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Gold News

MacLean Engineering to supply battery powered fleet for Goldcorp’s diesel-free Borden mine

By: Creamer Media Reporter      23rd September 2016 Goldcorp is looking to build what is expected to be the world;s first diesel-free hard rock gold mine at its Borden project, near Chapleau, Ontario. The company has chosen Collingwood, Ontario-based MacLean Engineering to provide a fleet of battery powered mobile underground mining equipment to... 

Barberton tailings plant shoots lights out with cheap, upped gold 

By: Martin Creamer     23rd September 2016 In the 12 months to June 30, gold was produced by the Barberton Tailings Retreatment Plant (BTRP) of Pan African Resources at the exceptionally low all-in cost of $332/oz. While Barberton Mines as a whole had a good financial year underground and on surface, it was the on-surface BTRP that shot... 

Barberton tailings plant shoots lights out with cheap, upped gold
Blurb: Pan African CEO Cobus Loots talks to Mining Weekly Online’s Martin Creamer on Barberton gold. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer.

Kibo to fast-track gold assets with heads of agreement with Opera

By: Natasha Odendaal     23rd September 2016 Aim- and AltX-listed Kibo Mining has consolidated its Imweru and Lubando gold projects, in Northern Tanzania, into a newly renamed company Katoro Gold Mining. This followed the signing of a heads of agreement with London-listed Opera Investment for the unloading of Kibo’s wholly-owned UK... 

Cash costs plunge below $700/oz at AngloGold’s Mponeng mine

By: David Oliveira     23rd September 2016 South African gold mining major Anglo-Gold Ashanti reported in its six- months through June 30 earnings report, released in mid-August, that its South African flagship operation, Mponeng gold mine, near Carletonville, was one of the lowest-cost producers in South Africa during the first half of... 

Cash costs plunge below $700/oz at AngloGold’s Mponeng mine

Cerro Vanguardia mine

By: Sheila Barradas     23rd September 2016 A gold mine in Santa Cruz province, southern Patagonia, Argentina. 

Cerro  Vanguardia mine

Earnings from govt contracts only a tiny fraction of total revenue – Oakbay

By: Ilan Solomons     23rd September 2016 In an attempt to highlight that its revenue is largely driven by private-sector deals – with government contracts accounting for only 8.9% of revenue generation – controversial investment holding company Oakbay Investments has released its first annual results for the year ended February 29. The... 

Earnings from govt contracts only a tiny fraction of total  revenue – Oakbay
Photo by Duane Daws
BRAKFONTEIN COAL MINE Brakfontein supplied 1.49-million tons of coal to Eskom in Oakbay’s 2015/16 financial year

Haulage solution being modernised at Phakisa shaft

By: Robyn Wilkinson     23rd September 2016 Mining and industrial equipment supplier Deebar is upgrading the Deebar Rail-Veyor remote-controlled, electrically powered light-rail haulage solution which it installed in 2005 at gold miner Harmony’s Phakisa gold mine, in Welkom. 

Haulage solution being modernised at Phakisa shaft
STEAMING AHEAD The Rail-Veyor has not been hampered by the downturn in commodities prices, as the system offers significant benefits in terms of helping mines reduce their operating costs

Investor confidence ‘concerning’, key to industry growth

By: Aarifah Nosarka     23rd September 2016 The South African mining sector needs policies that recognise the type of investment that mining demands and which reduce the risks related to investing in long-term projects to encourage investment in the sector, says Chamber of Mines (CoM) CEO Roger Baxter. He tells Mining Weekly that the... 

Investor confidence ‘concerning’, key to  industry growth
RESILIENT INDUSTRY The mining industry is the foundation on which South Africa’s industrial development was built and continues to contribute significantly to the country’s economy

Metanor to move quickly with Barry start-up on positive PEA

By: Henry Lazenby     22nd September 2016 Project developer Metanor Resources will move quickly with the start-up of operations at its Barry project, in Quebec, after publishing positive results of a preliminary economic assessment on Thursday. Prepared by GoldMinds Geoservices, the C$8.5-million start-up cost for the project paled in... 

Ugandan firm to open gold refinery by end of 2016

By: Reuters     22nd September 2016 A Ugandan company backed by a Belgian investor is due to open the East African country's first gold refinery by the end of this year to process raw gold produced mainly from the region, a senior company official told Reuters. Uganda's mineral reserves are generally viewed as under exploited.... 

End-to-end mechanisation edging South Deep forward – Gold Fields

By: Martin Creamer     22nd September 2016 South Deep, Gold Fields’ fully mechanised deep-level gold mine, has reached the point of honouring its full mining value chain with on-the-go ground support, simultaneous backfilling of the voids created, an extension of mechanising to hanging wall and side wall drilling, and mesh support... 

End-to-end mechanisation edging South Deep forward – Gold Fields
Photo by Duane Daws
Gold Fields CEO Nick Holland

Top Colombia gold miner faces production halt amid protests

By: Bloomberg     22nd September 2016 Gran Colombia Gold Corp. will have to halt production by Friday if protests at its operations don’t end by then, a further headache for the Colombian government as it struggles to enforce regulations governing the country’s gold industry. Miners operating without permits inside Gran Colombia... 

Ulysses on track to start next week

By: Esmarie Swanepoel     22nd September 2016 Mining at the Ulysses gold project, in Western Australia, is on track to start next week, owner Genesis Minerals has reported. Shareholders on Thursday approved a A$2.5-million share placement to mining contractor SMS Innovative Mining, allowing for openpit mining to start. 

Pantoro poised for openpit mining

By: Esmarie Swanepoel     22nd September 2016 ASX-listed Pantoro is poised to start openpit mining at its Rowdies and Wagtail projects, in Western Australia, after receiving all the necessary approvals. The miner said on Thursday that the openpit mining contractor had mobilised to site, and preparatory work had started. 

Rambler ramps up output, meets or exceeds most 2016 targets

By: Henry Lazenby     22nd September 2016 Rambler Metals and Mining has met or exceeded most of its production targets for the 2016 fiscal year ended July 31 at its flagship Ming mine, in Newfoundland and Labrador. While copper concentrate grades at 26.9% fell just short of the lower end of its targeted 27% to 29% guidance, gold and... 

Big gold miners see muted M&A as bullion's rise limits bargains

By: Reuters     21st September 2016 The world's biggest gold miners will stay shy of big acquisitions, top executives said this week, noting that a jump in the price of bullion has made potential purchases pricey, and memories of failed deals linger. The need for financial discipline was the dominant theme at the Denver Gold Forum... 

Big gold miners see muted M&A as bullion's rise limits bargains

With a bird in hand, Northern Superior targets fall drill campaign to grow openpitable resource 

By: Henry Lazenby     21st September 2016 With a compliant six-figure inferred resource in hand, project generator Northern Superior Resources is preparing for aggressive growth campaigns this fall and winter at some of its Quebec- and Ontario-based assets. After going into hibernation mode in 2012, with the intensification of the... 

With a bird in hand, Northern Superior targets fall drill campaign to grow openpitable resource

Pan African investigating R1.7bn gold tailings project 

By: Martin Creamer     21st September 2016 Gold mining company Pan African Resources is investigating a large gold tailings retreatment project at its Evander mines in Mpumalanga. Underwritten proposals have been received for the full financing package for the Elikhulu project, which will require an estimated capital expenditure of... 

Pan African investigating R1.7bn gold tailings project
Pan African CEO Cobus Loots outlines growth plans to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer. 21.9.2016

Pan African profit soars, dividend increased

By: Martin Creamer     21st September 2016 A year of record gold production has resulted in the Pan African Resources group delivering an outstanding set of results. In the 12 months to June 30, the gold mining operations of the London- and Johannesburg-listed company saw particularly outstanding performance from its Evander mines, which... 

Pan African profit soars, dividend increased
Photo by Duane Daws
Pan African CEO Cobus Loots

Giant Gold Fields mine won’t be so giant for up to five years

By: Bloomberg     21st September 2016 Gold Fields’ South Deep mine will be smaller than initially planned for at least the next three years as the company focuses on keeping it profitable, CEO Nick Holland said Tuesday. Last year, the Johannesburg-based company dropped a target for South Deep to produce 650 000 oz to 700 000 oz by... 

Gold digger turns alchemist chasing billions hidden in waste

By: Bloomberg     21st September 2016 With gold output in South Africa mired in a multiyear decline, the country’s biggest producer is turning to an overlooked and cheaper source of supply: the dump. About 6.5-million ounces valued at $8.5-billion is buried inside mammoth mounds of discarded mine waste at sites owned by  Sibanye... 

Gold digger turns alchemist chasing billions hidden in waste
Photo by Duane Daws
Sibanye executive VP of business development Grant Stuart

Blackham hedges more gold

By: Esmarie Swanepoel     21st September 2016 ASX-listed Blackham Resources has forward sold a further 34 250 oz of gold from its Matilda gold project, in Western Australia, at an average price of A$1 774/oz. The hedging facility was undertaken with Investec Australia and will be delivered over the next 18 months of production. 

Kin raises cash to advance Leonora project

By: Esmarie Swanepoel     21st September 2016 Junior gold miner Kin Mining is hoping to raise A$3.8-million through a nonrenounceable rights issue. The company will place a maximum of 17.2-million shares, at 22c each, to raise the funds. Sydney-based investment firm Kamara Group has agreed to underwrite the rights issue. 

Expansion offers lifeline for Ravenswood

By: Esmarie Swanepoel     21st September 2016 A feasibility study into the expansion of the Ravenswood gold mine, in Queensland, has extended the mine life by another 13 years, to 2029. Gold miner Resolute Mining said on Wednesday that the expansion project feasibility study estimated that average yearly gold production of 120 000 oz could... 

Gold bull McEwen sees prices as high as $1 900 by end of year

By: Bloomberg     21st September 2016 Robert McEwen, one of the gold’s industry’s most unabashed bulls, is predicting prices could surge as much as 44% by the end of the year as confidence in the economy buckles. The metal could trade in a range of $1 700/oz to $1 900/oz by the end of 2016 as uncertainty builds around the stability... 

Gold bull McEwen sees prices as high as $1 900 by end of year
Photo by Bloomberg
McEwen Mining chief owner Robert McEwen

Osisko hits high-grade sods at ‘company-making’ Windfall Lake

By: Henry Lazenby     21st September 2016 Explorer and project consolidator Osisko Mining has hit some high-grade returns with recent exploration work at its Quebec-based Windfall Lake gold project, reporting intersections containing as much as 391 g/t gold over 3.1 m (uncut). The Montreal-based company is currently undertaking an... 

Barrick sees ‘perfect storm’ brewing around cost-effective renewables

By: Creamer Media Reporter      20th September 2016 Renewable-energy sources have reached the stage where they can reduce energy costs as well as emissions, Barrick Gold’s senior manager of energy and greenhouse gases (GHGs), Russell Blades, tells Energy and Mines. “We are seeing a ‘perfect storm’ brewing around renewables. Solar and energy... 

Barrick sees ‘perfect storm’ brewing around cost-effective renewables
Photo by Energy & Mines
Barrick's 20 MW Punta Colorada wind farm, Chile

South African ‘Mining Hall of Fame’ on way – Swanepoel

By: Martin Creamer     20th September 2016 A South African ‘Mining Hall of Fame’ is on the way. Revealing this at a pre-Joburg Indaba presentation on Tuesday, chairperson Bernard Swanepoel noted that South Africa was odd mining jurisdiction out in not having a mining hall of fame. 

South African ‘Mining Hall of Fame’ on way – Swanepoel
Photo by Duane Daws
Joburg Indaba chairperson Bernard Swanepoel

South African gold and diamond miners shine, base metals face slow recovery

By: African News Agency      20th September 2016 Moody’s Investors Service on Tuesday said South African gold and diamond miners’ credit quality had good prospects to continue strengthening. Moody’s assistant VP Douglas Rowlings said the gold and diamond miners that the agency rated in South Africa had already re-set their operations to... 

SA’s cost-of-doing-business ranking badly down – Chamber

By: Martin Creamer     20th September 2016 South Africa has plummeted to an abysmally low level in the World Bank’s 160-country cost-of-doing-business rankings. On the bank’s Doing Business scale, which measures the fitness of a country’s economy to grow and compete, South Africa has tumbled 15 notches since 2007, from position number 58,... 

SA’s cost-of-doing-business ranking badly down – Chamber
Chamber of Mines CEO Roger Baxter

World’s top gold miners locked in standoff in Australian outback

By: Bloomberg     20th September 2016 Deep in the heart of Australia’s dusty outback, the world’s biggest gold mining companies are locked in a standoff. At the centre of the impasse is a 50% stake in the country’s largest openpit gold mine, known as the Kalgoorlie super pit. Barrick Gold, the No. 1 bullion producer, wants to sell... 

World’s top gold miners locked in standoff in Australian outback
Kalgoorlie Super Pit

Froneman says Zuma must quit

By: Bloomberg     20th September 2016 South African President Jacob Zuma “has to go,” with poor governance deterring prospective investors, according to the head of Sibanye Gold, the biggest producer of bullion in the country. “Any solid investor, any solid company is founded on good governance and what we have in South Africa at the... 

Froneman says Zuma must quit
Photo by Duane Daws
Sibanye CEO Neal Froneman

Case against 22 illegal miners in Welkom postponed

By: News24Wire      20th September 2016 The case against 22 illegal miners arrested at a Welkom gold mine was postponed in the Bloemfontein Magistrate’s Court, Free State police said on Monday. The matter was postponed to September 26 for a formal bail application, Captain Stephen Thakeng said. 

Updated PFS shows Seabridge’s KSM profitable at current prices

By: Henry Lazenby     20th September 2016 British Columbia-focused Seabridge Gold has published an updated preliminary feasibility study (PFS) on its Kerr-Sulphurets-Mitchell (KSM) project, updating the project capital and operating costs to the 2016 economic environment. The company said on Monday that, building on a similar treatise... 

Primero reports exploration upside

By: Henry Lazenby     20th September 2016 The TSX-listed stock of precious metals producer Primero Mining on Monday rose as much as 4% after it reported positive exploration results at its Black Fox mine, in Ontario, as well as at its San Dimas mine and the Lechugilla concession, in Mexico. Vancouver-based Primero reported that initial... 

Barrick says Argentina mine may resume within two weeks

By: Reuters     19th September 2016 Barrick Gold's Veladero gold mine, in Argentina, one of its five core mines, could resume operations in the next two weeks, Barrick president Kelvin Dushnisky said in an interview on Monday. "I am hopeful that it could be up and going in that kind of two-week window depending on how the... 

Barrick says Argentina mine may resume within two weeks

Barrick could meet 2016 debt cut target from cash flow – president

By: Reuters     19th September 2016 Barrick Gold expects to be able to reach its target of reducing debt by $2-billion by year-end even without selling any assets, company president Kelvin Dushnisky said on Monday. "We are confident we will get to our $2-billion mark with or without an asset sale . . . presuming gold prices... 

TomaGold broadens reach to Chile through Red Metal Resources acquisition

By: Henry Lazenby     19th September 2016 Canadian gold explorer TomaGold is expanding into Chile, after announcing Monday that it had signed a letter of intent (LoI) to acquire all the outstanding shares of Red Metal Resources. The proposed acquisition will give TomaGold ownership of, or options to own, 100% of the Farellon, Perth and... 

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