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Ecuador attracting mining interest, political risks weigh on Latin America outlook

By: Mariaan Webb     12th July 2018 The South American country of Ecuador is attracting interest among foreign mining companies, as a low-risk, high-reward market, where government remains supportive of mining, despite the February referendum restricting mining in protected areas. Market intelligence firm BMI, which publishes a... 

Newcrest strikes earn-in deal with Prodigy

By: Esmarie Swanepoel     4th July 2018 Gold miner Newcrest Mining has signed a farm-in agreement with ASX-listed junior Prodigy Gold over its Euro project, in the Northern Territory. Under the terms of the agreement, Newcrest could earn an initial 51% interest in the project by spending A$6-million on exploration over a period of... 

Kore Potash appoints new CEO

By: Anine Kilian     30th May 2018 Stuart Bradley (Brad) Sampson, once employed by Gold Fields in South Africa and Australia, has been appointed CEO of potash development company Kore Potash, taking over from outgoing CEO Sean Bennett, effective from June 4. Sampson was most recently CEO of ASX-listed Tiger Resources and held... 

Newcrest signs up for Northern Territory exploration

By: Esmarie Swanepoel     8th May 2018 Gold miner Newcrest Mining has signed a non-binding heads of agreement (HoA) with fellow-listed ABM Resources over its Euro project, in the Northern Territory. The two companies will now negotiate a binding farm-in and joint venture agreement, under which Newcrest could earn a 75% interest in... 

Newcrest starts dumping at Cadia openpit

By: Esmarie Swanepoel     7th May 2018 Gold miner Newcrest Mining has started depositing tailings into the Cadia Hill openpit mine, in New South Wales, following the construction and commissioning of pipeline infrastructure. Newcrest was in April granted approval to use the first 20 m of the old Cadia Hill openpit operation as a... 

Newcrest and Encounter sign JV pact

By: Esmarie Swanepoel     3rd May 2018 Gold miner Newcrest Mining and fellow-listed Encounter Resources have entered into five separate joint venture (JV) agreements in the Tanami and West Arunta regions of Western Australia, covering some 4 400 km2. The five JVs, which include Selby, Watts, Lewis, Phillipson and Aileron, will... 

Newcrest cuts FY forecast on Cadia tailings incident

By: Esmarie Swanepoel     26th April 2018 Gold miner Newcrest Mining has lowered its full-year production guidance on the back of the tailings breakthrough at its Cadia operations, in New South Wales. Gold production for the 2018 financial year, which ends in June, has been revised from between 2.4-million and 2.7-million ounces, to... 

Newcrest gets approvals for tailings plan

By: Esmarie Swanepoel     23rd April 2018 Gold miner Newcrest Mining has been given approval to use the first 200m of the old Cadia Hill openpit operation, in New South Wales, as a tailings storage facility. The Cadia Hill openpit would be used in lieu of the Northern tailings facility, where a breakthrough of tailings material was... 

BlackRock's $1.3bn gold fund feels pain of bullion miners

By: Bloomberg     4th April 2018 This year has not been kind to precious-metal stock pickers at the world’s biggest asset manager, but their luck may be about to turn. The $1.3-billion BlackRock Gold and General Fund lost 15% last quarter, its worst performance since the third quarter of 2015. Among large materials-focused... 

Newcrest restarts mining at Cadia, processing remains suspended

By: Esmarie Swanepoel     27th March 2018 Gold miner Newcrest Mining has restarted mining at the Cadia East operation, in New South Wales, following a limited breakthrough of tailings material earlier this month. Newcrest progressively suspended all mining operations at the Cadia mine on March 10, to allow site management to focus on... 

Encounter offers two new projects to Newcrest

By: Esmarie Swanepoel     21st March 2018 Junior Encounter Resources has generated and secured two new project opportunities that were being assessed by gold miner Newcrest Mining under an existing project generation alliance. Newcrest and Encounter in December of last year agreed to the project generation alliance, which would see the... 

Updated study lowers Wafi-Golpu project cost by A$1bn

By: Esmarie Swanepoel     19th March 2018 A feasibility study into the Wafi-Golpu gold project, in Papua New Guinea, has decreased the expected total project costs by nearly A$1-billion, project partners Newcrest Mining and Harmony Gold reported on Monday. While the preproduction capital costs increased from the A$2.6-billion estimated... 

Newcrests halts mining at Cadia, warns of 'adverse impact' on results

By: Esmarie Swanepoel     12th March 2018 Gold miner Newcrest Mining has suspended mining and processing operations at its Cadia operations, in New South Wales, following a breakthrough of tailings material at the operation. The miner on Monday reported that the breakthrough at the northern tailings dam embankment was contained within... 

Australia's gold production may rise to record - report

By: Reuters     7th March 2018 Gold output from Australia, the world’s second-largest producer, may rise to a record as a stream of new projects comes on line, Australian mining consultancy Surbiton Associates said on Sunday. Australian gold miners, among the lowest cost globally, have enjoyed high margins in recent years,... 

Lundin Gold eyes growth after mine in Ecuador built

By: Reuters     5th March 2018 Lundin Gold has a hearty appetite for growth even as the Canadian miner focuses on building its first mine in Ecuador on time and budget, CEO Ron Hochstein said on Sunday. “We want to grow to be an at least one-million-ounce-a-year producer with three to four operations,” Hochstein said in an... 

Billionaire Lundin chases base-metal buy of up to $3bn

By: Bloomberg     1st March 2018 Sweden’s billionaire Lundin family is looking to spend as much as $3-billion on a new industrial-metal asset as prices rally, before turning its attention to scouring for a new gold project. Lundin Mining is on the prowl for a long-life zinc, nickel or copper asset and would shell out $1-billion... 

Newcrest eyes Ecuador gold project with $250m stake in Lundin

By: Mariaan Webb     26th February 2018 Australia’s largest gold miner Newcrest Mining is buying a 27.1% interest for $250-million in Canada-listed Lundin Gold, which is building the Fruta del Norte gold mine, in Ecuador. The investment, announced on Monday, is part of a $400-million equity private placement by Lundin for the... 

Cyclone Kelvin lashes West Australia, no damage reported to mines, gas projects

By: Reuters     19th February 2018 Tropical Cyclone Kelvin hit the resource-rich north coast of Western Australia on Sunday, lashing it with strong winds and causing floods that could cut the main highway for up to two weeks. The storm crossed the coast 165 km south-southwest of Broome early on Sunday morning with destructive... 

Newcrest expects output to grow as shakes off disruptions

By: Bloomberg     16th February 2018 Australia's top gold miner, Newcrest Mining, expects output to grow in the coming months as its flagship site gradually ramps up after operations there were hit by an earthquake last year, its chief executive said on Friday. That comes a day after the company reported a 58% slide in underlying... 

Newcrest Mining’s half-year profit takes a knock

By: Mariaan Webb     15th February 2018 Seismic activity at the Cadia mine in New South Wales and higher costs as result of a stronger Australian currency have contributed to the large decrease in interim underlying profit that gold miner Newcrest Mining reported on Thursday. For the six months ended December 31, the Australian... 

BHP, Goldman hunt for energy fix amid remote banana plantations

By: Bloomberg     27th November 2017 The world’s biggest miner and Wall Street’s top-ranked merger firm are among the high-profile backers of a remote solar project nestled among banana crops in Australia’s far tropical northeast. For BHP Billiton, it’s a chance to unlock renewable technology for the global mining sector. As... 

Newcrest hunting for investments, including acquisitions

By: Esmarie Swanepoel     14th November 2017 Gold miner Newcrest Mining MD Sandeep Biswas said on Tuesday that the company was hunting for new investment opportunities, but stressed that it would remain “very disciplined” in its evaluation and execution of any new opportunities. In a copy of a speech delivered at the company’s annual... 

Lower production at Lihir and Gosowong brings Newcrest down

By: Esmarie Swanepoel     26th October 2017 Gold miner Newcrest Mining has reported a 5% drop in production during the September quarter, despite production at the Cadia operation, in New South Wales, resuming. Newcrest said on Thursday that gold production during the September quarter was lower than the June quarter, as a result of... 

Newcrest announces A$93m Telfer investment as royalty hike is dropped

By: Esmarie Swanepoel     18th October 2017 Australian gold miner Newcrest Mining has approved a A$93-million capital investment into its Telfer mine, in Western Australia, which will extend the openpit mine life by four years, until 2023. The company on Wednesday said that the capital would be spent on expanding the West Dome openpit,... 

Newcrest divests of New Zealand exploration asset

By: Esmarie Swanepoel     22nd September 2017 ASX-listed gold miner Newcrest Mining has abandoned its 80% stake in the Rahu project, in New Zealand, to joint venture partner New Talisman Gold Mines. New Talisman on Friday announced that it had acquired Newcrest New Zealand Exploration, with the junior company evaluating its options to... 

Newcrest targets full restart of Cadia East by March

By: Esmarie Swanepoel     13th September 2017 Gold miner Newcrest Mining has restarted production at Cadia East’s Panel Cave 1 (PC1), in New South Wales, with production rates at the mine expected to be fully restored by the end of March next year. The ASX-listed miner on Wednesday said that the remediation and upgrade work required to... 

A cosmic theory and two-inch lump of gold drive Novo's 500% surge

By: Bloomberg     21st August 2017 Quinton Todd Hennigh has spent 13 years scouring the Earth for clues to back a hunch: that the world’s biggest gold resource has lost siblings elsewhere on the planet. Now the president of Novo Resources Corp thinks he may have found a counterpart of South Africa’s Witwatersrand in the ancient... 

Higher prices lift Newcrest revenue as FY gold output dips

By: Esmarie Swanepoel     14th August 2017 Gold miner Newcrest Mining on Monday reported a 6% increase in revenue for the 2017 financial year, despite slightly lower gold production. Revenue for the 12 months to June 30 increased from A$3.2-million to A$3.4-million, as the company benefited from an 8% higher realised gold price and a 10%... 

Newcrest withdraws from Oro Verde’s Topacio gold project

By: Creamer Media Reporter      11th August 2017 ASX-listed junior Oro Verde has resumed exploration control at the Topacio gold project, in Nicaragua, after gold major Newcrest Mining withdrew from the project. Oro Verde stated on Friday that the partnership with Newcrest over the past two years had significantly advanced the project and that... 

Newcrest pours money into WA explorer to search for gold projects

By: Creamer Media Reporter      21st July 2017 Australian gold major Newcrest Mining will provide A$500 000 in funding to exploration company Encounter over the next 12 months to look for projects in northern Western Australia. The companies on Friday announced their project generation alliance, which will use Encounter’s project team to... 

Newcrest restarts production at Cadia East

By: Esmarie Swanepoel     19th July 2017 Australian gold miner Newcrest Mining has restarted production at the Panel Cave 2 (PC2) at its Cadia East mine, in New South Wales, after completing a test and response phase. The miner in June started the testing phase at PC2, after operations were suspended in April owing to a seismic event. 

Cadia East prohibition notice lifted, ore extraction test phase starts

By: Mariaan Webb     28th June 2017 Gold miner Newcrest Mining is making progress with remedial and upgrade work at its Cadia East mine, where a seismic event in April halted operations, with the company on Wednesday starting a testing phase to resume normal operations from the mine’s Panel Cave 2 (PC2). The New South Wales... 

Transformational deal as Newcrest puts a further $40m into SolGold at significant premium

By: Henry Lazenby     16th June 2017 Ecuador-focused explorer SolGold has announced the placement of $41-million worth of new shares at 41p apiece – a significant premium to the company’s Aim-listed price on Friday morning – with Australian major Newcrest Mining investing another $40-million into the junior, and a further... 

Gold makes run toward $1 300 as risk flares from UK to Mideast

By: Bloomberg     7th June 2017 Gold’s taking aim at $1 300 an ounce. The metal has rallied to the highest since November as investors position themselves for the outcome of the UK election and potential drama of former FBI Director James Comey’s testimony, while also tracking tensions in the Middle East. Bullion for immediate... 

Newcrest firms up expansion plans

By: Esmarie Swanepoel     18th May 2017 Gold miner Newcrest Mining will progress the permit modification process at its Cadia project, in New South Wales, to increase capacity from the current 26-million tonnes a year to 35-million tonnes a year, in an effort to save time. The company earlier this month announced the completion of a... 

Newcrest to spend A$25m on Cadia East rehabilitation and upgrades

By: Esmarie Swanepoel     12th May 2017 Gold miner Newcrest Mining on Friday revealed that its Cadia East operation, in New South Wales, would require a capital investment of some A$25-million to rehabilitate and upgrade the mine following a seismic event in April. The New South Wales regulator placed Cadia East under a prohibition... 

Geodrill reports ‘most promising start to any fiscal year ever’ – CEO

By: Henry Lazenby     9th May 2017 A 20% jump in first-quarter revenues bears witness to strong demand for drilling services provided by Canada-based Geodrill, prompting president and CEO Dave Harper to bill the three months ended March as “the most promising start to any fiscal year ever”. The Toronto-based company recorded... 

Newcrest production declines slightly in March Q

By: Esmarie Swanepoel     27th April 2017 Australian gold major Newcrest Mining has reported a 2.6% decline in gold production and a 12.3% decline in copper production for the three months to December. Group gold production for the quarter reached 598 602 oz, while copper production reached 22 074 t in the three months to March, with... 

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