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Gold News

Barrick seeks Chinese partners for Tanzania mines – Globe

By: Bloomberg     17th September 2018 Barrick Gold may slash 400 jobs and involve Chinese partners in its troubled Tanzania operations, executive chairperson John Thornton told the Globe and Mail newspaper. The Toronto-based company has slashed middle management by half to about 700 and “we want to get it down to 300", Thornton,... 

Sprott takes stake in Wallbridge

By: Mariaan Webb     17th September 2018 Precious metals investor Eric Sprott has increased its shareholding in TSX-listed Wallbridge Mining through a nonbrokered private placement raising C$3.9-million. "We are pleased to have a gold investor such as Eric Sprott as one of our large shareholders. Eric is very familiar with high-grade... 

Centerra secures short-term water sources for Mt Milligan

By: Mariaan Webb     14th September 2018 British Columbia regulators have granted TSX-listed Centerra Gold approval to pump additional water – although limited volumes – for its Mount Milligan mine. The approvals, which were received earlier than anticipated, allow Centerra to pump from groundwater wells within Mount Milligan’s... 

Centerra secures short-term water sources for Mt Milligan
Mt Milligan mine

Pan African expects lower earnings

By: Martin Creamer     14th September 2018 Gold mining company Pan African on Friday advised shareholders that earnings in the 12 months to June 30 are expected to be lower than for the corresponding period last year. But the challenging operational environment has been ameliorated by the pouring last month of the first gold at the newly... 

Pan African expects lower earnings
Photo by Creamer Media
Pan African CEO Cobus Loots

Gold capital, ARM’s growth and Implats’ Zim tax relief make headlines  

14th September 2018 This week Mining Weekly editor Martin Creamer discusses gold mining capital, African Rainbow Minerals’ growth opportunities and Implats working with the Zimbabwean government. 

Gold capital, ARM’s growth and Implats’ Zim tax relief make headlines
Gold capital, ARM’s growth and Implats’ Zim tax relief make headlines

Apollo now owns 100% of Couflens

By: Creamer Media Reporter      14th September 2018 ASX-listed Apollo Minerals said on Friday that it had completed the acquisition of the remaining 20% interest in the Couflens tungsten/copper/gold project in the Pyrenees region of southern France, increasing its ownership to 100%. The company initially bought an 80% interest in 2017, and... 

Nordgold launches new Russia mine

By: Mariaan Webb     13th September 2018 Gold miner Nordgold has formally launched its third mine – the new Gross operation in Yakutia, Russia, which will turn the company into an one-million-ounce a year producer. The Gross mine will operate for 17 years and is expected to add 200 000 oz/y of to Nordgold’s production profile. 

Gold Fields plans to extend life of Peru mine through 2040

By: Reuters     13th September 2018 South African miner Gold Fields aims to extend the life of its Cerro Corona gold mine in Peru through 2040 with an investment of at least $240-million, the company's vice president for the Americas said late on Wednesday. "We're doing studies with Peruvian consulting firms and international... 

South African mining sees considerable decline of 5.2% in July – Stats SA

By: Simone Liedtke     13th September 2018 Mining production in South Africa decreased by 5.2% year-on-year in July, following a 3.7% year-on-year rise in June, mainly as a result of declines in the production of gold, iron-ore, coal and platinum-group metals (PGMs). According to Statistics South Africa (Stats SA), gold decreased by 15%,... 

South African mining sees considerable decline of 5.2% in July – Stats SA

Gold Fields ranked top South African mining company, third best global gold company

By: Marleny Arnoldi     13th September 2018 JSE- and NYSE-listed Gold Fields has again been ranked the top South African mining company on the Dow Jones Sustainability Index (DJSI) benchmarking database. The DJSI scorecard for 2018, which was published on Thursday, shows that Gold Fields’ sustainability practices rank with the best of... 

Gold Fields ranked top South African mining company, third best global gold company
Photo by Creamer Media
Gold Fields CEO Nick Holland

Chaarat appoints new board member

By: Creamer Media Reporter      13th September 2018 Aim-quoted exploration and development company Chaarat Gold has appointed Robert Edwards – a mining engineer with broad institutional and corporate experience – to its board as an independent nonexecutive director. Edwards is the former chairperson of Global Mining at Renaissance Capital and has... 

Ramelius buys WA gold project

By: Mariaan Webb     13th September 2018 Acquisitive Ramelius Resources on Thursday announced that it would buy the Marda gold project, about 190 km from its Edna May operation in Western Australia for A$13-million. The company, which earlier this week launched a hostile takeover for Explaurum, said that the Marda resource could be a... 

Power plant delays fuel tensions over Rio's giant Mongolia copper mine

By: Reuters     13th September 2018 Nearly 10 years on from the launch of a giant copper and gold project in Mongolia, Rio Tinto is still looking to secure a domestic power source it needs for the mine under an agreement with the government. Oyu Tolgoi, located in the South Gobi region near landlocked Mongolia's southern border... 

Power plant delays fuel tensions over Rio's giant Mongolia copper mine

Resources Watch  

13th September 2018 DRDGold shares leap on higher-grade fillip And, DRDGold expecting rapid gold output from West Rand tailings project 

Resources Watch
Resources Watch

Barrick to eliminate innovation role under decentralisation

By: Reuters     13th September 2018 Barrick Gold Corp will eliminate the executive role of chief innovation officer (CIO) as part of a broad decentralization push, the company said on Wednesday, adding that it will continue to work on innovation and productivity improvements. Barrick did not officially announce the change, which... 

Yamana Gold says Argentina export tax to impact on cash flow

By: Mariaan Webb     12th September 2018 Canadian miner Yamana Gold remains on track to deliver the previously flagged “step change” in cash flow, but warned on Wednesday that the new Argentina export tax would set back its plans. Last week, Argentina President Maurico Macri announced new taxes on exports as part of a larger plan aimed... 

Yamana Gold says Argentina export tax to impact on cash flow
The Gualcamayo mine.

Gold slips amid US-China trade war concerns

By: Reuters     12th September 2018 Gold fell on Wednesday, but remained stuck in a narrow trading range as investors worry about a simmering trade war between the United States and China. Spot gold was down 0.3% to $1 193.61 an ounce at 1200 GMT, after hitting its lowest since Aug. 24 at $1 187.21 on Tuesday. US gold futures eased... 

DRDGold projects boost Ergo efficiency, lower costs

By: Martin Creamer     12th September 2018 Three major projects completed by surface gold mining company DRDGold are expected to boost the fortunes of the company’s Ergo plant on the East Rand. The three projects made up the bulk of the company’s capital spend of R125.9-million in the 12 months to June 30. 

DRDGold projects boost Ergo efficiency, lower costs
Photo by Creamer Media Chief Photographer Dylan Slater
DRDGold CFO Riaan Davel

New Gold appoints new CEO

By: Marleny Arnoldi     12th September 2018 TSX- and NYSE-listed New Gold has appointed Renaud Adams president and CEO, effective September 12. He succeeds New Gold outgoing director and CEO Raymond Threlkeld, who has led the company since May.  

Toro Gold reports promising drilling results to extend Senegal mine’s life

By: Marleny Arnoldi     12th September 2018 Gold miner Toro Gold has reported highlights from its 60-hole 15 000 m core drilling programme that is under way at its 90%-owned Mako gold mine, in Senegal, including 19.5 m at 3.4 g/t gold from 193.4 m. The programme is targeting mineralisation underneath the current openpit that has the... 

Gran Colombia ups FY guidance

By: Mariaan Webb     12th September 2018 TSX-listed Gran Colombia has increased its gold production guidance for 2018 by between 10 000 oz and 20 000 oz, following a strong performance in the first eight months of the year. The company, which operates several underground mines at Segovia and Marmato in Colombia, produced 36% more gold... 

Polyus on track to boost gold output in 2019

By: Reuters     12th September 2018 Polyus, Russia's largest gold producer, is on track to boost production to 2.8-million troy ounces and to reduce its capital expenditure in 2019, its CEO Pavel Grachev told Reuters. Its 2018 production is on track to reach the upper end of its forecast range of 2.375-million to 2.425-million... 

Polyus on track to boost gold output in 2019
Polyus CEO Pavel Grachev

Brazil federal authorities should take up Belo Sun mine case, court rules

By: Reuters     12th September 2018 A Brazilian court ruled that a mine planned by Toronto-based Belo Sun Mining in the Amazonian state of Para should be examined by federal authorities and its licences reviewed, prosecutors said on Tuesday. The decision could further lengthen the approval process for the company, which has been... 

Katoro expects Kibo Nickel acquisition to close soon, mining licence for Imweru pending

By: Marleny Arnoldi     11th September 2018 Aim-listed Katoro Gold had an active six months to June 30, with the continued development of the Imweru gold project, in Tanzania, and diversifying its portfolio with the acquisition of Kibo Nickel. The company expects the Kibo transaction to be completed shortly, which will give Katoro access... 

AMCU declares dispute with three gold mining companies 

By: Marleny Arnoldi     11th September 2018 The Association of Mineworkers and Construction Union (AMCU) on Tuesday warned gold miners Sibanye-Stillwater, Harmony Gold and Village Main Reef of an imminent strike, should they fail to meet the demands of mineworkers. Wage negotiations in the gold sector started in mid-July, and AMCU and... 

AMCU declares dispute with three gold mining companies
Photo by Reuters
AMCU president Joseph Mathunjwa

Gold mining battling to attract capital – Holland

By: Martin Creamer     11th September 2018 Capital is not as easily available to gold mining companies as it used to be. Gold producers are having to compete with gold-linked alternatives and can no longer rely on equity as a guaranteed means of financing projects or addressing balance sheet gearing. Making these points at the... 

Gold mining battling to attract capital – Holland
Photo by Creamer Media
Gold Fields CEO Nick Holland

Matsa starts mining at Red Dog

By: Esmarie Iannucci     11th September 2018 Junior miner Matsa Resources has started mining at its Red Dog gold mine, in Western Australia. Red Dog is estimated to host a mineral resource of 368 000 t, at 2.2 g/t gold, for 26 300 oz of gold. 

Kingston takes 70% stake in Masima

By: Esmarie Iannucci     11th September 2018 Junior Kingston Resources has increased its ownership in the 2.8-million ounce Masima gold project, in Papua New Guinea, after completing its expenditure requirements. Kingston has now increased its interest in the project from 49% to 70% with joint venture partner Pan Pacific Copper holding... 

Crade Arc signs Mali project exploration agreement with Indiana Resources

By: Marleny Arnoldi     10th September 2018 Aim-listed copper and gold miner Cradle Arc’s subsidiary Caracal Gold Mali has entered into a joint venture (JV) agreement with Mukuyu Resources for the exploration and development of Cradle’s 137 km2 Kossanto West gold project, in Mali. The area comprises the Kobokoto and Koussikoto... 

Mali's Keita names new defence and mines ministers for second term

By: Reuters     10th September 2018 Malian President Ibrahim Boubacar Keita named new defence, mines and foreign ministers on Sunday as he began his second five-year term presiding over a country ravaged by jihadist and inter-ethnic violence. Keita was sworn in last week after winning a landslide re-election despite escalating... 

'Will I come back dead?' Human costs of South African gold

By: Bloomberg     10th September 2018 fter more than two decades of improving mine safety since the end of apartheid, South Africa’s progress has stalled with an increase in gold-mining deaths. More than 50 people have died in the country’s mines in 2018, roughly the same number as this time last year. While annual death tolls are... 

Orion completes Dalradian acquisition

By: Mariaan Webb     10th September 2018 Dalradian Resources, the developer of the Curraghinalt gold project, in Northern Ireland, is set to be delisted from the TSX after the end of trading on Monday, following the completion of a takeover by Orion Mine Finance. The company’s stock was cancelled from admission to trading on Aim by... 

Newmont backs Orosur with $2m placement, Colombia earn-in

By: Mariaan Webb     10th September 2018 TSX- and Aim-listed Orosur on Monday announced an exploration and option agreement with gold major Newmont Mining, which will see the gold major earn into the 207.5 ha Anzá project in Antioquia, Colombia. Newmont has also invested $2-million through a private placement in the cash-strapped... 

Ramelius launches hostile bid for Explaurum

By: Esmarie Iannucci     10th September 2018 ASX-listed Explaurum has urged shareholders not to take any action regarding a hostile takeover offer from gold miner Ramelius Resources. Ramelius on Monday launched an all-scrip bid for Explaurum, offering one of its own shares for every four Explaurum shares held, valuing the takeover... 

Ramelius launches hostile bid for Explaurum

Chalice takes final stake in East Cadillac

By: Esmarie Iannucci     10th September 2018 Dual-listed gold junior Chalice Gold Mines has moved to acquire the remaining 30% interest in the East Cadillac gold project, in Canada, from TSX-V listed joint venture partner Monarques Gold Corporation. Under the original option and farm-in agreement, Chalice in March this year met its maximum... 

Syndicated reports maiden resources at Monument

By: Esmarie Iannucci     10th September 2018 ASX-listed Syndicated Metals has reported a maiden Joint Ore Reserves Committee compliant resource of 855 000 t, at 1.8 g/t gold for 50 000 oz of contained gold at the Korong deposit, at its Monument gold project, in Western Australia. The company on Monday said that the initial inferred mineral... 

All Beta Hunt options back on the table following high-grade discovery

By: Mariaan Webb     10th September 2018 Canadian miner RNC is reconsidering its options for the Beta Hunt mine and says it is no longer in exclusive discussions with a preferred bidder for the Western Australian mine, following a new high-grade gold discovery. RNC announced on Monday that it had produced 9 250 oz of high-grade gold... 

All Beta Hunt options back on the table following high-grade discovery
A 95 kg specimen stone containing an estimated 2 440 oz and a 63 kg specimen stone, containing 1 620 oz.

Eureka gold mine to restart production in H1 2019

By: Simone Liedtke     7th September 2018 Aim-listed Vast Resources hopes to restart production at the Zimbabwe-based Eureka gold mine, in which the company’s 25%-owned Dallaglio Investments holds a 95% interest, in the first half of 2019. Multiple work programmes are currently being undertaken at Eureka to restore the mine to... 

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