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BMI lowers DRC gold production outlook

By: Megan van Wyngaardt     26th May 2017 Lower-than-expected output from the Democratic Republic of Congo’s (DRC's) gold industry during 2016, paired with a weak project pipeline in the coming years, has resulted in research firm BMI revising its gold production forecast for the country up to 2021, downwards. The research firm put the... 

Up to 6% of Barrick’s 2017 output impacted by Tanzania ore export ban

By: Henry Lazenby     26th May 2017 The world’s largest gold producer by volume, Canada’s Barrick Gold, on Thursday revealed that up to 6% of its attributable output could be affected by the ongoing ban on mineral concentrate exports affecting the operations of its 63.9% subsidiary Acacia Mining, in Tanzania. Acacia’s Bulyanhulu... 

Drilling at Cote d’Ivoire gold project showing promising results

By: David Oliveira     26th May 2017 West Africa-focused gold producer Perseus Mining announced earlier this month the completion of a drilling programme at its Yaouré gold project, in Côte d’Ivoire, with the company having received assay results for about 29 300 samples from the programme, which confirm the tenor of mineralisation... 

Training academy deriving ‘incredible’ value from simulators

     26th May 2017 Simulation has resulted in a definite, dramatic reduction in training cycle times, says Bedfordview-headquartered mining contractor Murray & Roberts’ Murray and Roberts Training Academy (MRTA) education and training development (ETD) executive Tony Pretorius. With five, high-fidelity Cybermine... 

Drilling programme shows promising results for Yaouré gold project

By: David Oliveira     18th May 2017 West Africa-focused gold producer Perseus Mining on Thursday announced the completion of a drilling programme at its Yaouré gold project, in Côte d’Ivoire, with the company having received assay results for about 29 300 samples from the programme, which confirm the tenor of mineralisation in... 

Mining Maverick lured out of hiatus by billion-dollar gold dream

By: Bloomberg     18th May 2017 Frank Giustra likes to see big where others think small. The Canadian mining magnate’s latest target is a subterranean patch of red earth in southwestern Mexico. In January his new undertaking, Leagold Mining, bought the Los Filos mine from Goldcorp for $350-million. It wasn’t the openpits... 

Teal generates first income for Intermin

By: Esmarie Swanepoel     17th May 2017 Junior gold producer Intermin Resources has generated its first revenue from the Teal gold mine, in Western Australia. The company on Wednesday reported first haulage, sampling and processing of ore from the Teal mine, comprising some 9 700 t at an average grade of 2.7 g/t gold, generating an... 

Banro narrows Q1 net loss as revenue rises 19%

By: Henry Lazenby     16th May 2017 Canadian gold producer Banro has reported a smaller first-quarter net loss as financing expenses and fair value losses have offset higher output, sales and realised prices. The result was despite a 19% increase in operating revenues to $55-million, and was boosted by 14% more ounces sold at 47... 

Avesoro eyes gold assets in Burkina Faso

By: Megan van Wyngaardt     15th May 2017 A range of growth opportunities, including the potential acquisition of the Youga gold mine and Balogo deposit, in Burkina Faso, is being considered by dual-listed miner Avesoro Resources to further its strategy in becoming a premier midtier African gold producer. The two assets in Burkina Faso... 

Avesoro posts positive earnings in March quarter

By: Megan van Wyngaardt     11th May 2017 Dual-listed West African gold producer Avesoro Resources produced 14 906 oz during the quarter ended March 31. The company, formerly Aureus Mining, achieved an operating cash cost of $1 051/oz at its New Liberty mine, in Liberia – a 46% quarter-on-quarter decrease. 

Modular plant assists remote mine in accelerating gold production

By: Ilan Solomons     5th May 2017 The first two gold pours were successfully completed in February by Canada-based emerging gold producer TMAC Resources, at its Doris mine and mill complex at the Hope Bay gold project, which is located in the Arctic Circle of Nunavut, in Canada. Mineral processing equipment manufacturer Gekko... 

Tongon permit review confirms opportunities to extend mine life

By: David Oliveira     5th May 2017 A review of Africa-focused gold producer Randgold Resources’ Nielle permit, which hosts the company’s Tongon mine, in Côte d’Ivoire, has confirmed a number of opportunities to extend the life of the operation beyond the current four-year projection, company CEO Mark Bristow said during a site... 

Ramelius gets Chinese partner

By: Esmarie Swanepoel     28th April 2017 Gold miner Ramelius Resources has signed an alliance agreement with Chinese gold producer Zhaojin Mining Industry Company to hunt for projects and share expertise. “We are excited to enter into a strategic alliance with Zhaojin, who are a globally significant gold company with a strong track... 

Durban-based plant delivered to Guyana mine

     28th April 2017 A $2.5-million project, facilitating, executing and unloading a shipment of assets for an 800 t/d modularised gold plant relocated from Durban, in South Africa, to Buck Hall, in Guyana, was concluded toward the end of last year by Canadian engineering, procurement and construction firm JDS Energy... 

Russian mining tycoons eyeing return to London's stock market

By: Bloomberg     26th April 2017 For three years, Russian companies retreated from the London stock market. Now, a pair of oil and mining-billionaires is hoping to break the drought. En+ Group, owned by aluminium magnate Oleg Deripaska, and Polyus PJSC, a gold producer controlled by the family of Suleiman Kerimov, are planning... 

Randgold replaces 2016 Loulo-Gounkoto complex gold output, updates Morila reclamation plan

By: Henry Lazenby     26th April 2017 Africa-focused gold producer Randgold Resources said Tuesday it had replaced 100% of the 707 116 oz gold it produced in 2016 at the Mali-based Loulo-Gounkoto complex through ongoing exploration, placing the operation on track to meet 2017 production guidance of 690 000 oz gold, despite some... 

Tongon permit review confirms opportunities to extend mine life

By: David Oliveira     24th April 2017 A review of Africa-focused gold producer Randgold Resources’ Nielle permit, which hosts the company’s Tongon mine, in Côte d’Ivoire, has confirmed a number of opportunities to extend the life of the operation beyond the current four-year projection, company CEO Mark Bristow said during a site... 

Mexican Mines Recording Major Gains in Equipment Reliability and Reduced Fuel Usage

     19th April 2017 At an accelerating rate, Mexican mines are taking advantage of advanced simulation technology along with skilled people and proven process, from Immersive Technologies, to optimize their equipment operator workforce. Mine sites are measuring significant improvements in key metrics as many new... 

Richmont reports strong Q1 output as costs slide

By: Henry Lazenby     14th April 2017 Boutique gold producer Richmont Mines has reported strong performance from the flagship Island Gold mine, in Ontario, pushing total output in the period to 29 401 oz of gold, which despite being 9% lower year-on-year, took into account the ceased production at the small-scale Monique mine, and... 

Liberian gold miner driving near-mine satellite exploration

     14th April 2017 TSX- and Aim-listed West African gold producer Avesoro Resources points to a strong outlook for 2017, with its main aim for the year being the discovery of additional mineable satellite resources within close proximity to its New Liberty gold mine, in Liberia. With numerous high potential targets... 

Centerra reports Kumtor mechanic killed

By: Henry Lazenby     12th April 2017 Canadian gold producer Centerra Gold has reported a fatality at the flagship Kumtor mine, located in Central Asian country Kyrgyzstan. The TSX-listed miner said a vehicle mechanic died in the field on Monday after he was fatally injured while inspecting a light vehicle pickup truck. 

Leagold closes $350m acquisition of Los Filos mine, Mexico

By: Henry Lazenby     8th April 2017 Canadian project developer Leagold Mining has completed the acquisition of the Los Filos gold mine, in Mexico, for $350-million from compatriot major miner Goldcorp. "Today marks a strong beginning for Leagold with the Los Filos mine becoming our platform for growth. We have transformed into a... 

OreCorp to raise A$20.6m to fast-track Tanzania project

By: Esmarie Swanepoel     29th March 2017 ASX-listed OreCorp will raise A$20.6-million through a share placement to institutional and sophisticated investors to fast-track the development of its Nyanzaga gold project, in Tanzania. The company will place 43-million ordinary shares at an issue price of 48c each to investors in North... 

Agnico sells $220m in stock to single US institutional investor

By: Henry Lazenby     28th March 2017 Dual-listed Canadian gold producer Agnico Eagle Mines has agreed to issue and sell five-million of its common shares directly to an institutional investor in the US at a price of $43.97 apiece, or about $220-million in total. Toronto-based Agnico said it will use the net proceeds of the offering... 

Miners regain mojo to spark $18bn in exploration hunt

By: Bloomberg     24th March 2017 A rebound in exploration by global miners could see spending hit $18-billion by 2025 with China the front runner in the search for a new generation of giant discoveries. Exploration budgets are rising after they plunged to an 11-year low of about $10-billion last year as mining companies slashed... 

Facility set to boost skills, grow industry after slump

By: Victor Moolman     10th March 2017 Valve manufacturer AVK Southern Africa’s new R200-million training academy, in Alrode, Gauteng, will train 1 500 people by the end of the year. 

On track for low-cost production profile

By: Robyn Wilkinson     10th March 2017 West African gold producer, developer and explorer Avesoro Resources expects its New Liberty gold mine, in Liberia, to be cash-flow positive during 2017, moving it closer to realising a low-cost production profile. 

South Africa’s gold sector must improve its position

By: Robyn Wilkinson     10th March 2017 Stakeholders in South Africa’s gold mining industry need to collaborate so that the country can regain its standing as a major gold producer and realise the significant value that the sector can potentially contribute to the local economy, says gold industry market development organisation World... 

High noon approaches for Centerra, Kyrgyz disputes as cash reserves dwindle

By: Henry Lazenby     25th February 2017 A resolution to the drawn-out dispute between Canadian gold producer Centerra Gold, the Republic of Kyrgyzstan and State miner Kyrgyzaltyn could potentially be reached by mid-year, the multinational miner said in its year-end results statement issued late on Thursday. Centerra, which in January... 

South African gold production remained flat in 2016 – WGC

By: David Oliveira     24th February 2017 Despite generous mineral reserves and high-grade orebodies, South Africa’s gold mining industry continues to see the sparkle it once held as the best gold producer in the world, dimming, having seen steadily declining production figures in recent years, positioning it in sixth place in 2015,... 

Richmont Q4 earnings back in the black, strong outlook underpins Island Gold ops

By: Henry Lazenby     22nd February 2017 Small-scale gold producer Richmont Mines has reported fourth-quarter earnings coming in below bullish analyst expectations, though it did swing back to a profit for the three-month and full-year period ended December. The Toronto-headquartered company reported earnings of C$1.1-million, or C$0.02... 

Metallon reports 40% y/y Ebitda improvement

By: Anine Kilian     20th February 2017 Zimbabwe-focused gold producer Metallon Corporation grew its earnings before interest, taxes, depreciation and amortisation (Ebitda) by 40% to $18.6-million in 2016, from $13.3-million in 2015.  “2016 was a year of positive progress for Metallon. The business delivered an outstanding Ebitda . . .... 

Barrick lifts dividend as earnings beat forecast

By: Henry Lazenby     16th February 2017 VCanada’s Barrick Gold, the world’s largest gold producer by volume, announced on Wednesday that it has made significant progress on initiatives to repair its debt-laden balance sheet, declaring a higher dividend to shareholders and renewing its focus on exploration spending. The Toronto-based... 

Guyana Goldfields rises on updated Aurora feasibility study

By: Henry Lazenby     3rd February 2017 Guyana-focused gold producer Guyana Goldfields has published the positive results of an updated feasibility study on its cornerstone Aurora mine. The study outlined the expansion of the current processing facility from 5 600 t/d to 8 000 t/d and pushed reserves 15% higher, net of depletion of 15... 

Richmont stocks rally on 34% Island Gold reserve rise

By: Henry Lazenby     1st February 2017 The TSX- and NYSE MKT-listed stock of gold producer Richmont Mines rallied on Tuesday after the company announced a positive reserve and resource update for the flagship Island Gold mine, in Ontario, lifting reserve tonnes by 21% to 2.6-million tonnes and contained ounces by 34% to 752 000 oz.... 

Randgold confident Loulo-Gounkoto exceeded 2016 production guidance

By: Anine Kilian     30th January 2017 Africa-focused gold producer Randgold Resources expects to report record fourth-quarter production at its Loulo-Gounkoto gold mining complex, in Mali. CEO Mark Bristow reiterated in a briefing to Malian media on Sunday that the company was likely to report that it had exceeded its production... 

Iamgold clears major assessment hurdles at Côté, Northern Ontario

By: Henry Lazenby     28th January 2017 Mid-tier gold producer Iamgold has completed a preliminary economic assessment (PEA) on its Côté gold project in Northern Ontario, outlining positive metrics that support development following the completion of a prefeasibility study. The company also announced Thursday that it had received... 

Further precedent set for inspectorate’s powers

By: Nadine James     27th January 2017 The Labour Court’s decision to set aside a Section 54 mine stoppage order that unjustifiably stopped operations at leading gold producer AngloGold Ashanti’s Kopanang mine, in the Free State, is pleasing, as it provides further legal precedent for the manner in which inspectors from the Department... 

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