R/€ = 16.08 Change: 0.01
R/$ = 14.04 Change: 0.17
Au 1223.60 $/oz Change: 8.11
Pt 852.50 $/oz Change: 10.71

Gold News

Outflows in gold-backed ETFs slowing – WGC

4th October 2018 Holdings in global gold-backed exchange-traded funds (ETFs) and similar products fell by 23.7 t to 2 329 t in September – the fourth consecutive month of falls – equivalent to $932-million in outflows, the World Gold Council (WGC) reported on Thursday. This, in addition to a drop in the gold... 

Pretivm refinances Brucejack construction loan

By: Creamer Media Reporter      4th October 2018 Intermediate gold producer Pretivm Resources has secured a commitment letter to refinance the Brucejack construction credit facility, ticking another milestone set out for the year, CEO Joseph Ovsenek announced on Thursday. The commitment letter provides for a fully underwritten $480-million... 

Awak Mas could deliver 100 000 oz/y

By: Esmarie Iannucci     4th October 2018 A definitive feasibility study (DFS) into the Awak Mas gold project, in Indonesia, has estimated that the project could produce 100 000 oz/y over an initial 11-year period. Owner Nusantara Resources on Thursday reported that the DFS estimated a post-tax net present value of $152-million and an... 

St Barbara sets pace for 2019

By: Esmarie Iannucci     4th October 2018 Gold miner St Barbara is on track to meet its 2019 financial year production target, after producing 98 547 oz of gold during the three months to September. Gold production for the September quarter was down from the 119 436 oz produced in the June quarter, as production from the Gwalia mine... 

Unions agree 3-year Harmony Gold wage deal

By: Reuters     3rd October 2018 Harmony Gold signed a three-year wage agreement with South Africa's National Union of Mineworkers (NUM) and two other unions on Wednesday, the company and unions said on Wednesday. Harmony said in a statement that the deal would see a R700 a month pay hike in the first year for the lowest-paid... 

Boss sells Burkina Faso project stakes to JV partner Teranga

By: Esmarie Iannucci     3rd October 2018 Uranium developer Boss Resources has struck a A$10-million deal with its joint venture partner Teranga Gold to divest of its interest in the Golden Hill and Gourma projects, in Burkina Faso. Under the terms of the transaction, Boss will sell its shares in Boss Minerals and Askia gold, which... 

EganStreet advances Rothsay

By: Esmarie Iannucci     3rd October 2018 The Western Australian Department of Mines, Industry Regulation and Safety has approved the project management plan for the Rothsay gold project, ASX-listed EganStreet Resources reported. A mining proposal has also been submitted, which, if approved, will allow Eganstreet to start key works at... 

Poland makes biggest gold purchase since 1998 as prices slump

By: Bloomberg     2nd October 2018 Poland is making a rare charge into gold. The country added about nine metric tons to its bullion reserves in July and August as prices dropped, International Monetary Fund data show. That’s Poland’s biggest purchase since 1998 and among the largest additions by a European Union nation since then. 

Chinese delegation to study South Africa’s mineral codes

By: Martin Creamer     2nd October 2018 South Africa’s meticulous set of mineral reporting codes has succeeded in attracting a high-ranking Chinese delegation from the Mineral Resources and Reserves Evaluation Centre of the Ministry of Land and Natural Resources (MRREC) in Beijing. South Africa’s Samcodes Standards Committee (SSC) will... 

Chinese delegation to study South Africa’s mineral codes
Photo by Creamer Media
Samcodes Standards Committee chairperson Matt Mullins

2018 ‘challenging’ for South African mining companies – PwC

By: Marleny Arnoldi     2nd October 2018 The 12 months to June 30 proved to be a challenging year for South African mining companies, in contrast with the global mining industry, which achieved a considerable improvement in financial performance compared with the prior year. PwC on Tuesday released the tenth edition of its ‘SA Mine... 

2018 ‘challenging’ for South African mining companies – PwC
PwC energy and mining assurance partner Andries Rossouw

Uganda to join transparency programme as it seeks mining investors

By: Bloomberg     2nd October 2018 Uganda plans to join a program aimed at rooting out corruption in resource industries as the East African nation seeks to reassure potential investors that it isn’t involved in “conflict minerals.” The Cabinet has already endorsed the plan to join the Extractive Industries Transparency Initiative... 

Randgold's hook-up with Barrick to leave large void in London market

By: Reuters     2nd October 2018 A tie-up between Randgold Resources and Barrick Gold will leave a void in the London market for investors seeking exposure to gold via companies that produce the precious metal. Canada's Barrick Gold has agreed to buy Africa-focused Randgold for $6.5-billion to create the world's largest gold... 

Randgold's hook-up with Barrick to leave large void in London market

Coeur completes Northern Empire acquisition

By: Creamer Media Reporter      2nd October 2018 NYSE-listed Coeur Mining has wrapped up the acquisition of Northern Empire Resources, bolstering its project pipeline. Northern Empire’s principal asset is the fully permitted, past producing Sterling gold mine, which has an inferred gold resource of about 709 000 oz averaging at 2.23 g/t. The... 

Millennium increases production at Nullagine

By: Esmarie Iannucci     2nd October 2018 Junior gold producer Millennium Minerals has reported a 77% increase in production in the September quarter, compared with the previous quarter, as head grades increased on the back of new ore sources at its Nullagine gold project, in Western Australia. The ASX-listed company on Tuesday reporte... 

Lonmin sells stake in Canadian junior Wallbridge to Eric Sprott

By: Mariaan Webb     2nd October 2018 Platinum miner Lonmin, which is being bought over by Sibanye-Stillwater, has agreed to sell its 6.8% interest in Canadian explorer and developer Wallbridge Mining to billionaire investor Eric Sprott for $3.97-million. The acquisition of Lonmin’s 24 042 895 shares in Wallbridge increased Sprott’s... 

Chalice step-change releases funds to investors

By: Esmarie Iannucci     2nd October 2018 ASX- and TSX-listed Chalice Gold Mines has shifted gears, announcing its intention to focus on exploring its Australian and Canadian assets, rather than the acquisition of an advanced resources project. “After realising more than $100-million in net proceeds from asset sales over the last... 

Thornton nearly doubles his shareholding in Barrick

By: Creamer Media Reporter      2nd October 2018 Executive chairperson John Thornton has bought 2 271 029 additional shares in Barrick Gold, nearly doubling its shareholding in the gold major to five-million shares. Based on the exchange ratio of 6.128 Barrick shares for each share of Randgold Resources, under the recommended all-share merger... 

Stibnite permitting schedule updated

By: Mariaan Webb     2nd October 2018 The date for the final record of decision (RoD) for the Stibnite gold project, in central Idaho, has been pushed out by two months to May 2020, explorer and developer Midas Gold reported on Monday, citing an updated schedule from the United States Forest Service (USFS). The USFS, in cooperation... 

Struggling Avocet says it has sufficient funding to continue operating for 12 months

By: Marleny Arnoldi     1st October 2018 Aim-listed struggling gold miner Avocet Mining, amid company refinancing and restructuring, says it has sufficient funds for at least the next 12 months at the current and expected rate of spending. In the six months ended June 30, Avocet sold its subsidiaries in Burkina Faso, as well as its... 

Crusader shares suspended over financial uncertainty

By: Mariaan Webb     1st October 2018 Shares in Crusader Resources were suspended on the Aim on Monday, after the company failed to raise sufficient funding, raising “material uncertainty” about its going concern status. Crusader had to raise funding before the end of September, but said on Monday that it had not yet managed to do... 

Bokamoso Ba Rona Initiative seeks programme manager

By: Tasneem Bulbulia     1st October 2018 Precious metals miner Sibanye-Stillwater, the West Rand Development Agency, the Gauteng Infrastructure Financing Agency and the Far West Rand Dolomitic Water Association (FWRDWA) have issued a request for qualification (RfQ) for a suitability qualified programme manager for the multistakeholder... 

Relief Canyon ‘next leg of growth’ for Americas Silver

By: Mariaan Webb     1st October 2018 The announcement on Monday of a business combination of silver miner Americas Silver and emerging gold producer Pershing Gold is providing a “clear path” to the development of the Relief Canyon openpit gold mine, in Nevada. The increased financial and operating capabilities of the combined... 

Relief Canyon ‘next leg of growth’ for Americas Silver
The Relief Canyon project in Nevada.

Northern Star completes Pogo buy

By: Esmarie Iannucci     1st October 2018 Gold miner Northern Star Resources has completed its $260-million acquisition of the Pogo gold project, in Alaska, from Sumitomo Metal Mining company. Northern Star will receive the full financial benefit of Pogo from July this year, and as a result, the company’s full-year guidance has been... 

Orocobre appoints new leadership

By: Esmarie Iannucci     1st October 2018 ASX- and TSX-listed Orocobre has appointed Martin Perez de Solay as its new CEO and MD, following a global search by a recruitment specialist. De Solay will commence in the roles following the company’s annual general meeting, and a transition period with current MD and CEO Richard Seville. 

Regis abandons plans for Capricorn takeover

By: Esmarie Iannucci     1st October 2018 Gold miner Regis Resources has terminated takeover discussions with fellow-listed Capricorn Metals, after that company’s largest shareholder said that it would not support the deal. Regis earlier this month put forward a confidential, indicative and incomplete proposal to acquire gold developer... 

Xtract alluvial mining delivers 2 903 oz in H1

By: Tasneem Bulbulia     28th September 2018 Gold producer, exploration and development company Xtract Resources, which has projects in Mozambique, on Friday said about 2 903 oz of total alluvial mining contractor gold had been produced in the six months ended June 30. 

Randgold refutes Sokimo’s claims around Barrick merger affecting Kibali ownership

By: Marleny Arnoldi     28th September 2018 Randgold Resources has refuted reported claims by Democratic Republic of Congo State miner Société de Miniere de Kilo-Moto SA (Sokimo) that the proposed merger between Barrick Gold and Randgold will introduce a new partner in the Kibali joint venture. Randgold said the proposed merger would... 

ANS Mining concludes equity deal with Kefi’s TKGM subsidiary

By: Marleny Arnoldi     28th September 2018 Aim-listed Kefi Minerals on Friday confirmed that ANS Mining Share Company had signed a binding project equity investment agreement for its subscription of new equity capital into Tulu Kapi Gold Mines (TKGM) for a minimum of $30-million, which would earn it a stake of 23% in TKGM. The agreement... 

Ariana mulling opportunities to diversify

By: Mariaan Webb     28th September 2018 Gold and silver miner Ariana Resources on Friday reported an interim profit of £319-million, helped by record performance from its joint venture (JV) mine in Turkey, and also announced that it was evaluating opportunities to diversify. The interim profit compares with a loss of £663-million in... 

Bezant pitching Philippines copper/gold project to large miners

By: Mariaan Webb     28th September 2018 Aim-listed copper/gold explorer Bezant Resources is actively marketing its Mankayan copper project, in the Philippines, to large mining groups and institutions that recognise the strength of copper fundamental, executive chairperson Colin Bird said on Friday. The project, which is now Bezant’s... 

SolGold CEO: High grades deliver independence

By: Mariaan Webb     28th September 2018 High copper and gold grades of the Alpala deposit are providing dual-listed SolGold with a level of independence in the development of the larger Cascabel project, in Ecuador, CEO Nicholas Mather said on Friday. Responding to critics saying that Brisbane-based SolGold is too small to fund a... 

SolGold CEO: High grades deliver independence
The Cascabel project, in Ecuador.

Constantine updates Palmer resource to indicated category at 11% zinc

By: Marleny Arnoldi     28th September 2018 TSX-listed Constantine Metal Resources (CMR) has updated its mineral resource estimate for the Palmer copper/zinc/gold/silver deposit, in Alaska, to an indicated resource of 4.6-million tonnes, grading 11.67% zinc equivalent and 3.84% copper equivalent. This mineral resource update represents... 

Polymetal consolidates Saum stake, mining to start H2 2020

By: Marleny Arnoldi     28th September 2018 LSE-listed Polymetal International has acquired the remaining 20% stake in Saum Mining Company, which is the licence holder for the Saum polymetallic deposit, in Russia. The deposit has a resource of 435 000 oz of gold equivalent at 9.7 g/t gold.  

Polymetal consolidates Saum stake, mining to start H2 2020
The Voro openpit mine.

Azumah grows Ghana project’s mineral resources to 2.5Moz

By: Marleny Arnoldi     28th September 2018 ASX-listed gold developer Azumah Resources has increased the combined mineral resource of its Wa gold project by 21%, or 433 900 oz, to 2.5-million ounces, adding to the expectations for attractive financial metrics for the Ghana project. Azumah will update the ore reserves and financial metrics... 

GBM to buy project near Mt Coolon

By: Creamer Media Reporter      28th September 2018 Precious metals miner GBM Resources could potentially double the resource base of its flagship Mt Coolon gold project, with the acquisition of the Twin Hills gold project, about 90 km away. GBM has signed a binding sale and purchase agreement with mid-tier miner Minjar Gold to acquire the... 

Copper Mountain publishes PEA for deposit adjacent to flagship mine

By: Mariaan Webb     28th September 2018 The New Ingerbelle property, located about one kilometre from the Copper Mountain mine, in southern British Columbia, is a strong candidate to be incorporated into the current mine’s plan aimed at increasing yearly production. The New Ingerbelle deposit is expected to produce 768-million pounds... 

Copper Mountain publishes PEA for deposit adjacent to flagship mine
The Copper Mountain mine, near Princeton, British Columbia.

Congo State miner warns Randgold on transfer of Kibali mine to Barrick

By: Reuters     28th September 2018 Congo's State miner Sokimo warned Randgold Resources on Friday that Sokimo would "assert its rights" in Barrick Gold Corp's acquisition of Rangold's stake in the Kibali project under a takeover deal, but Sokimo did not clarify its plans. Canada's Barrick Gold agreed to buy Randgold Resources Ltd... 

Barrick's Bristow bet seen as boosting South America revival

By: Bloomberg     28th September 2018 Mark Bristow built a reputation as the developer and operator of lucrative mines in Africa. Now the world’s biggest gold mining company is betting he can do the same in another complex region, South America. The Randgold Resources founder is set to become CEO of Barrick Gold after Barrick said... 

Barrick's Bristow bet seen as boosting South America revival
Mark Bristow

Latest News


Latest Videos


Press Office


Topics In These Articles

RSS Feed


Mining Weekly is a product of Creamer Media.

Other Creamer Media Products include:
Engineering News
Research Channel Africa

Read more


We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store


Advertising on is an effective way to build and consolidate a company's profile among clients and prospective clients. Email

View options
Free daily email newsletter Register Now
Register Close