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Gold News

ABB equipment set for Kittilä gold mine in Finland

By: Tasneem Bulbulia     7th September 2018 The Kittilä mine has invested in multinational corporation ABB’s production and personnel hoists, and these are set to be installed and introduced at the mine during 2020/21 The ABB delivery includes one friction type production hoist with 2.5 MW of motor power and a 1.2 MW single drum personnel... 

Galantas Gold announces private placement

By: Simone Liedtke     7th September 2018 Aim- and TSX-V-listed Galantas Gold on Friday announced a private placement for a maximum of 30-million shares, at £0.042 a share. This will achieve gross proceeds of £1.2-million, which is intended to be used for working capital purposes and to continue development of an underground mine on... 

Lundin has no plan to amend Nevsun offer

By: Tasneem Bulbulia     7th September 2018 Canadian firm Lundin Mining has announced that it would not amend its bid for all of the issued and outstanding shares of fellow Canadian miner Nevsun Resources. This comes after Nevsun earlier this week agreed to a friendly C$1.86-billion takeover by Zijin Mining, trumping Lundin's hostile... 

Barberton Mines concludes wage negotiations with unions

By: Marleny Arnoldi     7th September 2018 Gold mining group Pan African Resources’ Barberton Mines has successfully concluded a three-year wage agreement with the National Union of Mineworkers (NUM) and the United Association of South Africa (Uasa). The agreement provides for an average yearly wage increase of about 6.5% and 5.5% for... 

Nordic amends gold purchase agreement with PFL Raahe

By: Marleny Arnoldi     7th September 2018 TSX-listed Nordic Gold Corporation said on Thursday that it had agreed to amend certain terms in the November 2017 pre-paid forward gold purchase agreement with PFL Raahe Holdings. The agreement provided Nordic with $20.6-million to restart the Laiva gold mine, in Finland.  

McEwen reports encouraging exploration results from Canada, US projects

By: Marleny Arnoldi     7th September 2018 NYSE- and TSX-listed precious metals producer McEwen Mining has reported an updated mineral resource estimate for the Froome deposit and “highly encouraging” exploration results from its ongoing $15-million exploration programme at the Black Fox Complex, in Ontario, Canada. The Froome indicated... 

Peel raises funds to advance projects, buy royalty

By: Esmarie Iannucci     7th September 2018 ASX-listed Peel Mining will raise A$12.3-million to fund a maiden Joint Ore Reserves Committee compliant resource at the Wagga Tank project, advance its Mallee Bull project towards production, and complete the acquisition of a 2% net smelter royalty over the Wagga Tank project. The company has... 

Red 5 enters into gold loan facility

By: Esmarie Iannucci     7th September 2018 Gold miner Red 5 has entered into a gold loan facility of 5 015 oz with Malaysia-based investment fund Asian Investment Management Services. The gold will be made available in one tranche, with the facility to have a term of 12 months, and will be secured by a security interest in Red 5’s... 

Carbon Tax, DRDGold and exploration make headlines 

7th September 2018 This week, there are calls for treasury to abandon the carbon tax plan in light of the new Integrated Resources Plan, DRD Gold expects rapid gold output and exploration stimulus must be transparent.  

Carbon Tax, DRDGold and exploration make headlines
Carbon Tax, DRDGold and exploration make headlines

Zim miner seeking new opportunities

7th September 2018 Diversified miner Vast Resources reports that its expansion initiatives in Zimbabwe continue to progress encouragingly. Vast Resources has interests in the producing Pickstone-Peerless and Eureka gold mines. 

Zim miner seeking new opportunities
Photo by Bloomberg
SOLID PERFORMANCE Gold produced and sold at Pickstone-Peerless rose in the second quarter to the highest recorded levels

Peru processing facility acquired

7th September 2018 Mineral resources company Inca One Gold has entered into a definitive purchase agreement to acquire full ownership of Anthem United, which owns 90.14% interest in the 350 t/d Koricancha ore processing facility in Peru, from miner Equinox Gold. Koricancha is located about 50 km from Inca One’s ore... 

Peru processing facility acquired
OPERATING EFFICIENCY Koricancha is a custom-built, fully operational, industrial gold ore processing facility, featuring a carbon-in-leach gold circuit

Mining waste set to grow, but ‘reduce, reuse, recycle’ solutions abound

By: Tracy Hancock     7th September 2018 The evolution of waste management techniques to accommodate the shift to low-grade ores by mining operations is one of the key emerging trends in the global mining waste management market, states UK market research company Technavio. The London-headquartered company explains that in the last... 

Mining waste set to grow, but ‘reduce, reuse, recycle’ solutions abound

Accelerate processes to ensure timeous recovery of mining sector – govt urged

By: Nadine James     7th September 2018 Integrated infrastructure delivery company AECOM is well-poised to make inroads into the mining industry, says AECOM Africa strategy and growth director Fadzai Nyamasve. She tells Mining Weekly that  although there  is still uncertainty in the market regarding the Mining Charter, AECOM expects... 

Accelerate processes to ensure timeous  recovery of mining sector – govt urged
FADZAI NYAMASVE Regulatory uncertainty is being addressed and there is a deliberate campaign to attract investors, so the pressing challenge is ensuring the industry recovers in a timeous manner

Viceroy says it's shorting Canadian miner Pretium Resources

By: Bloomberg     6th September 2018 Viceroy Research said it’s shorting Pretium Resources, arguing the company has artificially inflated the value of its Canadian gold mine, which risks being taken over by creditors in coming months. The New York-based short seller – which rose to prominence last year with research into financial... 

Viceroy says it's shorting Canadian miner Pretium Resources
The Brucejack mine in British Columbia.

Royal Sheba exceeding expectations – Pan African

By: Simone Liedtke     6th September 2018 An updated mineral resource estimate at gold miner Pan African Resources’ Barberton mine Royal Sheba project has revealed a 150% increase in mineral resources to 899 000 oz, the Johannesburg- and London-listed company reported on Thursday. The company is continuing with an exploration drilling... 

Royal Sheba exceeding expectations – Pan African

Emmerson hopes to fast-track Tennant Creek

By: Esmarie Iannucci     6th September 2018 The share price of Emmerson Resources rose by 6% on Thursday as the company revealed a strategic alliance with Territory Resources, that could fast-track gold production at the Tennant Creek operations. Under the strategic alliance agreement, Territory Resources will subscribe for A$2-million new... 

Pantoro raises funds for growth strategy

By: Esmarie Iannucci     6th September 2018 ASX-listed gold miner Pantoro will raise A$15-million to fund its growth strategy. An initial A$13-million has been raised through a share placement to professional and sophisticated investors, priced at 20c a share, with a subsequent share purchase plan (SPP) expected to raise a further... 

OreCorp eyes full ownership of Nyanzaga

By: Esmarie Iannucci     6th September 2018 The Tanzanian Fair Competition Commission has backed ASX-listed OreCorp’s plans to gain a majority interest in the Nyanzaga gold project. OreCorp in July this year exercised its option to gain a 51% interest in the gold project after gaining an initial 25% interest in the project by spending... 

Geko gold sold to Northern Star

By: Esmarie Iannucci     6th September 2018 Newly listed Coolgardie Minerals has entered into an ore sales agreement with gold miner Northern Star Resources over the sale of the first 100 000 t of oxide ore produced from its Geko gold mine, in Western Australia. Mining at Geko started at the end of August this year, and the project is... 

Semafo’s Boungou achieves commercial production

By: Creamer Media Reporter      6th September 2018 The Boungou gold mine in Burkina Faso achieved commercial production on September 1, Canada-based miner Semafo reported this week. Commercial production was declared when operations reached the internal commercial production measure of 30 consecutive days of mill throughput at 75% of nominal... 

Centenera to buy six Argentina precious metals projects

By: Creamer Media Reporter      6th September 2018 TSX-V-listed Centenera Mining has signed a binding letter agreement granting it the right to acquire up to a 100% interest in six precious metals properties in the Deseado Massif in Santa Cruz, giving the firm a meaningful foothold in the mining and exploration district. The agreement is with an... 

Gold wage negotiations continue

By: Creamer Media Reporter      5th September 2018 Gold producers AngloGold Ashanti and Sibanye-Stillwater on Wednesday continued talks with unions, the Association of Mineworkers and Construction Union, Solidarity and Uasa, regarding wage increases and conditions of employment. The parties continued to engage in bilateral discussions and good... 

DRDGold expecting rapid gold output from West Rand tailings project 

By: Martin Creamer     5th September 2018 The high quality of the gold tailing retreatment infrastructure that surface gold mining company DRDGold has acquired on the Far West Rand in partnership with Sibanye-Stillwater is enabling the company to get into production very quickly, DRDGold CEO Niél Pretorius said on Wednesday. Speaking in... 

DRDGold expecting rapid gold output from West Rand tailings project
DRDGold CEO Niél Pretorius talks to Mining Weekly Online’s Martin Creamer. Video: Creamer Media’s Nicholas Boyd. Photograph: Creamer Media’s Dylan Slater

Zijin trumps Lundin with C$1.86bn bid for Nevsun

By: Mariaan Webb     5th September 2018 Canadian miner Nevsun Resources on Wednesday announced that it had agreed to a C$1.86-billion friendly takeover by China’s Zijin Mining, as it seeks to fend off a hostile takeover by Lundin Mining. Zijin will shareholders C$6 a share in cash, representing a 57% premium over the company’s closing... 

Zijin trumps Lundin with C$1.86bn bid for Nevsun
Timok , in Serbia, is a sought-after copper development project.

Avocet transfers further 30% interest in Tri-K project to Managem SA

By: Marleny Arnoldi     5th September 2018 Aim-listed gold miner Avocet Mining has transferred the remaining 30% of its Tri-K gold project, in Guinea, to Managem SA – a Moroccan mining group listed on the Casablanca Stock Exchange. On October 10, 2016, Avocet announced that it had entered into an agreement with Managem, under which... 

Oxide ore processing starts at Çöpler

By: Creamer Media Reporter      5th September 2018 Canada’s Alacer Gold has started processing oxide ore through the crushing and grinding circuit of the newly constructed Çöpler sulphide plant, in Turkey. The remainder of the plant, including the acidulation, pressure oxidation and counter current decantation, will be started once the sulphide... 

Randgold ends Tongon employee lock-out, revises mine’s output guidance

By: Creamer Media Reporter      5th September 2018 While operations at LSE- and Nasdaq-listed Randgold Resources’ Tongon mine, in Côte d’Ivoire, have returned to normal on Wednesday, the company has revised the mine’s full-year production guidance downward to 230 000 oz of gold. It previously expected the mine to produce 290 000 oz of gold this... 

Sibanye-Stillwater concludes $450m convertible bonds tender process

By: Marleny Arnoldi     5th September 2018 JSE- and NYSE-listed precious metals miner Sibanye-Stillwater has announced the conclusion of its invitation to tender convertible bonds for purchase up to the aggregate principal amount of $50-million in aggregate purchase price to holders of its $450-million 1.8% guaranteed unsecured... 

Coeur declares commercial production at BC silver/zinc mine

By: Mariaan Webb     5th September 2018 The Silvertip silver/zinc/lead project that Coeur Mining bought less than a year ago, has entered commercial production on September 1, prompting the NYSE-listed company to revise its full-year guidance. Coeur bought the mine, located in northern British Columbia, in October 2017 and started... 

DRDGold shares leap on higher-grade fillip 

By: Martin Creamer     5th September 2018 A 10% increase in gold production provided an important fillip for surface gold mining company DRDGold, which benefitted from high-grade sand material in the 12 months to June 30. The Johannesburg- and New York-listed company, which saw its share price rise by 6.09% in early morning trade,... 

DRDGold shares leap on higher-grade fillip
DRDGold CFO Riaan Davel talks to Mining Weekly Online’s Martin Creamer. Video: Creamer Media’s Nicholas Boyd. Photographs: Creamer Media’s Dylan Slater.

DRDGold operating profit up

By: Martin Creamer     5th September 2018 Surface gold producer DRDGold on Wednesday reported a sharp rise in operating profit, higher gold production and a spurt of cash flow. The Johannesburg and New York-listed company chalked up 38% more operating profit to R355.2-million, a 10% increase in gold production to 4 679 kg and a free cash... 

DRDGold operating profit up

Endeavour sells Mali mine for $60m

By: Mariaan Webb     4th September 2018 TSX-listed Endeavour Mining has agreed to sell another mine to BCM Investments, this time the Tabakoto mine, in Mali. Endeavour on Tuesday announced a binding agreement to sell Tabakoto to Algom Resources – a subsidiary of BCM – for $60-million. Last year, the company sold the Nzema mine, in... 

Kefi receives key govt consents for Tulu Kapi development

By: Creamer Media Reporter      4th September 2018 The Ethiopian government has granted the key development and financing policy approvals for Aim-listed Kefi Minerals’ Tulu Kapi gold project. The project had already been granted development, social, environmental and operational approvals in 2015. 

Evolution provides three-year outlook

By: Esmarie Iannucci     4th September 2018 Gold producer Evolution will be prioritising margins over production growth in the next three years, with the miner projecting a decrease in output over the next three years. The company stated that it would produce about 700 000 oz/y for at least the next three years, compared with 801 187 oz... 

Sibanye launches $400m bond buyback

By: Reuters     4th September 2018 South African precious metals producer Sibanye-Stillwater, which is headed up by CEO Neal Froneman, said on Tuesday that it was launching a tender offer worth up to $400-million to buy back some of its bonds. Sibanye, which plans to buy platinum producer Lonmin in a deal scheduled to close in the... 

Sibanye launches $400m bond buyback
Photo by Creamer Media
Sibanye CEO Neal Froneman

Highland Gold’s H1 profit jumps 10%

By: Mariaan Webb     4th September 2018 Aim-listed Highland Gold on Tuesday posted net profit of $28.6-million in the first half of the year, a 10% increase on the prior-year period, despite flat revenue and lower metal sales. Revenue came in at $146.9-million, despite metal sales falling from $128.5-million in the first half of 2017,... 

Highland Gold’s H1 profit jumps 10%

IronRidge strengthens management team as it transitions from explorer to developer

By: Simone Liedtke     3rd September 2018 Aim-listed IronRidge Resources continues to strengthen its management team as it transitions from explorer to developer, through securing key executives and senior managers for the next phase of the company’s project and corporate development. On Monday, CEO Vincent Mascolo committed to a further... 

ECR Minerals shares rise on Australia gold exploration update

By: Mariaan Webb     3rd September 2018 London-listed ECR Minerals believes there is potential for a significant gold discovery at its Blue Moon gold project in Victoria, Australia, and will initiate a deeper reverse circulation drilling programme in the coming months to test the prospect’s potential. The company said on Monday that... 

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