R/€ = 16.27 Change: 0.01
R/$ = 14.39 Change: 0.01
Au 1238.58 $/oz Change: 0.51
Pt 783.50 $/oz Change: -9.03

Gold News

Bulls lining up for gold means now may be a good time for silver

By: Bloomberg     Updated 4 hours ago The recent bounce in gold has so far happened without a similar move in silver. That might be about to change, according to Saxo Bank A/S. Ole Hansen, head of commodity strategy at Saxo Bank, tracks the ratio of gold to silver and said the recent moves point in favor of higher silver prices. 

Chaarat returns to Aim

By: Mariaan Webb     14th December 2018 Chaarat Gold’s share price fell sharply following its readmission to London’s Aim market on Friday, after an eight-month suspension under the exchange’s reverse takeover rules. The company’s ordinary shares resumed trading at 11:30 London time, and fell 16% to 20.25p a share just before midday. 

AMCU union to remain on strike at Sibanye-Stillwater

By: Reuters     14th December 2018 The president of South Africa's Association of Mineworkers and Construction Union (AMCU) said on Friday that the union's Sibanye-Stillwater members remain on strike, disputing the miner's argument the action is now illegal. Joseph Mathunjwa was speaking at a media conference organised to respond... 

Nigeria's first gold refinery scheduled to be ready next year

By: Bloomberg     14th December 2018 Nigeria’s first gold refinery, located in the southwestern state of Ogun, is scheduled to be completed by the end of June, according to Kian Smith Trade & Co, the local company developing it. The refinery will initially be able to produce 3 metric tons of gold each month, and 1 t of silver, Kian... 

West African completes A$43m share placement

By: Esmarie Iannucci     14th December 2018 ASX-listed West African Resources has completed a A$43.2-million share placement, issuing some 172.7-million shares, at a price of 25c each. The share placement formed part of the company’s funding package to support the start of gold production at its Sanbrado project, in Burkina Faso. 

Paulson wins control of Detour board in key shareholder vote

By: Bloomberg     14th December 2018 Paulson & Co has convinced shareholders of Detour Gold to overthrow the bulk of the Canadian miner’s board of directors, including its interim CEO, ending a nasty six-month proxy battle. Five of the Paulson-backed nominees were chosen, while Detour chairman Alex Morrison and interim CEO Michael... 

Paulson wins control of Detour board in key shareholder vote
John Paulson's Paulson & Co has taken control of the Detour Gold board.

Explaurum updates Tampia economics, holds off on Ramelius decision

By: Esmarie Iannucci     14th December 2018 Takeover target Explaurum has released the results of an updated feasibility study for its Tampia gold project, which has increased the project’s estimated net present value from A$125-million to A$156-million, while the internal rate of return has increased from 47% to 70%. Explaurum said on... 

Two people presumed dead in Mulatos accident – Alamos

By: Creamer Media Reporter      14th December 2018 Canada-based Alamos Gold late on Thursday reported a serious accident at its Mulatos mine, in Mexico, which has likely cost the lives of two of its workers. The accident involved an unexpected pit slope movement in the El Salto area of the openpit, where pre-stripping activities were being... 

Resolute starts production from Syama underground

By: Esmarie Iannucci     14th December 2018 Gold miner Resolute Mining has started ore production from the new Syama underground mine, in Mali. MD and CEO John Welborne said on Friday that the successful development of the Syama underground mine represented a pivotal moment in the history of the company. 

High Court sets out process to action against silicosis, TB settlement agreement  

By: Marleny Arnoldi     13th December 2018 The Johannesburg High Court on Thursday issued a court order setting out the processes in terms of which members of the settling classes and any interested parties should be invited to show cause why the silicosis and tuberculosis class action settlement agreement should not be made an order of... 

Gold supply to increase 2.2% for 2018 – Refinitiv

By: Marleny Arnoldi     13th December 2018 Total gold supply is set to increase by 2.2% year-on-year this year, led by mine production, says the GFMS team at Refinitiv. Refinitiv predicts this year will finish as another year of net de-hedging, albeit at a forecast 29 t, which will be 29% lower than in 2017.  

AMCU accuses Sibanye of using 'underhand tactics' to end strike

By: African News Agency      13th December 2018 The Association of Mineworkers and Construction Union (AMCU) has retaliated against Sibanye-Stillwater, saying that the miner had resorted to further "underhanded tactics" in an effort to discredit the legal and protected status of its strike in the gold sector.  This is after Sibanye said on... 

Hummingbird anticipates up to 16 g/t gold grade potential at Mali project

By: Marleny Arnoldi     13th December 2018 Aim-listed Hummingbird Resources has announced the second set of drill results from the 2018 exploration campaign at its Yanfolila gold mine, in Mali, which further confirms high-grade gold mineralisation potential. The focus of the drill programme is to convert resources to reserves and extend... 

Sibanye extends union wage agreements to all employees, ends AMCU strike 

By: Marleny Arnoldi     13th December 2018 JSE-listed Sibanye-Stillwater has extended the wage agreement entered into with some unions to all employees, effectively rendering the three-week-long strike by Association of Mineworkers and Construction Union (AMCU) members unprotected. During the course of the strike, which was called by... 

Sibanye extends union wage agreements to all employees, ends AMCU strike

Iamgold tables maiden resource for Gossey deposit

By: Tasneem Bulbulia     13th December 2018 Canada-based gold major Iamgold has announced an initial mineral resource estimate for the Gossey satellite deposit, located about 15 km north-west of its Essakane operation in Burkina Faso. The resource estimate comprises 10.5-million tonnes of indicated resources averaging 0.87 g/t of gold for... 

Gold Fields to restart South Deep production as workers return

By: Reuters     13th December 2018 Workers will return to Gold Fields' sole South African mine on Thursday after a six-week strike was called off by the country's National Union of Mineworkers (NUM), with production likely to resume in earnest next year. Workers from the largest union operating at the South Deep mine downed tools... 

ATAC shares fall as Barrick terminates Yukon earn-in

By: Creamer Media Reporter      13th December 2018 Nearly two years since Barrick Gold partnered with junior ATAC Resources to advance the part of the Racklan gold property in the Yukon Territory of north-west Canada, the gold major has terminated its option to acquire an interest in the Orion project. ATAC president and CEO Graham Downs thanked... 

Ramelius sweetens Explauraum deal

By: Esmarie Iannucci     13th December 2018 Gold miner Ramelius Resources has increased its offer for fellow-listed Explaurum, by 2c a share in cash. Ramelius is now offering Explaurum shareholders one of its own shares for every four Explaurum shares held, as well as 2c a share in cash for every Explaurum share held. 

Capricorn secures funding for Karlawinda development

By: Esmarie Iannucci     13th December 2018 Metals developer Capricorn Metals has secured a A$107-million funding package to develop its Karlawinda gold project, in Western Australia. The project finance facility, secured from Macquarie Bank, include a senior project finance facility of A$81-million, a bank guarantee facility of... 

Matsa acquires more ground around Red October

By: Esmarie Iannucci     13th December 2018 ASX-listed Matsa Resources has struck a deal with fellow listed GME Resources to acquire the Devon gold mine, in Western Australia, for A$100 000. Under the terms of the agreement, Matsa will pay GME A$50 000 in cash, with the balance of the payment to be made in either cash or Matsa shares. 

Pure Alumina extends gold sale process

By: Esmarie Iannucci     13th December 2018 Junior Pure Alumina has extended the sales process for its Hill End gold assets, which were put up for sale earlier this year, to allow bidders to secure funding. The company in June this year announced its decision to test the market for its gold assets, choosing to focus its attention on its... 

Barrick Gold is said to move closer to resolving Acacia dispute

By: Bloomberg     13th December 2018 Barrick Gold Corp has reached an agreement with the Tanzanian government on a $300-million payment, a milestone toward resolving a dispute that has crippled the miner’s subsidiary in the African country, according to people familiar with the situation. Executives from the Toronto-based producer... 

Barrick Gold is said to move closer to resolving Acacia dispute

Gold production resumes at Randgold's Loulo mine in Mali

By: Reuters     12th December 2018 Production at Randgold's Loulo gold mine in Mali resumed on Wednesday after a week-long outage over a pay dispute, the head of the union said, warning of possible further industrial action. The head of the industry and mines union SECNAMI, Bani Sacko, told Reuters workers had returned to work... 

Ariana to start drilling Kizilcukur

By: Creamer Media Reporter      12th December 2018 Turkey-focused Ariana Resources will start a 1 000 m diamond drilling programme at its Kizilcukur gold project, which is being developed with a view to truck and process its ore at the nearby Kiziltepe mine. The objective of the diamond drilling is to define a high-grade zone amenable to openpit... 

Almaden expects 203 000 oz/y from Mexico precious metals project

By: Creamer Media Reporter      12th December 2018 The Ixtaca precious metals deposit, Mexico, has the potential to produce 203 000 oz/y of gold-equivalent in the first six years of operation, a feasibility study has confirmed. The production is comprised of 108 500 oz/y of gold and 7.06-million ounces a year of silver, said project owner... 

Enable meaningful participation, pleads Women in Mining chair  

By: Martin Creamer     12th December 2018 The Mining Charter has significant room for improvement to enable meaningful participation of women in mining, says Women in Mining South Africa (WiMSA) chairperson Lindiwe Nakedi. Soweto-born Nakedi, who owns Gubhani Exploration – a surface exploration drilling company that is currently the only... 

Enable meaningful participation, pleads Women in Mining chair
Women in Mining chairperson and Gubhani Exploration MD Lindiwe Nakedi talks to Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Photographs: Creamer Media Chief Photographer Dylan Slater.

Ontario’s Harte to declare commercial production by year-end

By: Creamer Media Reporter      12th December 2018 The Harte gold mine – Ontario’s first new gold mine in a decade – is on track to achieve commercial production by the end of the year. Toronto- and Frankfurt-listed Harte Gold said on Tuesday that the Sugar Zone mill complex was achieving consistent throughput of 575 t/d. More than 24 000 t of... 

Kirkland Lake's 1Moz/y target now in sight

By: Mariaan Webb     12th December 2018 Australia- and Canada-focused gold miner Kirkland Lake is set to hit the one-million-ounce mark by 2021, the company said this week, announcing its three-year production guidance. The miner is targeting consolidated production growth of 10% to 15% a year over the next three years, with... 

Kirkland Lake's 1Moz/y target now in sight
The Fosterville mine, in Australia.

Titan readies for Vista commissioning

By: Esmarie Iannucci     12th December 2018 ASX-listed Titan Minerals has completed the construction of its plant and mill at its Vista gold project, in Southern Peru, on schedule and budget. The company is currently receiving ore at the plant to establish stockpiles for initial testing and dry commissioning of the plant over the coming... 

Indonesian investor secured for Awak Mas

By: Esmarie Iannucci     12th December 2018 The Awak Mas gold project, in Indonesia, is one step closer to development after owner Nusantara Resources secured a local cornerstone investor. ASX-listed Nusantara told shareholders that on completion of a A$10.25-million capital raising, integrated energy and resources company PT Indika... 

Indonesian investor secured for Awak Mas

Crater eyes A$23m raising

By: Esmarie Iannucci     12th December 2018 ASX-listed junior Crater Gold Mining was hoping tor raise some A$23-million through an 11-for-2 renounceable rights issue, priced at 1.5c a share. Crater on Wednesday said that the issue price of 1.5c a share represented a discount of some 25% to the last closing price on December 11, and a... 

Sibanye condemns violent protest at its South African gold mines 

By: Simone Liedtke     11th December 2018 Dual-listed Sibanye-Stillwater on Tuesday said the situation at its Beatrix gold operations, in the Free State, were tense amid continuing violent actions by groups allegedly affiliated to the Association of Mineworkers and Construction Union (AMCU). “In the early hours of December 11, various... 

Newcrest moves on two Chile gold projects

By: Mariaan Webb     11th December 2018 Australia-based gold major Newcrest Mining has expressed an interest in farming into the Gorbea projects, in Chile, which fellow major Yamana Gold previously explored in a joint venture with Mirasol Mining. Newcrest, which is already participating in other JVs with Mirasol, has signed a heads of... 

Alacer gains nearly 300 000 oz from Ardich

By: Esmarie Iannucci     11th December 2018 Gold miner Alacer Gold has reported a maiden mineral resource of 294 000 oz of gold at an average grade of 1.32 g/t gold for its Ardich oxide gold deposit, some 6km from its Çöpler gold mine. The project also hosts an inferred mineral resource of 85 000 oz, at an average grade of 1.2 g/t gold. 

Qld extends backing for Ravenswood expansion

By: Esmarie Iannucci     11th December 2018 The Queensland government has extended the Prescribed Project status of ASX-listed Resolute Mining’s Ravenswood expansion project until the end of November 2020. The Prescribed Project declaration is designed to facilitate the approvals process for projects deemed to be of particular economic... 

Aussie gold juniors announce merger

By: Esmarie Iannucci     11th December 2018 ASX-listed juniors Intermin Resources and MacPhersons Resources have struck a merger agreement to create a gold company holding some 1.15-million ounces of gold. Under the terms of a scheme of arrangement, one Intermin share will be issued for every 1.8227 MacPhersons shares held, valuing the... 

Lydian turns to court to lift environmental order

By: Creamer Media Reporter      11th December 2018 The Administrative Court of Armenia has accepted Lydian International’s lawsuit appealing a directive by the head of the Environmental and Mining Inspection Body, which ordered a stop to mining-related activities at the Amulsar project, owing to sightings of newly-found red-listed plants and... 

Lydian turns to court to lift environmental order
The Amulsar site, in Armenia.

Yet another invasion at Aura's Honduras mine

By: Mariaan Webb     11th December 2018 Midtier gold and copper miner Aura Minerals has suspended mining operations at its San Andres mine, in Honduras, following another illegal invasion by a number of individuals. The illegal occupation follows a similar event earlier this year, which in July led to the company laying off 44... 

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