http://www.miningweekly.com

Global Mining News in real time

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.... 

Patriot demands arbitration to resolve Northern Vertex option agreement

By: Henry Lazenby Emerging gold producer Patriot Gold has issued an arbitration demand to joint venture (JV) partner and optionee Northern Vertex Mining, citing unhappiness regarding the required scope and technical details of the bankable feasibility study (BFS) for the Moss gold/silver project, in Northwest... 

Centerra Gold’s Gatsuurt project gains 'strategic important' Mongolian status 

By: Henry Lazenby Canadian gold producer Centerra Gold’s Gatsuurt project, 35 km from its operating Boroo mine, in Mongolia, has been designated as a 'mineral deposit of strategic importance' by the Mongolian Parliament. The project milestone paves the way for Centerra to move forward within the country’s Water... 

Consultancy looking for new customers at Mining Indaba 2015

By: David D‘ Oliveira The Investing in African Mining Indaba is an excellent way to elevate the corporate profile of companies operating in the African mining arena, says Australian engineering and project management consultancy Lycopodium Minerals strategic development director Dr Greg O’Neil. Lycopodium will attend... 

Gold producer reveals plans for West Africa investment

By: Bruce Montiea With several existing developments in West Africa, internationally diversified low-cost gold producer Nordgold plans to invest further in the region and will update potential investors on its growth strategy at the 2015 Investing in African Mining Indaba, which is taking place at the Cape Town... 

HUNT AND BE HUNTED

By: Martin Creamer Mid-tier gold producer Iamgold is hunting for acquisitions while at the same time being prepared to be hunted itself. CEO Steve Letwin, above, expects a deal to eventuate this year for the Canadian-based company, which has $500-million in cash from a Canadian mine sale. Iamgold may use these... 

Monument advances Murchison drill programme, denied appeal in Selinsing case

By: Natalie Greve A third round of drilling results at Candadian gold producer Monument Mining’s Murchison gold project, in Western Australia, has confirmed the existing mineralised zones and intersected a number of isolated high-grade intervals outside of the currently defined mineralisation. The Murchison gold... 

AuRico Gold reports record Q4 output from Young-Davidson

By: Henry Lazenby Canadian gold producer AuRico Gold’s cornerstone Young-Davidson mine, near Matachewan, in Northern Ontario, has recorded its eleventh consecutive quarter of record gold output. Toronto-headquartered AuRico said on Wednesday before markets opened that its Young-Davidson mine was responsible for... 

Phoenix increases resource to more than 4Moz

By: Esmarie Swanepoel Junior gold producer Phoenix Gold has increased its mineral resource estimate by 6%, to more than four-million ounces. Phoenix on Wednesday reported that an updated resource model, completed by independent consultants, had increased the Kintore resource by some 686 000 oz, while the Castle Hill... 

Pumps Valves & Pipes Africa Opens African Mining Opportunities

The long-term future of mining in Africa looks bright, with solid growth in Ghana forecast to reach $3.8-billion in only four years. Tanzania, the fourth largest gold producer in Africa, will grow its mining sector to $1.28-billion in 2015. Angola is also expecting its massive mining growth to... 

Regis says output down 10% q/q

By: Esmarie Swanepoel ASX-listed gold producer Regis Resources has reported a decline in gold production for the three months to December, on lower throughput at its Garden Well operation, in Western Australia. Regis produced 80 065 oz of gold in the December quarter, compared with the 88 818 oz of gold produced in... 

Richmont Mines extends Ontario mine’s orebody to 1 200 m mark

By: Henry Lazenby Junior gold producer Richmont Mines on Thursday reported that ongoing exploration at its flagship Island Gold mine, in Ontario, had confirmed that the orebody extended to 1 200 m below surface. The Montreal-based miner, which had discovered a 1.1-million-ounce gold deposit beneath its operating... 

Barrick Gold to suspend Lumwana copper ops after Zambia passes new royalty law

By: Henry Lazenby Canada’s Barrick Gold Corp will suspend operations at its Lumwana copper mine, in Zambia’s Northwestern province, after the country enacted legislation that raised the royalty rate on openpit mining operations from 6% to 20%. TSX- and NYSE-listed Barrick, the world’s largest gold producer, said... 

Yamana Gold to spin out, sell some noncore Brazilian assets

By: Henry Lazenby Canadian gold producer Yamana Gold will spin out some of its noncore Brazilian assets into a new subsidiary next year, but would continue to consider strategic alternatives for these assets, including their possible outright sale. The Toronto-based miner on Wednesday said it had already made... 

Latest News

more

Latest Videos

more

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
R/€ = 13.09Change: 0.09
R/$ = 11.87Change: -0.04
Au 1206.30 $/ozChange: 1.62
Pt 1149.00 $/ozChange: -3.00
 
Subscribe Now for $96
Subscribe Now for $96 Close