R/€ = 15.90 Change: -0.01
R/$ = 14.07 Change: 0.00
Au 1320.93 $/oz Change: 5.93
Pt 805.07 $/oz Change: 17.61

Gold News

DRDGold’s Q2 production down 5% q/q

By: Tasneem Bulbulia     1st February 2019 DRDGold’s production decreased by 5% quarter-on-quarter in the second quarter ended December 31, primarily as a result of an 8% drop in tonnage throughput. The lower throughput from Ergo Mining, a joint venture between DRDGold and Mintails, was mainly the result of power interruptions experienced... 

Polymetal to shun M&A in 2019, focus on asset sales

By: Reuters     1st February 2019 Russian gold and silver producer Polymetal said on Thursday it will focus on asset sales in 2019 rather than getting involved in industry consolidation. "The pressure from at least some of our shareholders has been to grow smaller or to grow more focused to reduce the number of assets in our... 

Pan African’s low-cost Elikhulu exceeding expectations

By: Nadine James     1st February 2019 Pan African Resources’ Elikhulu operation, in Evander, Mpumalanga is achieving a better-than-expected production performance, CEO Cobus Loots noted during an investor and media tour at the operation, on Thursday. As reported by Mining Weekly Online last month, the Elikhulu project, which started... 

Pan African’s low-cost Elikhulu exceeding expectations
Photo by Nadine James

Estrella eyes Munda restart

By: Esmarie Iannucci     1st February 2019 Junior Estrella Resources has launched a review to restart the Munda gold mine, in Western Australia. The project is estimated to host a Joint Ore Reserves Committee compliant resource of 511 000 t, grading 2.82 g/t gold for 46 337 oz of contained gold. 

Mozambique authorities focusing attention on rubies and gold

By: Rebecca Campbell     1st February 2019 The Economy and Environment Committee of the Mozambican Parliament announced in late January that it was to visit the country’s most north-easterly province, Cabo Delgado, to evaluate the socio-economic impact of the province’s mining operations on the adjacent local communities.  

Australia’s CSIRO investigating bioremediation of mine wastewater

By: Nadine James     1st February 2019 Scientists from the Australian research organisation Commonwealth Scientific and Industrial Research Organisation (CSIRO) are using microbes and other methods to remove valuable metals and contaminants from mine wastewater, the organisation announced last week. The technologies can process the... 

Australia’s CSIRO investigating bioremediation  of mine wastewater
Photo by Creamer Media
NEW SOLUTION Biological water treatments can be combined with other processes to deliver a more effective clean-up

Record output drives revenue at Russia's Polymetal up 11% in Q4

By: Reuters     31st January 2019 Russian gold and silver producer Polymetal reported on Thursday an 11% rise in fourth quarter revenue, compared to a year earlier, on record high production following a full ramp-up at its mine in Kazakhstan. The London-listed firm, part-owned by businessman Alexander Nesis, launched the Kyzyl... 

Amcu says Sibanye-Stillwater makes new attempt to halt strike

By: African News Agency      31st January 2019 Labour union Association of Mineworkers and Construction Union (Amcu) says mining firm Sibanye-Stillwater has filed another application to the labour court for an interdict preventing its members from continuing with a wage strike dating back to November. Sibanye-Stillwater has argued that Amcu... 

In Maduro's Venezuela, even counting gold bars is a challenge

By: Bloomberg     31st January 2019 Venezuela is home to rich gold deposits and holds billions of dollars of foreign reserves in gold bars in the central bank’s vaults. The question is, how much is there? The answer has taken on added significance as beleaguered President Nicolas Maduro faces increasing pressure to resign. Last... 

Iamgold updates increase resource in Mali

By: Creamer Media Reporter      31st January 2019 Canadian miner Iamgold has announced an updated mineral resource estimate on the Diakha-Siribaya gold project, in western Mali. The resource comprises 18-million tonnes of indicated resources averaging 1.28 g/t of gold, for 744 000 oz and a further 23.2-million tonnes of inferred resources,... 

Resolute adds more ounces to hedgebook

By: Esmarie Iannucci     31st January 2019 Gold miner Resolute Mining has forward sold a further 30 000 oz of gold at an average price of $1 335/oz, taking advantage of the recent strength in gold prices to extend its US-dollar denominated hedge position. The ASX-listed miner noted that the gold will be delivered on a monthly schedule... 

Doray on track to meet full year targets

By: Esmarie Iannucci     31st January 2019 Gold miner Doray Minerals is on track to reach its full year production guidance of between 80 000 oz and 85 000 oz of gold, with the company reporting a solid quarter of production during the three months to December. Gold production in the December quarter reached 18 944 oz, along with 660 t... 

Eldorado opts for heap leaching at Kisladag, shelves milling project

By: Mariaan Webb     31st January 2019 Canada-based Eldorado Gold will resume mining and heap leaching at the Kisladag mine, in Turkey, putting on hold a previously announced mill project. The decision to resume mining and heap leaching follows improved heap leach recoveries and a revised heap leaching plan that was developed early... 

Eldorado opts for heap leaching at Kisladag, shelves milling project
Eldorado's Kisladag mine, in Turkey

Strong investment case for gold in 2019 – World Gold Council

By: Marleny Arnoldi     31st January 2019 Global gold demand in 2018 increased by 4% year-on-year to 4 345 t and was in line with the five-year average demand of 4 347 t. The World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’ report, published on Thursday, said the increase was driven by a 52-year high in central bank buying and... 

Strong investment case for gold in 2019 – World Gold Council

Gold gets a safe-haven boost – Refinitiv’s GFMS report 

By: Nadine James     30th January 2019 Gold has benefitted in the fourth quarter of 2018 from investors seeking safe-havens, the latest GFMS Gold Survey, which Refinitiv released on Wednesday, states. Renewed interest from professional investors and a shift in the purchasing behaviour of emerging market central banks have compensated... 

South Africa's largest labour union plans nationwide strike over mass layoffs  

By: Reuters     30th January 2019 South Africa's largest labour union group, with more than a million and a half members, said on Wednesday it would stage a nationwide strike on Feb. 13 over large-scale layoffs at ailing state-owned firms and at private companies. The decision by the Congress of South African Trade Unions... 

Minerals Council's Langenhoven warns of tipping point for mining if electricity tariffs increase by 15% a year  

By: Nadine James     30th January 2019 State-owned utility Eskom’s proposed tariff increases would cost some 150 000 direct mining jobs, all but eliminate the gold sector and, as a consequence, reduce Eskom’s mining client base by around 36%, thereby exacerbating the utility’s “death spiral”, Minerals Council South Africa chief... 

Minerals Council's Langenhoven warns of tipping point for mining if electricity tariffs increase by 15% a year
Minerals Council South Africa chief economist Henk Langenhoven discusses the impact of Eskom’s proposed tariff increases on South Africa's mining sector. Video and editing: Darlene Creamer.

Kapan boosts Chaarat’s forecast output to 65Moz

By: Creamer Media Reporter      30th January 2019 London-listed Chaarat has completed the $55-million acquisition of Kapan Mining and Processing from fellow-listed Polymetal International. Of the total consideration of $55-million, $10-million was settled on completion in convertible loan notes and $5-million was paid as a deposit in November.... 

Emerald makes inroads into Okvau development

By: Esmarie Iannucci     30th January 2019 Gold developer Emerald Resources has signed a memorandum of understanding (MoU) with fellow-listed MACA to supply equipment and contract mining services for the Okvau gold project, in Cambodia. The MoU was subject to a final investment decision to develop the project, but the scope of work under... 

Wa reserves top 1Moz

By: Esmarie Iannucci     30th January 2019 ASX-listed Azumah Resources has reported a 65% increase in the ore reserve at its Wa gold project, in Ghana, taking the reserve estimate to more than one-million ounces. “The Wa gold project is now transformed into an extremely compelling development opportunity, without even considering the... 

Newcrest reaches new heights at Cadia

By: Esmarie Iannucci     30th January 2019 Gold miner Newcrest Mining has reported a 19% increase in gold production for the quarter ended December, while all-in sustaining costs (AISC) for the quarter fell by A$58/oz. “Record production at Cadia and another sound performance from Lihir underpinned a strong start to the financial year,... 

Newcrest reaches new heights at Cadia

AngloGold soil study in Colombia halted pending review after mining ban

By: Reuters     30th January 2019 Miner AngloGold Ashanti said on Tuesday it has halted a soil study at a site in Colombia after the town's mayor issued a suspension order because of a recent mining ban. Work at the site in Jerico, Antioquia province, was stopped on Monday and the project will remain halted pending a review by... 

Xtract Resources reports ‘modest’ December quarter output

By: Tasneem Bulbulia     29th January 2019 Xtract Resources on Tuesday reported alluvial mining contractors operating at its Manica project, in Mozambique, had produced about  1 328 oz of gold in the quarter ended December 31. Xtract continues to review the alluvial operations and introduce more equipment. 

Cryptocurrencies are not a safe-haven, says World Gold Council

By: Simone Liedtke     29th January 2019 While cryptocurrencies may have a role to play in financial markets, the World Gold Council (WGC) believes their “behaviour” in an environment of market uncertainty underscores that cryptocurrencies are “not a viable substitute for gold as a safe-haven”. During the fourth quarter of 2018,... 

Kibali achieves success across the board; above production guidance

By: Tasneem Bulbulia     29th January 2019 The Kibali gold mine, in the Democratic Republic of Congo (DRC), produced 807 251 oz of gold in 2018, above its target of 750 000 oz and 35% higher than its output in the previous year. This was achieved on the back of the successful ramp-up in underground production and a steady improvement in... 

Palladium theft rampant – FT 

By: Martin Creamer     29th January 2019 Palladium, used in catalytic converters that reduce harmful petrol vehicle emissions, is catalysing a crime wave in the UK, says the Financial Times (FT) of London. “Thieves are stealing catalytic converters – often in broad daylight – and selling the devices to illegal scrap dealers for cash,”... 

Palladium theft rampant – FT
Photo by Bloomberg
A bar of palladium.

Newcrest partners with Mirasol in Chile

By: Tasneem Bulbulia     29th January 2019 Vancouver-headquartered project generator Mirasol Resources has signed a binding letter agreement with Newcrest International, a wholly owned subsidiary of Newcrest Mining, for an option to farm-in on the Gorbea high-sulphidation epithermal (HSE) gold projects in Chile. “Newcrest is the ideal... 

Magino project EA approved

By: Tasneem Bulbulia     29th January 2019 TSX-listed Argonaut Gold has received a positive decision statement for the environmental assessment (EA) under the Canadian Environmental Assessment Act, 2012 for its 100%-owned Magino project in Ontario, from Environment and Climate Change Minister Catherine McKenna. The decision follows an EA... 

Shareholder props up cash-strapped Crusader

By: Creamer Media Reporter      29th January 2019 Dual-listed Crusader Resources on Tuesday announced that shareholder Stephen Copulos had agreed to subscribe for an additional A$1-million worth of convertible notes to assist with the Brazil-focused junior’s immediate funding requirements. Crusader had until the end of this month to raise... 

Gruyere construction nearing completion

By: Esmarie Iannucci     29th January 2019 First ore has been mined at the Gruyere joint venture (JV), in Western Australia, as part of the mining production ramp-up, which will see first gold production during the June quarter of this year. JV partners Gold Road Resources and GoldFields on Tuesday reported that construction of the... 

West Kytlim mining contract agreed for 2019 season

By: Tasneem Bulbulia     28th January 2019 London-listed precious metals producer Eurasia Mining on Monday announced that it had hired Uralmetmash, formerly Techstroy, for the 2019 mining season at the West Kytlim platinum, palladium, rhodium, iridium and gold mine, in Russia. Techstroy was the contractor employed at the West Kytlim mine... 

Iamgold defers construction of Canada mine

By: Creamer Media Reporter      28th January 2019 Canada-based Iamgold will not proceed with the construction of the Côté gold project, in Ontario, and is waiting for improved market conditions before it will pull the trigger on the $1.15-billion investment. Announcing its decision on Monday, CEO Steve Letwin said that the company had it had... 

TomaGold creates spin-out for Monster Lake and other projects

By: Tasneem Bulbulia     28th January 2019 Minerals explorer TomaGold’s board of directors has approved, in principle, a strategic reorganisation of the corporation’s assets, which will involve the spinning out of some assets into a new entity. TomaGold plans to spin out its interests in the Monster Lake and Irene Lake exploration... 

Independence Gold to focus on 3Ts project in 2019

By: Simone Liedtke     28th January 2019 TSX-V-listed Independence Gold will intensify its focus on its 3Ts project, located about 185 km southwest of Prince George, in British Columbia, during 2019, with a comprehensive data review planned ahead of executing a field programme later this year. The 3Ts project is an epithermal... 

Premier signs financing agreements for $68m

By: Tasneem Bulbulia     25th January 2019 Canadian precious metals miner Premier Gold Mines has signed a definitive credit agreement with Investec Bank, as administrative agent for the lenders for a $50-million secured revolving term credit facility, the company announced on Friday. Premier also announced financing arrangements with OMF... 

Tulu Kapi development gaining traction

By: Tasneem Bulbulia     25th January 2019 Aim-listed Kefi Minerals’ Ethiopian private sector project partner ANS Mining has increased its investment commitment to subscribe for new shares in project company Tulu Kapi Gold Mines (TKGM) to the Birr equivalent of $38-million, compared with the previously planned commitment of $30-million.... 

Pan African’s newly commissioned tailings plant boosts H1 gold output  

By: Marleny Arnoldi     25th January 2019 JSE- and Aim-listed Pan African Resources’ production for the six months ended December 31, 2018, increased by 54.2% year-on-year to 81 014 oz on the back of a robust operational performance at the Barberton complex and from its newly commissioned tailings retreatment plant. Gold production... 

Barrick’s Tongon mine meets production guidance despite strikes in 2018

By: Marleny Arnoldi     25th January 2019 NYSE- and TSX-listed Barrick Gold managed to return its Tongon mine, in Côte d'lvoire, to normal operation in the last quarter of 2018 and achieve its revised production target of 230 000 oz. This followed nine months of intermittent production at the mine, caused by illegal strikes and social... 

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