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Gold News
Resolute's production falls in March quarter
By: Esmarie Iannucci 29th April 2021 Africa-focused gold miner Resolute Mining has reported a 5% fall in gold production for the March quarter, compared with the previous quarter, as its Syama operation, in Mali, reported its highest sulphide gold production since 2016. Gold production for the three months to March reached 85 668... →
Gold outlook for 2021 positive, despite uncertainty – World Gold Council 
By: Simone Liedtke 29th April 2021 Gold investment demand fell in the first quarter, driven by hefty outflows in gold-backed exchange-traded funds (ETFs) as growing expectations of higher interest rates impacted sentiment, the World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’ (GDT) report shows. WGC market intelligence... →
Ghana sends in army to enforce mining ban near rivers and lakes
By: Reuters 29th April 2021 Ghana's military has launched a nationwide operation to clear illegal miners out of its water bodies, the West African country's lands minister said in on Wednesday. Two hundred soldiers were deployed on Wednesday morning to lakes, rivers and waterways in the country's central and western regions... →
Galane Gold achieves 60% increase in all resource categories following latest PEA
By: Simone Liedtke 28th April 2021 TSX-V-listed Galane Gold achieved a 60% increase of in all resource categories to 970 904 oz of gold in the measured and indicated categories, and more than 1.4-million ounces of gold in the inferred category. This follows the publication of a new preliminary economic assessment (PEA) on April 28. →
Mining policy should be hugely supportive of exploration’s multiplier magic – investor 
By: Martin Creamer 28th April 2021 Mining, preceded by exploration, is the greatest economic multiplier of all business activities, including government expenditure, says Integral Asset Management chief investment officer Bruce Williamson. It therefore makes huge sense for government to enact attractive investment-friendly... →
First Quantum achieves record quarterly output from Cobre Panama
By: Marleny Arnoldi 28th April 2021 TSX-listed First Quantum Minerals has recorded net earnings attributable to shareholders of $142-million, or $0.21 apiece, for the quarter ended March 31. This while generating cash flow from operating activities of $743-million. →
Barrick’s Loulo-Gounkoto’s third underground mine on track to start production
By: Tasneem Bulbulia 28th April 2021 The third underground mine at Barrick Gold Corporation’s giant Loulo-Gounkoto gold complex, in Mali, has reached its first mining level and is scheduled to start delivering ore to the plant during the current quarter, president and CE Mark Bristow says. A prefeasibility study has started on two... →
Ramelius refines full year expectations
By: Esmarie Iannucci 28th April 2021 Gold miner Ramelius Resources has refined its full year production expectations to between 275 000 oz and 280 000 oz, from the previous guidance of between 260 000 oz and 280 000 oz. The ASX-listed miner on Wednesday reported that group gold production for the June quarter was expected to reach... →
Lower grades hit St Barbara's output
By: Esmarie Iannucci 28th April 2021 Gold miner St Barbara has reported a slight decline in production during the March quarter, as lower grades impacted all three operations. In the three months to March, group gold production reached 82 303 oz, down from the 89 670 oz produced in the first quarter. →
IGO's revenue falls on lower gold output
By: Esmarie Iannucci 28th April 2021 Metals miner Independence Group (IGO) has reported a 21% fall in revenue and a 23% fall in underlying earnings before interest, tax, depreciation and amortization (Ebitda) for the quarter ended March as production declined. Nickel production from the Nova operation declined from 7 024 t in the... →
Copper miner Grupo Mexico swings to big profit as metal prices jump
By: Reuters 28th April 2021 Grupo Mexico registered a net profit of $1.1-billion in this year's first quarter, the Mexican mining and transport company said on Tuesday, helped by a 50% surge in copper prices during the first three months of the year. The company's-billion dollar profit in the January-to-March period marked... →
Another solid quarter for Sandfire
By: Esmarie Iannucci 28th April 2021 Copper/gold miner Sandfire Resources has reported a solid quarter of production in the three months to March. Copper production in the period under review remained stable at 16 803 t, compared with the 16 390 t produced in the previous quarter, while gold production declined slightly from 9 660... →
Simberi's sulphide ops prove up
By: Esmarie Iannucci 27th April 2021 Gold miner St Barbara has approved a $13-million initial investment into the sulphide project at its Simberi operation, in Papua New Guinea (PNG), following a positive feasibility study (FS). The ASX-listed miner said that a final investment decision on the sulphide operation is targeted for... →
Superior goes full throttle at Steam Engine
By: Esmarie Iannucci 27th April 2021 A scoping study into the Steam Engine gold deposit, in Queensland, has found that the project could be developed into a financially and technically robust openpit operation. ASX-listed Superior Resources told shareholders that the scoping study, which was based on a mineral resource estimate... →
INV advances Loma Larga project, begins formal permitting process
By: Tasneem Bulbulia 26th April 2021 TSX-listed INV Metals has submitted the environmental-impact study (EIS) for its Loma Larga gold/silver/copper project, in Ecuador. “We are pleased to announce the submission of the EIS for review and comment by the Ministry of Environment and Water (MEW). →
Fortuna to secure West Africa foothold through Roxgold buyout
By: Tasneem Bulbulia 26th April 2021 Canadian precious metals mining company Fortuna Silver Mines and Canadian-based gold mining company Roxgold have entered into a definitive agreement whereby Fortuna will acquire all the issued and outstanding securities of Roxgold pursuant to a plan of arrangement. Under the terms of the... →
Chaarat lifts first-quarter Kapan production, third-party ore treatment
By: Donna Slater 26th April 2021 Aim-listed gold miner Chaarat Gold increased production from its Kapan mine, in Armenia, by 21% year-on-year to 16 174 gold-equivalent ounces for the first quarter of this year. Third-party ore treated amounted to 34 000 tonnes during the quarter, up from nil in the first quarter of 2020. →
Goldplat completes sale of Kilimapesa Gold
By: Tasneem Bulbulia 26th April 2021 Aim-listed Goldplat has announced that all conditions precedent in respect of the sale of its subsidiary Kilimapesa Gold, which owns the Kilimapesa mine, in Kenya, to Mayflower Gold Investments have been either met or waived and that the sale is now complete. The completion of the transaction... →
Nordgold settles $525m debt
By: Donna Slater 26th April 2021 Diversified gold producer Nordgold has repaid in full the $325-million seven-year debt facility provided to it by Russian State-owned bank Sberbank in April 2017. It, in January, also repaid the full outstanding $200-million under a five-year syndicated loan provided to Nordgold in March 2018 by... →
Marathon files updated report of Valentine project
By: Tasneem Bulbulia 26th April 2021 TSX-listed Marathon Gold has filed an update technical report for the Valentine gold project in central Newfoundland, Canada. The report was prepared by Ausenco Engineering Canada and contains updates to the mineral resource estimate of the project. →
Saudi State miner Maaden said to name third CEO in 13 months
By: Bloomberg 26th April 2021 Saudi Arabia’s State miner has appointed its third chief executive officer in the past 13 months after the departure of Mosaed Al Ohali, according to people familiar with the matter. Abdulaziz Al Harbi, a senior vice president at Saudi Arabian Mining, will replace Al Ohali as acting CEO until... →
Newmont-Barrick miner in Chile says to continue despite legal setback
By: Reuters 26th April 2021 A partnership between miners Newmont and Barrick in Chile said on Friday it will to work with local communities to boost development of its Norte Abierto gold-copper project despite a setback in the courts this week. An environmental court ordered a new evaluation of exploration at Norte Abierto... →
Zimbabwe gold output down 30% in first quarter
By: Reuters 23rd April 2021 Zimbabwe's gold production fell 30% to 3.98 tonnes in the first quarter of this year, while export earnings from the yellow metal also declined, central bank data showed on Friday. The Reserve Bank of Zimbabwe (RBZ) did not give a reason for the decline, but small-scale miners who produce half of... →
Miners seek gold under the desert sands after Egypt changes rules
By: Reuters 23rd April 2021 Mining companies awarded blocks in Egypt's Eastern Desert are set to start exploring for gold under a legislative overhaul that seeks eventually to unlock vast untapped mineral resources. Despite plentiful reserves and a rich mining history that gave rise to elaborate Pharaonic gold jewellery,... →
Torex makes first foray into renewable energy at its mines
By: Creamer Media Reporter 23rd April 2021 Canada-based intermediate gold producer Torex Gold on Thursday announced that it would build a new 8.5 MW solar plant at its Morelos property, which includes the El Limon Guajes mine and Media Luna project, in Mexico. The Toronto-listed company has entered into a commercial lease agreement with... →
Sibanye prepares for the future with new senior management appointments
By: Donna Slater 23rd April 2021 In line with its revised organisational structure, JSE- and NYSE-listed precious metals miner Sibanye-Stillwater has established various leadership positions to enhance the company’s capacity to conduct business in an increasingly dynamic and complex world, with stakeholders expecting delivery to... →
Silver Lake ups gold output in March quarter
By: Esmarie Iannucci 23rd April 2021 Gold miner Silver Lake Resources has reported higher gold production for the quarter ended March, compared with the previous quarter. Group gold production in the three months to March reached 60 502 oz, up from the 57 566 oz produced in the previous quarter, while copper production increased... →
RareX mulls demerger and IPO
By: Esmarie Iannucci 23rd April 2021 Junior RareX has announced plans to spin-out its nickel/copper/platinum-group element (PGE) and gold assets into a separately listed company. RareX said on Friday that the decision to pursue a demerger and separate listing for its Byro East nickel/copper/PGE and Orange East gold projects, in... →
Glencore chair defends pay plan for commodity trader’s new CEO
By: Bloomberg 22nd April 2021 Glencore's chairperson defended an incentive plan for the commodity giant’s new chief executive officer, after prominent advisory firms urged investors to vote against it. Gary Nagle, the handpicked successor of outgoing CEO Ivan Glasenberg, will take over the helm of the world’s biggest... →
Iamgold starts recalling Westwood employees
By: Creamer Media Reporter 22nd April 2021 Canadian miner Iamgold on Thursday announced the staged recall of employees back to its Westwood mine, in Quebec, ahead of a possible restart in the second half of the year. Activities were currently still focused on training and rehabilitation work, the company said. But when operations do... →
Centamin's second-quarter exploration, project plans remain on track
By: Simone Liedtke 22nd April 2021 Gold miner Centamin says its exploration and capital project development plans for the second quarter remain on track. Reporting on its results for the quarter ended March 31, CEO Martin Horgan says the quarter was a "good start" to the year, with Centamin having delivered production as... →
India’s massive gold imports shows Asian consumer demand returns
By: Bloomberg 22nd April 2021 India’s gold imports from Switzerland surged to highest in almost eight years in March, in a sign that Asian consumers are once again a key pillar of support for the precious metal. After a year on the sidelines -- during which exchange-traded fund buying drove bullion to a record -- Indian and... →
Rainy River reports positive Covid cases, operations continue
By: Creamer Media Reporter 22nd April 2021 Bullion miner New Gold on Wednesday reported three positive Covid-19 cases as its Rainy River mine, in north-western Ontario, but said that operations were continuing. An additional seven employees tested non-negative with the in-house PCR device and the mine was awaiting confirmation from the... →
Kirkland Lake partners with Orefinders and Mistango
By: Mariaan Webb 22nd April 2021 Precious metals major Kirkland Lake is making an equity investment Orefinders and Mistango River Resources, with the miner agreeing to acquire a 9.9% stake in each of the two gold juniors. Additionally, Kirkland Lake is entering into a $60-million option and joint venture agreement with each of... →
Oz on track for 2021 targets, but Covid hampering Brazil ops
By: Esmarie Iannucci 22nd April 2021 Copper/gold miner Oz Minerals on Thursday said that it was on track to meet its full year production guidance, however, the miner told shareholders that challenging conditions in Brazil, relating to the escalating Covid-19 pandemic in the region, could impact the development of the Pedra Branca... →
Rain falls on the Evolution parade
By: Esmarie Iannucci 22nd April 2021 Gold miner Evolution Mining has reported a fall in gold production as wet weather conditions impacted access to higher-grade ore at its Mt Rawdon operation, in Queensland. The ASX-listed miner on Thursday reported that gold production in the March quarter had reached 161 316 oz, down from the... →
Genesis raises cash for Ulysses
By: Esmarie Iannucci 22nd April 2021 ASX-listed Genesis Minerals will raise A$11-million through a share placement and share purchase plan (SPP) to underpin the next phase of growth at its Ulysses gold project, in Western Australia. The company on Thursday announced that it had received firm commitments for the placement of some... →
AngloGold gives approval for Tropicana sale
By: Esmarie Iannucci 22nd April 2021 Gold miner AngloGold Ashanti has waived its pre-emptive rights over joint venture (JV) partner Independence Group’s (IGO’s) 30% interest in the Tropicana gold mine, clearing the way for ASX-listed Regis Resources to acquire the interest. Regis and IGO earlier this month struck a A$903-million... →
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