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Gold News

Caldas announces Marmato expansion PFS

By: Simone Liedtke     Updated 1 hour 53 minutes ago Canadian junior minor Caldas Gold has completed an updated mineral resource estimate for its Marmato project and also announced the preliminary results of a prefeasibility study (PFS) for the project, in Colombia. The PFS affirms the economic viability of the underground expansion of the Marmato... 

Hochschild halts operations in Peru after virus outbreak

By: Simone Liedtke     Updated 2 hours 8 minutes ago A number of workers at silver and gold mining company Hochschild Mining’s Inmaculada operation, in southern Peru, have tested positive for Covid-19, despite preventative measures being in place, including a comprehensive testing programme and quarantine for all employees. The UK-based company has... 

Cora records notable results in Mali, Senegal

By: Tasneem Bulbulia     Updated 2 hours 26 minutes ago West Africa-focused Cora Gold has recorded notable results from ongoing exploration programmes from its regional portfolio of permits in west Mali and Senegal. Results from exploration programmes continue to enhance the permits’ prospectivity and identify new drill targets, the company says. 

Minerals Council regrets delay of 2018 Mining Charter review 

By: Martin Creamer     Updated 2 hours 27 minutes ago Minerals Council South Africa on Monday expressed regret that the finalisation of the review of the contested elements of the 2018 Mining Charter had been delayed following a judgement of the full bench of the High Court in Pretoria ordering that a number of other parties be joined to the action.... 

Minerals Council regrets delay of 2018 Mining Charter review
Photo by Creamer Media
Minerals Council South Africa.

55 North to sell Edleston project to European Cobalt

By: Donna Slater     Updated 2 hours 50 minutes ago Gold explorer and developer 55 North Mining has entered into a definitive agreement with gold junior European Cobalt, which will acquire the rights, title and interest in the Edleston gold project, south of the Timmins gold camp, in Ontario. The definitive agreement is subject to shareholder... 

Stornoway’s Godin becomes Pretivm COO

By: Donna Slater     Updated 2 hours 52 minutes ago TSX-listed  intermediate gold producer Pretium Resources (Pretivm) reports that Patrick Godin has been appointed VP and COO, effective August 1, succeeding operations VP David Prins. Godin was until last month president, CEO and director of Stornoway Diamond Corporation. 

Endeavour permitted to mine extended area around Houndé mine

By: Marleny Arnoldi     Updated 3 hours ago TSX-listed Endeavour Mining has been granted a mining permit extension by the Burkina Faso government, covering the full Kari Area at its Houndé gold mine. The Kari area hosts the Kari Gap, Kari South, Kari Pump, Kari Center and Kari West discoveries.  

Altus defines 4.8Mt indicated resource at Mali project

By: Donna Slater     Updated 5 hours ago An independent mineral resource estimate (MRE) of Aim- and TSX-listed mining royalty company Altus Strategies’ Diba gold project, in Mali, has define a mineral resource of 4.8-million tonnes of gold at a grade of 1.39 g/t for 217 000 oz in the indicated category. The company's 100%-owned 81 km2... 

Nevada Copper appoints new CFO

By: Creamer Media Reporter      6th July 2020 Toronto-listed Nevada Copper, which owns the Pumpkin Hollow mine in Nevada, US, has appointed André van Niekerk as CFO. Van Niekerk is succeed Braam Jonker on July 13. Announcing the appointment on Monday, the company said Van Niekerk had extensive capital market experience and was responsible... 

Lundin Gold provides 2020 outlook for Ecuador mine

By: Mariaan Webb     6th July 2020 TSX-listed Lundin Gold has issued a 2020 production guidance for its Fruta del Norte mine, in Ecuador, after confirming on Sunday that operations have resume. The mine is forecast to produce between 200 000 oz and 220 000 oz during the year, of which 150 000 oz to 170 000 oz will be produced in... 

Small tailings dam collapses in Ecuador, communities denounce pollution

By: Reuters     6th July 2020 A small tailings dam associated with a mine run by Ecuadorean firm Austro Gold has collapsed, Ecuador's government said on Friday, sending mining waste into a nearby river. A retaining wall collapsed at the Armijos tailings station, located in the Camilo Ponce Enriquez area in southern Ecuador,... 

La Mancha's $100m investment in Endeavour completed

By: Schalk Burger     6th July 2020 TSX-listed gold producer Endeavour has issued 4.51-million shares to La Mancha in exchange for $100-million. The transaction came about as La Mancha chose to exercise its antidilution rights following Endeavour's merger with fellow West Africa-focused miner Semafo. 

Auteco shakes tin for Canadian gold

By: Esmarie Iannucci     6th July 2020 Junior minerals explorer Auteco Minerals is hoping to raise A$30.4-million through a fully underwritten share placement. The ASX-listed company on Monday announced that it would issue 225-million new shares, representing some 16.8% of the company’s existing issued capital, at a price of 13.5c... 

Aeris hedges Cracow gold

By: Esmarie Iannucci     6th July 2020 ASX-listed Aeris Resources has entered into unsecured gold hedges for 36 000 oz of gold, at a forward price of A$2 536.25/oz for the gold produced at its newly acquired Cracow mine, in Queensland. Aeris said that the hedges, with Macquarie Bank, would mature over the next 12 months in scheduled... 

Reopening of economies boosting metals prices 

By: Marleny Arnoldi     3rd July 2020 Since lockdown measures have started to ease around the world to contain Covid-19, ratings and research agency Standard & Poor’s Global (S&P Global) says the reopening of economies, combined with monetary stimulus by banks and governments, has allowed industrial metal prices to rise. However,... 

Reopening of economies boosting metals prices

Ora Banda raises cash for Davyhurst restart

By: Esmarie Iannucci     3rd July 2020 ASX-listed Ora Banda mining has launched a A$55-million capital raise to underpin the restart activities at its Davyhurst gold project, in Western Australia. The equity raising will consist of an institutional share placement to raise an initial A$40-million, and a one-for-nine accelerated... 

IDC appoints Gert Gouws acting CFO

By: Donna Slater     3rd July 2020 The Industrial Development Corporation (IDC) has appointed Gert Gouws as its acting CFO for a period of three months while the process of appointing the permanent incumbent is being finalised. The IDC notes that the recruitment process is progressing well and is expected to be concluded soon.  

IDC appoints Gert Gouws acting CFO
Photo by Creamer Media
IDC acting CFO Gert Gouws

Public to have its say on Stibnite gold mine in Idaho

By: Creamer Media Reporter      3rd July 2020 The United States Forest Service (USFS) and other regulators working on the review of the Stibnite gold project, in central Idaho, have released an updated permitting schedule, which indicates that the draft environmental-impact statement (EIS) will be released next month. Once the draft EIS is... 

Covid kills 13 mineworkers, no foreigners back at work  

By: Martin Creamer     2nd July 2020 Thirteen mineworkers have now succumbed to the coronavirus, Minerals Council South Africa public affairs and transformation senior executive Tebello Chabana said on Thursday. Of the 13 who have died, seven were employed in platinum mining in North West province, which has the most cases at 1 413... 

Covid kills 13 mineworkers, no foreigners back at work
Minerals Council South Africa Covid update covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Mining will need long-term strategies to survive new normal 

By: Simone Liedtke     2nd July 2020 For the mining industry to be successful post-Covid-19, the industry will require long-term strategies to deal with its challenges, which includes the pandemic. In a webinar hosted by the London Bullion Market Association (LBMA) on July 2, investment management firm Orion Resource Partners... 

Mining will need long-term strategies to survive new normal

Power Metal records update at Alamo in the US

By: Tasneem Bulbulia     2nd July 2020 Aim-listed Power Metal Resources has completed the registration of the additional claims at its Alamo gold project in Arizona, in the US. The follows a previous update where the company confirmed that following a successful site visit in January, its local partner had completed the staking of... 

Pan African launches ADR programme in the US

By: Donna Slater     2nd July 2020 Midtier gold producer Pan African Resources has established a sponsored Level-1 American Depository Receipt (ADR) programme on the over-the-counter market in the US with the Bank of New York Mellon being the appointed depository. In doing so, Pan African joins a number of its peers that have... 

Desormeaux joins Endeavour Mining as West Africa's largest gold miner is born

By: Mariaan Webb     2nd July 2020 Benoit Desormeaux has joined TSX-listed Endeavour Mining as president, following the completion of the company’s C$1-billion deal to create West Africa’s largest gold miner. Desormeaux was the CEO and president of Semafo, which Endeavour bought in an all-share transaction. Semafo’s CFO, Martin... 

Desormeaux joins Endeavour Mining as West Africa's largest gold miner is born
Endeavour Mining president Benoit Desormeaux

Argonaut and Alio complete merger

By: Creamer Media Reporter      2nd July 2020 Toronto-listed miner Argonaut Gold and Alio Gold have completed their business, creating a North American, diversified precious metals producing company with a strong portfolio of growth assets. “By combining Argonaut with Alio, we have created a diversified, intermediate gold producer with... 

Mount Mackenzie optimised - REZ

By: Esmarie Iannucci     2nd July 2020 Pit optimisation and higher gold prices have improved the economics of the Mount Mackenzie gold and silver project, in Queensland. ASX-listed Resources and Energy reported this week that on the back of an updated mineral resource estimate, and accounting for a higher gold price, the optimisation... 

Nevada Gold Mines excelled in its first year, says Barrick

By: Creamer Media Reporter      1st July 2020 Nevada Gold Mines (NGM), established a year ago on Wednesday, has posted an exceptional performance in its first 12 months of operation, delivering real value to all its stakeholders, says Barrick CEO Mark Bristow. Canada’s Barrick operates NGM, the world’s largest gold mining complex, and owns... 

Nevada Gold Mines excelled in its first year, says Barrick
The Goldstrike mine forms part of Nevada Gold Mines.

Eurasia Mining puts itself up for sale

By: Mariaan Webb     1st July 2020 London-listed Eurasia Mining, which operates platinum group metals (PGM) and gold mines in Russia, has started a formal sale process under the UK Takeover Code. UBS Investment Bank in London has been appointed its leading financial adviser to assist in a review of its strategic options. The... 

Covid-19 uncertainties giving precious metals a boost

By: Donna Slater     1st July 2020 Gold has maintained its safe haven status, with prices now having reached eight-year highs at about $1 800/oz on a fresh wave of Covid-19 infections that has been reported in parts of the US, the UK and China, integrated business enterprise Mitsubishi Corporation states. It notes in its '2020... 

Katoro hosts Blyvoor JV site visit for potential financiers

By: Donna Slater     1st July 2020 Aim-listed  Katoro Gold's Blyvoor joint venture (JV) management and technical team will be conducting an extensive site visit from July 1 to 2 to accelerate progress in two key areas of project financing and its definitive feasibility study (DFS). The company announced on May 29 that as a result... 

After taking out $1 800, gold investors focus on Fed’s next step

By: Bloomberg     1st July 2020 Fresh from cracking $1 800/pz, the global gold market wants to know what the Federal Reserve may do next to rescue the US economy, with minutes due later on Wednesday that may shed light on the central bank’s willingness to embrace yield curve control. Futures held near the highest in more than... 

After taking out $1 800, gold investors focus on Fed’s next step

Aeris completes Cracow buy

By: Esmarie Iannucci     1st July 2020 ASX-listed Aeris Resources has completed the acquisition of the Cracow gold mine, in Queensland, from gold miner Evolution Mining. The two companies in June struck a A$125-million agreement for Aeris to acquire the gold mine, with the consideration consisting of a A$60-million cash payment on... 

Ramelius sets new production record

By: Esmarie Iannucci     1st July 2020 Gold miner Ramelius Resources has produced a record 86 517 oz of gold in the June quarter, beating its guidance of 80 000 oz. The miner on Wednesday reported that the Mt Magnet operation produced 61 161 oz of gold during the quarter, while the Edna May operation contributed a further 25 356 oz. 

New Kirkland Lake guidance not too dissimilar from pre-Covid guidance

By: Mariaan Webb     30th June 2020 Gold miner Kirkland Lake Gold has re-issued its guidance for 2020, after it withdrew its initial 1.47-million-to-1.54-million guidance in April, owing to the impact of measures that it introduced to protect its workers, their families and the communities during the Covid-19 pandemic. The new... 

New Kirkland Lake guidance not too dissimilar from pre-Covid guidance

Polyus maintains output targets following Covid outbreak at largest mine

By: Reuters     30th June 2020 Russia's largest gold producer Polyus on Tuesday confirmed its output forecasts for this year and next following a major outbreak of coronavirus at its main Olimpiada mine in Siberia, which infected nearly a quarter of workers at the site. Polyus started testing all its staff in the Siberian... 

Polyus maintains output targets following Covid outbreak at largest mine
The Olimpiada mine, in Russia.

Gold climbs above $1 800 for the first time since 2011

By: Bloomberg     30th June 2020 Gold futures rose above $1 800/oz for the first time in eight years as low interest rates and a resurgence in coronavirus cases drive demand for the metal as a haven. The metal is heading for its best quarter since early 2016, benefiting from economic stimulus from the Federal Reserve and other... 

Gold climbs above $1 800 for the first time since 2011

Egypt says gold deposit discovered in southeast

By: Reuters     30th June 2020 Egypt's Ministry of Petroleum and Mineral Resources said on Tuesday a gold deposit with estimated resources of one-million ounces had been discovered in the southeast of the country. The deposit lies in the concession area of the military-controlled Shalateen Mining Company in the Eastern... 

Greenland gold miner AEX Gold eyes London listing

By: Reuters     30th June 2020 AEX Gold, a gold exploration and mining company focused on Greenland, said on Tuesday it plans an initial public offering (IPO) in London next month. AEX said it would seek admission to the London Stock Exchange's small company sub-market, AIM, and conduct a placement of common shares to raise... 

Greenland gold miner AEX Gold eyes London listing

Kefi Minerals to change name, updates Tulu Kapi economics given higher gold price

By: Marleny Arnoldi     30th June 2020 Aim-listed Kefi Minerals has announced it will host its annual general meeting virtually on August 13. The meeting will discuss a name-change of the company to Kefi Gold and Copper, to reinforce the company’s mission in those metals, given the discoveries that the company has made in the last... 

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