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Gold News
Peel spin-out Saturn Metals starts trading on ASX
By: Megan van Wyngaardt 9th March 2018 West Australian gold explorer Saturn Metals started trading on the ASX on Friday, following an oversubscribed A$7-million initial public offering (IPO). The miner is a successful spin-out of ASX-listed Peel Mining’s West Australian gold assets encompassing the Apollo Hill project, which contains... →
Ghana, AngloGold agree to Obuasi redevelopment
9th March 2018 Gold mining company AngloGold Ashanti has signed the regulatory and fiscal agreements with the government of Ghana that will provide the framework for the redevelopment of the Obuasi gold mine, in Ghana, into a modern, productive mining operation, the company announced in a press release last... →
Gold’s Q4 recovery fails to dull 2017’s full year decline
9th March 2018 Despite gold demand rallying in the closing months of 2017, gaining 6% year-on-year in the fourth quarter to reach 1 095.8 t, overall demand for the full year fell by 7% to 4 071.7 t, compared with 2016, according to gold authority the World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’... →
MARKET TRENDS Gold bar investment was broadly stable in 2017, while coin investment slid 10%
Mauritania encourages new gold prospects
By: Tasneem Bulbulia 9th March 2018 Mauritania-based mining and exploration company Suricate Minerals is capitalising on the unexplored territories and the investor-friendly climate of the country to pioneer the development of gold deposits in north Mauritania, Suricate Minerals executive director Ahmed Hertani tells Mining Weekly.... →
Roads agency intensifies mining-sector engagement
By: Nadine James 9th March 2018 Following its successful participation at the 2018 Investing in African Mining Indaba, the Roads Agency Limpopo (RAL) hosted a stakeholder engagement and fundraising session with the mining industry in the Sekhukhune district municipality last month at Lapeng Guest Lodge in Burgersfort, Limpopo.... →
State revenues from extractive industries increasing in Mozambique
By: Rebecca Campbell 9th March 2018 The extractive industry – oil, gas and mining – now provides the Mozambican State with 4.1% of its revenues from taxation. This figure was released by the country’s Director General of Tax, Augusto Tacarindua, at a recent seminar in Maputo on taxing extractive industries. In the past, the sector... →
Apollo will now hold 100% in Couflens project
By: Megan van Wyngaardt 8th March 2018 ASX-listed Apollo Minerals has entered into an agreement to acquire the remaining 20% interest in the Couflens tungsten/copper/gold project in the Pyrenees region of southern France from ASX-listed Variscan Mines. Apollo would then own 100% of the Couflens project, which covers a 42 km2 licence... →
Congo's Kabila to sign new mining code soon after meeting with miners
By: Reuters 8th March 2018 Democratic Republic of Congo President Joseph Kabila will soon sign into law a new mining code, the government and the country's mining companies said on Wednesday. The code has been vigorously opposed by the miners. The announcement followed a nearly six-hour meeting between Kabila and mining... →
DRC President Joseph Kabila
Record production for gold miner Blackham
By: Creamer Media Reporter 8th March 2018 The turnaround that started in December at the Matilda-Wiluna gold operation, in Western Australia, has delivered another record month of gold production for junior miner Blackham. The miner in late December gained access to high-grade zones in the M4 and Galaxy pits, which enabled record... →
'Suds' strategy pays through the drill bit as Osisko aims at replicating Canadian Malartic success
By: Henry Lazenby 8th March 2018 Celebrated Canadian precious metals firm Osisko Mining is aiming to replicate the success of its 9.4-million-ounce Canadian Malartic gold mine discovery – currently Canada's largest producing gold mine – at its flagship Windfall Lake property, located in the Abitibi greenstone belt of Quebec. The... →
Osisko Mining chairperson Sean Roosen during a keynote address at PDAC 2018, in Toronto
World's biggest mining show draws huge crowd, signalling mining investment optimism
By: Henry Lazenby 7th March 2018 The Prospectors & Developers Association of Canada's (PDAC's) 2018 convention, in Toronto, drew an international crowd of 25 606 people, in what is widely considered as a clear sign that optimism is returning to the mineral exploration and mining industry following several years of turmoil.... →
Multimillion-rand processing plant reinvigorates the old Zincor Refinery
By: Nadine James 7th March 2018 Vele Private Equity (VPE), a wholly owned subsidiary of Vele Investments, on Wednesday officially launched a multimillion-rand zinc processing plant aimed at processing one of four remaining tailing dumps at the old Zincor Refinery, in Springs, east of Johannesburg. The launch was attended by... →
EBM raised R140-million from international investors for the construction of the plant. VPE will be contributing R20-million to cover the remaining plant cost.
Trans-Siberian appoints new MD for operating subsidiary
By: Creamer Media Reporter 7th March 2018 Gold miner Trans-Siberian has appointed a new MD for its operating subsidiary ZAO Trevozhnoye Zarevo with immediate effect. Konstantin Kornienko will succeed Mikhail Nikitin, who led the construction and commissioning of the Asacha gold mine and its production operations thereafter. →
Echo identifies new gold exploration area
By: Anine Kilian 7th March 2018 ASX-listed Echo Resources has identified a new, highly-prospective exploration area within its 1 600 m2 landholding in the Yandal gold belt, after the company identified a number of targets and geological controls based on recent gravity surveys completed within its tenement areas. The project... →
Tanga starts drilling for zinc in Namibia
By: Anine Kilian 7th March 2018 ASX-listed Tanga Resources, which is exploring for gold in Tanzania, has now also started a search for zinc in Namibia, with the company announcing the start of drilling at its recently acquired Joumbira project. A diamond drilling programme is planned for four holes, totalling about 600 m,... →
UBS warns of 'deep trade war' as commodity giant sees no winners
By: Bloomberg 7th March 2018 Raw materials are at great risk as Donald Trump’s White House prepares to pull the trigger on tariffs. UBS Group warned metals to energy will be hurt should US levies spark a global trade war, while commodity powerhouse Australia forecast only a damaging race to the bottom. “Obviously, going... →
HGM raises $4.5m for Austrian projects
By: Megan van Wyngaardt 7th March 2018 Australian exploration company High Grade Metals (HGM), which completed its relisting on the ASX this week, will use the A$4.5-million that it raised to advance nine projects in Austria. These projects include the Leogang cobalt, nickel and copper prospect, as well as the Schellgaden North gold... →
Australia's gold production may rise to record - report
By: Reuters 7th March 2018 Gold output from Australia, the world’s second-largest producer, may rise to a record as a stream of new projects comes on line, Australian mining consultancy Surbiton Associates said on Sunday. Australian gold miners, among the lowest cost globally, have enjoyed high margins in recent years,... →
Volcanic Gold Mines looks at Côte d’Ivoire for growth
By: Megan van Wyngaardt 6th March 2018 TSX-V-listed Volcanic Gold Mines has entered into a binding memorandum of understanding to acquire up to 100% of Jofema Mineral Resources, a private company registered in Côte d’Ivoire. The assets of Jofema under option comprise near-adjacent exploration permits and exploration permit renewals... →
Gold-backed ETFs lose 5.1 t in Feb
By: Henry Lazenby 6th March 2018 The latest data from the World Gold Council (WGC) shows that gold-backed exchange-traded funds (ETFs) have lost 5.1 t of yellow metal during February, but in total added 25.3 t during the first two months of the year. The inflow over the two-month period was mainly boosted by a 10% increase by... →
Auroch acquires South Australia zinc projects
By: Schalk Burger 6th March 2018 JOHANNESBURG (miningweekly.com) – ASX-listed Auroch Minerals on Tuesday announced that it had acquired 90% of the Arden and 100% of the Bonaventura zinc projects, in South Australia. “The Arden project and Bonaventura project comprise a substantial zinc, lead and copper play supported by... →
Kabila meeting with mining companies postponed until Wed
By: Reuters 6th March 2018 Democratic Republic of Congo President Joseph Kabila's plan to discuss proposed changes to mining royalties with mining company representatives on Tuesday was postponed by a day, a government minister said. No reason was given for the decision to delay the meeting. →
Mining-specific staff recruitment, management app developed 
By: Mia Breytenbach 6th March 2018 To refine and improve the execution of recruitment within the mining industry, mining and engineering professionals recruiter TrueVine Consulting has developed a new, innovative online recruitment platform, called Digger. “Digger is a digital recruitment, talent management and staff retention... →
Crusader updates Borborema resource
By: Megan van Wyngaardt 6th March 2018 A revised ore reserve estimate at Crusader Resources' Borborema gold project, in the Seridó area of the Borborema province, in north-eastern Brazil, represents a production plan comprising four-million tonnes a year for 11 years life-of-mine. The ASX-listed company said that it was also currently... →
Russia's 2018 gold production expected to rise 3% – lobby
By: Reuters 6th March 2018 Russia's gold production in 2018 is expected to rise by 3% to 328 t on higher output from mines, producers' lobby Gold Industrialists' Union said on Tuesday. The estimate includes output from mines, from gold as a by-product of other metals, refined from scrap and gold containing concentrate. →
Building trust between miners, host governments a prerequisite to foster economic prosperity
By: Henry Lazenby 6th March 2018 Endemic mistrust between private sector miners and African jurisdictions belies the spirit and objectives set out in the African Union's African Mining Vision, an audience attending the eighth MineAfrica panel discussion at the Prospectors and Developers Association of Canada conference heard on... →
MineAfrica 8th Panel Discussion on African Mining in 2018-Politics, Policies and Opportunities
Lundin Gold eyes growth after mine in Ecuador built
By: Reuters 5th March 2018 Lundin Gold has a hearty appetite for growth even as the Canadian miner focuses on building its first mine in Ecuador on time and budget, CEO Ron Hochstein said on Sunday. “We want to grow to be an at least one-million-ounce-a-year producer with three to four operations,” Hochstein said in an... →
Global metals exploration likely to rise 20% in 2018 – S&P Global
By: Henry Lazenby 5th March 2018 Global mining exploration budgets are expected to swell about 20% in 2018, bolstered by the generally positive trend in metals prices extending into early 2018, a new report by S&P Global Market Intelligence has found. Global spending on the search for nonferrous metals rose 15% year-on-year in... →
S&P's sees further improvement in most metal prices in year ahead
By: Megan van Wyngaardt 5th March 2018 Metals prices have benefited from the improved global economy and from a recently weaker US dollar, in which most commodities are valued, with the Standard & Poor's (S&P's) GSCI reaching a two-year high on January 26, aiding the uptick in global exploration, the research firm's 'World Exploration... →
Petropavlovsk reports increased reserves, resources
By: Simone Liedtke 5th March 2018 London-based gold mining company Petropavlovsk on Monday announced that its reserves have increased by about 8%, before depletion, and its resources by about 6%, before depletion, as at December 31. This forms part of the results of a review of gold ore reserves and mineral resources, which... →
Altus enters sixth African country with new gold project
By: Megan van Wyngaardt 5th March 2018 Africa-focused exploration project generator Altus Strategies' subsidiary Aeos Gold has been granted the Prikro gold exploration licence in the Prikro and Koun-Fao departments in eastern Côte d'Ivoire, West Africa. The 369.5 km2 exploration licence targets Birimian meta-sedimentary greenstone... →
Nautilus secures further bridge funding
By: Henry Lazenby 5th March 2018 TSX-listed marine mining project developer Nautilus Mining has secured a further bridge loan of up to $34-illion from Deep Sea Mining Finance, which is intended to tide the company over until it is able to start undersea mining at its flagship Solwara 1 project, offshore Papua New Guinea (PNG).... →
Avesoro sets FY18 production guidance at up to 240 000 oz
By: Simone Liedtke 5th March 2018 TSX- and Aim-listed West African gold producer Avesoro Resources expects to produce between 220 000 oz and 240 000 oz of gold at an operating cash cost of between $620/oz and $660/oz this year. "The operational turnaround at New Liberty is substantially complete and it is now delivering to the... →
Drilling programme ups resources at Namdini gold project
By: Megan van Wyngaardt 5th March 2018 As a result of an additional 15 684 m of diamond drilling at dual-listed Cardinal Resources Namdini gold project, in Ghana, the company has converted its inferred category ounces into the indicated mineral resource category, which now stands at 6.5-million ounces, contained in 180-million tonnes.... →
Barrick's Porgera JV suffers PNG earthquake setback; Moody's boosts ratings
By: Henry Lazenby 4th March 2018 Canadian miner Barrick Gold has reported significant damage to the power plant that supplies electricity to the Porgera joint venture, following a 7.5 magnitude earthquake that struck Papua New Guinea (PNG) on February 26. However, the NYSE- and TSX-listed miner said it does not expect the... →
Nevsun narrows Q4 loss on impairment reversal
By: Henry Lazenby 4th March 2018 Base metals producer Nevsun Resources has reported a narrower fourth-quarter loss of $3.8-million, or $0.01 a share, as the bottom line benefitted from the partial reversal of an impairment charge previously booked on zinc ore stockpiles. The Vancouver-headquartered company advised that based on... →
Barberton Mines complex head grade rises 32% – Pan African
By: Nadine James 2nd March 2018 The average head grade of Pan African Resources’ Barberton Mines complex, which includes the Fairview, Sheba and Consort mines, has increased by 32%. The head grade improved from an average of 8.7 g/t during July to December 2017 to 11.5 g/t last month, predominantly as a result of mining... →
Peruvian precious metals miner lists on London’s NEX exchange
By: Nadine James 2nd March 2018 Emerging Peruvian gold and silver producer VI Mining on Friday started trading on London’s NEX Exchange Growth Market. The company completed a share placement, which raised £5.36-million in gross proceeds. It issued 106.95-million ordinary shares of no par value at an admission price of £5 each. →
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