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Gold News

New Gold produces solid gold, copper output for 2018

By: Marleny Arnoldi     9th January 2019 TSX- and NYSE-listed New Gold produced 110 559 oz of gold in the fourth quarter of 2018, taking full-year production to 455 448 oz. Production was supported by the Rainy River and New Afton mines, in Canada. The Rainy River mine reported its best-ever quarterly gold production of 77 202 oz in the... 

Pan American Silver’s Tahoe buyout gets shareholder nod

By: Simone Liedtke     9th January 2019 TSX- and NYSE-listed Tahoe Resources’ shareholders have approved the proposed buyout of the company by Pan American Silver. Pan American’s shareholders, in turn, have approved resolutions related to the transaction, including the issue of common shares to Tahoe shareholders. 

Kirkland Lake produces record gold

By: Esmarie Iannucci     9th January 2019 ASX-, TSX- and NYSE-listed Kirkland Lake Gold has reported record quarter and annual gold productions for the quarter and full-year ended December. The miner reported fourth quarter production of 230 993 oz, up 28% on its previous record of 180 155 oz, while full year production reached 723 477... 

Global gold-backed ETF holdings grew 3% in 2018 – World Gold Council

By: Simone Liedtke     8th January 2019 Global gold-backed exchange-traded funds (ETFs) grew by 3% in 2018, and were driven by strong growth in European funds and increased global inflows during December, the World Gold Council’s monthly gold ETF/exchange-traded product (ETP) report, published on Tuesday, shows. This, the report... 

Kirkland delivers record quarterly gold production

By: Marleny Arnoldi     8th January 2019 TSX- and NYSE-listed Kirkland Lake Gold on Tuesday announced record production of 230 993 oz of gold production in the fourth quarter of 2018, which is 28% higher than the prior record of 180 155 oz achieved in the third quarter of 2018. The company declared a quarterly dividend of $0.04... 

Updated resource estimate significantly increases Landore’s BAM gold resource tonnages

By: Tasneem Bulbulia     8th January 2019 An updated mineral resource estimate on the BAM gold deposit at London-listed Landore Resources’ Junior Lake Property, in Ontario, Canada, has significantly increased the deposit’s gold resource to 28.83-million tonnes at 1.03 g/t gold for 951 000 oz of gold, including 20.20-million tonnes at... 

Tanzania names latest mining minister in ongoing industry clash 

By: Reuters     8th January 2019 Tanzania named a new mining minister on Tuesday amid a prolonged spat between the government and gold producer Acacia over a $190-billion tax bill, which has severely limited the London-listed company's operations in the East African nation. Dotto Biteko, whose appointment was announced by... 

Gold miners to focus on mitigating risks – Fitch Solutions 

By: Simone Liedtke     8th January 2019 Consultancy company Fitch Solutions believes the gold mining industry will remain fragmented, with the top five companies producing just one-fifth of global output. Despite the company’s expectation of a slight rebound in prices, it stated in its latest ‘Outlook for gold miners’ report, published... 

Gold miners to focus on mitigating risks – Fitch Solutions

Ascot Resources to acquire IDM Mining

By: Tasneem Bulbulia     8th January 2019 IDM Mining and Ascot Resources have entered into a definitive arrangement agreement that will result in Ascot acquiring all of the issued and outstanding common shares of IDM. Each IDM shareholder will be entitled to receive 0.0675 of a common share in Ascot for each share in IDM held. 

Zijin to launch compulsory acquisition for remaining Nevsun shares

By: Marleny Arnoldi     8th January 2019 Chinese group Zijin Mining has acquired a further 9.5-million shares, or 3.05%, of TSX- and NYSE American-listed Nevsun Resources for $57-million. Zijin last year offered to buy out all the issued and outstanding common shares of Nevsun for C$6 apiece.  

Angkor appoints new CFO

By: Simone Liedtke     8th January 2019 TSX-V-listed Angkor Gold Corp has appointed Viktoriya Griffin CFO, with immediate effect. Griffin succeeds Grant Smith. 

AMCU strike continues at Sibanye as union verification process is adjourned 

By: African News Agency      8th January 2019 Sibanye-Stillwater said on Monday that the mediator of the ongoing strike at its gold operations in South Africa would approach the Labour Court to seek guidance about the verification of union membership after it (Sibanye) did not agree with the striking union about terms of reference for the... 

Westgold revises hedge book

By: Esmarie Iannucci     8th January 2019 ASX-listed gold miner Westgold Resources has made use of the recent strength in the Australian dollar gold price, revising its hedge book to 150 000 oz. The revised hedge book is structured as a fixed-forward delivery of 10 000 oz a month, at a price of A$1 776.10/oz, over a period of 15 months. 

Production halted at Las Lagunas

By: Esmarie Iannucci     8th January 2019 Operations at the Las Lagunas gold/silver project have been temporarily halted following the rupture of one of six Albion reactors at the plant, in the Dominican Republic. ASX-listed PanTerra Gold on Tuesday said that no injuries were sustained during the incident, with the non-toxic slurry in... 

Resolute launches review of Ravenswood

By: Esmarie Iannucci     8th January 2019 Gold miner Resolute Mining on Tuesday told shareholders that the company has not made any decision in relation to the spin-off or sale of its Ravenswood gold mine, in Queensland. Instead, the company was planning to undertake a strategic review of the asset in the first half of this year. 

Osisko makes initial investment towards share buyback programme, reduces debt by $43m

By: Simone Liedtke     7th January 2019 TSX- and NYSE-listed Osisko Gold Royalties on Monday announced that it had completed an initial investment of C$9.8-million towards its normal course issuer bid (NCIB) for 849 480 shares and that it had repaid $43-million on its revolving credit facility. The share repurchases were completed as... 

Rambler voluntarily delisting from TSX-V

By: Simone Liedtke     7th January 2019 Rambler Metals and Mining has applied for a voluntary delisting of the company’s ordinary shares from the TSX-V. Its shares, which are currently listed for trading on the TSX-V and Aim, will continue to trade on Aim where the vast majority of trading activity takes place, the company said on Monday. 

Leagold expects increased production, cash flow in 2019

By: Marleny Arnoldi     7th January 2019 TSX-listed Leagold Mining Corporation produced 302 550 oz of gold in 2018, in line with guidance of between 295 000 oz to 305 000 oz of gold. It operates four gold mines in Mexico and Brazil.  

Resolute ups output in Dec quarter

By: Esmarie Iannucci     7th January 2019 Gold miner Resolute Mining has reported a near 20 000 oz increase in gold production during the December quarter, compared with the previous quarter. The miner on Monday reported that gold production in the three months to December reached 73 691 oz, up 18 183 oz on the September quarter... 

Resolute ups output in Dec quarter

BlackRock heaps praise on gold's role as a tough year opens 

By: Bloomberg     7th January 2019 Gold may extend gains as global growth slows, equity market volatility remains elevated and the Federal Reserve is expected to ease back on the pace of policy tightening this year, according to a BlackRock money manager, who says the precious metal offers an effective hedge. “Recession fears are... 

BlackRock heaps praise on gold's role as a tough year opens

Pantoro reports 33% rise in gold production

By: Esmarie Iannucci     7th January 2019 ASX-listed Pantoro has reported a 33% increase in gold production during the December quarter, up from the previous quarter. The miner on Monday reported that gold production in December reached 12 657 oz, up from the 9 524 oz produced in the September quarter, as mining operations returned to... 

At least 30 gold miners killed in tunnel collapse in northern Afghanistan

By: Reuters     6th January 2019 At least 30 Afghans were killed on Sunday when the tunnel they were digging in to mine gold in northern Afghanistan collapsed, officials said. Officials said the victims were villagers who were mining for gold illegally, rather than in a government project. 

Barrick's new CEO says gold industry shake-up is just starting

By: Bloomberg     4th January 2019 Barrick Gold Corp.’s new chief executive officer has a message for the gold industry: This is just the start of a big shake-up. Barrick agreed to buy smaller rival Randgold Resources Ltd. in a $5.4-billion deal announced in September. As part of the agreement, Randgold’s CEO, Mark Bristow,... 

Barrick's new CEO says gold industry shake-up is just starting

Orinoco launches review and leadership restructure

By: Esmarie Iannucci     3rd January 2019 Gold miner Orinoco has launched an operational and strategic review of its Cascavel gold mine, in Brazil, with the aim of addressing key issues to optimse production and cash flows in 2019. As part of the review, an independent metallurgist has attended the mine and has provided Orinico with his... 

Gold opens 2019 with fanfare amid growth concerns as copper sags

By: Bloomberg     3rd January 2019 Gold futures rose, extending their best quarterly rally in more than a year as concern over China’s economic outlook weighed on global equities and industrial metals. Bullion hit a six-month high, nearing $1 300 an ounce, after a report showing a contraction in China manufacturing renewed wild... 

Northern Star's advances rejected by JV partners

By: Esmarie Iannucci     2nd January 2019 Gold miner Northern Star’s A$150-million cash bid for the remaining 49% stake in the East Kundana joint venture (JV) has been rejected by ASX-listed Tribune Resources and Rand Mining. Northern Star in November last year made the all-cash offer after both Tribune and Rand faced a declaration of... 

AMCU strike at Sibanye-Stillwater legal - court

By: Reuters     21st December 2018 A court has found that a strike by a union representing just under half of all workers at Sibanye-Stillwater's South African gold operations is legal, despite the company declaring otherwise last week. South Africa's Association of Mineworkers and Construction Union (AMCU) said on Friday that... 

Iamgold adding low-cost marginal ounces with quick return projects

By: Mariaan Webb     21st December 2018 Canadian miner Iamgold will have two new plants, both low-capital, short payback period projects, fully operational next month, recovering at least an additional 7 000 oz/y from its operations in Suriname and Burkina Faso. At the Rosebel mine, in Suriname, the company has completed the... 

Highland closes Valunisty acquisition

By: Mariaan Webb     21st December 2018 Aim-listed Highland Gold has received approval from Russia’s Federal Anti-Monopoly Service to complete the acquisition of the Valunisty mine, in Chukotka, where the company already operates the Kekura and Klen development projects. The company closed the $91-million acquisition of the producing... 

Study confirms potential for Tropicana underground mine

By: Mariaan Webb     20th December 2018 Joint venture (JV) partners AngloGold Ashanti and Independence Group (IGO) have confirmed the technical and financial viability of an underground mine at their Tropicana operation, in Western Australia. A prefeasibility study into the development of a mine beneath the Boston Shaker pits... 

Study confirms potential for Tropicana underground mine
The Tropicana mine in Western Australia

Osisko Gold Royalties to repay debt, buy back C$100m in shares

By: Creamer Media Reporter      20th December 2018 Osisko Gold Royalties has received $118.5-million from Pretium Resources, which has repurchased the Brucejack gold and silver stream, allowing the precious metals royalty company to repay debt and to fund share repurchases. The TSX- and NYSE-listed company said on Wednesday that it would repay... 

AngloGold is said to weigh London listing, South Africa exit

By: Bloomberg     19th December 2018 AngloGold Ashanti is considering listing its shares in either London or Toronto in a move that could see the company hive off its remaining South African operations, according to people familiar with the situation. While no final decision has been made, the world’s third-largest gold producer... 

AngloGold is said to weigh London listing, South Africa exit
AngloGold CEO Kelvin Dushnisky

Scotland’s Cononish mine enters development phase

By: Creamer Media Reporter      19th December 2018 Development of the Cononish gold and silver mine started on Wednesday, following confirmation from the Loch Lomond and Trossachs National Park Planning Authority (NPA) that all 19 pre-start conditions to the planning application have been discharged. London-listed Scotgold said that it planned... 

AMCU slams Sibanye for strike interdict at gold operations 

By: African News Agency      19th December 2018 The Association of Mineworkers and Construction Union (AMCU) on Wednesday accused Sibanye-Stillwater of trying to interdict its protected strike, saying the company had tried underhand tactics to discredit the labour action from the outset. This as Sibanye on Tuesday filed an application at the... 

After Europe mining stocks' humbling year, five themes for 2019

By: Bloomberg     19th December 2018 It all started so well in 2018 for investors in European metal and mining stocks, but as the year closes out, the sector index is languishing about 25% below its June peak. Fractious trade-war rhetoric between Washington and Beijing, plus growing worries about the state of China’s economy undid... 

After Europe mining stocks' humbling year, five themes for 2019
A bear statue stands outside the Frankfurt Stock Exchange in Frankfurt, Germany.

This odd couple plots to save $100bn gold mining business 

By: Bloomberg     18th December 2018 John Thornton is a Goldman Sachs alumnus educated at Yale, Harvard and Oxford. Mark Bristow is a South African geologist and big-game hunter. Together, this corporate odd couple has a plan to turn around the lagging fortunes of the world’s largest gold-mining company, whose shares are down 67%... 

Pretivm refinances construction credit facility, repurchases stream

By: Mariaan Webb     18th December 2018 TSX- and NYSE-listed Pretium Resources (Pretivm) said on Tuesday that it had accomplished all its objectives for the year, following the successfully refinancing of its construction credit facility and the repurchase of the precious metals stream that was sold as part of the construction... 

Gold Fields and NUM sign formal agreement ending South Deep strike 

By: Mariaan Webb     18th December 2018 The 45-day strike at Gold Fields’ South Deep mine has officially ended following signing of a formal settlement agreement between the JSE- and NYSE-listed company and the National Union of Mineworkers (NUM). Employees have been returning to work since last Thursday, when the union called off the... 

Gold Fields and NUM sign formal agreement ending South Deep strike
Photo by Creamer Media
The South Deep mine

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