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Gold News

OreCorp to raise A$20.6m to fast-track Tanzania project

By: Esmarie Swanepoel     Updated 2 hours 3 minutes ago ASX-listed OreCorp will raise A$20.6-million through a share placement to institutional and sophisticated investors to fast-track the development of its Nyanzaga gold project, in Tanzania. The company will place 43-million ordinary shares at an issue price of 48c each to investors in North... 

Vango starts dewatering at K2

By: Esmarie Swanepoel     Updated 2 hours 13 minutes ago ASX-listed gold developer Vango Mining has started its dewatering programme at the K2 underground gold mine, in Western Australia. “We are delighted to be in a position to commence dewatering of the K2 deposit. Despte an extended period of heavy seasonal rain at the project area, we have been... 

Jervois granted special status in NT

By: Esmarie Swanepoel     Updated 2 hours 16 minutes ago The Northern Territory government has awarded the Jervois copper-silver-gold project major project status, inking a project facilitation agreement (PFA) with owner KGL Resources. The PFA requires the territory government and the company to work together to progress the project through the... 

Acacia rebuffs reports that it violated Tanzanian concentrate export ban

By: Henry Lazenby     28th March 2017 London-listed gold producer Acacia Mining has denied allegations that it is trying to export gold and copper concentrates from Tanzania, despite the ban instituted by that country's government. Neither the company nor its customers have attempted to export gold and copper concentrates, the... 

Radisson chases potential ‘game-changing’ discovery at high-grade O’Brien project

By: Henry Lazenby     28th March 2017 Following on the heels of a successful 2016 exploration campaign, junior explorer Radisson Mining Resources has doubled its current drill programme to 20 000 m and added a second drill at the O’Brien project, cut by the prospective regional Larder-Lake-Cadillac Fault, in Quebec. Emboldened by... 

Radisson chases potential ‘game-changing’ discovery at high-grade O’Brien project
Photo by Radisson Mining Resources
Radisson observed specks of visible gold at a depth of 533 m in the Piche conglomerate

Goldcorp, Barrick creating another NuevaUnión-like JV at close to discovery cost

By: Henry Lazenby     28th March 2017 Canadian gold majors Goldcorp and Barrick Gold on Tuesday announced a series of transactions that will result in the creation of a new 50:50 joint venture (JV) over a new project located in the Atacama region of Chile, that combines Barrick and Kinross Gold’s Cerro Casale project, with Exeter... 

Goldcorp, Barrick creating another NuevaUnión-like JV at close to discovery cost

Giant gold coin worth $4m stolen in Berlin museum heist

By: Bloomberg     28th March 2017 Burglars stole a 100 kg (220 lb), solid-gold coin worth $4-million from a Berlin museum in a heist out of a Hollywood movie. A security guard at the Bode Museum alerted police early Monday morning that the coin – which carries Queen Elizabeth II’s imprint and is called "Big Maple Leaf" – had been... 

Randgold hoists dividend 900% in ten years

By: Martin Creamer     28th March 2017 Gold mining company Randgold Resources on Tuesday reaffirmed its intention to increase its final dividend for the year ended December 31, 2016. Since its first dividend in its 2006 financial year, the yearly dividends have increased by 900% over the ten-year period. 

Randgold hoists dividend 900% in ten years
Photo by Duane Daws
Randgold Resources CEO Mark Bristow

Troy restructures Investec debt

By: Esmarie Swanepoel     28th March 2017 ASX-listed gold miner Troy Resources has restructured its revolving debt facility with Investec Bank, extending the maturity date by six months to the end of December 2018 and reducing the March and June quarter repayments. A $2-million repayment was now due at the end of March, while a further... 

St Barbara approves A$100m for Gwalia extension project

By: Esmarie Swanepoel     28th March 2017 The board of gold miner St Barbara has approved a A$100-million investment to expand its Gwalia operations, in Western Australia. “The approval of the Gwalia extension project begins an exciting new phase in St Barbara’s and the Gwalia mine’s story. Gwalia started in 1896 and it just keeps... 

St Barbara approves A$100m for Gwalia extension project

Colombia municipality, home of AngloGold project, votes to ban mining

By: Reuters     28th March 2017 Voters in Colombia's Tolima province have backed a proposal to ban mining projects in their municipality, a result that raises questions about the future of an AngloGold Ashanti gold exploration in the area. South Africa's AngloGold may not be permitted to extract gold at its flagship Colombian... 

Agnico sells $220m in stock to single US institutional investor

By: Henry Lazenby     28th March 2017 Dual-listed Canadian gold producer Agnico Eagle Mines has agreed to issue and sell five-million of its common shares directly to an institutional investor in the US at a price of $43.97 apiece, or about $220-million in total. Toronto-based Agnico said it will use the net proceeds of the offering... 

Osisko Gold Royalties picks up 0.75% Cariboo NSR from Barkerville

By: Henry Lazenby     27th March 2017 TSX-V-listed Barkerville Gold Mines has sold another 0.75% net smelter return (NSR) royalty on its flagship Cariboo gold project, in central British Columbia, to TSX-listed Osisko Gold Royalties for C$12.5-million in cash. This will take Osisko’s total NSR royalty on the Cariboo project to 2.25%,... 

Southern Gold partners with London-listed firm on two Korean projects

By: Esmarie Swanepoel     27th March 2017 Gold producer Southern Gold could restart two of its Korean gold mines with the help of LSE-listed Bluebird Merchant Ventures. ASX-listed Southern Gold on Monday announced that it has signed a conditional agreement with Bluebird for the farm-in on two of Southern Gold’s 17 gold projects in South... 

Orinoco gets new COO

By: Esmarie Swanepoel     27th March 2017 Brazil-focused gold miner Orinoco Gold has appointed Craig Dawson as COO, effective immediately. He has more than 30 years experience in the Australian and international mining industry and has held senior operational positions at a number of midtier and global mining companies, including GM at... 

Klondex to lift FY17 output 36%

By: Henry Lazenby     25th March 2017 Gold and silver producer Klondex Mines has forecast a 36% year-on-year increase in output for 2017, after producing a record 151 007 gold equivalent ounces (GEOs) from its Nevada operations last year, exceeding the high end of management's guidance range. "We expect to produce between 210 000 and... 

Govt to ‘amend and relax’ laws for small-scale miners in bid to combat illegal mining

By: Ilan Solomons     24th March 2017 JOHANNESBURG (miningweekly.com) –  The Department of Mineral Resources (DMR) will “amend and relax” some of its conditions in issuing mining permits to small-scale miners, Mineral Resources Deputy Minister Godfrey Oliphant said on Friday. The Deputy Minister was speaking following the conclusion... 

Govt to ‘amend and relax’ laws for small-scale miners in bid to combat illegal mining
Mineral Resources Deputy Minister Godfrey Oliphant

CRG raises funds for working capital, concentrator circuit

By: Megan van Wyngaardt     24th March 2017 Central Rand Gold (CRG) has raised £300 000 through the issue of 60-million new ordinary shares at an issue price of 0.5p apiece. The proceeds will be used for working capital and building a 60 000 t/m concentrator circuit aimed at upgrading the gold grade of mine waste dumps materials before... 

Reviving king of gold means getting mine workers off their knees

By: Bloomberg     24th March 2017 During his early years as a miner in South Africa, Joas Mahanuque spent six hours a day on his knees drilling for Impala Platinum Holdings Ltd. The dust-filled tunnels half a mile underground were too low for him to stand, and temperatures reached 105 degrees Fahrenheit (40 degrees Celsius).... 

Revised mine plan, updated reserves extend life of Shanta’s New Luika mine

By: Mia Breytenbach     24th March 2017 Aim-listed Shanta Gold has announced a revised mine plan for its New Luika gold mine, in Tanzania, for January 2017 to December 2023, as well as an updated reserve plan for the mine. The revised mine plan is expected to result in a 39% increase in forecast gold production for 2017 to 2023, from... 

Tanzania gold export ban costing Acacia $1m a day in lost revenue

By: Megan van Wyngaardt     24th March 2017 The recent implementation of a gold and copper exports ban by the Tanzanian government is costing its largest gold miner, Acacia Mining, an average of $1-million a day in revenues. LSE-listed Acacia Mining on Friday said it was now taking a “range of actions” at its Bulyanhulu and Buzwagi mines... 

Kusasalethu strike ends

By: Megan van Wyngaardt     24th March 2017 A two-day unprotected strike at Harmony Gold's Kusasalethu mine, near Carletonville, drew to a close on Friday afternoon, following discussions between Harmony's senior management and the senior leadership of the Association of Mineworkers and Construction Union (AMCU). “I am pleased that the... 

Kusasalethu strike ends

Kingsrose administrators raise cash

By: Esmarie Swanepoel     24th March 2017 The administrators of ASX-listed Kingsrose Mining have announced that the company has raised some A$5.4-million through a secured convertible loan facility to assist with its restructuring. The gold junior in December 2016 went into voluntary administration, placing its Talang Santo mine, in... 

Sandstorm acquires 22 NSR royalties in Q1

By: Henry Lazenby     24th March 2017 Canadian gold streaming and royalty company Sandstorm Gold has acquired 22 net smelter return (NSR) royalties during the first quarter of 2017 for $1.9-million in cash. The assets include royalties on development-stage, advance exploration-stage and other exploration-stage projects located in... 

Digitalising underground drilling

     24th March 2017 Digitalisation will improve drilling accuracy and cycle times, and reduce operation costs by improving the efficiency of the drilling and bolting phase, says global engineering group Sandvik. “Drilling as planned, with accurate visual information, leads to continuous improvement across the whole... 

Digitalising underground drilling
DIGITAL DRILLING Sandvik AutoMine compatible underground offering allows customers to significantly upgrade their operations’ productivity and safety

Nevsun finds more mineralisation at Eritrea-based Bisha, satellite deposits

By: Henry Lazenby     23rd March 2017 Canadian base metals producer Nevsun Resources has found more mineralisation at its flagship Bisha mine and satellite deposits in Eritrea, on the Horn of Africa. Drilling undertaken in 2016 has increased the inferred resource at the Harena deposit by nearly 130% to 25-million tonnes grading 0.93%... 

Nevsun finds more mineralisation at Eritrea-based Bisha, satellite deposits
Photo by Nevsun Resources
Bisha, Eritrea

Gold mining operations need to transform into 'mines of the future' 

By: Natasha Odendaal     23rd March 2017 Gold Fields CEO Nick Holland believes it is time for current gold mining operations to “fundamentally transform” into “mines of the future" in order to prosper. Speaking at the University of the Witwatersrand’s (Wits’) School of Mining Engineering’s celebration of 120 years of service, on... 

Gold mining operations need to transform into 'mines of the future'
Gold Fields CEO Nick Holland discusses the need to move to mechanisation and adopt other technologies to improve mine productivity and safety. Video and editing: Nicholas Boyd.

Harmony’s Kusasalethu workers embark on illegal strike action

By: Natasha Odendaal     23rd March 2017 No employees reported for their day shifts at Harmony Gold’s Kusasalethu mine, near Carletonville, on Thursday, with the gold miner saying this is in retaliation for the suspension of Association of Mineworkers and Construction Union (AMCU) branch leadership who had encouraged an earlier go-slow... 

Harmony’s Kusasalethu workers embark on illegal strike action
Harmony CEO Peter Steenkamp

Canadian royalties, streaming firm Franco-Nevada reports rising revenues as it looks to diversify

By: Henry Lazenby     23rd March 2017 Canadian gold royalties and streaming firm Franco-Nevada Corp has recorded a 37.6% increase in revenue for 2016, boosted by record ounces delivered and soaring sales. The company, which derives income from 107 producing royalties and streams, achieved a 30.9% increase in gold-equivalent ounces... 

Canadian royalties, streaming firm Franco-Nevada reports rising revenues as it looks to diversify

Côte d'Ivoire govt agrees to sell 25% Ity stake to owner-operator Endeavour

By: Henry Lazenby     23rd March 2017 Côte d'Ivoire State-owned mining company Sodemi has agreed to sell its 25% stake in the Ity gold mine back to Canadian gold miner Endeavour Mining. President Alassane Ouattara approved the State miner’s sale of ownership in the mine in a Cabinet meeting on Wednesday morning. Following the... 

RNC, private equity firm Waterton Global form nickel-focused partnership

By: Henry Lazenby     22nd March 2017 Canadian miner Royal Nickel Corp (RNC) has joined forces with private equity firm Waterton Global Resource Management (WGRM) to buy, develop and operate nickel assets. The companies on Wednesday announced that they had inked a joint venture (JV) accord that will result in Waterton buying a 50%... 

RNC, private equity firm Waterton Global form nickel-focused partnership

Harmony plans to grow output to 1.5Moz, outlines acquisition criteria

By: Ilan Solomons     22nd March 2017 Dual-listed Harmony Gold is aiming to increase its yearly gold production from the current 1.1-million to 1.5-million ounces over the next three years. This would be achieved by undertaking expansions at its operations in South Africa, the rest of Africa and Papua New Guinea, while also... 

Harmony plans to grow output to 1.5Moz, outlines acquisition criteria
Golpu gold project, in Papua New Guinea

Tertiary finalises sale of Finnish gold assets

By: Anine Kilian     22nd March 2017 Aim-listed Tertiary Minerals has completed the sale of its noncore gold assets in Finland to Canadian precious metals miner Aurion Resources for £100 000 in cash and shares. The assets include Kaaresselkä and Kiekerömaa and Tertiary will retain a royalty interest in these two projects. 

Pharmanet's transformation starts

By: Esmarie Swanepoel     22nd March 2017 ASX-listed Pharmanet Group has started its evolution into Calidus Resources with the acquisition of unlisted Keras Gold Australia, in exchange for 225-million shares and 525-million performance shares. Keras Australia holds the Warrawoona gold project, in the Pilbara goldfields, which has a 410... 

Gascoyne completes capital raise

By: Esmarie Swanepoel     22nd March 2017 Gold developer Gascoyne Resources has successfully raised A$55-million to fund the development of its Western Australian gold project. The capital raise was launched in February and was completed over two tranches. 

Davyhurst crushing circuit commissioning to start shortly

By: Esmarie Swanepoel     22nd March 2017 Commissioning of the newly refurbished crushing circuit at the Davyhurst mill, in Western Australia, is poised to start next week, with the balance of the circuits expected to be commissioned in April, owner Eastern Goldfields said. The refurbishment of the 1.2-million-tonne-a-year mill is some... 

Intermin increases Teal resource

By: Esmarie Swanepoel     22nd March 2017 Gold developer Intermin Resources has reported a 120% increase in its mineral resource estimate at the Teal project, in Western Australia. The gold project’s mineral resource now stands at 2.27-million tonnes, at 2.18 g/t gold for 159 389 oz of gold, with the total mineral resource growing to... 

Silver Wheaton board recommends name change as it rakes in record precious metals revenues

By: Henry Lazenby     22nd March 2017 The pioneer of the metals streaming mine financing model Silver Wheaton has proposed a name change to Wheaton Precious Metals, to better reflect the fact that an increasing proportion of its revenue is derived from gold. The Vancouver-based company on Tuesday said that, since 2013, it had seen a... 

Silver Wheaton board recommends name change as it rakes in record precious metals revenues
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