R/€ = 15.83 Change: -0.12
R/$ = 13.53 Change: -0.12
Au 1228.93 $/oz Change: 5.68
Pt 828.00 $/oz Change: 15.94

Gold News

Seven mineworkers missing after accident in northern Mexico

By: Reuters     7th June 2018 Rescuers were searching on Wednesday for seven workers who went missing in at a gold and silver mine in northern Mexico after a dam filled with liquid waste collapsed, authorities said. The accident occurred on Monday in the La Cieneguita mine operated by Minera Rio Tinto and Pan American... 

Goldcorp signs IBA with three First Nation communities in Ontario

By: Marleny Arnoldi     6th June 2018 TSX-listed Goldcorp and three First Nation communities – Brunswick House, Chapleau Cree and Chapleau Ojibwe – have signed an impacts and benefits agreement (IBA) with respect to the development and operation of the Borden gold project, near Chapleau, in northern Ontario.  

Goldcorp signs IBA with three First Nation communities in Ontario

Gold market could put supply on blockchain as soon as next year

By: Bloomberg     6th June 2018 The gold market could start using the technology behind cryptocurrencies to track an almost-$200 billion supply chain as soon as next year. The London Bullion Market Association (LBMA) last week closed an invitation for submissions of ideas for how to track the metal as it’s dug out of remote... 

Europe, Asia drove ETF holdings higher in May – WGC

By: Marleny Arnoldi     6th June 2018 Global gold-backed exchange-traded fund (ETF) holdings added 15 t to 2 484 t in May, the World Gold Council (WGC) reported on Wednesday.  

Europe, Asia drove ETF holdings higher in May – WGC

Plan for mining community development levy scrapped

By: Bloomberg     6th June 2018 South Africa’s government has scrapped plans to compel mining companies to contribute 1% of their annual turnover to a new community development agency because it feared the funds could be abused, the nation’s mining minister said. The levy was proposed in a draft of the nation’s new Mining... 

Current mining ‘boom’ very different to last one – CRU

By: Martin Creamer     6th June 2018 A return of capital expenditure (capex) and inorganic sources of growth are seen as a key corporate priority for 2018 and beyond, CRU Group senior consultant Aleksander Popovic said on Wednesday. The provider of marketing intelligence to mining told the Junior Indaba that the company’s... 

Current mining ‘boom’ very different to last one – CRU
Photo by Dylan Slater
CRU Group senior consultant Aleksander Popovic

Iamgold reports 39% reserve, 16% output rise at Burkina Faso project

By: Marleny Arnoldi     6th June 2018 TSX- and New York-listed gold producer IAMGOLD has announced positive results from a prefeasibility study (PFS) for its Essakane heap leach project, in Burkina Faso.  

Iamgold reports 39% reserve, 16% output rise at Burkina Faso project
IAMGOLD's Essakane gold mine in Burkina Faso

Velocity appoints consultancy to undertake Rozino PEA

By: Marleny Arnoldi     6th June 2018 TSX-listed gold miner Velocity Minerals has appointed consultancy CSA Global Canada Geoscience to complete a preliminary economic assessment (PEA) and a National Instrument (NI) 43-101-compliant mineral resource estimate for the Rozino gold project, in south-east Bulgaria.  

Harmony Gold raises R1.05bn to help settle Moab Khotsong loan

By: Marleny Arnoldi     6th June 2018 Gold miner Harmony Gold has raised R1.05-billion, or $82-million, through the placing of 55-million new ordinary shares with existing and new institutional investors at a price of R19.12 apiece.  

Harmony Gold raises R1.05bn to help settle Moab Khotsong loan
Moab Khotsong

Argonaut awaits imminent court scheduling over suspension of Mexico mine’s explosives permit

By: Marleny Arnoldi     6th June 2018 TSX-listed gold producer Argonaut Gold on Tuesday reported that the Judiciary Court hearing with respect to the company’s explosives permit for its La Colorada mine, in Sonora, Mexico, has been postponed and is awaiting imminent court scheduling.  

Argonaut awaits imminent court scheduling over suspension of Mexico mine’s explosives permit

Lion One secures funding for gold project

By: Esmarie Swanepoel     6th June 2018 he Tuvatu gold project, in Fiji, is poised for development after project developer Lion One Metals secured a $40-million finance facility with Sinosteel Equipment & Engineering and mining and smelting group Baiyin. Lion One will engage Sinosteel as the project engineering, procurement and... 

Orinoco to restart gold production

By: Esmarie Swanepoel     6th June 2018 Brazilian gold miner Orinoco Gold is expected to resume gold production from its Cascavel project by next week, after a nation-wide truck strike ended. The company in May switched off all milling and processing facilities as the strike continued unabated, warning at the time that mining... 

Ramelius adds ounces at Edna May

By: Esmarie Swanepoel     6th June 2018 Junior gold miner Ramelius Resources has reported a 12% increase in the mineral resource at its Edna May operation, in Western Australia. The project is now estimated to host a mineral resource of some 794 000 oz, including a high-grade resource of 77 000 oz, grading at 6.7 g/t gold. 

Millennium secures finance for Nullagine expansion

By: Esmarie Swanepoel     6th June 2018 Gold miner Millennium Minerals has secured a A$17.5-million working facility from Investec Australia to fund the expansion of its Nullagine project, in Western Australia. In addition to the A$17.5-million revolving loan facility, Millennium also agreed to an additional risk management facility... 

Multistakeholder initiative launched to address sustainable mine closure challenges

By: Nadine James     5th June 2018 Private and public sector entities officially launched a sustainable mine closure collaborative platform, called the Mine Water Coordinating Body (MWCB), at the Nedbank-New Partnership for Africa’s Development (Nepad) Business Foundation Networking Forum, hosted in Sandton, on Tuesday. The MWCB... 

Rwanda says mineral export earnings rose to $373m last year

By: Reuters     5th June 2018 Earnings from Rwanda's mineral exports more than doubled to $373-million last year from the previous 12 months, supported by a rebound in global prices of commodities, a top official said. After meeting sector players in the capital Kigali on Tuesday, Francis Gatare, chief executive at Rwanda... 

Govt creating junior miners’ fund, boosting geoscience, legitimising zama-zamas 

By: Martin Creamer     5th June 2018 The government is partnering the State-owed Industrial Development Corporation (IDC) to establish a junior miners’ fund that will provide exploration investment capital to black-owned emerging miners; it is also investing R20-billion in the Council for Geoscience to boost exploration as well as... 

Govt creating junior miners’ fund, boosting geoscience, legitimising zama-zamas
Mineral Resources Deputy Minister Godfrey Oliphant announces junior funding at Junior Indaba, covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

South Africa’s commodity sector continues to suffer, despite favourable market conditions

By: Simone Liedtke     5th June 2018 While favourable market conditions, higher commodity prices and strong internal discipline will produce increased liquidity and balance sheet strength for miners this year, advisory firm PwC Africa energy, utilities and resources leader Michal Kotzé believes South Africa’s commodity sector will... 

Arc Minerals lifts Zamsort stake to 55%

By: Simone Liedtke     5th June 2018 Aim-listed Arc Minerals has increased its interest in Zamsort, which is developing a copper/cobalt project in north-west Zambia, to 55% following the acquisition of a 6% interest from Terra Metals. The company will issue 17.5-million new ordinary shares, which are also subject to a hard lock-in... 

Positive drill results at Harmony’s Kalgold underpins resource growth

By: Simone Liedtke     5th June 2018 Exploration drilling at Harmony Gold’s Kalgold openpit operation in the North West province outline an expanded, robust mineralised system that extends beyond the current limits. “Our exploration strategy targets highly prospective, underexplored terrains and mining districts to discover and... 

Giant waste-spewing mine turns to battleground in Indonesia

By: Bloomberg     5th June 2018 Every year, Freeport-McMoRan dumps tens of-millions of tons of mining waste into the Ajkwa River system in Indonesia. The company has been doing it for decades, and is demanding the right to keep at it for decades to come. The discharge of what are called tailings, the leftovers of mineral... 

IDM to provide technical services at Sunvest’s Clone gold property

By: Simone Liedtke     5th June 2018 TSX-V-listed IDM Mining has signed a letter of intent (LoI) with junior exploration company Sunvest Minerals to provide technical and geological consultation work, as well as logistical and community guidance for Sunvest’s Clone gold property, located south of IDM’s Red Mountain property.... 

Euro Sun amends Nevsun proposal to include cash and shares

By: Simone Liedtke     5th June 2018 TSX-listed Euro Sun Mining (ESM) has amended its portion of the joint proposal with multinational minerals company Lundin Mining to acquire midtier base metals company Nevsun Resources for C$1.5-billion. ESM is now offering C$150-million in cash and C$150-million in ESM stock, compared with the... 

Assay results at Cora Gold’s Sanankoro continue to be encouraging

By: Simone Liedtke     4th June 2018 Aim-listed Cora Gold on Monday reported encouraging assay results from its Sanankoro gold project, in southern Mali, which CEO Dr Jonathan Forster says confirms previous work at the Zone A area of the project. “The overall scale and quality of Sanankoro is remarkable. We have received... 

Shanta Gold achieves exploration objectives at Singida gold mining project

By: Simone Liedtke     4th June 2018 Aim-listed Shanta Gold has achieved its objective of the 1 600 m reverse circulation drilling programme, which targeted two of the seven key targets at its Singida project, in Tanzania, to upgrade resources from the inferred to the measured and indicated (M&I) categories. The M&I resources have... 

Altus Strategies lists on TSX-V, retains Aim-listing

By: Simone Liedtke     4th June 2018 Exploration project generator Altus Strategies is now dually listed on the London Stock Exchange’s Aim and the TSX-Venture Exchange, with ordinary shares expected to start trading on TSX-V on June 6. As at the listing date, the company had just over 176-million shares in issue and had granted... 

Intrepid to earn into Ausgold’s Doolgunna Station project

By: Creamer Media Reporter      4th June 2018 ASX-listed miners Intrepid Mines and Ausgold on Monday announced a farm-in and joint venture (JV) agreement in terms of which Intrepid could earn up to an 80% stake of Ausgold’s Doolgunna Station project, north-east of Meekatharra, in Western Australia. Located to the west and along trend from... 

Gold may hit $1 400 in '19 on 'powerful fuel' of weak dollar

By: Bloomberg     4th June 2018 Gold may have posted two straight months of declines, but is set to shrug off the blues and rise in 2019 as the dollar weakens. The precious metal will start to rebound in the final quarter of this year to average $1 375 an ounce in the last three months of next year and could touch a high of $1... 

Gold may hit $1 400 in '19 on 'powerful fuel' of weak dollar

Mining resumes at Avanco’s Brazil mine

By: Mariaan Webb     4th June 2018 Mining operations have resumed at the Antas mine in strike-hit Brazil, after fuel and other supplies started flowing into Parauapebas. The Antas mine, which was shut last week amid a crippling truck driver strike, is functioning on a normal roster, ASX-listed Avanco said on Monday. 

Havilah sells Portia and Portia North

By: Mariaan Webb     4th June 2018 South Australian copper junior Havilah Resources on Monday announced that it would sell its Portia and Portia North projects to Broken Hill-based Consolidated Mining and Civil (CMC), freeing up the company’s time and financial resources to focus on its core projects. Havilah CEO Walter Richards... 

Kinross Gold celebrates 25-year TSX anniversary

By: Creamer Media Reporter      2nd June 2018 Canada-based senior gold mining company Kinross Gold on Friday celebrated its twenty-fifth year as a listed company on the Toronto Stock Exchange. The senior gold miner, which has mines in the US, Brazil, Russia, Mauritania, Chile and Ghana, started trading on the TSX on June 3, 1993. 

GFG acquires Timmins claims from Alamos subsidiary

By: Anine Kilian     1st June 2018 TSX-V-listed GFG Resources has entered into a purchase and sale agreement with Richmont Mines, a subsidiary of Alamos Gold, to acquire a 100% interest in claims that are adjacent to its Pen Gold project, west of Timmins, Ontario. GFG will pay for the Sewell property in 390 930 common shares. 

Great Panther to decide on Coricancha restart in early 2019

By: Simone Liedtke     1st June 2018 Vancouver-based Great Panther expects to be able to make a decision in early 2019 about restarting the past-producing Coricancha precious and base metals mine that it bought in June last year. The gold/silver/zinc/copper underground mine and mill complex, east of Lima, in Peru, has a 600 t/d... 

Great Panther to decide on Coricancha restart in early 2019

Ghana gold output up 10.2% to 2.81Moz in 2017 – Chamber of Mines

By: Reuters     1st June 2018 Ghana's gold output rose to 2.81-million ounces in 2017, up 10.2% from the previous year, data from the Ghana Chamber of Mines showed on Friday. The growth reflected a general increase in output across most of the 12 mining firms operating in the West African country, the chamber said. 

Miner killed in accident at Sibanye's Driefontein mine

By: Reuters     1st June 2018 South Africa's National Union of Mineworkers said on Friday a miner was killed by falling rocks at Sibanye-Stillwater's Driefontein gold mine, where seven workers died four weeks ago in a cave-in following a seismic event. Sibanye, which saw its share price sink about 28% in May, noted on... 

Patagonia Gold receives final $7.5m payment for Cose silver mine

By: Marleny Arnoldi     1st June 2018 Aim-listed gold and silver miner Patagonia Gold has received the second and final payment of $7.5-million from Pan American Silver Corporation, with regards to the sale of the high-grade silver Cap-Oeste Sur Este (Cose) project, in Argentina.  

Patagonia Gold receives final $7.5m payment for Cose silver mine
Cap-Oeste Sur Este silver project in Argentina

Peru cenbank urges government to help revive mining projects

By: Reuters     1st June 2018 The manager of Peru's central bank urged the government of President Martin Vizcarra on Thursday to do more to revive mining projects that have been derailed by protests. Renzo Rossini, of the central bank, said three suspended mining projects – Southern Copper Corp's Tia Maria, Newmont Mining... 

Sumatra halts operations at Tembang

By: Esmarie Swanepoel     1st June 2018 Metals miner Sumatra Copper & Gold has temporarily suspended openpit mining activities at its Tembang gold/silver project, in Indonesia. The company said on Friday that with the Berenai openpit mine scheduled to be completed during June, the majority of the remaining openpit reserves were... 

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