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Alara reports 'steady progress' at Oman project

By: Mariaan Webb     Updated 54 minutes ago ASX-listed Alara Resources was making “steady progress” at its Al Hadeetha copper/gold project, in Oman, the company reported on Tuesday. Alara was advancing project financing negotiations and said the financing arrangement would consider Sharia compliant and conventional banking projects. 

Challenger mine resumes operations, produces first gold

By: Samantha Herbst     Updated 1 hour 11 minutes ago After being temporarily suspended by its former owner in March, the Challenger gold mine, in South Australia, has resumed production and site operations, with the first gold bar produced on Tuesday under the mine’s new owners, ASX-listed gold producer WPG Resources and joint venture partner... 

Doray achieves first gold production at Deflector project

By: Mariaan Webb     Updated 2 hours 28 minutes ago Gold miner Doray Minerals reported on Tuesday that the Deflector project, in the southern Murchison region of Western Australia, had achieved its first gold pour – a year and two months after the takeover of the project. Doray, which gained the Deflector project through the acquisition of Mutiny... 

RNC’s Beta Hunt ramp-up ahead of schedule

By: Henry Lazenby     30th May 2016 Canadian gold producer Royal Nickel Corporation (RNC) is ahead of the ramp-up schedule for its Beta Hunt mine during May, hitting about 65% of the year-end mining rate target, which is ahead of the ramp-up schedule planned in the Beta Hunt preliminary economic assessment, the company reported on... 

Mining ‘most transparent’ – Corruption Watch

By: Martin Creamer     30th May 2016 The Chamber of Mines of South Africa on Monday welcomed the Corruption Watch report on transparency in corporate reporting, which found that South Africa’s most transparent companies came from the mining sector. Gold Fields, BHP Billiton and Anglo American Platinum come out tops in the report,... 

Mining ‘most transparent’ – Corruption Watch
Chamber CEO Roger Baxter

Kin Mining raises $1.68m through share placement

By: Samantha Herbst     30th May 2016 Promoting its growth and development strategy for the advancement of its Leonora gold project, in Western Australia, ASX-listed junior Kin Mining on Monday completed an oversubscribed share placement to raise $1.68-million for the project. About 12-million shares would be issued by June 3 at 14c... 

Panoramic considering IPO for Gum Creek

By: Mariaan Webb     30th May 2016 Western Australian mining company Panoramic Resources said on Monday that it had decided to run a dual initial public offering (IPO) and sales process for its Gum Creek gold project, near Wiluna, to unlock the project’s full value in the currently-buoyant gold sector. A March scoping study... 

Mantle advances strategy to become Australia’s newest gold producer

By: Mariaan Webb     30th May 2016 ASX-listed junior Mantle Mining has developed a detailed plan to bring the historic Morning Star gold mine, in Victoria, into production, MD Ian Kraemer reported on Monday. The mine, which Mantle recently bought, was once the country’s most prolific gold producer and formed a key part of the... 

Australian gold output declines as producers cut grades

     30th May 2016 Although Australian gold output declined slightly in the first three months of 2016, the country’s gold sector is benefiting from higher prices, Melbourne mining consultants Surbiton Associates said in its latest quarterly gold survey, published on Sunday. Australian gold production totalled 71 t... 

Australian gold output declines as producers cut grades

Sibanye secures interdict against illegal strike at Kroondal ops

By: Henry Lazenby     27th May 2016 NYSE- and JSE-listed precious metals miner Sibanye Gold has been granted an interdict against a strike called at its Kroondal platinum operations, in South Africa, by the Association of Mineworkers and Construction Union (AMCU). The South African Labour Court on Friday declared any strike action... 

Commodity price indices rally as oil picks up where metals left off

By: Henry Lazenby     27th May 2016 Commodity price indices have rallied in recent weeks as strong performance by oil softened the lull in metals price movements. Scotiabank's commodity price index had improved by 4.5% month-on-month in April as energy gains more than offset metals weakness. 

Commodity price indices rally as oil picks up where metals left off

Nautilus lifts Central Pacific underwater resource by 67%

By: Henry Lazenby     27th May 2016 Marine mining pioneer Nautilus Minerals this week reported an upgraded and improved mineral resource at its Clarion-Clipperton Fracture Zone (CCZ) project in the Central Pacific, which it held through its 100%-owned subsidiary Tonga Offshore Mining.  Toronto-based Nautilus advised on Thursday... 

Canadian gold producer invests $11m in embattled Vantage Goldfields

By: Samantha Herbst     27th May 2016 Canadian gold producer AfroCan Resources Gold will invest $11-million over the next two months into South African gold miner Vantage Goldfields, effective June 1, following an agreement signed Friday, Vantage confirmed to Mining Weekly Online. The companies noted in a join statement that AfroCan,... 

Bundarra gold project up for sale – Bligh

By: Mariaan Webb     27th May 2016 ASX-listed Bligh Resources and its joint venture (JV) partner Contained Gold have agreed to explore the possibility of selling the Bundarra JV project, in Western Australia, to an unrelated third party. The companies entered into a JV agreement in October last year, under which Contained Gold, a... 

Troy says Karouni output to be at lower end of guidance

By: Mariaan Webb     27th May 2016 Gold miner Troy Resources advised shareholders on Friday that gold production at its Karouni mine, in Guyana, would be at the lower end of its guidance for 2016, owing to ongoing disruptions in the milling circuit. The company explained that contaminated lubrication oil was found to be the cause... 

Companies in partnership to enhance gold recovery, enviro remediation

By: Mia Breytenbach     27th May 2016 Local mining and raw material processing firm Ncamiso Mining has collaborated with ASX-listed mining company Mintails Mining SA-Mogale Gold to carry out vital services to ensure maximum gold recovery and environmental remediation. Ncamiso specialises in screening gold from material that would... 

Companies in partnership to enhance gold recovery, enviro remediation
INCREASING YIELD Ncamiso Mining’s work includes the screening out of fine and materials from waste rock to increase gold yield

Diversification to increase service value

     27th May 2016 While larger mining companies operate their process plants on a traditional owner/operator basis, many juniors still prefer to contract out the operation of their mines as it eliminates unforeseen costs and secures proven skills, technologies and associated systems that they would not have access... 

Diversification  to increase service value
Photo by Bloomberg
DIVERSIFICATION IS KEY Enhancing overall services to clients increases the need for contracting

New sanctions could cripple reclusive North Korea’s mining sector

By: Ilan Solomons     27th May 2016 New sanctions on North Korea imposed by the United Nations (UN) and the US in March for allegedly undertaking nuclear and ballistic missile tests earlier this year will affect the country’s mineral resources sector. North Korea – officially named the Democratic People's Republic of Korea (DPRK)... 

New sanctions could cripple reclusive North Korea’s mining sector

PTM closes $33m financing

By: Henry Lazenby     26th May 2016 Canadian project developer Platinum Group Metals (PTM) has closed a public offering of common shares to raise $33-million. The Vancouver-based company had issued 11-million common shares at $3 each. 

Strong tailwinds giving juniors, project developers room to run – research note

By: Henry Lazenby     26th May 2016 About halfway through the first quarter, analysts at Dundee Capital Markets noticed that exploration companies that had weeks earlier appeared to be dead in the water, as investors abandoned all but a handful of names, were steadily starting to leave the laggards behind as a combination of the... 

Strong tailwinds giving juniors, project developers room to run – research note

Continually flipped Moz gold project goes for $17.5m

By: Martin Creamer     26th May 2016 The Manica gold project in Mozambique, which has been bought and sold several times in recent years, is being disposed of once more. On two occasions the disposals have been conducted under the same management head – Jan Nelson, who announced on Thursday that his London Aim-listed Xtract had... 

Continually flipped Moz gold project goes for $17.5m
Photo by Duane Daws
Xtract CEO Jan Nelson

Pan African raising cash for BEE toughening, funding headroom

By: Martin Creamer     26th May 2016 Gold-, platinum- and coal-mining company Pan African Resources told shareholders on Thursday that it would be raising equity capital to cement its black economic-empowerment (BEE) compliance and provide it with financial headroom for swift access to organic and acquisitive growth opportunities.... 

Pan African raising cash for BEE toughening, funding headroom
Photo by Duane Daws
Pan African CEO Cobus Loots

Hillgrove cuts salaries to navigate cash flow constraints

By: Mariaan Webb     26th May 2016 The board, CEO, MD and employees of copper/gold miner Hillgrove Resources have agreed to salary reductions to help the company overcome cashflow constraints, chairperson Dean Brown reported on Thursday. In an address delivered at Hillgrove’s annual general meeting, he reported to shareholders... 

About 70% of total tonnes mined at Devon, reports GME

By: Samantha Herbst     26th May 2016 Since starting production at its 100% owned Devon gold mine, in Western Australia, ASX-listed junior developer GME Resources has mined about 70% of the total tonnes, including waste and ore. The company revealed on Thursday that four batches of ore – equating to 26 300 dry tonnes, or 40% of the... 

Kingsgate’s Chatree licence renewed to year-end, no certainty about mine’s future

By: Mariaan Webb     26th May 2016 Australian miner Kingsgate Consolidated on Thursday requested an extension of its voluntary trading halt on the ASX, owing to continued uncertainty over the future of its only operating mine, Chatree, in Thailand. The company was granted a renewal of its metallurgical licence for the gold mine,... 

Kingsgate’s Chatree licence renewed to year-end, no certainty about mine’s future
Gold ore is transported on belt at the Chatree gold mine, in Thailand.

Court approves Diversified Minerals’ takeover of Unity

By: Mariaan Webb     26th May 2016 The shares of Unity Mining were suspended from trading on the ASX at the close of market on Thursday, after the Supreme Court of Victoria approved Diversified Minerals’ takeover of the gold company. Unity shareholders would receive 3.3c cash for each share that they own, comprising 2.3c by way of... 

Wallbridge to buy Fenelon project

By: Henry Lazenby     26th May 2016 Wallbridge Mining Company has this week entered into a binding letter of intent to acquire the Fenelon gold property from Balmoral Resources for C$3.6-million.  The Fenelon mine property was an advanced-stage project with near-term production potential, as well as drill intersections suggesting... 

Kincora consolidates key Mongolian land-holdings with ‘mega’ potential

By: Henry Lazenby     26th May 2016 Bolstered by the recent restart of Rio Tinto’s multibillion-dollar Oyu Tolgoi Phase 2 in the copper belt, TSX-V-listed explorer Kincora Copper on Wednesday advised that it had reached an agreement with privately owned explorer High Power Exploration (HPX) to merge two Kincora subsidiaries with... 

Centerra vows to fight two enviro rulings as Kyrgyz woes continue 

By: Henry Lazenby     26th May 2016 Canada’s Centerra Gold is having a busy week at the Kyrgyz courts after the company received two rulings in two days against its wholly owned subsidiary Kumtor Operating Company (KOC) for alleged environmental infractions at its eponymous mine in the country. Centerra also had to defend itself... 

Centerra vows to fight two enviro rulings as Kyrgyz woes continue
Photo by Reuters
Kumtor, Kyrgyz Replublic

Russia, China add more gold reserves; Venezuela sells more

By: Reuters     25th May 2016 China and Russia, two of the largest holders of bullion, and Kazakhstan bolstered their gold reserves last month, while Venezuela sold off more of its bullion earlier this year, data from the International Monetary Fund showed on Tuesday. Extending a prolonged buying spree, Russia added 16.2 t... 

Vale to delist from Hong Kong exchange

By: Henry Lazenby     25th May 2016 Brazilian diversified mining major Vale has delisted from the Hong Kong stock exchange (HKEx) as part of the company’s simplification strategy. In a press release issued Tuesday, the Rio de Janeiro-based miner announced that the HKEx had approved the withdrawal of Vale´s HDRs – an informal name... 

New acid mine water process has huge agri potential in arid areas  

By: Martin Creamer     25th May 2016 The newly developed process that yields handsome profits by converting acid mine water into valuable fertiliser materials, also has the potential to process South Africa’s large volumes of currently unusable brackish groundwater. The use of the process that eradicates acid mine drainage (AMD) for... 

New acid mine water process has huge agri potential in arid areas
Photo by Duane Daws
Trailblazer Technolgies director John Bewsey

Solidarity secures payment agreement for retrenched Lily mineworkers

By: Anine Kilian     25th May 2016 Trade union Solidarity on Wednesday reached an agreement with the business rescue practitioner regarding retrenchment packages to be paid out to those mineworkers at Vantage Gold Fields’ Lily mine, near Barberton, who had applied for them.   According to Solidarity general secretary Gideon du... 

Kyrgyz court fines Centerra unit Kumtor $98m

By: Reuters     25th May 2016 A court in Kyrgyzstan fined the country's biggest gold miner Kumtor Operating Company, a unit of Canada's Centerra Gold, 6.7-billion some ($98-million) for environmental damage on Wednesday. Kumtor's lawyers told reporters at the hearing that they would appeal the ruling. 

Kyrgyz court fines Centerra unit Kumtor $98m
Photo by Centerra Gold
Kumtor, Kyrgyz Republic

Silicosis class-action status impacts on local common law

By: David Oliveira     25th May 2016 The Johannesburg High Courts’ decision earlier this month to give 69 mineworkers and silicosis sufferers the right to institute class action against 32 current and historical South African gold mining companies would have far-reaching implications for the country’s common law, according to law... 

Gold Fields extends Macmahon contract at St Ives

By: Creamer Media Reporter      25th May 2016 Gold mining major Gold Fields has extended ASX-listed Macmahon Holdings’ contract to supply a fleet of opencut mining equipment and associated services to the St Ives gold mine, in Western Australia. Macmahon initially had a six month contract, which Gold Fields has now extended by 24 months. 

Anglo Pacific optimistic about higher 2016 royalty income

By: Creamer Media Reporter      25th May 2016 LSE- and TSX-listed Anglo Pacific expects its royalty income for the full 2016 financial year to be significantly higher than the £8.7-million earned in 2015. The company noted in a trading update on Wednesday that royalty income for the first quarter of the year, ended March 31, was... 

Higher commodity prices support 26% rise in Q1 Canadian Mining Eye index

     25th May 2016 Higher commodity prices have contributed to a 26% rise in EY’s Canadian Mining Eye index for the first quarter of this year. “Improved gold and base metals prices appeared to generate much-needed positive momentum in the sector. The strong growth of Canadian mining equities also indicates... 

Higher commodity prices support 26% rise in Q1 Canadian Mining Eye index
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