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Chesser sells another Turkish asset

By: Esmarie Swanepoel ASX-listed junior Chesser Resources on Wednesday confirmed that it had executed a legally binding agreement with joint venture partner Eurasian Minerals to sell its 51% stake in the Sisorta gold project, in Turkey. Under the agreement, Chesser would give full ownership of Sisorta to Eurasian for... 

Gold Fields could spend up to $500m for working mine

By: Reuters South African bullion producer Gold Fields can afford to spend $300-million and $500-million on an acquisition but is only interested in working mines, its chief executive said. Nick Holland told the Reuters Africa Investment Summit on Tuesday the bulk of mines that fell into that category were... 

Khulubuse Zuma loses Aurora court bid

By: Sapa An urgent application by Khulubuse Zuma to have claims of over R1.5-billion against Aurora Empowerment Systems set aside, was dismissed by the High Court in Pretoria on Tuesday. "The application is dismissed with costs," Judge Eberhardt Bertelsmann said. 

A1 expects gold production from Maldon in three weeks

By: Esmarie Swanepoel Ore processing at the Maldon gold operation, in Victoria, has started, owner A1 Consolidated Gold announced on Tuesday. Prior to restarting ore processing operations at Maldon, A1 Consolidated completed a mill improvement and maintenance programme, which focused on repairing the grinding circuit. 

True Gold formalises technical shutdown at Burkina Faso project

By: Henry Lazenby Damages to equipment and site infrastructure, sustained during a violent protest by local communities at Canadian project developer True Gold's Karma project, in Burkina Faso, in January, amounted to about $6.1-million. The Vancouver-based company on Monday said it had formalised a technical... 

Five years on, Quebec’s Plan Nord 2.0 aims for coherence in low-price environment

By: Henry Lazenby When the Quebec government’s Plan Nord to develop the parts of the province located north of the 49th parallel was launched under Jean Charest’s Quebec Liberal Party in May 2011, it was heralded as a timely and necessary act in the mining industry’s favourable economic context at the time. But a... 

Five years on, Quebec’s Plan Nord 2.0 aims for coherence in low-price environment
Photo by Reuters
Former Quebec Premier Jean Charest unveiled the Plan Nord on May 9, 2011.

Silver Wheaton lifts Salobo mine gold stream

By: Henry Lazenby Precious metals streaming firm Silver Wheaton has acquired another 25% stake in the gold output from Vale’s Salobo mine, in Brazil. The deal immediately increased Silver Wheaton's output and cash flow profile by enhancing its expected average gold output by 70 000 oz/y for the first ten years and... 

Greece revokes approval for Eldorado Gold’s Skouries project

By: Henry Lazenby Greece has revoked the approval required by Vancouver-based Eldorado Gold to complete construction of the Skouries project processing plant. The company on Monday announced that its subsidiary Hellas Gold on Friday received the notice from Greece's Ministry of Productive Reconstruction, Energy... 

New tech competitive this year – AngloGold

By: Martin Creamer The new raise-boring technology, which produced 100 kg of gold for AngloGold Ashanti in 2014, is targeted to be competitive with conventional mining this year. Last year the company used the raise-bore technology to drill 83 holes in shaft pillars that are unsafe to mine conventionally. 

New tech competitive this year – AngloGold
Photo by Creamer Media
Mike O'Hare

Turbines boosting mine power – AngloGold 

By: Martin Creamer Gold major AngloGold Ashanti is installing turbines in underground mines to boost energy regeneration, as part of a strategy of recovering electricity without spending significant amounts of capital. “What we’ve done is put in energy regeneration and capture plants in the form of turbines at two... 

Turbines boosting mine power – AngloGold
Photo by Creamer Media
Mike O'Hare

Randgold appoints former Côte d’Ivoire energy Minister to board

By: Creamer Media Reporter Dual-listed Randgold Resources has appointed Safiatou Francoise Ba-N'Daw as an independent nonexecutive director with effect from March 1. Ba-N’Daw was educated in Côte d’Ivoire, France and the US and she holds an MBA from Harvard University. 

Thailand lifts Chatree suspension order – Kingsgate

By: Mariaan Webb Australian junior Kingsgate Consolidated has resumed mining activities at its Chatree gold operation in Thailand, after authorities on Friday lifted a temporary suspension order. The shutdown was ordered in January after random urine and blood tests of villagers nearby the mine revealed... 

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India gold prices to rise after budget keeps import duty high

By: Reuters Gold premiums in top consumer India could jump to as much as $5 an ounce over world prices next week, from being almost at par, after Finance Minister Arun Jaitley surprised jewellers by maintaining import duty at a record level in Saturday's budget. The wedding season that extends to May... 

Canadian fed and Ontario govts unveil supports for mining industry

By: Henry Lazenby Several federal departments of the Canadian government, as well as the Ontario provincial government, unveiled new measures and investments on Sunday to increase support and drive growth in the country's besieged mining industry. In a speech to the Prospectors & Developers Association of Canada,... 

Canadian fed and Ontario govts unveil supports for mining industry
Photo by Reuters
Canadian Finance Minister Joe Oliver

Silver Wheaton lifts revolving credit facility to $2bn

By: Henry Lazenby The world’s largest precious metals streaming firm Silver Wheaton has amended and restated its revolving credit facility on Friday, increasing the available credit from $1-billion to $2-billion and extending the term by two years to February 27, 2020. Silver Wheaton advised that it used proceeds... 

US Mint American Eagle gold coin sales tumble in February

By: Reuters US Mint American Eagle gold coin sales in February were the weakest for the second month of the year since 2007, and down 77% from January, according to data on Friday, as investors eyed the soaring stock markets. The US Mint sold 18 500 oz of gold bullion coins this month, down from 31 000... 

Endeavour reports wider Q4 loss on impairment charges

By: Henry Lazenby Canadian gold producer Endeavour Mining has reported a significantly wider net loss for the three months ended December, as notable impairment charges on its Tabakoto mine, in Mali, weighed on financials. The ASX- and TSX-listed company on Thursday reported a net loss attributable to shareholders... 

Caledonia progresses revised investment plan at Blanket mine

Work that formed part of Aim-listed Caledonia Mining Corporation’s revised investment plan for its Blanket gold mine, in Zimbabwe, would be completed by July. As part of its plan the company planned to develop a tramming loop 750 m below surface, which was now at 384 m. 

Newcrest downsizes Evolution shareholding

By: Esmarie Swanepoel Gold major Newcrest Mining has reduced its shareholding in fellow-listed Evolution Mining from 32.3% to 14.9% in an overnight sell-down of shares. The sale was priced at 85c a share, generating proceeds of some A$106-million, which Newcrest would use to repay debt. 

Troy's higher gold output results in more revenue

By: Esmarie Swanepoel ASX- and TSX-listed gold miner Troy Resources has reported a 22% increase in revenues for the half-year ended December, on the back of a higher gold output. The miner on Friday reported that gold equivalent production during the interim period reached 65 014 oz, compared with the 60 334 oz... 

Beadell signs off on tough year

By: Esmarie Swanepoel Gold miner Beadell Resources on Friday reported a $100-million drop in net profit after tax for the financial year ended December, with higher costs of production, a foreign exchange rate loss and tax liabilities negatively impacting on the company’s financial performance. Net profit after tax... 

Colombian mining tax regime counterproductive to investment, profit

By: Henry Lazenby The Colombian mining tax regime has imposed a significantly high tax burden on marginal investments in mining, discriminated across minerals and was counterproductive to project profitability, pointing to a need to improve the country's mining tax regime. This was according to a report released... 

Aus explorer exercises option to acquire two US projects

By: Henry Lazenby Australian explorer Carnavale Resources has exercised an option to acquire private firm Tojo Minerals, which has the rights to the Red Hills project, in Nevada, and the Little Butte project, in Arizona. Perth, Australia-based Carnavale said in a statement that it would move to immediately ramp-up... 

12.9% of mineworkers severely indebted

By: Jonathan Rodin A recent study by the University of Pretoria has shown that 12.9% of South African mining industry employees have emolument attachment orders (EAOs), or garnishee orders, against their names and are severely indebted. This is as a result of mineworkers’ stable employment status, as they are being... 

12.9% of mineworkers  severely indebted
Photo by Duane Daws
A HELPING HAND Gold majors are putting various measures in place to deal with the actions of unscrupulous lenders and the effect it has on vulnerable mineworkers

2014 gold demand declines despite 6% surge in final quarter

By: Ilan Solomons Fourth quarter (Q4) gold demand for 2014 rose 6% to 987.5 t from 930 t for the same period during 2013, propelled largely by the demand for jewellery and central bank buying, according to the World Gold Council’s ‘Gold Demand Trends’ full year report, which was released this month. However, the... 

2014 gold demand declines despite 6% surge in final quarter
GOLDEN SECURITY Central banks continue to see the value of gold as a reserve asset

Golpu project to proceed to feasibility stage

Gold miner Harmony Gold will progress its Golpu project, in Morobe province, Papua New Guinea (PNG) to the feasibility study stage this year following the approval of the project’s updated prefeasibility study (PFS), in December. The feasibility study for the first stage and the updated PFS for... 

Maiden resource estimate for Burkina Faso gold project targeted

Gold and base metal exploration company Alecto Minerals is on track to achieve a maiden resource estimate for its 399.5 km2 Kerboulé gold project in the highly prospective Birimian-age Djibo gold belt in northern Burkina Faso, later this year. The company last month announced that a detailed... 

Mining industry consumables demand remains stable

By: Jonathan Rodin Despite the current volatile state of the South African mining industry, the demand for consumables remains positive, as not many mines have closed down, says local screening and vibrating-equipment solutions supplier Aury Africa MD Mark Houchin. “As long as a mine is running, it will need... 

Seal solution decreases the impact of dust on communities

By: Jonathan Rodin Environmental management company I-CAT Environmental Solutions – in partnership with gold producer and surface gold tailings retreatment expert DRD Gold – has reduced the impact of dust on communities in the vicinity of DRD’s tailing dam surrounding the FNB Stadium, in Johannesburg, by applying... 

Endeavour Mining raises stake in West Africa-focused Legend Gold

By: Henry Lazenby West Africa-focused gold producer Endeavour Mining has filed an ‘early warning report’, as required by National Instrument 62-103, after increasing its holdings in Mali-focused explorer Legend Gold to about 18.75%. Vancouver-based Endeavour had received a further 2.5-million Legend common shares,... 

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