gold mines in the country if mining companies delay talks with his government aimed at resolving allegations of tax evasion. The announcement by Magufuli, nicknamed "the Bulldozer" for his forceful leadership style, marks a... 

Tanzania's Magufuli threatens to shut mines if firms delay tax talks
Tanzania President John Magufuli

Tanzania concentrate export ban weighs on Acacia’s H1 performance

By: Natasha Odendaal     21st July 2017 Tanzania’s ongoing concentrate export ban, implemented in March, has significantly impacted on LSE-listed Acacia Mining’s results for the first six months of the year. Despite delivering its highest-ever first-half production levels during the period to June, Acacia now expects production to stay... 

Record gold production from Regis Resources

By: Mariaan Webb     21st July 2017 Gold and nickel miner Regis Resources on Friday reported record fourth-quarter and full-year gold production as higher grade satellite mill feed continues to have a positive impact on production at its Duketon mine in Western Australia. Regis increased its production from 79 223 oz in the March... 

Moratorium infers intention to circumvent agreement – Leon

By: Martin Creamer     21st July 2017 The mineral rights moratorium gazette notice of Mineral Resources Minister Mosebenzi Zwane infers an intention to circumvent the underlying purpose of the agreement reached with the Chamber of Mines, Herbert Smith Freehills’ Africa partner and co-chair, Peter Leon, said on Friday. In particular,... 

Moratorium infers intention to circumvent agreement – Leon
Photo by Duane Daws
Herbert Smith Freehills’ Africa practice partner and co-chair Peter Leon

Deflector holds potential for new orebody – Doray

By: Mariaan Webb     21st July 2017 Western Australian gold miner Doray Minerals is in the early stages of potentially defining a new orebody at its Deflector mine, MD Leigh Junk said on Friday, as the company reported the results of follow-up drilling at Deflector North. Junk reported that the company had encountered “bonanza... 

Newcrest pours money into WA explorer to search for gold projects

By: Creamer Media Reporter      21st July 2017 Australian gold major Newcrest Mining will provide A$500 000 in funding to exploration company Encounter over the next 12 months to look for projects in northern Western Australia. The companies on Friday announced their project generation alliance, which will use Encounter’s project team to... 

Silver Lake reports strong production performance

By: Mariaan Webb     21st July 2017 Gold miner Silver Lake lifted its June quarter gold production by 37% quarter-on-quarter to 46 393 oz, taking full-year output to 148 244 oz – a 5% improvement on the previous year’s production performance. The company, which mines gold in the Mount Monger region of Western Australia, sold 37... 

Silver Lake reports strong production performance

Northern Superior returns exploration focus to TPK

By: Henry Lazenby     21st July 2017 Exploration junior Northern Superior Resources has initiated engagement protocols under its early exploration benefits agreement with the Neskantaga First Nation in parallel with its plans to restart exploration activities on its 100%-owned Ti-pi-haa-kaa-ning (TPK) project, in north-western... 

Sarama a step closer to receiving title to key Burkina Faso-based Bondi project

By: Henry Lazenby     21st July 2017 TSX-V-listed Sarama Resources on Thursday announced that the Burkina Faso Ministry of Mines and Quarries has issued an invoice, and Sarama has paid, for the transfer of the Djarkadougou exploration permit, which is host to the Bondi deposit. It is a critical part of Sarama’s growth strategy in... 

Charter’s BEE ‘top-up’ provision may be unconstitutional

     21st July 2017 The new “top-up” provision in the latest Mining Charter gazetted on June 15, may prove to be unconstitutional and may lead to further expensive legal action by the mining industry, states Fasken Martineau partner and global mining group member Nicola Jackson. In a statement published on June 15,... 

Charter’s BEE  ‘top-up’ provision may be unconstitutional
GOVERNMENT PAYING LIP SERVICE? The controversial Mining Charter’s new procurement targets stipulate that 80% of services be performed by black economic-empowerment entities

Gold refinery champions upliftment through beneficiation

By: Nadine James     21st July 2017 Precious-metal smelting and refining complex Rand Refinery is committed to its socioeconomic upliftment initiatives, which are intrinsically linked to and furthered by its core aim of refining and then creating saleable gold products, or gold beneficiation, states Rand Refinery CE Praveen... 

Gold refinery champions upliftment through beneficiation
CLASS OF 2015 The Ekurhuleni Jewellery Project has trained more than 50 people and assisted more than 20 incubatees since its inception in 2009

Lack of confidence in black businesses cripples development

By: Nadine James     21st July 2017 Materials handling and alternative mining solutions expert Ncamiso Mining is expanding its presence in Welkom, where it sees strong potential to grow and support local black-owned and black economic-empowerment (BEE) entities across the various needs of their operations in the area. However,... 

Lack of confidence in black businesses cripples development
SYMBIOTIC RELATIONSHIP The sharing of knowledge and experience would prove invaluable to black-owned companies and, ultimately, benefit all the businesses in the mining sector

Low-pressure hydraulic valve to offer adaptability

By: Marleny Arnoldi     21st July 2017 Valves manufacturer Hydromine Projects will take its latest in-development low pressure, pressure-reducing valve to market within the next two months, after ironing out the last issues during a recent trial period at a deep-level gold mine in Klerksdorp, in the North West. The design of the... 

Low-pressure  hydraulic valve  to offer adaptability
ALLEVIATING PRESSURE Hydromine Projects’ stainless steel pressure reducing stations maintain downstream pressures at a pipeline installation in Australia

Pilar mine

By: Thabi Madiba     21st July 2017 A gold mine located in the state of Goiás in central region of Brazil. 

Sharp Pan African gold production rise on way

By: Martin Creamer     20th July 2017 Gold-mining company Pan African Resources is looking forward to a much improved performance in 2018 with a substantial increase in gold production. The group’s gold production guidance for the financial year ending June 30, 2018, is 190 000 oz-plus, a 10% increase on 2017 gold production. 

Sharp Pan African gold production rise on way
Photo by Duane Daws
Pan African CEO Cobus Loots

Caledonia lowers FY17 output target on infrastructure constraints

By: Creamer Media Reporter      20th July 2017 Canadian gold miner Caledonia Mining has reduced its full-year production target to between 52 000 oz and 57 000 oz of gold, from the previously targeted 60 000 oz. The company’s Blanket mine, in Zimbabwe, produced 12 522 oz of gold in the quarter ended June 30, compared with the 12 510 oz... 

Dalradian surface drilling programme to enhance Curraghinalt project

By: Creamer Media Reporter      20th July 2017 Gold explorer and developer Dalradian Resources has started a 30 000-m surface drilling programme at its Curraghinalt project, in Northern Ireland, as part of its 2017 exploration programme. Five drill rigs were currently operating, the company reported on Thursday. 

Record gold for Evolution

By: Esmarie Swanepoel     20th July 2017 Gold miner Evolution Mining has reported record quarterly gold production during the three months to June, while hitting full-year production targets for the sixth consecutive year. Gold production during the June quarter reached 218 079 oz, which was up from the 202 926 oz produced in the March... 

Greenstone Gold partners submit environmental applications for Hardrock project

By: Henry Lazenby     20th July 2017 Joint venture (JV) partners Centerra Gold and Premier Gold Mines have submitted the environmental impact statement and environmental assessment (EIS/EA) to the Canadian Environmental Assessment Agency (CEAA) and the Ministry of the Environment and Climate Change (MOECC) to start the formal... 

Arbitrator grants some protective relief for Centerra in ongoing Kyrgyz legal saga

By: Henry Lazenby     19th July 2017 Canadian gold producer Centerra Gold has been granted some interim relief in its rolling arbitration against the Kyrgyz Republic and State miner Kyrgyzaltyn, regarding the Kumtor project. The TSX-listed miner reported on Wednesday that the arbitrator sided with the company, finding prima facie... 

Arbitrator grants some protective relief for Centerra in ongoing Kyrgyz legal saga
Centerra Gold's Kumtor gold mine, Kyrgyzstan

Ivanhoe appoints two more financiers to find funds for Platreef

By: Samantha Herbst     19th July 2017 Africa-focused platinum-group metals (PGM) miner Ivanhoe Mines has appointed mine-financing institutions KfW IPEX-Bank and the Swedish Export Credit Corporation (SEK) to arrange project financing for the development of the Platreef project in South Africa’s Limpopo province. The German... 

Ivanhoe appoints two more financiers to find funds for Platreef
Ivanhoe chairperson Robert Friedland

Shanta to review cost base in light of new legislation, higher royalties

By: Creamer Media Reporter      19th July 2017 East Africa-focused Shanta Gold is undertaking a business review of its operational and cost base in Tanzania, where it operates the New Luika mine, following the introduction of new legislation and higher royalty rates. The Tanzanian Parliament earlier this month enacted the Natural Wealth and... 

Shanta to review cost base in light of new legislation, higher royalties

Newcrest restarts production at Cadia East

By: Esmarie Swanepoel     19th July 2017 Australian gold miner Newcrest Mining has restarted production at the Panel Cave 2 (PC2) at its Cadia East mine, in New South Wales, after completing a test and response phase. The miner in June started the testing phase at PC2, after operations were suspended in April owing to a seismic event. 

Edikan delivers more gold for Perseus

By: Esmarie Swanepoel     19th July 2017 Dual-listed gold miner Perseus Mining has reported a 6% quarter-on-quarter increase in production from its Edikan gold mine, in Ghana. The Edikan operation produced 51 563 oz of gold during the June quarter, bringing half-year production to 100 218 oz. The half-year production was up 32%... 

Taseko gets multiyear ‘NOW’ permit for contentious New Prosperity mine

By: Henry Lazenby     19th July 2017 The provincial government of British Columbia has issued Taseko Mines with a multiyear Notice of Work (NOW) permit that will allow the base metals producer to undertake a site investigation programme at the New Prosperity gold/copper mine. The mine project, which has been nixed twice by the... 

Taseko gets multiyear ‘NOW’ permit for contentious New Prosperity mine
Photo by Reuters
First Nations demonstrators protesting against the proposed New Prosperity copper/gold project by proponent Taseko Mines

Petropavlovsk achieves 19% increase in H1 gold production

By: Anine Kilian     18th July 2017 Russia-focused gold miner Petropavlovsk’s gold production increased by 19% year-on-year to 232 400 oz in the six months ended June 30. The increase is supportive of the miner’s aim to produce between 420 000 oz and 460 000 oz for the full year.  

Hummingbird’s Yanfolila on track for first gold pour by year-end

By: Anine Kilian     18th July 2017 Construction at Hummingbird Resources’ Mali-based Yanfolila mine is progressing on schedule and within budget, with several aspects of development, including process design and detailed engineering, now complete. Updating shareholders on developments at the mine during the three months ended June... 

Congo central bank announces penalties for miners that fail to repatriate revenue

By: Reuters     18th July 2017 Democratic Republic of Congo's central bank has announced stiff new financial penalties for companies that fail to repatriate at least 40% of their revenues from mineral exports, a decree seen by Reuters on Tuesday showed. Congo, Africa's top copper producer, has been hit hard by low commodity... 

Ortac aims for commercial Slovak mine as it restarts project

By: Mariaan Webb     18th July 2017 Aim-listed Ortac Resources has restarting mining activities at the Šturec deposit, in Slovakia, which will allow the company to continue to work towards establishing a commercial mine in the Kremnica mining licence area. Restarting small scale mining activities fulfils a condition required by... 

Orvana achieves new quarterly gold production record

By: Creamer Media Reporter      18th July 2017 Gold and copper miner Orvana, which owns mines in Spain and Bolivia, has achieved a new quarterly consolidated gold production record of 26 414 oz in the third quarter of fiscal 2017. Consolidated gold equivalent production reached 35 292 oz in the quarter, a 27% improvement on the 27 683 oz... 

Orvana achieves new quarterly gold production record
The El Valle mine in northern Spain.

Gold at two-week high as cloudy US rate hike outlook drags on dollar

By: Reuters     18th July 2017 Gold prices rose to a two-week high on Tuesday as the dollar dipped to multi-month lows amid fading prospects of further rate hikes by the U.S. Federal Reserve this year and doubts whether President Donald Trump would be able to push through healthcare reforms. Asian shares stepped back from more... 

Gold at two-week high as cloudy US rate hike outlook drags on dollar

Production at Oyu Tolgoi remains steady at +3.5% q/q

By: Samantha Herbst     18th July 2017 Second-quarter production at Turquoise Hill Resources’ Oyu Tolgoi gold/copper mine, in Mongolia, proceeded as planned and remained steady quarter-on-quarter, the Vancouver-based miner revealed on Monday. Ore treated in the quarter was impacted by a scheduled five-day maintenance shutdown in May,... 

Production at Oyu Tolgoi remains steady at +3.5% q/q
Oyu Tolgoi mine, Mongolia

Kibali continues to deliver steady performance as it finalises full commissioning

By: Creamer Media Reporter      18th July 2017 The two remaining components of Randgold Resources’ Kibali gold mine – its underground shaft system and a third hydropower plant – are both on track. The underground shaft system is expected to be commissioned this quarter, with the underground mine to produce about 2.2-million tonnes of ore this... 

Banro’s lower gold output leaves year-end guidance out of reach

By: Natasha Odendaal     18th July 2017 Dual-listed Banro Corporation’s Twangiza and Namoya operations produced a combined 38 739 oz of gold during the second quarter of this year, bringing the year-to-date production to 84 954 oz of gold. The lower-than-expected gold production from both mines, along with the ongoing challenging... 

Musgrave takes full ownership of Cue

By: Esmarie Swanepoel     18th July 2017 ASX-listed Musgrave Minerals has exercised its pre-emptive rights over the Cue joint venture (JV), in Western Australia, taking full ownership of the project. In June, JV partner Silver Lake Resources announced that it had agreed to sell its interest in the project to fellow-listed Westgold... 

Bassari finds funding for Senegal project

By: Esmarie Swanepoel     18th July 2017 ASX-listed gold developer Bassari Resources has told shareholders that the company had negotiated a term sheet with the Senegal division of Coris Bank International to bring the Makabingui gold project into production. The $12-million funding facility will have an interest rate of 9% a year. 

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