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Poseidon, Aphrodite enter MOU to assess gold processing at Black Swan

By: Ilan Solomons     10th July 2017 ASX-listed companies Poseidon Nickel and Aphrodite Gold announced on Monday that they had entered into a memorandum of understanding (MOU) to evaluate the processing of Aphrodite’s gold mineral resources at Poseidon’s Black Swan processing facility (BSPF), in Western Australia’s Eastern... 

Semafo’s Q2 output slumps as it grapples with grade control at Mana

By: Henry Lazenby     6th July 2017 West Africa-focused gold producer Semafo reported lower gold output for the second quarter ended June, as grade control issues at the Siou satellite deposit of the company's flagship Mana mine, in Burkina Faso, impacted on output. Montreal, Quebec-based Semafo produced 47 600 oz of gold for the... 

Metanor raises $5.93m for exploration

By: Megan van Wyngaardt     3rd July 2017 TSX-V-listed emerging gold producer Metanor Resources has closed a private placement, raising $5.93-million. A total of 5.25-million flow-through shares have been issued at a price of $1.13 apiece. 

Randgold to make Massawa development decision by mid-2018

By: Henry Lazenby     29th June 2017 LSE- and Nasdaq-listed Randgold Resources on Wednesday said it should be able to make a development decision on the Massawa project, in Senegal, by mid-2018. The London-based miner plans to complete a feasibility study on the multimillion-ounce orebody by the middle of next year. 

OceanaGold narrows 2017 guidance as Haile teething problems dent project progress

By: Henry Lazenby     27th June 2017 Melbourne, Australia-based gold producer OceanaGold on Monday said it has narrowed the top-end of its 2017 gold production guidance as teething problems at its new Haile gold mine, in South Carolina, stymies progress. The TSX- and ASX-listed midtier miner, with assets located in the Philippines,... 

Method leads to increased productivity

By: Marleny Arnoldi     23rd June 2017 Mining industry drilling services provider Rosond has adopted an approach to drilling equipment maintenance which entails identifying trends to assist it in applying engineering fixes, altering maintenance periods and educating operational staff accordingly. “We follow a productive approach, with... 

RNC declares commercial production at Beta Hunt mine in Australia

By: Henry Lazenby     21st June 2017 TSX-listed copper and gold producer RNC Minerals has declared commercial production at the Beta Hunt mine, in Western Australia. The Toronto-headquartered company announced on Tuesday that Beta Hunt has met the commercial criteria of producing at least 3 500 oz of gold over a one-month period,... 

GOLD RUSH

By: Martin Creamer     16th June 2017 Less than two years after delisting from the London Stock Exchange, Russian gold producer Polyus has returned. Listed in Moscow with a market capitalisation of $9.9-billion, Polyus is prepared to sell 7% of its equity, which follows China’s Fosun Group agreed to acquire 15% of the company. CEO... 

S&P's places Polyus ratings on CreditWatch positive

By: Megan van Wyngaardt     9th June 2017 Ratings agency S&P Global Ratings Services has placed its 'BB-' issuer credit ratings on Russian gold miner PJSC Polyus and its controlling shareholder, Polyus Gold, on CreditWatch with positive implications. S&P’s highlighted the company’s strong profitability, positive free operating cash flow... 

Sibanye gets positive boost from ratings agencies

By: Megan van Wyngaardt     7th June 2017 JSE-listed platinum and gold miner Sibanye on Wednesday received a Ba2 rating from Moody’s Investors Service with a stable outlook and a B+ rating with a positive outlook from Standard & Poor’s (S&P’s) Global Ratings. In assigning the Ba2 corporate family rating to Sibanye, Moody’s noted that it... 

Iamgold rises on 30% Côté stake sale, positive PFS results

By: Henry Lazenby     6th June 2017 The TSX-listed stock of Canadian gold producer Iamgold gained nearly 12% on Tuesday following news late on Monday that it has agreed to sell a 30% stake in its Côté gold project, in Ontario, and the publication of a positive prefeasibility study (PFS) for the mine. Tokyo-based Sumitomo Metal... 

Polyus launches secondary share offer in London, Moscow

By: Reuters     5th June 2017 Russia's top gold producer Polyus will offer new and existing shares in a secondary share offering in both London and Moscow, it said on Monday, in a deal that will test investor appetite for Russian assets. 

Leagold focused on delivering catalysts as it looks to expand Los Filos platform

By: Henry Lazenby     3rd June 2017 The focus has turned to delivering on the impending catalysts for newly minted midtier gold producer Leagold Mining, as it assimilates the freshly acquired Mexico-based Los Filos mine and works to enhance and expand the flagship operation. “Los Filos is an ideal cornerstone mine with which to... 

Positive PEA a first step for Richmont in multi-phased Island mine expansion

By: Henry Lazenby     30th May 2017 Boutique gold producer Richmont Mines has published a positive preliminary economic assessment (PEA) examining an expansion case for the flagship Island gold mine, in Ontario, that will push output 22% higher at low cash cost and generate a robust cash flow stream. The Toronto-based miner said on... 

AuRico Metals publishes positive PEA for Kemess East gold/copper project

By: Henry Lazenby     30th May 2017 Canadian gold producer AuRico Metals has published a positive preliminary economic assessment (PEA) for the Kemess East gold/copper project, even when considered as a stand-alone project, not part of the Kemess underground project, the company announced Monday. The Kemess East PEA evaluated a... 

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... 

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 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... 

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. 

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... 

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... 

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... 

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