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Gold News

Maximus looks to increase Burbanks throughput

By: Esmarie Swanepoel     19th April 2018 ASX-listed Maximus Resources is looking to increase throughput at its Burbanks treatment plant, in Western Australia, in 2019, following strong demand for toll milling capacity. The company told shareholders that it was currently reviewing the mill capacity of the 180 000 t/y conventional... 

Tanzania names chairperson for new mining commission

By: Reuters     19th April 2018 Tanzanian President John Magufuli on Wednesday appointed a chairperson and commissioners for the country's new mining commission, paving the way for the issuance of new mining licences. Africa's fourth-largest gold producer is seeking a bigger slice of the pie from its vast mineral resources by... 

Evolution hits record low costs

By: Esmarie Swanepoel     19th April 2018 Gold miner Evolution Mining has reported record low all-in sustaining costs of A$768/oz, with gold production also increasing slightly. Gold production during the three months to March was up to 191 474 oz, compared with the 186 488 oz produced in the previous quarter, with the Ernest Henry and... 

Hochschild shares rise on higher Q1 output

By: Henry Lazenby     18th April 2018 LSE-listed Hochschild Mining has reported higher-than-expected first-quarter production, as record output at the Inmaculada mine, as well as a strong result from the Pallancata mine – both located in Peru – buoyed output. During the three months ended March 31, Hochschild reported attributable... 

Altus raises C$4.11m in private placement

By: Creamer Media Reporter      18th April 2018 Aim-listed Altus Strategies has raised about C$4.11-million by way of a nonbrokered private placement of 27.39-million units at C$0.15 each. Each unit is comprised of one ordinary share and one ordinary share purchase warrant that may be used to buy one ordinary Altus share at C$0.30 for five... 

Dalgaranga still tracking ahead of schedule

By: Esmarie Swanepoel     18th April 2018 The Dalgaranga gold project, in Western Australia, remains one month ahead of schedule, ASX-listed Gascoyne Resources told shareholders, with the project due to start gold production in May. Gascoyne told shareholders on Wednesday that process plant construction at Dalgaranga was 98% complete,... 

Awak Mas gets maiden reserve

By: Esmarie Swanepoel     18th April 2018 Junior gold developer Nusantara Resources has reported a maiden ore reserve of one-million ounces at its Awak Mas gold project, in Indonesia. “Our maiden ore reserve represents a significant milestone for the company and now places Nusantara among an elite group of ASX-listed gold development... 

Polymetal’s new mine slightly ahead of schedule, Q1 output up

By: Mariaan Webb     18th April 2018 Construction activities at the new Kyzyl mine, which LSE-listed Polymetal is building in Kazakhstan, are slightly ahead of schedule, with commissioning brought forward by a couple of weeks. Dry commissioning of the processing plant would start on June 1, followed by first concentrate production... 

Polymetal’s new mine slightly ahead of schedule, Q1 output up
First concentrate is expected from the Kyzyl mine on August 1.

Crusader appoints new chairperson as it starts trading on Aim

By: Mariaan Webb     17th April 2018 Brazil-focused Crusader Resources on Tuesday announced the appointment of Andrew Vickerman as nonexecutive chairperson, following the company’s successful listing on the London Stock Exchange. Crusader’s issued share capital was admitted to trading on the Aim market on Monday, following the... 

Nanoclay technology being developed as possible means to treat AMD

By: Anine Kilian     17th April 2018 The Council for Scientific and Industrial Research (CSIR) is developing low-cost polymer-based adsorbents for the removal of toxic pollutants such as heavy metals, anions and organics, from wastewater, that could be applied in the treatment of acid mine drainage (AMD). AMD is the outflow of... 

Polyus says no change to business after US sanctions list

By: Reuters     17th April 2018 Polyus said on Tuesday that the inclusion on a US sanctions list of a member of the family that controls Russia's biggest gold producer would not lead to changes in the way the company conducted its business. Suleiman Kerimov was among several Russian tycoons targeted by a new list of US sanctions. 

W Resources plans to spin off or sell copper and gold assets

By: Mariaan Webb     17th April 2018 European mining project developer W Resources is considering spinning off or selling its copper and gold projects, as it increasingly focuses on its tungsten assets in Spain and Portugal. The company, which is advancing the La Parrilla tungsten mine in Spain, owns the São Martinho,... 

Polyus reports Q1 production, sales results

By: Mariaan Webb     17th April 2018 Russia’s largest gold miner Polyus has confirmed its 2018 full-year production guidance of 2.375-million to 2.425-million ounces, after reporting first-quarter production of 506 500 oz. The March-quarter performance is a 13% increase on production in the corresponding period of 2017, when output... 

Polyus reports Q1 production, sales results
Polyus CEO Pavel Grachev

Highland Gold profit up 37% to $66m

By: Mariaan Webb     17th April 2018 London-listed company Highland Gold on Tuesday posted a 37% increase in its net profit for 2017, as above-guidance production boosted revenue, costs were controlled and no impairment losses were reported. The company, which mines in the Khabarovsk, Chita and Chukotka regions of Russia,... 

Old Pirate gets new life with Ark Mines

By: Esmarie Swanepoel     17th April 2018 ASX-listed ABM Resources has entered into a letter of agreement with fellow listed Ark Mines, under which Ark would operate the Old Pirate gold project, in the Northern Territory. ABM MD Matt Briggs said on Tuesday that after a competitive and lengthy process, Ark provided the most attractive... 

Saracen ups full-year guidance

By: Esmarie Swanepoel     17th April 2018 Gold miner Saracen Mineral Holdings has increased its full-year production expectations on the back of record gold production during the March quarter. Gold production during the three months to March reached 98 886 oz, compared with 77 522 oz in the previous quarter, with the Carosue Dam... 

Downer EDI awarded A$660m Carrapateena contract

By: Esmarie Swanepoel     17th April 2018 Copper/gold miner Oz Minerals has awarded a A$660-million underground mining services contract to project house Downer EDI for the Carrapateena underground mine, in South Australia. The six-and-a-half year contract will comprise all underground mining activity, including site setup and... 

Vale achieves best-ever quarterly sales in Q1, despite slide in iron output

By: Henry Lazenby     17th April 2018 Brazilian diversified miner Vale has reported its best first-quarter iron-ore sales ever despite production of the iron-making ingredient slipping somewhat during the three-month period. The company reported that output during the quarter ended March 31 slipped 4.9% year-on-year to 81.95-million... 

Vale achieves best-ever quarterly sales in Q1, despite slide in iron output
Photo by Vale
Vale's massive new SD11 mine, in Brazil

Orosur implements cost cutting measures, lowers FY production target

By: Marleny Arnoldi     16th April 2018 TSX- and Aim-listed gold producer Orosur Mining on Monday lowered its production guidance to between 27 000 oz and 30 000 oz of gold, down from the initial 30 000 oz target at its San Gregorio (SG) mine, in Uruguay.  

Polymetal swaps Russian property for Kazakhstan deposit

By: Anine Kilian     16th April 2018 Gold miner Polymetal has reached an agreement with the Russian Copper Company in which it would exchange its Tarutin property, in Russia, for the East Tarutin property, in Kazakhstan. The asset-swap deal would give Polymetal an 85% stake in the East Tarutin property, which CEO Vitaly Nesis said... 

Anglo Asian delivers 26% production increase

By: Simone Liedtke     16th April 2018 Azerbaijan's top gold producer, Anglo Asian Mining, has delivered a 26% year-on-year increase in gold equivalent ounces in what CEO Reza Vaziri describes as an “excellent” first-quarter performance. Production in the first three months of the year is always the company’s lowest, owing to the... 

Cradle Arc to sell Zambia gold assets to Singa Holdings

By: Simone Liedtke     16th April 2018 Africa-focused base and precious metals exploration and production company Cradle Arc has entered into an option agreement to sell its Matala and Dunrobin gold assets, in Zambia, to Singa Holdings Zambia. The assets are currently held by Cradle Arc subsidiary Luiri Gold Mines. 

Q1 production on par with FY expectation for Ariana’s Turkish gold mine

By: Marleny Arnoldi     16th April 2018 The Kiziltepe joint venture (JV) mine, in which Aim-listed Ariana Resources holds 50%, lifted its first-quarter production by 8% quarter-on-quarter to 4 866 oz, augmented by an increase in gold recovery from the processing plant.  

Bluebird reports ongoing progress at South Korea mines

By: Anine Kilian     16th April 2018 Asia-focused Bluebird Merchants has commissioned a water-treatment plant at the Gubong mine, in South Korea. The plant will ensure that water being released from the mine, which Bluebird plans to reopen, meets acceptable standards. 

Perseus' production surges on Sissingue start

By: Esmarie Swanepoel     16th April 2018 Gold miner Perseus Mining has reported a surge in production for the three months to March after the Sissingue gold mine, in Cote d’Ivoire, started production in January. The Sissingue gold mine reached commercial production at the end of March. 

Shanta records maiden profit following strategy implementation

By: Natasha Odendaal     16th April 2018 Aim-listed Shanta Gold turned the profit tide in the year ended December 31, 2017, posting a maiden profit after tax of $4.2-million, compared with the 2016 loss after tax of $8-million. The East Africa-focused gold producer, developer and explorer posted an operating profit for the year of... 

AngloGold’s Venkat resigns to take top job at Vedanta Resources

By: Marleny Arnoldi     16th April 2018 Srinivasan Venkatakrishan (Venkat) will step down as CEO of gold miner AngloGold Ashanti on August 31 to take up the CEO position at diversified miner Vedanta Resources.  

AngloGold’s Venkat resigns to take top job at Vedanta Resources
Photo by Creamer Media
AngloGold Ashanti CEO Srinivasan Venkatakrishan

First ‘Resources for Future Generations’ conference to be held in Vancouver

By: Henry Lazenby     13th April 2018 The Resources for Future Generations conference (RFG2018) is scheduled to make its debut on the Canadian resource conference circuit between June 16 and 21, in Vancouver, and is shaping up to be an event unlike the myriad of competing forums held in Canada throughout the year. RFG2018 chairperson... 

First ‘Resources for Future Generations’ conference to be held in Vancouver
Photo by Resources for Future Generations Conference
RFG2018 chairperson John Thompson

Zimbabwe to sell shares in State-owned firms as part of reforms

By: Reuters     13th April 2018 Zimbabwe is looking to sell shares in 35 State-owned firms, including telecoms and mining entities in the latest step to revive the economy under new political leadership, Finance Minister Patrick Chinamasa said on Friday. President Emmerson Mnangagwa, who came to power in November after a de... 

Lionsgold moves to buy out other TRAC shareholders

By: Simone Liedtke     13th April 2018 Aim-quoted Lionsgold on Friday announced its £1.35m share-for-share offer to the remaining shareholders of TRAC Technology with a view to increasing Lionsgold's shareholding in Goldbloc from 55% to 100%. “Lionsgold intends to significantly increase its ownership from the current 55% of its... 

Bassari secures funding for Makabingui

By: Esmarie Swanepoel     13th April 2018 ASX-listed Bassari Resources is poised to develop the Makabingui gold project, in Senegal, after securing project financing. The company on Friday told shareholders that it had received approval of a credit facility requested from Coris Bank International for the Makabingui project, following... 

Excitement as ‘Wits-style’ gold is discovered in iron-ore hub, but geologist urges caution

By: Nadine James     13th April 2018 While there is no doubt that conglomerate gold has been discovered in the Pilbara, the broader understanding of this style of gold mineralisation in the Pilbara remains incomplete and, therefore, any comparisons with the Witwatersrand (Wits) basin are premature, states SRK Consulting geologist... 

Excitement as ‘Wits-style’ gold is discovered in iron-ore hub, but geologist urges caution

Shareholders give thumbs up for Leagold/Brio merger

By: Henry Lazenby     13th April 2018 The shareholders of both Leagold Mining and Brio Gold have voted in favour of a friendly $264-million all-scrip offer by Leagold to acquire Brio. Brio now intends to seek a final order approving the transaction from the Ontario Superior Court of Justice by next Tuesday. Assuming all other... 

Golden Star to explore potential new gold sites in Ghana

13th April 2018 Canadian gold miner Golden Star Resources, as part of its exploration strategy for 2018 will focus on understanding the deposits at the Wassa Underground gold mine, continue mineral resource expansion drilling at Prestea Underground gold mine and investigate five new underground targets, all in... 

Golden Star to explore potential new gold  sites in Ghana
EIGHT IN 2018 Golden Star Resources will explore eight potential gold sites and assess the viability of mining the sites

Juniors chalk up new gold discoveries in West Africa

By: Erin Steenhoff-Snethlage     13th April 2018 Canadian gold miner Ashanti Gold, Australian miner Tietto Minerals and Canadian miner Nexus Gold have made seven new gold discoveries between them in Mali, Ghana, Cote d’Ivoire and Burkina Faso. Ashanti Gold has identified three zones with gold deposits at the Anumso gold project in Ghana.... 

Juniors chalk up new gold discoveries in West Africa
Photo by Reuters
NEW DISCOVERIES Three mines have made seven new gold discoveries in West Africa

Newmont looks to the future in Ghana

13th April 2018 US gold major Newmont Mining, one of the top global gold producers, expects to put up a new growth project – Ahafo North – for funding approval in 2019, according to Newmont regional senior VP for Africa Alwyn Pretorius. Ahafo North, located 50 km north of the existing Ahafo gold operations, is a... 

Newmont looks to the future in Ghana
Photo by Reuters
NEWMONT’S FUTURE Newmont Mining views Ghana as a stable operating jurisdiction

Roxgold on track with Bagassi South project, ups Yaramoko output

13th April 2018 Canadian gold miner Roxgold has started construction at the Bagassi South gold project in south-western Burkina Faso, with development progressing according to plan. The environmental and social permitting as well as the compensation activities of the project have been completed. 

Roxgold on track with Bagassi South project, ups Yaramoko output
BREAKING GROUND Construction at the Bagassi South Expansion is under way and first ore production is expected in the fourth quarter of 2018

Semafo’s Boungou mine nearing completion

13th April 2018 West-Africa-focused gold miner and regional explorer Semafo’s Boungou gold mine, in Burkina Faso, is more than 87% complete, with the first gold pouring scheduled for the third quarter of 2018. The Boungou gold mine, located on a high-grade gold deposit in the Est region in southeastern Burkina... 

Semafo’s Boungou mine nearing completion
NEARLY THERE First gold is expected to be poured in the third quarter of 2018 at Semafo’s Boungou gold mine

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