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Gold News
Harmony reaches wage agreement with five unions
By: Marleny Arnoldi 16th September 2021 Trade unions Solidarity, the Association of Mineworkers and Construction Union, the National Union of Mineworkers, Uasa and the National Union of Metalworkers of South Africa have reached a three-year wage agreement with JSE-listed Harmony Gold. The agreement makes provision for a 6% salary... →
Bush clearing, shaft rehab under way at West Wits gold revival project 
By: Martin Creamer 16th September 2021 Australia-listed West Wits Mining, which is considering a secondary listing on the JSE, has commenced bush clearing and old shaft rehabilitation west of Johannesburg, as part of its far-reaching revival plans for an area where gold mining took place as recently as 20 years ago. West Wits Mining,... →
Ugandan exports plunge 30% as gold shipments are halted over tax
By: Bloomberg 16th September 2021 Ugandan exports plunged in July as a new levy on gold, which vies with coffee as the nation’s leading trade product, halted shipments of the metal. Shipments from the East African nation fell 30% to $300.4-million from a year earlier, the Finance Ministry said in a statement on its website on... →
American Pacific doubles Tuscarora size, reports grades of 21 032 g/t gold
By: Creamer Media Reporter 16th September 2021 Exploration and development company American Pacific Mining on Wednesday announced a transaction that effectively doubles the size of its Tuscarora land package, in Nevada. The company would acquire the assets of project generator Ubica Gold, gaining 77 claims (76 unpatented and one patented) at... →
Nigerian Minister wants death penalty for gold smuggling
By: Bloomberg 16th September 2021 Gold smugglers in Africa’s largest economy deserve the death penalty, Nigeria’s deputy minister in charge of mining development said. Uche Ogah, minister of state for mines and steel development, told lawmakers investigating the alleged loss of $9-billion a year to illegal mining of the precious... →
Saudi Arabia ‘very much open for business’, official tells mining event
By: Creamer Media Reporter 15th September 2021 Saudi Arabia is “very much” open for business, Vice-Minister of Mining Affairs Khalid Al-Mudaifer told the MINExpo International this week, outlining opportunities for investors, explorers, miners and service providers. Saudi has singled out mining to become the third pillar of the country’s... →
Solar power set to reduce Pan African’s reliance on Eskom by 30%
By: Martin Creamer 15th September 2021 The generation of solar power by top-performing gold mining company Pan African Resources is expected to lower reliance on power utility Eskom by 30%, Pan African CEO Cobus Loots said on Wednesday, when the London Aim- and JSE-listed company reported record profit after tax and proposed its... →
i-80 initiates test mining at Granite Creek
By: Mariaan Webb 15th September 2021 Nevada-focused i-80 Gold on Tuesday announced that it had begun an underground test mining programme at its high-grade Granite Creek mine, in Humboldt county, with the goal of making a production decision. Underground drilling and advancements at Granite Creek would be focused on delineating... →
Pan African reports record profit, proposes highest ever dividend
By: Martin Creamer 15th September 2021 Gold mining company Pan African Resources on Wednesday reported record after-tax-profit, higher gold production and proposed its highest ever dividend. In the 12 months to June 30, the company, headed by CEO Cobus Loots, recorded a 12.4% increase in group gold production to 201 777 oz, a 36%... →
Mining companies launch International Mining Safety Hub to help reduce fatalities
By: Creamer Media Reporter 15th September 2021 Various large mining companies have joined hands to launch the International Mining Safety (IMS) Hub – an online hub of industry-endorsed visual safety tools that allow for greater learning opportunities and improved safety for all levels of employees. "This is a collaboration by industry, for... →
GBM raises cash for Twin Hills buy
By: Esmarie Iannucci 15th September 2021 Junior GBM Resources will raise A$7.4-million in a share placement to institutional and sophisticated investors. The company would place some 70-million shares, at a price of 10c each, under its existing placement capacity, while directors Peter Mullens and Peter Rohner have indicated that they... →
Mining production up 10.3% y/y in July
By: Donna Slater 14th September 2021 Statistics South Africa (Stats SA) reports that production from South Africa’s mining industry increased by 10.3% year-on-year in July, with the largest contributors being the production of iron-ore, which was up by 42.9%, contributing 3.9 percentage points to the overall tally. Platinum group... →
South Africa’s junior mining dearth result of unintended consequence – AmaranthCX
By: Martin Creamer 14th September 2021 South Africa’s junior mining dearth is a result of savings no longer flowing through to primary capital raising and stock exchange listings, as the Jacobs Committee expected them to do. The unintended consequence is that there are no longer small investors for small companies. This has negatively... →
DRDGold’s Pretorius highlights rising importance of ESG for miners
By: Marleny Arnoldi 14th September 2021 Gold producer DRDGold CEO Niël Pretorius told investment firm CX Investments in an interview that investors were becoming more supportive of projects that may not necessarily have vast economic upside, but that will deliver in terms of environmental or social value-add. He explained that the... →
Pan African appoints new nonexec director
By: Donna Slater 14th September 2021 Aim- and JSE-listed midtier gold producer Pan African Resources reports that independent nonexecutive director and audit and risk committee chairperson Hester Hickey has resigned with effect from September 16. She will be succeeded by Dawn Earp, subject to the satisfactory completion of certain... →
Incoming Pan African Resources independent nonexecutive director and audit and risk committee chairperson Dawn Earp
Mining industry lost 23 000 jobs between 2012 and 2019 – Stats SA
By: Tasneem Bulbulia 14th September 2021 About 23 000 jobs were lost in the mining sector between 2012 and 2019, a mining industry report compiled by Statistics South Africa (Stats SA) shows. The biggest losses in jobs were recorded in the mining of gold at 42 000 and platinum group metals (PGMs) at 8 000, Stats SA said in a September... →
Gilbertson joins AEX Gold on a full-time basis, new geologists appointed
By: Creamer Media Reporter 14th September 2021 Greenland-focused AEX Gold on Tuesday announced the appointment of James Gilbertson as VP for exploration to oversee the company’s exploration activities. Gilbertson has been working with AEX as a consultant for the past six years and will now join the company on a full-time basis. He was until... →
African Gold Group achieves positive results from trenching at Kobada Est
By: Tasneem Bulbulia 14th September 2021 West Africa-focused gold company African Gold Group has announced positive results from the preliminary trenching programme at its Kobada Est exploration target in southern Mali. The Kobada Est trenching programme was completed in June and consisted of three trenches with a combined length of 260 m. →
Gold CEO sees mid-sized deal potential to ease ‘pain’ in mining
By: Bloomberg 14th September 2021 A number of gold deals have been announced in recent years during the annual industry gathering in Denver, including 2018’s takeover of Randgold Resources. This year, the buzz is focused on consolidation potential among mid-tier producers, according to one precious-metals veteran. “There was a... →
Rainy River’s near-term guidance reduced
By: Creamer Media Reporter 14th September 2021 Canadian miner New Gold has lowered its consolidated gold-equivalent production outlook for 2021, following a reduction in the guidance of the Rainy River mine, in Ontario, where lower-than-modelled gold grades were encountered in July and August. Rainy River’s gold-equivalent production for... →
Artemis feasibility study accelerates Blackwater expansions
By: Creamer Media Reporter 14th September 2021 Canadian gold company Artemis has outlined compelling economics for its Blackwater gold project, in British Columbia, in a newly published feasibility study, which expanded Phase 1 throughput and accelerated the Phase 2 expansion. Phase 1 will now have a throughput of six-million tonnes a year,... →
MAS Gold acquires mine formerly operated by Cameco
By: Creamer Media Reporter 14th September 2021 Canadian minerals explorer MAS Gold has entered into an agreement with the Saskatchewan government to acquire about 463 ha, including the former producing Contact Lake gold mine, in the La Ronge Greenstone Belt. The Contact Lake gold mine was operated from 1994 to 1997 by Cameco. MAS CEO Jim... →
Barrick eyes new mines, not deals, for future growth
By: Reuters 14th September 2021 Barrick Gold CEO Mark Bristow spent years burnishing his reputation as an aggressive dealmaker, but he says now he is focused on new mines that he hopes will boost profit and the company's sagging stock price. The strategy eschews the acquisition appetite that made Barrick what it is today and... →
Metalicity makes a play for JV partner
By: Esmarie Iannucci 14th September 2021 Junior gold explorer Metalicity on Tuesday flagged its intention to make an off-market all scrip takeover bid for all of the fully paid ordinary shares in its joint venture (JV) partner in the Kookynie and Yundamindra gold projects, Nex Metals Exploration. Metalicity’s offer to Nex Metals... →
Work advances at Warrawoona
By: Esmarie Iannucci 14th September 2021 Gold developer Calidus Resources has finalised a A$210-million mining contract with contractor Macmahon for the Warrawoona gold project, in Western Australia. The contract involves the development of a new opencut mine, with Macmahon to undertake all opencut mining activities until December... →
Outlook for metals improves – Moody’s
By: Tasneem Bulbulia 13th September 2021 Credit rating business Moody's Investors Service’s outlook for the global metals and mining industry changed to stable from positive with high prices expected to fade out throughout 2022. In a new report covering iron-ore, steel, coal, aluminium, gold, silver, nickel, copper and zinc, Moody's... →
AngloGold signs definitive agreement to buy out Corvus
By: Marleny Arnoldi 13th September 2021 Global gold miner AngloGold Ashanti has entered into a definitive arrangement agreement to acquire the remaining 80.5% interest in TSX-listed Corvus Gold that it does not already own at C$4.10 a common share in cash. The transaction is valued at about $370-million and implies a total equity... →
DRDGold nears completion of project to achieve better recoveries at FWGR
By: Marleny Arnoldi 13th September 2021 NYSE- and JSE-listed DRDGold says a project to convert the Driefontein 2 Plant (DP2) at the Far West Gold Recoveries (FWGR) surface retreatment operation, in Gauteng, to closed-circuit milling, is nearing completion. The R80-million project will achieve a finer grind and, thereby, improve gold... →
Arkle encounters high-grade gold at Irish project
By: Creamer Media Reporter 13th September 2021 London-listed Arkle Resources has reported significant results from its diamond drilling programme at the Mine River gold project, in Wicklow/Wexford, Ireland, with a high-grade sample of 51.6 g/t. This encounter, in Hole 7, is an “extraordinary find” for the Mine River project. →
OceanaGold’s guidance unchanged despite changes to outlook for NZ mines
By: Mariaan Webb 13th September 2021 Dual-listed OceanaGold on Monday revised the 2021 production guidance for its Macraes and Waihi operations, which were suspended for 15-days in accordance with New Zealand’s Covid-19 restrictions, but said that its consolidated guidance for the year remained unchanged. The group, which also... →
Colombia not liable to pay $736m to miner Eco Oro - govt
By: Reuters 13th September 2021 Colombia's government said on Friday a World Bank tribunal has ruled it is currently not liable to pay $736-million in damages to Eco Oro Minerals after the Canadian mining company alleged that the Andean nation's prohibition on mining in high-altitude wetlands constituted an indirect... →
Pantoro reports maiden resource at Green Lantern
By: Esmarie Iannucci 13th September 2021 ASX-listed Pantoro has reported a mineral resource and reserve estimate for the Green Lantern deposit, at the Scotia mining center, at its Norseman gold project, in Western Australia. A maiden mineral resource estimate of 6.8-million tonnes, grading 1.4 g/t gold has been established, continuing... →
Broadening ESG has provided clear paths to economic benefit – Sibanye-Stillwater
By: Martin Creamer 10th September 2021 Sustainability is not a function of compliance but rather a strategic imperative to change the role that mining plays in society and in economies, says Sibanye-Stillwater senior vice-president and head of sustainability Loyiso Ndlovu. “We do this by sticking to the knitting in being miners, and... →
Katoro advances project portfolio
By: Tasneem Bulbulia 10th September 2021 Despite the ongoing challenges around the Covid-19 pandemic, Aim-listed Katoro Gold says it continued to make significant progress across its project portfolio during the six months ended June 30. During the period, the company raised £960 000 (gross) through a placing and subscription of new... →
World Gold Council members on board for TCFD reporting
By: Marleny Arnoldi 10th September 2021 The World Gold Council (WGC) has announced that all 33 gold miners it represents globally have committed to reporting their positions and progress on climate-related risks, in line with the Task Force on Climate-Related Financial Disclosures (TCFD). The TCFD recommendations and reporting... →
First Mining to earn into properties near Springpole
By: Creamer Media Reporter 10th September 2021 TSX-listed First Mining has entered into an agreement to earn into ALX Resources’ properties near the Springold gold project, in north-western Ontario. Through its subsidiary Gold Canyon Resources, First Mining may earn up to 100% interest in ALX’s Vixen North, Vixen South and Vixen West... →
Biden administration moves to permanently block Pebble as new PEA outlines project's long-term potential
By: Mariaan Webb 10th September 2021 The Biden administration will relaunch a process that could permanently ban the development of the contentious Pebble mine in Alaska’s Bristol Bay watershed, which is home to North America’s most productive salmon fisheries. According to news reports, the Department of Justice asked in an Alaska... →
Amani raises cash for DRC gold
By: Esmarie Iannucci 10th September 2021 Junior gold developer Amani Gold will raise A$7-million through a share placement to sophisticated and professional investors, to fund the development of its Giro gold project, in the Democratic Republic of the Congo. The ASX-listed company on Friday said it had received firm commitments for the... →
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