R/€ = 16.34 Change: 0.01
R/$ = 14.24 Change: 0.01
Au 1232.88 $/oz Change: 0.38
Pt 834.50 $/oz Change: 6.25


Vector secures $35m in additional debt

By: Esmarie Iannucci     17th October 2018 ASX-listed junior Vector Resources has secured a $35-million debt funding for its Adidi-Kanga gold project, in the Democratic Republic of Congo. Dubai-based FT General Trading will provide the funding, which will be used for payments relating to the acquisition of the Adidi-Kanga project, the... 

Polymetal obtains controlling stake in noncore Veduga

By: Creamer Media Reporter      15th October 2018 Gold miner Polymetal International has obtained a controlling interest in the Veduga deposit in Russia’s Northern Yenisey belt, opening the door for “multiple strategic options” for the noncore asset. The miner has agreed to increase its stake in the Veduga deposit to 74.3% through the... 

Court says Colombia votes cannot block mining, oil projects

By: Reuters     12th October 2018 Colombia's constitutional court on Thursday ruled that local referendums that ban mining and oil extraction cannot halt energy projects, after a raft of votes spooked multinational companies. A wave of environmentally focused anti-mining referendums over the past 18 months have worried... 

Erris appoints investment banker as CEO

By: Creamer Media Reporter      11th October 2018 Europe-focused explorer Erris Resources has appointed investment banker Anton du Plessis as CEO, succeeding Merlin Marr-Johnson, who on Thursday resigned as director and elected to step down. Erris, which has a portfolio of zinc and base metals projects in Ireland and gold projects in Sweden,... 

Drought forces two-month closure of Leagold Brazil mine

By: Mariaan Webb     11th October 2018 Latin America-focused Leagold on Wednesday announced a two-month shutdown of its RDM mine, in Brazil, citing continued regional drought conditions. In 2017, the RDM mine was closed on August 11 and restarted, on an intermittent basis, in early November with the onset of the region's rainy season. 

Mali approves Randgold’s Morila mine to agribusiness conversion

By: Marleny Arnoldi     8th October 2018 Gold miner Randgold Resources’ Morila gold mine’s ambitious agribusiness project has been approved by the Malian government. The project is designed to replace mining with a sustainable economic activity in the local community after the operation’s closure in two years’ time. 

Platinum, gold CEOs say it’s time to bring curtain down on SA’s deep level mining

5th October 2018 By Brendan Ryan – Miningmx The era of deep-level gold and platinum mining in South Africa, which is the world leader in these fields, is drawing to a close with no more deep-level shafts likely to be sunk. 

International investment in South Africa’s mining industry lagging  

By: Marleny Arnoldi     4th October 2018 Although international mining funds are choosing to invest in other jurisdictions, rather than in South Africa’s mining sector, there is still hope for the local mining sector, Anglo American nonexecutive director and Joburg Indaba international investment panel chair Jim Rutherford said on... 

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... 

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... 

Joburg Indaba to provide ‘reality check’, promote investment

By: Paige Müller     28th September 2018 This year’s Joburg Indaba will focus heavily on the economic environment and South African government’s role in encouraging investment in the embattled local mining sector, says investment conference specialist and organiser of the Joburg Indaba, Resources 4 Africa. Resources 4 Africa CEO Paula... 

AMCU, NUM granted certificates of nonresolution in wage talks with Sibanye

By: Marleny Arnoldi     27th September 2018 The Commission for Conciliation, Mediation and Arbitration (CCMA) has granted certificates of nonresolution to the Association of Mineworkers and Construction Union (AMCU) and the National Union of Mineworkers (NUM) regarding gold wage negotiations with Sibanye-Stillwater. The wage negotiations... 

New AngloGold boss weighs asset sales to unlock value at miner

By: Bloomberg     26th September 2018 AngloGold Ashanti’s new CEO Kelvin Dushnisky said his goal of unlocking value at the world’s third-largest gold producer will involve focusing on its best assets and selling those that aren’t core to the business. Dushnisky, 55, took over at AngloGold on September 1 as the Johannesburg-based... 

Harmony Gold shows off growing portfolio quality in Denver

By: Martin Creamer     26th September 2018 Harmony Gold’s Moab Khotsong mine in South Africa and Hidden Valley mine in Papua New Guinea will together produce a third of the guided 1.5-million ounces in the 12 months to end June, with the projected 500 000 oz from these two operations being produced at an all-in sustaining cost of $950/oz,... 

NUM signs wage deal with AngloGold

By: Reuters     21st September 2018 South Africa's National Union of Mineworkers (NUM) signed a three-year wage deal with AngloGold Ashanti on Friday, inking the same agreement that other unions reached with the company earlier in the week. The agreement will mean an effective pay hike of over 12% for entry-level underground... 

Gold wage talks deadlock again between Sibanye and AMCU

By: African News Agency      20th September 2018 Wage negotiations between the Association of Mineworkers and Construction Union (AMCU) and Sibanye-Stillwater reached a deadlock once again on Thursday. "No agreement has been reached and wage talks continue," AMCU said in a terse statement. 

Vector Resources secures $20m loan to aid Adidi-Kanga development

By: Marleny Arnoldi     18th September 2018 ASX-listed Vector Resources has secured a $20-million committed debt facility with resources focus fund Medea Future Materials Fund, to help reduce its indebtedness with a local Democratic Republic of Congo (DRC) bank. The company needs $5-million for upfront acquisition costs, about $10-million... 

AngloGold reaches three-year wage deal with AMCU, Uasa, Solidarity

By: Marleny Arnoldi     17th September 2018 AngloGold Ashanti has concluded a wage agreement with unions, the Association of Mineworkers and Construction Union (AMCU), Uasa and Solidarity, in respect of wages and conditions of service for the three-year period starting July 1 and ending June 20, 2021. The wage agreement allows for... 

AngloGold’s Tropicana on track to deliver 500 000 oz/y from 2020

By: Marleny Arnoldi     17th September 2018 There is a strong focus on continuous improvement at AngloGold Ashanti’s 70%-owned Tropicana mine, in Australia, and the aim is to produce 500 000 oz/y of gold from 2020, with support from the adjacent Boston Shaker prospect. In a presentation to the media, on Monday, AngloGold Ashanti... 

Congo Mines Minister insists no compromise on new mining code

By: Reuters     12th September 2018 Democratic Republic of Congo's mines minister said on Wednesday that a new mining code signed into law in March that hikes royalties and taxes cannot be called into question. Addressing a mining conference in the copper and cobalt-mining city of Kolwezi, Martin Kabwelulu called on industry... 

AMCU declares dispute with three gold mining companies 

By: Marleny Arnoldi     11th September 2018 The Association of Mineworkers and Construction Union (AMCU) on Tuesday warned gold miners Sibanye-Stillwater, Harmony Gold and Village Main Reef of an imminent strike, should they fail to meet the demands of mineworkers. Wage negotiations in the gold sector started in mid-July, and AMCU and... 

Matsa starts mining at Red Dog

By: Esmarie Iannucci     11th September 2018 Junior miner Matsa Resources has started mining at its Red Dog gold mine, in Western Australia. Red Dog is estimated to host a mineral resource of 368 000 t, at 2.2 g/t gold, for 26 300 oz of gold. 

Mali's Keita names new defence and mines ministers for second term

By: Reuters     10th September 2018 Malian President Ibrahim Boubacar Keita named new defence, mines and foreign ministers on Sunday as he began his second five-year term presiding over a country ravaged by jihadist and inter-ethnic violence. Keita was sworn in last week after winning a landslide re-election despite escalating... 

'Will I come back dead?' Human costs of South African gold

By: Bloomberg     10th September 2018 fter more than two decades of improving mine safety since the end of apartheid, South Africa’s progress has stalled with an increase in gold-mining deaths. More than 50 people have died in the country’s mines in 2018, roughly the same number as this time last year. While annual death tolls are... 

Barberton Mines concludes wage negotiations with unions

By: Marleny Arnoldi     7th September 2018 Gold mining group Pan African Resources’ Barberton Mines has successfully concluded a three-year wage agreement with the National Union of Mineworkers (NUM) and the United Association of South Africa (Uasa). The agreement provides for an average yearly wage increase of about 6.5% and 5.5% for... 

Centenera to buy six Argentina precious metals projects

By: Creamer Media Reporter      6th September 2018 TSX-V-listed Centenera Mining has signed a binding letter agreement granting it the right to acquire up to a 100% interest in six precious metals properties in the Deseado Massif in Santa Cruz, giving the firm a meaningful foothold in the mining and exploration district. The agreement is with an... 

Gold wage negotiations continue

By: Creamer Media Reporter      5th September 2018 Gold producers AngloGold Ashanti and Sibanye-Stillwater on Wednesday continued talks with unions, the Association of Mineworkers and Construction Union, Solidarity and Uasa, regarding wage increases and conditions of employment. The parties continued to engage in bilateral discussions and good... 

AngloGold's Guinea mine resumes operations after one-day strike

By: Reuters     30th August 2018 Operations have resumed at AngloGold Ashanti's Siguiri gold mine, in Guinea, after a workers strike halted activities for a day, a company vice president said on Thursday. "There was a day-long stoppage, which has since ended. No impact on full-year production," Chris Nthite told Reuters. 

Worker strike halts operations at AngloGold's Guinea mine

By: Reuters     29th August 2018 A strike at AngloGold Ashanti's Siguiri gold mine in Guinea has halted operations there, mines ministry secretary-general Saadou Nimaga said on Wednesday. The Société aurifère de Guinée, in which AngloGold holds an 85% stake, confirmed in a statement that a strike was underway and encouraged... 

Unions declare dispute over wage talks with gold firms

By: Reuters     29th August 2018 Three South African unions said on Wednesday that wage negotiations in the gold sector had hit a deadlock and they had declared a dispute, a move that is one step short of a strike. Solidarity, the Association of Mineworkers and Construction Union (AMCU) and UASA said their wage talks with... 

Q(h)ubeka Trust pays out R134m to former mineworkers suffering from silicosis.

By: Simone Liedtke     29th August 2018 The Q(h)ubeka Trust has, since its establishment in 2016, paid out about R134-million in compensation to qualifying former mineworkers, who are suffering from silicosis. The compensation paid to date represents a first payment to claimants, after which a further distribution will be made once all... 

Acacia appoints interim chair ahead of Dushnisky’s departure

By: Creamer Media Reporter      29th August 2018 Gold miner Acacia Mining has appointed independent nonexecutive director Rachel English as interim chairperson of the board, effective September 1. Outgoing chairperson Kelvin Dushnisky has tendered his resignation, effective August 31, following his resignation as president and CEO of Acacia’s... 

Sibanye says union wage demands may lead to more closures

By: Bloomberg     24th August 2018 South Africa’s struggling gold sector would be forced to close more mine shafts if labor unions’ wage demands were implemented, according to the country’s top producer of the precious metal. The largest union in the gold industry, the National Union of Mineworkers, this week said it’s deadlocked... 

Gold wage negotiations to resume on Aug 29

By: Marleny Arnoldi     22nd August 2018 Gold wage negotiations continued on Wednesday between gold producers AngloGold Ashanti, Harmony Gold, Sibanye-Stillwater and Village Main Reef and the Association of Mineworkers and Construction Union, Solidarity and Uasa. The National Union of Mineworkers (NUM) did not attend, as it declared a... 

Two new nonexecs join AngloGold board

By: Anine Kilian     22nd August 2018 Alan Ferguson and Jochen Tilk have been appointed independent nonexecutive directors at Anglogold Ashanti, effective October 1 and January 1, 2019, respectively. Ferguson is a chartered accounted and a former CFO of a number of FTSE-listed entities, including Lonmin. Since 2011, he has also... 

Seriti’s Teke awarded Brigadier Stokes Memorial Award

By: Marleny Arnoldi     21st August 2018 The Southern African Institute of Mining and Metallurgy has awarded coal producer Seriti Resources CEO Mike Teke with a Brigadier Stokes Memorial Award for his contribution to the mining industry and his leadership role in society. The platinum medal presented to Teke last week by Seriti’s... 

Rapid Moab integration boosts Harmony Gold’s cash flow 

By: Martin Creamer     21st August 2018 The rapid integration of the Moab Khotsong gold mine into the Harmony Gold group has boosted the company’s overall underground gold grade, lifted production, driven down all-in sustaining unit costs and doubled free cash flow. Harmony acquired the deep-level Moab Khotsong mine from AngloGold... 

AngloGold moves to avoid 2 000 job losses in South Africa region

By: Martin Creamer     20th August 2018 The once overwhelmingly dominant South Africa segment of gold mining company AngloGold Ashanti has been reduced to a mere loss-making shadow of its former self. In the six months to June 30, South Africa produced a mere 10% of the company’s gold unprofitably. 

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