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Gold News

Gold continues 'slow dance' around $1 200 despite fund exodus

By: Bloomberg     18th September 2018 Gold is sticking to a narrow trading range around $1 200/oz even after holdings in bullion-backed exchange-traded funds plunged to their lowest in a year. Bullion for immediate delivery was 0.2 percent lower at $1 198.74/oz as of 11:29 a.m. in London. In the last month, gold has traded within a... 

Ramelius goes underground at Edna May

By: Mariaan Webb     18th September 2018 Gold miner Ramelius Resources has opted for underground operations at Edna May, rather than developing a large Stage 3 openpit cutback at the Western Australia-based operation. Starting in early 2019, the company will start underground mining and ore production is expected from the start of the... 

Ramelius goes underground at Edna May
Edna May is currently an openpit operations but will go underground early next year.

PFS generates positive feedback for Cardinal’s Ghana gold project

By: Tasneem Bulbulia     18th September 2018 Gold-focused Cardinal Resources’ prefeasibility study (PFS) for the Namdini gold project in Ghana has confirmed it as one of the country’s and continent’s most promising undeveloped, large gold assets. The financial modelling of the project has shown it to be technically sound and financially... 

Imperial exploring ‘strategic alternatives’ as it restructures

By: Mariaan Webb     18th September 2018 Troubled Vancouver-based Imperial Metals Corporation has embarked on a restructuring process, which will entail exploring “all strategic alternatives” for the company, the owner of the Red Chris, Mount Polley and Huckleberry copper and gold mines in British Columbia announced on Monday.... 

Imperial exploring ‘strategic alternatives’ as it restructures
Mount Polley Hazeltine Creek

Coeur reports fatal accident at Palmarejo

By: Creamer Media Reporter      18th September 2018 NYSE-listed Coeur Mining on Monday reported that two workers had died at its Palmarejo silver/gold mine, in Mexico, the previous week. The company explained that two underground production drillers fell into a void after the ground below them collapsed. The area was evacuated and all underground... 

Serabi gets extension for Sprott loan

By: Creamer Media Reporter      17th September 2018 Brazil-focused Serabi Gold has agreed an extension to the repayment terms for a $3-million loan with Sprott, allowing the Aim- and TSX-listed gold miner and developer with flexibility to fund work brought forward at the Coringa project. The loan, which was taken out in January, will now have a... 

AngloGold reaches three-year wage deal with AMCU, Uasa, Solidarity

By: Marleny Arnoldi     17th September 2018 AngloGold Ashanti has concluded a wage agreement with unions, the Association of Mineworkers and Construction Union (AMCU), Uasa and Solidarity, in respect of wages and conditions of service for the three-year period starting July 1 and ending June 20, 2021. The wage agreement allows for... 

AngloGold reaches three-year wage deal with AMCU, Uasa, Solidarity
AMCU president Joseph Mathunjwa signs wage agreement with AngloGold Ashanti

AngloGold’s Tropicana on track to deliver 500 000 oz/y from 2020

By: Marleny Arnoldi     17th September 2018 There is a strong focus on continuous improvement at AngloGold Ashanti’s 70%-owned Tropicana mine, in Australia, and the aim is to produce 500 000 oz/y of gold from 2020, with support from the adjacent Boston Shaker prospect. In a presentation to the media, on Monday, AngloGold Ashanti... 

W boosts board with Madrid-based directors

By: Creamer Media Reporter      17th September 2018 Tungsten, copper and gold mining company W Resources has appointed two Madrid-based directors, Pablo Neira and James Argalas, as nonexecutive directors. Neira brings over 30 years of international experience specialising in managing listed industrial manufacturing companies and family office... 

Vango makes offmarket bid for Dampier Gold

By: Mariaan Webb     17th September 2018 ASX-listed Vango Mining on Monday announced an all-scrip offmarket takeover offer for fellow-listed Dampier Gold, valuing the explorer and developer at 5.6c a share. The offer is a near 87% premium on Dampier’s share price on Friday and also 98% above the company’s one-month volume weighted... 

Encounter/Newcrest JV granted new Tamani licences

By: Simone Liedtke     17th September 2018 ASX-listed Encounter Resources has been granted seven new exploration licences in the Tanami gold province of Western Australia as part of its joint venture (JV) with major Newcrest Mining. The JV now controls a granted exploration tenure covering about 3 500 km2 in the province, representing... 

Metminco plans acquisition and funding announcement

By: Creamer Media Reporter      17th September 2018 Australia-headquartered Metminco requested a voluntary suspension from the ASX on Monday, pending an announcement about a proposed capital raising and acquisition. The company, which requested a trading halt last week, said that an announcement would be made on Tuesday. 

RNC says Fathers Day vein delivers more high-grade gold

By: Mariaan Webb     17th September 2018 TSX-listed RNC Minerals on Monday announced that it had doubled the strike length of the high-grade coarse gold structure of the Fathers Day vein, in the Beta Hunt mine, to about 10 m and added that it would provide an update on the estimated ounces from this new Australian gold discovery later... 

Barrick seeks Chinese partners for Tanzania mines – Globe

By: Bloomberg     17th September 2018 Barrick Gold may slash 400 jobs and involve Chinese partners in its troubled Tanzania operations, executive chairperson John Thornton told the Globe and Mail newspaper. The Toronto-based company has slashed middle management by half to about 700 and “we want to get it down to 300", Thornton,... 

Sprott takes stake in Wallbridge

By: Mariaan Webb     17th September 2018 Precious metals investor Eric Sprott has increased its shareholding in TSX-listed Wallbridge Mining through a nonbrokered private placement raising C$3.9-million. "We are pleased to have a gold investor such as Eric Sprott as one of our large shareholders. Eric is very familiar with high-grade... 

Centerra secures short-term water sources for Mt Milligan

By: Mariaan Webb     14th September 2018 British Columbia regulators have granted TSX-listed Centerra Gold approval to pump additional water – although limited volumes – for its Mount Milligan mine. The approvals, which were received earlier than anticipated, allow Centerra to pump from groundwater wells within Mount Milligan’s... 

Centerra secures short-term water sources for Mt Milligan
Mt Milligan mine

Pan African expects lower earnings

By: Martin Creamer     14th September 2018 Gold mining company Pan African on Friday advised shareholders that earnings in the 12 months to June 30 are expected to be lower than for the corresponding period last year. But the challenging operational environment has been ameliorated by the pouring last month of the first gold at the newly... 

Pan African expects lower earnings
Photo by Creamer Media
Pan African CEO Cobus Loots

Gold capital, ARM’s growth and Implats’ Zim tax relief make headlines  

14th September 2018 This week Mining Weekly editor Martin Creamer discusses gold mining capital, African Rainbow Minerals’ growth opportunities and Implats working with the Zimbabwean government. 

Gold capital, ARM’s growth and Implats’ Zim tax relief make headlines
Gold capital, ARM’s growth and Implats’ Zim tax relief make headlines

Apollo now owns 100% of Couflens

By: Creamer Media Reporter      14th September 2018 ASX-listed Apollo Minerals said on Friday that it had completed the acquisition of the remaining 20% interest in the Couflens tungsten/copper/gold project in the Pyrenees region of southern France, increasing its ownership to 100%. The company initially bought an 80% interest in 2017, and... 

Nordgold launches new Russia mine

By: Mariaan Webb     13th September 2018 Gold miner Nordgold has formally launched its third mine – the new Gross operation in Yakutia, Russia, which will turn the company into an one-million-ounce a year producer. The Gross mine will operate for 17 years and is expected to add 200 000 oz/y of to Nordgold’s production profile. 

Gold Fields plans to extend life of Peru mine through 2040

By: Reuters     13th September 2018 South African miner Gold Fields aims to extend the life of its Cerro Corona gold mine in Peru through 2040 with an investment of at least $240-million, the company's vice president for the Americas said late on Wednesday. "We're doing studies with Peruvian consulting firms and international... 

South African mining sees considerable decline of 5.2% in July – Stats SA

By: Simone Liedtke     13th September 2018 Mining production in South Africa decreased by 5.2% year-on-year in July, following a 3.7% year-on-year rise in June, mainly as a result of declines in the production of gold, iron-ore, coal and platinum-group metals (PGMs). According to Statistics South Africa (Stats SA), gold decreased by 15%,... 

South African mining sees considerable decline of 5.2% in July – Stats SA

Gold Fields ranked top South African mining company, third best global gold company

By: Marleny Arnoldi     13th September 2018 JSE- and NYSE-listed Gold Fields has again been ranked the top South African mining company on the Dow Jones Sustainability Index (DJSI) benchmarking database. The DJSI scorecard for 2018, which was published on Thursday, shows that Gold Fields’ sustainability practices rank with the best of... 

Gold Fields ranked top South African mining company, third best global gold company
Photo by Creamer Media
Gold Fields CEO Nick Holland

Chaarat appoints new board member

By: Creamer Media Reporter      13th September 2018 Aim-quoted exploration and development company Chaarat Gold has appointed Robert Edwards – a mining engineer with broad institutional and corporate experience – to its board as an independent nonexecutive director. Edwards is the former chairperson of Global Mining at Renaissance Capital and has... 

Ramelius buys WA gold project

By: Mariaan Webb     13th September 2018 Acquisitive Ramelius Resources on Thursday announced that it would buy the Marda gold project, about 190 km from its Edna May operation in Western Australia for A$13-million. The company, which earlier this week launched a hostile takeover for Explaurum, said that the Marda resource could be a... 

Power plant delays fuel tensions over Rio's giant Mongolia copper mine

By: Reuters     13th September 2018 Nearly 10 years on from the launch of a giant copper and gold project in Mongolia, Rio Tinto is still looking to secure a domestic power source it needs for the mine under an agreement with the government. Oyu Tolgoi, located in the South Gobi region near landlocked Mongolia's southern border... 

Power plant delays fuel tensions over Rio's giant Mongolia copper mine

Resources Watch  

13th September 2018 DRDGold shares leap on higher-grade fillip And, DRDGold expecting rapid gold output from West Rand tailings project 

Resources Watch
Resources Watch

Barrick to eliminate innovation role under decentralisation

By: Reuters     13th September 2018 Barrick Gold Corp will eliminate the executive role of chief innovation officer (CIO) as part of a broad decentralization push, the company said on Wednesday, adding that it will continue to work on innovation and productivity improvements. Barrick did not officially announce the change, which... 

Yamana Gold says Argentina export tax to impact on cash flow

By: Mariaan Webb     12th September 2018 Canadian miner Yamana Gold remains on track to deliver the previously flagged “step change” in cash flow, but warned on Wednesday that the new Argentina export tax would set back its plans. Last week, Argentina President Maurico Macri announced new taxes on exports as part of a larger plan aimed... 

Yamana Gold says Argentina export tax to impact on cash flow
The Gualcamayo mine.

Gold slips amid US-China trade war concerns

By: Reuters     12th September 2018 Gold fell on Wednesday, but remained stuck in a narrow trading range as investors worry about a simmering trade war between the United States and China. Spot gold was down 0.3% to $1 193.61 an ounce at 1200 GMT, after hitting its lowest since Aug. 24 at $1 187.21 on Tuesday. US gold futures eased... 

DRDGold projects boost Ergo efficiency, lower costs

By: Martin Creamer     12th September 2018 Three major projects completed by surface gold mining company DRDGold are expected to boost the fortunes of the company’s Ergo plant on the East Rand. The three projects made up the bulk of the company’s capital spend of R125.9-million in the 12 months to June 30. 

DRDGold projects boost Ergo efficiency, lower costs
Photo by Creamer Media Chief Photographer Dylan Slater
DRDGold CFO Riaan Davel

New Gold appoints new CEO

By: Marleny Arnoldi     12th September 2018 TSX- and NYSE-listed New Gold has appointed Renaud Adams president and CEO, effective September 12. He succeeds New Gold outgoing director and CEO Raymond Threlkeld, who has led the company since May.  

Toro Gold reports promising drilling results to extend Senegal mine’s life

By: Marleny Arnoldi     12th September 2018 Gold miner Toro Gold has reported highlights from its 60-hole 15 000 m core drilling programme that is under way at its 90%-owned Mako gold mine, in Senegal, including 19.5 m at 3.4 g/t gold from 193.4 m. The programme is targeting mineralisation underneath the current openpit that has the... 

Gran Colombia ups FY guidance

By: Mariaan Webb     12th September 2018 TSX-listed Gran Colombia has increased its gold production guidance for 2018 by between 10 000 oz and 20 000 oz, following a strong performance in the first eight months of the year. The company, which operates several underground mines at Segovia and Marmato in Colombia, produced 36% more gold... 

Polyus on track to boost gold output in 2019

By: Reuters     12th September 2018 Polyus, Russia's largest gold producer, is on track to boost production to 2.8-million troy ounces and to reduce its capital expenditure in 2019, its CEO Pavel Grachev told Reuters. Its 2018 production is on track to reach the upper end of its forecast range of 2.375-million to 2.425-million... 

Polyus on track to boost gold output in 2019
Polyus CEO Pavel Grachev

Brazil federal authorities should take up Belo Sun mine case, court rules

By: Reuters     12th September 2018 A Brazilian court ruled that a mine planned by Toronto-based Belo Sun Mining in the Amazonian state of Para should be examined by federal authorities and its licences reviewed, prosecutors said on Tuesday. The decision could further lengthen the approval process for the company, which has been... 

Katoro expects Kibo Nickel acquisition to close soon, mining licence for Imweru pending

By: Marleny Arnoldi     11th September 2018 Aim-listed Katoro Gold had an active six months to June 30, with the continued development of the Imweru gold project, in Tanzania, and diversifying its portfolio with the acquisition of Kibo Nickel. The company expects the Kibo transaction to be completed shortly, which will give Katoro access... 

AMCU declares dispute with three gold mining companies 

By: Marleny Arnoldi     11th September 2018 The Association of Mineworkers and Construction Union (AMCU) on Tuesday warned gold miners Sibanye-Stillwater, Harmony Gold and Village Main Reef of an imminent strike, should they fail to meet the demands of mineworkers. Wage negotiations in the gold sector started in mid-July, and AMCU and... 

AMCU declares dispute with three gold mining companies
Photo by Reuters
AMCU president Joseph Mathunjwa

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