R/€ = 14.45 Change: 0.14
R/$ = 13.45 Change: 0.17
Au 1214.98 $/oz Change: -2.97
Pt 980.50 $/oz Change: 3.50

Gold News

Northern Dynasty says it has Trump backing, seeking new partner

By: Bloomberg     Updated 1 hour ago Northern Dynasty Minerals expects to resolve a dispute with the US environmental regulator by April to enable it to move ahead with permitting one of the world’s largest undeveloped copper and gold deposits. US President Donald Trump’s administration has “a desire to permit Pebble,” the company’s... 

Exploration by proxy to feed Goldcorp’s project pipeline

By: Henry Lazenby     Updated 2 hours 12 minutes ago The reserves of the world’s top-producing gold miners have decreased by about one-third over the last five years, a situation that has to be reversed if the industry is to maintain its attractiveness to investors, Goldcorp president and CEO David Garofalo said Monday. Delivering a keynote address... 

Exploration by proxy to feed Goldcorp’s project pipeline
Photo by Bloomberg
Goldcorp president and CEO David Garofalo

Sandfire eyes growth as clears its debt ahead of schedule

By: Mariaan Webb     Updated 4 hours ago Copper and gold miner Sandfire Resources has elected to repay its debt nearly 12 months ahead of schedule, freeing up significant cash flow to pursue growth opportunities in Australia and North America. A strong cash position of A$10.7-million and rising copper prices have enabled Sandfire to... 

Sandfire eyes growth as clears its debt ahead of schedule
Sandfire CEO Karl Simich

Teck seeking infrastructure synergies with Anglo American in Chile

By: Henry Lazenby     Updated 4 hours ago Canada’s largest diversified miner Teck Resources has entered into negotiations with fellow diversified miner Anglo American about the potential of building a shared port, in Chile, where both miners are considering expansions at neighbouring copper mines. Teck is currently mulling an expansion... 

Teck seeking infrastructure synergies with Anglo American in Chile
Photo by Reuters
Teck Resources CEO Don Lindsay

PTM launches $25m bought deal financing

By: Henry Lazenby     Updated 5 hours ago South Africa-focused precious metals miner Platinum Group Metals (PTM) has reached an agreement with a syndicate of underwriters led by BMO Capital Markets to raise $25-million. The Vancouver-based company had recently advised that for it to achieve positive cash flow and to maintain its working... 

Despite performance improvement, Randgold deals with challenges at Kibali

By: Henry Lazenby     Updated 5 hours ago Despite dealing with certain critical issues in the Democratic Republic of Congo (DRC), gold producer Randgold Resources has kept capital projects at its 45%-owned Kibali mine on track, the company announced Monday. The mine has dealt with a tough first half of 2016, with the Kibali plant’s... 

‘Very tough’ mining year ahead as ‘lawfare’ breaks out – Nedbank

By: Martin Creamer     23rd January 2017 South African mining has a “very tough” year ahead, with "lawfare" breaking out. While existing large, powerful mining companies will persist, growth through new entrants and foreign investment is highly unlikely this year, resulting in escalating opportunity loss. 

‘Very tough’ mining year ahead as ‘lawfare’ breaks out – Nedbank
Nedbank mining finance principal Paul Miller

Giyani moves to delist from AltX

By: Natasha Odendaal     23rd January 2017 Dual-listed Giyani Gold is preparing to delist its secondary listing on the JSE’s AltX. The listing will be removed on February 13, with trade suspension planned for February 10. 

Endeavour expects production to rise, costs to fall in 2017

By: Megan van Wyngaardt     23rd January 2017 West-African gold miner Endeavour Mining produced a record 583 712 oz of gold in 2016, at a low all-in sustaining cost (AISC) of around $895/oz, achieving both its ambitious production guidance of 575 000 oz to 610 000 oz and its AISC guidance of $870/oz to $920/oz for the year. This was... 

Gruyere gold project gains WA environmental approval

By: Esmarie Swanepoel     23rd January 2017 Western Australian Environment Minister Albert Jacob has approved the development of the Gruyere gold project, which is a joint venture (JV) between Australia’s Gold Road and South Africa’s Gold Fields, north-east of Laverton. “Achieving environmental approval is an important milestone and... 

Gold rises to two-month high on Trump policy uncertainty, dollar drop

By: Reuters     23rd January 2017 Gold prices rose on Monday to the highest in two months as investors sought safer assets amid uncertainty around the economic policies of new US President Donald Trump and as the dollar declined against other major currencies. Spot gold rose 0.7%, to $1 217.81/oz by 03:03 GMT. It earlier touched... 

Egypt risks no interest in gold tender as Centamin won’t bid

By: Bloomberg     23rd January 2017 Egypt is at risk of getting no participation in its first exploration tender in gold since 2009 after Centamin, which operates the nation’s only active gold mine, Sukari, and two other companies in the country said they won’t bid. Terms being offered “result in an effective tax rate that is by... 

Egypt risks no interest in gold tender as Centamin won’t bid

Blackham eyes expanded operations at Matilda

By: Esmarie Swanepoel     23rd January 2017 ASX-listed Blackham Resources is considering doubling the processing capacity at its Matilda/Wiluna gold project, in Western Australia, on the back of an increase in the operation's mineral resource. The resource at Matilda/Wiluna had grown to 6.4-million ounces, with some 3.1-million ounces... 

Tarcoola trucks first ore

By: Esmarie Swanepoel     23rd January 2017 ASX-listed WPG Resources has trucked its first ore from its Tarcoola gold mine, in South Australia, to the Challenger project, for treatment. The truck haulage was initially planned for mid-December, but was delayed by nearly a month, owing to the need for additional approvals unrelated to the... 

Havilah's plans to expand Portia approved

By: Esmarie Swanepoel     23rd January 2017 Gold junior Havilah Resources has received approval from the Department of State Development to mine the southern and northern extensions of its Portia gold mine, in South Australia. The approval will allow the 120 m southern cutback to immediately proceed, and will extend the Portia mine life by... 

PEA places Mariana’s Hot Maden in world-class league

By: Henry Lazenby     21st January 2017 Aim- and TSX-quoted exploration and development company Mariana Resources this week announced the positive results of a preliminary economic assessment (PEA) for its flagship Hot Maden project in Turkey, touting a net present value, at a 10% discount, of about $1.4-billion. "The potential value... 

Golden Saint encouraged by Baja, Tongo ‘inventory’ check

By: Natasha Odendaal     20th January 2017 Aim-listed Golden Saint Resources is now considering the work that is necessary to establish an inferred resource within its Baja and Tongo exploration licence areas, in Sierra Leone, following an encouraging inventory report back from its consultants. Alluvial specialist Rock Forage undertook a... 

Sovereign Mines completes Mandiana farm-out

By: Anine Kilian     20th January 2017 Aim-listed Sovereign Mines of Africa (SMA) has completed the farm-out of its 75% interest in the Mandiana gold project, in Guinea, to TSX-V-listed Volcanic Gold Mines. In turn, it received 2.5-million common shares in Volcanic, representing 9.9% of Volcanic’s shares. 

Harmony sponsors 32 students in new academic year

By: Megan van Wyngaardt     20th January 2017 Gold mining company Harmony Gold has awarded 32 bursaries to university and technikon students for the current academic year. The bursaries cover various areas of study including noncore and core disciplines. Sixty-one per cent of those who received bursaries fall into the core category, which... 

Chatree has solid final quarter

By: Esmarie Swanepoel     20th January 2017 The now defunct Chatree gold mine, in Thailand, produced 19 377 oz of gold and poured 17 778 oz of gold during the December quarter, before mining ceased at the end of the year. ASX-listed Kingsgate said on Friday that it had sold 19 040 oz of gold during the three months.  

OceanaGold pours gold at Haile

By: Esmarie Swanepoel     20th January 2017 Dual listed gold miner OceanaGold has poured its first gold at the Haile gold mine, in South Carolina. “The first gold pour at Haile is another significant achievement for the company, the value communities of Kershaw and Lancaster, and the state of South Carolina,” OceanaGold president and CEO... 

Freeport seeks guarantees from Indonesia amid mining shake-up

By: Reuters     20th January 2017 The Indonesian unit of Freeport-McMoran is seeking fiscal and legal guarantees from the government over mining rules issued last week, a spokesman for the copper mining giant said late on Thursday. The Southeast Asian nation has been pushing miners to build smelters to process ore locally, with... 

NUM expresses disappointment over looming job cuts at AngloGold Ashanti

By: Megan van Wyngaardt     20th January 2017 The National Union of Mineworkers (NUM) on Friday confirmed that it had received a Section 189 notice from gold producer AngloGold Ashanti that it was retrenching 849 workers at its operations in South Africa. In a statement released to Mining Weekly Online on Thursday, AngloGold Ashanti... 

NUM expresses disappointment over looming job cuts at AngloGold Ashanti

Rambler reports positive test results as it transforms Ming mine

By: Henry Lazenby     20th January 2017 LSE- and TSX-V-listed maritime-focused copper and gold producer Rambler Metals and Mining has reported successful results of metallurgical testing to establish the use of dense media separation (DMS) technology as a preconcentration step before milling at its Ming mine, in Newfoundland and... 

Explosives reloading system helping Gold One to reduce mining costs

By: Dylan Slater     20th January 2017 An innovative infrastructure to use emulsion explosives for all 70 of gold miner Gold One’s underground narrow-reef stope panels at its Modder East mine has been initiated as part of the miner’s strategy to reduce its cost per ton mined.  

Explosives reloading system helping Gold One to reduce mining costs
JAMES MCARDLE Modder East’s move to emulsion explosives has increased its campaign goal for 2017 to a 0.8 m advance per panel per day, up from 0.65 m per panel per day

New laboratories opened based on demand

By: Kimberley Smuts     20th January 2017 Oil and fuel analysis expert WearCheck has shown considerable growth in Africa in 2016 establishing three new laboratories around the continent’s mining hotspots, a move largely driven by demand from mining operations looking to cut operational costs. As a result of this expansion, the company... 

Fortune appoints PwC to help secure Nico construction funding

By: Henry Lazenby     19th January 2017 TSX-listed multi-element project developer Fortune Minerals has appointed PricewaterhouseCoopers Corporate Finance (PwCCF) to help secure the C$589-million-plus working capital required to build its flagship Nico cobalt/gold/bismuth/copper project, in Canada’s Northwest Territories. “As a new... 

Canadian mining darling finds gold in projects no one wants

By: Bloomberg     19th January 2017 When Paul Andre Huet became chief executive officer of Klondex Mines in 2012, he says the Canadian gold miner had just $400 000 in cash, one asset and $7-million in invoices. “We never declared bankruptcy but on our financials we were literally done,” says Huet, who made the leap to the... 

Mine safety a casualty of too many distractions, say unions as 2016 statistics show marginal improvement

By: Natasha Odendaal     19th January 2017 South Africa’s mining stakeholders need to “go back to the drawing board” and refocus efforts on bringing down the number of fatalities in the sector, trade union Solidarity's deputy general secretary for occupational health and safety and sustainable development Advocate Paul Mardon said, as a... 

Mine safety a casualty of too many distractions, say unions as 2016 statistics show marginal improvement
Photo by Duane Daws
Mineral Resources Minister Mosebezi Zwane

Hummingbird on track for Yanfolila’s first gold pour by year-end

By: Megan van Wyngaardt     19th January 2017 Aim-listed Hummingbird Resources has awarded the structural, mechanical, plate work and piping (SMPP) contract for its Yanfolila gold project, in Mali, where mine construction is currently under way, to construction company Imagri-SARL. The company on Thursday noted that plant construction was on... 

Shanta Gold achieves record production, costs at New Luika

By: Megan van Wyngaardt     19th January 2017 East Africa-focused gold producer Shanta Gold on Thursday reported that it had beaten full year guidance on both cost and volume at its New Luika gold mine (NLGM), in southwest Tanzania. This follows record gold production of 87 713 oz for the year ended December 31, at an all-in sustaining cost... 

Acacia celebrates another productive year at its Tanzania operations

By: Megan van Wyngaardt     19th January 2017 Marking its fourth consecutive year of production growth, Aim-listed gold miner Acacia reported strong fourth-quarter production of 212 954 oz for the three months ended December 31. Production for the quarter was 6% higher than that of the fourth quarter of 2015 and 4% higher than third-quarter... 

Trump makes Canadian mine explorer with zero revenue great again

By: Bloomberg     19th January 2017 There’s one thing Donald Trump is already making great again: a small Canadian explorer with rights to one of the world’s largest undeveloped copper and gold deposits. Northern Dynasty Minerals has more than tripled since the US election to approach a four-year high this week amid speculation... 

West African gets permit in Burkina Faso

By: Esmarie Swanepoel     19th January 2017 The government of Burkina Faso has awarded junior gold developer West African Resources a mining permit for its Sanbrado gold project, formerly know as the Tanlouka project. MD Richard Hyde said on Thursday that with the award of the mining permit, the company would now focus on completing the... 

Drilling confirms new find at Resolute's Syama in Mali

By: Esmarie Swanepoel     19th January 2017 Further drilling at the Syama gold mine, in Mali, has confirmed a "major" new gold discovery, owner Resolute Mining reported on Thursday. Additional high-grade intercepts were confirmed from diamond drilling of the Nafolo prospect, with Resolute reporting that the current drilling programme had... 

Environmental permit delay forces Red 5 to revise Siana strategy

By: Esmarie Swanepoel     19th January 2017 ASX-listed Red 5 will be forced to implement a revised operational strategy and openpit mine plan for its Siana gold mine, in the Philippines, after delays in obtaining regulatory approvals for amendments to its environmental compliance certificate (ECC). The approved ECC is required for the... 

Sibanye’s Stillwater platinum deal edges forward

By: Martin Creamer     19th January 2017 Precious metals mining company Sibanye’s proposed acquisition, Stillwater Mining of the United States of America, edged forward on Thursday with the notification that both companies had received early termination of the waiting period under the US’s Hart-Scott-Rodino legislation, which means that... 

Sibanye’s Stillwater platinum deal edges forward
Photo by Duane Daws
Sibanye CEO Neal Froneman

Moody’s base metals optimism rises despite seeing price fall back this year

By: Henry Lazenby     19th January 2017 Market analyst and ratings agency Moody’s Investors Service has adjusted upwards its pricing sensitivities for base metals in 2017, but says despite the recent run-up in base metal prices not being sustainable, some of the positive sentiment will remain. Moody’s said Wednesday it expected the... 

Moody’s base metals optimism rises despite seeing price fall back this year
Photo by Bloomberg
Zinc prices are expected to find support in strong fundamentals
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