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Gold News

CEO of sanctions-hit gold miner Nordgold steps down

By: Reuters     22nd June 2022 Russia-focused gold producer Nord Gold (Nordgold), which has been hit by harsh U.S. sanctions, said on Tuesday that its CE Nikolai Zelenski had stepped down from the company on June 17 to pursue personal investment opportunities. "There has been no decision on a new CEO appointment. The company... 

St Barbara reviews Simberi, warns of delays in Canada

By: Esmarie Iannucci     22nd June 2022 Gold miner St Barbara has announced a strategic review of its Simberi operations, in Papua New Guinea, and has decided to defer a final investment decision on the sulphide expansion project as project costs balloon. The company has also announced a corporate restructure that would see its... 

Firefinch spin-off Leo Lithium to start trading on ASX on June 23

By: Donna Slater     21st June 2022 ASX-listed gold miner Firefinch reports that Leo Lithium has been admitted to the official ASX list and trading in its shares will start on June 23, under the code LLL. This follows an oversubscribed A$100-million initial public offering by Leo Lithium in May.  

Hamak reports strong gold exploration results in Liberia

By: Darren Parker     21st June 2022 LSE-listed Hamak Gold has announced positive gold exploration results from the first grid block soil sampling at its 985.60 km2 Nimba licence, which is located in northern Liberia, 25 km west of competitor Endeavour Mining’s three-million-ounce Ity gold mine complex in neighbouring Côte d’Ivoire... 

Hamak executive director Karl Smithson
Hamak executive director Karl Smithson

India’s gold recycling industry buoyed by strong demand

By: Darren Parker     21st June 2022 Market development organisation the World Gold Council (WGC) says India’s gold demand continues to outpace domestic mine supply and is showing no signs of abating, which has bolstered the country’s gold recycling capability to make up some of the shortfall. The rest of the country’s demand is met... 

indian woman with gold head dress

Pasofino Gold gets new CEO

By: Mariaan Webb     21st June 2022 Canada-based exploration company Pasofino Gold, which is earning a 49% interest in the Dugbe gold project in Liberia, has appointed a new CEO. The company announced on Monday that Daniel Limpitlaw has replaced Ian Stalker as president and CEO with immediate effect. 

First gold from Alamos’ La Yaqui Grande mine

By: Mariaan Webb     20th June 2022 Canada-based Alamos Gold has announced initial gold production from the La Yaqui Grande mine, in Mexico, following the completion of construction this month. Stacking rates continue to ramp up with leaching activities beginning earlier in June.   

Horizon divests of another non-asset

By: Esmarie Iannucci     20th June 2022 Gold developer Horizon Minerals has reached an agreement with FMR Investments to divest of its Gunga West gold project, in Western Australia. Gunga West was acquired in 2019 as part of a larger asset swap with gold miner Northern Star Resources, and included the Rose Hill, Brilliant North and... 

Kore CEO steps down to cut costs

By: Mariaan Webb     20th June 2022 TSX-V-listed precious metals explorer Kore Mining, which owns assets in California, US, on Friday unveiled a reorganisation plan to conserve capital, which would see CEO Scott Trebilcock step down as president and CEO on July 1. Trebilcock would remain a director of Kore and would be a... 

Green hydrogen’s business case significantly strengthened, summit hears 

By: Martin Creamer     17th June 2022 Green hydrogen, when earlier identified as a necessary clean energy source to help the world achieve net-zero emissions in the coming decades, was higher up the cost curve than fossil fuels. Now that has changed with this week’s Financial Times Hydrogen Summit emphasising that green hydrogen’s... 

Creamer Media screenshot
FT Hydrogen Summit panel discussion.

Goldplat awarded water-use licence for new tailings facility

By: Marleny Arnoldi     17th June 2022 Aim-listed gold recovery company Goldplat has been granted a new 12-year water use licence (WUL) for its operations in South Africa. The new WUL includes stipulations on the abstraction and use of water in Goldplat’s recovery processes, as well as the impact of its new tailings storage facility... 

Okvau marks major milestone - Emerald

By: Esmarie Iannucci     17th June 2022 Junior Emerald Resources has poured over 3 000 kg of gold bullion from its Okvau gold mine, in Cambodia, since commercial production started in September 2021. “The board and management of Emerald are very pleased with the achievement of this significant 3 000 kg gold bullion milestone at our... 

Shanta awarded mining licence for another Lupa Gold Fields prospect

By: Marleny Arnoldi     17th June 2022 Aim-listed Shanta Gold has been awarded a mining licence for the Porcupine South area within the Lupa Gold Fields of Tanzania. The orebody, which the company discovered in 2020, is located 22 km from its New Luika processing plant. The mining licence, including extendable periods, spans 30 years. 

Dacian halts mining at Mt Morgans

By: Esmarie Iannucci     17th June 2022 Gold miner Dacian Gold on Friday announced plans to suspend openpit mining operations at the Jupiter deposit, at its Mt Morgans mine, in Western Australia, while also announcing the resignation of MD Leigh Junk. Dacian told shareholders that the rapid change of the operating environment over... 

Image shows a molten gold bar

Nature’s Vault offers investors a ‘green’ gold option

By: Schalk Burger     17th June 2022 About 3 000 t of gold are mined each year, of which 50% goes directly into bank vaults. Environmental, social and governance finance company Nature's Vault aims to keep gold in the ground, thereby avoiding the carbon emissions and environmental impact of mining, while providing investors with... 

Nature's Vault CEO Phil Rickard
Nature's Vault CEO Phil Rickard

Gold’s floor price is getting higher, Newmont's Palmer says

By: Bloomberg     16th June 2022 st gold producer isn’t about to join bullion bugs in predicting a price rally. But Tom Palmer does see a higher floor forming under the market as years of stimulus devolve into a fight to contain inflation. As global markets wilt on fears of stagflation, gold has stayed relatively resilient... 

An image of Newmont CEO Tom Palmer speaking at the Prospectors & Developers Association of Canada conference in Toronto, Canada, this week.
Newmont CEO Tom Palmer speaking at the Prospectors & Developers Association of Canada conference in Toronto, Canada, this week.

Oriole reports positive drilling results at Bibemi in Cameroon

By: Tasneem Bulbulia     15th June 2022 Aim-listed Oriole Resources has provided an exploration update on its 90%-owned Bibemi gold project in Cameroon, with the first two holes of the ongoing Phase 4 diamond drilling programme confirming the existence of mineralised sub-horizontal quartz veins between the previously defined... 

ESG provides profitable returns from smart capital allocation – analyst

By: Martin Creamer     15th June 2022 Environmental, social and governance (ESG) frameworks not only help businesses and the communities in which they operate but can also generate positive returns as mining companies reduce operating expenses and receive favourable investor interest and cheaper finance. When it comes to ESG, the... 

Picture supplied.
Nedbank mining equity analyst Arnold van Graan.

Kefi advances Tulu Kapi project in anticipation of full project construction after October

By: Donna Slater     15th June 2022 Aim-listed gold and copper explorer and developer Kefi Minerals remains on track with the development of multi-party project financing activities and the early development works of its Tulu Kapi Gold Mines Share Company joint venture project in Ethiopia. Kefi has maintained the full funding... 

Kinross sells Russian assets at half the previously agreed price

By: Mariaan Webb     15th June 2022 Canada’s Kinross Gold on Wednesday announced that it had completed the sale of its Russian assets, but at only half the price previously agreed with Highland Gold Mining group. The company sold its Russian assets for $340-million, compared with the $680-million previously announced. Kinross... 

Kinross sells Russian assets at half the previously agreed price

Arc Minerals starts two-part exploration programme in Botswana

By: Marleny Arnoldi     15th June 2022 London-listed Arc Minerals has started a maiden exploration programme at the prospective Virgo copper/gold project, in Botswana. The first step of the programme involves soil geochemistry surveying, which will be followed by drilling.  

Marathon receives mining leases for Valentine

By: Creamer Media Reporter      15th June 2022 Toronto-listed Marathon Gold has received mining leases for the Valentine gold project, in central Newfoundland. The leases cover the development of the Marathon and Leprechaun deposits and have a term of 20 years. 

Laneway restarts activities at Agate Creek

By: Esmarie Iannucci     15th June 2022 ASX-listed Laneway Resources has restarted mining activities at the Agate Creek project, in Queensland, with drill and blast operations under way. Production grade control sampling, assaying and blasting has started, with the first production blast for 2022 fired last Friday. The mining fleet is... 

Northern Star completes Paulsens and Western Tanami sale

By: Esmarie Iannucci     15th June 2022 Gold miner Northern Star Resources has completed the sale of the Paulsens and Western Tanami gold projects, to fellow-listed Black Cat Syndicate, for A$44.5-million. Under the terms of the agreement struck in April, Northern Star was paid A$14.5-million in cash for the assets, and would be... 

Offer for DGO declared unconditional

By: Esmarie Iannucci     15th June 2022 Gold miner Gold Road Resources' takeover offer for fellow-listed DGO Gold has been declared unconditional after the company obtained an 83.35% relevant interest in the takeover target. Gold Road recently increased its takeover offer for fellow listed DGO from 2.16 Gold Road shares to 2.25 Gold... 

Team up or get left behind, top gold miner warns smaller peers

By: Bloomberg     15th June 2022 The gold mining industry will need more mergers and partnerships to dig up harder-to-access deposits in an environmentally friendly way, according to the head of the world’s biggest producer. “We are seeing fewer and fewer large-scale and transformative gold discoveries,” Newmont CEO Tom Palmer... 

An image of Newmont CEO Tom Palmer
Newmont CEO Tom Palmer

Harmony secures govt approvals for Kareerand expansion project

By: Marleny Arnoldi     14th June 2022 Gold miner Harmony Gold Mining Company has obtained key regulatory approvals for its Kareerand expansion project, enabling it to continue with the retreatment of surface deposits at Mine Waste Solutions (MWS). Harmony acquired the MWS reclamation operation, near Stilfontein, in North West, in... 

Hummingbird confirms positive metrics in Dugbe feasibility study

By: Marleny Arnoldi     14th June 2022 Aim-listed Hummingbird Resources has confirmed strong financial metrics for the Dugbe gold project, in Liberia, in a feasibility study released by project partner TSX-V-listed Pasofino Gold on June 13. The study estimates a net present value after tax of $530-million and a 23.6% internal rate... 

Dugbe project n progress
Dugbe project n progress

Long-tenured Novagold director passes away

By: Creamer Media Reporter      14th June 2022 Canadian junior Novagold said on Tuesday that long-tenured director Igor Levental had passed away suddenly and unexpectedly on June 10. Levental served as an independent director of the company, which is focused on the Donlin Gold project in Alaska, since 2010. Over the past 12 years, he shared... 

Treasury gazettes new VAT regulations for valuable metal vendors

By: Darren Parker     14th June 2022 The National Treasury this week gazetted the Regulations on Domestic Reverse Charge Relating to Valuable Metal, which is meant to serve as an anti-abuse measure aimed at foreclosing schemes and malpractices to claim undue value-added tax (VAT) refunds from the South African Revenue Service (Sars)... 

Alamos announces GHG emissions reductions target

By: Creamer Media Reporter      14th June 2022 Canadian intermediate miner Alamos Gold will aim to reduce absolute greenhouse gas (GHG) emissions by 30% by 2030, from the 2020/21 average baseline year. This includes Scope 1 and Scope 2 emissions. The company, which operates three mines in North America, notes that its GHG emissions intensity... 

Harmony employees contribute R1m worth of donations in response to KNZ flood disasters

By: Yvonne Silaule     14th June 2022 Employees at Harmony Gold's operations, in the Free State, have pledged R1-million worth of donations to the KwaZulu-Natal government in response to the recent floods that left over 7 600 people homeless. The donations included 200 mattresses, 283 blankets, 130 pillows, 242 fitted sheets,... 

Shanta inks $20m Stanbic loan, lifts New Luika production by 45%

By: Donna Slater     13th June 2022 East Africa-focused gold producer, developer and explorer Shanta Gold has signed binding definitive documents with Stanbic Bank Tanzania for a $20-million loan facility to accelerate the growth of the company’s portfolio. Shanta CEO Eric Zurrin says the signing of the four-year $20-million... 

Orla moves into Nevada with C$242m acquisition

By: Mariaan Webb     13th June 2022 Toronto-listed Orla Mining on Monday announced the C$242-million acquisition of fellow-listed Gold Standard Ventures, which would see the company expand into Nevada. Gold Standard’s key asset is the South Railroad project, a feasibility-stage, openpit heap-leach project located on the prolific... 

Sibanye to restart South African gold mines in a phased manner

By: Marleny Arnoldi     13th June 2022 JSE- and NYSE-listed Sibanye-Stillwater will restart its South African gold operations in a phased manner over the next two to three months, in order to ensure the safety of the operations and employees. This follows after it and unions the Association of Mineworkers and Construction Union... 

Gold

Transition Metals hoping to find partners for 10 projects at PDAC

By: Creamer Media Reporter      13th June 2022 Multi-commodity project generator Transition Metals is hoping to find business arrangements for ten of its projects at the Prospectors and Developers of Canada (PDAC) conference in Toronto, which starts on Monday. The projects on offer boast gold, nickel, copper, platinum group metals, copper... 

Agnico Eagle recommends rejection of below-market mini-tender

By: Creamer Media Reporter      13th June 2022 Canadian gold mining company Agnico Eagle Mines has told shareholders to reject an unsolicited mini-tender offer made by TRC Capital Investment. The mini-tender offer is to purchase up to two-million Agnico Eagle common shares, or about 0.44% of the company’s outstanding common stock, at a price... 

Bellevue's economics secure

By: Esmarie Iannucci     13th June 2022 Gold developer Bellevue Gold has told shareholders that its namesake project, in Western Australia, would boast some of the lowest operating costs among ASX-listed gold producers, and that the project is on track to be a 200 000 oz/y producer by the end of the second half of next year. Bellevue... 

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