R/€ = 15.66 Change: -0.01
R/$ = 13.43 Change: -0.01
Au 1270.73 $/oz Change: 2.63
Pt 878.00 $/oz Change: 13.83

Gold News

Ghana approves Gold Fields, Asanko JV

By: Anine Kilian     22nd June 2018 The Ghanaian government has granted regulatory approval for the completion of Gold Fields’ joint venture (JV) with Canada-based Asanko Gold. Gold Fields and Asanko announced in March that the JSE-listed major would buy a 45% interest in the Asanko gold mine (AGM), in Ghana, for $185-million. 

Vast one step closer to final approval for Baita Plai

By: Mariaan Webb     22nd June 2018 Aim-listed mining company Vast Resources could start mining a 1.8-million-tonne-orebody in Romania in the near future, with the company only one regulatory step away from final approval for the Baita Plai polymetallic mine. Vast said Minister of Economy had approved the association licence... 

Vast one step closer to final approval for Baita Plai
The Baita Plai tailings dam

Tri-Star raises cash to invest in Oman antimony project

By: Mariaan Webb     22nd June 2018 London-listed Tri-Star has announced a placing to raise £13-million, the proceeds of which mainly will be used to meet its share of additional investment in its Oman antimony and gold processing joint venture (JV). Tri-Star, which owns 40% of Strategic and Precious Metals Processing (SPMP), said... 

Cashed-up bargain hunter SSR is on the prowl for next gold mine

By: Bloomberg     22nd June 2018 Flush with cash and armed with a knack for spotting mines producing below their potential, SSR Mining is on the hunt for more assets. “We want to continue to grow, no question,” John DeCooman, VP of strategy and business development, said in an interview Wednesday. “We’ll continue to look for... 

Cashed-up bargain hunter SSR is on the prowl for next gold mine

Stonewall plans for 2019 restart of production at Pilgrims Rest project

By: Nadine James     22nd June 2018 ASX-listed Stonewall Resources’ Pilgrims Rest gold project, in Mpumalanga, is expected to start production towards the end of 2019. Stonewall Mining South Africa CEO George Jenkins told African Mining Network attendees on Thursday evening that the company is converting its mining permits to... 

Ghana Parliament ratifies AngloGold’s Obuasi agreements

By: Anine Kilian     22nd June 2018 Ghana’s Parliament has ratified regulatory and fiscal agreements that cover the redevelopment of AngloGold Ashanti’s Obuasi gold mine into a modern, productive mining operation. The ratification, on Thursday, of the development agreement, together with the tax concession agreement, is an... 

Semafo appoints new exploration VP

By: Anine Kilian     22nd June 2018 Richard Roy has been appointed VP of exploration at TSX-listed Semafo, effective July 1. He succeeds outgoing VP of exploration and geology and qualified person Michel Crevier, who will step down on June 30, but remain available to the corporation on a consulting basis. 

West African updates Sanbrado feasibility study

By: Esmarie Swanepoel     22nd June 2018 An updated feasibility study (FS) into the Sanbrado gold project, in Burkina Faso, has increased the project’s production expectations and the mine life, owner West African Resources reported on Friday. Sanbrado is expected to produce an average of 211 000 oz/y of gold over the first five years... 

Board spill a delaying tactic to repay A$1m – Empire

By: Esmarie Swanepoel     22nd June 2018 The directors of gold junior Empire Resources have urged shareholders to vote against a proposed board spill at the company’s general meeting on July 24, saying that the requisition is a delaying tactic by parties owning the company A$1.02-million. The Supreme Court of Western Australia earlier... 

Beadell terminates Tucano contract

By: Esmarie Swanepoel     22nd June 2018 Gold miner Beadell Resources and contract miner MACA have mutually terminated the openpit mining contract for the Tucano gold mine, in Brazil Beadell said on Friday that MACA and its Brazilian subsidiaries will cease mining services immediately, with mining at Tucano to be conducted by a... 

Top Dalradian shareholder supports Orion Mine takeover offer

By: Reuters     22nd June 2018 M&G Investment Management, the biggest shareholder in Dalradian Resources, said on Thursday it was supportive of a friendly cash takeover offer for Dalradian from private equity group Orion Mine Finance. The C$1.47 a share offer is fair, Jamie Horvat, director of global equities at M&G, told... 

New molecules to simplify precious metals recovery

By: Nadine James     22nd June 2018 US-based University of Notre Dame researchers have invented a new class of molecules that can simplify the process used to recover precious metals such as gold, platinum, and palladium, the university noted in a press statement last week. The research was funded by the US National Science... 

China continues to encourage foreign mining investment

By: Rebecca Campbell     22nd June 2018 In early April the People’s Republic of China established a new Ministry, that of Natural Resources (MNR). The creation of the new Ministry was part of a programme to restructure the country’s State Council (Cabinet). The MNR took over all the responsibilities of the previous (and now... 

China continues to encourage foreign mining investment

Indonesia may finalise new mining law by month-end

By: Nadine James     22nd June 2018 News of a new Indonesian mining law first emerged in 2016, and the draft legislation has been revised several times since, US-based international law firm Bryan Cave Leighton Paisner partner and foreign legal consultant Marius Toime noted in a legal opinion last month. Some of the country’s major... 

Russian Jan-March gold output at 51.6 t

By: Reuters     21st June 2018 Russia produced 51.6 t of gold in the first three months of 2018, up from 50.9 t in the same period in 2017, the Finance Ministry said on Thursday. Production for the period included 39.78 t of mined gold compared with 38.93 t a year ago, the Ministry said. 

Petropavlovsk's biggest shareholder outlines his case for change

By: Reuters     21st June 2018 Russian miner Petropavlovsk's largest shareholder, who is calling for an overhaul of the board, has written to fellow shareholders, setting out plans to sell the company's stake in an iron ore unit and to draw up deal targets in the gold sector. The company holds its annual general meeting in... 

Matador raises funds for Cape Ray buy

By: Esmarie Swanepoel     21st June 2018 Junior Matador Mining has completed a A$5-million capital raise to complete the acquisition of the Cape Ray gold project, in Canada. Matador in April acquired the project from TSX-V listed Benton for a total cash consideration of A$3.5-million and eight-million fully paid ordinary shares, as... 

Rio-Carb commissions academic research into the future of South Africa’s mining sector

By: Nadine James     21st June 2018 Chromium carbide (CrC) wear solutions provider Rio-Carb MD Martin Maine has identified a gap in the mining sector in the form of a lack of local beneficiation in the second-tier supply chain in the South African mining industry, and has commissioned academic research to establish how the country... 

Rio-Carb commissions academic research into the future of South Africa’s mining sector
Rio-Carb MD Martin Maine

Marindi makes plans to sell Pilbara conglomerate gold project

By: Esmarie Swanepoel     21st June 2018 ASX-listed Marindi Metals has signed a letter of intent (LoI) to divest of its Bellary Dome conglomerate gold project, in the Pilbara, to TSX-V-listed Pacton Gold. Under the LoI, the two companies have agreed to a ten-day exclusivity period in which time the Canadian company would complete a... 

Sumitomo buys 5% stake in Newmont-Buenaventura gold mine

By: Reuters     21st June 2018 Japanese trading house Sumitomo Corp on Thursday said it had agreed to buy a 5% stake in the Yanacocha gold mine in Peru for $48-million, as it looks to boost its assets in the metals sector. Yanacocha, which has been in production since 1993, was Peru's largest gold mine until output began... 

Orion expands Curraghinalt ownership with C$1.47-a-share offer for Dalradian

By: Mariaan Webb     21st June 2018 TSX- and Aim-listed Dalradian Resources on Thursday announced recommended cash offer of C$1.47 a share by investment management group Orion Mine Finance, valuing the developer of the Curraghinalt gold project, in Northern Ireland, at C$537-million. Under the agreement, Curraghinalt will continue... 

Orion expands Curraghinalt ownership with C$1.47-a-share offer for Dalradian

Newcrest gets pay-out for seismic event

By: Esmarie Swanepoel     21st June 2018 Gold miner Newcrest Mining has been awarded a A$155-million insurance pay-out in relation to a seismic event at its Cadia operations, in New South Wales, in April last year. The miner was forced to suspend operations following the seismic event, with Newcrest subsequently spending some... 

Trump's fickleness is dulling gold's appeal, Deutsche Fund says

By: Bloomberg     21st June 2018 Gold is failing in its traditional role as a haven in turbulent times, and a Deutsche fund manager has an explanation. On Tuesday, as the deepening trade spat between the US and China sent the S&P 500 index tumbling the most in a week, investors sought haven in the dollar, US Treasuries and yen,... 

Zimbabwe produced 3.4 tons of gold in May, Fidelity says

By: Bloomberg     21st June 2018 Zimbabwean small-scale miners produced 2.2 t of gold in May, while bigger companies had 1.2 t in output of the precious metal, the central bank’s gold-buying unit said. Fidelity Printers and Refineries didn’t give comparative production figures for a year earlier. The nation expects to produce 30... 

Serabi reports fatality at Brazil mine

By: Creamer Media Reporter      20th June 2018 Dual listed Serabi Gold on Wednesday reported that a worker had died in a mining accident at its Sao Chico mine, in Brazil. The accident, which happened during the weekend, involved the operation of one of the underground loading machines. 

Centerra delays completion of Kyrgyz strategic accord further

By: Mariaan Webb     20th June 2018 TSX-listed gold producer Centerra Gold has agreed to further extend the first longstop date of a strategic agreement it signed with the Kyrgyz government on September 11, 2017. The Toronto-based miner has pushed out the first longstop date – the date by which all conditions precedent to the... 

Centerra delays completion of Kyrgyz strategic accord further
The Kumtor mine, in Kyrgyzstan.

China Nonferrous Gold signs Pakrut mining contract

By: Creamer Media Reporter      20th June 2018 Aim-listed mineral explorer China Nonferrous Gold (CNG) has awarded the contract for first-stage mining of its Pakrut gold project, in Tajikistan, to local contractor Wenjian. The contract, worth about $7.56-million, is a tolling arrangement that is payable in accordance with each stage of... 

South African mining-focused EV manufacturer launched

By: Nadine James     20th June 2018 Battery-driven mining vehicle solution provider Battery Power Industries (BPI) officially launched on Wednesday. The South African original-equipment manufacturer specialises in the development of battery energy systems, electrical traction systems and high-speed charging systems for underground... 

South African mining-focused EV manufacturer launched

Report alleges miners inadequately disclose information on environmental rehabilitation costs

By: Nadine James     20th June 2018 Neither the law, nor the accounting standards governing company disclosures, ensure the necessary transparency and accountability about financial provision for environmental rehabilitation, the Centre for Environmental Rights (CER) alleges in its ‘Full Disclosure: The Truth about Mining... 

Sibanye-Stillwater appoints safety exec, to fund study to enhance risk management

By: Creamer Media Reporter      20th June 2018 Following a spate of fatalities at its South African mines this year, Sibanye-Stillwater has committed to funding an independent study, to be conducted by a visiting academic at the University of the Witwatersrand (Wits), with the aim of developing practical recommendations for enhancing risk... 

Sibanye-Stillwater appoints safety exec, to fund study to enhance risk management

Gold anomaly of over 8 km identified at GoldStone’s Akrokeri-Homase project

By: Creamer Media Reporter      20th June 2018 Aim-listed GoldStone Resources has identified a larger than 8 km gold-in-soil anomaly at its Akrokeri-Homase gold project, in South-West Ghana. The gold-in-soil anomaly, which runs from the historic Akrokeri underground mine to north of the Homase openpit, was identified following a review of the... 

Gold street is where South Africa’s mining history goes to die

By: Bloomberg     20th June 2018 The death rattle of the industry that once symbolised South Africa can be heard in the town of Carletonville – on Gold street. That’s where Paseka Selemela has been guarding cars since 2010, when the scaffolding business he worked for closed. Prior to that, he was an assistant at a now-shuttered... 

Deflector production set to rise

By: Esmarie Swanepoel     20th June 2018 Gold miner Doray Minerals was expecting record gold production from its Deflector mine, in Western Australia, during the 2019 financial year. The ASX-listed company on Wednesday told shareholders that Doray is expected to deliver between 80 000 oz and 85 000 oz during the 2019 financial year,... 

Capricorn improve Karlawinda economics

By: Esmarie Swanepoel     20th June 2018 An optimisation study of the Karlawinda gold project, in Western Australia, has delivered a 69% increase in the forecast pre-tax net present value, while also reducing up-front capital costs by 10%. ASX-listed Capricorn Metals on Wednesday reported that the pre-tax net present value for the... 

Hill End puts for sales sign on gold assets

By: Esmarie Swanepoel     20th June 2018 ASX-listed Hill End Gold has announced plans to divest its gold assets, following a strategic review. Hill End in May appointed PCF Capital Group to conduct a review of the company’s gold assets, in order to unlock value. 

Matsa signs gold deal with AngloGold Ashanti

By: Esmarie Swanepoel     20th June 2018 Junior gold producer Matsa Resources has inked a memorandum of understanding (MoU) with gold major AngloGold Ashanti over Matsa’s extensive Lake Carey gold project, in Western Australia. The MoU would see the two companies negotiating technical data and infrastructure sharing, with AngloGold... 

New mechanisms launched to help former mineworkers claim in landmark silicosis case

By: African News Agency      20th June 2018 A new website and a Facebook page was launched on Tuesday in a bid to assist former mineworkers and their dependents who may be entitled to compensation that have made provisions for a Trust Fund to pay mineworkers who contracted silicosis or TB at work. The historic R5 billion settlement was... 

New mechanisms launched to help former mineworkers claim in landmark silicosis case

South Korea lobbies India to relax gold import restrictions

By: Ajoy K Das     19th June 2018 The review and upgrade of the free trade agreement (FTA) between India and South Korea is facing a speed bump, with the latter seeking a relaxation of gold import restrictions. The South Korean government wants restrictions on gold shipments into India, imposed last year, to be scrapped,... 

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