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Moz authorities clear Xtract’s Manica gold acquisition

By: Anine Kilian     1st March 2016 Aim-listed Xtract Resources has received approval from the Mozambique mining authorities to complete the acquisition of 100% of the Manica gold project, in Mozambique, from Auroch Minerals. This was the final outstanding approval and all conditions had now been fulfilled to complete the... 

West African gold miners Perseus and Amara propose £68m deal

By: Esmarie Swanepoel     29th February 2016 ASX- and TSX-listed gold miner Perseus Mining on Monday announced a £68.3-million proposed combination with Aim-listed Amara Mining. The transaction would give Perseus access to Amara’s Yaoure gold project, in Cote d’Ivoire, and its Baomahun gold project, in Sierra Leone. 

Mining sector woes continue to limit economic growth in the territories in 2016

By: Creamer Media Reporter      25th February 2016 Declining metal and mineral prices, rising global inventories of most mining commodities and easing growth in the Chinese economy will weigh on Canada’s Aboriginal territories' economies this year, the Conference Board of Canada said on Wednesday. Nunavut and the Yukon were expected to see... 

Beadell to raise A$50m to fund growth opportunities

By: Mariaan Webb     22nd February 2016 Perth-based gold producer Beadell Resources on Monday announced it had received commitments to raise A$50-million in a share placement to domestic and international institutional and sophisticated investors. The company would place 256.4-million shares at A$0.195 a share, which was a discount of... 

Salt Lake’s Beta Hunt mine on track to double output by year-end

By: Henry Lazenby     16th February 2016 Takeover target Salt Lake Mining (SLM) is on track to double output from its Beta Hunt mine, a low-cost nickel and gold producer located in the prolific Kambalda mining district of Australia, even as TSX-listed Royal Nickel prepares to acquire the asset in a deal that would see it transform into... 

Newcrest to expand Lihir for less

By: Esmarie Swanepoel     15th February 2016 Australian gold producer Newcrest Mining on Monday reported that its board had approved the Lihir pit optimisation feasibility study, after a prefeasibility study (PFS) into a new plan proved viable. The purpose of the new PFS was to optimise the integrated life-of-mine plan for the Lihir... 

Demand for logging tool soars since October launch

By: Mia Breytenbach     12th February 2016 Demand from the mining industry for the REFLEX EZ-GAMMA driller operable, gamma logging tool, used in geological mapping, has markedly increased since its launch in October last year, states downhole instrumentation, data management and data analysis technologies provider REFLEX. The REFLEX... 

Major Canadian gold producer to release 2016 guidance

     12th February 2016 Canadian gold producer Goldcorp, which could seek to expand its footprint beyond the Americas, expects to release its 2016 guidance after the markets close on February 25. In January, Reuters reported that the company would have to look for large scale assets outside the Americas as these become... 

Construction at True Gold’s Karma almost complete 

By: Anine Kilian     11th February 2016 Construction at Toronto-listed gold producer True Gold’s Karma gold mine is 94% complete, with on-site commissioning currently under way, the company reported on Thursday. In the six months ended December 31, 2015, management forecast that the remaining project spend to completion would be... 

Richmont announces exploration success

By: Henry Lazenby     9th February 2016 Gold producer Richmont Mines has increased the compliant proven and probable reserves at its two largest operations by 187%, lifting the reserves at its flagship Island Gold mine near Wawa, Ontario, by 206% (net of depletion) and increasing reserve grade by 29%. As of December 31, the TSX- and... 

Mining companies tread carefully when considering exploration

By: Kim Cloete     9th February 2016 Mining companies are becoming more circumspect when they decide which countries to invest in when it comes to exploration, a panel at the 2016 Investing in African Mining Indaba in Cape Town has heard. They are also faced with increasing attention from nongovernmental organisations (NGOs) and... 

Shareholders approve Malagasy's change of pace

By: Esmarie Swanepoel     4th February 2016 ASX-listed Malagasy Minerals would fast-track its plans to become a Western Australian gold producer, after shareholders approved the acquisition of the Karlawinda project. Malagasy has previously agreed to acquire unlisted Greenmount Resources, which owns the Karlawinda project, for... 

Kirkland Lake pours millionth gold ounce at Macassa

By: Henry Lazenby     3rd February 2016 Ontario-focused miner Kirkland Lake Gold has poured its millionth ounce of gold at the Macassa Mine Complex, since declaring commercial production in 2003. In addition to marking a historic milestone for the TSX-listed company, it brought the mining camp’s historical production to more than... 

Aureus seeks to enhance shareholder value

By: Megan van Wyngaardt     2nd February 2016 Dual-listed gold producer Aureus Mining’s shares on the LSE dipped on Tuesday, as it announced the establishment of a special committee to conduct a review of strategic options to enhance shareholder value. The committee would comprise independent, nonexecutive directors Jean-Guy Martin, Loudon... 

Sibanye concludes WCC due diligence, revised term sheet expected

By: Natasha Odendaal     2nd February 2016 A revised term sheet for Sibanye Gold’s proposed refinancing of Waterberg Coal Company (WCC) is expected to emerge after the gold producer completed its legal, technical and financial due diligence. WCC on Tuesday said in a quarterly update that Sibanye remained “desirous” of the deal; however,... 

Acquisitions establish Royal Nickel as copper, gold producer

By: Henry Lazenby     1st February 2016 Project developer Royal Nickel Corp (RNC) on Monday announced two acquisitions that would transform the company into a cash-generating low-cost nickel, copper and gold producer. The Toronto-based company’s TSX-listed stock gained as much as 31% on Monday to C$0.21 apiece, after the company... 

New intermediate miner Kirkland Lake closes St Andrew Goldfields acquisition

By: Henry Lazenby     28th January 2016 TSX-listed Kirkland Lake Gold has completed the acquisition of St Andrew Goldfields, creating a new mid-tier Ontario-focused gold producer. St Andrew had become a wholly-owned subsidiary of Kirkland Lake, after shareholders received 0.0906 of a common share of Kirkland Lake for each St Andrew... 

Aureus’s lenders approve debt repayment deferral

By: Henry Lazenby     27th January 2016 West African gold producer Aureus Mining has received final credit approval from its group lenders to defer the first debt repayment, which is due on January 31. 

Eldorado remains committed to Greek assets, despite $1.2bn preliminary impairment

By: Samantha Herbst     25th January 2016 TSX- and NYSE-listed low-cost gold producer Eldorado Gold Corporation, which earlier this month suspended mine construction and development at Skouries mine in northern Greece, expects to write down the value of its Greek assets by $1.2-billion to $1.6-billion (after tax), according to a... 

B2Gold reports fatality at Namibian mine

By: Henry Lazenby     23rd January 2016 Vancouver-based gold producer B2Gold on Friday reported that death of an employee at the Otjikoto mine, in Namibia, which declared commercial production early last year. The machine operator was injured at the mine in December and passed away this morning from injuries sustained from the accident... 

Faster, easier access to orebodies

By: Mia Breytenbach     22nd January 2016 JSE-listed drilling solutions provider Master Drilling will not only exhibit but also launch a new technological advancement – a mechanised blind shaft boring system – at this year’s Investing in African Mining Indaba, following a successful experience at the 2015 Cape Town-based event. Master... 

Improved valuations of mining companies expected this year

By: Mia Breytenbach     22nd January 2016 Although mining company valuations have decreased after an ongoing market correction over the past four years, investment firm Commodity Discovery Fund predicts a strong recovery this year, believing the fundamentals for precious metals to be favourable. “History indicates that commodity markets... 

Oil specialist eyes Q2 launch for lubrication management programme

By: Mia Breytenbach     22nd January 2016 Oil condition monitoring company WearCheck will launch its LubriGard lubrication management programme, which is being trialled at several coal mines in the Middelburg-Steelpoort area, in Mpumalanga, in the second half of this year. A member of Torre Industries, the company aims to drive market... 

Schwalbe

     22nd January 2016 Focused on providing products and services while ensuring competitiveness in quality, reliability and price, South Africa-based drilling equipment supplier Schwalbe’s product lines have been supplied to and also tested with favourable results achieved by companies such as gold producer Anglo Gold... 

Randgold inks three new DRC gold exploration JVs

By: Henry Lazenby     20th January 2016 Africa-focused gold producer Randgold Resources has entered into three new joint-venture (JV) agreements with juniors in the north-east of the Democratic Republic of Congo (DRC) to look for gold deposits. The company has partnered with TSX-listed Kilo Goldmines, Deveron Resources and Loncor... 

True Gold inks $10m refinancing deal with precious metals merchant

By: Natalie Greve     12th January 2016 Toronto-listed gold producer True Gold has entered into an equipment refinancing facility with precious metal merchant Auramet International for $10-million, the company said on Monday. “This fixed cost equipment loan gives us flexibility to draw funds that can be used for non-project spending,... 

Aureus completes Sarama takeover deal

By: Megan van Wyngaardt     6th January 2016 Dual-listed gold producer Aureus Mining has completed the acquisition of three exploration licences from Sarama Investments, a wholly-owned subsidiary of Sarama Resources, for a total consideration of 6.64-million Aureus common shares. The acquired licences were contiguous to the company's Bea... 

Waterberg requests extension of ASX share suspension

By: Natalie Greve     18th December 2015 JSE-listed The Waterberg Coal Company has made a request to the ASX for an extension to its current voluntary suspension in the trading of its securities, which expires prior to the start of trade on December 21. This would, it outlined in a statement on Friday, allow it time to finalise a... 

Kidman sets sights on Mt Holland

By: Esmarie Swanepoel     18th December 2015 ASX-listed junior Kidman Resources on Friday entered into a non-binding heads of agreement (HoA) to acquire the Mt Holland gold field, in Western Australia, for A$3.5-million. Under the terms of the agreement, Kidman would acquire the project for A$500 000 in cash and A$1.5-million worth of... 

DRDGold ploughs R600m into enviro management programme

By: Jade Davenport     11th December 2015 In the comparatively dry climate of the South African Highveld, wind-borne dust and sand have always been a significant irritation, especially to residents of the industrial and mining centres of Johannesburg. The main sources of the dust and sand, at least from an historical perspective, have... 

Copper production cuts abound as industry hit by six-year price low

     4th December 2015 Copper-laden African countries are seeing investors pull back on copper output to withstand the effects of the troubled sector and emerge intact once it turns around. 

Jaw crushers and apron feeders to increase DRC gold mine’s crushing output

     4th December 2015 Elandsfontein-based manufacturer Osborn Engineered Products South Africa has received a significant export order for jaw crushers and apron feeders for the Kibali gold mine, in the Democratic Republic of Congo (DRC). Kibali, owned by gold producer Randgold Resources, has a reserve base of... 

Endeavour completes La Mancha buy

By: Esmarie Swanepoel     30th November 2015 Dual-listed gold miner Endeavour Mining has completed the acquisition of gold investment company La Mancha Holdings’ assets. Endeavour’s shareholders in early November approved a partnership with La Mancha, would see the gold miner acquire La Mancha’s indirect 55% interest in Société des Mines... 

Barrick cuts FY guidance on Pueblo Viejo mechanical issues

By: Henry Lazenby     24th November 2015 Canadian gold producer Barrick Gold has cut is full-year output guidance as a mechanical issue at the Pueblo Viejo mine, in the Dominican Republic, is expected to result in lower output at the operation until mid-January 2016. TSX- and NYSE-listed Barrick now expected to produce 6-million to... 

Alecto acquires Zambian gold deposits

By: Megan van Wyngaardt     23rd November 2015 Africa-focused gold and base metals developer Alecto has entered into an agreement to buy Luiri, which owns the 760 000 oz Matala and Dunrobin Gold Mines (the project), in Zambia, for £1.54-million. Alecto would issue 943-million new ordinary shares with an aggregate value of £1.13-million, pay... 

Two B2Gold employees rescued in Mali terrorist siege

By: Henry Lazenby     21st November 2015 Canadian gold producer B2Gold on Friday advised that two of its employees were safely extracted by antiterrorist soldiers, after a terrorist group took hostages at the Radisson Blu Hotel, in Bamako, Mali. The triple-listed miner confirmed that two employees were staying at the hotel at the time... 

Goldplat commissions 4 t elution column

By: Megan van Wyngaardt     18th November 2015 Africa-focused gold producer Goldplat has commissioned the first of the 4 t elution columns acquired from DRDGold, at its Goldplat Recovery operations, near Benoni, in Gauteng. The Aim-listed company said in a statement on Tuesday that the completion of this project, on schedule, was an important... 

Court orders AngloGold Ashanti to reinstate dismissed AMCU members

By: Ilan Solomons     13th November 2015 Association of Mineworkers and Construction Union (AMCU) president Joseph Mathunjwa called on gold producer AngloGold Ashanti last week to reinstate 539 of its members at the Moab Khotsong mine, in Gauteng, in line with a Labour Court ruling. AngloGold Ashanti dismissed the 539 workers for... 

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