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Gold News

Gold miner Avocet to sell Burkina Faso assets

By: Reuters     18th December 2017 Struggling miner Avocet Mining Plc said it would sell its assets in Burkina Faso for $5 million to Ghana-based Balaji Group, staving off potential a bankruptcy for its units in the West African country. The sale, which includes the Inata gold mine and the Souma exploration project, is part of a... 

Ortac Resources initiates more work programmes at DRC project

By: Megan van Wyngaardt     15th December 2017 Aim-listed Ortac Resources’ subsidiary Casa Mining will start additional work programmes at its Akyanga licence area, in the Democratic Republic of Congo, to incorporate parallel extensions to project, as part of the existing drill programme. This follows the completion of a review of previous... 

Hummingbird starts Yanfolila ore commissioning

By: Natasha Odendaal     15th December 2017 Aim-listed Hummingbird Resources expects first gold production from its Yanfolila mine, in Mali, before the end of December as ore commissioning gets under way. “Ore commissioning represents the final step ahead of first gold production at Yanfolila. Everybody on site is totally focused on a... 

Ark Mines to establish gold processing plant early next year

By: Megan van Wyngaardt     15th December 2017 ASX-listed Ark Mines is on track to complete its Union extended (UE) mining management plan (MMP) for the establishment and operation of a carbon-in-leach (CIL) gold processing plant in the Northern Territory by early 2018. Desktop hydrogeological studies and terrestrial ecology desktop studies... 

Gascoyne clinches hedging deal with Australian banks

By: Megan van Wyngaardt     15th December 2017 Gascoyne Resources has entered into flat forward gold sales contracts with Commonwealth Bank of Australia (CBA) and the National Australia Bank (NAB) for 164 000 oz of gold production from its 100%-owned Dalgaranga gold project, at a delivery price of $1 712/oz. The banks are also providing a... 

Macmahon executes Mt Morgans contract

By: Creamer Media Reporter      15th December 2017 Contract miner Macmahon on Friday confirmed that it had executed the final mining contract for the Mt Morgans gold mine project, near Laverton, Western Australia. The company was awarded the contract for an openpit mine from ASX-listed Dacian Gold, which is bringing Australia’s biggest gold mine... 

BC govt refuses KGHM’s Ajax environmental permit

By: Henry Lazenby     15th December 2017 The British Columbia provincial government on Thursday refused to issue Polish base metals miner KGHM Polska Miedź’s Ajax copper/gold mine a provincial environmental certificate, saying the adverse effects of the project outweigh the potential benefits. The news is a blow to the nearby City of... 

BC govt refuses KGHM’s Ajax environmental permit

Company moves forward with tailings retreatment project

By: Marleny Arnoldi     15th December 2017 Aim-listed Goldplat PLC’s recovery operation in South Africa, Goldplat Recovery, will be investing in a tailings retreatment project during 2018, as its growth over the past decade has resulted in the operation accumulating a large tailings stock dam.  

Company moves  forward with tailings retreatment project
SOPHISTICATED CIRCUIT Goldplat Recovery’s extraction processes and multiple process lines enable it to keep materials separate, which provides a high degree of flexibility when proposing a solution for a particular type of material

Activated carbon producer to aid tailings processing

By: Marleny Arnoldi     15th December 2017 Activated carbon manufacturer Rotocarb offers tailings retreatment plants in the mining industry a solution for their water-intensive processing and wastewater treatment operations that uses local raw material, technology and deployment to produce activated carbon, which is critical in the... 

Activated carbon producer to aid tailings processing
WATER TREATMENT SOLUTION There is a big requirement for activated carbon, which local manufacturer Rotocarb can provide a solution for with locally designed technology and locally sourced raw materials

Small- and medium-scale operations punted as ‘the future’ of mining

By: Mia Breytenbach     15th December 2017 With industrial mining on the decline, smaller- to medium-scale mining operations are the future, according to Bench Marks Foundation South Africa lead researcher David van Wyk. Addressing delegates at the Science Business Society Dialogue Conference on Linking Science, Society, Business and... 

Small- and medium-scale operations punted as  ‘the future’ of mining
CLUSTERED AND FORMALISED Small operations could be clustered together geographically and assigned an engineer, a geologist and a health and safety officer to ensure safe operations

BME’s West African footprint expands as it clinches Mali blasting service contract

By: Mia Breytenbach     15th December 2017 West Africa remains an exciting region for South Africa-based explosives and blasting leader BME, which has won a full blasting service contract for a new opencast gold mining operation that is set to become the largest producer in Mali. From 2006 to 2015, 18 mines were opened in the region,... 

BME’s West African footprint expands  as it clinches Mali blasting service contract
SERVICE OFFERING BME will carry out ore blasting using its BME’s Axxis electronic detonation system and will deploy four 20 t emulsion trucks, as well as a stemming truck

Mines urged to leverage technology to supercharge human capital development

By: Nadine James     15th December 2017 Mining companies should leverage technology to spur employee development, aiding in the upskilling of staff while enhancing employee and resource management, says information technology services company Wipro Southern Africa. While mines have incrementally implemented technology into their... 

State of local mining regulations shun investment, says CoM report 

By: Dylan Slater     14th December 2017 The findings of a recently conducted Chamber of Mines (CoM) survey indicate that if South Africa’s mining industry shifts its focus to create an attractive policy, regulatory and governance environment – through ethical leadership, good governance and the adoption of competitive, stable and... 

Dalradian drilling shows potential for mechanised mining at Curraghinalt

By: Megan van Wyngaardt     14th December 2017 Drilling results from an ongoing programme at dual-listed Dalradian Resources’ Curraghinalt gold deposit in Northern Ireland, have highlighted numerous areas within the deposit that could be converted to lower-cost mechanised mining. “The rock strength is much better than originally modelled,”... 

Sibanye-Stillwater to acquire embattled Lonmin, completes PGMs strategy

By: Mia Breytenbach     14th December 2017 Precious metals mining company Sibanye-Stillwater has made an all-share offer to acquire platinum group metals (PGMs) producer Lonmin. The offer values Lonmin at about £285-million, or R5.15-billion. 

Sibanye-Stillwater to acquire embattled Lonmin, completes PGMs strategy
Photo by Duane Daws
Sibanye-Stillwater CEO Neal Froneman and Lonmin CEO Ben Magara

Conglomerate-gold hopeful Novo granted tenements for Comet Well

By: Mariaan Webb     14th December 2017 TSX-V-listed Novo Resources has been granted tenements at the conglomerate-hosted gold discovery Comet Well, south of Karratha, Western Australia. The granting of the tenements by the Department of Mines, Industry Regulations and Safety entitles Novo to start exploration aimed at satisfying... 

Electronic waste at new high, squandering gold, other metals – study

By: Reuters     14th December 2017 Electronic waste rose to a record 45-million tonnes worldwide in 2016, squandering valuable metals such as gold and copper since few trashed televisions, cellphones or other products get recycled, a UN-backed study showed on Wednesday. Rising incomes and falling prices for everything from solar... 

Fed spells relief for gold traders worried over rate-hike pace

By: Bloomberg     14th December 2017 Spot gold headed for the biggest gain in three weeks after Federal Reserve officials stuck with a projection for three interest-rate increases in the coming year, easing concerns that quickening economic growth would spur an even faster pace of monetary tightening. By a 7-2 vote, the Fed on... 

Mining operations start at Tyranna’s Eureka mine

By: Creamer Media Reporter      14th December 2017 The Eureka gold mine, north of Kalgoorlie, Western Australia, has transitioned from development to mining operations, ASX-listed Tyranna Resources reported on Thursday. The mine, which Tyranna is acquiring from Canada-listed Central Iron Ore, is currently being mined by a local contractor, Eureka... 

Lithium powers Deloitte WA Index

By: Creamer Media Reporter      14th December 2017 The market capitalisation of Western Australia-listed companies increased by 3.3% to A$173.1-billion in November, driven by greater interest in the battery technology space and progress of a number of lithium explorers towards production. “We have seen a number of potential customers come out of... 

Ortac increases stake in Casa to 84.7%

By: Megan van Wyngaardt     13th December 2017 Aim-listed Ortac Resources has increased its interest in African gold developer Casa Mining from 45% to 84.7%. The company in November offered to acquire 100% of Casa through the issue of 100-million new ordinary shares. 

Highland board adopts dividend policy

By: Mariaan Webb     13th December 2017 The board of Aim-listed Highland Gold on Wednesday announced its dividend policy, which states that its total payout for each financial year will be 20% of net cash flow from operating activities. The board may also recommend the distribution of additional cash on the balance sheet through... 

Gascoyne executes Dalgaranga mining contract

By: Creamer Media Reporter      13th December 2017 ASX-listed Gascoyne Resources has executed a contract to appoint NRW Holdings as the mining contractor at its Dalgaranga gold project, which will start operations in the second quarter of next year. The a$300-million contract is for openpit mining services, as well as drill and blast operations... 

Newcrest sells Bonikro gold mine for $81m

By: Mariaan Webb     13th December 2017 Australian gold major Newcrest has agreed to sell its 89.89% interest in the Bonikro gold mine, in Côte d'Ivoire, for $81-million, the company announced on Wednesday. A consortium comprising Forbes & Manhattan Group and the Africa Finance Corporation has picked up the asset, which produced 128... 

Newcrest sells Bonikro gold mine for $81m

Newmont CEO Goldberg inducted into American Mining Hall of Fame

By: Henry Lazenby     12th December 2017 The American Mining Hall of Fame has inducted US-based gold producer Newmont Mining’s president and CEO Gary Goldberg into its illustrious ranks. Goldberg has been honoured by his peers for outstanding contributions to the mining industry and the award honours his accomplishments over the course... 

Lupaka upgrades Invicta road as a critical step towards imminent production

By: Henry Lazenby     12th December 2017 Peru-focused gold explorer and project developer Lupaka Gold has appointed a contractor to expand, enhance, and modify 27 km of road starting from the paved Huacho-Churin-Oyon highway, located at about 1 500 m above sea level, up to the Invicta project, located at about 3 500 m above sea level.... 

Gold Fields Ghana to dismiss 1 500 staff as contractor hired

By: Bloomberg     12th December 2017 Gold Fields’ unit in Ghana said it will dismiss 1 500 of its own staff as the company is hiring a contractor to operate its biggest mine in the West African nation. A contractor will take charge of the Tarkwa operations from early 2018 as the deposit’s remaining life span is too short to replace... 

Gascoyne buys gold tenement north-west of Dalgaranga

By: Megan van Wyngaardt     12th December 2017 Gascoyne Resources has acquired a 100% interest in exploration licence E53/2053, near its Dalgaranga gold project, in the Murchison gold mining region of Western Australia. The tenement, which is considered to be highly prospective for gold and base metal mineralisation, was purchased for $100... 

Avesoro set to acquire $17.1m in heavy mining equipment

By: Natasha Odendaal     12th December 2017 TSX- and Aim-listed Avesoro Resources’ Bea Mountain Mining subsidiary has entered into finance agreements to acquire $17.1-million in heavy mining and additional auxiliary equipment for New Liberty gold mine, in Liberia. The equipment finance facility agreements with Mapa İnşaat ve Ticaret AŞ... 

Gold inches up from near 5-month low ahead of Fed meeting

By: Reuters     12th December 2017 Gold was slightly higher on Tuesday, just up from its lowest in nearly five months in the previous session, and ahead of the start of a two-day US Federal Reserve meeting. Spot gold rose 0.2% to $1 244.30 an ounce by 03:50 GMT, after hitting its lowest since July 20 at $1240.10 on Monday. 

Silicosis: we’re close to a deal with the mines, says miners’ attorney

By: News24Wire      12th December 2017 A settlement between thousands of sick gold miners and the mining industry is possible before the end of the year, according to one of the attorneys for the sick mineworkers. More than 100 000 mineworkers and former mineworkers, and their dependants, are claiming damages for contracting silicosis... 

Congo mines say revised code threatens industry's future

By: Reuters     12th December 2017 Mining companies in Democratic Republic of Congo said on Monday that proposed changes to the mining code adopted by the lower house of parliament last week would do lasting damage to investment in Africa's top copper producer. The process of revising the 2002 mining code in Congo has dragged on... 

Kirkland Lake disposes of Australian Stawell assets

By: Henry Lazenby     11th December 2017 Triple-listed Kirkland Lake Gold has agreed to sell affiliate Stawell Gold Mines to private firm Arete Capital Partners. Stawell Gold Mines, which holds the Stawell gold mine, located in Victoria, Australia, will pay $6.25-million in cash for the assets, with Kirkland set to retain a 2.5% net... 

Rusoro wins $1.3bn judgment against Venezuela

By: Henry Lazenby     11th December 2017 Mining junior Rusoro Mining last week won a major victory in its international arbitration complaint against Venezuela, when the Superior Court of Justice in Ontario issued a default judgment owing to Venezuela’s failure to appear. TSX-V-listed Rusoro advised that the judgment was for more than... 

Crucial for commodity countries to build economic resilience – Unctad 

By: Martin Creamer     11th December 2017 Without policy change, commodity-dependent developing countries risk falling short of achieving their sustainable development goals (SDGs) by 2030, United Nations Conference on Trade and Development (Unctad) economic affairs officer Stefan Csordas warned on Monday. Unctad and the Food and... 

Crucial for commodity countries to build economic resilience – Unctad
Unctad’s Stefan Csordas discusses commodities report with Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Video Editing: Lionel de Silva.

Cyril Ramaphosa calls for mining sector action 

By: Martin Creamer     11th December 2017 South Africa must urgently break the ongoing deadlock on the regulation and transformation of the mining sector to ensure the proper use of this country’s world-class mineral resources, says Deputy President Cyril Ramaphosa. In an article on the CR17 Siyavuma campaign website, ahead of this... 

Cyril Ramaphosa calls for mining sector action
Photo by Duane Daws
Deputy President Cyril Ramaphosa

Goldplat, Rand Refinery agree to arbitration

By: Natasha Odendaal     11th December 2017 Tangible progress is being made towards the settlement of Aim-listed Goldplat’s dispute with Rand Refinery, with both parties having agreed to arbitration after a protracted period of negotiations. Goldplat on Monday said the parties formally agreed on an arbitration process for the recovery of... 

Goldplat, Rand Refinery agree to arbitration

Barrick approves exploration funding for Guyana earn-in

By: Creamer Media Reporter      11th December 2017 US gold major Barrick Gold has elected to continue funding the Arakaka gold project, in Guyana, in which it could earn up to 65% by spending $10-million. ASX-listed junior Alicanto Minerals, which is the operator of the Arakaka project, said on Monday that Barrick had agreed to fund the third... 

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