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Gold News
New Equinox mine in Brazil reaches commercial milestone
By: Mariaan Webb Updated 4 hours ago Canadian miner Equinox Gold has achieved commercial production at its Santa Luz mine, in Brazil. “Santa Luz is our fourth operating mine in Brazil and represents 100,000 ounces of average annual production with mine life extension potential from near-mine surface targets, an underground deposit,... →
Gold Fields sets shareholder vote date for Yamana deal
By: Reuters Updated 4 hours ago Shares in South Africa's Gold Fields jumped by 4% on Tuesday after the gold miner said shareholders would meet next month to vote on its proposed acquisition of Canada's Yamana Gold. Gold Fields announced in May that it had agreed a deal to take over Yamana in an all-share transaction that... →
Investment required to meet mining’s decarbonisation, power challenges – PwC 
By: Martin Creamer 4th October 2022 South Africa’s mining sector will be required to make major investments into alternative and renewable energy sources and energy planning to address the dual challenges of decarbonisation and reliable power supply, PwC said on Tuesday when it launched its SA Mine report, which highlights mining’s... →
Palladium discovery at Arizona silver mine a potential ‘game-changer’, says Silver Bullet
By: Mariaan Webb 4th October 2022 TSX-V-listed Silver Bullet Mines (SBMI) has made a surprise discovery of significant quantities of palladium and gold in the mineralised material from its Buckeye silver mine, in Arizona, which CEO John Carter says could be a “game changer” for the company. The gold and palladium were discovered... →
New Mexico mine to cost less than $30m – Minera Alamos
By: Mariaan Webb 4th October 2022 TSX-V-listed Minera Alamos has announced the results of a preliminary economic assessment (PEA) for its Cerro do Oro project, in Mexico, detailing plans for a 60 000 oz/y gold mine that will cost less than $30-million. The project has an 8.2-year mine life, based on an initial mineable total of... →
Energy and battery minerals driving Australian exports to record levels
By: Esmarie Iannucci 4th October 2022 Australia’s resources and energy exports are forecast to reach a record A$450-billion in 2022/23, with the export of battery metals, including copper, nickel and lithium, expected to more than double on the 2020/21 earnings. In the latest Resources and Energy Quarterly, the Office of the Chief... →
More platinum-based green hydrogen generation on the way
By: Martin Creamer 3rd October 2022 Up to 1 350 t of green hydrogen can now be generated a year from renewable solar and wind power in the Wunsiedel Energy Park, in Germany. “This is another example of platinum-based production of green hydrogen in Europe that will assist both the replacement of imported natural gas and the earlier... →
Sibanye ups shareholding in Keliber to nearly 85%
By: Mariaan Webb 3rd October 2022 Diversified mining company Sibanye-Stillwater has increased its effective shareholding in Finnish company Keliber to 85.96%, as part of financing arrangement that enables the lithium project to progress to the construction phase. In the first stage of the financing arrangement - announced in... →
Burkina Faso miners say work continues despite coup
By: Reuters 3rd October 2022 Endeavour Mining's operations in Burkina Faso are "unaffected by recent political events", the gold miner said on Monday after the West African nation's second military coup of the year on Friday. Endeavour is the biggest mining company in Burkina Faso, with four gold mines - Houndé, Mana,... →
WA miners worried about staff, optimistic on deals - report
By: Esmarie Iannucci 3rd October 2022 A new report by consulting services firm MinterEllison has highlighted the three key issues facing the mining and services sector. Research conducted among Western Australian mining executives has revealed concerns about rising costs, labour shortages, inflationary pressure, supply chain and... →
Iamgold reports board resignation
By: Mariaan Webb 3rd October 2022 Canada-based gold miner Iamgold has reported the resignation of Deborah Starkman from its board of directors, effective September 30. The decision to resign was to focus on her other processional commitments, the NYSE- and TSX-listed company said in a statement on Friday. →
Great Panther shifts leadership deck
By: Creamer Media Reporter 3rd October 2022 Precious metals miner Great Panther has announced board and management changes as part of its ongoing strategic initiative to reposition the company. Three of its directors, Elise Rees, Kevin Ross and Dana Williams, have each resigned from the board, with effect from September 30. →
West African not disturbed by coup
By: Esmarie Iannucci 3rd October 2022 ASX-listed West African Resources on Monday said that operations at its Sanbrado gold mine, in Burkina Faso, continued as normal, despite political unrest. Burkina Faso President Paul-Henri Damiba has resigned following a military coup. →
Red 5 sets A$66m raising target
By: Esmarie Iannucci 3rd October 2022 Gold miner Red 5 will raise A$60-milion in a two-tranche share placement to support the ramp-up of its King of the Hills (KOTH) gold mine, in Western Australia. The ASX-listed company on Monday said it had received firm commitments for the placement of 375-million new fully paid ordinary shares,... →
Zimbabwe wants half of royalties paid in gems, precious metals
By: Bloomberg 30th September 2022 Zimbabwe wants gold, diamond and platinum miners to pay half of their royalties to the government in the commodities themselves and the rest in cash, as the southern African country seeks to build its mineral reserves. The Treasury was concerned that the country does not have reserves of the... →
TRX commissions expanded oxide mill at Buckreef, Tanzania
By: Creamer Media Reporter 30th September 2022 Toronto-listed TRX Gold has commissioned the expanded 1 000 t/d oxide mill circuit at the Buckreef gold mine, in Tanzania. The mill expansion, from the original 360 t/d capacity, was planned less than 12 months ago at a capital cost of $4-million. The processing plant should reach its nameplate... →
Maelgwyn leveraging South Africa, African growth to expand business
By: Tasneem Bulbulia 30th September 2022 Owing to the considerable organic growth it has achieved in South Africa and Africa, mineral processing technologies and processes provider Maelgwyn has relocated to a new building, in Boundary Park, North Riding, and is aiming to leverage these premises and the enhanced capacity and capabilities... →
Endeavour appoints LBMA director to its board
By: Creamer Media Reporter 30th September 2022 LSE- and TSX-listed Endeavour Mining has appointed Sakhila Mirza, currently general counsel and an executive director of the London Bullion Market Association (LBMA) to its board of directors. Mirza has been appointed an independent nonexecutive director of Endeavour. →
New production targets for Sandfire as Simich steps down
By: Esmarie Iannucci 30th September 2022 Copper/gold miner Sandfire Resources has lifted its production guidance for 2023, announced the departure of its MD and CEO, Karl Simich, and completed a key financing milestone for its Motheo project, in Botswana. Sandfire on Friday announced that group production for the 2023 financial year is... →
Not much activity in the gold markets in August – WGC
By: Darren Parker 29th September 2022 Gold-related activity among central banks was muted in August, with only a handful of banks meaningfully contributing to the overall monthly total, World Gold Council (WGC) senior analyst Krishan Gopaul said on September 29 with the release of the WGC’s quarterly statistical update on gold... →
IAMGOLD is nearing its 70% interest after six years of investment in Senala project
By: Marleny Arnoldi 29th September 2022 Aim-listed Oriole Resources has announced its joint venture partner IAMGOLD Corporation is in the penultimate year of a six-year option agreement to earn a 70% interest in the Senala project, in Senegal. IAMGOLD earns this interest by spending up to $8-million on the project. →
Blue Spec gives life to Calidus' sulphide plans
By: Esmarie Iannucci 29th September 2022 Gold junior Calidus Resources on Thursday announced a maiden reserve for the Blue Spec satellite deposit, at its Warrawoona project, in Western Australia, which could support the planned Stage 2 sulphide plant. Calidus has announced a maiden reserve of 83 000 oz at the Blue Spec deposit, which... →
Matsa's asset sales hangs in the balance
By: Esmarie Iannucci 29th September 2022 Junior Matsa Resources’ A$20-million sale of its Devon and Red October projects, in Western Australia, is under threat after buyer Linden Gold Alliance failed to meet its ASX listing deadline. Matsa in December last year struck a deal with Linden to divest of the Red October and Devon projects... →
Sabina makes first drawdown on $125m gold stream
By: Creamer Media Reporter 29th September 2022 Precious metals company Sabina Gold & Silver has drawn $31.25-million on its $125-million gold stream facility with Wheaton Precious Metals. The proceeds of the stream are being used to continue development and construction of the Goose mine at its 100%-owned Back River gold district, in Nunavut. →
Mining Union calls for Energy Transition Authority
By: Esmarie Iannucci 29th September 2022 The Miners Union has called for the establishment of a national Energy Transition Authority amid announcements that coal-fired power stations on both Victoria and Queensland would be fast-tracked to closure. The Queensland government this week announced plans to exit coal-fired power stations... →
Newmont finance chief steps down
By: Mariaan Webb 29th September 2022 Gold major Newmont has started a global search for a CFO following the departure of Nancy Buese, who is stepping down to pursue an opportunity outside of the company. Brian Tabolt, currently VP, controller and chief accounting officer, has been appointed CFO on an interim basis. →
Minerals Council ‘absolutely adamant’ about need for commercially available cadastre
By: Martin Creamer 29th September 2022 The key objective of transparency in applying for prospecting rights and mining rights – and openly managing them – can be enabled by a commercially available cadastre system. While South Africa does not have such a cadastre, fellow African countries that are already thriving on it include... →
Nevada Gold Mines wraps up gold royalty sale
By: Creamer Media Reporter 28th September 2022 Nevada Gold Mines (NGM) – a joint venture between Barrick and Newmont – on Wednesday announced the closing of its previously announced sale of a portfolio of royalties to Gold Royalty for $27.5-million. The sale was satisfied through the issuance of Gold Royalty to NGM of 9 393 681 common shares. →
Metals for cleaner future being turned to account in minerals-endowed Northern Cape
By: Martin Creamer 28th September 2022 South Africa’s critical minerals potential is being highlighted in an increasingly promising manner by Orion Minerals, the Sydney- and Johannesburg-listed company that is showing the way in the minerals-endowed Northern Cape. Orion, headed by its Boksburg-born CEO Errol Smart, is poised to bestow... →
Sandstorm Gold to raise $80m
By: Mariaan Webb 28th September 2022 Gold royalty company Sandstorm Gold has announced a $80-million capital raising to fund future acquisitions or streams and royalties, as well as the repayment, from time to time, of amounts drawn under its revolving creditor facility. The NYSE- and TSX-listed company has entered into an... →
Beaufor idled amid operational, financial woes
By: Mariaan Webb 28th September 2022 The Beaufor gold mine, in Val’d Or, Quebec, is being put on care and maintenance for “an undetermined period”, owner Monarch Mining said on Tuesday, citing financial and operational challenges. The TSX-listed company at the end of last month started slowing down its mining activities at Beaufor,... →
PNX buys Mt Porter deposit
By: Esmarie Iannucci 28th September 2022 Metals explorer PNX Metals will acquire the Mt Porter gold deposit, in the Northern Territory, which is within trucking distance of its Fountain Head and Hayes Creek zinc/gold/silver development. The company struck a deal with unlisted Ausgold Trading to acquire the Mt Porter deposit for... →
Kin takes a minor stake in Dacian
By: Esmarie Iannucci 28th September 2022 Junior Kin Mining has acquired 20-million shares in takeover target Dacian Gold, giving it a 1.63% stake in the company. ASX-listed Genesis Minerals is in the midst of a takeover of Dacian Gold, offering 0.0843 of its own shares for every Dacian share held, implying a value of 10.2c a share for... →
GoldStone records good results from diamond drilling at Ghana project
By: Tasneem Bulbulia 27th September 2022 Aim-listed GoldStone Resources has provided the assays from the first three holes of the diamond drilling (DD) programme, announced August 30, with the company highlighting “very encouraging results”. These holes are the first in a programme designed to probe the southward extension of the... →
Cora delays Sanankoro DFS
By: Darren Parker 27th September 2022 West Africa-focused gold company Cora Gold has announced that the definitive feasibility study (DFS) for the Sanankoro gold project, in southern Mali, will not be completed during the third quarter as previously announced. Instead, Cora said on September 27 that, while several of the DFS work... →
Finland plans new tax on mining
By: Reuters 27th September 2022 Finland's government plans to introduce a new tax on minerals extracted by the mining industry, the Nordic country's finance ministry said on Tuesday. Some of the European Union's greatest known reserves of minerals used for batteries and other products are located in Finland where there are... →
GCM and Aris complete business combination
By: Creamer Media Reporter 27th September 2022 Toronto-listed mining companies GCM Mining and Aris Gold have completed their business combination and renamed the combined entity Aris Mining Corporation. Aris Mining now operates several high-grade underground mines at its Segovia Operations and the Marmato mine, in Colombia, which together... →
Green hydrogen, fuel cells important part of any future energy system, says global strategist
By: Martin Creamer 27th September 2022 Green hydrogen and fuel cells will be a very important part of any future energy system, says Switzerland-based energy and sustainability consultancy strategist Dr David Hart. Among the electrolysers that convert renewable electricity into green hydrogen are proton exchange membrane (PEM)... →
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