R/€ = 16.60 Change: -0.26
R/$ = 13.99 Change: -0.16
Au 1288.60 $/oz Change: -2.60
Pt 936.00 $/oz Change: 2.00

Gold News

Blackham secures A$60m for Matilda-Wiluna

By: Megan van Wyngaardt     Updated 1 hour 29 minutes ago ASX-listed Blackham Resources has taken a major step towards completing the refinancing of its 6.5-million ounce Matilda/Wiluna operation, in Western Australia, with an agreed initial A$60-million funding package with Pacific Road Capital. The proceeds will be used to refinance Blackham’s current... 

Katoro adds Lidar survey to Imweru PFS

By: Natasha Odendaal     Updated 1 hour 47 minutes ago Aim-listed Katoro Gold has expanded the prefeasibility study (PFS) of its Imweru gold project, in Tanzania, to include a light detection and ranging (Lidar) survey. The Lidar survey, which has been commissioned without compromising the timeline or budget, will use pulsed laser light to create a... 

Resolute protects Ravenswood returns with Australian dollar gold hedge

By: Creamer Media Reporter      Updated 4 hours ago Gold miner Resolute Mining has hedged 72 000 oz of gold to take advantage of the recent strength of the Australian dollar gold price. The miner, which operates the Ravenswood mine in Queensland and the Syama mine in Mali, forward sold the gold at an average price of A$1 715/oz, which is a... 

Marmota considering treating Aurora Tank ore at WPG’s Challenger plant

By: Creamer Media Reporter      24th November 2017 ASX-listed junior Marmota is considering various options to bring its Aurora Tank gold project, in South Australia, into production, one of which is to treat ore at fellow listed WPG Resources Challenger gold processing plant, 50 km to the north-east. Marmota and WPG have executed a memorandum of... 

Semafo chairperson passes

By: Henry Lazenby     24th November 2017 West Africa-focused gold miner and regional explorer Semafo announced the sudden passing of its chairperson Jean Lamarre on Wednesday, following a short illness. Lamarre joined the company’s board in 1997 and was appointed chairperson in 2000, a position he held until his demise. 

Maverix picks up royalty on Endeavour’s Karma mine

By: Henry Lazenby     24th November 2017 Royalty vehicle Maverix Metals will acquire an existing 2% net smelter return (NSR) royalty from a third-party seller, on Endeavour Mining’s 90% interest in the Karma gold mine, in Burkina Faso, for $20-million in cash. The mine and surrounding tenements were acquired by Endeavour from True Gold... 

Company offers mine to market solutions

     24th November 2017 Combining concept-to-completion expertise with design and major project delivery capabilities for the minerals and metals sector, from bulk commodities to rare earths, professional services provider WorleyParsons offers its customers complete mine-to-market solutions from inception to... 

Company offers mine  to market solutions
MULTIDISCIPLIANRY APPROACH WorleyParsons takes a multidisciplinary approach, with teams comprising experts to identify challenges early and produce tailored strategies that mitigate risks

Consulting industry evolves despite current challenges

By: Marleny Arnoldi     24th November 2017 As mines have reduced their in-house technical capacity to deal with cost constraints in the economic downturn, the role of consulting engineers in the mining industry has evolved in the past decade, with their specialist skills being applied more broadly, says firm of consulting engineers and... 

Consulting industry evolves despite current challenges
VIS REDDY The involvement of consultants in operational work on mines tends to detract from the more specialised focus that consultants should have

Harmony Gold gets tax incentive for energy savings at Tshepong mine

By: Mia Breytenbach     24th November 2017 Gold producer Harmony Gold Mining Company (Harmony) has received a Section 12L tax incentive for energy savings achieved on the compressors of the miner’s Tshepong gold mine in the Free State. Section 12L of the Income Tax Act incentivises businesses to save energy through a tax allowance of 95c... 

Harmony Gold gets tax incentive for energy savings at  Tshepong mine
Photo by Harmony Gold
IMPROVED EFFICIENCY Eenergy savings on Harmony Gold’s Tshepong mine compressors was achieved through the implementation of an integrated optimisation strategy

Atlas Copco splits into entities focusing on mining and civil engineering, and the industrial market

By: Dylan Slater     24th November 2017 Construction and mining equipment manufacturer Atlas Copco has started a process to divide the company into two separate entities – Atlas Copco and Epiroc. Epiroc will remain a subsidiary of Atlas Copco.  

Atlas Copco splits into entities focusing on mining  and civil engineering, and the industrial market
SANJAY AHUJA Epiroc is now a house where we can live and breathe mining and rock excavation

Lower-than-guidance 2018 output expected at South Deep

By: Dylan Slater     24th November 2017 The production target for Westonaria-based South Deep gold mine, in Gauteng, is expected to be marginally lower next year than that initially laid out in the miner’s rebase plan, owing to a challenging first quarter this year, notes Gold Fields CEO Nick Holland.  

Agromining may provide new opportunities to extract remaining value from mined land

By: Mia Breytenbach     24th November 2017 With a significant portion of the large mineral deposits having been discovered worldwide, and in many cases reaching the end of viable economic recovery, phytomining is one option that could be chosen to extract the remaining value from this mined ground, Florida International University... 

Agromining may provide new opportunities to extract remaining value from mined land

Capabilities expanded to meet demand

By: Marleny Arnoldi     24th November 2017 Over the last few years, mineral testwork provider Maelgwyn Mineral Services Africa’s laboratory capabilities have expanded in accordance with industry demand.  

Four zama zamas dead, 15 others arrested after shootout with police

By: News24Wire      23rd November 2017 Four illegal miners have been shot and killed during a shootout with police on an open field in Boksburg, Ekurhuleni, early on Thursday morning. Police said fifteen illegal miners, also known as zama zamas, were arrested. 

Sibanye creates gold tailings deal with DRDGold 

     23rd November 2017 Precious metals company Sibanye-Stillwater and gold tailings retreatment company DRDGold are coming together to create an industry-leading surface mining partnership. Mining Weekly editor Martin Creamer speaks with Creamer Media's Sashnee Moodley about the proposed deal. 

Sibanye creates gold tailings deal with DRDGold
Sibanye creates gold tailings deal with DRDGold

Russian billionaire charged in France with money laundering

By: Bloomberg     23rd November 2017 Suleiman Kerimov, a Russian billionaire and senator, was charged with laundering gains from tax evasion in Nice and prohibited from leaving the region. Kerimov, whose family controls Russia’s biggest gold producer, Polyus PJSC, is required to surrender his passport and post €5-million bail, Nice... 

Exploration supports expanded production at Nullagine

By: Creamer Media Reporter      23rd November 2017 Recent drilling at Millennium Minerals’ Nullagine gold project, in the Pilbara, has returned positive results and supports the company’s plans to deliver a “step-change” in the operation’s production. The ASX-listed company announced on Thursday that drilling had returned positive intercepts... 

Evolution’s Klein expresses concern as young Australians shun mining as career option

By: Mariaan Webb     23rd November 2017 The mining industry has to pull together to make it an attractive career option for young people if the industry is to sustain itself, Evolution Mining chairperson Jake Klein said on Thursday, expressing concern about the low number of mining engineering enrolments and graduates at two Australian... 

Evolution’s Klein expresses concern as young Australians shun mining as career option
Evolution chairperson Jake Klein

Santacruz restarts Veta Grande mill

By: Henry Lazenby     23rd November 2017 TSX-V-listed Santacruz Silver Mining has restarted operations at its Veta Grande mill, located in Zacatecas state, Mexico. The mill had been standing idle since November 3, when the Mexican Environmental Protection Agency halted operations until certain licencing documentation related to the... 

Northern Vertex files PEA on expanded Moss mine plan

By: Henry Lazenby     23rd November 2017 Canadian project developer Northern Vertex has filed a preliminary economic assessment (PEA) with securities regulators examining the merit of building an expanded operation at its 100%-owned Moss gold/silver mine, in Arizona. First published in October, the PEA sets out the technical and... 

Altiplano earns half of Comet JV; starts bulk sample

By: Henry Lazenby     23rd November 2017 Exploration junior Altiplano Minerals has earned a 50% stake in the Comet Joint Venture (CJV) with Comet Exploration, which is conducting exploration on the Farellon and Maria Luisa copper/gold development projects, in Chile. Headed by John Williamson, co-founder of Kaminak Gold, which discovered... 

Altiplano earns half of Comet JV; starts bulk sample
Photo by Altiplano Minerals
Farellon mineralisation, Chile

Torex sets El Limon Guajes record straight as rival unions clash

By: Henry Lazenby     22nd November 2017 Canadian gold producer Torex Gold Resources has issued a press release criticising a labour union and the media for spreading misinformation regarding an incident over the weekend where two people were killed near its El Limon Guajes (ELG) mine, in Mexico. The Toronto-based company said that an... 

Gold Fields invests R6m to boost mechanised mining skills

By: Nadine James     22nd November 2017 South African gold miner Gold Fields on Wednesday announced a R6-million, three-year partnership with the University of the Witwatersrand (Wits) to further academic knowledge in the field of mechanised mining and rock engineering in South Africa. Gold Fields CEO Nick Holland and Wits... 

Sibanye share price rises on gold tailings deal with DRDGold

By: Martin Creamer     22nd November 2017 The share price of Sibanye-Stillwater rose quickly and sharply on Wednesday on the news that the precious metals company had moved to create an industry-leading surface mining partnership with gold tailings retreatment company DRDGold. The proposed transaction, which saw the share price of... 

Sibanye share price rises on gold tailings deal with DRDGold
Photo by Duane Daws
Sibanye-Stillwater CEO Neal Froneman (left) and DRDGold CEO Niël Pretorius.

Scope of Kerimov's immunity status up to judge to decide upon, says France

By: Reuters     22nd November 2017 The scope of the immunity status accorded to Russian businessman and lawmaker Suleiman Kerimov, who has been arrested in France, is up to the French judge dealing with the matter to decide upon, said the French foreign ministry. Kerimov was arrested by French police at Nice airport on Monday... 

Funding made available to advance Burkina Faso solar project

By: Megan van Wyngaardt     22nd November 2017 The Banque Internationale pour le Commerce, l’Industrie et l’Artisanat du Burkina (BICIAB), a BNP Paribas Group subsidiary, will provide $16.5-million in financing to Eren Renewable Energy for a 15 MW solar power plant that is under construction in Burkina Faso. The funding was granted to... 

South African silicosis case nears out-of-court settlement

By: Reuters     22nd November 2017 Lawyers acting for thousands of miners who contracted fatal lung diseases silicosis and TB in mines said on Tuesday settlement talks with implicated gold companies for an out-of-court deal could be reached by December. The High Court last year set the stage for protracted proceedings on cases... 

Maximus sees opportunities for further gold deposits at Spargoville

By: Megan van Wyngaardt     22nd November 2017 ASX-listed gold miner Maximus Resources on Wednesday said it was aggressively pursuing further resource definition across the Spargoville gold project area, 70 km south of Kalgoorlie, in Western Australia’s eastern goldfields, while actively progressing the conversion of existing resources into... 

Nevsun loses bid to stop Canadian lawsuit over forced labour claims in Africa mine

By: Reuters     22nd November 2017 Nevsun Resources lost its bid to have a Canadian court throw out a lawsuit by Eritreans workers who say they were forced to work at its mine in East Africa, according to an appeals court judgment released on Tuesday. A lower Canadian court ruled last October that the lawsuit against Nevsun can... 

Mali says gold mining revenues increased 14% in 2016

By: Reuters     22nd November 2017 Gold mining revenues in Mali increased by 14% in 2016 to 280-billion CFA francs ($505-million), Mines Minister Tiemoko Sangare said on Tuesday, revising an earlier estimate. Earnings in 2015 amounted to 245-billion CFA francs. 

Parliament delays passing key mining law

By: Reuters     22nd November 2017 South Africa's Parliament will miss a December target to pass changes to mineral resource laws, seen as key for greater investor certainty, a senior Parliamentary official said on Tuesday. In September, Mines Minister Mosebenzi Zwane told a mining conference in Australia that the new target date... 

Parliament delays passing key mining law
Photo by Duane Daws
Mineral Resources Minister Mosebenzi Zwane

Money 'tsunami' may spur quadrupling of gold prices, McEwen says

By: Bloomberg     22nd November 2017 Gold has bottomed out, according to one of the industry’s biggest bulls. Prices could surpass $5 000/oz in five years, from about $1 280 now, as investors seek returns amid a prolonged period of cheap money and use the metal as a haven from geopolitical and financial risk, McEwen Mining CEO Rob... 

Money 'tsunami' may spur quadrupling of gold prices, McEwen says
McEwen Mining CEO Rob McEwen

Havilah teams up with CMC to develop North Portia

By: Creamer Media Reporter      22nd November 2017 South Australia copper-focused junior Havilah Resources and mining partner Consolidated Mining and Civil (CMC) have agreed to jointly advance the North Portia copper/gold deposit, which is a key element of miner’s copper growth strategy. The parties have signed a binding memorandum of... 

Gascoyne raises funds for ‘aggressive’ exploration

By: Mariaan Webb     22nd November 2017 Gold exploration and development company Gascoyne Resources said on Wednesday that it had completed a bookbuild to raise about A$21.5-million for a regional exploration programme at the Dalgaranga and Glenburgh gold projects, as well as for the development of the Dalgaranga gold mine. The company... 

Aurelia raises A$70m to fund Peak mines acquisition

By: Mariaan Webb     22nd November 2017 New South Wales-based explorer and developer Aurelia Metals has received strong support from investors for its capital raising to fund the acquisition of the Peak mines, in Cobar, from Canadian miner New Gold. An oversubscribed institutional placement raised A$70-million, which together with a... 

Canadian federal agency rejects NGO complaint regarding KSM project permitting process

By: Henry Lazenby     21st November 2017 A Canadian federal agency has rejected a request for review (RfR) by nongovernmental organisation (NGO) the Southeast Alaska Conservation Council (SEACC) of the permitting process regarding Seabridge Gold’s Kerr-Sulphurets-Mitchell (KSM) project, in British Columbia. The Canadian National Contact... 

Polyus starts two-year drilling campaign at large gold deposit

By: Creamer Media Reporter      21st November 2017 A two-year, 180 000 m drilling campaign at the Sukhoi Log deposit – Russia’s biggest greenfield gold project – has started. A three-dimensional block model, which used historical drilling results, has estimated an inferred mineral resource of 58-million ounces, grading 2 g/t. 

West Wits taps into Witwatersrand expertise for Pilbara projects

By: Mariaan Webb     21st November 2017 Gold junior West Wits intends to leverage its Witwatersrand basin geology expertise when it embarks on scaling up operations at its new Pilbara conglomerate gold projects, chairperson Michael Quinert said on Tuesday, announcing that the company is buying more gold leases south-east of Port... 

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