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Gold News

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

Goldplat completes installation of Ghana elution plant

By: Marleny Arnoldi     29th March 2018 Aim-listed gold producer Goldplat’s Gold Recovery Ghana (GRG) subsidiary has completed the installation and commissioning of an elution plant and all associated ancillary equipment at its gold recovery site in Tema, Ghana.  

Serabi announces $8m raising for Brazil projects

By: Creamer Media Reporter      29th March 2018 Aim- and TSX-listed Serabi Gold has announced an $8-million raising capital raising, which alongside the previously announced $15-million that was raised from Greenstone, will underpin accelerated development at its projects in Brazil. The $8-million placing of new shares at 3.6p each is being... 

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

By: Bloomberg     29th 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; fund holdings are at the highest in a half-decade; and haven demand may get a boost with foreign-policy hawks in the ascendant in Washington. 

Empire raises issues with EGMS

By: Esmarie Swanepoel     29th March 2018 Junior gold miner Empire Resources has started dispute proceedings with Eastern Goldfield Milling Services (EGMS) over the toll treatment agreement of the Penny’s Find gold mine, in Western Australia Empire was seeking to recover more than A$830 000 owed to the company following the November and... 

Sibanye-Stillwater, Wits partner to digitalise mining industry

By: Nadine James     28th March 2018 Gold miner Sibanye-Stillwater has reaffirmed its commitment to ensuring safer and more productive mines by continuing its ongoing partnership with the University of the Witwatersrand’s (Wits’) Mining Institute with the launch on Wednesday of the Sibanye-Stillwater Digital Mining Laboratory... 

Barrick founder Peter Munk passes at 90

By: Henry Lazenby     28th March 2018 Canadian entrepreneur and philanthropist Peter Munk passed away peacefully in Toronto on Wednesday, miner Barrick Gold said in an announcement. Munk will best be remembered in mining circles for founding Barrick as a single-asset company in 1983 and building it into the world’s largest bullion... 

Barrick founder Peter Munk passes at 90
Photo by Reuters
The late Barrick Gold founder and chairperson emeritus Peter Munk

DRDGold shareholders approve WRTRP deal with Sibanye-Stillwater

By: Marleny Arnoldi     28th March 2018 Dual-listed DRDGold’s shareholders on Wednesday voted in favour of all resolutions relating to the company’s proposed acquisition of certain assets at diversified miner Sibanye-Stillwater’s West Rand Tailings Retreatment Project (WRTRP).  

DRDGold shareholders approve WRTRP deal with Sibanye-Stillwater
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman and DRDGold CEO Niël Pretorius

Connemara restarts drilling at Mine River project

By: Creamer Media Reporter      28th March 2018 Irish exploration company Connemara Mining has restarted drilling at the Mine River gold project in Wicklow/Wexford, with a 1 000 m programme over 10 drill holes. The company has prioritised two targets that lie along a target trend identified through airborne geophysics, soil and rock... 

Petropavlovsk profit surges 31%

By: Mariaan Webb     28th March 2018 Russian gold miner Petropavlovsk has reported a 31% increase in its profit for 2017, reflecting higher revenue as a result of increased gold sales at a stronger price. The UK-based company on Wednesday reported that its profit increased from $31.7-million in 2016 to $41.5-million, including a... 

Petropavlovsk profit surges 31%
Ian Ashby

Higher H2 production forecast at Pan African’s Barberton Mines, Royal Sheba resource doubles

By: Marleny Arnoldi     28th March 2018 South African gold miner Pan African Resources expects its Barberton Mines subsidiary to produce about 50 000 oz of gold in the second half of the 2018 financial year – a 23% increase from the first half of the year, which ends on June 30. 

Higher H2 production forecast at Pan African’s Barberton Mines, Royal Sheba resource doubles

Doray starts development at Da Vinci

By: Esmarie Swanepoel     28th March 2018 Gold miner Doray Minerals has started has started development of the Da Vinci underground operation, at its Deflector project in Western Australia. The company has gained underground access to the Da Vinci lodes via an extension from the Deflector gold copper mine. 

Matsa completes Red October buy

By: Esmarie Swanepoel     28th March 2018 ASX-listed Matsa Resources has finalised and settled the acquisition of the Red October gold mine, in Western Australia, from fellow-listed gold miner Saracen Mineral Holdings. The two companies in September agreed to the sale, under which Matsa acquired the Red October project for A$1-million... 

Global gold investment seen rising for 5th year in 2018 – CPM

By: Reuters     28th March 2018 Bullion investors, miners and makers of coins will help drive the fifth straight annual increase in total global gold investment in 2018, CPM Group said in its Gold Yearbook 2018 on Tuesday, citing geopolitical tensions and fears that the bubbling US economic expansion will end in a 2019... 

Global gold investment seen rising for 5th year in 2018 – CPM

Mercury Rising: Gold mining takes a toxic toll on Kenyan women

By: Reuters     28th March 2018 Scorching sun beats down on half a dozen women as they carry large sacks of crushed ore on their backs at the Osiri-Matanda gold mine near Kenya's border with Tanzania. On wooden tables, they sieve the powdered ore into metal pans, add mercury, and heat the mixture over a charcoal fire. The air... 

North American Palladium makes PGM discovery at Sunday Lake

By: Henry Lazenby     27th March 2018 Winter exploration results from the Sunday Lake platinum-group metals (PGM) deposit, 25 km northeast of Thunder Bay, Ontario, has led to the discovery of new PGM mineralisation in the central part of the property, with extensions to the east, that open up a much larger area for exploration, North... 

Newcrest restarts mining at Cadia, processing remains suspended

By: Esmarie Swanepoel     27th March 2018 Gold miner Newcrest Mining has restarted mining at the Cadia East operation, in New South Wales, following a limited breakthrough of tailings material earlier this month. Newcrest progressively suspended all mining operations at the Cadia mine on March 10, to allow site management to focus on... 

Petropavlovsk executes forward sales agreement with Gazprombank

By: Creamer Media Reporter      27th March 2018 Russia’s State-owned Gazprombank will buy 96 000 oz of gold from Petropavlovsk under a forward sales agreement, the London-listed mining company announced on Tuesday. The agreement allows for advance payment of up to 12 months, with advances to be settled using proceeds at the prevailing gold... 

Kinross Gold settles US charges related to bribe prevention in Africa

By: Reuters     27th March 2018 The US Securities and Exchange Commission said Canadian mining company Kinross Gold Corp agreed to pay $950 000 to settle civil charges that it failed to ensure its payments in Africa were not being used to bribe government officials. The SEC said in a statement Monday the company did little to... 

Teal delivers more gold for Intermin

By: Esmarie Swanepoel     27th March 2018 ASX-listed junior Intermin Resources has lifted the production target for its Teal gold mine, in Western Australia, from the previous estimate of 20 000 oz, to between 21 000 oz and 22 000 oz. The company told shareholders on Tuesday that mining operations at Teal Stages 1 and 2 had been... 

Sprott-backed blockchain platform to give gold digital edge  

By: Bloomberg     26th March 2018 Cryptocurrencies and the blockchain were thought by some to replace gold as the ultimate haven against financial calamity. Now the gold market is using blockchain to kick back at crypto and bring precious metals into the digital age. TradeWind Markets, a technology provider backed by Sprott,... 

Centerra-funded EM survey starts at Erris’ Käringberget

By: Creamer Media Reporter      26th March 2018 Europe-focused explorer Erris Resources reported on Monday that a 20 km electromagnetic (EM) ground geophysical survey has started over previously identified targets at the Käringberget gold project, in northern Sweden. The survey, which is funded by joint venture partner Centerra Gold, is... 

Senegal approves Stratex’s option agreement over Dalafin project

By: Simone Liedtke     26th March 2018 Gold-focused exploration and development company Stratex International has received governmental approval in Senegal for its option agreement with Iamgold’s wholly-owned subsidiary AGEM Senegal Exploration, in respect of the Dalafin gold project. This was the only condition in respect of the... 

Vast expands Manaila’s mineral resource

By: Creamer Media Reporter      26th March 2018 Aim-listed Vast Resources has significantly expanded the mineral resource estimate of its Manaila polymetallic mine, which, when the company bought the Romanian mine in 2015, had less than 400 000 t of mineral resources left in the operating pit. The openpit mineral resource in the measured and... 

R&E reports R7m loss due to ongoing litigation

By: African News Agency      26th March 2018 South African gold miner Randgold and Exploration (R&E) on Monday reported a total comprehensive loss of R7-million for the year ended 31 December 2017, down from R7.9-million the previous year, as a result of an increase in legal fees.  R&E said that during the 2017 financial year, it received... 

Full processing resumes at Darlot

By: Esmarie Swanepoel     26th March 2018 Gold miner Red 5 has resumed full processing operations at its Darlot gold mill, in Western Australia, following a temporary interruption last week. The company said on Monday that Mill 1 was successfully restarted on March 22, and that it had operated continuously for the past three days,... 

Westgold starts wet commissioning of Tuckabianna

By: Esmarie Swanepoel     26th March 2018 Gold junior Westgold Resources has started wet commissioning of its Tuckabianna process plant, in Western Australia. The ASX-listed company acquired the plant in mid-2017, and has spent the past six months permitting and refurbishing the plant to operate at between 1.2-million and 1.4-million... 

Barrick Gold cuts 2017 compensation for top two executives

By: Reuters     24th March 2018 Barrick Gold, the world's largest producer of bullion, cut the 2017 compensation for its top two executives to reflect a challenging "shareholder experience" and operations at some mines. Shares in the Canadian miner declined 15% last year, even as the price of gold gained 11%. In 2017 Barrick... 

US Army Corps announces scoping period for Northern Dynasty’s Pebble project

By: Henry Lazenby     23rd March 2018 The US Army Corps of Engineers' Alaska District will publish a notice of intent in the US federal register next week to prepare a draft environmental-impact statement (EIS) to review the Pebble Limited Partnership’s (PLP's) application to discharge fill material into US waters for the purpose of... 

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