R/€ = 15.77 Change: 0.02
R/$ = 13.37 Change: 0.05
Au 1293.67 $/oz Change: -3.59
Pt 924.50 $/oz Change: -2.00

Gold News

Hedge fund Paulson & Co calls for joint shareholder action vs gold miners

By: Reuters     Updated 1 hour 15 minutes ago New York-based Paulson & Co, led by longtime gold bull John Paulson, called on Tuesday for the world's biggest investors in gold-mining stocks to form a coalition to tackle miners' "dreadful" performance as it launched a blistering attack on the industry's track record. Speaking at the Denver... 

BC’s NDP-led govt talks up exploration, mining as basis for building burgeoning communities

By: Henry Lazenby     Updated 1 hour 22 minutes ago British Columbia is ‘ground zero’ for mining in Canada, as technological advances require an ever-increasing volume of metals to satisfy improving standards of living and environment-friendly technologies. This was the key message attendees at the fourth annual Resource Breakfast Series heard on... 

BC’s NDP-led govt talks up exploration, mining as basis for building burgeoning communities
Photo by British Columbia Government
BC Minister for Energy, Mines and Petroleum Michelle Mungall was formally sworn in by Lieutenant Governor Judith Guichon

Sula strikes 'bonanza grade' gold in Sierra Leone

By: Reuters     Updated 6 hours ago Sula Iron & Gold, a London-listed mining firm focused on Sierra Leone, said on Tuesday it had found gold of almost "bonanza grade" and its board would forgo their salaries while the company exploits the resource. The latest assay at the Ferensola gold project in the Sula Mountains of Sierra... 

Court rules in favour of Conroy Gold

By: Mariaan Webb     Updated 6 hours ago The High Court in Dublin on Tuesday ruled in favour of gold explorer Conroy Gold and Natural Resources in the case brought against the company by shareholder Patrick O’Sullivan. O’Sullivan turned to the court after chairperson Richard Conroy blocked him from seeking the appointment of three new... 

Pan African fields questions on gold hedging, guidance, wages 

By: Martin Creamer     Updated 7 hours ago Gold mining company Pan African Resources, which is completely unhedged except for the hedging of 27 000 oz of gold that will be produced next year from its upcoming Elikhulu tailings treatment project, views hedging with extreme caution. In response to Nedbank equity analyst Arnold van Graan,... 

Pan African fields questions on gold hedging, guidance, wages
Pan African Resources FD Deon Louw’s hedging views covered by Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer

Vast says strategic investment will be at project level

By: Creamer Media Reporter      26th September 2017 Aim-listed Vast Resources reported on Tuesday that it would not issue new shares to the potential strategic investors that it has been talking to and that any forthcoming investment would be at solely at project level. In an update on its discussions regarding a potential $10-million strategic... 

Banro temporarily suspends Namoya operations

By: Anine Kilian     26th September 2017 Dual-listed Banro has temporarily suspended operations at its Namoya mine, in the Maniema province of the Democratic Republic of the Congo (DRC). This is owing to road access closure because of activities by local groups against both the local population and against the DRC army, which has... 

Judgment date set for Omagh underground planning consent review

By: Mariaan Webb     26th September 2017 A date has been set for judgment in the judicial review into the 2015 planning permission for underground mining at the Omagh gold mine, in Northern Ireland, Galantas Gold reported on Tuesday. The Canadian company, which is dual listed on the TSX-V and Aim, said the Belfast High Court would... 

We're reaching peak gold just as political panic drives demand

By: Bloomberg     26th September 2017 The world may have already produced the most gold in a year it ever will, according to the chairperson of the World Gold Council. Production is likely to plateau at best, before slowly declining as demand rises, especially given global political risks and robust purchases by consumers in India... 

Saracen sells Red October mine to Matsa for cash and shares

By: Esmarie Swanepoel     26th September 2017 ASX-listed gold miner Saracen Mineral Holdings has inked an agreement with fellow listed Matsa Resources to divest of its Red October gold mine, in Western Australia. Saracen MD Raleigh Finlayson told shareholders on Tuesday that the sale of the Red October mine was an opportunity for the... 

WA gold miners warned of ASX suspension

By: Esmarie Swanepoel     26th September 2017 he Australian Securities Exchange (ASX) has warned that it could temporarily suspend the share trading of Western Australian gold producers if the state government’s plans to increase gold royalties were passed through Parliament. The Australian on Tuesday reported that the ASX would repeat the... 

Investors wary as Tanzania moves to assert more control over mines

By: Reuters     26th September 2017 New laws and a crackdown on mining firms in Tanzania has slowed fresh investment in what has long been seen as one of Africa's brightest mining prospects as companies assess the consequences of government efforts to claim a bigger slice of the pie. Takeover bids and exploration plans have been... 

Endeavour runs first ore through new Houndé mill

By: Henry Lazenby     26th September 2017 TSX-listed gold miner Endeavour Mining has started wet commissioning of the new Houndé gold project, in Burkina Faso, with the first ore making its way through the milling circuit, the company advised on Monday. The London, UK-based miner said construction of the $281-million project is... 

China's miners need more leeway, Zijin's Chen says

By: Reuters     25th September 2017 China's mining industry will shrink if the government does not cut it some slack in return for compliance with strict environmental policies, the head of one of the country's largest gold miners said on Saturday. "We don't have friendly policies in this industry," Chen Jinghe, chairperson of... 

Gold companies take a shine to China's Silk Road

By: Reuters     25th September 2017 As far as China's miners are concerned, the modern-day Silk Road is paved with gold. Buoyed by a 15% rise in the gold price this year, Chinese mining executives in Tianjin this weekend were talking up their ambitions for overseas expansion. 

Gold companies take a shine to China's Silk Road

Lower metals prices weigh on materials price index – IHS

By: Henry Lazenby     23rd September 2017 The materials price index (MPI) from Global Insight by IHS Markit has slipped 0.1% last week, the first decline in four weeks, as metal markets finally began to slide, the firm advised on Friday. The strength of the last few weeks has been mainly attributable to a surge in metal prices and the... 

Argonaut adds resources at its two operating assets

By: Henry Lazenby     23rd September 2017 On the heels of pouring first gold at its brand-new San Agustin project earlier this week, Mexico-focused miner Argonaut Gold has also increased the pit-constrained resources at its two operating mines, the company has advised. At El Castillo, the Toronto-based miner added about 328 000 oz of... 

Tahoe dials up gold guidance as Escobal impasse drags on

By: Henry Lazenby     23rd September 2017 Precious metals miner Tahoe Resources has increased its guidance for expected gold output while its flagship Escobal mine, in Guatemala, continues to languish in care and maintenance, despite holding a valid licence to mine. The Vancouver-headquartered company announced after market close on... 

Gold Fields says KPMG still external auditors

By: Reuters     22nd September 2017 South African gold mining company Gold Fields said on Friday that KPMG remains its external auditor but it will continue to monitor future developments. "The Gold Fields board of directors has considered the matter and will be closely following future developments in this area. KPMG remain the... 

Acacia repositions Buzwagi mine to produce only gold doré

By: Creamer Media Reporter      22nd September 2017 LSE-listed Acacia Mining will reposition its Buzwagi mine, in Tanzania, to produce only gold doré until the end of its life in 2020. This follows positive results from a processing trial that indicated that the mine should be able to achieve gold recoveries of about 85% through the additional use... 

Wyatt disregarding worker concerns - CME

By: Esmarie Swanepoel     22nd September 2017 The Western Australian Chamber of Minerals and Energy (CME) has lashed out at comments made by Treasurer Ben Wyatt, warning that he should not diminish or disregard the concerns of thousands of gold workers in the region. Wyatt this week said that more than 600 jobs were to be created in the... 

Pan African poised for growth  

     22nd September 2017 More than a third of the yearly gold production of Pan African Resources is destined to arise from low-cost, low-risk tailings businesses, it was revealed at the company’s results presentation this week. Creamer Media's Sashnee Moodley speaks to Mining Weekly editor Martin Creamer about the... 

Pan African poised for growth
Pan African poised for growth

Alamos expands revolver by $250m

By: Henry Lazenby     22nd September 2017 TSX- and NYSE-listed miner Alamos Gold has reached agreement with its syndicate of lenders to increase its undrawn existing $150-million revolving credit facility by $250-million to $400-million on more favourable terms the company announced on Thursday. Based in Canada’s financial capital... 

Primero’s fall from grace accelerates on San Dimas ramp-up delay

By: Henry Lazenby     22nd September 2017 Precious metals producer Primero Mining’s proverbial fall from grace is near complete with the company once more trading in penny stock territory since early September – a level last seen in 2009 and a far cry from its peak at C$8.89 a share in July 2014. The Toronto-based company’s NYSE- and... 

Construction starts on Pan African’s R1.7bn Elikhulu tailings retreatment project

By: Ilan Solomons     22nd September 2017 Government, trade unions and traditional leadership have heaped praise on South African precious metals miner Pan African Resources for the development of its R1.7-billion Elikhulu tailings retreatment plant (TRP) project, located at the company’s Evander gold mine, in Mpumalanga. Speaking at the... 

Construction starts on Pan African’s R1.7bn Elikhulu tailings retreatment project
Photo by Creamer Media image
ELIKHULU CONSTRUCTION START Pan African CEO Cobus Loots, Mpumalanga Finance, Economic Development and Tourism MEC Eric Kholwane and Department of Mineral Resources director-general Advocate Thabo Mokoena

Master Drilling aiming to extend geographical, technological diversification

By: Mia Breytenbach     22nd September 2017 Raise-boring and drilling solutions provider Master Drilling continues to extend its service provision capacity and technology reach, with the company focusing on diversifying into new markets and industries and advancing technologically. “Diversification across geographies, commodities,... 

Master Drilling aiming to extend geographical,  technological diversification
KEY COMPONENT Master Drilling aims to grow business not only in underground mining, but also in openpit mining, which makes up the majority of mining

Eldorado calls off threat to shutter Greek development projects as relations thaw

By: Henry Lazenby     21st September 2017 Canadian gold producer Eldorado Gold reports that icy relations with the leftist Greek government is on the mend, and it has temporarily postponed its threats to mothball development of the Kasandra Mines assets in Halkidiki, Northern Greece. The Vancouver-based company said on Thursday that it... 

Pan African rolling out vibrant internal growth projects 

By: Martin Creamer     21st September 2017 Midtier gold mining company Pan African is rolling out vibrant internal growth projects involving the revival of Evander Mines’ 7 Shaft and the alleviation of congestion at Barberton Mines’ Fairview operation, which will provide the flexibility needed to better exploit what is arguably the... 

Pan African rolling out vibrant internal growth projects
Pan African Resources CEO Cobus Loots outlines gold growth projects to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer.

Zimbabwe's Jan-August gold production rises 10%

By: Reuters     21st September 2017 Zimbabwe's gold production rose 10% in the first eight months of this year to 14.6 t, buoyed by higher output from small and informal producers, official data showed on Thursday. Gold is Zimbabwe's single largest mineral export. 

Red 5 warns of further impairments

By: Esmarie Swanepoel     21st September 2017 Gold miner Red 5 has warned of a noncash impairment of between A$28-million and A$30-million on the carrying value of its Siana gold project, in the Philippines. The impairment charge expected to be recorded in the June year-end will be in addition to the A$70.4-million expense recorded in the... 

Red 5 warns of further impairments

Kyrgyzstan awards Chaarat permits for Tulkubash heap leach project

By: Mariaan Webb     21st September 2017 Aim-quoted Chaarat Gold has received all necessary approvals to bring its Tulkubash heap-leach project, in Kyrgyzstan, into production in 2019, the company announced on Thursday. This follows the State Committee of Energy, Industry and Subsoil Use’s (SCEIS’s) approval of Chaarat’s technical... 

Kyrgyzstan awards Chaarat permits for Tulkubash heap leach project

Ulysses feasibility study under way

By: Esmarie Swanepoel     21st September 2017 Gold hopeful Genesis Minerals has launched a feasibility study on an underground mining operation at its Ulysses project, in Western Australia, with the hopes of starting underground mining in the second quarter of 2018. The company said on Thursday that an internal scoping study had... 

Copper Hill value increases - Golden Cross

By: Esmarie Swanepoel     21st September 2017 An independent valuation by GEOS Mining has found that the Copper Hill copper-gold project, in New South Wales, was worth an estimated preferred A$14.4-million. Project owner Golden Cross Resources said on Thursday that the project’s worth had been estimated at between A$7.6-million and... 

Miner Hochschild on hunt for acquisitions – executive

By: Reuters     21st September 2017 London-based precious metals miner Hochschild Mining is looking for opportunities to grow through acquisitions of early-stage projects, the chief executive said on Wednesday. Speaking during a presentation at the mining convention Perumin, in southern Peru, Ignacio Bustamante added that the... 

Roxgold lifts FY guidance 9%

By: Henry Lazenby     21st September 2017 TSX-listed issuer Roxgold has increased its full-year guidance by nearly 9% to a range of between 115 000 oz and 125 000 oz of gold, compared with the previous guidance of 105 000 oz to 115 000 oz. The Toronto-based company, which operates its flagship Yaramoko gold mine, in the Houndé greenstone... 

Angkor, Renaissance get Cambodian approval to proceed with Koan Nheak exploration

By: Henry Lazenby     20th September 2017 TSX-V-listed Angkor Gold has, together with its joint venture partner Renaissance Minerals, received approval from the Cambodian Ministry of Mines and Energy to proceed with their joint exploration plans of Koan Nheak under a definitive earn-in agreement signed in July. Renaissance is a Cambodian... 

Integra seizes precious metals opportunity in Idaho

By: Henry Lazenby     20th September 2017 Mere months after Integra Gold was bought out in a deal worth about C$590-million by Eldorado Gold, essentially the same team – reincarnated as Integra Resources – has reached agreement with major Kinross Gold to buy the DeLamar gold/silver mine, in Southern Idaho. The C$7.5-million... 

Endeavour board OKs Ity CIL expansion in Cote d'Ivoire

By: Henry Lazenby     20th September 2017 West African gold producer Endeavour Mining has given the $412-million Ity carbon-in-leach (CIL) project, in Cote d'Ivoire, the go-ahead, adding about 235 000 oz/y over the first five years to Endeavour’s current production profile of between 600 000 oz and 640 000 oz this year, at lower costs.... 

Endeavour board OKs Ity CIL expansion in Cote d'Ivoire
Photo by Endeavour Mining
Endeavour Mining's Ity mine, in Cote d'Ivoire
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