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Gold News
Further extension to Centerra’s Kyrgyz strategic accord
By: Creamer Media Reporter 16th July 2018 Canadian miner Centerra Gold and the government of Kyrgyzstan have further extended the first longstop date under the strategic agreement for environmental protection and investment promotion that they entered into last year. The Toronto-based miner has pushed out the first longstop date – the... →
New mining fund raising R750m to co-finance ancillary mine projects 
By: Martin Creamer 16th July 2018 In an economic environment of tight capital allocation and bank pull back from mining finance, the new tax-incentivised CCP 12J Mining Fund is going all out to raise R750-million for co-investment in ancillary project opportunities on existing mine sites. On the list of targeted project... →
Production at Xtract’s Manica concession increases 42% q/q
By: Marleny Arnoldi 16th July 2018 Alluvial mining contractors operating at Aim-listed Xtract Resources’ Manica concession, in Mozambique, produced 1 703 oz of gold in the second quarter – a 41.9% quarter-on-quarter increase. →
Employees on strike at Randgold’s Tongon mine
By: Marleny Arnoldi 16th July 2018 Gold miner Randgold Resources on Monday said the government-led process to resolve industrial relations issues at its Tongon mine, in Côte d’Ivoire, was interrupted over the weekend when employees went on strike. →
McEwen’s operations on track to meet full-year guidance
By: Marleny Arnoldi 16th July 2018 Dual-listed precious metals producer McEwen Mining produced 36 959 oz of gold and 772 432 oz of silver, or 47 258 gold-equivalent ounces (GEOs), for the second quarter of this year. →
Panthera completes initial RC drilling at Burkina Faso project
By: Marleny Arnoldi 16th July 2018 Aim-listed gold exploration and development company Panthera Resources has completed 1.07 km of reverse circulation (RC) drilling over eight holes at its Naton project in southern Burkina Faso. →
Major Beadell shakeup targets $100m cost savings
By: Esmarie Swanepoel 16th July 2018 Gold miner Beadell Resources has implemented major management changes and cost reductions at its Tucano mine, in Brazil, that could save more than $100-million. CEO and MD Simon Jackson and COO Peter Holmes will step down from their current positions, with Dr Nicole Adshead-Bell taking over as... →
Pantoro hits targets
By: Esmarie Swanepoel 16th July 2018 Gold miner Pantoro has hit its production targets for the full year ending June, producing 52 203 oz of gold, which was within the guidance of between 50 000 oz and 55 000 oz. In the three months to June, Pantoro produced 11 694 oz of gold, which is lower than the 13 385 oz produced in the... →
David Price steps down from Lionsgold board
By: Creamer Media Reporter 13th July 2018 London-listed gold exploration, production and retail firm Lionsgold has appointed a new interim chairperson, following the resignation of David Price as nonexecutive chairperson with immediate effect to focus on his CEO role at Aim-listed Rockfire Resources. Corporate lawyer Michael Corcoran,... →
W confirms thick gold intersections at Portugal project
By: Creamer Media Reporter 13th July 2018 Exploration company W Resources is continuing to get strong gold intersections from the 15-hole drilling campaign at its São Martinho gold project in Portugal, chairperson Michael Masterman reported on Friday, announcing assay results from the first seven holes. Among the results are a 25 m... →
SSR Mining reports mixed bag in June quarter
By: Esmarie Swanepoel 13th July 2018 TSX- and New York-listed metals producer SSR Mining Inc has reported a mixed bag from its three operating mines during the three months to June Gold production from the Marigold operation increased by more than 15% during the quarter, to 49 436 oz, compared with the 42 960 oz delivered in the... →
Hecla mines outperform; Klondex deal to close this month
By: Mariaan Webb 13th July 2018 US-based precious metals miner Hecla has reported a 7% decrease in second-quarter silver production, but it still managed to exceed production expectations, boosting the company’s cash position to its second-highest in six years. Silver production decreased from 2.81-million ounces in the June... →
Perseus sets conservative target for 2019
By: Esmarie Swanepoel 13th July 2018 Dual listed Perseus Mining has set a production target of between 130 000 oz and 150 000 oz for the next six months to December, following a strong June quarter and full year. The miner said on Friday that based on actual operation performances at both its Edikan and Sissingue mines, in Ghana... →
Dacian raises A$40m in oversubscribed placement
By: Esmarie Swanepoel 13th July 2018 Junior gold miner Dacian Gold has raised A$40-million in an institutional share placement, to accelerate the exploration at its Mt Morgans operation, in Western Australia, and to extinguish a life-of-mine royalty obligation. The ASX-listed miner earlier this week launched the placement, priced... →
Resolute secures key permit to turn Bibiani back on
By: Esmarie Swanepoel 13th July 2018 Gold miner Resolute Mining is expected to make a final investment decision on the Bibiani underground mine, in Ghana, in 2019, the company said on Friday, announcing that it had received an environmental permit authorisation to recommission the mine and processing plant. Resolute said on Friday... →
Zimbabwe has skills, natural resources to support increasing investment
By: Erin Steenhoff-Snethlage 13th July 2018 Zimbabwe has adequate skilled and unskilled labour to support increasing investment and the expansion of mining operations, claims mining, exploration and development company Caledonia Mining. Caledonia owns the Blanket gold mine in Zimbabwe, one of the few operating gold mines in the country.... →
Artisanal mining, geopolitical milieu remain challenges
By: Erin Steenhoff-Snethlage 13th July 2018 Artisanal mining in West Africa, as well as an unstable geopolitical environment, remain core challenges to mining investment in the area, states Western Australia-based project developer Sarama Resources. “As noted by a number of key industry players, artisanal mining is becoming pervasive and... →
Asanko focusing on Esaase development to expand production
By: Erin Steenhoff-Snethlage 13th July 2018 As part of its near-term organic growth strategy, Canadian junior gold producer Asanko Gold is focusing on expanding production at the Asanko Gold Mine (AGM) in Ghana, with the development of the Esaase gold deposit, within the 2018/19 calendar year. The AGM, commissioned in early 2016, comprises... →
Gold miner reflects on Ghana achievements
13th July 2018 Gold producer Gold Fields West Africa, a subsidiary of South Africa-based gold major Gold Fields, has invested significantly into the Ghana mining industry over the past 25 years, with shareholders, government and local communities that have and still are benefitting from the gold miner’s... →
West African mining industry shows strong growth potential
By: Erin Steenhoff-Snethlage 13th July 2018 The crowning of two West African mining projects as the winner and the runner-up of Investment Battlefield at the Investing in African Mining Indaba, held in February this year, indicates strong growth potential for mining and investment attraction in West Africa, says Canadian mineral... →
SA mines relying heavily on unskilled workers despite Industry 4.0 gaining traction
By: Dylan Slater 13th July 2018 Contrary to the expected move towards employing a higher number of skilled personnel at mines to catalyse modernisation and mechanisation targets, the South African mining industry has backtracked, employing a significant number of unskilled personnel instead, according to a report compiled by... →
Joburg to host ‘safe drilling’ event this month
By: Nadine James 13th July 2018 The DrillSafe initiative will host its inaugural Drill Safe Drill Rig & Safety Innovation Forum at the Glen Hove Conference Centre, in Johannesburg, on July 20. The forum will explore innovations in to drilling equipment and the exploration work environment, explains DrillSafe founder and Colin... →
SAFETY IS PARAMOUNT Colin Rice notes that almost every accident in an exploration drilling environment is related to human error
Angolan companies looking to find and exploit local gold and diamond reserves
By: Rebecca Campbell 13th July 2018 The Angolan Government has granted four new prospecting concessions for gold, the Macauhub news agency has reported. All four concessions have gone to partnerships formed by the State-owned Empresa Nacional de Ferro de Angola (Ferrangol – the National Iron Company of Angola) with various private... →
Record gold production at Jaguar’s Pilar mine during Q2
By: Marleny Arnoldi 12th July 2018 TSX-listed Jaguar Mining produced 18 819 oz of gold during the quarter ended June 30, including record output from the Pilar gold mine, in Brazil. →
Anaconda Mining withdraws Maritime Resources buyout offer
By: Marleny Arnoldi 12th July 2018 TSX-listed emerging miner Anaconda Mining on Thursday announced the withdrawal of its previously announced buyout bid to acquire all shares of Maritime Resources. “With the recently completed private placement, Maritime shareholders made it clear that they stood with management and wanted to... →
South African gold output falls most since February 2017 in May
By: Bloomberg 12th July 2018 Gold output in South Africa, once the world’s biggest producer of the metal, declined the most since February 2017 in May. Production dropped 16.2% from a year earlier, compared with a revised 5.8% contraction in April, Pretoria-based Statistics South Africa said Thursday in a statement on its... →
Fatality-free Pan African sparkles on lower-cost, longer-life prospects
By: Martin Creamer 12th July 2018 Pan African has repositioned itself as a lower-cost, longer-life gold mining company that is guiding production of 170 000 oz of gold in the 12 months to June 30 next year. The Aim- and JSE-listed company saw its Barberton Mines commendably achieve a million fatality-free shifts and help the... →
Pan African CEO Cobus Loots
Empire strikes out at JV partner
By: Esmarie Swanepoel 12th July 2018 Junior gold miner Empire Resources has terminated its joint venture agreement with Brimstone Resources over the Penny’s Find mine, in Western Australia. Empire holds a 60% interest in the project area, with the receiver appointed to Brimstone holding the remaining 40% interest. →
WPG sets production record despite Challenger issues
By: Esmarie Swanepoel 12th July 2018 Junior gold miner WPG Resources has reported record quarterly production of 17 818 oz, with the month of June also producing a record 7 155 oz. The June quarter production was up from the 14 124 oz produced in the previous quarter. →
Resolute beats production guidance, sets bar higher for FY19
By: Esmarie Swanepoel 12th July 2018 Gold miner Resolute Mining is targeting 300 000 oz of production in the 2019 financial year, after 2018’s output exceeded expectations. The miner told shareholders on Thursday that gold production in the 2018 financial year reached 284 127 oz, which exceeded the guidance of 280 000 oz, with the... →
Caledonia reports fatality, flat Q2 production at Zim mine
By: Creamer Media Reporter 12th July 2018 Caledonia Mining Corporation’s 49%-owned Blanket mine, in Zimbabwe, produced 12 657 oz of gold in the quarter ended June 30. Output was 2% lower quarter-on-quarter, but 1% higher year-on-year. →
Indonesia reaches preliminary deal with Freeport on Grasberg
By: Bloomberg 12th July 2018 Indonesia has struck an “initial agreement” to take majority ownership of Freeport-McMoRan’s giant Grasberg copper and gold mine, President Joko Widodo told reporters in Jakarta on Thursday. State-owned PT Indonesia Asahan Aluminium, also known as Inalum, will end up with a 51% stake,... →
Barrick trims copper guidance, gold forecast intact
By: Mariaan Webb 12th July 2018 Toronto, Canada-headquartered Barrick Gold has maintained its gold production guidance for 2018 at between 4.5-million and 5-million ounces, but has slashed 40-million pounds off its copper production guidance, owing to operational challenges at its biggest copper mine – Lumwana, in Zambia. The... →
Gold sector wage negotiations to resume on July 18
By: Marleny Arnoldi 11th July 2018 The primary focus of proceedings during the first day of wage negotiations between unions and gold producers, on Wednesday, was for the four representative unions to present and motivate their demands for consideration by the gold producers. →
Ounces continue to stack up at Deflector
By: Esmarie Swanepoel 11th July 2018 Gold miner Doray Minerals will spend A$10-million on exploration activity at its Deflector gold project, in Western Australia, during 2019. The miner on Wednesday reported that the mineral resource at the Deflector project had increased by 34% after mining depletion, to 762 000 oz of gold, while... →
Dacian unveils A$37m raising to accelerate Mt Morgan exploration
By: Esmarie Swanepoel 11th July 2018 Junior gold miner Dacian Gold will raise A$37-million through an institutional placement to accelerate exploration programmes at its Mt Morgans project, in Western Australia. Some 13.7-million shares will be offered at a price of A$2.70 each, with the ability to take oversubscriptions to raise... →
Ariana’s Turkey JV outperforms feasibility expectations
By: Mariaan Webb 11th July 2018 The Kiziltepe mine, which Aim-listed Ariana Resources owns in a joint venture (JV) with Turkey's Proccea Construction, has delivered its best-to-date production performance, with gold output climbing to 7 171 oz in the June quarter. The gold production was a 47% increase on the first quarter’s... →
Kirkland Lake’s Yee joins Eldorado as finance chief
By: Mariaan Webb 11th July 2018 Gold and base metals producer Eldorado Gold has appointed Kirkland Lake’s Philip Yee as executive VP and CFO with effect from September this year. Announcing the appointment on Tuesday, Eldorado president and CEO George Burns said Yee would strengthen the company’s leadership team. “Phil brings... →
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