Global Mining News in real time


Alamos stocks surge on positive outlook

By: Henry Lazenby Intermediate gold producer Alamos Gold’s NYSE-listed stock on Wednesday rose 13% on the back of positive second-quarter results. Toronto-based Alamos did not report its financials on a consolidated basis following its merger with AuRico Gold, as the transaction only closed on July 2, subsequent... 

Anaconda targeting 'aggressive organic growth' from Newfoundland platform

By: Henry Lazenby TSX-listed Anaconda Mining, the only pure play gold miner east of Quebec, has set itself the goal of roughly doubling its current gold output through aggressive organic growth and a loftier target of adding about 100 000 oz/y to its portfolio through mergers and acquisitions (M&As). Speaking at... 

McEwen narrows loss, drops certain Nevada exploration properties

By: Henry Lazenby Copper and gold producer McEwen Mining this week reported a net loss of $14.1-million, or $0.05 a share, for the second quarter ended June, compared with a net loss of $104-million, or $0.35 a share, for the comparable period a year earlier. The net loss was attributable to an impairment of... 

Barrick cuts dividend by 60%, cuts capex and plans further asset divestures

By: Henry Lazenby The world’s largest gold producer by output Barrick Gold has cut its dividend, lowered or deferred capital spending plans and will continue with noncore asset divestures as it seeks to repair and strengthen its debt-heavy balance sheet. The Canadian company had slashed its quarterly dividend by... 

Drill campaign ups resource, dents reserves at New Luika

By: Natalie Greve A January infill drilling campaign at East Africa-focused gold producer Shanta Gold’s New Luika gold mine, in Tanzania, has increased the resource at both the Bauhinia Creek (BC) and Luika targets, further improving the confidence in the potential for underground mining at each deposit, the... 

Barrick Gold’s board thins as independent director resigns

By: Henry Lazenby Ned Goodman has, after a 15-month stint, resigned as independent director of Barrick Gold to focus on a new business venture in resources and other hard assets. He joined the Barrick board in April last year, at a time when the company moved to bring new experience to the table and increase the... 

Approval received to extend Ghana mining operations

The Ghana Environmental Protection Agency in May approved the supplementary environmental impact statement for West African gold producer Perseus Mining’s Edikan gold mine, in Ghana. 

Company counters third-party backlog

African gold producer Goldplat in June announced that significant progress has been achieved at its gold recovery businesses Goldplat Recovery Limited (GPL), in South Africa, and Ghana Gold Recovery Ghana (GRG) in Ghana. 

Updated mine compliance report submitted

ASX- and TSX-listed West African gold producer Perseus Mining announced that an updated National Instrument 43-101-compliant technical report has been prepared and filed with Canadian regulatory authorities following the recent release of its feasibility study for the development of the Sissingué... 

Bohm to join Tawana board, expects to add value to Mofe Creek

By: Megan van Wyngaardt JSE-listed Tawana Resources appointed Michael Bohm to its board as an independent nonexecutive director, effective August 1. “We are delighted that Bohm has joined the board and recognise the extensive corporate and project development skills he brings to the role, with the particular emphasis of... 

Canadian firm eyeing 112 000 oz Tanzania gold project

By: Ilan Solomons Canadian gold producer and investments company AfroCan Resources Gold aims to acquire a Tanzanian property with a 112 000 oz inferred resource. AfroCan CEO Brian Barrett tells Mining Weekly that the company is evaluating exploration company Tanzania Royalty Exploration Corporation’s (TREC’s)... 

Pershing lists on Nasdaq, to trade from July 6

By: Megan van Wyngaardt Nevada-based gold producer Pershing Gold has been approved to list its common stock on the Nasdaq global market. It would formally start trading on July 6. 

Nevada Copper announces new director

By: Sashnee Moodley Mining company Nevada Copper has appointed James Askew to its board of directors, with president and CEO Giulio Bonifacio stating that his appointment would add value as the company moved its Nevada-based Pumpkin Hollow copper development project forward to production. 

Andy Wells achieves another record monthly gold output

By: Natasha Odendaal Despite a delayed start to the openpit mining operations, ASX-listed Doray Minerals on Tuesday posted record monthly output from its Andy Well gold project, in Western Australia. The Australian gold producer, develop and explorer achieved record monthly gold production of 10 591 oz of gold at... 

Court approves Zijin’s acquisition of Norton

By: Creamer Media Reporter The Federal Court of Australia on Friday approved China’s Zijin Mining’s acquisition of Norton Gold Fields. Under the scheme of arrangement between the companies, Norton shareholders will receive 25c in cash for each share they hold. 

Goldcorp adds $1bn to debt facility

By: Henry Lazenby Canada’s Goldcorp, the world’s largest gold producer by market value, has lifted its credit facility by $1-billion to $3-billion and extended the term to June 10, 2020, under existing terms and conditions. The unsecured, floating-rate facility bore interest at the London Interbank Offered Rate... 

PanAust delists following Gram takeover

By: Esmarie Swanepoel The shares of takeover target PanAust have officially been suspended from the ASX, following a successful takeover from suitor Guangdong Rising Asset Management (Gram). At the start of June, Gram launched a compulsory acquisition of the remaining shares in PanAust, after the company obtained... 

Newmont to buy Colorado's largest gold mine from AngloGold for $820m

By: Henry Lazenby US gold major Newmont Mining on Monday announced that it would buy South African miner AngloGold Ashanti’s Cripple Creek and Victor (CC&V) mine, in Colorado, for about $820-million in cash and a net smelter return royalty. In a regulatory filing, Newmont on Monday also announced a stock offering... 

Banro lifts Twangiza reserves 59%, extends mine life to 14 yrs

By: Henry Lazenby Canadian gold producer Banro has lifted the compliant reserve base at its flagship Twangiza mine, in the Democratic Republic of Congo (DRC), by 59% and extended the mine life to 14 years. The TSX- and NYSE MKT-listed miner exploited the 210-km-long Twangiza-Namoya gold belt, in the South Kivu and... 

Kyrgyzstan govt extends Kumtor mine permits by a month

By: Henry Lazenby Canadian gold producer Centerra Gold has received a one-month extension on its emissions and waste disposal permits at the Kumtor mine, in Kyrgyzstan. The Kyrgyz Republic State Agency of Environmental Protection and Forestry (SAEPF) had advised Kumtor that it was not necessary to suspend... 

OceanaGold gains fourth NZ mine as Newmont formalises pact to sell

By: Henry Lazenby US gold producer Newmont Mining has formalised a $106-million deal that has increased Australasia-focused OceanaGold's operating mines in New Zealand to four. The Waihi gold mine is about 150 km south-east of Auckland on the Oceania-nation’s North Island and will expand OceanaGold's output by... 

Aureus achieves first gold pour at Liberia project

By: Natalie Greve West African gold producer Aureus Mining has successfully completed the first gold pour at its New Liberty gold project, in Liberia, moving the project into the advanced commissioning phase and rendering it on track to reach full-scale commercial production in the third quarter of the year. “This... 

Iamgold pays Sanatana more than $400 000 following failed easement application

By: Henry Lazenby Canadian explorer and project developer Sanatana Resources has received $403 189.86 from international gold producer Iamgold, who paid on behalf of subsidiary Trelawney Mining and Exploration, for the full costs awarded by the Ontario Mining and Lands Commissioner (MLC) regarding Trelawney's... 

China's Zijin Mining extends global reach with Barrick, Ivanhoe partnerships; Aus offer

By: Henry Lazenby One of China’s largest mining companies Zijin Mining Group has extended its global reach after forming two new long-term mining partnerships with Western miners, while sustaining an aggressive pursuit of an Australian gold miner.  The world’s largest gold producer by output Barrick Gold on... 

Zijin increases offer for Norton

By: Esmarie Swanepoel Chinese suitor Zijin Mining Group has increased its takeover offer for ASX-listed gold producer Norton Gold Fields from 23c a share to 25c a share. The increase in the offer price followed discussions with certain parties which committed to support the takeover offer at the increased price. 

Eldorado Gold renews share purchase scheme

By: Henry Lazenby Canadian gold producer Eldorado Gold has renewed its share-buying programme for another year to satisfy obligations under its restricted share unit plan (RSU plan) for employees, officers of the company or a related entity as designated by the board. Eldorado on Friday reported that the TSX had... 

B2Gold secures $350m revolver

By: Henry Lazenby Triple-listed gold producer B2Gold has secured a new $350-million revolving credit facility (RCF) with a syndicate of international banks to repay its existing $200-million RCF, of which $125-million had been drawn as at March 31, and for general corporate purposes. B2Gold, with operations and... 

CRG to raise operating cash through new placing

By: Megan van Wyngaardt To strengthen its balance sheet, while providing working capital to undertake continued surface mining operations and a programme of plant upgrades and efficiency processes, dual-listed gold producer Central Rand Gold (CRG) will seek to raise £600 000 through the placing of 2.55-million new... 

Goldcorp again named to Nasdaq Sustainability Index

By: Henry Lazenby NYSE-listed Goldcorp reported on Tuesday that it had, for the second consecutive time, been included in the semiannual reranking of the NASDAQ OMX CRD Global Sustainability Index. This listing ranked Goldcorp, world’s largest gold producer by market value, as one of the top 100 companies in the... 

Namibian mine lifts B2Gold’s Q1 output 20%

By: Natalie Greve Canada-based gold producer B2Gold has posted record gold production of 115 859 oz in the first quarter, exceeding its target for the first three months ended March 31 by 754 oz and delivering 20% more gold than in the first quarter of 2014. The company said on Friday that the increased production... 

Gold mine achieves first commercial production

Vancouver-based gold producer G2Gold’s Otjikoto gold mine, 300 km north of Windhoek, had its first month of commercial production in March this year. 

Founding Phoenix Gold director Price steps down

By: Esmarie Swanepoel Jon Price on Friday tendered his resignation as the MD of ASX-listed Phoenix Gold, shortly after the miner signed gold producer Evolution Mining onto its registry. Phoenix did not give a reason for Price’s departure. 

Seasonal weaknesses, mine scheduling swing Gold Fields to Q1 loss

By: Natalie Greve In line with its yearly guidance, Gold Fields on Thursday posted losses attributable to shareholders of $14-million for the quarter ended March 31, saying seasonal production weakness at its South African operations owing to the Christmas break and mine scheduling elsewhere had dampened overall... 

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... 

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