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Feds give Seabridge Gold's KSM the environmental nod

By: Henry Lazenby One of the world’ largest undeveloped gold and copper projects, Seabridge Gold’s KSM project, in north-west British Columbia, has received the nod of approval from Canada’s Minister of the Environment Leona Aglukkaq, marking the end of a nearly seven-year journey to complete the joint harmonised... 

Oyu Tolgoi on track for full-year guidance despite concentrator fire, lowers 2015 guidance

By: Henry Lazenby Rio Tinto Subsidiary Turquoise Hill Resources on Friday reported that despite a recent concentrator fire at the massive Oyu Tolgoi copper/gold mine, in Mongolia, the operation was on track to meet its expected full-year output. Turquoise Hill in October reduced its 2014 forecasts for gold and... 

Kazakh miner GoldBridges joins London exchange main board

By: Reuters GoldBridges, a small Kazakh gold miner led by a member of the well-connected Assaubayev family, on Friday joined the main board of the London Stock Exchange and is hoping to improve the image of Kazakh businesses in the mining sector. The company, which already produces about 30 000 oz/y of gold... 

Colombia fixes moorland boundaries affecting gold miners

By: Reuters Colombia's Environment Ministry announced it had fixed the boundaries of an ecologically delicate moorland in the country's northeast, a decision that would affect two of three miners with a licence to explore or develop mining there. Environment Minister Gabriel Vallejo said 100 000 ha of land... 

Gold tooth lands in Missouri Salvation Army kettle

By: Reuters People have tossed gold and silver pieces into Salvation Army holiday kettles but a gold tooth found this week in Kansas City was a local first, an organisation leader said on Friday. "It's the whole tooth, with the root and everything," said Rick Carroll, who is in charge of the Salvation Army... 

Kin identifies possible early start at Leonora

By: Esmarie Swanepoel ASX-listed developer Kin Mining on Friday announced the potential of a near-term production opportunity at its recently acquired Leonora gold project, in Western Australia. The company told shareholders that following the interrogation of the Leonora database, the company has identified... 

Blackham eyes 2015 start at Matilda

By: Esmarie Swanepoel Junior gold developer Blackham Resources was hoping to start production at its 4.4-million ounce Matilda project, in Western Australia, by the end of 2015, pending financing. The company reported on Friday that discussions were ongoing with a number of potential funders which have expressed... 

Cashless home loans for migrant mineworkers on way – Teba

By: Martin Creamer A system of providing incremental cashless home loans to migrant mineworkers living in distant areas is being implemented. Teba CEO Dr Graham Herbert, who spoke to Mining Weekly Online in the attached video interview on potential improvements to the much-criticised migrant labour system, says... 

Cashless home loans for migrant mineworkers on way – Teba
Photo by Duane Daws
Graham Herbert

Sword of Damocles hangs over Mintails

By: Esmarie Swanepoel The share price of South Africa-focused gold miner Mintails dropped by nearly 22% on Thursday on news that the company was failing to make its production targets. Mintails told shareholders on Thursday that the company’s openpit operational performance had been impacted by the failure of the... 

Crater starts mining at its PNG mine

By: Esmarie Swanepoel Junior miner Crater Gold Mining has started mining at its High Grade Zone (HGZ) project, at the Crater Mountain mine, in Papua New Guinea. The start of mining at Crater Mountain comes in the wake of Crater securing a mining lease, and successfully concluding a compensation agreement with the... 

Doray expects more from Andy Well in 2015

By: Esmarie Swanepoel Gold miner Doray Minerals on Thursday increased its 2015 production expectations for the Andy Well operation, in Western Australia, o the back of a 67% increase in the openpit mining inventory at the Wilber Stage 2 openpit operation. The mine was now expected to produce between 85 000 oz and 90... 

Kinross completes Aurelian Resources and Fruta del Norte divestment

By: Henry Lazenby TSX- and NYSE-listed Kinross Gold on Wednesday said it had completed the divestment of all of its interest in Aurelian Resources and the Fruta del Norte project, in Ecuador, to Fortress Minerals, a member of the Lundin Group of Companies, for $240-million. Payment consisted of $150-million in... 

US gold output sags as low grades at Barrick, Midas mine sale weigh

By: Henry Lazenby US gold mine output during the first nine months had slid 7% year-over-year, hurt in part by lower production from the world’s two largest gold miners by output, Toronto-based Barrick Gold and Denver-headquartered Newmont Mining. In its latest ‘Mineral Industry Surveys’ report, the US Geological... 

Central Rand Gold raising $1.85m to boost surface mining

By: Martin Creamer London- and Johannesburg-listed gold-mining company Central Rand Gold, which is currently being courted by three Chinese suitors, is taking steps to raise $1.85-million in equity capital to boost surface mining production, bring idled underground equipment to surface and reduce staff. The focus... 

Central Rand Gold raising $1.85m to boost surface mining
Photo by Duane Daws
Johan du Toit

Near-term catalysts place Integra Gold on the fast track to production

By: Henry Lazenby Two significant near-term catalysts were shaping up to keep Integra Gold Corp investors intrigued and would contribute to help differentiate the Canadian project developer from its peers, who are competing for capital in a tough junior market environment. Speaking to Mining Weekly Online from... 

Near-term catalysts place Integra Gold on the fast track to production
Photo by Integra Gold Corp
Drilling at the Parallel Zone at Lamaque South, Quebec

Despite gold hedge book contracting in Q3, full-year growth expected

By: Henry Lazenby A new report released on Tuesday by Societe Generale and Thompson Reuters GFMS had found that net gold hedging had declined by a net 200 000 oz in the third quarter. This was the result of a slowdown in the volume of hedging, which meant that the delivery into and the maturity of pre-existing... 

Despite gold hedge book contracting in Q3, full-year growth expected

Windsor Gold hopeful to start washing gold from BC soil this spring

By: Henry Lazenby Pending the completion of a crowdfunded campaign to raise $1-million, that would allow it to upgrade its fleet of mining equipment, junior explorer Windsor Gold Mining and Exploration is eager to start washing placer gold from the high-grade soils of the Cariboo region, of the central interior of... 

Windsor Gold hopeful to start washing gold from BC soil this spring
Photo by Windsor Gold Mining and Exploration
Canadian Creek, British Columbia

'Phenomenal' rise in India's gold imports a concern - trade secy

By: Reuters A "phenomenal" rise in India's gold imports is a concern and the government will watch the impact from a recent easing in gold import rules, Trade Secretary Rajeev Kher said on Tuesday. Gold imports jumped 34% in November to $5.61-billion, sending India's trade deficit to a 18 month high, data... 

Red Mountain nails down financier for Batangas

By: Esmarie Swanepoel ASX-listed Red Mountain Mining has secured $5.5-million from a private investor to fund its definitive feasibility study (DFS), final permitting and development of its Batangas gold project, in the Philippines. The company reported on Tuesday that the two-stage funding would see the private... 

Gold miners report new discoveries

By: Henry Lazenby Gold producers Aurico Gold and Yamana Gold on Monday reported that 2014 exploration programmes had resulted in new discoveries at Aurico’s Kemess East project, in north-central British Columbia, and Yamana’s El Penon gold/silver mine, in Chile, and Chapada, in Brazil. TSX- and NYSE-listed Aurico... 

Harmony Gold, Newcrest to spend $2.3bn on Golpu feasibility

By: Martin Creamer Gold mining companies Harmony Gold of South Africa and Newcrest Mining of Australia plan to spend $2.3-billion on developing their Golpu deposit in Papua New Guinea. Harmony and Newcrest, which each own 50% of the Golpu project through the Wafi-Golpu Joint Venture, on Monday gave a firm thumbs up... 

Harmony Gold, Newcrest to spend $2.3bn on Golpu feasibility
Photo by Duane Daws
Graham Briggs

Broke Cons Murch antimony mine begins business rescue proceedings

By: Martin Creamer The troubled antimony and gold operation Cons Murch, which is in financial distress, has begun voluntary business rescue proceedings in consultation with the Department of Mineral Resources, JSE-listed Village Main Reef said on Monday. Its decision follows the inability of unlisted Australian... 

Broke Cons Murch antimony mine begins business rescue proceedings
Photo by Duane Daws
Ferdi Dippenaar

Doray extends Mutiny offer

By: Esmarie Swanepoel ASX-listed Doray Minerals has extended the takeover offer for fellow-listed Mutiny Gold until January 23, after gaining a more than 50% shareholding in the takeover target. In October this year, Doray launched a takeover offer for Mutiny, offering that company’s shareholders one of its own... 

Newcrest advances feasibility work at Wafi-Golpu

By: Esmarie Swanepoel Gold major Newcrest Mining on Monday announced that the company would proceed with a feasibility study on the Stage 1 development of the Wafi-Golpu project, in Papua New Guinea. A 2012 prefeasibility study (PFS) identified an improved business case for the project by splitting the project into... 

Evolution restructures debt

By: Esmarie Swanepoel Gold miner Evolution Mining has refinanced its A$200-million corporate loan facility, rolling over the outstanding debt of A$126.8-million, while also securing a A$200-million senior secured corporate revolving credit facility with a syndicate of lenders. The new credit facility would have a... 

Gold Fields appeals St Ives native title ruling

By: Natasha Odendaal Gold Fields subsidiary St Ives Gold Mining Company has lodged an appeal against a Federal Court of Australia ruling that the regrant of mining tenements held by St Ives, in Western Australia, were not compliant with the correct processes in terms of the Native Title Act of 1993. The appeal,... 

Waning investor confidence, weak commodity prices among factors limiting growth of African mining sector

By: Jade Davenport Along with the Arctic, sub-Saharan Africa remains the most underexplored and highly prospective mineralised region on earth. However, despite its ‘open for business’ approach and myriad investment opportunities – in terms of greenfield and brownfield projects across the commodity spectrum –... 

Waning investor confidence, weak commodity prices  among factors limiting growth of African mining sector

Nautilus receives PNG funds from escrow, forms Solwara 1 JV

By: Henry Lazenby Prospective marine miner Nautilus Minerals on Thursday formed a joint venture (JV) company with Papua New Guinea’s (PNG’s) nominee Eda Kopa (Solwara) to mine high-grade polymetallic seafloor massive sulphide deposits at 1 600 m below the surface of the Bismarck Sea, offshore PNG, within the... 

Romarco Minerals lifts Haile project NPV by 72%

By: Henry Lazenby After recently receiving all necessary permits to start construction of its flagship Haile gold project, in South Carolina, Canadian project developer Romarco Minerals late Wednesday reported that it had updated the project’s economics, resulting in a 72% boost to the project’s after-tax net... 

Nyota’s Ethiopian exploration licences partially renewed

By: Natalie Greve Gold explorer Nyota Minerals said on Thursday that, following submissions to renew the exploration licences for the Towcester and Brantham projects, in western Ethiopia, the Ethiopian Ministry of Mines has taken the decision not to renew any licence areas or to issue new exploration licences that... 

Lakewood sale falls through - Silver Lake

By: Esmarie Swanepoel Gold miner Silver Lake Resources has terminated the sales agreement for its Lakewood mill assets, in Western Australia, after the buyer proved unable to satisfy the finance condition. In October this year, Silver Lake announced that it had reached a sales agreement worth A$5.5-million over the... 

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