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Gold News

Congo State miner warns Randgold on transfer of Kibali mine to Barrick

By: Reuters     28th September 2018 Congo's State miner Sokimo warned Randgold Resources on Friday that Sokimo would "assert its rights" in Barrick Gold Corp's acquisition of Rangold's stake in the Kibali project under a takeover deal, but Sokimo did not clarify its plans. Canada's Barrick Gold agreed to buy Randgold Resources Ltd... 

Barrick's Bristow bet seen as boosting South America revival

By: Bloomberg     28th September 2018 Mark Bristow built a reputation as the developer and operator of lucrative mines in Africa. Now the world’s biggest gold mining company is betting he can do the same in another complex region, South America. The Randgold Resources founder is set to become CEO of Barrick Gold after Barrick said... 

Barrick's Bristow bet seen as boosting South America revival
Mark Bristow

NMDC firms up capex for next two financial years

By: Ajoy K Das     27th September 2018 India’s largest iron-ore miner, NMDC, has earmarked a capital expenditure (capex) of $902-million over the next two financial years. NMDC has committed this investment even as the miner is on verge of starting commercial production of its three-million-ton greenfield steel plant in the central... 

Petropavlovsk sees net profit next year as key project boosts output

By: Reuters     27th September 2018 Russian gold miner Petropavlovsk expects to report a net profit next year as a key gold treatment project is set to boost production and cut costs, CEO Pavel Maslovskiy said on Thursday. The company swung to a net loss of $24.8-million in the first half on rising costs and lower sales but the... 

Petropavlovsk sees net profit next year as key project boosts output
Petropavlovsk's POX hub.

GoldStone progresses scoping, old working assessment at Akrokeri-Homase project

By: Marleny Arnoldi     27th September 2018 Aim-listed GoldStone Resources is growing more confident in identifying mineral resource potential at the Akrokeri-Homase (AKHM) gold project, in Ghana. A work programme has focused on accessing the historic, high-grade Akrokeri underground gold mine, which is one of two previously producing... 

AMCU, NUM granted certificates of nonresolution in wage talks with Sibanye

By: Marleny Arnoldi     27th September 2018 The Commission for Conciliation, Mediation and Arbitration (CCMA) has granted certificates of nonresolution to the Association of Mineworkers and Construction Union (AMCU) and the National Union of Mineworkers (NUM) regarding gold wage negotiations with Sibanye-Stillwater. The wage negotiations... 

AMCU, NUM granted certificates of nonresolution in wage talks with Sibanye

Ramaphosa's stimulus plan, Australia's Taskforce and Barrick's $18.3bn deal make headlines  

27th September 2018 This week, Ramaphosa moves to revitalise mining, Australia ensures its mining competitiveness and Barrick Gold buys Randgold Resources. Mining Weekly editor Martin Creamer unpacks the headlines.   

Ramaphosa's stimulus plan, Australia's Taskforce and Barrick's $18.3bn deal make headlines
Ramaphosa's stimulus plan, Australia's Taskforce and Barrick's $18.3bn deal make headlines

Sibanye highlights Lonmin, DRDGold deal attractions at Denver

By: Martin Creamer     26th September 2018 The progressing Lonmin acquisition and the already done DRDGold deal have been highlighted to the Denver Gold Forum by Sibanye-Stillwater, which is currently hosting investors and analysts at its Stillwater mine in Montana. The forum heard how the Lonmin acquisition would add significantly to... 

Sibanye highlights Lonmin, DRDGold deal attractions at Denver
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

New AngloGold boss weighs asset sales to unlock value at miner

By: Bloomberg     26th September 2018 AngloGold Ashanti’s new CEO Kelvin Dushnisky said his goal of unlocking value at the world’s third-largest gold producer will involve focusing on its best assets and selling those that aren’t core to the business. Dushnisky, 55, took over at AngloGold on September 1 as the Johannesburg-based... 

New AngloGold boss weighs asset sales to unlock value at miner
AngloGold CEO Kelvin Dushnisky

Goldplat upbeat on FY18 results, despite lower profit, output

By: Simone Liedtke     26th September 2018 Aim-listed gold producer Goldplat achieved a profit from operating activities of £2.5-million for the financial year ended June 30. While this is lower than the £2.9-million profit reported for the prior financial year, chairperson Matthew Robinson on Wednesday said this was a positive result... 

Harmony Gold shows off growing portfolio quality in Denver

By: Martin Creamer     26th September 2018 Harmony Gold’s Moab Khotsong mine in South Africa and Hidden Valley mine in Papua New Guinea will together produce a third of the guided 1.5-million ounces in the 12 months to end June, with the projected 500 000 oz from these two operations being produced at an all-in sustaining cost of $950/oz,... 

Harmony Gold shows off growing portfolio quality in Denver
Photo by Creamer Media
Harmony Gold CEO Peter Steenkamp

Nickel Creek says Yukon project needs higher prices for development

By: Mariaan Webb     26th September 2018 Project developer Nickel Creek Platinum lost a third of its value on the TSX on Tuesday after the company announced that its flagship project in Yukon would not be advanced until prices strengthened and nickel settled in the range of $9/lb to $11/lb. Shares fell by as much as 44%, before closing... 

First Quantum falls as Panama court casts uncertainty on project

By: Bloomberg     26th September 2018 Canadian miner First Quantum Minerals headed for a one-week low after a ruling by Panama’s Supreme Court cast uncertainty over a major copper mine it’s developing in the central American country. Local media in Panama reported that the court ruled on Monday that Law 9 – used to approve a mining... 

Newmont's CEO rejects talk of bids for Barrick, Randgold

By: Bloomberg     26th September 2018 Newmont Mining CEO Gary Goldberg squashed speculation that Barrick Gold’s offer for Randgold Resources would tempt Newmont to make its own play. When asked about the speculation that’s been raised since the Barrick-Randgold merger was announced on Monday, Goldberg referenced past attempts at... 

Newmont's CEO rejects talk of bids for Barrick, Randgold
Newmont CEO Gary Goldberg

Trans Siberian reports higher interim results

By: Creamer Media Reporter      25th September 2018 Stronger production results and a higher gold price have lifted Russian miner Trans Siberian Gold’s revenue to a record $27.60-million in the six months ended June 30, compared with $18.8-million a year earlier. The revenue resulted in profit before tax increasing to $3.2-million, from... 

Sibanye reaches significant milestones in transaction with Regulus

By: Simone Liedtke     25th September 2018 JSE- and NYSE-listed Sibanye-Stillwater has reached significant milestones in its arrangement agreement with Regulus Resources and a newly-formed Regulus subsidiary, Aldebaran Resources, to unlock value at the Altar copper/gold project, in Argentina. Sibanye in June entered into the agreement... 

Tomingley underground development approved

By: Creamer Media Reporter      25th September 2018 The board of multicommodity miner Alkane has approved the underground development of the Tomingley gold operation in central-west New South Wales, with first fore from the underground mine expected by the middle of next year. The approved plan includes 93 000 oz of gold that will be recovered... 

US fund manager invests A$23m in Blackham Resources

By: Creamer Media Reporter      25th September 2018 ASX-listed Blackham Resources has signed executive agreement with New York-based institutional fund manager, The Lind Partners, for an investment of up to A$23-million, the company announced on Tuesday. An initial A$7.5-million would be provided as a secured convertible note with a 24-month term... 

Barrick and Shandong announce $300m cross investment

By: Creamer Media Reporter      25th September 2018 Gold major Barrick Gold, which on Monday announced a $18.5-billion merger with Randgold Resources, has reached a cross investment agreement with China’s Shandong Gold, which executive chairperson John Thornton said further deepened the partnership between the two companies. Under the agreement,... 

Barrick's Randgold acquisition may spur more gold mining deals

By: Bloomberg     25th September 2018 Gold miners earned the ire of investors including billionaire hedge-fund manager John Paulson for entering into bad deals that destroyed shareholder value in the past. Shareholders of the two companies announcing a merger Monday signaled they think this time may be different. 

Barrick's Randgold acquisition may spur more gold mining deals
Mark Bristow says there are Australian investors interested in Barrick's Kalgoorlie mine.

Alaska’s Peak Gold PEA published

By: Creamer Media Reporter      25th September 2018 The joint venture partner in Peak Gold have published the preliminary economic assessment (PEA) for the gold project, near Tok, Alaska, detailing the “attractive” economics of the openpit operation at a gold price of $1 250/oz. Using the base case gold price and a silver price of $17/oz, the PEA... 

Barrick silences its biggest critic by buying out Randgold

By: Bloomberg     24th September 2018 For more than two decades, Mark Bristow has been a thorn in the side of Barrick Gold. Now he’s its closest partner. The 59-year-old South African will take the role of chief executive officer at Barrick after the Canadian company inked a $5.4-billion deal to buy out Randgold Resources. It’s a... 

Barrick silences its biggest critic by buying out Randgold
Mark Bristow

Barrick Gold to buy Randgold Resources in $18.3bn deal

By: Reuters     24th September 2018 Canada's Barrick Gold has agreed to buy Randgold Resources in a $18.3-billion share deal to create the world's largest gold company in an industry under investor pressure to put capital to good use. The new Barrick company, which will be listed in New York and Toronto, will own five of the... 

Barrick Gold to buy Randgold Resources in $18.3bn deal
Mark Bristow will be CEO of the merged company.

Bank of America sees gold topping $1 300 on fiscal deficit

By: Bloomberg     24th September 2018 Gold is set to surge over the next year as concerns deepen about the widening US. budget deficit and a tariff-driven trade war starts to damage the country’s economy, according to Bank of America Merrill Lynch. Bullion could average $1 350/oz in 2019 as corporate tax reforms worsen the US... 

Barrick Gold, Randgold said to be in advanced merger talks

By: Bloomberg     24th September 2018 Barrick Gold is said to be in advanced negotiations to merge its operations with Africa-focused rival Randgold Resources, protecting the Toronto-based miner’s crown as the world’s largest producer of the metal. A deal is imminent, according to one of the three people familiar with the... 

Barrick Gold, Randgold said to be in advanced merger talks

Harte Gold's Sugar Mill mine fully permitted

By: Creamer Media Reporter      23rd September 2018 Ontario’s first high-grade gold mine in more than a decade is about to start commercial production, junior miner Harte Gold said this week, announcing that it has received the necessary permits to mine, process ore and pour gold on site. The permitting of the Sugar Zone mine has been a lengthy... 

Paulson launches alliance to seek better returns in gold sector

By: Reuters     21st September 2018 Long-time gold bull John Paulson followed through on Friday on a pledge made last year to team up with other gold investors in an effort to work with management of companies in the gold sector to improve returns, according to the group, called the Shareholders Gold Council. The coalition,... 

NUM signs wage deal with AngloGold

By: Reuters     21st September 2018 South Africa's National Union of Mineworkers (NUM) signed a three-year wage deal with AngloGold Ashanti on Friday, inking the same agreement that other unions reached with the company earlier in the week. The agreement will mean an effective pay hike of over 12% for entry-level underground... 

Ramaphosa moves to revitalise mining, create certainty

By: Martin Creamer     21st September 2018 It is imperative that South Africa restores investment and exploration levels in the mining sector as mining and mineral beneficiation activities have significant potential to drive long term growth, exports and job growth, President Cyril Ramaphosa said in his economic stimulus and recovery plan... 

Ramaphosa moves to revitalise mining, create certainty
President Cyril Ramaphosa

Pacton receives regulatory approval to buy rest of Arrow

By: Creamer Media Reporter      21st September 2018 Canadian junior Pacton Gold hunting conglomerate-style gold in Australia’s Pilbara has received approval from the TSX Venture Exchange to buy the remaining 49% interest in Arrow Minerals. The transaction, announced last month, gives the company full ownership of a strategic landholding of 609... 

IDM's Red Mountain entering final enviro assessment stage

By: Mariaan Webb     21st September 2018 The Canadian Environmental Assessment Agency (CEA) has initiated the final stage of the Red Mountain gold project environmental assessment process, inviting public comment on the draft report and potential conditions that will be applied. The draft comment period runs until October 18, and a... 

Continental Gold says three geologists killed in armed Colombia attack

By: Reuters     21st September 2018 Canadian miner Continental Gold said on Thursday three of its geologists were killed in northern Antioquia province in Colombia in an armed attack. Three others were also injured in the attack, a company spokesman told Reuters. 

Gold bulls say bears should be nervous as metal's rout ebbs

By: Bloomberg     21st September 2018 Beleaguered gold bulls are finally getting a rest from this year’s sell-off, and some see encouraging signs for a turnaround in the metal. After falling for five straight months, the longest slump since 2013, gold is showing resilience, holding near $1 200 an ounce since late August and... 

Focus turns to nonexplosives-based rock breaking as quest for safer, more-efficient mining intensifies

By: Dylan Slater     21st September 2018 The South African mining industry, once the backbone of economic growth, intensive job creation and development, is declining constantly, owing to the slow rates of research and development into newer, safer, modernised, mechanised and continuous mining methods. A key pillar of improving mining... 

Focus turns to nonexplosives-based rock breaking as quest for safer, more-efficient mining intensifies

Central banks add 193 t of gold to reserves in H1

By: Marleny Arnoldi     20th September 2018 Central banks have added 193.3 t of gold to their reserves in the first six months of this year, which is an 8% increase compared with the 178.6 t bought in the same period last year, making it the strongest first half for central bank gold buying since 2015. The World Gold Council (WGC) states... 

Central banks add 193 t of gold to reserves in H1

Gold wage talks deadlock again between Sibanye and AMCU

By: African News Agency      20th September 2018 Wage negotiations between the Association of Mineworkers and Construction Union (AMCU) and Sibanye-Stillwater reached a deadlock once again on Thursday. "No agreement has been reached and wage talks continue," AMCU said in a terse statement. 

Toro appoints new CFO

By: Creamer Media Reporter      20th September 2018 West Africa-focused Toro Gold has appointed Martin Page CFO, effective October 8. This follows the retirement of former CFO Gary Townsend, who remains available to the company on a reduced hours basis to provide continuity and support over the next 12 months. 

Serabi fills new COO position with Brazilian national

By: Creamer Media Reporter      20th September 2018 Brazil-focused gold mining and development company Serabi on Thursday announced the appointment of Roney Almeida to the newly established position of COO. Almeida, a Brazilian national and resident in Belo Horizonte, will report to Serabi CEO Mike Hodgson. 

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