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Gold News
Spitfire declares new resource for Bardoc
By: Esmarie Iannucci 13th November 2018 Following a successful merger with fellow-listed Excelsior Gold earlier this year, Spitfire Materials has now reported a Joint Ore Reserves Committee (Jorc) compliant mineral resource estimate of 2.6-million ounces for the consolidated Bardoc gold project, in Western Australia. Spitfire on... →
Lonmin's biggest union wants Sibanye deal stopped over job cuts
By: Bloomberg 13th November 2018 The biggest labor union at Lonmin has asked antitrust authorities to stop Sibanye Gold’s purchase of the struggling platinum miner if the new company intends to press ahead with more than 10 000 job cuts. Lonmin has proposed 12 459 job cuts at mines that will run out of commercial deposits in the... →
Northern Star offers A$150m for rest of East Kundana JV
By: Esmarie Iannucci 13th November 2018 Gold miner Northern Star Minerals has made a A$150-million offer to acquire the remaining 49% stake in the East Kundana joint venture (JV), in Western Australia. The 49% JV interest is jointly held by ASX-listed Tribune Resources and Rand Exploration, which have both faced a declaration of... →
Northern Star executive chair Bill Beament
TMAC’s Madrid and Boston project completes enviro assessment phase
By: Creamer Media Reporter 12th November 2018 Emerging gold producer TMAC Resources has received a project certificate from the Nunavut Impact Review Board for the Madrid and Boston project, marking the end of the environmental assessment process. The company also advised on Monday that it expected to receive the type A water licences for... →
Euro Sun’s Rovina Valley licence fully approved
By: Creamer Media Reporter 12th November 2018 Romanian Prime Minister Viorica Dăncilă has signed the mining licence for the Rovina Valley project, making TSX-listed Euro Sun Mining the first non-State-owned entity to have a ratified mining licence. “The importance of this ratification cannot be overstated. Romania has now demonstrated an... →
Kiziltepe to exceed FY guidance
By: Creamer Media Reporter 12th November 2018 The Kiziltepe joint venture (JV) mine in Turkey is “well on track” to exceed its production guidance, following another quarter of record performance, London-listed Ariana Resources reported on Monday. The mine produced a record 7 588 oz of gold during the September quarter, a 6% increase... →
Polymetal approves new gold mine
By: Mariaan Webb 12th November 2018 The board of Russian gold miner Polymetal has approved a new $234-million gold mine, which is set to enter into production in the final quarter of 2021. Announcing the outcomes of a feasibility study and board approval for the Nezhda project, Polymetal said on Monday that the mine would operate... →
Stonewall raises A$6m for Theta Hill study
By: Esmarie Iannucci 12th November 2018 ASX-listed Stonewall Resources will raise A$6-million through a private share placement to fund the feasibility study of its Theta Hill gold project, in South Africa. Shareholder Fineway Creation will subscribe for A$1.5-million in shares, representing some 166.6-million fully paid ordinary... →
Ramelius ups the ante in Explaurum bid
By: Esmarie Iannucci 12th November 2018 Gold miner Ramelius Resources has increased its takeover offer for fellow listed Explaurum by 5c a share in cash. Ramelius has presented Explaurum with a new indicative, non-binding and incomplete proposal of 5c a share in cash for Explaurum’s shares, in addition to the existing one-for-four... →
Jangada slashes project costs by almost a third
By: Mariaan Webb 12th November 2018 The Pedra Branca platinum group metals (PGM) project’s total capital cost has been reduced by 32%, following the refinement and optimisation of the process flowsheet. The project’s total capital expenditure (capex) fell from an estimated $64.9-million in the preliminary economic assessment... →
Guyana Goldfields starts underground construction
By: Creamer Media Reporter 11th November 2018 TSX-listed miner Guyana Goldfields has started underground development at the Aurora mine, in Guyana, completing the first blast on the Mad Kiss portal. The blast is a key milestone and marks the start of underground construction, president and CEO Scott Caldwell reported on Friday. →
Gold has bottomed, but not out of the woods – Refinitiv’s GFMS
By: Tasneem Bulbulia 9th November 2018 Early signs of renewed professional interest in the market and an improvement in grassroots retail activity may signal that gold has reached its bottom and that prices are set to rise, the GFMS team at Refinitiv said on Friday, but warned that the yellow metal was not out of the woods yet.... →
Tribunal to hold Sibanye, Lonmin merger hearing next week 
By: Simone Liedtke 9th November 2018 The Competition Tribunal will, from November 12 to 14, hear several submissions from parties affected by the proposed merger between precious metals miner Sibanye-Stillwater and platinum group metals (PGMs) miner Lonmin. The Competition Commission, which assesses large mergers prior to referring... →
Gold Fields lowers South Deep’s FY production forecast
By: Simone Liedtke 9th November 2018 Dual-listed Gold Fields has lowered its production guidance for the South Deep mine, in South Africa, for the full year to 154 000 oz, from the previously anticipated 244 000 oz target. The deep-level mine, which is Gold Fields’ only remaining South African operation, has long been faced with... →
Gold Fields CEO Nick Holland
Pretium expects Brucejack expansion approvals by year-end
By: Creamer Media Reporter 9th November 2018 The approvals process for the C$25-million expansion of the Brucejack mine, in British Columbia, should be wrapped up by the end of the year, TSX- and NYSE-listed Pretium Resources said on Thursday after announcing its third-quarter financial results. The expansion will increase the average... →
Canadian junior unveils study results for 230 000 oz/y Sudan mine
By: Mariaan Webb 9th November 2018 TSX-V-listed junior Orca Gold has announced positive results of a feasibility study for the Block 14 gold project in Sudan, unveiling an expanded project that will produce nearly 230 000 oz/y in its first seven years of operations. The feasibility study is based on a six-million-tonne-a-year... →
Superior claims it has rights to Vango’s Plutonic tenements
By: Esmarie Iannucci 9th November 2018 TSX-V-listed Superior Gold has launched legal proceedings against ASX-listed Vango Mining and its subsidiary Dampier Plutonic (DPPL) over tenements northeast of the Plutonic gold mine, in Western Australia. Superior Gold, through its own subsidiary Billabong Gold, is claiming that it held rights... →
Manufacturer ready to supply South and West Africa’s demands
By: Tracy Hancock 9th November 2018 The demand for more effective and efficient impeller and agitator technology is greatly increasing throughout Africa, where mining developments and mineral exploration are constantly budding, says industrial agitator and mixer manufacturer Mixtec sales and projects manager Rudi Swanepoel. →
Rwanda seeking to attract greater investment in mining sector
9th November 2018 To increase mineral exports and boost revenue from its mineral resources, Rwanda aims to attract greater investment in its mining sector, which has created over 40 000 jobs countrywide. →
DOLLAR SIGNS By 2020, Rwanda aims to generate $800-million from mineral exports and $1.5-billion by 2024
WGC launches gold data, analytics and research platform
By: Tasneem Bulbulia 8th November 2018 The World Gold Council (WGC) on Thursday launched Goldhub, a source of data, insights and analytical tools to help investors understand gold’s value as a strategic asset. Goldhub will provide investors with a range of data that is necessary when making informed decisions in relation to gold... →
Mining production down 1.8% y/y in September, led by lower gold output
By: Marleny Arnoldi 8th November 2018 Mining production decreased by 1.8% year-on-year in September, with the largest negative contributor being gold production with a decline of 19% and contributing -3.1 percentage points. The largest positive contributor was platinum-group metals (PGMs), which had a 7.2% production increase,... →
AngloGold, Anglo American & the Randgold/Barrick merger make headlines 
8th November 2018 This week, Mining Weekly editor Martin Creamer joins me to discuss AngloGold’s Commitments for continued spending in South Africa, Anglo American’s recommitments to sustainable development goals and the Randgold/Barrick merger. →
Kinross maintains FY guidance, appoints new chair
By: Creamer Media Reporter 8th November 2018 Canadian company Kinross has maintained its production guidance for the year, despite producing fewer gold equivalent ounces (GEOs) in the third quarter, and also announced the appointment of a new chairperson to succeed John Oliver when he retires at the end of December. The... →
Northern Dynasty shares surge on Alaska voting
By: Mariaan Webb 8th November 2018 The share price of Pebble project developer Northern Dynasty surged as much as 56% on Wednesday, after Alaska voters elected Mike Dunleavy new governor. Republican Dunleavy defeated Democrat Mark Begich – who is opposed to the development of the Pebble mine – in what was originally a three-way... →
Leonora budget blow-out priced
By: Esmarie Iannucci 8th November 2018 Gold developer Kin Mining has revealed cost blow-outs of between 30% and 50% at its Leonora gold project, in Western Australia, in the wake of the unauthorized release of a preliminary engineering report on the project, undertaken earlier this year. Kin in May announced plans to suspend plant... →
Kingsrose starts opencut mine at Talang Santo
By: Esmarie Iannucci 8th November 2018 Gold miner Kingsrose Mining has started an openpit operation at the Talang Santo mine, flagging its second operation at the Way Linggo gold/silver project, in Indonesia. Underground operations at Talang Santo were suspended in 2017 as the operation proved to be uneconomic in the face of... →
Randgold shareholders greenlight takeover by Barrick
By: Reuters 7th November 2018 Randgold Resources shareholders on Wednesday approved a $6.1-billion all-stock takeover by Barrick Gold, clearing one of the final hurdles to creating the world's largest gold company. Votes were 95.2% in favour of the transaction, Randgold said in a statement. Barrick shareholders approved the... →
Guyana Goldfields CFO takes medical leave
By: Creamer Media Reporter 7th November 2018 TSX-listed Guyana Goldfields said on Wednesday that executive VP of finance and CFO Paul Murphy had taken a medical leave of absence and VP of finance, Christopher Stackhouse, had been appointed interim CFO. The board wished Murphy a speedy recovery and said that it had confidence in Stackhouse... →
Polyus profit dented by currency losses
By: Reuters 7th November 2018 Polyus, Russia's largest gold producer, on Wednesday reported third-quarter net profit down 61% from a year ago to $144-million due to foreign exchange losses and other non-cash items. The company controlled by Said Kerimov, son of Russian tycoon Suleiman Kerimov, has not been targeted by the US... →
Tahoe Resources loss less then forecast but wider than last year
By: Reuters 7th November 2018 Tahoe Resources Inc posted a quarterly loss on Tuesday that was less then Wall Street expected although it widened from a year earlier, while the gold and silver miner predicted that its production for the year would be at the low end of guidance. Tahoe's Escobal silver mine in Guatemala, the... →
Iamgold says growth projects robust as third-quarter output slips
By: Mariaan Webb 7th November 2018 Canada-based Iamgold has a robust pipeline of development projects and is looking to bolster its credit facility to facilitate its growth strategy, president and CEO Steve Letwin said on Tuesday, after reporting lower third-quarter production and revenue. The company, which operates mines in the... →
Large Canadian gold miners ‘to finish year strong’ despite lower prices – EY
By: Creamer Media Reporter 7th November 2018 Despite lower gold prices in the second and third quarters of the year, Canada’s large-cap gold companies are trending towards a stronger second half and most of them are looking to finish the year strong, EY Canada Mining and Metals transaction leader Jay Patel said on Tuesday. The gold price... →
Woodlark DFS numbers unveiled
By: Esmarie Iannucci 7th November 2018 The definitive feasibility study (DFS) into the Woodlark gold project, in Papua New Guinea, has increased the estimated capital cost from the A$180-million considered in the March prefeasibility study, to A$198.5-million. Project developer Geopacific Resources on Wednesday told shareholders that... →
ECR scouting for low-cost gold, energy metals opportunities
By: Creamer Media Reporter 6th November 2018 Difficult market conditions in the junior resource sector have opened up multiple prospects for London-listed ECR Minerals, which on Tuesday confirmed that it was considering a number of gold and potentially energy minerals opportunities. The company has already announced an option agreement to... →
October inflows to gold-backed ETFs up as investors hedged risk -WGC
By: Reuters 6th November 2018 Gold-backed exchange-traded funds (ETFs) registered increased inflows to both North American and European funds during October, as tumultuous equity markets triggered flight-to-quality buying, the World Gold Council said on Tuesday. North American funds had inflows of $561-million while European... →
Alacer processes first sulphide ore through new Çöpler plant
By: Creamer Media Reporter 6th November 2018 Dual-listed Alacer Gold has processed the first sulphide ore through its newly constructed sulphide plant at the Çöpler mine, with the first autoclave coming on line over the weekend and now operating as designed. Announcing the achievement on Tuesday, CEO Rod Antal hailed the successful... →
Randgold/Barrick merger giving gold mining investment new attraction
By: Martin Creamer 6th November 2018 During gold mining’s years of prosperity, the industry was able to harvest and feed off itself. But in recent years, it has lost $100-billion worth of value, with increasing revenue streams being consumed by lower reserve grade. →
Randgold Resources CEO Mark Bristow
Nordgold adjusts FY guidance on lower-than-expected Q3 output
By: Mariaan Webb 6th November 2018 UK-based Nordgold has lowered its production guidance for 2018, after third-quarter output fell short of management expectations, following a rockslide at the Russia-based Berezitovy mine. The company, which operates four mines in Russia, three in Burkina Faso and one each in Guinea and... →
