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Drilling kicks off at Burkina Faso gold project

By: Natasha Odendaal Canadian exploration company Savary Gold has started a 15 000 m drill programme at its Karankasso project, in Burkina Faso. The project was a joint venture between Savary and West Africa-focused gold explorer Sarama Resources. 

NUM plans to demand gold wage hikes of 75% – sources

By: Reuters South Africa's National Union of Mineworkers (NUM) is planning to submit demands to the gold sector next week calling for a 75-percent hike in the basic pay for entry-level workers, according to union sources familiar with the matter. "For the basic wage at the entry level, we are planning to... 

NUM plans to demand gold wage hikes of 75% – sources

Newmont Mining posts profit well ahead of estimate

By: Reuters Newmont Mining, the world's number two gold miner, reported an adjusted quarterly profit that was double the analysts' average estimate, helped by lower costs. All-in sustaining costs to produce one ounce of gold fell nearly 18% to $849 in the first-quarter ended March 31. This cost metric,... 

Evolution buys NZ gold project

By: Esmarie Swanepoel Just days after acquiring private miner La Mancha’s Australian assets, gold miner Evolution Mining has inked another transaction to acquire the Puhipuhi project, in New Zealand. ASX-listed De Grey Mining reported this week that it would receive some A$370 000 in exchange for the Puhipuhi project. 

Tomingley suffers from water shortage

By: Esmarie Swanepoel Dry weather conditions has resulted in gold miner Alkane Resources reporting a dip in gold production during the three months to March. The miner told shareholders on Friday that extremely dry weather at its Tomingley operation, in New South Wales, meant that both mining and processing... 

Devon trial mining set to start - GME

By: Esmarie Swanepoel Junior developer GME Resources was expected to start trial mining operations at its Devon gold mine in Western Australia, by the first week of May. The ASX-listed company said on Friday that trial mining was expected to deliver between 15 000 t and 18 000 t of high-grade oxide material and... 

Mine dumps not a perpetual rehab challenge

By: Ilan Solomons JSE- and NYSE-listed surface gold miner DRDGold dismisses the public perception that mine dumps continuously cause rehabilitation challenges even after they have been removed. “This is not the case and we have to continuously stress this point to the public through our stakeholder engagement... 

Mine dumps not a perpetual rehab challenge
Photo by Duane Daws
FORMIDABLE FOOTPRINT DRDGold’s assets cover an area – about 62 km from the east to the west and 25 km from the north to the south – in the Witwatersrand, in Gauteng, and include access to about 750-million tonnes to 900-million tonnes of tailings

Project feasibility study for Golpu under way

By: Bruce Montiea Project delivery and consulting services firm WorleyParsons started working on the feasibility study for the greenfield Golpu gold project, in Papua New Guinea, last month. The project is owned by the Wafi-Golpu Joint Venture (WGJV), one of three Morobe Mining Joint Venture (MMJV) entities, and... 

Project feasibility study for Golpu  under way
GOLPU PROJECT SITE WorleyParsons has started work on the feasibility study for the Golpu gold mine project, in Papua New Guinea

Mining firms replenish coffers

By: Henry Lazenby Several miners this week successfully completed private placements to shore up their balance sheets in anticipation of pursuing their strategic corporate objectives. Africa-focused project developer Ivanhoe Mines and China-based Zijin Mining Group on Monday closed an $85-million private... 

Freeport-McMoRan books significant Q1 loss on sliding commodity prices

By: Henry Lazenby US-based diversified miner Freeport-McMoRan swung to an eye-popping first-quarter net loss of $2.5-billion, or $2.38 a share, on the back of writing down the carrying value of its oil and gas properties and a related tax charge to establish a deferred tax valuation allowance. The net loss... 

Freeport-McMoRan books significant Q1 loss on sliding commodity prices

DRDGold records higher Q3 profit, production and sales

By: Ilan Solomons JSE- and NYSE-listed surface gold miner DRDGold’s operating profit increased by 16% quarter-on-quarter to R97.6-million for the quarter ended March 31, reflecting higher gold production and sales, as well as a stronger average rand gold price. Gold production for the third quarter of the 2015... 

DRDGold records higher Q3 profit, production and sales

Acacia Mining's core profit falls on low gold prices

By: Reuters Gold miner Acacia Mining said its first-quarter core profit fell 18% as falling gold prices offset an increase in ounces sold. Gold prices are expected to average $1 209/oz in 2015, according to a poll of 38 analysts and traders conducted by Reuters in April. 

Northern Star maintains guidance despite weaker March quarter output

By: Esmarie Swanepoel Gold miner Northern Star Resources on Thursday reported that the company was on track to meet its full-year production targets, despite posting a slight decline in its March quarter production. Gold production for the three months under review declined to 135 498 oz, from 142 556 oz in the... 

Sandfire restructures DeGrussa project facility, reports higher output

By: Esmarie Swanepoel ASX-listed copper/gold miner Sandfire Resources on Thursday announced it had completed the restructuring of its $125-million DeGrussa project finance facility. The company has reached an agreement with its financier ANZ Banking Corporation to restructure the project finance facility into a... 

Sandfire restructures DeGrussa project facility, reports higher output

Newcrest boosts gold output 6% on Cadia ramp-up

By: Esmarie Swanepoel Australian gold major Newcrest Mining has reported an increase in production during the quarter ended March, as its Cadia East mine, in New South Wales, continued to ramp-up output. Gold production increased to 610 186 oz, up from 577 110 oz in the previous quarter, while copper production... 

Growing gold production swings DRDGold to profit

By: RDM News Wire DRDGold‚ a tailings retreatment operation‚ swung to profit in the first nine months of its financial year as gold production grew 11% and costs shrank. DRDGold‚ which treats old mine dumps around Johannesburg to extract gold‚ reported net profit of R7.8-million in the nine months to end-March... 

Growing gold production swings DRDGold to profit

Chile regulator seeks new sanctions against Barrick's Pascua-Lama

By: Reuters Chile's environmental regulator SMA said on Wednesday it will seek new sanctions against Barrick Gold's massive Pascua-Lama gold and silver project, further complicating the possibility that the suspended mine might resume construction. The regulator already fined Barrick $16-million in May 2013... 

Vale reports record Q1 iron-ore output despite price rout

By: Henry Lazenby Brazil-based global miner Vale has reported record first-quarter iron-ore output despite a global supply glut that wis being compounded by waning demand from China, the world’s top importer of the steelmaking ingredient. For the three months ended March 31, total iron-ore output, excluding... 

Vale reports record Q1 iron-ore output despite price rout

Nevsun makes progress with Eritrean zinc expansion

By: Henry Lazenby Canadian miner Nevsun Resources is on track to start commissioning the new zinc plant currently under construction at its flagship Bisha operation, in Eritrea, by mid-2016. The Vancouver-based firm on Wednesday reported that overall construction progress stood at 60%, with foundations and civil... 

Metallon achieves 8% y/y increase in gold production

By: Megan van Wyngaardt Gold miner Metallon Corporation produced 24 385 oz of gold in the three months ended March 31. Although output was 15% below the targeted output of 28 654 oz, it was 8% higher compared with that produced in the March 2014 quarter. 

Skills dearth retarding mechanised mining success – Gold Fields 

By: Martin Creamer Plans being fleshed out by South Africa’s Chamber of Mines (CoM) in liaison with government for a centre of excellence were poised to take mechanised mining to the next level, Gold Fields CEO Nick Holland said on Tuesday. But in the meantime, the going continued to be tough in the mechanised... 

Skills dearth retarding mechanised mining success – Gold Fields
Photo by Duane Daws
Nick Holland

Nordgold lifts Q1 gold output 26% y/y

Diversified low-cost gold producer Nordgold, which operates in Africa and Europe, on Tuesday reported that its gold output for the quarter ended March 31, at 266 000 oz, was 26% higher year-on-year. The company added that seven of its nine mines had achieved a year-on-year increase in production,... 

PanAust ups FY guidance on strong March quarter performance

By: Esmarie Swanepoel Copper and gold miner PanAust on Wednesday increased its full-year production expectations after reporting strong results from its Phu Kham and Ban Houayxai operations during the three months to March. The miner estimated full-year production at between 74 000 t and 76 000 t of... 

Saracen expects to exceed 160 000 oz guidance

By: Esmarie Swanepoel Gold miner Saracen Mineral Holdings on Wednesday reported that it was on track to exceed its 160 000 oz guidance for its 2015 financial year to June, as its year-to-date production had exceeded its guidance. During the three months ended March, Saracen produced 41 550 oz of gold, which was just... 

Canada’s mining industry welcomes federal budget 

By: Henry Lazenby Canada's national mining association has welcomed the Conservative government’s balanced federal budget 2015, citing its pleasure with renewed funding for critical areas such as environmental assessments, the Major Projects Management Office, Aboriginal education and training, and geoscience.... 

Canada’s mining industry welcomes federal budget
Photo by Reuters
Canada's Finance Minister Joe Oliver on Tuesday tabled a C$990.3-billion balanced budget.

Harmony continues to restructure to ensure long-term profitability

Harmony Gold would continue to restructure its operations to ensure long-term profitability, the company said on Tuesday. This included the completed restructuring at Kusasalethu, on the border of the Gauteng and the North West. “The full cost saving will be realised in the June quarter.... 

Perseus has ‘strong case’ to push ahead with Côte d’Ivoire gold mine

By: Esmarie Swanepoel Gold miner Perseus Mining has reduced the expected capital costs of its Sissingue project, in Côte d’Ivoire from $115-million to $106-million. A 2010 feasibility study had estimated that the project would deliver an average 106 400 oz/y of gold over the six-year mine life, based on an initial... 

Barrick taps Michael Klein as advisor on Zaldivar mine options-sources

By: Reuters Barrick Gold is being advised on options for its Zaldivar copper mine in Chile by the boutique firm of mining rainmaker Michael Klein, in a deal potentially worth around $2-billion, three sources familiar with the matter said on Monday. Toronto-based Barrick has already contacted a limited group... 

PTM pushes Waterberg resources limit 3.4 km northwards

By: Henry Lazenby Vancouver-based Platinum Group Metals (PTM) has extended the northern limit of the known Waterberg Extension deposit, on the northern limb of South Africa’s Bushveld Igneous Complex. PTM on Monday announced that new intercept WE 049 was located 3.4 km northward beyond the previous resource... 

A year on, Randgold is looking for more Kibali ounces

By: Henry Lazenby After one year of operations, LSE- and Nasdaq-listed Randgold Resources was turning its focus to finding more reserve ounces at the Kibali mine, in the Democratic Republic of Congo (DRC) to secure its future as a long-life mine and one of Africa’s largest gold producers. Randgold developed and... 

Solvista and Rockcliff ink merger accord to further Manitoba projects

By: Henry Lazenby TSX-V-listed juniors Solvista Gold and Rockcliff Resources signed a definitive amalgamation agreement on Friday that would see Solvista acquire all the issued and outstanding common shares of Rockcliff. The all-scrip transaction would combine Rockcliff’s Snow Lake copper/gold/zinc/silver prospect... 

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