Avion Gold posts $6.2m net loss, costs increase

TSX-listed Avion Gold on Wednesday said it took a net loss of $6.2-million or 1c a share during the first quarter, weighted down by higher production costs as it transitioned to underground mining and other one-off costs. These costs included a...

Russia's Polymetal sells gold deposit stake to Polygon

MOSCOW, May 14 (Reuters) - Russian miner Polymetal has sold a stake in its non-core gold deposit Veduga to Polygon Gold, a company founded by gold mining executive Leonard Homeniuk, the company said in a statement on Monday. Polymetal said the...

Avion Gold shares nose-dive on Mali disruptions

Stocks in TSX-listed Avion Gold plummeted on Wednesday, losing 31.71% during morning trading, after the company delayed an expansion in Mali. The Canada-based gold mining company is focused in West Africa and holds 80% of the Tabakoto and Ségala...

Wafi-Golpu to reduce Harmony’s cash costs

The Wafi-Golpu gold/copper project, in Papua New Guinea (PNG), would contribute to Harmony Gold’s aim of halving cash costs by 2023. CEO Graham Briggs said on Wednesday copper was expected to account for as much as 70% of the revenue of the...

Congo ex-rebels threaten AngloGold mining project

AngloGold Ashanti said on Monday its Mongbwalu gold mine in Democratic Republic of Congo (DRC) faces the obstacle of tens of thousands of ex-fighters already mining the area who do not want to leave. It plans to start Mongbwalu output late next...

Avocet to build new process plant at Inata

LSE-listed Avocet Mining on Friday said construction of a new processing plant at the Inata gold mine, in Burkina Faso, was expected to start late 2012. The West African gold mining and exploration company was currently undertaking a study for...

World Gold Council unveils conflict-free gold draft

The World Gold Council on Thursday unveiled a standard to curb the sale of gold tainted by conflict and human rights violations.

Goldplat profit soars, targets 1Moz resource by year-end

Aim-listed Goldplat on Monday reported strong growth for the six months to the end of December on the back of increased efficiencies at its gold recovery plants in South Africa and Ghana, and producing first gold at its Kilimapesa project, in...

Company Announcement: Doray Appoints Operations Manager

Doray Minerals Ltd (ASX: DRM) is pleased to advise that, in line with its stated objective to progress the Andy Well Gold Project (Doray 80%) into production by mid-2013, Mr Peter Bamford has today commenced as the Company’s Operations Manager.

SA gold mining a shadow of its former self

The improvement of the South African gold market will depend on the rate of global economic growth and the level of trust between governments which are two of the major gold price drivers, while South African mining activity in the gold industry...

Power, labour costs making SA an expensive mining destination

South Africa is one of the most expensive countries for gold mining, with the cost per ounce of gold produced averaging at $968, Gold Fields CEO Nick Holland said on Friday, delivering the miner’s financial results for the 2011 financial year....

Company Announcement: Signs Agreement with Central Rand Gold to Mine in South Africa

Goldplat plc, the AIM quoted gold producer, is pleased to announce that it has signed an agreement with Central Rand Gold Ltd’s wholly owned subsidiary Ferreira Estates and Investment Company Ltd, aimed at recommencing gold mining at the Crown...