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Endeavour Mining lifts Q1 earnings on higher sales

By: Henry Lazenby West Africa-focused gold producer Endeavour Gold has reported higher earnings attributable to shareholders as a result of improved sales and lower costs, which were somewhat offset by lower metals prices. For the three months ended March 31, the Vancouver-based corporation reported net earnings... 

Centerra Gold lifts Q1 profit on higher output, sales

By: Henry Lazenby Canadian gold producer Centerra Gold has experienced a significant jump in first-quarter earnings on the back of a 53% jump in ounces sold. The Toronto-based company after market close on Thursday reported net earnings of $40.7-million, or $0.17 a share, for the three months ended March 31,... 

Barrick Gold misses Q1 earnings forecast, to sell Chile copper mine 

By: Henry Lazenby The world’s largest gold producer by output Barrick Gold has missed Wall Street analyst’s average first-quarter earnings forecast, as lower metals prices and lower sales impacted the bottom line. For the three months ended March 31, TSX- and NYSE-listed Barrick reported net earnings of... 

Nordgold lifts Q1 gold output 26% y/y

Diversified low-cost gold producer Nordgold, which operates in Africa and Europe, on Tuesday reported that its gold output for the quarter ended March 31, at 266 000 oz, was 26% higher year-on-year. The company added that seven of its nine mines had achieved a year-on-year increase in production,... 

Shanta falters in Q1 after record 2014

By: Natasha Odendaal Despite delivering a record operational and financial performance for the year to December 2014, the first quarter of the new financial year saw East Africa-focused gold producer Shanta Gold falter against operational challenges. During the 12 months to December 2014, Shanta achieved 31% higher... 

Evolution acquires La Mancha’s Australian mines

By: Esmarie Swanepoel Gold miner Evolution Mining on Monday announced that it had entered into a binding agreement with private gold miner La Mancha to acquire all of that company’s Australian operations. The combination of the two companies would result in La Mancha becoming Evolution’s largest shareholder and... 

Drilling further increases Ghana gold project’s potential

ASX-listed gold producer Cardinal Resources last month announced that further down dip gold extensions were confirmed at its Namdini mining project, in Ghana, increasing the project’s gold bearing potential. Down dip extensions were confirmed at 13 m at 1.158 g/t from 53 m vertical depth, 10 m at... 

New generators to stabilise mine power supply by mid-April

West Africa-focused gold producer Perseus Mining has bought four new Caterpillar diesel-driven generators to boost the on-site power generating capacity at its Edikan gold mine, in Ghana. The generators, that were bought from power equipment supplier Mantrac Ghana for about $3.3-million,... 

West Africa mining summit to focus on challenges affecting region

By: Pimani Baloyi The 2015 Western and Central Africa (WaCA) Mining Summit and Expo, which will be held at the Accra International Convention Centre, in Ghana, on May 20 and 21, will focus on ways to mitigate the challenges facing the mining industry in these two regions. The summit’s theme – A Premier Showcase of... 

Newmont to build Phase 1 of Long Canyon mine

By: Henry Lazenby US gold producer Newmont Mining will build the first phase of Long Canyon, an oxide gold mine with significant upside potential in an emerging gold district located about 160 km from the company's existing Nevada operations. NYSE-listed Newmont said the first phase of development would comprise... 

Banro reports record Q1 output from DRC gold mines

By: Henry Lazenby Canadian gold producer Banro, which exploits the 210-km-long Twangiza-Namoya gold belt, in the South Kivu and Maniema provinces of the western Democratic Republic of Congo, has reported record first-quarter output. The company said its Twangiza operation successfully managed the unfavourable... 

Mining-induced earthquake research in final stages

By: Bruce Montiea Research institutions, led by the Council for Scientific and Industrial Research (CSIR) and Japan’s Ritsumeikan University, are in the final stages of a research project aimed at gaining a better understanding of mining-induced earthquakes.  Once the study is completed, it will assist the mining... 

Nord Gold lifts ore reserves 3% despite 2.3Moz exploration depletion

By: Natalie Greve Diversified gold producer Nord Gold has grown its ore reserves by 3% to 13-million ounces since 2012, despite the depletion of 2.3-million ounces during its 2013/14 exploration programmes. The London-listed group outlined in an exploration, mineral resources and ore reserves update for the year... 

Goldplat reports weighty losses for 2014

By: Megan van Wyngaardt Aim-listed gold producer Goldplat has suffered a £377 000 pre-tax loss and an £827 000 operating loss for the six months ended December 31, 2014, owing to the impact of refinery problems at its operations and increased exposure to gold price fluctuations. The Africa-focused miner said that, while... 

Randgold lifts 2014 reserves despite record gold production

By: Natalie Greve Notwithstanding a significant depletion from mining in a year that delivered record production of 1.15-million ounces, gold producer Randgold Resources succeeded in increasing its total attributable ore reserves by 0.8% in the 12 months ended December 31, 2014, to 15.2-million ounces. In... 

Golden Star Resources reports strong ROI for underground Ghanaian gold project

By: Henry Lazenby Ghana-focused gold miner Golden Star Resources has reported a strong return on investment (ROI) for its brownfield Wassa underground gold project at its currently operating Wassa openpit mine in the country and expected the development to transform the company into a lower-cost gold producer. The... 

Several miners appoint new senior executives

By: Henry Lazenby Thursday saw a slew of new senior executive appointments by several Canadian mining companies. West Africa-focused True Gold said it had appointed Christian Milau its new president and CEO, effective from April 27. The company, which was currently focused on developing the temporarily suspended... 

Resolute to move Mali gold mine underground by 2017

By: Creamer Media Reporter Australian gold producer Resolute Mining will accelerate its underground mining plan for its Syama gold mine, in Mali, and is targeting full production from underground mining by 2017. Announcing the outcome of a review interrogating its options at the mine, Resolute CEO Peter Sullivan said on... 

Besra inks heads of agreement to boost investment in Vietnam project

By: Henry Lazenby Canadian gold producer Besra has signed a heads of agreement that could potentially pave the way for a prominent Vietnamese financial institution to become a significant partner in the Phuoc Son project, while injecting new capital. The agreement provided for a coordinated investment in the Phuoc... 

Despite ‘complete crisis’ in gold industry, Randgold remains buoyant at low prices 

By: Henry Lazenby With a ten-year plan in hand that would ensure Africa-focused gold producer Randgold Resources would remain profitable at a gold price of $1 000/oz, CEO Mark Bristow on Wednesday accused the company's peers for having done a horrible job in recent years. Speaking during a breakfast presentation... 

Endeavour reports wider Q4 loss on impairment charges

By: Henry Lazenby Canadian gold producer Endeavour Mining has reported a significantly wider net loss for the three months ended December, as notable impairment charges on its Tabakoto mine, in Mali, weighed on financials. The ASX- and TSX-listed company on Thursday reported a net loss attributable to shareholders... 

Seal solution decreases the impact of dust on communities

By: Jonathan Rodin Environmental management company I-CAT Environmental Solutions – in partnership with gold producer and surface gold tailings retreatment expert DRD Gold – has reduced the impact of dust on communities in the vicinity of DRD’s tailing dam surrounding the FNB Stadium, in Johannesburg, by applying... 

Endeavour Mining raises stake in West Africa-focused Legend Gold

By: Henry Lazenby West Africa-focused gold producer Endeavour Mining has filed an ‘early warning report’, as required by National Instrument 62-103, after increasing its holdings in Mali-focused explorer Legend Gold to about 18.75%. Vancouver-based Endeavour had received a further 2.5-million Legend common shares,... 

Veris Gold gets another stay-period extension

By: Henry Lazenby North American gold producer Veris Gold has obtained another extension of the Supreme Court of British Columbia-ordered stay of proceeding against the company and its subsidiaries under the Canadian Companies' Creditors Arrangement Act (CCAA) up to March 3. Veris, which operates the Jerritt... 

AuRico Gold reports Q4 loss on Mexico impairment charges

By: Henry Lazenby Canadian gold producer AuRico Gold has slightly widened its net loss for the three months ended December 31, as impairment charges on its Mexican operation weighed on its bottom line. The Toronto-headquartered company reported $108.3-million, compared with a net loss of $106.4-million in the... 

Despite narrower Q4 adjusted earnings, Newmont Mining beats expectationss

By: Henry Lazenby NYSE-listed Newmont Mining on Thursday reported a narrower adjusted net profit, mainly owing to fewer ounces sold at lower prices, for the three months ended December 31. The Denver, Colorado-based company reported net income excluding special items for the period under review of $86-million, or... 

Nevada gold producer acquires mining leases

Emerging Nevada gold producer Pershing Gold Corporation has acquired the exclusive mining and surface use rights to about 1 600 acres of new long-term mining leases and 74 unpatented lode mining claims, comprising about 1 300 acres, from gold corporation Newmont USA for a consideration of... 

Prospectors & Developers Association appoints new executive director

The Prospectors & Developers Association of Canada (PDAC) last month announced the appointment of Andrew Cheatle as its new executive director, effective February 2. 

Goldcorp stock trends lower on earnings drop

By: Henry Lazenby The NYSE-listed stock of mining major Goldcorp trended lower on Thursday after the company reported a significant net loss for the fourth quarter ended December 31. The world’s largest gold miner by market valuation reported a net loss of $2.4-billion, or $2.94 a share, compared with a net loss... 

Acacia delivers 18% gold production jump in ‘watershed’ year

By: Natalie Greve Tanzania-focused gold producer Acacia Mining lifted gold production across all three of its producing mines by 13% to 718 651 oz for the year ended December 31. Gold production at Bulyanhulu increased by 18% to 234 786 oz, while Buzwagi lifted output by 15% to 210 063 oz – delivering its highest... 

Yamana Gold reports big loss on S American charges

By: Henry Lazenby South America-focused gold producer Yamana Gold has reported a significant net loss for the second consecutive quarter, as impairment charges for Brazilian mines and charges for newly enacted Chilean taxes have weighed on the bottom line.  For the three months ended December 31, Toronto-based... 

South Deep hits ‘low point’ in 2014 as skills deficit, downtime bite

By: Natalie Greve Despite the implementation of a strategy aimed at buffering gold producer Gold Fields from an enduring low gold price environment, the company said on Thursday that its key South Deep mine had been pushed to “its low point” in 2014. “South Deep remains challenging and the planned build-up for... 

Phoenix raises cash for St Ives buy

By: Esmarie Swanepoel Junior gold producer Phoenix Gold has placed about 50-million shares, at 10c each to raise A$5-million, with the miner on Monday announcing a share purchase plan (SPP) to raise a further A$1-million. The placement price represented a 13% discount to Phoenix’s last closing price on February 3,... 

African gold mine receives mobile firefighting set

By: Mia Breytenbach Pumps and pump components supplier Grundfos supplied a containerised firefighting set – the first Grundfos set of its kind to be supplied worldwide – to one of West African gold producer Perseus Mining’s gold mines, in Ghana, in October last year. The South African arm of the Denmark-based parent... 

Pumps, valves and pipes expo opens African mining opportunities

As pump and valve manufacturers and suppliers around the world are looking to grow their market share in Africa, particularly in the mining industry, the Pumps, Valves & Pipes Africa 2015 (PVPA) expo will showcase the latest products, solutions, projects and opportunities available. PVPA, a... 

Doray restructured financing to gain hold of cash flow

By: Esmarie Swanepoel Gold miner Doray Minerals has agreed to refinance and restructure its project finance facility, allowing the company improved access to cash flow to fund exploration and business development activities. MD Allan Kelly said on Thursday that following discussions with a number of domestic and... 

Randgold’s Kibali mine making waves in the DRC

By: Henry Lazenby Africa-focused gold producer Randgold Resources on Tuesday said the Kibali gold mine, in the Democratic Republic of Congo (DRC), was now well advanced into the second and final phase of development that would take it to full production by 2018. LSE- and Nasdaq-listed Randgold was currently... 

Iamgold reports localised rock burst at Westwood mine, Quebec

By: Henry Lazenby Canadian gold producer Iamgold reported late Thursday that a rock burst occurred underground in the afternoon at its Westwood mine, in Quebec, causing ground fall in a confined area. While, access for four people was initially blocked, they were not injured and were able to exit the mine safely.... 

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