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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,... 

Northern Star shifts focus to profitability, mine-life projects

By: Esmarie Swanepoel Gold miner Northern Star Resources on Thursday said that the company’s focus would shift to extending the mine lives at each of its five operations, and to increase profitability, after it achieved its target of becoming the second largest ASX-listed gold producer, based on production. In the... 

Barrick Gold reports Q2 loss as Saudi impairment charge weighs

By: Henry Lazenby The world largest gold producer Barrick Gold on Wednesday reported a second-quarter loss of $269-million, or $0.23 a share, weighed down in the three months ended June 30 by an impairment charge of $514-million related to the long-delayed Jabal Sayid copper project, in the Kingdom of Saudi... 

Centerra sure of security of tenure as Kyrgyz negotiations drag on

By: Henry Lazenby Canadian gold producer Centerra Gold is confident that the right to own and operate its flagship Kumtor gold mine, in the Kyrgyz Republic, is secured by acts of law, as the company forges ahead in ironing-out issues in 18-month-long negotiations regarding the government’s ownership and... 

Alacer Gold’s Q2 adjusted profit nosedives on lower grades, sales

By: Henry Lazenby Turkey-focused gold producer Alacer Gold on Tuesday reported a 57% year-on-year drop in headline earnings for the three months ended June 30, as lower grades at its 80%-owned Çöpler mine resulted in lower sales. Excluding special items, Toronto-based Alacer reported adjusted net profit of... 

ABG reports net profit for H1 on back of increased production, reduced costs

By: Leandi Kolver London-listed gold producer African Barrick Gold (ABG) reported a net profit of $41-million for the six months ended June 30, driven by increased production and continued cost discipline. ABG CEO Brad Gordon pointed out that the company had now achieved its seventh successive reduction of... 

San Gold to add Kerr Mines to portfolio

By: Henry Lazenby Canadian gold producer San Gold this week signed a nonbinding letter of intent to buy TSX-listed Kerr Mines in an all-scrip deal that would see San Gold take control of the Copperstone gold mine, in Arizona. San Gold president and VP of finance Gestur Kristjansson on Monday said the merger... 

Aurico Gold reports rising output for eighth quarter

By: Henry Lazenby Canadian gold producer Aurico Gold has recorded its eighth consecutive quarter of production growth, underpinned by record production from the cornerstone Young-Davidson mine, in Ontario. For the three months ended June 30, the TSX- and NYSE-listed miner reported total gold output from... 

Barrick CEO Sokalsky to step down

By: Henry Lazenby The world’s largest gold producer Barrick Gold on Wednesday announced that its president and CEO Jamie Sokalsky would step down as part of an executive management shakeup. The TSX- and NYSE-listed miner’s board billed the shakeup necessary to position it to “meet the distinct demands and... 

St Andrew Goldfields reports strong Q2 output

By: Henry Lazenby Ontario-focused gold producer St Andrew Goldfields (SAS) this week reported strong results from its three mines in the world-famous Abitibi greenstone belt of Ontario, placing it well on its way to achieve full-year guidance of between 75 000 oz and 85 000 oz. SAS, which operates the Holt,... 

St Andrew Goldfields drilling returns ‘encouraging’ results at Holloway

By: Henry Lazenby Ontario-focused gold producer St Andrew Goldfields (SAS), which operates the Holt, Holloway and Hislop mines in the Timmins mining district of north-eastern Ontario, which lies within the world famous Abitibi greenstone belt, on Tuesday reported positive results from an ongoing drilling campaign... 

Kirkland Lake Gold closes C$7.5m flow-through financing

By: Henry Lazenby TSX- and Aim-listed Kirkland Lake Gold on Friday reported that it had raised C$7.5-million, which it would use to advance its surface exploration programme. The gold producer, which is focused on the Macassa gold mine, in Ontario’s historic Kirkland Lake gold camp, said it issued 1.92-million... 

Klondex strengthens Nevada operations team

By: Henry Lazenby Nevada-focused gold producer Klondex Mines on Thursday said it had appointed Mike Isaak Fire Creek mine manager, Henry Follman Fire Creek senior geologist and Rosa Whisenand financial manager. Whisenand would also assume the management responsibilities for information technology, purchasing and... 

‘Hot spot’ Ivory Coast may host next new Randgold mine

By: Martin Creamer Under-explored Ivory Coast, which has just introduced what is seen as the most investor-friendly mining code in Africa, may become the site of the sixth mine that the London- and Nasdaq-listed Randgold Resources will build on the continent. Randgold Resources CEO Dr Mark Bristow described the... 

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