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Gold News

Centamin's Sukari exceeds first-quarter output target

By: Creamer Media Reporter      Updated 2 hours 2 minutes ago Dual-listed Centamin's Sukari gold mine, in Egypt, produced 116 183 oz of gold in the first quarter of this year, exceeding the targeted output of 105 000 oz to 115 000 oz. The TSX- and LSE-listed company said the openpit operation had performed broadly in line with plan, while the underground... 

World's central banks want more gold as India joins spree

By: Bloomberg     Updated 2 hours 40 minutes ago India’s central bank is likely to join counterparts in Russia and China scooping up gold this year, adding to its record holdings and lending support to worldwide bullion demand as top economies diversify their reserves. The Reserve Bank of India’s purchases are part of a wider picture across... 

World's central banks want more gold as India joins spree

Fortune finds potential new site for Nico refinery

By: Creamer Media Reporter      Updated 3 hours ago Cobalt project developer Fortune Minerals has entered into an option to buy an alternative site to construct the proposed hydrometallurgical refinery that will process metal concentrates from the planned Nico cobalt/gold/bismuth/copper mine, after the rural municipality of Corman Park last month... 

Aurelia faces tough quarter

By: Esmarie Iannucci     Updated 4 hours ago Junior gold miner Aurelia Metals has reported a weaker quarter in the three months to March, as gold grades at the Peak mine, in New South Wales, underperformed. Group gold production in the March quarter declined to 23 323 oz, down from the 35 834 oz reported in the previous quarter, with gold... 

Alaska mine expected to lead Northern Star production recovery

By: Esmarie Iannucci     Updated 4 hours ago Gold miner Northern Star Resources is poised for a record quarter of production during the three months to June, as the Pogo mine, in Alaska, gears up to increase its output. Northern Star on Wednesday reported that gold production in the March quarter reached 186 255 oz, down slightly from the... 

Alaska mine expected to lead Northern Star production recovery
Photo by Bloomberg
Northern Star CEO Bill Beament

Agnico bets on high grade gold as it digs in Canada's remote north

By: Reuters     Updated 4 hours ago Agnico Eagle Mines is doubling down this year on Nunavut, Canada’s least developed territory, betting that the high-grade gold ores and slim competition there will offset the risks of digging in the remote location in the far north. For miners desperate to shore up reserves, the choice is often... 

Agnico bets on high grade gold as it digs in Canada's remote north

IronRidge granted exploration licence for Côte d'Ivoire gold project

By: Tasneem Bulbulia     23rd April 2019 Aim-listed, Africa-focussed minerals exploration company IronRidge Resources has been granted an exploration licence for the Zaranou gold project, in Côte d'Ivoire. It has also secured an extension to the exclusive due diligence period for the project. 

Polyus reports strong first quarter

By: Creamer Media Reporter      23rd April 2019 Russian gold miner Polyus produced 600 700 oz of gold in the first quarter of 2019, which is 19% more than what the company produced in the same period a year earlier. Compared with the fourth quarter of 2018, total output was down 6%, and the London-listed gold miner explained on Tuesday that... 

Global Witness welcomes LME’s new responsible sourcing rules 

By: Marleny Arnoldi     23rd April 2019 International nongovernmental organisation (NGO) Global Witness has welcomed the London Metal Exchange’s (LME’s) new responsible sourcing rules, which were published for public consultation on Tuesday. The exchange’s responsible sourcing roadmap is intended for LME-listed brands and builds on a... 

Global Witness welcomes LME’s new responsible sourcing rules

Guinea transfers oversight of State mining company to Presidency

By: Bloomberg     23rd April 2019 The office of Guinean President Alpha Conde is assuming oversight of the West African nation’s State-owned mining company in a move that will hand him more authority over the country’s holdings in some of world’s biggest bauxite deposits. The Presidency will take command of Societe Guinneenne du... 

IMF slates unpredictable policies in report Tanzania blocked

By: Bloomberg     23rd April 2019 The International Monetary Fund said that Tanzania’s economy is being harmed by the government’s “unpredictable and interventionist policies” in a report whose release the East African country has blocked. Tanzania refused to authorize the publication of the report, the IMF said Wednesday in a... 

Red 5 reports a solid March quarter

By: Esmarie Iannucci     23rd April 2019 Junior gold miner Red 5 has reported a steady production quarter in the three months to March, with gold production reaching 24 187 oz, compared with the 26 118 oz produced in the previous quarter. Gold sales for the March quarter declined slightly from 27 149 oz in the previous quarter, to 23... 

Laneway pours first gold in Qld

By: Esmarie Iannucci     23rd April 2019 First gold has been poured from the Agate Creek gold project, in North Queensland, ASX-listed Laneway Resources reported on Tuesday. The first gold pour was achieved within ten weeks of the grant of a mining lease, and three dore bars collectively weighing 22 kg of gold and silver bullion have... 

Echo updates Yandal BFS

By: Esmarie Iannucci     23rd April 2019 A revised bankable feasibility study into the Yandal gold project, in Western Australia, has estimated that a capital injection of A$42-million would be required to bring the project into production. The BFS is based in the refurbishment of ASX-listed Echo Resources’ Bronzewing processing plant... 

Cornerstone and Newcrest in definitive Ecuador option agreement

By: Creamer Media Reporter      23rd April 2019 Australian major Newcrest has signed a binding option and farm-in agreement with exploration company Cornerstone Capital Resources over the Caña Brava and Tioloma properties in Ecuador, targeting epithermal gold/silver and porphyry gold/copper deposits. The agreement replaces the heads of... 

World's No 1 gold complex taking shape – Barrick

By: Mariaan Webb     23rd April 2019 The creation of the world’s largest gold producing complex, the yet-to-be-named joint venture (JV) of Barrick Gold and Newmont Goldcorp in Nevada, has cleared all regulatory conditions required for its completion, Canadian miner Barrick reported on Monday. This comes as the US Federal Trade... 

World's No 1 gold complex taking shape – Barrick
Newmont's Gary Goldberg and Barrick's Mark Bristow pictured together in March.

Canadian miner finds new high-grade zinc and gold deposit

19th April 2019 Canadian mining company Hudbay Minerals has announced the discovery of 35.6 m of high-grade mineralisation including both zinc-rich massive sulphides and gold. The deposit is located between the old Chisel North mine and the producing Lalor mine in Manitoba, Canada, at a down hole depth between... 

Canadian miner finds  new high-grade zinc  and gold deposit
ALAN HAIR These zinc-rich and gold-rich intersections highlight the ever prospective nature of the Flin Flon greenstone belt and demonstrate the value of our Manitoba assets

Underground copper project start remains on track

19th April 2019 Copper ore company Nevada Copper has confirmed that its Pumpkin Hollow underground copper project remains on target to start production in the fourth quarter this year. Pumpkin Hollow is located in Nevada, in the US and has substantial reserves and resources including copper, gold and silver. 

Underground copper project start remains  on track
ON SCHEDULE surface infrastructure and processing equipment are advancing to plan

Construction at Turquoise Ridge mine progresses

19th April 2019 Construction of a third shaft at mining company Barrick Gold’s underground mine Turquoise Ridge in Nevada, in the US, continues to advance according to schedule and within budget, the miner noted in its financial report, released in February. Efforts for this year will focus on shaft sinking and... 

Construction at Turquoise Ridge  mine progresses
PIPELINE POTENTIAL Barrick Gold continues to advance a pipeline of high-confidence projects at or near its existing operations

Ivanplats to complete early-works construction at Platreef Shaft 2

By: Mc'Kyla Nortje     19th April 2019 Ivanplats, the South African subsidiary of Ivanhoe Mines, is expected to complete early-works construction at Shaft 2 of the Platreef palladium/platinum/nickel/copper/gold/rhodium project, near Mokopane, in Limpopo, South Africa, in the second quarter, says Ivanplats VP and project director... 

Ivanplats to complete early-works construction at Platreef Shaft 2
SHAFT 2 Aerial view of the Shaft 2 box cut early works with the concrete hitch under construction

Mining sector’s pursuit of ‘zero harm’ continues

By: Simone Liedtke     19th April 2019 The South African mining industry has continuously recommitted to the shared aspiration of zero harm, which aims to ensure that mineworkers return home from work unharmed every day. While there was an 86% decline in the number of fatalities from 1994 to 2016, the death of 90 mineworkers marked a... 

Mining sector’s pursuit of ‘zero harm’ continues

Roxgold to start drilling at newly acquired Séguéla

By: Marleny Arnoldi     18th April 2019 TSX-listed Roxgold has completed a previously announced portfolio acquisition worth $20-million from Newcrest West Africa, which comprises 11 exploration permits in Côte d'Ivoire. The transaction includes the Séguéla project, which CEO and president John Dorward says has significant growth... 

Barrick's quarterly performance in line with operating plan

By: Mariaan Webb     18th April 2019 Gold mining major Barrick Gold on Thursday reported a solid operating performance across its portfolio, announcing preliminary first-quarter production of 1.37-million ounces of gold and 106-million pounds of copper. This, the NYSE- and TSX-listed company said, was in line with its operating... 

Barrick's quarterly performance in line with operating plan

TomaGold spin-out Monster Lake takes option over property

By: Creamer Media Reporter      18th April 2019 TSX-V-listed TomaGold’s proposed spin-out Monster Exploration has entered into a share purchase option agreement to acquire an option over the Philibert property, 10 km south-east of its Monster Lake property in Quebec's Chibougamau mining camp. Pursuant to the agreement, Monster has the right... 

Mantashe, Oliphant welcome end to Sibanye-Stillwater gold strike

By: Simone Liedtke     18th April 2019 Mineral Resources Minister Gwede Mantashe and Labour Minister Mildred Oliphant have welcomed the end of the Association of Mineworkers and Construction Union’s five-month strike at Sibanye-Stillwater’s gold operations. The parties announced the resolution of their differences on Wednesday. 

Polymetal reports big jump in production

By: Creamer Media Reporter      18th April 2019 Russian gold and silver producer Polymetal on Thursday reported a 27% year-on-year increase in first-quarter gold-equivalent (GE) production, on the back of a strong performance from its Kyzyl mine and steady operational performance at its other mines. GE production increased to 374 000 oz. Gold... 

Shanta achieves strong first-quarter performance

By: Tasneem Bulbulia     18th April 2019 East Africa-focused gold producer Shanta Gold had a strong start to 2019 – with the quarter ended March 31 having been its best opening quarter in three years in terms of production. Its costs were also well below guidance. 

Weednanna proves promising for Alliance

By: Esmarie Iannucci     18th April 2019 The Weednanna gold project, in South Australia, would likely require a capital investment of some A$44.4-million, a scoping study has found ASX-listed Alliance Resources on Thursday said that the scoping study, based on a 250 000 t/y gold processing plant and tailings storage facility, had... 

St Barbara books solid quarter

By: Esmarie Iannucci     18th April 2019 Gold miner St Barbara has revised its production forecast at both its Gwalia and Simberi operations, in Western Australia and Papua New Guinea respectively. The ASX-listed miner was now expecting Gwalia to produce between 235 000 oz and 240 000 oz in the full 2019, compared with the previous... 

Resolute inks new mining convention in Mali

By: Esmarie Iannucci     18th April 2019 Gold miner Resolute Mining has struck a new Mining Convention with the Mali government over its Syama gold mine, lowering the income tax rate on the project from 35% to 25%. Resolute on Thursday reported that the Mali government had also granted a further ten-year extension to the Syama mining... 

Majority of B2Gold’s mines outperform guidance in strong first quarter

By: Nadine James     18th April 2019 TSX-listed B2Gold exceeded its first-quarter production and sales guidance by 6%, producing 230 859 oz and selling 232 076 oz of gold. The Fekola, Masbate, Otjikoto and El Limon mines all exceeded their targeted production, with the Mali-based Fekola and the Philippines-based Masbate mines,... 

NGEx to separate Argentina and Chile projects with spin-out

By: Mariaan Webb     18th April 2019 Vancouver-based copper/gold explorer and developer NGEx Resources has announced that it will spin out its Los Helados project, in Chile, into a wholly-owned subsidiary, Spinco, to allow it to focus on the more advanced Josemaría project, in Argentina, which is now advancing to the feasibility... 

Goldcorp and Newmont successfully create gold behemoth

By: Creamer Media Reporter      18th April 2019 Gold miners Goldcorp and Newmont have successfully closed their $10-billion merger, creating the world’s largest gold mining business with operations in the Americas, Africa and Australia. Newmont Goldcorp will continue trading on the NYSE with the ticker ‘NEM’ and will begin trading on the TSX... 

Five-month gold strike is over 

By: Martin Creamer     17th April 2019 The five-month strike by the Association of Mineworkers and Construction Union (AMCU) at Sibanye-Stillwater’s South African gold operations is over. Parties have acknowledged that it is in their interest to rebase and develop a constructive relationship going forward, Sibanye-Stillwater said in a... 

Moroccan miner Managem considering raising $200m in bond sales

By: Reuters     17th April 2019 Morocco's leading mining firm Managem says it is considering raising $200-million through the sale of nonconvertible bonds with a maturity of up to seven years, to fund its development plans. The terms of the issuance will have to be approved by its general assembly on May 6, Managem said in a... 

Altus defines further prospect at Mali gold project

By: Marleny Arnoldi     17th April 2019 Aim- and TSX-V-listed Altus Strategies has defined a further significant prospect at its Diba gold project, in Mali. "Our detailed review of Diba's historical data, as reported on February 4, identified multiple priority drill targets including a 1.85-km-long anomalous zone adjacent to the... 

Geopolitical, economic uncertainty pushes European ETPs to record high in first quarter – WGC

By: Nadine James     17th April 2019 Since the start of 2016, assets in European gold-backed exchange-traded products (ETPs) have grown rapidly, hitting a record high of 1 121.4 t ($48-billion) in the first quarter of this year, the World Gold Council (WGC) reported on Wednesday. Since their emergence in 2003, gold-backed ETPs have... 

Geopolitical, economic uncertainty pushes European ETPs to record high in first quarter – WGC

Galane resurrects Galaxy mine

By: Creamer Media Reporter      17th April 2019 TSX-V-listed Galane Gold has produced its first concentrate at the Galaxy mine, in South Africa’s Mpumalanga province, as commissioning of the 15-million-tonne-a-year refurbished plant got under way. The plant was expected to reach full capacity from May onwards, the company reported on... 

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