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Gold News

Ghana to review corporate tax exemptions for resources sector

By: Reuters     5th April 2018 Ghana plans to review its process for granting corporate tax exemptions to mining and oil companies as part of measures to eliminate fraud and boost revenues, its vice president said on Wednesday. Mahamudu Bawumia said tax exemptions claimed by some resources companies were not transparent, and... 

Zimbabwe wants mining companies to list on local exchange

By: Bloomberg     5th April 2018 Zimbabwe wants mining companies operating in the country to list the majority of their shares on the local exchange, stirring uncertainty among investors as the nation with the world’s biggest platinum reserves after South Africa tries to bring in money to fix the economy. “No mining right or... 

Altus sees further encouraging results from Daro exploration

By: Anine Kilian     5th April 2018 Aim-listed Altus Strategies has reported further encouraging results from the recent exploration at its Daro licence, in northern Ethiopia. These include rock chip samples grading 24% copper, 1.19 g/t gold and 203 g/t gold and highly anomalous cobalt mineralisation, up to 496 ppm copper, along a... 

Gold price seen 'moving north' as world fails to replace output

By: Bloomberg     5th April 2018 Bullion prices are set to rise because there’s been a lack of exploration and the global industry isn’t replacing the reserves it’s been mining, according to Stephen Letwin, CEO at Iamgold. “Gold has a much higher probability of moving north as opposed to south,” Letwin said in an interview at... 

Millennium advances sulphide expansion plans

By: Esmarie Swanepoel     5th April 2018 Gold miner Millennium Minerals has revealed that the expansion of its Nullagine gold project, to process the sulphide mineral resource, would require a capital investment of A$15-million. The company has completed a key component of the sulphide resource expansion feasibility study for the... 

Matador buys Canadian gold project

By: Esmarie Swanepoel     5th April 2018 ASX-listed junior Matador Mining has announced plans to acquire an 80% interest in the Cape Ray gold project, in Newfoundland. The project is estimated to contain more than 500 000 oz of gold within its 100 km2 of secured tenure. 

Kefi making progress in efforts to secure funding for Tulu Kapi

By: Natasha Odendaal     5th April 2018 Aim-listed Kefi Minerals has made “good progress” in assembling a full consortium focused on raising all the development funding at project level for the Tulu Kapi mine. The gold exploration and development company, which has projects in Ethiopia and Saudi Arabia, is planning a $150-million bond... 

Mackenzie Valley review board OKs Tlicho all-season road; a boon for Fortune

By: Henry Lazenby     5th April 2018 The Mackenzie Valley Environmental Impact Review Board has completed an environmental assessment of the Tlicho all-season road project, proposed by the Northwest Territories government, subject to 23 measures to reduce its environmental, social and cultural impacts. The conditional approval was... 

Eldorado rises as Greek arbitration panel rejects State's claims

By: Henry Lazenby     4th April 2018 The TSX-listed equity of Canadian gold and base metals producer Eldorado Gold lifted off recent 52-week lows on Wednesday, after the company announced a favourable ruling by an arbitration panel in its dispute with the Greek government over its Madem Lakkos metallurgical plant. Vancouver-based... 

Eldorado rises as Greek arbitration panel rejects State's claims
Photo by Eldorado Gold
Visible mineralisation at Eldorado Gold's Skouries project, in Northern Greece

Caledonia to benefit from higher Zim Export Credit Incentive

By: Simone Liedtke     4th April 2018 Exploration and development company Caledonia Mining expects to receive up to an additional $5.1-million in income this year, following an increase to 10%, from the previous 2.5%, in Zimbabwe’s Export Credit Incentive (ECI). The ECI increase was implemented in February. 

Cadia processing resumes, full production expected in coming weeks

By: Esmarie Swanepoel     4th April 2018 Processing operations at the Cadia gold mine, in New South Wales, have resumed over the Easter Weekend. Newcrest progressively suspended operations at the Cadia East operations in March, following a limited breakthrough of tailings material at the northern tailings facility. 

Randgold's African mining acumen is being tested on all fronts

By: Bloomberg     4th April 2018 Randgold Resources’s celebrated ability to operate in Africa is being tested on all fronts, and it’s taking a toll on the London-listed gold miner’s stock. For most of the last decade, Randgold shares were the best performers among gold miners tracked by Bloomberg. Now they are among the worst in... 

First gold pour achieved at Lorena

By: Esmarie Swanepoel     4th April 2018 Junior miner Malachite Resources at the end of March poured its first gold from the Lorena gold mine, in north-west Queensland. “We are delighted to have achieved this significant step in the development of the Lorena gold project and to have also achieved gold producer status for the first time... 

St Barbara takes a stake in Duketon

By: Esmarie Swanepoel     4th April 2018 Gold miner St Barbara has taken a 12.3% stake in fellow-listed Duketon Mining, spending A$4-million. St Barbara acquired 14.5-million shares in Duketon, at a price of 27.5c each, representing a 10% premium to the company’s 30-day volume weighted average price. 

Metals Focus sees gold climbing to $1 450/oz this year

By: Simone Liedtke     4th April 2018 Although facing a number of challenges, global market conditions are expected to become positive for gold this year, with the precious metal potentially testing  $1 450/oz before the end of 2018, consultancy Metals Focus says in its latest gold market report. The ‘Gold Focus 2018’ report, which... 

Metals Focus sees gold climbing to $1 450/oz this year

Nautilus receives further bridge loans as SPV launches in China

By: Henry Lazenby     4th April 2018 Seafloor mining pioneer Nautilus Minerals continues to secure bridge financing from Deep Sea Mining Finance, with the latest advance of $3-million bringing the loans to date to $9.65-million, the company said on Tuesday. The bridge loans are expected to form part of a larger secured structured... 

BlackRock's $1.3bn gold fund feels pain of bullion miners

By: Bloomberg     4th April 2018 This year has not been kind to precious-metal stock pickers at the world’s biggest asset manager, but their luck may be about to turn. The $1.3-billion BlackRock Gold and General Fund lost 15% last quarter, its worst performance since the third quarter of 2015. Among large materials-focused... 

High-grade, low-cost silver options set Americas Silver up for growth

By: Henry Lazenby     4th April 2018 Diversified miner Americas Silver is being cautious not to add too much silver to its zinc and lead production profile at a time when prices for the precious metal languish between the $16/oz to $20/oz level. “We are being very disciplined to not add too much new silver production to our... 

High-grade, low-cost silver options set Americas Silver up for growth
Photo by Americas Silver
Americas Silver's new San Rafael mine, in Mexico

SSC Flaming secures R190m IDC loan to revive Lily, Barbrook mines

By: Simone Liedtke     3rd April 2018 Empowerment company SSC Flaming Silver has received approval for a R190-million loan facility from the Industrial Development Corporation (IDC), which will assist it in restarting the Lily and Barbrook mines, in Barberton, Mpumalanga. The loan is subject to a number of conditions precedent and to... 

Intermittent industrial action affecting Randgold’s Tongon mine

By: Simone Liedtke     3rd April 2018 Intermittent industrial action by the workforce of gold mining company Randgold Resources’ mining subcontractor is negatively impacting on operations at its Côte d’lvoire-based Tongon gold mine. The company noted on Tuesday that the subcontractor has been negotiating with its workforce to achieve... 

Bluebird completes farm-in expenditure at Gubong

By: Creamer Media Reporter      3rd April 2018 Asia-focused Bluebird Merchant Ventures last week executed a formal joint venture (JV) agreement with Southern Gold for the Gubong mine, in South Korea. This follows the completion of the required farm-in expenditure of $500 000 at the mine. 

Carrapateena gets govt approvals

By: Esmarie Swanepoel     3rd April 2018 The A$916-million Carrapateena copper-gold project, in South Australia, has cleared its last approvals hurdle, with the South Australian and Commonwealth governments both granting approvals. ASX-listed Oz Minerals on Tuesday reported that mining lease has been granted by the South Australian... 

Pantoro clears debt

By: Esmarie Swanepoel     3rd April 2018 he share price of gold miner Pantoro rose by more than 5% on Tuesday after the company announced that it was debt free, following the final repayment to the Commonwealth Bank of Australia (CBA). The final payment under a gold pre-payment facility was due at the end of April, but the Pantoro... 

Mt Morgans pours first gold

By: Esmarie Swanepoel     3rd April 2018 ASX-listed junior Dacian Gold has poured its first gold at the Mt Morgans project, in Western Australia. The construction of the A$200-million gold mine was completed on time and within budget, Dacian executive chairperson and CEO Rohan Williams told shareholders on Tuesday. 

Westgold advances Murchison strategy

By: Esmarie Swanepoel     3rd April 2018 The Tuckabianna gold project, in Western Australia, has poured its first gold, ASX-listed Westgold Resources reported on Tuesday. “We are pleased to bring the Tuckabianna plant online within time and under our budget expectations. Tuckabianna is our third processing plant now operating in the... 

Sissingue reaches commercial production

By: Esmarie Swanepoel     3rd April 2018 ASX- and TSX-listed Perseus Mining has declared commercial production at its Sissingue gold mine, in Cote d’Ivoire. “Reaching commercial production at our Sissignue gold mine is a very important milestone for Perseus as we now have a second, high quality cash flow stream that materially reduces... 

Post-Mugabe Zimbabwe mining rush leaves big producers behind

By: Bloomberg     3rd April 2018 While Zimbabwe’s leadership change has sparked a race for the nation’s mineral riches among entrepreneurs and tiny explorers, big-name mining companies are taking a wait-and-see approach. New President Emmerson Mnangagwa has a lot to prove as he seeks to revive the economy and attract mining... 

Post-Mugabe Zimbabwe mining rush leaves big producers behind
Zimbabwe President Emmerson Mnangagwa

Gold heading to $1 400/oz as Sprott sees 'winnerless' trade war

By: Bloomberg     3rd April 2018 Gold will surge to the highest level in five years if a global trade war breaks out, according to Rick Rule, CEO of Sprott US Holdings, who’s been involved in the market for four decades. Bullion could top $1 400/oz in 2018 as escalating trade tensions drive investors to havens and the... 

Gold heading to $1 400/oz as Sprott sees 'winnerless' trade war

Nevsun's Timok UZ PFS elevates deposit among best anywhere

By: Henry Lazenby     3rd April 2018 A new prefeasibility study (PFS) on Canadian base metals producer Nevsun Resources’ Timok Upper Zone (UZ) copper/gold project, in Serbia, has confirmed the project as one of the best development-stage copper assets in the world, the company reports. Vancouver-headquartered Nevsun reported last... 

Gold forges best run since 2011 as stars align for bullion bulls

By: Bloomberg     30th March 2018 Gold bulls are finding 2018 offers plenty of reasons to be cheerful. Bullion’s wrapping up a third quarterly gain, a feat not seen since 2011, and exchange-traded fund holdings are near the highest in a half-decade. Haven demand may also get a boost with foreign-policy hawks in the ascendant in... 

Gold forges best run since 2011 as stars align for bullion bulls

Modular buildings supplier aims to expand its African footprint

By: Melissa Zisengwe     30th March 2018 The remote locations of African mine sites represent a significant business growth opportunity for prefabricated modular buildings supplier Kwikspace, says Kwikspace sales executive Roberto Campos. 

Modular buildings  supplier aims to expand  its African footprint
MINE-SITE OFFICES The South African mining sector has been Kwikspace’s biggest customer

Hydrocyclone improves recovery, optimises processing

By: Nadine James     30th March 2018 Depleting ore grades and rising energy costs are creating new challenges for minerals processing, in response, Metso introduced MHC Series Hydrocyclone. The solution, although officially launched in 2016, is currently being trialled at a copper porphyry mine in the US. Metso Africa and Middle... 

Massive housing project being developed on historical mining area near Joburg CBD

By: Dylan Slater     30th March 2018 An historical mining area, now known as Fleurhof, on the northern edge of the Witwatersrand basin in the central Rand Goldfield, immediately south-west of the City of Johannesburg (CoJ), is being transformed into a vast new housing development with the help of alternative mining solutions and... 

Massive housing project being developed on historical mining area near Joburg CBD

Iamgold unveils maiden resource estimate for Monster Lake

By: Henry Lazenby     29th March 2018 Midtier gold producer Iamgold has reported a maiden resource estimate on the Monster Lake joint-venture property located 50 km southwest of Chibougamau, in Quebec. The resource estimate comprises 1.11-million tonnes of inferred resources averaging 12.14 g/t gold for 433 300 oz of contained... 

Goldcorp makes 3 000 oz ‘genesis block’ deposit as first blockchain technology used to store hard assets

By: Henry Lazenby     29th March 2018 Major gold producer Goldcorp has made a 3 000 oz gold deposit into Tradewind Markets’ VaultChain platform, representing a significant milestone for blockchain technology to track and store hard assets. Goldcorp’s deposit reflects the ‘genesis block’ – the first block in a blockchain – and is the... 

Randgold’s dividend growth shows financial strength – CFO

By: Marleny Arnoldi     29th March 2018 Gold miner Randgold Resources is continuing to hunt for its next world-class gold deposit, through the expansion of exploration programmes in West- and Central Africa, as well as through the evaluation of its next potential mine project at Massawa, in Senegal.  

Randgold’s dividend growth shows financial strength – CFO

Mining industry submits mining code proposal to DRC govt

By: Marleny Arnoldi     29th March 2018 Mining industry representatives on Thursday submitted a formal proposal to the Democratic Republic of Congo (DRC) Ministry of Mines, aimed at addressing concerns about the country’s recently revised mining code and government’s revenue needs.  

Mining industry submits mining code proposal to DRC govt

Gold Fields buys stake in Asanko gold mine in Ghana

By: Simone Liedtke     29th March 2018 South African miner Gold Fields has teamed up with Canada-based Asanko Gold in Ghana, with the gold miners announcing on Thursday that the JSE-listed major would buy a 45% interest in the Asanko gold mine (AGM) for $185-million. The companies have agreed to form a 50:50 joint venture (JV), which... 

Gold Fields buys stake in Asanko gold mine in Ghana
Asanko gold mine

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