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Asanko tracking top end of H2 guidance

By: Mariaan Webb     17th October 2018 Mining operations at the Asanko Gold Mine (AGM) are ahead of plan, standing the Ghana joint venture (JV) operation in good stead to meet its full-year production guidance of 200 000 oz to 220 000 oz. The mine – a 50:50 JV between Asanko Gold and Gold Fields – produced a record 61 599 oz in the... 

Consultants confirm at least 1Moz potential at Cora Gold’s Mali prospect

By: Marleny Arnoldi     15th October 2018 A report compiled by SRK Consulting has confirmed that gold explorer Cora Gold’s Sanankoro project, in Mali, has the potential to delineate between one-million and two-million ounces of gold to a depth of 100 m, also indicating the potential for significant further upside at depth. SRK derived an... 

Mining at Gruyere to start in November

By: Esmarie Iannucci     15th October 2018 The Gruyere gold project, in Western Australia, remains on schedule to produce its first gold in the June quarter of next year. Joint venture (JV) partners Gold Road Resources and Gold Fields on Monday revealed that the overall project engineering was about 96% complete at the end of the... 

Gold Fields CEO asks for 'more time' as investors get antsy  

By: Bloomberg     15th October 2018 Gold Fields shareholders getting impatient over the company’s failure to stem losses at the huge South Deep deposit in South Africa shouldn’t lose hope, said CEO Nick Holland. Gold Fields said in August it’s embarking on yet another turnaround plan at the operation, its only one left in South... 

Coimolache mine, Peru

By: Sheila Barradas     12th October 2018 A gold/silver mine located in the districts of Hualgayoc and Chugur, in Hualgayoc, Cajamarca, Peru. 

Zimplats held up as mine safety benchmark at Joburg Indaba

By: Martin Creamer     4th October 2018 Zimplats platinum mine in Zimbabwe was held up as a safety benchmark at the Joburg Indaba, which on Thursday observed a minute’s silence for mining colleagues fatally injured at work. Opening the second day of the well-attended event, Gold Fields, Kumba Iron Ore and AfriTin director Terence... 

Investor confidence takes on new hue, South Africa needs to embrace it with vigour

By: Martin Creamer     21st September 2018 Investor confidence is no longer a stand-alone in the South African context, where it includes other key confidences. In delivering 51% higher headline earnings of R4 814-million in the 12 months to June 30 accompanied by a hefty R1.7-billion cumulative dividend payout, African Rainbow Minerals... 

On-The-Air (14/09/2018) 

By: Martin Creamer     14th September 2018 South African mining companies are entering an exciting new era of close collaboration with the governments of South Africa and Zimbabwe; Gold mining, which was once the darling of the investor community, are now battling to raise even low levels of capital; and Australia is proving to the world... 

Gold Fields plans to extend life of Peru mine through 2040

By: Reuters     13th September 2018 South African miner Gold Fields aims to extend the life of its Cerro Corona gold mine in Peru through 2040 with an investment of at least $240-million, the company's vice president for the Americas said late on Wednesday. "We're doing studies with Peruvian consulting firms and international... 

Gold Fields ranked top South African mining company, third best global gold company

By: Marleny Arnoldi     13th September 2018 JSE- and NYSE-listed Gold Fields has again been ranked the top South African mining company on the Dow Jones Sustainability Index (DJSI) benchmarking database. The DJSI scorecard for 2018, which was published on Thursday, shows that Gold Fields’ sustainability practices rank with the best of... 

Ramelius buys WA gold project

By: Mariaan Webb     13th September 2018 Acquisitive Ramelius Resources on Thursday announced that it would buy the Marda gold project, about 190 km from its Edna May operation in Western Australia for A$13-million. The company, which earlier this week launched a hostile takeover for Explaurum, said that the Marda resource could be a... 

Gold mining battling to attract capital – Holland

By: Martin Creamer     11th September 2018 Capital is not as easily available to gold mining companies as it used to be. Gold producers are having to compete with gold-linked alternatives and can no longer rely on equity as a guaranteed means of financing projects or addressing balance sheet gearing. Making these points at the... 

'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... 

Henry Jonker

By: Martin Creamer     7th September 2018 This week Mining Weekly features Henry Jonker, Vice President Mining & Minerals of the Europe, Middle East and Africa Region of Wood plc, the 240-employee project house 

Hundreds of Mazowe Mine employees in Zimbabwe reportedly to be retrenched

By: African News Agency      3rd September 2018 Hundreds of Mazowe Mine employees will reportedly lose their jobs after the company was put under care and maintenance in Zimbabwe. Mazowe Mine is part of the Metallon Corporation group which includes How Mine, Mazowe Mine, Shamva, and Redwing Mine. The employees have reportedly been given three... 

Gold Fields appoints Phuti Mahanyele as nonexecutive director

By: Marleny Arnoldi     28th August 2018 JSE- and NYSE-listed Gold Fields has appointed Phuti Mahanyele as an independent nonexecutive director, effective September 1. Gold Fields chairperson Cheryl Carolus said Mahanyele will offer the company strong financial, infrastructure development and commercial skills, as she has extensive... 

SOUTH AFRICAN MINE INVESTMENT DOWN UNDER:

By: Martin Creamer     24th August 2018 Construction cranes stand at the site of the processing plant at the Gruyere gold venture, in eastern Yilgarn, Australia, a 50-50 partnership between Gold Road Resources of Perth and Gold Fields of Johannesburg. Production at this 13-year life-of-mine is due to begin in the middle of next year,... 

On-The-Air (17/08/2018) 

By: Martin Creamer     17th August 2018 Yet another huge mine is in serious financial trouble, which is throwing up the dread of more mass retrenchment. South Africa should adopt the growth model that has proved so resoundingly successful for the economy of Canada. The Constitutional Court should be called upon to lift the veil of... 

Afraid of no-one and ready for a long strike, union leader tells Implats

By: Reuters     17th August 2018 Members of South Africa's AMCU mining union are ready to strike for a year if necessary and would bring the platinum belt to a standstill if Impala Platinum carries out plans to cut up to 13 400 jobs, the union's president said on Thursday. Joseph Mathunjwa, who led a five-month strike in 2014,... 

Gold Fields advances projects to ‘underwrite a better future’

By: Simone Liedtke     17th August 2018 NYSE- and JSE-listed Gold Fields aims to continue building new projects that will “underwrite a better future for [the miner] in terms of a longer life at lower costs”. This, CEO Nick Holland said during a conference call on Thursday, is particularly important, given the volatility of the gold... 

Gold Fields remains in ‘strong’ financial position, despite $367m loss, says Holland

By: Simone Liedtke     16th August 2018 Despite attributable losses from continuing operations for the six-month period ended June 30, of $367-million or $0.45 a share, CEO Nick Holland maintains that the NYSE- and JSE-listed Gold Fields remains in a strong financial position. Holland further noted on Thursday that the integrity of the... 

Mantashe blames Gold Fields bosses for mine woes

By: Reuters     16th August 2018 Gold Fields' plan to cut jobs at its struggling South African mine fails to address "poor management", Mining Minister Gwede Mantashe said on Thursday, piling pressure on CE Nick Holland. Gold Fields, which is due to report half-year results later, said this week it would cut 1 100 permanent jobs... 

Mining production increases 2.8% y/y in June

By: Marleny Arnoldi     14th August 2018 Mining production increased by 2.8% year-on-year in June, from a 1.8% decline in May, with the largest positive contributor being platinum group metals (PGMs), which rose by 28.2% and contributed 5.9 percentage points, says Statistics South Africa (Stats SA). Other positive contributors were... 

Minister decries Gold Fields’ job-cut plan at cash-burning South Deep

By: Martin Creamer     14th August 2018 They say South Deep will be the last gold mine standing, but every report coming out of it indicates that it is an extremely hard nut to crack, with production hopelessly below guidance. Since 2006, Gold Fields has pumped R32-billion into South Deep without even breaking even, let alone making a... 

Gold Fields expects to report lower H1 basic earnings a share

By: Marleny Arnoldi     8th August 2018 JSE- and NYSE-listed miner Gold Fields has advised that its basic earnings a share for the six months ended June 30 are expected to be at least 20% lower than the $0.07 reported for the six months ended June 30, 2017. The company will release its interim financial results on August 16.  

Miners set to spend $11bn in search of the next jackpot

By: Bloomberg     7th August 2018 Miners and investors are poring over satellite images, tracking drilling rigs and quizzing company executives for clues on whether the sector’s heavyweights are close to a new jackpot discovery. As Rio Tinto Group searches Australia’s Great Sandy Desert for copper and Anglo American scours a 19... 

Gold Fields completes acquisition of stake in Asanko mine

By: Anine Kilian     31st July 2018 JSE-listed Gold Fields has completed a joint venture (JV) transaction with Asanko Gold, giving it a 50% stake in Asanko’s 90% interest in the Asanko gold mine, in Ghana. “The closing of the transaction with Asanko gives us exposure to a great camp, with long-life, low-cost production, with... 

Gruyere’s price tag rises to A$621m on scope changes

By: Esmarie Iannucci     30th July 2018 An independent third party review of the definitive estimate for the Gruyere gold project, in Western Australia, has increased the capital cost estimate to A$621-million, up from the previous budget of A$532-million. Owners Gold Road Resources and Gold Fields said on Monday that the updated... 

Fate of South African gold rests on one giant, loss-making mine

By: Bloomberg     30th July 2018 Three thousand meters below the plains southwest of Johannesburg, teams of miners are toiling to revive the gold industry that underpinned South Africa’s economy for generations. The South Deep mine was built to target the world’s second-biggest known body of gold-bearing ore, a deposit that... 

Gold miner reflects on Ghana achievements

13th July 2018 Gold producer Gold Fields West Africa, a subsidiary of South Africa-based gold major Gold Fields, has invested significantly into the Ghana mining industry over the past 25 years, with shareholders, government and local communities that have and still are benefitting from the gold miner’s... 

Asanko focusing on Esaase development to expand production

By: Erin Steenhoff-Snethlage     13th July 2018 As part of its near-term organic growth strategy, Canadian junior gold producer Asanko Gold is focusing on expanding production at the Asanko Gold Mine (AGM) in Ghana, with the development of the Esaase gold deposit, within the 2018/19 calendar year. The AGM, commissioned in early 2016, comprises... 

Ghana approves Gold Fields, Asanko JV

By: Anine Kilian     22nd June 2018 The Ghanaian government has granted regulatory approval for the completion of Gold Fields’ joint venture (JV) with Canada-based Asanko Gold. Gold Fields and Asanko announced in March that the JSE-listed major would buy a 45% interest in the Asanko gold mine (AGM), in Ghana, for $185-million. 

New mechanisms launched to help former mineworkers claim in landmark silicosis case

By: African News Agency      20th June 2018 A new website and a Facebook page was launched on Tuesday in a bid to assist former mineworkers and their dependents who may be entitled to compensation that have made provisions for a Trust Fund to pay mineworkers who contracted silicosis or TB at work. The historic R5 billion settlement was... 

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. 

Ghana gold miners say welcome new government export tests

By: Reuters     31st May 2018 Gold mining giants in Ghana such as Newmont, Gold Fields and AngloGold Ashanti welcome new government tests to certify the value of their exports, the main industry association said on Wednesday. The tests that come in addition to customs checks and internal company tests are part of an attempt... 

Gold Fields to set aside acquisitions, sees industry costs rising – CEO

By: Reuters     30th May 2018 South Africa's Gold Fields is setting aside pursuit of new acquisitions for a year as it focuses on its existing operations and nearby prospects instead, the bullion producer's chief executive told Reuters late on Tuesday. Gold Fields' finances might be "a little bit negative" this year before... 

AfriTin seeks to raise £5.5m in share placement

By: Marleny Arnoldi     23rd May 2018 Aim-listed tin development company AfriTin Mining hopes to raise £5.5-million in an accelerated bookbuild to fast-track the work programme at its flagship Uis mine, in Namibia.  

EIUG, associate organisation appoint board members

By: Marleny Arnoldi     7th May 2018 The Energy Intensive User Group (EIUG) and its associated organisation, the Industry Task Team on Climate Change (ITTCC), on Monday announced their new chairpersons, who were elected at the yearly general meetings of the two bodies.  

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