R/€ = 16.37 Change: -0.08
R/$ = 14.38 Change: -0.05
Au 1414.91 $/oz Change: 30.83
Pt 811.96 $/oz Change: 8.37

Gold News

Rio Tinto starts drilling at Broadway’s Madison

By: Creamer Media Reporter      Updated 3 hours ago Kennecott Exploration, part of the Rio Tinto Group, has started with a drilling campaign at TSX-V-listed Broadway Gold Mining’s Madison copper/gold project, in the Butte region of Montana, in the US. The initial drilling programme consists of three drill holes targeting an area displaying... 

Detour says COO Bourchier tenders resignation

By: Mariaan Webb     Updated 3 hours ago Canadian miner Detour Gold on Monday announced that its COO, Frazer Bourchier, and its VP for investor relations, Laurie Gaborit, had resigned their positions and that they would leave the company at the end of the month. The resignations would cost the gold mining company about C$4.5-million and... 

Chantrell has until Thursday to match Agnico’s offer for Alexandria

By: Creamer Media Reporter      Updated 3 hours ago Toronto-headquartered Chantrell Ventures has until 23:59 on Thursday to amend its offer for junior gold miner and explorer Alexandria Minerals to match that of NYSE- and TSX-listed Agnico Eagle Mines. The board of directors of Alexandria has determined that the Agnico offer – announced nearly two... 

Fosun mulls takeover of $1bn Russian miner GV Gold

By: Bloomberg     Updated 4 hours ago A consortium led by Fosun International is in talks to acquire a majority stake in GV Gold, a Russian gold miner backed by BlackRock, according to people familiar with the matter. Fosun is considering teaming up with partners including Zhaojin Mining Industry for a joint offer, the people said,... 

Capstone restarts Pinto Valley ops

By: Creamer Media Reporter      Updated 4 hours ago The Pinto Valley copper mine, 125 km from Phoenix, Arizona, has been safety restarted, following last week’s fire that led to a curtailment of operations. The mine site did not sustain any physical damage during the Woodbury fire, which by Sunday morning had ballooned to more than 96 000 acres... 

Acacia says ‘strongly disagrees’ with Barrick’s takeover proposal 

By: Simone Liedtke     Updated 7 hours ago LSE-listed Acacia Mining says it “strongly disagrees” with a number of matters set out in a recent announcement by parent company Barrick Gold, adding that the announcement “appears to have ignored the value of [Acacia’s] portfolio of exploration and development assets, and the strategic value of... 

Acacia says ‘strongly disagrees’ with Barrick’s takeover proposal
Photo by Bloomberg
Barrick Gold CEO Mark Bristow

Gold gains to near highest since 2013 as bulls ‘back in control’

By: Bloomberg     24th June 2019 Gold’s bullish momentum has rolled into a new week. Prices extended their advance above $1 400/oz, near the highest level since September 2013, after the Federal Reserve and other central banks turned more dovish on monetary policy.  

Gold gains to near highest since 2013 as bulls ‘back in control’

Kefi starts fieldwork at Saudi Arabia project

By: Simone Liedtke     21st June 2019 Aim-listed Kefi Minerals on Friday reported that fieldwork had started at its Hawiah exploration licence, in Saudi Arabia. The fieldwork began with a modest cost but a potentially high-impact induced polarisation and resistivity geophysical survey aimed at better defining the large volcanogenic... 

SolGold jumps in London as Ecuador referendum is rejected

By: Mariaan Webb     21st June 2019 Copper/gold developer Solgold traded 22% higher on the London Stock Exchange on Friday, following news that the Constitutional Court in Ecuador had dismissed a petition for a mining referendum that would have affected its Cascabel project. It is understood that the court rejected the petition on... 

SolGold jumps in London as Ecuador referendum is rejected

Havilah changes name to 1911 Gold

By: Creamer Media Reporter      21st June 2019 Gold junior Havilah Gold is changing its name to 1911 Gold and will trade on the TSX-V under its new name and trading symbol from Monday. President and CEO Ron Clayton says the change of name to 1911 Gold “more accurately reflects the focus and strategy of the company, while remembering the... 

Middle Island extends Alto takeover offer period to August

By: Marleny Arnoldi     21st June 2019 ASX-listed Middle Island Resources (MDI) has extended the offer period for its off-market takeover offer to acquire 100% of fellow-listed Alto Metals to August 2. MDI first announced its intention to acquire all the Alto shares that it did not own on April 10.  

Sandfire replaces ore reserves at DeGrussa

By: Creamer Media Reporter      21st June 2019 An updated ore reserve for the DeGrussa mine, in Western Australia, has extended the copper/gold operation’s mine life to mid-2022, ASX-listed Sandfire Resources reported on Friday. The company’s latest reserve and mineral resource update for DeGrussa includes the Conductor 1, Conductor 4 and... 

Real-time data playing bigger maintenance role

By: Tracy Hancock     21st June 2019 As the world gears up for the Fourth Industrial Revolution, African mines are embracing real-time information management systems to plug the gap left by the shortage of competent maintenance supervisors and mining equipment operators, Mining Equipment Manufacturers of South Africa CEO Ossie... 

Real-time data playing bigger maintenance role
Photo by Creamer Media
BIG DEAL The decision to buy a piece of equipment should always include maintenance elements

Proactive maintenance saves mines reactive costs

By: Tracy Hancock     21st June 2019 US condition-based monitoring device supplier SpotSee is in the process of obtaining certification in Africa for its Wi-Fi radio, which enables its OpsWatch vibration monitoring system to stream condition-based data to central operations through a Web-hosted platform. The system can detect... 

Proactive maintenance saves mines reactive costs
DON’T BE REACTIVE Having measures in place to predict pending failures, enables mining companies to be proactive and stay ahead of problems instead of waiting to react and, as a result, spending capital to solve them

New platform answers call for condition based maintenance, asset optimisation

By: Tracy Hancock     21st June 2019 The immense pressure to achieve production targets occasionally means that maintenance practices are difficult to implement in the mining industry and are often time based. Therefore, mines are looking for solutions to improve maintenance management, says Finnish industrial machinery company... 

New platform answers  call for condition  based maintenance,  asset optimisation
ADVANCING MAINTENANCE Through Metso Metrics, mining companies can expect lower overall maintenance costs

SA mining adopting, driving 4IR as its transformation journey continues

By: Natasha Odendaal     21st June 2019 The mining industry in South Africa is continuing its transformation journey as it adjusts to the ever-increasing pace of the prevailing technological revolution, with the 100-plus-year-old industry, steeped in tradition and at times crisis, seeking out new ways of adapting to this era of change.... 

SA mining adopting, driving 4IR as its transformation journey continues

Capstone curtails Pinto Valley activities owing to wildfire

By: Creamer Media Reporter      20th June 2019 A wildfire that is burning near the westernmost property boundary of the Pinto Valley mine has led to owner Capstone Mining curtailing nonessential activities at the mine. The TSX-listed miner said, at the time of sending out its news release at 15:30 EST, that the wildfire had no physical... 

Court dismisses Ecuador mining referendum petition

By: Mariaan Webb     20th June 2019 The share prices of SolGold and Cornerstone Capital Resources rose sharply in Canada on Thursday afternoon, following an announcement that the Ecuador mining referendum petition had been dismissed. TSX-V-listed Cornerstone, which is a partner in the significant Cascabel copper/gold project with... 

Court dismisses Ecuador mining referendum petition

China National Gold studies bid for Canadian miner Iamgold

By: Bloomberg     20th June 2019 China National Gold Group, the nation’s second-biggest miner of the metal, is studying a bid for a stake in Canada’s Iamgold, people familiar with the matter said. Iamgold shares jumped the most in more than four years. The state-owned gold miner is working with financial advisers on the... 

Bauhinia Creek Phase 2 drilling intersects high-grade mineralisation

By: Tasneem Bulbulia     20th June 2019 East Africa-focused gold producer Shanta Gold has intersected high-grade mineralisation over significant widths during the second phase of its Bauhinia Creek (BC) drilling campaign at the New Luika gold mine (NLGM) in Tanzania. This provided further evidence of the continuity of the orebody to... 

Petropavlovsk reports strong interest in bond offering

By: Creamer Media Reporter      20th June 2019 Russian gold mining company Petropavlovsk on Thursday announced a new $125-million convertible bond to refinance an existing short-term $100-million bond with a coupon of 9%, using a long-dated instrument at a lower cost. CEO Pavel Maslovskiy said in a statement that the new bond offering had... 

Endeavour Mining has a new CFO

By: Creamer Media Reporter      20th June 2019 Intermediate gold miner Endeavour Mining has appointed Anglo American base metals executive Louis Irvine as CFO, succeeding Vincent Benoit, who is rejoining Endeavour’s main shareholder, La Mancha Group, on August 1. Immediately prior to joining Endeavour, Irvine was executive head of strategy... 

Commissioning starts at Juardi

By: Esmarie Iannucci     20th June 2019 Commissioning has started at the Juardi gold project, in Western Australia, with full production targeted for the fourth quarter of this year. ASX-listed Beacon Minerals on Thursday said that the A$21.4-million project was expected to recover some 126 000 oz of gold over a five-year mine life,... 

MACA supports Blackham expansion plans

By: Esmarie Iannucci     20th June 2019 Integrated service contractor MACA will provide gold miner Blackham Resources with a A$12-million working capital facility to progress its transition to the Stage 1 expansion sulphide development at its Western Australian operations. Under the agreement, MACA will provide Blackham with working... 

Cyanide-free leaching technology launches

By: Esmarie Iannucci     20th June 2019 The Commonwealth Scientific and Industrial Research Organisation (CSIRO) has licensed Perth-based Clean Mining to sell and distribute a new cyanide-free gold processing technology. The technology was developed over more than a decade by the CSIRO and replaces cyanide with a safer, less hazardous... 

VGSA, Flaming Silver court case postponed until next month

By: Simone Liedtke     20th June 2019 A court case between Flaming Silver and Vantage Goldfields South Africa (VGSA) has been postponed until July 9 on request of Flaming Silver subsequent to an application for leave to amend the intervention application brought by former Flaming Silver director Ferdi Dippenaar. The postponement,... 

Resolute Mining determined to grow as adds London listing

By: Reuters     20th June 2019 Australian-listed gold miner Resolute Mining lists on the London Stock Exchange on Thursday to broaden its investor base and pursue its ambition to be a high-tech, pan-African gold producer, partly through acquisitions. New listings have been scant in London, where uncertainty over Britain's... 

Gold spikes to more than 5-year high as Fed signals ready to cut 

By: Bloomberg     20th June 2019 Gold jumped to the highest in more than five years after the US Federal Reserve indicated a readiness to cut interest rates and the dollar tumbled. Gold had a lackluster start to the year but gained momentum this month as investors sought havens amid slowing global growth due to the fallout from... 

Gold spikes to more than 5-year high as Fed signals ready to cut

Ignored by big banks, smaller gold miners are paying more to expand

By: Bloomberg     20th June 2019 The cost of money is rising for small and mid-sized gold miners. Newmont Goldcorp and Barrick Gold, the biggest producers, have grown even bigger by buying up peers, shaping themselves as strong candidates for commercial bank lending. Meanwhile, smaller companies struggling to meet deadlines and... 

African Battery Metals increases shareholding in Katoro Gold

By: Simone Liedtke     20th June 2019 Aim-listed African Battery Metals (ABM) has confirmed the completion of its investment and option agreement with fellow Aim-listed Katoro Gold. ABM in May exercised an option to acquire shares and warrants in Katoro and a direct project holding in the Haneti nickel project in Tanzania. 

Northern Dynasty secures interim financing for Pebble

By: Mariaan Webb     19th June 2019 TSX-listed Northern Dynasty on Wednesday announced that it had secured interim financing to continue with its objective of securing a positive record of decision in the Pebble environmental impact assessment, while negotiations were “actively” ongoing for more substantial and long-term financing... 

Monarch Gold sells 2% NSR royalty on Chimo

By: Tasneem Bulbulia     19th June 2019 Emerging gold mining company Monarch Gold’s wholly-owned subsidiary Louvem Mines has sold a 2% net smelter return (NSR) royalty on certain claims of the Chimo mine property to TSX-V-listed Cartier Resources for $350 000. Monarch acquired Louvem as part of the acquisition of Richmont Mines’ Quebec... 

Nordgold to acquire Guyana gold project

By: Simone Liedtke     19th June 2019 Diversified gold miner Nordgold has entered into an option agreement with ASX-listed Alicanto Minerals for the exclusive right to acquire a 100% interest in the Arakaka gold project, in Guyana. Under the terms of the agreement, Nordgold will have an option to acquire a 100% interest in the... 

Morocco’s Managem increases stake in Guinea’s Tri-K gold project to 85%

By: Reuters     19th June 2019 Morocco’s leading mining firm Managem said on Tuesday it increased its stake in the Tri-K gold project in eastern Guinea Conakry to 85% after acquiring a 30% stake held by its partner Avocet Mining for $21-million. The acquisition is in line with the group’s strategy to boost its gold production... 

Monarch Gold swoops on ‘undervalued’ asset

By: Creamer Media Reporter      19th June 2019 Emerging gold miner Monarch Gold has signed a binding letter of intent for the acquisition of the Fayolle property from Hecla Quebec, formerly known as Aurizon Mines (Hecla), and Typhoon Exploration. The Fayolle property consists of 39 claims, covering an area of 1 373 ha in the Aiguebelle and... 

Delay forces adjustment of Gruyere output

By: Esmarie Iannucci     19th June 2019 Gold production expectations from the Gruyere joint venture (JV), in Western Australia, have been downgraded for the 2019 calendar year, on the back of a delay to the completion of the plant construction and commissioning. JV partners Gold Road Resources and Gold Fields on Wednesday reported... 

Gold Fields spends A$112m on micro-grid at Agnew

By: Esmarie Iannucci     19th June 2019 Gold miner Gold Fields on Wednesday announced a A$112-million investment into an energy micro-grid combining wind, solar, gas and battery storage at its Agnew mine, in Western Australia. The Australian Renewable Energy Agency (Arena) will contribute A$13.5-million in funding for the micro-grid,... 

Gold Fields spends A$112m on micro-grid at Agnew

Seabridge mobilises crews for new KSM targets, follow up drilling

By: Creamer Media Reporter      19th June 2019 Canadian gold and copper company Seabridge Gold has mobilised new crews to the KSM project, in north-western British Columbia, for a three-part programme aimed at improving its understanding of the project and its district scale potential. The programme aims to evaluate the potential for... 

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