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Shanta to undertake additional drilling at New Luika

By: Creamer Media Reporter      Updated 7 minutes ago East Africa-focused Shanta Gold will undertake 5 000 m of additional drilling to further optimise the bankable feasibility study and decrease the risk profile of the planned life-of-mine (LoM) extension at its New Luika gold mine, in south-western Tanzania. In October, Shanta said it had... 

Glencore invests in Congo hydropower as solution to blackouts

By: Reuters     Updated 48 minutes ago Glencore and its partner in Congo are ploughing $360-million into refurbishing the African nation's main hydroelectric plant as mining companies seek ways to overcome power shortages that are holding back projects. Mining investment has poured into Democratic Republic of Congo since 2006, after... 

Gokona underground mine gets green light, first ore expected H1 2015

By: Natasha Odendaal     Updated 2 hours 5 minutes ago The final applications to secure permits to start underground mining at the Gokona pit at North Mara, in Tanzania, were set to be submitted after the board of the newly renamed Acacia Mining approved the project’s definitive feasibility study. The gold miner, formerly called African Barrick Gold,... 

Aurelia cuts the ribbons at Hera

By: Esmarie Swanepoel     Updated 2 hours 20 minutes ago Junior metals producer Aurela Metals has formally opened its Hera mine, in New South Wales, some two months after the first gold was poured. The flagship project consists of the high-grade underground Hera gold/lead/zinc/silver mine and the Nymagee copper deposit. Hera is expected to produce... 

Allied Nevada optimises Phase 1 of Hycroft mill expansion

By: Mariaan Webb US precious metals miner Allied Nevada Gold has lowered the cost of the first phase of its Hycroft mill expansion project by reviewing the construction sequence of infrastructure and other components. The company said on Wednesday that it could begin operation of the first line of the mill for a... 

Allied Nevada optimises Phase 1 of Hycroft mill expansion

ABG shareholders approve name change to Acacia Mining

By: Leandi Kolver African Barrick Gold (ABG) shareholders on Wednesday voted in favour of the company’s proposed name change to Acacia Mining, with the new name to come into effect on Thursday. ABG earlier this month explained that its core objective was to develop a business that was recognised as a leading... 

Osisko buys more shares in Virginia Mines

By: Natasha Odendaal As TSX-listed Osisko Gold Royalties geared up to combine its business with TSX-listed Virginia Mines, the Montreal-headquartered gold-focused royalty and stream company acquired a further one-million shares in Virginia Mines. Osisko, which still had to complete the acquisition of 2.38-million... 

Rochester royalty earns Rye Patch $2.61m in first nine months of 2014

By: Creamer Media Reporter Junior miner Rye Patch on Wednesday said the Rochester mine net smelter return (NSR) had earned it $2.61-million, or about C$2.85-million, in the first three quarters of this year. The Rochester mine paid a 3.4% NSR royalty quarterly to Rye Patch on each ounce of silver and gold produced and sold. 

Klondex Mines receives $10.3m from the exercise of warrants

By: Creamer Media Reporter Nevada-focused narrow-vein gold miner Klondex Mines has raised $10.3-million through the exercise of warrants by shareholders during October and November. About 5.86-million common share purchase warrants were exercised at a price of $1.75 a share. 

WPG buys out JV partner in Tunkillia gold project

By: Esmarie Swanepoel Junior developer WPG Resources has taken full ownership of the Tunkillia gold project, in South Australia, after reaching an agreement with joint venture partner Helix Resources. WPG acquired a 70% shareholding in the Tunkillia project at the end of May this year, through a transaction with... 

Golden Queen says California precious metals project on schedule

By: Creamer Media Reporter The Soledad Mountain gold and silver project near Mojave, in California, is proceeding on schedule, with processing facilities set to be commissioned in late 2015, TSX-listed Golden Queen Mining reported on Tuesday. The Vancouver-based company said its 50%-owned subsidiary, Golden Queen Mining... 

RNI confirms funding talks for Grosvenor

By: Esmarie Swanepoel Gold hopeful RNI on Wednesday told shareholders that it had received various financing proposals for its Grosvenor project, in Western Australia. The company noted that the proposals included the financing required to bring the Grosvenor project into production, as well as to repay RNI’s... 

Kobada scoping study demonstrates robust project economics

By: Leandi Kolver TSX-V-listed African Gold Group on Tuesday announced the completion of a scoping study and an updated preliminary economic assessment (PEA) for its Kobada gold project, in Mali, demonstrating low capital expenditure requirements and high returns. African Gold said the scoping study demonstrated... 

Early start at Syama plant, but further mining deferred

By: Esmarie Swanepoel Gold miner Resolute Mining on Tuesday announced that it was running ahead of schedule at the Syama gold operation, in Mali, after the oxide circuit was commissioned two months ahead of expectations. Wet commissioning of the carbon-in-leach section of the oxide circuit was completed in September,... 

New Brazil explorer one to watch, says analyst

By: Natalie Greve Natural resources company Brazil Minerals' commercial strategy of increasing its percentage of polished diamonds sold as opposed to rough diamonds was paying major dividends, as evidenced by the creation of new sales channels and sales in Brazil and the US, stock market research firm Goldman... 

Orezone on schedule to deliver Bomboré feasibility study by Q1 2015

By: Leandi Kolver TSX-listed Orezone Gold Corporation was on schedule to complete the feasibility study of its Bomboré gold project, in Burkina Faso, during the first quarter of next year, after which it would apply for a mining permit to develop the project during the second quarter, COO Tim Miller said on... 

Peru crackdown on illegal gold leads to new smuggling routes

By: Reuters A crackdown on illegal gold mining in Peru has spawned new smuggling routes through its porous border with Bolivia with some gangs using human mules, armored cars and light aircraft to evade capture. The gold is ghosted across jungles, rainforest and Lake Titicaca on the mountainous border, and... 

Goldcorp signs resource development agreement with four First Nations

By: Creamer Media Reporter Vancouver-headquartered Goldcorp has signed a resource development agreement with four First Nations communities, providing a framework for consultation on existing and future operations in the Timmins area, in Ontario. The TSX-listed company said on Monday that the agreement concluded five... 

Burkina Faso gold project sold to Alecto

By: Leandi Kolver TSX-V-listed Kaizen Discovery on Monday announced that it had completed the sale of its Kerboulé gold project, in Burkina Faso, to Alecto Minerals. Kaizer had received 55-million common shares in Alecto as part of the sales consideration. 

Worker killed at Jaguar Mining’s Turmalina mine

By: Creamer Media Reporter An employee was killed at TSX- and NYSE-listed Jaguar Mining’s Turmalina mine, in Minas Gerais, Brazil, on Friday. The incident occurred in the underground workings of the Turmalina mine. 

A1 buys Octagonal gold project

By: Esmarie Swanepoel ASX-listed junior A1 Consolidated Gold has inked an agreement with fellow-listed Octagonal Resources to acquire the Maldon gold project, in Victoria. In exchange for the project, Octagonal would receive A$5.1-million in A1 Gold shares, with the shares priced at 3c each, as well as 1:3 listed A1... 

Nevsun denies Bisha human rights allegations in lawsuit

By: Creamer Media Reporter A lawsuit has been filed against Vancouver-based mining company Nevsun Resources in the British Columbia Supreme Court by three individuals who claim to have once worked with a local subcontractor at the Bisha mine, in Eritrea, on the Horn of Africa. The TSX-listed company said on Friday that the... 

Nevsun denies Bisha human rights allegations in lawsuit

CRG inks second MoU for possible subsidiary sale

By: Natalie Greve Just over a week after entering into a nonbinding memorandum of understanding (MoU) with the Hiria Group, local gold producer Central Rand Gold (CRG) said on Friday that it had inked a separate MoU with Phoenix Tree Investment Group subsidiary Beijing Ankong Investment. The Ankong MOU, which was... 

Sandfire to invest strongly in organic growth – chair

By: Esmarie Swanepoel Copper/gold miner Sandfire Resources was committed to spending cash to increase production, despite the depressed commodity market, nonexecutive chairperson Derek La Ferla has told shareholders. Speaking at the company’s annual general meeting, La Ferla this week said the company would deploy... 

Kingsrose downgrades production expectations

By: Esmarie Swanepoel Gold miner Kingsrose Mining has downgraded its production expectations at the Talang Santo mine, in Indonesia, as the company deferred the mining of high-grade tonnes. For the 2015 financial year, Kingsrose was expected to produce between 30 000 oz and 35 000 oz of gold, instead of the... 

Technology initially developed for oil and gas industry enables visualisation of subsurface of entire mining area

By: Chantelle Kotze Using only traditional exploration techniques, such as drilling boreholes, does not enable an accurate perspective of the structural complexity of the earth’s subsurface at depth. However, using new three-dimensional (3D) seismic reflection interpretation technology, initially developed for the... 

Technology initially developed for oil and gas industry  enables visualisation of subsurface of entire mining area
MUSA MANZI Manzi is researching new ways of interpreting 3D seismic reflective data – acquired by gold miners Gold Fields and AngloGold Ashanti – of the Witwatersrand basin

Wits lecturer aiming to establish seismic reflection laboratory

By: Chantelle Kotze The mining industry has taken heed of the need to develop and nurture a constant stream of quality graduates that can develop solutions in problem areas and has as a result contributed significantly to research at the University of the Witwatersrand’s (Wits’) School of Geosciences, says Wits... 

Treasury Metals restarts Goliath drilling programme

By: Leandi Kolver TSX-listed Treasury Metals on Thursday said drilling at its flagship Goliath gold project, in northwestern Ontario, had restarted. The company stated that the initial 5 000 m drilling programme would comprise definition drilling of the main resource area, exploration of the new shallow high-grade... 

Gold industry not indefinitely sustainable at current gold price, says Holland

By: Natalie Greve Dual-listed Gold Fields is bracing itself for another year of softened gold prices, but CEO Nick Holland believes the bullion producer is well-positioned – from a debt level and production cost perspective – to weather the anticipated pricing environment. This local gold industry was not,... 

Gold industry not indefinitely sustainable at current gold price, says Holland
Photo by Duane Daws
South Deep

Seabridge to release new Deep Kerr resource estimate during Q1 2015

By: Leandi Kolver British Columbia-focused project developer Seabridge Gold expected to release a new resource estimate for its Deep Kerr deposit, in Northwestern British Columbia, Canada, during the first quarter of next year. The company on Thursday noted it was confident that the results from the project’s 2014... 

Vanguard appoints new board member and CFO

By: Creamer Media Reporter Nevada-based Vanguard Mining has appointed Madhava Rao Mankal new member of the board of directors and CFO to replace Hai Le, who resigned from this position on November 5. Vanguard Mining president Jalani Haniffa said: "We are delighted to welcome Rao to our board of directors and management... 

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