R/€ = 16.96 Change: 0.13
R/$ = 14.48 Change: 0.16
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Pt 823.50 $/oz Change: 6.16

Gold News

Unisa, Mintek officially launch shared imaging facility

By: Nadine James     10th August 2018 The University of South Africa (Unisa) and Mintek officially launched their shared Materials Imaging Laboratory, and specifically their recent acquisition of an X-ray microscope (XRM), which enables both institutions to carry out advanced mineral and material research. In 2017, Unisa and Mintek... 

Randgold's Q2 profit, output inch higher

By: Reuters     9th August 2018 African miner Randgold Resources maintained its 2018 targets on Thursday after it reported a rise in second-quarter profit and production, citing a good performance at its Kibali mine in the Democratic Republic of Congo. In the three months to June 30, production rose 9% compared to the previous... 

Randgold's Q2 profit, output inch higher
Photo by Creamer Media
Randgold Resources CEO Mark Bristow

Newcrest warns of further impairments

By: Esmarie Swanepoel     9th August 2018 Gold miner Newcrest Mining has warned of a non-cash impairment of between A$260-million and A$270-million for the 2018 financial year. Some A$190-million of the write-off is attributed to the Telfer gold mine, in Western Australia, where the latest life-of-mine plan indicated lower levels of ore... 

WPG appoints receivers

By: Esmarie Swanepoel     9th August 2018 South Australian gold miner WPG Resources has gone into receivership. The company told shareholders this week that receivers were appointed following a default of the group on a A$20-million debt facility with services provider Byrnecut Group. 

Doray output not at risk - Junk

By: Esmarie Swanepoel     9th August 2018 Gold miner Doray Minerals told shareholders on Thursday that the temporary interruption to underground mining activities at its Deflector operation, in Western Australia, was not expected to affect the production guidance at the mine. While underground operations have been temporarily suspended... 

Omagh processing plant starts operating

By: Creamer Media Reporter      8th August 2018 The recently upgraded processing plant at the Omagh gold mine has started operating, using feed from the underground development of the Kearney gold vein, Toronto- and London-listed Galantas Gold reported on Wednesday. The processing plant is expected to operate part time until production... 

B2Gold reports positive Q2, H1 operational, financial performance

By: Nadine James     8th August 2018 TSX-listed B2Gold Corporation on Wednesday reported strong operational and financial results for the second quarter and first half of 2018. The company achieved record gold production of 240 093 oz for the second quarter, a 98% year-on-year increase, and 7% above budget, owing to consistently... 

Fortuna’s Lindero project still set for start of commercial operations in Q3 2019

By: Nadine James     8th August 2018 Construction of Fortuna Silver Mines’ Lindero gold project, in Argentina, has been delayed slightly, but the Canadian miner still expects commercial operations to start during the third quarter of 2019. Fortuna president, CEO and director Jorge Ganoza on Tuesday noted that delays in the building... 

Gold Fields expects to report lower H1 basic earnings a share

By: Marleny Arnoldi     8th August 2018 JSE- and NYSE-listed miner Gold Fields has advised that its basic earnings a share for the six months ended June 30 are expected to be at least 20% lower than the $0.07 reported for the six months ended June 30, 2017. The company will release its interim financial results on August 16.  

Helios takes option over Bronzewing South

By: Esmarie Swanepoel     8th August 2018 Junior Rox Resources’ subsidiary Helios Gold has taken an option to acquire the Bronzewing South gold project, in Western Australia, from privately held Carnegie Exploration. Under the terms of the option agreement, Helios will pay a non-refundable cash deposit of A$20 000 for the six-month... 

Glencore darts ahead of diversified rivals

By: Martin Creamer     8th August 2018 The strength of the business model and commodity mix of mining and marketing company Glencore has been demonstrated once again by sharp increases in earnings and net income in the six months to June 30. The earnings before interest, taxes, depreciation and amortisation (Ebitda) of the 146... 

Glencore darts ahead of diversified rivals
Glencore CEO Ivan Glasenberg

Ink dries on Sandfire-Talisman deal

By: Esmarie Swanepoel     8th August 2018 Copper/gold miner Sandfire Resources has signed a binding conditional sale and purchase agreement with fellow-listed Talisman Mining to acquire its 30% interest in the Springfield exploration and mining joint venture (JV), in Western Australia, for A$72.3-million. The two companies in June this... 

Fire suspends Deflector underground ops

By: Esmarie Swanepoel     8th August 2018 Gold miner Doray Minerals has reported a fire at its Deflector gold/copper mine, in Western Australia. The ASX-listed miner said that while the extent of the fire, which involved an underground loader was still being investigated, all underground workers were safe, uninjured, and have returned... 

Global gold-backed ETF holdings fall significantly in July

By: Nadine James     7th August 2018 Holdings in global gold-backed exchange-traded funds(ETFs) and similar products fell by 39 t to 2 394 t in July, the World Gold Council (WGC) reported on Tuesday. This has pushed assets under management (AUM) in down to $94-billion from $98-billion in June. 

Copper Mountain mine’s Q2 output jumps

By: Mariaan Webb     7th August 2018 Canadian miner Copper Mountain has reported higher production at its 75%-owned namesake mine, in British Columbia, with the operation producing 20-million pounds of copper, 6 500 oz of gold and 68 400 oz of silver in the second quarter of this year. The production compares with 17.2-million... 

Permitting clock starts ticking at Anaconda’s Goldboro project

By: Mariaan Webb     7th August 2018 TSX-listed gold miner and explorer Anaconda has filed the registration document for its Goldboro project with the Nova Scotia Department of Environment, marking the start of the permitting process and getting the company one step closer to its aim of reaching the preproduction stage in 2020. The... 

Seafloor miner Nautilus says CEO quits

By: Creamer Media Reporter      7th August 2018 TSX-listed ocean floor miner Nautilus on Tuesday announced that president and CEO Mike Johnston had resigned with immediate effect and that independent director John McCoach had taken over as interim CEO. Nautilus chairperson Tariq Al Barwani thanked Johnson for his long service with the... 

New silver bullion Krugerrand goes on sale

By: Creamer Media Reporter      7th August 2018 The new silver bullion Krugerrand went on sale this week and is expected to generate significant interest, says Prestige Bullion, a joint venture between Rand Refinery and the South African Mint. The silver Krugerrand is Prestige Bullion’s first foray into silver and its introduction makes this... 

New silver bullion Krugerrand goes on sale

Matador's Cape Ray gets maiden resource

By: Esmarie Swanepoel     7th August 2018 ASX-listed Matador Mining has reported a maiden mineral resource of 750 000 oz at its Cape Ray gold project, in Canada. The project is also estimated to host some 2.7-million ounces of silver. 

RenGold in Nevada sublease deal with Newmont

By: Creamer Media Reporter      7th August 2018 Western US focused prospect generator junior Renaissance Gold (RenGold) has entered into a mining sublease agreement with gold major Newmont, covering about 1 120 acres of mineral rights adjacent to claims on its Ecru project, in Nevada. The Ecru project is located in the Cortez area on the... 

Continental Resources inks deal with mineral royalty manager

By: Reuters     7th August 2018 Shale oil producer Continental Resources said on Monday that it formed a subsidiary to manage mineral royalties with Franco-Nevada Corp, part of Continental's plan to diversify revenue sources. Mineral rights are often less-risky investments than drilling wells, which can carry large... 

West African appoints executive to oversee Sanbrado development

By: Simone Liedtke     6th August 2018 As ASX- and TSX-V-listed West African Resources moves into the development phase at its 90%-owned Sanbrado gold project, in Burkina Faso, the gold developer has also announced a key management appointment and project update. Matthew Wilcox will join the West African executive team as chief... 

Mining convention for Nordgold’s Lefa mine renewed

By: Simone Liedtke     6th August 2018 Republic of Guinea President Alpha Condé has signed the Decree of Promulgation of the Amendment Agreement for the renewal of the mining convention for diversified gold producer Nordgold subsidiary Société Minière de Dinguiraye’s (SMD’s) Lefa mine. The mining convention determines the taxation and... 

Vast expects subsidiary to be granted Baita Plai association licence soon

By: Simone Liedtke     6th August 2018 Aim-listed mining company Vast Resources, its 80%-subsidiary African Consolidated Resources (AFCR) and Romanian State-owned Baita, the holder of the Baita Plai licence, have submitted a joint formal application to Romania’s National Agency for Mineral Resources (ANRM) for the grant to AFCR of an... 

Updated study increases Frieda River mine life, production forecast

By: Esmarie Swanepoel     6th August 2018 The Frieda River copper/gold project, in Papua New Guinea, could produce more copper and gold over a longer period than previously thought, ASX-listed Highlands Pacific reported on Monday. Highlands, which owns a 20% interest in the joint venture (JV) project, told shareholders that partner... 

Dacian adds to Mt Morgans resource

By: Esmarie Swanepoel     6th August 2018 Junior gold miner Dacian Gold has reported an 11% increase in the indicated resource at its Mt Morgans gold project, in Western Australia. A maiden mineral resource estimate of 245 000 oz has been declared at the Cameron Well deposit, with the project’s total measured and indicated resource now... 

Beadell raises funds for Tucano plant

By: Esmarie Swanepoel     6th August 2018 Gold miner Beadell Resources will raise some A$11.8-million through a share placement to international institutional and sophisticated investors to fund the ongoing mill expansion at the Tucano project, in Brazil. The ASX-listed company will issue some 218.3-million fully paid ordinary shares,... 

Sihayo to cost $58.7m

By: Esmarie Swanepoel     6th August 2018 An updated feasibility study (FS) into the Sihayo gold project, in Indonesia, has increased the expected capital cost from the $58.7-million estimated in the start of 2014, to $153-million. However, with an increase in the mineral resource estimate, the project is now expected to recover some... 

Yandal Stage 1 gets approved

By: Esmarie Swanepoel     6th August 2018 The board of ASX-listed Echo Resources has conditionally approved the development of the Stage 1 Yandal gold project, in Western Australia, following a positive bankable feasibility study (BFS). The BFS considered a staged approach to develop the Yandal mine, allowing Echo to mine the... 

Condor completes permitting process for new mine in Nicaragua

By: Mariaan Webb     6th August 2018 Despite the political protests in Nicaragua, in which more than 300 people have died since mid-April, British firm Condor Gold has reiterated its commitment to building and operating a $120-million gold mine, announcing on Monday that it had completed a three-year permitting process. The Aim-... 

Condor completes permitting process for new mine in Nicaragua
Condor's La India project, in Nicaragua

Gold may hit $1 300 by end of year, ICBC says

By: Bloomberg     6th August 2018 Gold’s plunge to the lowest level in more than a year may be close to ending, and prices could climb back to $1 300 by December, according to ICBC Standard Bank. Bullion is set to average $1 26/oz in the third quarter and rise further in the following three months as interest rate increases are... 

Completion of Back Forty feasibility study signals significant milestone for Aquila

By: Simone Liedtke     3rd August 2018 A feasibility study, compiled by Lycopodium Minerals Canada, has been completed on TSX-listed Aquila Resources’ 100%-owned zinc- and gold-rich Back Forty project, in Michigan, in the US. Citing the completion of the Back Forty project’s feasibility study as a “significant milestone for Aquila”,... 

First Mining grants Gainey option over Mexico property

By: Marleny Arnoldi     3rd August 2018 TSX-V-listed Gainey Capital has signed an option agreement to earn a 100% interest in TSX-listed First Mining Gold’s Las Margaritas gold prospect, in Mexico. The project comprises two mineral concessions encompassing a total of 500 ha.  

Equinox’s Brazil mine on track to pour gold before year-end

By: Marleny Arnoldi     3rd August 2018 Vancouver-based Equinox’s Aurizona gold mine, in Brazil, is on track to achieve year-end 2018 gold pour, with the overall project being 60% complete and plant construction being 51% complete at the end of June. Installation of semi-autogenous grinding and ball mills is under way and ore... 

Sibanye-Stillwater to swing to H1 profit

By: Marleny Arnoldi     3rd August 2018 Precious metals producer Sibanye-Stillwater’s Southern Africa platinum group metals (PGMs) operations have produced about 569 000 oz of platinum, palladium, rhodium and gold (4E) PGMs at an all-in sustaining cost (AISC) of about R10 110/oz for the six months ended June 30. This means Sibanye is... 

Kabwe project on track despite cancellation of BMR’s share trading

By: Anine Kilian     3rd August 2018 The cancellation of admission to trading on Aim of BMR’s shares does not impact the execution of the Kabwe project, Jubilee Metals said on Friday.   BMR and Jubilee have entered into discussions, with Jubilee having offered to fully fund the completion of the Kabwe project against an immediate... 

Managem seeks additional 30% of Avocet's Tri-K project

By: Anine Kilian     3rd August 2018 Aim-listed Avocet is assessing whether the conditions for the second closing of its Tri-K transaction with Managem have been met. Avocet announced in October 2016 that it had entered into an agreement with Managem for Managem to ultimately earn a 70% interest in the Tri-K gold project, in Guinea,... 

Erudite adopts a fresh approach to transformation 

By: Nadine James     3rd August 2018 Becoming a sustainable and relevant mining industry service provider requires a genuine effort to meet and address issues of localisation and transformation, while fostering local partnerships to develop extractive projects in African countries, suggests engineering, procurement and construction... 

Erudite adopts a fresh approach to transformation
Erudite chairperson Vince Raseroka and CE Johann de Bruin discuss the need for an African-focused EPCM mining services provider. Video: Darlene Creamer; Editing: Nicholas Boyd

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