R/€ = 14.78 Change: -0.01
R/$ = 11.97 Change: -0.01
Au 1342.29 $/oz Change: -10.50
Pt 935.00 $/oz Change: -15.81

Gold News

Companies reach shaft sinking milestones

     Updated 4 hours ago Multinational mining company Turquoise Hill Resources’ Oyu Tolgoi copper/gold mine in Mongolia, has achieved significant underground development milestones with the completed sinking of two shafts this year. The Oyu Tolgoi, one of the world’s largest new copper/gold mines, is located in the South... 

Beneficiation in the spotlight this month at Geneva forum

By: Nadine James     Updated 4 hours ago As more than 90 developing economies are dependent on commodity exports, building the skills needed to add value to raw materials and provide decent work are some of key objectives to be discussed next week at the United Nations Conference on Trade and Development’s (Unctad's) eighth Global... 

Latin America the leading region in new global wave of exploration

By: Rebecca Campbell     Updated 4 hours ago Worldwide, the mining industry has been recovering from the slump that started in 2012. “After a challenging 2013/14 when the prices of commodities plummeted across the board, 2016 and 2017 have seen resurging prices of aluminium, copper, zinc, nickel, lead, palladium, and more modestly in gold,”... 

Latin America the leading region in new global wave of exploration

Phoenix Global PEA lifts Idaho-based Empire mine output 16%

By: Henry Lazenby     Updated 7 hours ago A preliminary economic assessment (PE) of LSE-quoted project developer Phoenix Global Mining’s historic Empire mine, in Idaho, has outlined a 16% improved production scenario over previous estimates, taking only the openpit copper oxide resource into consideration. The PEA shows an average... 

Semafo’s Boungou mine 91% complete

By: Henry Lazenby     19th April 2018 Montreal-based miner Semafo reported on Thursday that construction of the Burkina Faso-based Boungou mine, in Burkina Faso, is 91% complete, and 10% of the equipment has already been commissioned. Commissioning exercises started in February, focusing first on the crushing circuit equipment and... 

B2Gold’s Fekola update continue to demonstrate potential for larger openpit

By: Henry Lazenby     19th April 2018 Gold producer B2Gold has extended mineralisation at its Fekola mine one kilometre to the north, with the positive drill results continuing to indicate potential for a larger openpit operation, that could justify a relatively low capital cost plant expansion from 5.5-million tonnes a year to about... 

Shanta reports lower Q1 gold production

By: Simone Liedtke     19th April 2018 Aim-listed Shanta Gold remains on track to achieve its guidance of 82 000 oz to 88 000 oz in 2018 at an all-in sustaining cost (AISC) of between $680/oz and $730/oz, despite the New Luika gold mine, in south-west Tanzania, reporting lower production. Production in the March quarter reduced to 17... 

Asanko mine performs ahead of LoM plan in Q1

By: Simone Liedtke     19th April 2018 Gold miner Asanko Gold’s Asanko mine, in Ghana, performed ahead of the optimised life-of-mine (LoM) plan during the first quarter ended March 31. The mine performed exceptionally well, said Asanko president and CEO Peter Breese, who noted that it is also ahead of plan on the key metrics of gold... 

Strike halts gold output at two Randgold mines in Mali – union

By: Reuters     19th April 2018 A workers' strike in Mali has halted gold production at two mines run by Randgold Resources since Wednesday, a senior union official told Reuters on Thursday. The strike at the Loulo and Gounkoto mines was related to the payment of bonuses and would continue until the issue was resolved, said... 

Illegal mining threatens Johannesburg infrastructure – Mashaba

By: African News Agency      19th April 2018 Johannesburg mayor Herman Mashaba said on Thursday he was concerned about apparent inaction by the national government to curb illegal mining which threatened critical bulk infrastructure and posed an imminent disaster in the city of Johannesburg. Mashaba said the activities could also... 

TSR finds good gold mineralisation at Djibouti project

By: Marleny Arnoldi     19th April 2018 Phase 2 drilling at Thani Stratex Resources’ (TSR’s) Pandora gold project, in Djibouti, found an “outstanding” intersection of gold on the previously untested Pyrrha vein. 

Acacia reports lower Q1 adjusted net earnings, but maintains FY production target

By: Marleny Arnoldi     19th April 2018 Tanzanian gold miner Acacia Mining reported adjusted net earnings of $7-million for the quarter ended March 31, which is 73% lower than the $26.8-million adjusted net earnings reported for the first quarter of 2017.  

Acacia reports lower Q1 adjusted net earnings, but maintains FY production target
The Bulyanhulu mine, in Tanzania

Resources Watch  

     19th April 2018 This week: Strong rand eroding South African gold mines’ margins And, underground rail transport at local mines not being prioritised 

Resources Watch
Resources Watch

Maximus looks to increase Burbanks throughput

By: Esmarie Swanepoel     19th April 2018 ASX-listed Maximus Resources is looking to increase throughput at its Burbanks treatment plant, in Western Australia, in 2019, following strong demand for toll milling capacity. The company told shareholders that it was currently reviewing the mill capacity of the 180 000 t/y conventional... 

Tanzania names chairperson for new mining commission

By: Reuters     19th April 2018 Tanzanian President John Magufuli on Wednesday appointed a chairperson and commissioners for the country's new mining commission, paving the way for the issuance of new mining licences. Africa's fourth-largest gold producer is seeking a bigger slice of the pie from its vast mineral resources by... 

Evolution hits record low costs

By: Esmarie Swanepoel     19th April 2018 Gold miner Evolution Mining has reported record low all-in sustaining costs of A$768/oz, with gold production also increasing slightly. Gold production during the three months to March was up to 191 474 oz, compared with the 186 488 oz produced in the previous quarter, with the Ernest Henry and... 

Hochschild shares rise on higher Q1 output

By: Henry Lazenby     18th April 2018 LSE-listed Hochschild Mining has reported higher-than-expected first-quarter production, as record output at the Inmaculada mine, as well as a strong result from the Pallancata mine – both located in Peru – buoyed output. During the three months ended March 31, Hochschild reported attributable... 

Altus raises C$4.11m in private placement

By: Creamer Media Reporter      18th April 2018 Aim-listed Altus Strategies has raised about C$4.11-million by way of a nonbrokered private placement of 27.39-million units at C$0.15 each. Each unit is comprised of one ordinary share and one ordinary share purchase warrant that may be used to buy one ordinary Altus share at C$0.30 for five... 

Dalgaranga still tracking ahead of schedule

By: Esmarie Swanepoel     18th April 2018 The Dalgaranga gold project, in Western Australia, remains one month ahead of schedule, ASX-listed Gascoyne Resources told shareholders, with the project due to start gold production in May. Gascoyne told shareholders on Wednesday that process plant construction at Dalgaranga was 98% complete,... 

Awak Mas gets maiden reserve

By: Esmarie Swanepoel     18th April 2018 Junior gold developer Nusantara Resources has reported a maiden ore reserve of one-million ounces at its Awak Mas gold project, in Indonesia. “Our maiden ore reserve represents a significant milestone for the company and now places Nusantara among an elite group of ASX-listed gold development... 

Polymetal’s new mine slightly ahead of schedule, Q1 output up

By: Mariaan Webb     18th April 2018 Construction activities at the new Kyzyl mine, which LSE-listed Polymetal is building in Kazakhstan, are slightly ahead of schedule, with commissioning brought forward by a couple of weeks. Dry commissioning of the processing plant would start on June 1, followed by first concentrate production... 

Polymetal’s new mine slightly ahead of schedule, Q1 output up
First concentrate is expected from the Kyzyl mine on August 1.

Crusader appoints new chairperson as it starts trading on Aim

By: Mariaan Webb     17th April 2018 Brazil-focused Crusader Resources on Tuesday announced the appointment of Andrew Vickerman as nonexecutive chairperson, following the company’s successful listing on the London Stock Exchange. Crusader’s issued share capital was admitted to trading on the Aim market on Monday, following the... 

Nanoclay technology being developed as possible means to treat AMD

By: Anine Kilian     17th April 2018 The Council for Scientific and Industrial Research (CSIR) is developing low-cost polymer-based adsorbents for the removal of toxic pollutants such as heavy metals, anions and organics, from wastewater, that could be applied in the treatment of acid mine drainage (AMD). AMD is the outflow of... 

Polyus says no change to business after US sanctions list

By: Reuters     17th April 2018 Polyus said on Tuesday that the inclusion on a US sanctions list of a member of the family that controls Russia's biggest gold producer would not lead to changes in the way the company conducted its business. Suleiman Kerimov was among several Russian tycoons targeted by a new list of US sanctions. 

W Resources plans to spin off or sell copper and gold assets

By: Mariaan Webb     17th April 2018 European mining project developer W Resources is considering spinning off or selling its copper and gold projects, as it increasingly focuses on its tungsten assets in Spain and Portugal. The company, which is advancing the La Parrilla tungsten mine in Spain, owns the São Martinho,... 

Polyus reports Q1 production, sales results

By: Mariaan Webb     17th April 2018 Russia’s largest gold miner Polyus has confirmed its 2018 full-year production guidance of 2.375-million to 2.425-million ounces, after reporting first-quarter production of 506 500 oz. The March-quarter performance is a 13% increase on production in the corresponding period of 2017, when output... 

Polyus reports Q1 production, sales results
Polyus CEO Pavel Grachev

Highland Gold profit up 37% to $66m

By: Mariaan Webb     17th April 2018 London-listed company Highland Gold on Tuesday posted a 37% increase in its net profit for 2017, as above-guidance production boosted revenue, costs were controlled and no impairment losses were reported. The company, which mines in the Khabarovsk, Chita and Chukotka regions of Russia,... 

Old Pirate gets new life with Ark Mines

By: Esmarie Swanepoel     17th April 2018 ASX-listed ABM Resources has entered into a letter of agreement with fellow listed Ark Mines, under which Ark would operate the Old Pirate gold project, in the Northern Territory. ABM MD Matt Briggs said on Tuesday that after a competitive and lengthy process, Ark provided the most attractive... 

Saracen ups full-year guidance

By: Esmarie Swanepoel     17th April 2018 Gold miner Saracen Mineral Holdings has increased its full-year production expectations on the back of record gold production during the March quarter. Gold production during the three months to March reached 98 886 oz, compared with 77 522 oz in the previous quarter, with the Carosue Dam... 

Downer EDI awarded A$660m Carrapateena contract

By: Esmarie Swanepoel     17th April 2018 Copper/gold miner Oz Minerals has awarded a A$660-million underground mining services contract to project house Downer EDI for the Carrapateena underground mine, in South Australia. The six-and-a-half year contract will comprise all underground mining activity, including site setup and... 

Vale achieves best-ever quarterly sales in Q1, despite slide in iron output

By: Henry Lazenby     17th April 2018 Brazilian diversified miner Vale has reported its best first-quarter iron-ore sales ever despite production of the iron-making ingredient slipping somewhat during the three-month period. The company reported that output during the quarter ended March 31 slipped 4.9% year-on-year to 81.95-million... 

Vale achieves best-ever quarterly sales in Q1, despite slide in iron output
Photo by Vale
Vale's massive new SD11 mine, in Brazil

Orosur implements cost cutting measures, lowers FY production target

By: Marleny Arnoldi     16th April 2018 TSX- and Aim-listed gold producer Orosur Mining on Monday lowered its production guidance to between 27 000 oz and 30 000 oz of gold, down from the initial 30 000 oz target at its San Gregorio (SG) mine, in Uruguay.  

Polymetal swaps Russian property for Kazakhstan deposit

By: Anine Kilian     16th April 2018 Gold miner Polymetal has reached an agreement with the Russian Copper Company in which it would exchange its Tarutin property, in Russia, for the East Tarutin property, in Kazakhstan. The asset-swap deal would give Polymetal an 85% stake in the East Tarutin property, which CEO Vitaly Nesis said... 

Anglo Asian delivers 26% production increase

By: Simone Liedtke     16th April 2018 Azerbaijan's top gold producer, Anglo Asian Mining, has delivered a 26% year-on-year increase in gold equivalent ounces in what CEO Reza Vaziri describes as an “excellent” first-quarter performance. Production in the first three months of the year is always the company’s lowest, owing to the... 

Cradle Arc to sell Zambia gold assets to Singa Holdings

By: Simone Liedtke     16th April 2018 Africa-focused base and precious metals exploration and production company Cradle Arc has entered into an option agreement to sell its Matala and Dunrobin gold assets, in Zambia, to Singa Holdings Zambia. The assets are currently held by Cradle Arc subsidiary Luiri Gold Mines. 

Q1 production on par with FY expectation for Ariana’s Turkish gold mine

By: Marleny Arnoldi     16th April 2018 The Kiziltepe joint venture (JV) mine, in which Aim-listed Ariana Resources holds 50%, lifted its first-quarter production by 8% quarter-on-quarter to 4 866 oz, augmented by an increase in gold recovery from the processing plant.  

Bluebird reports ongoing progress at South Korea mines

By: Anine Kilian     16th April 2018 Asia-focused Bluebird Merchants has commissioned a water-treatment plant at the Gubong mine, in South Korea. The plant will ensure that water being released from the mine, which Bluebird plans to reopen, meets acceptable standards. 

Perseus' production surges on Sissingue start

By: Esmarie Swanepoel     16th April 2018 Gold miner Perseus Mining has reported a surge in production for the three months to March after the Sissingue gold mine, in Cote d’Ivoire, started production in January. The Sissingue gold mine reached commercial production at the end of March. 

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