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Gold News

High Court sets out process to action against silicosis, TB settlement agreement  

By: Marleny Arnoldi     13th December 2018 The Johannesburg High Court on Thursday issued a court order setting out the processes in terms of which members of the settling classes and any interested parties should be invited to show cause why the silicosis and tuberculosis class action settlement agreement should not be made an order of... 

Gold supply to increase 2.2% for 2018 – Refinitiv

By: Marleny Arnoldi     13th December 2018 Total gold supply is set to increase by 2.2% year-on-year this year, led by mine production, says the GFMS team at Refinitiv. Refinitiv predicts this year will finish as another year of net de-hedging, albeit at a forecast 29 t, which will be 29% lower than in 2017.  

AMCU accuses Sibanye of using 'underhand tactics' to end strike 

By: African News Agency      13th December 2018 The Association of Mineworkers and Construction Union (AMCU) has retaliated against Sibanye-Stillwater, saying that the miner had resorted to further "underhanded tactics" in an effort to discredit the legal and protected status of its strike in the gold sector.  This is after Sibanye said on... 

Hummingbird anticipates up to 16 g/t gold grade potential at Mali project

By: Marleny Arnoldi     13th December 2018 Aim-listed Hummingbird Resources has announced the second set of drill results from the 2018 exploration campaign at its Yanfolila gold mine, in Mali, which further confirms high-grade gold mineralisation potential. The focus of the drill programme is to convert resources to reserves and extend... 

Sibanye extends union wage agreements to all employees, ends AMCU strike 

By: Marleny Arnoldi     13th December 2018 JSE-listed Sibanye-Stillwater has extended the wage agreement entered into with some unions to all employees, effectively rendering the three-week-long strike by Association of Mineworkers and Construction Union (AMCU) members unprotected. During the course of the strike, which was called by... 

Sibanye extends union wage agreements to all employees, ends AMCU strike

Iamgold tables maiden resource for Gossey deposit

By: Tasneem Bulbulia     13th December 2018 Canada-based gold major Iamgold has announced an initial mineral resource estimate for the Gossey satellite deposit, located about 15 km north-west of its Essakane operation in Burkina Faso. The resource estimate comprises 10.5-million tonnes of indicated resources averaging 0.87 g/t of gold for... 

Gold Fields to restart South Deep production as workers return

By: Reuters     13th December 2018 Workers will return to Gold Fields' sole South African mine on Thursday after a six-week strike was called off by the country's National Union of Mineworkers (NUM), with production likely to resume in earnest next year. Workers from the largest union operating at the South Deep mine downed tools... 

ATAC shares fall as Barrick terminates Yukon earn-in

By: Creamer Media Reporter      13th December 2018 Nearly two years since Barrick Gold partnered with junior ATAC Resources to advance the part of the Racklan gold property in the Yukon Territory of north-west Canada, the gold major has terminated its option to acquire an interest in the Orion project. ATAC president and CEO Graham Downs thanked... 

Ramelius sweetens Explauraum deal

By: Esmarie Iannucci     13th December 2018 Gold miner Ramelius Resources has increased its offer for fellow-listed Explaurum, by 2c a share in cash. Ramelius is now offering Explaurum shareholders one of its own shares for every four Explaurum shares held, as well as 2c a share in cash for every Explaurum share held. 

Capricorn secures funding for Karlawinda development

By: Esmarie Iannucci     13th December 2018 Metals developer Capricorn Metals has secured a A$107-million funding package to develop its Karlawinda gold project, in Western Australia. The project finance facility, secured from Macquarie Bank, include a senior project finance facility of A$81-million, a bank guarantee facility of... 

Matsa acquires more ground around Red October

By: Esmarie Iannucci     13th December 2018 ASX-listed Matsa Resources has struck a deal with fellow listed GME Resources to acquire the Devon gold mine, in Western Australia, for A$100 000. Under the terms of the agreement, Matsa will pay GME A$50 000 in cash, with the balance of the payment to be made in either cash or Matsa shares. 

Pure Alumina extends gold sale process

By: Esmarie Iannucci     13th December 2018 Junior Pure Alumina has extended the sales process for its Hill End gold assets, which were put up for sale earlier this year, to allow bidders to secure funding. The company in June this year announced its decision to test the market for its gold assets, choosing to focus its attention on its... 

Barrick Gold is said to move closer to resolving Acacia dispute

By: Bloomberg     13th December 2018 Barrick Gold Corp has reached an agreement with the Tanzanian government on a $300-million payment, a milestone toward resolving a dispute that has crippled the miner’s subsidiary in the African country, according to people familiar with the situation. Executives from the Toronto-based producer... 

Barrick Gold is said to move closer to resolving Acacia dispute

Gold production resumes at Randgold's Loulo mine in Mali

By: Reuters     12th December 2018 Production at Randgold's Loulo gold mine in Mali resumed on Wednesday after a week-long outage over a pay dispute, the head of the union said, warning of possible further industrial action. The head of the industry and mines union SECNAMI, Bani Sacko, told Reuters workers had returned to work... 

Ariana to start drilling Kizilcukur

By: Creamer Media Reporter      12th December 2018 Turkey-focused Ariana Resources will start a 1 000 m diamond drilling programme at its Kizilcukur gold project, which is being developed with a view to truck and process its ore at the nearby Kiziltepe mine. The objective of the diamond drilling is to define a high-grade zone amenable to openpit... 

Almaden expects 203 000 oz/y from Mexico precious metals project

By: Creamer Media Reporter      12th December 2018 The Ixtaca precious metals deposit, Mexico, has the potential to produce 203 000 oz/y of gold-equivalent in the first six years of operation, a feasibility study has confirmed. The production is comprised of 108 500 oz/y of gold and 7.06-million ounces a year of silver, said project owner... 

Enable meaningful participation, pleads Women in Mining chair  

By: Martin Creamer     12th December 2018 The Mining Charter has significant room for improvement to enable meaningful participation of women in mining, says Women in Mining South Africa (WiMSA) chairperson Lindiwe Nakedi. Soweto-born Nakedi, who owns Gubhani Exploration – a surface exploration drilling company that is currently the only... 

Enable meaningful participation, pleads Women in Mining chair
Women in Mining chairperson and Gubhani Exploration MD Lindiwe Nakedi talks to Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Photographs: Creamer Media Chief Photographer Dylan Slater.

Ontario’s Harte to declare commercial production by year-end

By: Creamer Media Reporter      12th December 2018 The Harte gold mine – Ontario’s first new gold mine in a decade – is on track to achieve commercial production by the end of the year. Toronto- and Frankfurt-listed Harte Gold said on Tuesday that the Sugar Zone mill complex was achieving consistent throughput of 575 t/d. More than 24 000 t of... 

Kirkland Lake's 1Moz/y target now in sight

By: Mariaan Webb     12th December 2018 Australia- and Canada-focused gold miner Kirkland Lake is set to hit the one-million-ounce mark by 2021, the company said this week, announcing its three-year production guidance. The miner is targeting consolidated production growth of 10% to 15% a year over the next three years, with... 

Kirkland Lake's 1Moz/y target now in sight
The Fosterville mine, in Australia.

Titan readies for Vista commissioning

By: Esmarie Iannucci     12th December 2018 ASX-listed Titan Minerals has completed the construction of its plant and mill at its Vista gold project, in Southern Peru, on schedule and budget. The company is currently receiving ore at the plant to establish stockpiles for initial testing and dry commissioning of the plant over the coming... 

Indonesian investor secured for Awak Mas

By: Esmarie Iannucci     12th December 2018 The Awak Mas gold project, in Indonesia, is one step closer to development after owner Nusantara Resources secured a local cornerstone investor. ASX-listed Nusantara told shareholders that on completion of a A$10.25-million capital raising, integrated energy and resources company PT Indika... 

Indonesian investor secured for Awak Mas

Crater eyes A$23m raising

By: Esmarie Iannucci     12th December 2018 ASX-listed junior Crater Gold Mining was hoping tor raise some A$23-million through an 11-for-2 renounceable rights issue, priced at 1.5c a share. Crater on Wednesday said that the issue price of 1.5c a share represented a discount of some 25% to the last closing price on December 11, and a... 

Sibanye condemns violent protest at its South African gold mines 

By: Simone Liedtke     11th December 2018 Dual-listed Sibanye-Stillwater on Tuesday said the situation at its Beatrix gold operations, in the Free State, were tense amid continuing violent actions by groups allegedly affiliated to the Association of Mineworkers and Construction Union (AMCU). “In the early hours of December 11, various... 

Newcrest moves on two Chile gold projects

By: Mariaan Webb     11th December 2018 Australia-based gold major Newcrest Mining has expressed an interest in farming into the Gorbea projects, in Chile, which fellow major Yamana Gold previously explored in a joint venture with Mirasol Mining. Newcrest, which is already participating in other JVs with Mirasol, has signed a heads of... 

Alacer gains nearly 300 000 oz from Ardich

By: Esmarie Iannucci     11th December 2018 Gold miner Alacer Gold has reported a maiden mineral resource of 294 000 oz of gold at an average grade of 1.32 g/t gold for its Ardich oxide gold deposit, some 6km from its Çöpler gold mine. The project also hosts an inferred mineral resource of 85 000 oz, at an average grade of 1.2 g/t gold. 

Qld extends backing for Ravenswood expansion

By: Esmarie Iannucci     11th December 2018 The Queensland government has extended the Prescribed Project status of ASX-listed Resolute Mining’s Ravenswood expansion project until the end of November 2020. The Prescribed Project declaration is designed to facilitate the approvals process for projects deemed to be of particular economic... 

Aussie gold juniors announce merger

By: Esmarie Iannucci     11th December 2018 ASX-listed juniors Intermin Resources and MacPhersons Resources have struck a merger agreement to create a gold company holding some 1.15-million ounces of gold. Under the terms of a scheme of arrangement, one Intermin share will be issued for every 1.8227 MacPhersons shares held, valuing the... 

Lydian turns to court to lift environmental order

By: Creamer Media Reporter      11th December 2018 The Administrative Court of Armenia has accepted Lydian International’s lawsuit appealing a directive by the head of the Environmental and Mining Inspection Body, which ordered a stop to mining-related activities at the Amulsar project, owing to sightings of newly-found red-listed plants and... 

Lydian turns to court to lift environmental order
The Amulsar site, in Armenia.

Yet another invasion at Aura's Honduras mine

By: Mariaan Webb     11th December 2018 Midtier gold and copper miner Aura Minerals has suspended mining operations at its San Andres mine, in Honduras, following another illegal invasion by a number of individuals. The illegal occupation follows a similar event earlier this year, which in July led to the company laying off 44... 

Five positions eliminated in New Gold management shakeup

By: Mariaan Webb     11th December 2018 Canada-focused New Gold eliminated five senior management positions in a reorganisation aimed at better aligning its corporate structure with a smaller asset base, following the divestment of the Mesquite and Peak mine earlier this year. The restructuring eliminated the positions of VP,... 

Detour delays shareholders meeting as initial results show Paulson controls board

By: Mariaan Webb     10th December 2018 Detour Gold – the operator of Canada’s largest gold mine – has postponed its planned special shareholders meeting by two days, after initial results suggest that a bloc of shareholders has sided with Paulson & Co and that the US hedge fund manager will take control of the board. The special... 

Detour delays shareholders meeting as initial results show Paulson controls board
Detour board member Jim Gowans

Côte d'Ivoire aims to double gold output by 2025

By: Reuters     10th December 2018 Côte d'Ivoire plans to double gold production by 2025, its vice president said on Monday, as the west African country strives to revive its long-neglected mining sector. Côte d'Ivoire, the world's top cocoa producer, is seeking to diversify revenues by increasing gold output from 25 t last year... 

Frieda River requires $739m govt infrastructure investment

By: Esmarie Iannucci     10th December 2018 A new feasibility study into the Frieda River copper/gold project, in Papua New Guinea, has found that a government investment of some $739-million into infrastructure would be required to make the project feasible. The new feasibility study, conducted by PanAust, adopted a fundamentally... 

Frieda River requires $739m govt infrastructure investment

Southern Gold goes at it alone at Cannon underground

By: Esmarie Iannucci     10th December 2018 ASX-listed Southern Gold is hoping to fast track the development of the Cannon gold mine, in Western Australia, in 2019 after striking a deal with fellow-listed Northern Star Resources. Northern Star in March this year acquired the South Kalgoorlie operations from Westgold Resources, which... 

Mt Morgans on track for commercial production by 2019

By: Esmarie Iannucci     10th December 2018 Gold developer Dacian Gold was on track for commercial production at its Mt Morgans operation, in Western Australia, before the end of the year. Dacian on Monday reported that ore development at the Allanson underground production decline has now started, while mining activities at the Beresford... 

Barrick’s Michael Brown retires ahead of Randgold merger 

By: Mariaan Webb     10th December 2018 Gold major Barrick Gold has announced management changes in its North American region ahead of the completion of its merger with Africa-focused Randgold Resources on January 1. CFO Catherine Raw will assume responsibility for the enlarged group’s US operations the newly created position of COO... 

South African gold industry enters final phase of slow death   

By: Bloomberg     10th December 2018 Back in 1987, South African President Cyril Ramaphosa – then a 34-year-old labor union leader – led 300 000 black miners in a strike that symbolized resistance to the apartheid regime. Now, striking gold workers face a less politically charged battle, but one they can’t win. The nation’s... 

South African gold industry enters final phase of slow death

Condor Gold share price jumps on concession

By: Creamer Media Reporter      7th December 2018 Nicaragua’s Ministry of Energy and Mines has granted the explorer and developer Condor Gold the Las Cruces concession, expanding the La India project package by 45% to 455.6 km2. The La India project now comprises 11 adjacent and contiguous exploration and exploitation concessions, which Aim-... 

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