R/€ = 14.90 Change: -0.06
R/$ = 12.17 Change: -0.04
Au 1331.72 $/oz Change: -4.73
Pt 1012.50 $/oz Change: -0.51


Gruyere construction nearly one-third complete

By: Creamer Media Reporter      18th January 2018 The Gruyere gold project, which Australian junior Gold Road and South African major Gold Fields are building in a 50:50 joint venture near Laverton, Western Australia, is advancing according to schedule. With early works at Gruyere having started in December 2016, construction has now been in... 

Hummingbird’s Yanfolila pours first gold, maintains commercial production ramp-up plans

By: Mia Breytenbach     16th January 2018 With Aim-listed Hummingbird Resources having started gold production at its Mali-based Yanfolila gold mine on time and within budget in the second half of last month, the gold producer remains on track with its ramp-up to commercial production. Since acquiring the project from Gold Fields in... 

SCA postpones silicosis class action hearing

By: Megan van Wyngaardt     10th January 2018 The ongoing silicosis and tuberculosis class action litigation against South African gold miners has been postponed, following a request by representative attorneys to the registrar at the Supreme Court of Appeal (SCA) to do so. The SCA has granted approval for the postponement. The joint letter... 

Company moves forward with tailings retreatment project

By: Marleny Arnoldi     15th December 2017 Aim-listed Goldplat PLC’s recovery operation in South Africa, Goldplat Recovery, will be investing in a tailings retreatment project during 2018, as its growth over the past decade has resulted in the operation accumulating a large tailings stock dam.  

Gold Fields Ghana to dismiss 1 500 staff as contractor hired

By: Bloomberg     12th December 2017 Gold Fields’ unit in Ghana said it will dismiss 1 500 of its own staff as the company is hiring a contractor to operate its biggest mine in the West African nation. A contractor will take charge of the Tarkwa operations from early 2018 as the deposit’s remaining life span is too short to replace... 

Neal Froneman

By: Martin Creamer     8th December 2017 This week Mining Weekly again features Neal Froneman, the CEO of precious-metals mining company Sibanye-Stillwater, which last month struck a deal with DRDGold to monetise its gold tailings dumps on the West Rand 

Former South African Reserve Bank governor joins Glencore board

By: Creamer Media Reporter      7th December 2017 Diversified mining group Glencore has appointed the former governor of South Africa’s Reserve Bank, Gill Marcus, to its board as a nonexecutive director. Announcing the appointment on Thursday, chairperson Tony Hayward said that Marcus would be an asset to the Glencore board. 

On-The-Air (24/11/2017) 

By: Martin Creamer     24th November 2017 Turning mine dump sand into gold received a major boost this week when Sibanye and DRDGold joined forces; Sasol this week announced a new growth strategy that shuns its pioneering technologies of turning coal into petrol and gas into diesel; Gold Fields this week became the second mining company... 

Lower-than-guidance 2018 output expected at South Deep

By: Dylan Slater     24th November 2017 The production target for Westonaria-based South Deep gold mine, in Gauteng, is expected to be marginally lower next year than that initially laid out in the miner’s rebase plan, owing to a challenging first quarter this year, notes Gold Fields CEO Nick Holland.  

Gold Fields invests R6m to boost mechanised mining skills

By: Nadine James     22nd November 2017 South African gold miner Gold Fields on Wednesday announced a R6-million, three-year partnership with the University of the Witwatersrand (Wits) to further academic knowledge in the field of mechanised mining and rock engineering in South Africa. Gold Fields CEO Nick Holland and Wits... 

Gold miners shifting focus back to growth

By: Megan van Wyngaardt     22nd November 2017 While global gold miners will gradually shift their focus from financial austerity to growth through acquisitions and increased spending, miners operating in sub-Saharan Africa (SSA) will face elevated costs owing to regulatory uncertainty, power shortages and labour unrest, according to... 

Gold Road locks in portion of Gruyere’s production

By: Creamer Media Reporter      20th November 2017 Gold development and exploration company Gold Road, which is building the Gruyere gold mine in a joint venture with South Africa’s Gold Fields, has entered into forward sales with two major banks for up to 200 000 oz of Australian dollar denominated forward sales. To date, the company has locked... 

Cora Gold lists on Aim; to advance Mali exploration

By: Anine Kilian     9th October 2017 West Africa-focused gold developer Cora Gold has started trading on the Aim. As part of the admission process, the company has raised £3.45-million through the placing and subscription of 20.93-million new ordinary shares at a placing price of 16.5p each, implying a market capitalisation of... 

New chairperson for Wits rock engineering department

By: Ilan Solomons     6th October 2017 As a leading school in the field of rock engineering, the University of the Witwatersrand (Wits) School of Mining Engineering has appointed Professor Rudrajit Mitra as centennial chairperson of the school’s rock engineering department. He joins Wits from the University of New South Wales (UNSW)... 

Exploration spend will be WA royalty hike’s first casualty

By: Esmarie Swanepoel     4th October 2017 Western Australian gold miners have warned the state government that an increase in gold royalties would not only result in massive job losses across the state, but could also jeopardise the future of the sector as less money will be put towards exploration. Speaking at a round-table in Perth on... 

Red 5 outlines plans for newly acquired WA gold assets

By: Esmarie Swanepoel     2nd October 2017 ASX-listed Red 5 has joined the rank of Australian gold producers after completing the purchase of the King of the Hills and Darlot gold mines, in Western Australia. The company in August unveiled plans to acquire the Darlot gold mine from South Africa’s Gold Fields for a total consideration of... 

New brand to be showcased at event

     29th September 2017 Mining company Sibanye-Stillwater will be showcasing its newly launched brand as a mining industry partner sponsor at The Joburg Indaba, which will be held at the Inanda Club, in Sandton, from October 4 to 5.  

Red 5 warns of further impairments

By: Esmarie Swanepoel     21st September 2017 Gold miner Red 5 has warned of a noncash impairment of between A$28-million and A$30-million on the carrying value of its Siana gold project, in the Philippines. The impairment charge expected to be recorded in the June year-end will be in addition to the A$70.4-million expense recorded in the... 

Market Report: How carbon is shaping energy for mines

By: Creamer Media Reporter      20th September 2017 By Catherine Skrzypinski, Energy and Mines Alongside power security and cutting energy costs, reducing the emissions intensity of mining operations has been elevated to a top strategic concern for the global mining sector. The combination of carbon pricing in key mining markets and increased... 

Moody’s praises South African miners’ restructuring initiatives

By: African News Agency      12th September 2017 Moody’s Investor Relations on Tuesday praised the restructuring initiatives made by South African gold and platinum group metals (PGM) miners in a bid to protect the sustainability and profitability, saying that these were benefiting their credit profiles. In a report on Tuesday, Moody’s vice... 

Unnurtured mining industry will disappear – Sibanye-Stillwater 

By: Martin Creamer     30th August 2017 An unnurtured South African mining industry will disappear, Sibanye-Stillwater CEO Neal Froneman warned on Wednesday, when he slated the regulator for allowing illegal mining activity to spiral out of control and for causing equity risk and the cost of capital to rise, placing mining companies at... 

Appointments follow acquisition of only US PGMs miner

     25th August 2017 Independent mining group Sibanye has appointed three executives following its acquisition of the only platinum group metals (PGMs) miner in the US, Stillwater Mining, in May, when its organisational structure subsequently repositioned from a divisional commodity structure to a geographical... 

ARM FY headline earnings to increase; company sets R330m aside for silicosis claims

By: Creamer Media Reporter      21st August 2017 Diversified miner African Rainbow Minerals (ARM) expects its headline earnings a share for the 2017 financial year to be between R16.25 and R17.02, 229% to 245% higher than the headline earnings a share of R4.94 achieved in the 2016 financial year. The JSE-listed company noted in a trading... 

A cosmic theory and two-inch lump of gold drive Novo's 500% surge

By: Bloomberg     21st August 2017 Quinton Todd Hennigh has spent 13 years scouring the Earth for clues to back a hunch: that the world’s biggest gold resource has lost siblings elsewhere on the planet. Now the president of Novo Resources Corp thinks he may have found a counterpart of South Africa’s Witwatersrand in the ancient... 

Explorer overcomes funding crunch, targeting first gold pour at Mali project by year-end

By: Ilan Solomons     18th August 2017 It is common knowledge that securing investment for exploration projects, particularly for junior operators, has been “extremely challenging”, owing to the current tepid global economic climate and low commodity prices, emerging gold miner Hummingbird business development head Robert Monro tells... 

Explorer overcomes funding crunch, targeting first gold pour at Mali project by year-end

By: Ilan Solomons     18th August 2017 It is common knowledge that raising investment for exploration projects, particularly for junior operators, has been “extremely challenging”, owing to the current tepid global economic climate and low commodity prices, emerging gold miner Hummingbird business development head Robert Monro tells... 

It’s time for industry to stand up – Holland

By: Natasha Odendaal     17th August 2017 Dual-listed Gold Fields will oppose the new Mining Charter Three “with everything its got” as the mining industry stands firm in the standoff with the Department of Mineral Resources (DMR). Backing the action taken by the Chamber of Mines (CoM), Gold Fields CEO Nick Holland on Thursday said that,... 

Red 5 raises cash for gold buy

By: Esmarie Swanepoel     17th August 2017 ASX-listed gold miner Red 5 has launched a nonrenounceable rights issue with the aim of raising some A$12.7-million to fund the initial cash consideration to acquire all of the shares in Darlot Mining company. The one-for-three nonrenounceable rights issue will be priced at 5c a share, with more... 

Nedbank debt-financing African mining projects to the tune of $7bn

By: Ilan Solomons     11th August 2017 Investment banking services provider Nedbank Corporate and Investment Banking (CIB) is providing the African mining industry with about $7-billion in debt financing products and says it remains open for business opportunities across the continent. Nedbank CIB mining finance principal Paul Miller... 

Mining needs more activist investors, top gold producer says

By: Bloomberg     8th August 2017 Mining companies could benefit from more investor activism in the wake of Elliott Management’s campaign for improved performance at BHP Billiton, according to Australia’s second-largest gold producer. The sector’s record of returns warrants closer scrutiny from shareholders, Evolution Mining... 

Cashed-up Australian gold miners set to take deals global

By: Bloomberg     4th August 2017 Australia’s top gold producers are set to take their $5-billion acquisition spree global to secure growth as domestic opportunities fade and bullion’s gains swell their cash piles. Companies including Evolution Mining and Northern Star Resources, Australia’s No. 2 and No. 3 producers, may be... 

Gold Fields sells Australian gold mine

By: Martin Creamer     3rd August 2017 A wholly owned subsidiary of the Australian Stock Exchange-listed mining company Red 5 has bought the Darlot gold mine in Western Australia from South Africa’s Gold Fields for A$18.5-million. In the past three years, Darlot produced more than 241 000 oz of gold. 

Red 5 unveils new A$34m growth strategy

By: Esmarie Swanepoel     3rd August 2017 Gold miner Red 5 on Thursday unveiled a new growth strategy, centred on the acquisition of a new high-quality asset portfolio in the Eastern Goldfields region of Western Australia. The company said it would acquire the Darlot gold mine from South Africa’s Gold Fields for a total consideration of... 

Gold Fields expects lower H1 earnings; sets $30m aside for lung disease claims

By: Creamer Media Reporter      27th July 2017 Stronger exchange rates on converting local currency costs to dollar, an increase in amortisation and a financial provision to potentially settle silicosis claims will result in an up to 50% year-on-year decrease in JSE- and NYSE-listed Gold Fields’s earnings per share (EPS) and headline earnings... 

Mali gold project production targeted for December

By: Simone Liedtke     14th July 2017 Multi-asset gold company Hummingbird Resources is developing the advanced Yanfolila gold project, in Mali, as a low-cost, high-grade openpit mining operation, with first gold production targeted for December. 

Sibanye appoints Southern Africa executive VP

By: David Oliveira     13th July 2017 JSE- and NYSE-listed precious metals miner Sibanye Resources has appointed Robert van Niekerk the company’s executive VP for the Southern Africa region. Van Niekerk joined Sibanye in February 2013 as part of the executive team, fulfilling various roles within the organisation, including, most... 

Kin exercises option to buy idled Gold Field plant for Leonora

By: Mariaan Webb     30th June 2017 Gold developer Kin Mining has exercised its option to buy the idled Lawlers gold processing plant from Gold Fields’ Agnew mine for A$2.5-million. The company intends to use the 800 000 t/y plant, which had been on care and maintenance for about two years, at its Leonora gold project, which is... 

Gruyere JV's capital cost estimate adjusted

By: Esmarie Swanepoel     21st June 2017 The capital cost of the Gruyere gold joint venture (JV), in Western Australia, has increased from A$507-million to A$532-million, following an engineering, procurement and construction review by the JV partners. ASX-listed Gold Road Resources on Wednesday told shareholders that since the JV was... 

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