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Gold News

Barrick Gold Q1 profit surges, sees higher output ahead

By: Reuters     5th May 2021 Barrick Gold reported a 78% rise in first-quarter profit on Wednesday helped by rising gold and copper prices, and said it was on track to meet annual guidance. Copper prices have gained on the back of massive economic stimulus while gold has moved higher as a hedge against inflation. 

New LoM plan affirms Morila as profitable, long-life mining operation

By: Mariaan Webb     5th May 2021 Australian miner Firefinch on Wednesday announced the outcome of its life-of-mine (LoM) plan for the Morila gold mine, in Mali, stating that the mine it bought from Barrick and AngloGold Ashanti last year still had a long life ahead of it. Morila, which has been producing gold continuously for... 

New LoM plan affirms Morila as profitable, long-life mining operation

Brightstar mill refurbishment to cost A$5.5m

By: Mariaan Webb     5th May 2021 Emerging gold miner Brightstar Resources has shared details about the cost estimates for the refurbishment of its namesake processing plant, near Laverton, in Western Australia. The company, which received an independent cost estimate from Como Engineers, said on Tuesday that it would cost... 

Barrick shareholders approve $750m return of capital distribution

By: Creamer Media Reporter      5th May 2021 The shareholders of Barrick Gold have voted in favour of the board’s proposed $750-million return of capital distribution at Monday’s virtual annual and special meeting. More than 90% of the shares voted also approved resolutions on the election of directors and Barrick’s approach to executive... 

Gold Fields board approves R660m construction of 40 MW solar plant at South Deep 

By: Creamer Media Reporter      5th May 2021 JSE- and NYSE-listed Gold Fields' board has approved the construction of a 40 MW solar plant at the South Deep mine at an estimated capital cost of R660-million. This follows the granting of a licence for the project by the National Energy Regulator of South Africa on February 25. 

Gold Fields board approves R660m construction of 40 MW solar plant at South Deep
Gold Fields South Africa executive VP Martin Preece talks about the benefits of the 40 MW solar plant to be built at the South Deep mine.

Drilling continues to bolster Kirkland Lake confidence in Detour Lake

By: Creamer Media Reporter      5th May 2021 Bullion miner Kirkland Lake Gold is continuing to have a great deal of success drilling at the Detour Lake mine, in Ontario, Canada, with the fifth batch of results from the recently announced 270 000 m exploration programme increasing its confidence in the asset. The drilling programme aims to... 

Drilling continues to bolster Kirkland Lake confidence in Detour Lake

Pretivm maintains guidance despite Q1 Covid outbreak

By: Mariaan Webb     5th May 2021 British Columbia miner Pretium Resources (Pretivm) will achieve its 2021 operation and financial guidance, despite the near-five-week Covid-19 outbreak that occurred at its Brucejack mine. Operations were maintained throughout the novel coronavirus outbreak, although mining, milling and other... 

Pretivm maintains guidance despite Q1 Covid outbreak

Report demonstrates technical, economic viability of Blyvoor Gold tailings project

By: Marleny Arnoldi     4th May 2021 Aim-listed Katoro Gold has announced positive results emanating from a comprehensive Competent Person’s Report (CPR) on the results of technical and financial work conducted on the Blyvoor Gold tailings project. The additional technical and financial work on the project was in response to... 

Appetite for renewables remains strong, despite economic uncertainties

By: Simone Liedtke     4th May 2021 Despite ongoing economic uncertainties globally, investor appetite for renewables remains strong, with optioned renewable capacity increasing by 15% year-on-year in the nine months from January through to October 2020, compared with the same period the previous year. This sets a new record, juwi... 

Vast appoints Romanian country manager

By: Creamer Media Reporter      4th May 2021 London-listed mining company Vast Resources has appointed Nicolae Turdean as Romanian country manager to work alongside the newly appointed management team at the Baita Plai polymetallic mine and in conjunction with the CEO in the advancement of the company’s wider strategic objectives in the... 

Galiano buys Mali exploration assets from Barrick

By: Mariaan Webb     4th May 2021 Toronto-listed Galiano Gold on Monday announced that it had acquired ABG Mali Exploration from a subsidiary of major miner Barrick Gold for $1.5-million. The property, in south-west Mali near the Senegal border, covers 167 km2 and includes four exploration licences. 

EPC contracts for Sukari solar project awarded

By: Simone Liedtke     4th May 2021 Gold miner Centamin has awarded engineering, procurement and construction (EPC) contracts for its 36 MW solar farm and 7.5 MW battery-energy storage system at the Sukari gold mine, in Egypt, to renewable energy specialist juwi Renewables and systems integrator company Giza Systems. juwi has been... 

EPC contracts for Sukari solar project awarded
The Sukari mine site, in Egypt

Mongolia threatens to cancel Oyu Tolgoi investment agreement unless tax claim is dismissed

By: Mariaan Webb     4th May 2021 Mongolia has threatened to declare the 2009 Oyu Tolgoi copper/gold mine investment agreement void, unless the international tax arbitration proceedings brought against the government are dismissed in their entirety. This is according to Canada-based Turquoise Hill, which holds 66% of Oyu Tolgoi... 

Mongolia threatens to cancel Oyu Tolgoi investment agreement unless tax claim is dismissed

Golden Predator’s Viva Gold deal terminated

By: Mariaan Webb     3rd May 2021 Juniors Golden Predator Mining and Viva Gold on Monday announced that they have terminated an agreement whereby Golden Predator would have bought Viva Gold. The termination was mutually agreed, the companies said in a statement, without divulging more information. 

Gold Mountain to begin construction of BC gold/silver project

By: Creamer Media Reporter      3rd May 2021 British Columbia-based explorer and developer Gold Mountain is set to begin construction at its Elk Gold project, near Merritt, British Columbia, this month, following authorisation last week to put the gold and silver mine back into production. The company has received a notice of departure... 

More ounces added at Morila

By: Esmarie Iannucci     3rd May 2021 Gold miner Firefinch has increased the global mineral resource at its Morila project, in Mali, to 2.43-million ounces of contained gold, following mineral resource estimates for a number of satellite deposits. The ASX-listed company has increased the mineral resource estimate for its satellites... 

Barrick refers Senegal tax dispute to arbitration

By: Creamer Media Reporter      3rd May 2021 Canadian bullion major Barrick Gold has confirmed a tax claim by the Senegalese Revenue Authority (SRA) to the International Chamber of Commerce (ICC) for arbitration. The SRA has levied an unaudited assessment totalling $208-million for taxes it claims arose from Barrick’s sale of its interest... 

Antilles raises cash for Cuban gold

By: Esmarie Iannucci     3rd May 2021 Junior Antilles Gold will raise A$3.2-million in a one-for-four renounceable rights issue, to further fund exploration work at its La Demajagua gold/silver project, in Cuba. The rights issue will be priced at 6.5c a share, representing a 32% discount to Antilles’ last closing price, and a 30%... 

Canada's Agnico says Nunavut hearings delayed amid rise in Covid-19 cases

By: Reuters     30th April 2021 Canada's Arctic territory Nunavut has delayed public hearings about a key water disposal project at Agnico Eagle Mines' Meliadine gold mine, a company executive said on Friday, as the region grapples with a new wave of coronavirus. The mineral-rich territory extended a public health emergency to... 

Canada's Agnico says Nunavut hearings delayed amid rise in Covid-19 cases

Gold Fields ramping up climate change mitigation measures 

By: Donna Slater     30th April 2021 Gold miner Gold Fields derived 5% of its group electricity from renewable sources in 2020. It plans to further ramp this up in the coming years, its 2020 Climate Change Report shows. At its Agnew operation, in Australia, the miner derived 57% of its electricity from renewable sources, mostly... 

First ever Shanghai Platinum Week to be held next month

By: Simone Liedtke     30th April 2021 To develop a stronger domestic platinum-group metals (PGMs) market and to improve domestic and international communication and cooperation, the Precious Metal Industrial Committee at the China Material Recycle Association (PMIC), the Platinum Committee at China Gold Association (PDCGA) and the... 

Russia's Polyus becomes world's largest gold miner by reserves

By: Reuters     30th April 2021 Russia's largest gold producer Polyus on Thursday said that its total proved and probable ore reserves had risen by 71% to 104-million troy ounces of gold at the end of 2020 due to inclusion of reserves at its giant Sukhoi Log deposit. "Polyus is now confirmed to have the largest reserve base... 

Mali's unmined gold reserves hold steady on new discoveries

By: Reuters     30th April 2021 Gold discoveries in Mali offset production last year, holding the West African country's estimated gold reserves at about 703 tonnes, or around 12 years of output at current production levels, the Mines Ministry said on Thursday. Mali is Africa's fourth-largest gold producer after South Africa,... 

Partners ready for mining at Burbanks

By: Esmarie Iannucci     30th April 2021 Mining at the Burbanks gold project, in Western Australia, is expected to start shortly, with infrastructure site works completed to facilitate portal and decline development, ASX-listed Barra Resources said on Friday. “This is an exciting milestone for Barra. We can now start to unlock the... 

OceanaGold revenues rise on higher gold price

By: Esmarie Iannucci     30th April 2021 Dual listed gold miner OceanaGold has reported a slight increase in gold production for the first quarter ended March, compared with the previous corresponding period. Group gold production in the March quarter reached 83 200 oz, up from the 80 700 oz produced in the previous corresponding... 

De Beers overtakes Newmont to lead ESG ranking of global miners

By: Bloomberg     30th April 2021 The world’s biggest diamond producer may not be the first name that comes to mind in a ranking of top ESG performers. But that’s what the latest industry survey revealed. De Beers scored the highest in London-based Alva’s quarterly rating of environmental, social and governance perceptions this... 

De Beers overtakes Newmont to lead ESG ranking of global miners

Tanzania gold refinery starts producing in drive to boost gold revenues 

By: Reuters     30th April 2021 A new gold refinery set to be the biggest in Tanzania has begun production in a step towards the government's aim of processing more of the precious metal domestically. Africa's fourth-biggest gold producer and home to industrial gold mines run by Barrick, AngloGold Ashanti and others, Tanzania... 

Miner’s plans bolstered by positive gold market

30th April 2021 Dual-listed major Gold Fields’ subsidiary Gold Fields Ghana (GFG) is always seeking opportunities to expand its portfolio within the West Africa region, explains  Gold Fields executive VP and West Africa head Alfred Baku. “Gold has performed very well on the global market since 2020, which could,... 

Miner’s plans bolstered by positive gold market
ALFRED BAKU Gold Fields is optimistic that Tarkwa, Damang and Asanko will not experience any material interruptions in 2021

Kinross redeems $500m senior notes

By: Marleny Arnoldi     29th April 2021 TSX- and NYSE-listed gold miner Kinross Gold has announced it will redeem all of its outstanding senior notes due September 1 this year, which amount to $500-million. The redemption date has been set for June 1.  

Newmont delivers solid first quarter results

By: Tasneem Bulbulia     29th April 2021 The world’s largest gold miner Newmont Corporation produced 1.5-million attributable ounces of gold and 317 000 attributable gold-equivalent ounces from co-products for the first quarter of this year. Newmont’s portfolio of assets and prospects and talent is anchored in mining jurisdictions in... 

Canadian First Nation, with rare sway over mining, puts Newmont on notice

By: Reuters     29th April 2021 A First Nation group in Canada's British Columbia province has put top gold miner Newmont Corp on notice that it is unlikely to gain buy-in for a gold and copper project, amid concern that mining will encroach on a local town. The pushback by the Tahltan First Nation carries extra weight due to... 

Renewables now represent 100% of Polyus group’s energy consumption

By: Tasneem Bulbulia     29th April 2021 London-listed Polyus has acquired International Renewable Energy Certificate (I-REC) green certificates to offset emissions from the remaining share of its energy consumption not yet directly met by renewable energy sources. Combined with the large-scale hydropower supply contracts the company... 

Alamos Gold records strong quarter

By: Tasneem Bulbulia     29th April 2021 Dual-listed Alamos Gold produced 125 800 oz of gold for the quarter ended March 31, above the top end of its guidance, and a 14% increase compared with production in the first quarter of 2020. The higher output was driven by significantly higher production at its Young-Davidson mine, in Ontario,... 

Mag Silver expects Juanicipio processing plant commissioning in fourth quarter

By: Marleny Arnoldi     29th April 2021 Canadian mining company Mag Silver reports that the Juanicipio project, in Mexico, produced 462 321 oz of silver and 697 oz of gold in the first quarter of this year. Of this, 203 421 oz of silver and 307 oz of gold are attributable to Mag, which holds a 44% stake in the project, alongside... 

Yamana advances project as standout quarter provides solid foundation for progress

By: Simone Liedtke     29th April 2021 Canadian miner Yamana Gold produced 231 988 gold-equivalent ounces (GEO) in the first quarter, including gold production of 201 117 oz and silver production of 2.1-million ounces, both in line with the company’s trend of delivering stronger production, with quarterly sequential increases in... 

Freezing weather dampens output slightly from Imperial’s Red Chris project

By: Marleny Arnoldi     29th April 2021 TSX-listed Imperial Metals Corporation has reported lower quarter-on-quarter production from the Red Chris copper/gold project, in British Columbia, for the first quarter of this year, owing to a major power outage during a winter weather event experienced in February. The company explains in... 

Matsa upgrades Lake Carey resources

By: Esmarie Iannucci     29th April 2021 unior Matsa Resources has reported a 27% increase in the mineral resource at its Lake Carey gold project, in Western Australia. The ASX-listed company on Thursday reported that Lake Carey is now estimated to host some 654 000 oz of gold, at 2.6 g/t gold. 

Newcrest on track for full year targets

By: Esmarie Iannucci     29th April 2021 Gold miner Newcrest Mining is on track to meet its full year production guidance, following a strong March quarter. Group gold production in the three months to March reached 512 424 oz, down from the 535 477 oz produced in the December quarter, while copper production increased from 34 557 t to... 

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