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Gold News

Acacia Mining says employee in Tanzania charged with corruption

By: Reuters     11th October 2018 London-listed Acacia Mining said on Thursday an employee at its North Mara mine in Tanzania was charged with corruption but plead not guilty and has been granted bail. The employee was "responsible for signing cheques for approved payments made by NMGML at the time, including a cheque regarding... 

Anglo Asian sees FY output at upper-end of guidance

By: Mariaan Webb     11th October 2018 An “excellent” third quarter has positioned Anglo Asian to not only meet its 2018 production guidance, but to achieve the upper-end of its target range of 78 000 oz to 84 000 oz of gold equivalent. The London-listed miner, which operates the Gedabek mine in Azerbaijan, on Thursday reported... 

Anglo Asian sees FY output at upper-end of guidance
Anglo Asian's Gedabek mine

Gold gets ignored as global equity rout fails to fire up havens

By: Bloomberg     11th October 2018 Equities are plummeting, President Donald Trump says the Federal Reserve’s gone ‘loco’ and the trade war’s heating up, yet traditional havens in times of trouble such as gold are not getting any love. The biggest selloff in equities since February rolled through Asia and into Europe on Thursday,... 

Drought forces two-month closure of Leagold Brazil mine

By: Mariaan Webb     11th October 2018 Latin America-focused Leagold on Wednesday announced a two-month shutdown of its RDM mine, in Brazil, citing continued regional drought conditions. In 2017, the RDM mine was closed on August 11 and restarted, on an intermittent basis, in early November with the onset of the region's rainy season. 

Tribe opposes Midas’ proposed Stibnite project

By: Mariaan Webb     11th October 2018 The Nez Perce Tribe has formally adopted a resolution opposing the Stibnite gold project, that TSX-listed Midas Gold is advancing in the Valley county, Idaho, over concerns relating to the potential impact of mining on natural resources. Midas CEO Stephen Quin has expressed the company’s... 

Chile's Supreme Court signals death knell for Kinross gold mine

By: Reuters     11th October 2018 Chile's Supreme Court upheld an environmental order for a gold mine owned by Canada's Kinross Gold Corp to close its water pumping wells, the environmental regulator said on Wednesday, bringing the curtain down on a long-running dispute that sparked the Toronto-based miner's retreat from Chile.... 

A$60m Mt Carlton underground mine wins board approval

By: Esmarie Iannucci     11th October 2018 The board of gold miner Evolution Mining has approved the A$60-million development of the Mt Carlton underground mine, in Queensland. The miner on Thursday told shareholders that the start of the underground development would require regulatory approvals, and submissions to the Department of... 

A$60m Mt Carlton underground mine wins board approval
Photo by Bloomberg
Evolution chairperson Jake Klein

Yaouré FEED study confirms pricing

By: Esmarie Iannucci     11th October 2018 A value engineering assessment (VEA) and the front-end engineering and design (FEED) study for the Yaouré gold project, in Cote d’Ivoire, has confirmed the 2017 cost estimates, ASX- and TSX-listed Perseus Mining reported. The 2017 definitive feasibility study (DFS) estimated that Yaouré would... 

Pacton buys into more Pilbara land

By: Esmarie Iannucci     11th October 2018 Canadian miner Pacton Gold has entered into a binding letter of intent with ASX-listed Clancy Exploration over the Hong Kong project, in the Pilbara. Under the letter of intent, Pacton would acquire a 70% interest in the Hong Kong project for a total of C$1.7-million, comprising a C$25 000... 

Barrick Gold maintains 2018 gold and copper guidance

By: Mariaan Webb     11th October 2018 NYSE- and TSX-listed Barrick Gold has maintained its 2018 production guidance at 4.5-million to 5-million ounces and its copper guidance at 345-million to 410-million pounds, after reporting preliminary third-quarter production results. The miner, which recently agreed to buy London-listed... 

Barrick Gold maintains 2018 gold and copper guidance
The Lumwana copper mine in Zambia.

Plea for govt to awaken to massive economic potential of mining  

By: Martin Creamer     10th October 2018 A plea for the government to awaken to the massive real potential of the South African mining sector was made on Wednesday by Eunomix CEO Claude Baissac, who decried the disincentivising of South African mining over the past 20 years as an inexplicable paradox and a massive mineral policy... 

Plea for govt to awaken to massive economic potential of mining
Eunomix CEO Claude Baissac talks to Mining Weekly Online’s Martin Creamer on South Africa’s massive mining opportunity loss. Video, Video Editing and Photographs: Christo Greyling.

Avesoro on track to convert 1Moz from resources to reserves

By: Marleny Arnoldi     10th October 2018 TSX- and Aim-listed Avesoro Resources has reported positive drill results from its Ouaré and Gassore West deposits, and the discovery of two mineralised vein systems that are 1.5 km east of the company’s Youga gold processing plant, in Burkina Faso. Avesoro aims to convert 1-million ounces of... 

Dollar shortage 'short-term problem' for miners in Zimbabwe – Minister

By: Reuters     10th October 2018 A dollar shortage that has sparked outrage from mining companies operating in Zimbabwe is a "short-term problem" that will be remedied by a stronger economy, the mines minister told Reuters. Zimbabwe is suffering acute shortages of US dollars, deterring foreign capital from helping the ailing... 

Tulu Kapi on track for 2019 construction start

By: Marleny Arnoldi     10th October 2018 Aim-listed Kefi Minerals made progress with preparations for the development of its Tulu Kapi project, in Ethiopia, in the third quarter ended September 30. Project development funding has been secured through the Ethiopian government, which committed $20-million over 2019 and 2020 to fund... 

Monarques to graduate to TSX

By: Creamer Media Reporter      10th October 2018 Emerging gold miner Monarques, which focuses its growth efforts in the Abitibi mining camp of Quebec, has received conditional approval to move its listing to the TSX. The listing is subject to compliance of all TSX requirements by December 30, the company, which is currently listed on the... 

Coeur maintains guidance despite lower Q3 output

By: Mariaan Webb     10th October 2018 NYSE-listed miner Coeur Mining has maintained its production guidance for the year, despite reporting lower third-quarter production results, at 8.5-million ounces of silver equivalent. The company, which owns mines in Mexico, the US and Canada, produced 2.9-million ounces of silver, 88 833 oz... 

Coeur maintains guidance despite lower Q3 output
Palmajero in Mexico

Platreef Shaft 1 intersects Flatreef deposit at 780 m below surface

By: Creamer Media Reporter      10th October 2018 Shaft 1 at Ivanplats’ Platreef project has reached the top of the high-grade Flatreef deposit at 780.2 m below surface. This is the first time that the Platreef – a strongly mineralised, polymetallic belt that extends northward from the town of Mokopane for more than 30 km – has been intercepted... 

Platreef Shaft 1 intersects Flatreef deposit at 780 m below surface

Kirkland Lake output exceeds targeted levels

By: Mariaan Webb     9th October 2018 Triple-listed Kirkland Lake Gold has exceeded its production target for the third quarter, driven by record quarterly output from the Fosterville mine, in Australia, as well as a strong contribution from its Canadian operations – Macassa, Holt and Taylor. Third-quarter production increased to... 

Kirkland Lake output exceeds targeted levels
Kirkland Lake's Macassa mine, in Canada.

Scotgold raises cash for Grampian exploration

By: Creamer Media Reporter      9th October 2018 Aim-listed Scotgold has raised £750 000 by way of a direct subscription for 2 727 274 new ordinary at 27.5p each, to fund the further exploration of licences adjacent to its Cononish mine, in Scotland. The funds were raised from nonexecutive director William Styslinger and Jane Styslinger, who... 

Burundi gets 15% gold-mining stake amid minerals expansion plans

By: Bloomberg     9th October 2018 Burundi announced the start of operations of African Mining Burundi, a local gold miner in which the government has a 15% stake, as the East African nation puts its mineral resources at the center of a planned economic resurgence. The company has been granted rights to nine mining sites,... 

Brucejack Q3 gold output up 13%

By: Mariaan Webb     9th October 2018 TSX- and NYSE-listed Pretium Resources increased its gold production at the Brucejack mine, in British Columbia, by nearly 13% in the third quarter, standing the company in good stead to meet its second-half production guidance. The mine produced 92 641 oz of gold in the third quarter, which... 

Avesoro’s Q3 production in line with expectations

By: Tasneem Bulbulia     9th October 2018 West African gold producer Avesoro Resources produced 47 177 oz of gold from its New Liberty mine, in Liberia, and its Youga gold mine, in Burkina Faso, in the quarter ended September 30, bringing year-to-date gold production to 175 496 oz. Ore mining rates increased at both New Liberty and Youga... 

RioZim to sue central bank over dollar payments

By: Reuters     9th October 2018 Zimbabwe's gold miner RioZim on Tuesday said it would take legal action to force the central bank to pay it in US dollars for part of its output, signalling impatience by mining companies over acute dollar shortages afflicting the economy. The shortages have worsened since 2016 and are the... 

Kin raises more cash for Leonora

By: Esmarie Iannucci     9th October 2018 ASX-listed Kin Mining is hoping to raise a further A$10.4-million for its Leonora gold project, in Western Australia. Kin on Tuesday announced a two-for-five pro-rata non-renounceable entitlement offer priced at 8c a share. The offer price represented an 11% discount to the last trading price of... 

Las Lagunas facing steep power costs

By: Esmarie Iannucci     9th October 2018 ASX-listed PanTerra Gold has warned that operating costs at its Las Lagunas gold tailings retreatment project, in the Dominican Republic, would increase by some $200 000 a month for up to the next six months. The announcement comes after the company received advice from its contracted power... 

Genesis adds to Ulysses resource

By: Esmarie Iannucci     9th October 2018 Gold developer Genesis Minerals has reported a 137% increase in the total mineral resource at its Ulysses gold project, in Western Australia. The project is now estimated to host some 760 000 oz of gold, up from the previous estimate of 321 000 oz.  

Gold nudges up on risk aversion amid China worries

By: Reuters     9th October 2018 Gold prices edged higher on Tuesday as risk appetite fell, with Asian stocks slipping to 17-month lows amid concerns over a potential slowdown in China's economic growth. Spot gold was up 0.2% at $1 189.58/oz at 07:15 GMT. On Monday, it fell 1.2%, its biggest one-day percentage fall since August... 

Chinese delegation to witness proudly South African logging system 

By: Martin Creamer     8th October 2018 The high-ranking delegation from China, which is due to arrive in South Africa next Monday to undertake a three-week study of South Africa’s globally recognised mineral reporting codes, will be given insight during their visit into a South African borehole logging system that is poised to go... 

Chinese delegation to witness proudly South African logging system
Samcodes Standards Committee chairperson Matt Mullins interviewed by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd. Photographs: Dylan Slater.

Kefi gets Ethiopian government go-ahead for community resettlement plan

By: Marleny Arnoldi     8th October 2018 Aim-listed Kefi Minerals has received approval from Ethiopian authorities to proceed with the resettlement of the Tulu Kapi community, surrounding the company’s Tulu Kapi mine. Preparatory activities for the resettlement will now turn to an exhaustive community communication and consultation... 

North Mara mine drives Acacia’s increased FY guidance to more than 500 000 oz

By: Marleny Arnoldi     8th October 2018 Africa-focused gold miner Acacia Mining has increased its full-year production guidance to more than 500 000 oz, from between 435 000 oz and 475 000 oz previously, owing to strong production of 391 000 oz gold in the nine months ended September 30. Acacia interim CEO Peter Geleta stated on... 

North Mara mine drives Acacia’s increased FY guidance to more than 500 000 oz

Harmony agrees to pay R30m to settle FCSA dispute

By: Marleny Arnoldi     8th October 2018 JSE- and NYSE-listed Harmony Gold has reached a settlement with the Financial Sector Conduct Authority of South Africa (FCSA), related to the company’s financial results for the quarter ended March 31, 2007. Harmony states that the results for that quarter, at that stage unbeknownst to the... 

Provincial enviro nod for IDM’s Red Mountain

By: Mariaan Webb     8th October 2018 The Red Mountain gold and silver underground mine, in the Nass Wildlife area of British Columbia, is one step closer to development, with the provincial government granting the project environmental approval. Environment and Climate Change Strategy Minister George Heyman and Energy, Mines and... 

Provincial enviro nod for IDM’s Red Mountain
The Red Mountain project is located in the Nass Wildlife Area of British Columbia.

St Barbara and Australian Potash enter into gold exploration venture

By: Esmarie Iannucci     8th October 2018 Gold miner St Barbara has struck an earn-in and joint venture (JV) agreement with fellow-listed Australian Potash over the Lake Wells project, in Western Australia. Under the terms of the agreement, St Barbara will pay A$1.25-million in cash and will spend a minimum of A$1.75-million over an... 

Edna May continues as stand-out for Ramelius

By: Esmarie Iannucci     8th October 2018 Gold miner Ramelius Resources has reached its production targets in the three months to September, producing 51 428 oz of gold. The miner on Monday said that the quarterly production was well within the guidance of 50 000 oz to 54 000 oz set out for the quarter.  

Village Main Reef, three unions conclude wage agreement

By: Simone Liedtke     5th October 2018 Village Main Reef has concluded a wage agreement with the National Union of Mineworkers (NUM), Solidarity and Uasa in respect of wages and conditions of service for the period from July 1, 2018, to June 30, 2021. The Association of Mineworkers and Construction Union (AMCU) is still considering... 

Resolute hedges more gold for Ravenswood expansion

By: Esmarie Iannucci     5th October 2018 Gold miner Resolute Mining has hedged another 35 000 oz of gold, at an average price of A$1 728/oz, taking advantage of the strong Australian dollar gold price to support the expansion project at its Ravenswood mine. The miner on Friday said that the additional 35 000 oz is scheduled for monthly... 

Cowal expansion could come sooner - Evolution

By: Esmarie Iannucci     5th October 2018 The New South Wales Department of Planning and Environment has approved gold miner Evolution Mining’s plans to increase the processing rate at its Cowal plant by 31%, from 7.5-million tonnes a year to 9.8-million tonnes a year. “This approval is a significant step towards achieving our objective... 

Canada’s Galane buys Andy Well from Doray

By: Esmarie Iannucci     5th October 2018 Gold miner Doray Minerals will divest of its Andy Well gold project, in Western Australia, to Canadian gold miner Galane Gold for A$10-million. Under the terms of the binding sale and purchase agreement, Doray will be paid A$3-million in cash up-front, along with A$1-million worth of Galane... 

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