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Demand for logging tool soars since October launch

By: Mia Breytenbach 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

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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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

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 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 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 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 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 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 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

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

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 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 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 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 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 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 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... 

New mines minister urges improved safety over final quarter

By: Natasha Odendaal Mineral Resources Minister Mosebenzi Zwane on Wednesday urged mining companies to tighten up health and safety initiatives after a fatality at a Randfontein mine this week. The Department of Mineral Resources said in a statement that a winch operator had been fatally injured in an accident at... 

Thompson Creek widens Q3 loss, softer copper outlook weighs on stock

By: Henry Lazenby Copper and gold producer Thompson Creek Metals has reported a wider net loss for the three months ended September, which was mainly impacted by unrealised noncash foreign exchange losses on intercompany notes. For the three months ended September 30, the miner reported a net loss of... 

Endeavour shareholders back La Mancha deal

By: Esmarie Swanepoel The shareholders of ASX- and TSX-listed Endeavour Mining have approved a partnership with gold investment company La Mancha Holding and Naguib Sawiris. Endeavour in September entered into a strategic partnership with La Mancha which would see the gold miner acquire La Mancha’s indirect 55%... 

SA engineering company tackles multimillion dollar Zimbabwe project

A team of technicians, artisans and engineers from heavy engineering services provider Baldmin Projects is currently on site at gold producer Metallon Gold Mines’ Mazowe mine, in Zimbabwe erecting structures, for the installation and commissioning of the mine’s flotation and leach plant scheduled... 

AMCU triumphant in Labour Court; AngloGold Ashanti forced to reinstate workers

By: Ilan Solomons Association of Mineworkers and Construction Union (AMCU) president Joseph Mathunjwa on Thursday called on gold producer AngloGold Ashanti 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... 

Iamgold widens Q3 loss on lower sales

By: Henry Lazenby Canadian gold producer Iamgold widened its net loss from continuing operations attributable to equity holders to $85-million, or $0.22 a share, in the third quarter, as lower sales volumes and prices resulted in lower revenues. Excluding special items, the adjusted net loss, including... 

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