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Pt 960.00 $/oz Change: 0.00

Gold News

IDM completes Red Mountain acquisition from Seabridge Gold

By: Henry Lazenby     27th May 2017 Exploration and development company IDM Mining has completed the acquisition of the high-grade Red Mountain project, in British Columbia, from Seabridge Gold. TSX-V-listed IDM acquired the 100% interest, subject to certain underlying agreements and royalties, under an April 2014 option agreement. 

Northern Vertex, Greenstone partner to accelerate Moss mine development; US gold consolidation

By: Henry Lazenby     26th May 2017 Canadian project developer Northern Vertex Mining and Guernsey-based private equity fund Greenstone Resources has formed a partnership that will strengthen Northern Vertex’s balance sheet and expedite construction, procurement and staffing initiatives as the company works up to decalring... 

Low platinum price boosting platinum jewellery demand

By: Martin Creamer     26th May 2017 The low platinum price incentivised manufacturers and retailers to stock and sell platinum, leading to an overall growth of 5.4% in the US last year, Platinum Guild International said on Friday, with lower-based retail sales in India soaring 11.4%. In its Platinum Jewellery Business Review, the... 

Low platinum price boosting platinum jewellery demand
Platinum jewellery sales up in US, India, Japan.

Russian State fund could invest in miner Polyus with China's Fosun – source

By: Reuters     26th May 2017 The State-backed Russian Direct Investment Fund (RDIF) and China's Fosun International could announce an investment in Russia's top gold producer Polyus in early June, a source familiar with the talks told Reuters. A consortium led by Fosun, one of China's most acquisitive conglomerates, has... 

Acacia says committee’s findings on its Tanzanian gold exports inaccurate

By: Megan van Wyngaardt     26th May 2017 Tanzania-focused Acacia Mining on Friday said it could not agree with the findings of a report, compiled by a Presidential Committee tasked with investigating the export of gold and copper concentrates. President John Magufuli on Wednesday released the findings of the report and announced that... 

BMI lowers DRC gold production outlook

By: Megan van Wyngaardt     26th May 2017 Lower-than-expected output from the Democratic Republic of Congo’s (DRC's) gold industry during 2016, paired with a weak project pipeline in the coming years, has resulted in research firm BMI revising its gold production forecast for the country up to 2021, downwards. The research firm put the... 

Avanco on its way to midtier status

By: Esmarie Swanepoel     26th May 2017 A prefeasibility study (PFS) has proven that the Pedra Branca East copper/gold project, in Brazil, could realise project owner Avanco Resources’ ambition of becoming a midtier copper producer. The PFS estimates that the Pedra Branca East project could deliver some 24 000 t/y of copper and 16 000... 

SA Mint should review Mandela coin plans after Royal Mint blazes new platinum coin trail

By: Martin Creamer     26th May 2017 The decision of the Royal Mint, in the UK, to launch its first-ever platinum bullion products has rekindled hopes that the South African Mint will wipe the dust off its plans for a Mandela coin in platinum and mimic some of its gold coin success. In what is potentially a beneficial measure to... 

SA Mint should review Mandela coin plans after Royal Mint blazes new platinum coin trail
Photo by Darlene Creamer
This week's Mining Weekly cartoon on prospect of launching a platinum Mandela coin.

Up to 6% of Barrick’s 2017 output impacted by Tanzania ore export ban

By: Henry Lazenby     26th May 2017 The world’s largest gold producer by volume, Canada’s Barrick Gold, on Thursday revealed that up to 6% of its attributable output could be affected by the ongoing ban on mineral concentrate exports affecting the operations of its 63.9% subsidiary Acacia Mining, in Tanzania. Acacia’s Bulyanhulu... 

Bolívar mine, Mexico

By: Thabi Madiba     26th May 2017 A copper/silver/zinc/gold mine located in Urique, in Mexico. 

Bolívar mine, Mexico

Despite glorious past, mineral processing innovation faces uncertain future

By: Mia Breytenbach     26th May 2017 While the mining industry does not yet seem to be in a crisis regarding innovation in minerals processing, it certainly seems to be on a downward trajectory, says former Julius Kruttschnitt Mineral Research Centre (JKMRC) director and emeritus professor Tim Napier-Munn, noting that, with... 

Despite glorious past, mineral processing innovation faces uncertain future

Drilling at Cote d’Ivoire gold project showing promising results

By: David Oliveira     26th May 2017 West Africa-focused gold producer Perseus Mining announced earlier this month the completion of a drilling programme at its Yaouré gold project, in Côte d’Ivoire, with the company having received assay results for about 29 300 samples from the programme, which confirm the tenor of mineralisation... 

Gold miner to expand exploration activities in Burkina Faso

By: Mia Breytenbach     26th May 2017 TSX-listed gold miner Roxgold expects its exploration activities to increase this year to support the company’s organic growth strategy, with an approved exploration budget of $8-million. Roxgold noted in a statement that a further round of drilling, totalling about 11 000 m, would be undertaken... 

Gold miner to expand exploration activities in Burkina Faso
Photo by Bloomberg
MINERAL INTERCEPT Drilling at the Bagassi South deposit, located near Roxgold’s flagship underground gold mine at the 55 zone, returned a large number of high-grade intercepts

New company aims to be ‘unrivalled’ service provider

     26th May 2017 With a focus on safety and supporting its customers, the process of integrating diversified industrial-use products and services provider Komatsu and high-productivity mining solutions provider Joy Global has begun, following the conclusion of a $3.7-billion deal in April. On May 8, executive... 

New company aims to be ‘unrivalled’ service provider
RETAINING FOCUS Newly renamed Komatsu Mining will continue to promote and invest in the Joy Global P&H, Joy and Montabert brands

Sector requires repositioning to realise future success

By: Tasneem Bulbulia     26th May 2017 While outsourced mining services specific to the resources sector are adequate for now, the depressed commodity cycle in South Africa has masked the need for outsourcing to robustly position itself for the future, says Independent process industry consultant, business analyst and chemical... 

Sector requires repositioning to realise future success
SANTOSH GUNPATH Global, rather than local macroeconomics will be the driver for the outsourced mining services sector

Training academy deriving ‘incredible’ value from simulators

     26th May 2017 Simulation has resulted in a definite, dramatic reduction in training cycle times, says Bedfordview-headquartered mining contractor Murray & Roberts’ Murray and Roberts Training Academy (MRTA) education and training development (ETD) executive Tony Pretorius. With five, high-fidelity Cybermine... 

Training academy deriving ‘incredible’ value from simulators
SIMULATED LEARNING The Murray and Roberts Training Academy provides training for an exceptionally diverse client base, including gold producer AngloGold Ashanti

OceanaGold enters option accord for Mirasol's La Curva project, Argentina

By: Henry Lazenby     25th May 2017 Midtier miner OceanaGold has signed an option agreement with prospect generator Mirasol Resources, under which it to acquire up to 75% of the project in five stages. The definitive agreement requires multinational OceanaGold, with operations in New Zealand, Australia and the US, to make a... 

LBMA launches code of conduct for precious metals markets

By: Reuters     25th May 2017 The London Bullion Market Association (LBMA) is launching a code of conduct aimed at boosting confidence in the $5-trillion a year London gold market, it said on Thursday, following years of heightened regulatory scrutiny of the city's financial sector. The guidelines set out best practice in... 

LBMA launches code of conduct for precious metals markets

Ramelius unveils plans for next four years

By: Esmarie Swanepoel     25th May 2017 Gold miner Ramelius Resources has revealed a new life-of-mine (LoM) plan for its combined Mt Magnet and Vivien operations, in Western Australia, which will see the recovery of about 545 000 oz over four years, staring in 2018. The miner this week said that the updated production profile showed... 

Exterra's Second Fortune to produce 73 000 oz

By: Esmarie Swanepoel     25th May 2017 A feasibility study on the Second Fortune gold mine, in Western Australia, has found that the project could deliver some 73 000 oz over an initial two-year mine life. ASX-listed Exterra Resources on Thursday said that the study considered the development of a mine below the existing openpit... 

Kanmantoo offering Hillgrove more upside

By: Esmarie Swanepoel     25th May 2017 Copper/gold miner Hillgrove Resources has earmarked a number of organic growth opportunities which it will assess later in 2017, including an opportunity for near-mine growth at its Kanmantoo mine, in South Australia. An exploration target of between five-million and ten-million tonnes, with a... 

Canada Strategic Metals gains Quebec district-scale greenstone belt land package

By: Henry Lazenby     25th May 2017 Junior explorer Canada Strategic Metals has acquired three new high-potential properties named Annabelle, Blanche and Charles, covering large greenstone belt districts on the Eastmain and La Grande volcanic belts, in the James Bay area of Quebec. The ground acquired covers more than 75 km2 of the... 

Sibanye appoints Maziya as nonexecutive director

By: Henry Lazenby     24th May 2017 JSE- and NYSE-listed Sibanye Gold has appointed Savannah Maziya as a nonexecutive director following the resignation of Christopher Chadwick with effect from Tuesday. The South African multinational miner selected Maziya for her wealth of experience in the finance, mining, infrastructure and... 

NGO sues Guatemala mining Ministry for issuing Escobal licence

By: Henry Lazenby     24th May 2017 TSX- and NYSE-listed Tahoe Resources reported Wednesday that a Guatemala-based nongovernmental organisation (NGO) has filed a claim against the Guatemalan Ministry of Energy and Mines (MEM), alleging that the Ministry failed to consult with a local indigenous group before granting the mining... 

NGO sues Guatemala mining Ministry for issuing Escobal licence
Photo by Tahoe Resources
Escobal, Guatemala

Westhaven adds 2 738 ha land package to substantial BC landholdings

By: Henry Lazenby     24th May 2017 TSX-V-listed project developer Strongbow Exploration has agreed to sell its 65.74% interest in the Skoonka Creek gold property, located within the prospective Spences Bridge gold belt (SBGB), in British Columbia, to Westhaven Ventures. Strongbow's joint-venture partner on the Skoonka Creek... 

Galane Gold looks to buy Vantage’s South African assets

By: Megan van Wyngaardt     24th May 2017 TSX-V-listed Galane Gold has entered into a letter of intent (LoI) with South African-focused Vantage Goldfields to acquire all of its outstanding shares. Vantage is an Australian company with mining assets in South Africa’s Barberton Greenstone Belt. 

Caledonia pursues listing on NYSE

By: Megan van Wyngaardt     24th May 2017 Caledonia Mining, which is listed on the Aim market of the LSE, as well as the OTCQX and TSX, on Wednesday said it was now seeking a fourth listing on the NYSE MKT. The gold miner, which owns 49% of the Blanket mine, in Zimbabwe, believes the listing will increase trading liquidity, while... 

Acacia’s shares fall as Tanzania committee says it under-declared concentrate exports

By: Creamer Media Reporter      24th May 2017 Acacia Mining’s share price on the LSE fell by more than 20% on Wednesday after it reported that a Tanzanian Presidential Committee that was set up to investigate if mining companies are paying their fair share of taxes, had found that the gold miner had not fully declared all minerals contained... 

Tanzanian President fires mining minister and chief of State-run agency

By: Reuters     24th May 2017 Tanzania's president fired the mining minister and the chief of the State-run mineral audit agency on Wednesday, after receiving a report into whether mining companies were under-declaring the value of their exports. President John Magufuli's decision, announced in a speech, signals an escalation... 

Coventry and Vista consolidate Alaska projects under new name

By: Esmarie Swanepoel     24th May 2017 ASX-listed Coventry Resources has announced plans to acquire Vista Minerals, with the combined entity to be renamed Polaris Minerals. Vista Minerals holds the Stellar copper/gold project, in Alaska, which is contiguous with Coventry’s own Caribou Dome project, with the company saying on... 

Coventry and Vista consolidate Alaska projects under new name

NT govt extends Mt Todd agreement

By: Esmarie Swanepoel     24th May 2017 The Northern Territory government has extended its agreement with junior Vista Gold for the management of the Mt Todd gold mine. The mine, which ceased operations in 2000, is estimated to contain some 7.4-million ounces of gold. 

Endeavour reports solid progress with Houndé construction 85% complete

By: Henry Lazenby     23rd May 2017 West Africa-focused miner Endeavour Gold has reached the 85%-complete mark in building the Houndé mine, in Burkina Faso, after receiving and starting installation of the longest lead time item, the semi-autogenous grinding mill. Endeavour, which expects to produce between 600 000 oz and 640 000... 

Asanko prioritises Akwasiso ahead of Dynamite Hill following fast Ghanaian approval

By: Henry Lazenby     23rd May 2017 The Ghanaian government has given the green light for TSX- and NYSE MKT-listed miner Asanko Gold to start mining operations at the Akwasiso deposit, in Ghana, ahead of the Dynamite Hill deposit, as previously planned. The Vancouver-based company will benefit from greater mining flexibility by... 

Gold miners slowly shift focus to growth

By: Natasha Odendaal     23rd May 2017 Gold miners are gradually shifting their focus to growth and renewed investments after years of financial austerity measures and the prioritisation of cost competitiveness and core assets. While firms will remain committed to lowering costs to improve their competitiveness and reducing debt to... 

Katoro Gold starts trading on Aim

By: Megan van Wyngaardt     23rd May 2017 Katoro Gold, previously Opera Investments, through its reverse takeover of Kibo Gold’s Imweru and Lubando gold projects, has been relisted on the LSE. The Tanzania-focused gold exploration company said the admission of its ordinary shares to trading on the Aim-market started at 08:00 on Tuesday,... 

Georgian Mining raises $7m for copper/gold exploration

By: Mariaan Webb     23rd May 2017 Aim-listed copper and gold developer Georgian Mining has raised $7-million in an oversubscribed placing to expand the resource at its Kvemo Bonisi (KB) project in Georgia. The project, located on the Tethyan belt, which is host to multiple high grade copper/gold deposits and producing mines in... 

Georgian Mining raises $7m for copper/gold exploration

Hummingbird reaches new Yanfolila milestone

By: Natasha Odendaal     22nd May 2017 Aim-listed Hummingbird Resources on Monday announced the delivery of its longest lead time item – the ball mill – to the under-construction Yanfolila gold project, in Mali. "As the longest lead time item, the delivery of the ball mill (shipped from Europe) to site is a significant milestone for... 

Russia-focused Highland to explore two greenfield sites for gold

By: Creamer Media Reporter      22nd May 2017 Aim-listed Highland Gold has set aside $1-million for preliminary prospecting work at two greenfield sites adjacent to the existing licence areas for the Mnogovershinnoye mine (MNV), in Russia’s Far Eastern district. Potential mineralisation was previously identified in both of the licence areas,... 

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