http://www.miningweekly.com

Global Mining News in real time

On back of strong Q3 output growth, Klondex lifts full-year outlook

By: Henry Lazenby Nevada-focused gold producer Klondex Mines on Monday reported a 73% quarter-on-quarter rise in precious metals produced during the three months ended September 30, as production benefitted from increased mill throughput and higher gold grades. The company, which this year transformed from a... 

Monument Mining obtains Malaysia federal stay order pending hearing

By: Henry Lazenby Malaysia-focused gold producer Monument Mining has obtained a stay from the Federal Court against the Court of Appeal's order forcing it to deposit $9.4-million into a joint account maintained by legal counsels of the respective parties to a lawsuit regarding a claimed interest in the Selinsing... 

Semafo makes move for West Africa-focused Orbis Gold

By: Esmarie Swanepoel TSX-listed gold producer Semafo on Monday announced its intention to launch a takeover offer for ASX-listed Orbis Gold, offering shareholders between 62c and 65c in cash, but the Australian miner responded that the bid was undervaluing the company. The Canadian miner said that its all-cash... 

Tanzania mining sees uptake in reinvestment

By: Mia Breytenbach Tanzania’s mining sector has suffered in recent years, owing to “an unpleasant cocktail” of escalating production costs, a subdued gold price, fiscal and regulatory uncertainty, and power shortages in the country’s north-west, says strategy and communications consultancy africapractice Tanzania... 

After niobium mine sale, Moody's downgrades Iamgold credit rating

By: Henry Lazenby Following Canadian gold producer Iamgold’s announcement on Friday that it had agreed to sell its Quebec niobium mine to a group of companies led by Magris Resources, the investment company founded by former Barrick Gold CEO Aaron Regent, for $500-million in cash, Moody’s Investors Service on... 

Former Barrick CEO-led group to buy Iamgold niobium mine for $500m

By: Henry Lazenby Canadian gold miner Iamgold on Friday announced that it had agreed to sell its important Niobec niobium mine, in Quebec, to a group of companies led by Magris Resources, the investment company founded by former Barrick Gold CEO Aaron Regent, for $500-million in cash. TSX- and NYSE-listed Iamgold... 

Barrick named exclusive metals provider for medals of Toronto 2015 games

By: Henry Lazenby The world’s biggest gold producer, Canada-based Barrick Gold on Monday announced that it had been named the Toronto 2015 Pan Am/Parapan Am Games’ official metal supplier. The NYSE- and TSX-listed company would supply all the raw materials used to make the more than 4 000 gold, silver and bronze... 

Goldplat reports FY loss amid lower gold price

By: Leandi Kolver Aim-listed gold producer Goldplat on Monday reported a £356 000 loss for the financial year ended June 30, compared with a £399 000 loss the year before, as the lower gold price cut revenues. Chairperson Brian Moritz pointed out that the financial year under review had seen a “substantial... 

Village gets shareholder nod for Cons Murch sale, share consolidation

By: Natalie Greve Shareholders of gold producer Village Main Reef have voted in favour of Village’s proposed sale of its interest in the Consolidated Murchison (Cons Murch) antimony mine, in Limpopo, to Australian group Stibium Mining. This followed a May announcement in which Village notified the market that it... 

Newmont to restart Indonesia ops in 6 to 8 weeks after new permit

By: Henry Lazenby Senior gold producer Newmont on Tuesday morning reported that it expected to restart its shuttered Batu Hijau copper mine, in Indonesia, within six to eight weeks of receiving a permit. Speaking at the Denver Gold Forum, CEO Gary Goldberg said after striking an agreement with the Indonesian... 

Several platinum opportunities already abandoned - Sibanye Gold

By: Martin Creamer A number of platinum opportunities had been pursued and several abandoned as they did not meet the required investment criteria, Sibanye Gold CEO Neal Froneman said on Tuesday. Froneman told the Denver Gold Show in the US that entry into the platinum industry did not qualify as a strategic... 

ABG to rebrand in November following operational sea change

By: Henry Lazenby Tanzania-focused gold producer African Barrick Gold (ABG) will rebrand in November, saying its restructuring efforts over the past year under new CEO Brad Gordon had given it renewed confidence in its assets to break the association with parent Barrick Gold Corp. Having battled to turn a profit... 

Yamana heads back to drawing board as C1 Santa Luz is shuttered

By: Henry Lazenby Yamana Gold on Wednesday said it would return to the drawing board and evaluate other gold extraction methods after the carbon-in-leach (CIL) circuit at C1 Santa Luz, in eastern Brazil, failed to achieve its designed recoveries owing to several factors. The TSX- and NYSE-listed gold producer... 

Company’s gold extraction capabilities showcased

Global manufacturer and equipment supplier FLSmidth’s capabilities in the gold extraction arena will be showcased with the supply of equipment to Vancouver-based gold producer B2Gold’s Otjikoto gold project in Namibia. FLSmidth is the only company in Africa capable of providing a complete... 

Goldcorp expects to hit lower range of 2014 output guidance

By: Henry Lazenby Canadian gold producer Goldcorp on Thursday reported that production stoppages at two of its operations this year would push its expected output down into the lower range of its full-year guidance. Goldcorp on Tuesday suspended mining operations at its El Sauzal mine, in Chihuahua, Mexico, for... 

Goldcorp suspends operations at El Sauzal mine, Mexico

By: Henry Lazenby Global gold producer Goldcorp on Tuesday suspended mining operations at its El Sauzal mine, in Chihuahua, Mexico, for safety reasons after the operation experienced movement in the highwall slope of the Trini pit. As a safety precaution, mining operations were suspended until a geotechnical... 

Q4 recovery unable to salvage DRDGold’s Ergo-dented FY showing

By: Natalie Greve Despite a welcome but somewhat unforeseen production recovery by DRDGold in the fourth quarter of its 2014 financial year, the tailings retreatment specialist was unable to fully recover from the effect of the April shutdown of its Ergo processing plant, which depressed output for the year ended... 

Shanta posts first operating profit

By: Leandi Kolver East Africa-focused gold producer Shanta Gold on Monday announced its first operating profit of $11.1-million for the six months ended June 30. The company, which started commercial production in 2013 increased its gold production 10% year-on-year to 42 194 oz for the six months. 

Stratex deal to buoy cash-strapped GoldStone’s exploration plans

By: Natalie Greve Africa-focused gold producer GoldStone Resources says a recent funding deal with Aim-listed Stratex International will provide the capital-hungry explorer with sufficient cash resources to conduct meaningful exploration at its Ghana-based Homase/Akrokerri project,while allowing the company to... 

Goldplat H2 performance purges H1 losses

By: Natasha Odendaal An operating profit in the second half of the 2014 financial year has eliminated Aim-listed Goldplat’s first-half operating loss, the gold producer said on Wednesday. The group, which would release its full-year results on September 22, on Wednesday, said its South African gold recovery plant... 

Veris Gold agrees to treat Australian miner’s ore

By: Henry Lazenby Canadian gold producer Veris Gold on Friday said it had agreed to process refractory ore from ASX-listed Anova Metals’ Big Springs project at its Jerritt Canyon mill complex, in Elko County, Nevada. Under the terms of the agreement, Anova would deliver about 1 000 short tons a day of... 

Rambler Metals tops full-year output guidance

By: Henry Lazenby Junior copper and gold producer Rambler Metals & Mining on Thursday said it had exceeded its 2014 full-year output guidance by significant margins. The TSX-V- and Aim-listed miner, which currently operated the Ming copper/gold mine, in Newfoundland and Labrador, pointed out that it had met or... 

Russia gaining ground in gold race - GRRG

By: Esmarie Swanepoel The Gold Royalty Response Group (GRRG) has warned that Russia could replace Australia as the world’s second largest gold producer if it met production forecast by Russian lobby group Gold Industrialists’ Union. The Russian lobby group predicted that the country could increase its output to some... 

Beleaguered Veris Gold reports Q2 loss despite higher sales, revenue

By: Henry Lazenby Canadian gold producer Veris Gold, which is currently operating under protection of the Companies' Creditors Arrangement Act (CCAA), late on Friday reported a net loss was $8.1-million, or $0.05 a share, in the three months ended June, despite reporting increased sales and revenue. The... 

Centamin declares maiden interim dividend, reports lower Q2 earnings

By: Leandi Kolver Egypt-focused gold producer Centamin on Thursday announced that a maiden interim dividend of $0.87 a share would be paid for the six months ended June 30, following the completion of the construction and commissioning of Stage 4 of its Sukari mine plant expansion. Sukari, which increased its... 

Blanket mine retains low-cost producer title in Q2, battles low grades

By: Natalie Greve Reinforcing its position as a low-cost gold producer, on-mine costs for Caledonia Mining’s Blanket mine, in Zimbabwe, fell from $651/oz in first quarter to $624/oz in the second quarter ended June 30, while all-in sustaining costs fell from $924/oz to $881/oz over the same period.  The miner said... 

AngloGold Ashanti output up 17%, earthquake-hit mines restarting

By: Martin Creamer South African gold major AngloGold Ashanti on Monday reported a 17% increase in production for the second quarter compared with the same period a year earlier, with its two new mines continuing to contribute lower-cost ounces, and a strong safety performance helping its South Africa operations... 

Sibanye donates R25m to Wits and UJ, to spend R325m on education and training this year

By: Chantelle Kotze South African gold producer Sibanye Gold donated R25-million to the universities of Johannesburg (UJ) and Witwatersrand (Wits) towards mining and engineering education at an official handover ceremony held last month at its training academy in Westonaria. 

Iamgold to generate 15% of own electricity in 5 yrs – CEO Letwin

By: Creamer Media Reporter Toronto-based gold producer Iamgold president and CEO Steve Letwin is championing the use of renewable energy as an opportunity for gold mines to reduce costs – a proposition that the company is testing through its Rosebel gold mine, in Suriname. Although saving money is an imperative for all... 

Goldcorp positioned for 'prolonged' period of production growth

By: Henry Lazenby Canadian gold producer Goldcorp on Thursday said it was positioned for a “prolonged” period of production growth as three significant construction projects would be completed by 2015. Three new gold projects under construction underpinned Goldcorp's growth profile and continued to advance steadily. 

Newmont OKs $1bn Suriname mine development, lifts Q2 profit

By: Henry Lazenby Denver, Colorado-based gold producer Newmont this week announced that it would proceed with developing the $1-billion Merian gold mine, in Suriname, the first new big gold-mining project announces by a major miner since a wave of project cancellations, deferrals and sell-offs hit the industry,... 

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/€ = 13.48Change: 0.08
R/$ = 11.46Change: 0.05
Au 1228.13 $/ozChange: -10.36
Pt 1231.50 $/ozChange: -11.50