Great Basin Gold announces new deal to raise C$50m

Dual-listed Great Basin Gold has terminated its bought deal announced last week, and replaced it a new deal, sweetening the offer price to C$0.75 a share. The junior mining company was aiming to raise C$50-million to carry its Burnstone gold...

Great Basin Gold’s share weakness puts BEE into default

The decline in the share price of junior gold miner Great Basin Gold has resulted in the bank loan to its black economic-empowerment (BEE) partner going into default. The share price of the JSE-listed gold miner fell a further 4.76% to R5.99 a...

Cooke steps up to Anooraq platinum plate

Patrick Cooke has been appointed a non-executive director of empowered JSE-listed platinum miner Anooraq, replacing Wayne Kirk, 69, who has also resigned his non-executive director post at gold-mining company Great Basin Gold.

Great Basin says Burnstone progressing well

Gold miner Great Basin Gold’s (GBG’s) development plan at the Burnstone mine, in Mpumalanga, was progressing well, despite production falling short of its targeted 14 000 oz of gold in the third quarter of 2011. The implementation of a long...

Great Basin executes $150m loan for Burnstone

Emerging miner Great Basin Gold has executed a $150-million loan which it will use to finance the additional development needed to deliver on its 2012 production build-up plan at the Burnstone mine, CEO Ferdi Dippenaar said on Wednesday. Great...

Great Basin on track to achieving higher mining rate at Burnstone

Gold miner Great Basin Gold (GBG) was on track to achieving its planned increased rate of mining at the Burnstone mine for the remainder of this year and for 2012, CEO Ferdi Dippenaar said on Thursday. He said the group gained a better...

Great Basin narrows second-quarter loss

Gold miner Great Basin Gold, which lowered its production targets for the Burnstone mine in South Africa, narrowed its second-quarter loss, it reported on Tuesday. Great Basin, which is headquartered in Vancouver, posted a loss of C$1.05-million...

South African mining companies embracing social upliftment

The development of the South African mining industry from the re-entry of the country into the international business sphere has been primarily focused on the role that it can play in boosting the economy, where, traditionally, it has been a...

Zimbabwe lashes out at diamond industry

Around 30 percent of Zimbabwe’s economy comes from minerals but the country’s Mining Minister says domination by one of the industry’s biggest players – and compliance issues – are preventing the African nation from fulfilling its...

Minister stresses importance of creating jobs

Echoing the national strategy of President Jacob Zuma, Mineral Resources Minister Susan Shabangu stressed the need for job creation when she addressed the opening of mid-tier gold miner Great Basin Gold’s landmark Burnstone project.

Great Basin Gold setting industry standards at new Mpumalanga gold mine

South African mid-tier gold producer Great Basin Gold reports that the company set new industry benchmarks during the ramping up of its Burnstone project.

Great Basin Gold to prioritise slashing the cost of mining this year

South African mid-tier gold miner Great Basin Gold reports that the main focus of 2011 will be to reduce the cost of mining to an acceptable level to establish a steady cash flow.