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Gold News

Alamos reports best-hole yet at Island Gold

By: Creamer Media Reporter      15th June 2021 Canadian miner Alamos Gold on Tuesday reported new results from surface and underground exploration drilling at the Island Gold mine, further extending high-grade mineralisation in Island East and West. At Island East, high-grade mineralisation extended 20 m from the nearest inferred resource... 

300-plus vehicle fleets assessed for cleaner, safer mine mobility in five regions – ICMM 

By: Martin Creamer     15th June 2021 As part of the cleaner, safer vehicles initiative of the International Council on Mining and Metals (ICMM), more than 300 vehicle fleets have this year been assessed for cleaner, safer mobility on more than 300 mines in five regions globally, ICMM health, safety and product stewardship director... 

300-plus vehicle fleets assessed for cleaner, safer mine mobility in five regions – ICMM
International Council on Mining and Metals’ Sarah Bell interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Asanko-owner Galiano Gold CEO steps down

By: Creamer Media Reporter      15th June 2021 Toronto-listed Galiano Gold on Monday reported that Greg McCunn had stepped down as CEO and as director of the company and that he would be succeeded by COO Matt Baylak. Galiano operates and manages the Asanko Gold mine, in Ghana, which is jointly owned with Gold Fields.  

E79 stock skyrockets on 2.4k g/t at Happy Valley, Australia

By: Mariaan Webb     15th June 2021 The share price of Canadian minnow E79 Resources surged 240% to C$1.26 a share on Monday, as the company reported initial assay results from the first two drill holes at its Happy Valley gold prospect in Victoria, Australia. The two drill holes confirm extension of mineralised structures... 

E79 stock skyrockets on 2.4k g/t at Happy Valley, Australia
HVD003 drill core section (190.40 m) showing visible gold mineralisation and associated sulphides

NT approves Vista's plans for Mt Todd

By: Esmarie Iannucci     15th June 2021 The Northern Territory government has approved US-based Vista Gold Corp’s mining management plan (MMP) for its Mt Todd gold project, marking the final major authorization required for the development of the gold mine. Vista Gold said this week that the receipt of this approval marked the... 

NT approves Vista's plans for Mt Todd

Regis reports new resource estimates

By: Esmarie Iannucci     15th June 2021 Gold miner Regis Resource’s mineral resource estimate has now been estimated at 10.4-million, with the company reporting an ore reserve of 4.8-million, following the acquisition of a 30% interest in the Tropicana gold mine. Regis earlier this month settled the A$903-million purchase of fellow... 

Centerra CEO weighs ‘divorce’ with Kyrgyzstan on seized mine

By: Bloomberg     14th June 2021 Centerra Gold could part ways with Kyrgyzstan’s government over its seized flagship mine in the Central Asian nation, but the company’s top executive would like to discuss it first. Relations between Centerra and the Kyrgyz Republic have soured so much since the government took control of Kumtor... 

Centerra CEO weighs ‘divorce’ with Kyrgyzstan on seized mine
The Kumtor gold mine in Kyrgyzstan

Yamana aims for 200 000 oz/y at Wasamac, construction decision expected soon

By: Mariaan Webb     14th June 2021 Canadian bullion miner Yamana Gold would soon make a formal construction decision for the Wasamac project, the TSX-listed company said on Monday, while also announcing the acquisition of gold properties adjoining the project. Yamana, which acquired the Wasamac property, in Quebec, from Monarch... 

Yamana aims for 200 000 oz/y at Wasamac, construction decision expected soon

Tanzania to add gold to reserves, resume $3bn iron project

By: Bloomberg     14th June 2021 Tanzania launched a new gold refinery as its central bank plans to start buying the metal to diversify its reserves. The Mwanza Precious Metal Refinery is able to process 480 kg of gold a day and plans to double the capacity in a few months, Tanzanian President Samia Suluhu Hassan said in a... 

Aya launches gold feasibility study in Mauritania

By: Creamer Media Reporter      14th June 2021 Toronto-listed Aya Gold & Silver has launched a feasibility study to assess the potential for developing the Tijirit gold project, in Mauritania, following the completion of the acquisition of TSX-V-listed Algold Resources. 

Endeavour admitted to LSE

By: Creamer Media Reporter      14th June 2021 West Africa-focused gold miner Endeavour Mining started trading on the LSE main market on Monday and is now the largest pure gold producer on the premium segment of the London market. “Over the past few years, we have built a resilient business, with a high-quality asset base made up of low... 

OreCorp mulls WA demerger

By: Esmarie Iannucci     14th June 2021 ASX-listed OreCorp is considering demerging its Western Australian exploration assets, allowing the company to focus on the development of its Nyanzaga gold project, in Tanzania. The Western Australian assets includes the Hobbes project, in the Easter Goldfields, which is currently held by the... 

Gold Fields’ South Deep, trade unions ink three-year wage deal

By: Simone Liedtke     11th June 2021 Gold Fields’ South Deep mine and trade unions the National Union of Mineworkers (NUM) and Uasa, have concluded a three-year wage agreement for the period from March 1, 2021, to February 28, 2024. The parties believe the agreement is in the best interest of employees and the mine’s long-term... 

Aeris completes A$50m capital raise

By: Esmarie Iannucci     11th June 2021 Copper/gold producer Aeris Resources has completed a A$50.4-million capital raise to accelerate exploration at the Tritton copper project and the Cracow gold mine, in New South Wales and Queensland respectively. Some 287.9-million new shares will now be issued at a price of 17.5c each in an... 

Allow geologists from surrounding African countries to boost SA's exploration rebirth, top explorer advises  

By: Martin Creamer     11th June 2021 Exploration geologists from surrounding countries should be allowed into South Africa to boost exploration. That is the view of Exploration Geology Consultants exploration manager Thinus Jordaan, who believes that South Africa’s planned exploration thrust should focus on commodities required in... 

Allow geologists from surrounding African countries to boost SA's exploration rebirth, top explorer advises
Exploration manager Thinus Jordaan interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Mining output performs well, but off a low base

By: Marleny Arnoldi     10th June 2021 Mining output has increased by 116.5% year-on-year in April, after having increased by 22.5% year-on-year in March. The largest contributors were platinum group metals, growing by 276%; gold, growing by 177%; manganese ore, growing by 208%; and iron-ore, growing by 149%. 

Electrification, digitalisation and automation to increase mines safety and productivity

By: Donna Slater     10th June 2021 South African mines wanting to drive greater operational safety, productivity and sustainability, as well as increase mine life, should tap into electrification, digitalisation and automation, says engineering company ABB South Africa process industries division manager John Manuell. From a... 

Organisers of Nordgold IPO see its value at $5.1bn to $6.6bn - sources

By: Reuters     10th June 2021 Two organisers of an initial public offering (IPO) for Russia-focused gold producer Nordgold see its equity value at $5.1-billion to $6.6-billion, three financial market sources told Reuters on Thursday. Gazprombank put it at $5.1-billion to $6.6-billion, while Renaissance sees it at... 

GoviEx reports positive gold drilling results at Mali project

By: Simone Liedtke     10th June 2021 TSX-V-listed GoviEx Uranium has received positive gold assay results following the completion of its air-core drilling programme on the Madini exploration licence, which is part of the company’s Falea uranium project, in Mali. International Drilling Company (IDC), from Senegal, conducted a... 

IMF calls for ‘speedy, transparent’ resolution of Kumtor dispute

By: Mariaan Webb     9th June 2021 The International Monetary Fund (IMF) has called for a “speedy and transparent” resolution of the ongoing dispute over the Kumtor gold mine, in Kyrgyzstan, noting that stable gold production is key to the Central Asian nation’s economic growth forecasts of 3.8% in 2021 and 6.4% in 2022.... 

IMF calls for ‘speedy, transparent’ resolution of Kumtor dispute

Harte Gold advances strategic review

By: Creamer Media Reporter      9th June 2021 Toronto-headquartered Harte Gold has made progress with the strategic review process currently under way, reporting on Wednesday that it had opened its virtual data room to several interested parties to conduct further due diligence of the company. Harte, which owns the Sugar Zone mine, in... 

Harte Gold advances strategic review

Metal worth more than gold is set to get even more expensive

By: Bloomberg     9th June 2021 Palladium’s surge has given it the title of most-expensive of the major traded precious metals, and its gap over gold may widen as demand buoys prices. The metal used in catalytic converters hit an all-time high of more than $3 018/oz in May and, even as its rally cooled over the past month, is... 

Metal worth more than gold is set to get even more expensive

Regenerative coal mining crucial part of just transition to green economy – Bevan Jones 

By: Martin Creamer     9th June 2021 A shift to “regenerative mining” of coal reserves is a crucial part of a solution to a greener, cleaner future, said African Source Markets CEO Bevan Jones on Wednesday. Jones, a former commodity trader at Macquarie and Rand Merchant Bank, who cofounded the global coal market in London in the... 

Regenerative coal mining crucial part of just transition to green economy – Bevan Jones
African Source Markets CEO Bevan Jones

Ghana gold project has ‘tremendous upside’ – Newcore CEO

By: Mariaan Webb     9th June 2021 Canadian junior Newcore Gold has announced a preliminary economic assessment (PEA) for its Enchi gold project, in Ghana, outlining plans for an openpit and heap leach operation processing 6.6-million tonnes a year with strong economics and low capital intensity. Initial capital costs are... 

Resolute starts early debt repayment

By: Esmarie Iannucci     9th June 2021 Gold miner Resolute Mining has repaid $20-million in debt in advance of its repayment schedule. The company’s first schedule repayment under its current term loan facility is in September, with Resolute on Wednesday telling shareholders that it was intent on repaying all its term loan... 

Central banks expected to buy the same amount of gold as last year, says WGC 

By: Simone Liedtke     8th June 2021 Central banks continue to be positive on gold, with about the same number of central banks expected to buy gold compared with last year, the World Gold Council (WGC) said on June 8. In its the ‘2021 Central Bank Gold Reserves (CBGR)’ survey, the council noted that 21% of central banks intend to... 

Central banks expected to buy the same amount of gold as last year, says WGC

First-quarter GDP up 4.6% 

By: Donna Slater     8th June 2021 South Africa’s gross domestic product (GDP) increased at a yearly rate of 4.6% during the first quarter of 2021, reports Statistics South Africa (Stats SA). The mining and quarrying sectors combined grew by 18.1%, contributing 1.2 percentage points to the overall GDP figure, while the... 

First-quarter GDP up 4.6%

Candelaria walks away from Georgia acquisition, Empire sells to JV partner

By: Mariaan Webb     8th June 2021 TSX-V-listed Candelaria Mining has terminated an agreement to buy a share in a 30-year copper/gold mining concession, in Georgia, after Aim-listed Empire Metals could not reach an agreement with its joint venture partner regarding a right of first refusal. Instead, Empire has sold its 50% in the... 

Mining firms with higher ESG ratings outperform market – PwC  

By: Martin Creamer     8th June 2021 Mining companies with higher environmental, social and governance (ESG) ratings outperformed the broader market during the peak of the Covid-19 crisis, delivering 34% average total shareholder return over the past three years — ten percentage points higher than the general market index,  PwC... 

Mining firms with higher ESG ratings outperform market – PwC
PwC Mine 2021 Report covered by Mining Weekly’s Martin Creamer. Video: Nicholas Boyd

Monarch upsizes placement

By: Mariaan Webb     8th June 2021 Gold company Monarch Mining has upsized its bought deal private placement to C$6-million, following strong demand for its previously announced financing of C$5-million. Monarch, which owns four advanced projects in the Val-D’Or mining camp in Quebec, has amended an agreement with Sprott Capital... 

Endeavour presents investment case ahead of LSE listing

By: Donna Slater     8th June 2021 Prior to listing on the LSE in the premium segment in mid-June, gold producer Endeavour Mining reports that it has grown significantly over the past few years to become the most significant gold miner and explorer in West Africa. With seven operating assets, six development projects and one of... 

Endeavour presents investment case ahead of LSE listing

Activities ramping up at Okvaue

By: Esmarie Iannucci     8th June 2021 Crushing activities has started at ASX-listed Emerald Resources’ Okvau gold project, in Cambodia. “The first ore feed and commencement of wet commissioning of the Okvau gold project is a significant milestone for the company and represents the exceptional efforts by our experienced construction... 

Ora Banda shakes the tin

By: Esmarie Iannucci     8th June 2021 ASX-listed Ora Banda Mining will raise A$21-million through a share placement, and has targeted a further A$4-million in capital raise through a share purchase plan (SPP). The gold miner on Tuesday reported that the company had received commitments from professional and sophisticated investors... 

Miners due better year in 2021 - report

By: Esmarie Iannucci     8th June 2021 New research from PwC has found that the world’s top 40 miners could report record high revenues and earnings in 2021, and the second highest net profits in 18 years. In its Mine 2021 report, PwC noted that strong commodity prices propelled market capitalisation to rise by 64% on 2019 figures to... 

Miners due better year in 2021 - report

Gold ETFs add $3.4bn to supply, reversing three months of net outflows

By: Simone Liedtke     7th June 2021 Global gold exchange-traded funds (ETFs) added 61.3 t, valued at about $3.4-billion, in May, reversing three straight months of net outflows, which the World Gold Council (WGC) says is largely a function of investment demand increasing with the price strength of gold, along with renewed inflation... 

SSC Group claims legal victory with high court ruling on business rescue of Lily, Barbrook mines 

By: Donna Slater     7th June 2021 SSC Group, a bidder and creditor for the Lily and Barbrook mines in Barberton, which both remain under business rescue, says “truth and justice” have been won with a court judgment that was handed down by the Mpumalanga High Court on May 31, which it says found that the behaviour and actions of... 

Bryah has backing for $3.95m placement

By: Marleny Arnoldi     7th June 2021 Perth-based explorer Bryah Resources has received binding commitments totalling $3.95-million for a 52-million share placement the company plans to offer. The free attaching options the company will be offering, with an issue price of $0.075 apiece and exercise price of $0.09 apiece, will... 

Sayona ramping up Western Australia gold exploration

By: Simone Liedtke     7th June 2021 Emerging miner Sayona is ramping up its Western Australian gold exploration, with the company committing to a A$2-million budget for 2021. Recent success in identifying 16 new target anomalies during April’s airborne magnetic surveying has encouraged the increased exploration activity. 

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