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Gold News
REZ finishes mining at Granny Venn
By: Esmarie Iannucci 13th June 2022 ASX-listed Resources & Energy Group (REZ) has concluded mining operations at Granny Venn, in Western Australia. The company last week told shareholders that toll milling for the project’s fourth and final production campaign had been completed with 126 000 t of ore processed at an estimated head... →
AMCU, NUM sign wage deal with Sibanye
By: Reuters 12th June 2022 Two South African trade unions have signed a three-year wage agreement with miner Sibanye Stillwater on June 11, one of the unions said on Sunday, removing the last hurdle to restarting operations at its gold mines in the country. The unions - National Union of Mineworkers (NUM) and Association... →

Nedbank CIB facilitates R10bn loan to realise Harmony’s renewable energy goal
By: Donna Slater 10th June 2022 Nedbank, acting through its corporate and investment banking (CIB) division, has coordinated and structured an innovative financing solution for Harmony Gold to enable the miner to refinance and upsize its key corporate debt facilities through a R10-billion package. JSE-listed Harmony formally... →
Gold Fields investor tells miner to scrap Yamana deal 
By: Reuters 10th June 2022 A top-10 investor in South Africa's Gold Fields on Friday urged the miner to cancel its planned takeover of Canada-based Yamana Gold, saying the $6.7-billion transaction was expensive and did not guarantee growth and profitability. Shares in the South African miner plunged 20% on May 31, when it... →

Hemlo and Barrick still working on due diligence
By: Mariaan Webb 10th June 2022 Canada-based mineral exploration company Hemlo Explorers on Friday announced another extension of the binding term sheet with bullion major Barrick Gold. The companies originally estimated that a definitive agreement would be signed by April 30. →
Abcourt Mines proposes buying Pershimex Resources
By: Mariaan Webb 10th June 2022 TSX-V-listed Abcourt Mines on Thursday announced a nonbinding letter of intent to buy Pershimex Resources as part of its vision to create a bigger and more diversified emerging gold producer and explorer in Quebec. The combined company would have a strategic landholding of more than 510 km2... →
Tietto on track at Abujar
By: Esmarie Iannucci 10th June 2022 Gold developer Tietto Minerals on Friday told shareholders that construction of its Abujar gold project, in Côte d’Ivoire, remains on track for first gold pour in the fourth quarter of this year. “Construction is in full swing at Abujar, which has potential to be one of the largest producing... →
Greenlight's Einhorn sees gold going 'higher, perhaps much higher'
By: Reuters 10th June 2022 Greenlight Capital hedge fund manager David Einhorn said on Thursday that the Federal Reserve is pretending it can tame inflation and that the price of gold is likely to go higher amid the current environment of rising prices. "The question is whether there's enough gold to back the currency... →

Small remaining equity needed for restart of rich old copper mine in Northern Cape 
By: Martin Creamer 9th June 2022 A mine that produced some of South Africa’s best copper and zinc concentrates back in the day is capable of being brought back into production in 19 months after reconstruction go-ahead. Only a very little portion of equity is still required for the restart of the Prieska copper/zinc mine, which... →

Gold mine attacked in Burkina Faso, two dead - mine official
By: Reuters 9th June 2022 A large industrial gold mine in Burkina Faso was attacked during the night and one soldier and one civilian were killed, an official at the mine said on Thursday when reached by telephone, but was cut off before giving any further details. A Burkinabe security source who had spoken to a contact... →
Gold Road continues DGO acquisition drive
By: Esmarie Iannucci 9th June 2022 Gold miner Gold Road Resources’ interest in takeover target DGO Gold has soared to 72.69% Gold Road recently increased its takeover offer for fellow listed DGO from 2.16 Gold Road shares to 2.25 Gold Road shares for every DGO share held, and has extended the takeover period until the end of June. →
Gold’s haven appeal burnished by drumbeat of growth warnings
By: Bloomberg 9th June 2022 Gold could be heading for another rally, with warnings over a global economic slowdown paving the way for a fresh push toward $2 000/oz. A potent mix of decades-high inflation, geopolitical turmoil and growing talk of recession should be bullish for the traditional haven, according to speakers... →

Montage expands Koné with C$30m deal to buy Barrick-Endeavour JV
By: Creamer Media Reporter 8th June 2022 Canada-based precious metals explorer and developer Montage Gold is expanding its Koné gold project, in Côte d'Ivoire, with the acquisition of a 100% interest in the Mankono-Sissédougou joint venture (JV) project from Barrick Gold and Endeavour Mining for C$30-million in cash and shares. Mankono... →
Uganda says exploration results show it has 31Mt of gold ore
By: Reuters 8th June 2022 Uganda on Wednesday said recent exploration surveys have shown it has gold ore deposits of about 31 million tonnes and it wants to attract big investors to develop the sector hitherto dominated by small wildcat miners. Over the last two years aerial exploration was done across the country... →
M&R's Mining platform achieves strong recovery, order book at pre-pandemic levels
By: Schalk Burger 8th June 2022 Engineering and mining contracting firm Murray & Roberts’ (M&R’s) Mining platform says its order book has recovered to pre-pandemic levels. M&R Mining Platform CEO Mike da Costa adds that the platform has made a strong recovery from the economic effects of the Covid-19 pandemic. →

Resources Watch 
8th June 2022 This week: Sedibelo Platinum to play important part in South Africa’s green hydrogen effort; And, Junior explorer scores big in Namibian gold belt where mining majors failed →
Grassy Mountain permitting inches ahead
By: Mariaan Webb 8th June 2022 Permitting for the Grassy Mountain underground gold mine, which US-based precious metals company Paramount Gold Nevada is developing, took a step forward with the Oregon State Technical Review Team’s (TRT’s) water subcommittee accepting the project’s ground baseline data report (BDR). The... →
Barrick sells Perpetua shares
By: Mariaan Webb 8th June 2022 Bullion miner Barrick Gold on Tuesday announced the disposal of 5 382 587 common shares of Idaho-focused Perpetua Resources for gross cash proceeds of C$21.73-million. Immediately prior to the disposal, Barrick had beneficial ownership of, or control and direction over, about 8.5% of the issued... →
Kaiser Reef adds to Maldon capacity
By: Esmarie Iannucci 8th June 2022 An upgrade of the Maldon gold processing plant, in Victoria, is expected to deliver a 20% increase in throughput rates as well as gold recovery improvements, junior Kaiser Reef said. The ASX-listed company told shareholders that the first part of an upgrade, modernisation and maintenance... →
Newmont sells 3 500 oz of gold to Ghana under local purchasing plan
By: Reuters 8th June 2022 Newmont's Africa unit has sold 3 500 oz of gold to the Bank of Ghana under a central bank domestic gold purchasing programme launched in June 2021, the company said in a statement on Tuesday. The gold purchasing programme aims to increase gold reserves and spurred discussions with the Chamber or... →
Increased efficiency cuts carbon, advances net-zero path, research finds

By: Martin Creamer 8th June 2022 Like all other key industries, mining is having to advance along a net-zero path as part of the global decarbonisation drive. Gone are the days when innovation and financial improvement can be sold on their own without a carbon advantage. (Also watch attached Creamer Media video.) →
Employee killed in engineering-related incident at Harmony's Kusasalethu
By: Creamer Media Reporter 7th June 2022 Gold miner Harmony Gold says an employee has died following an engineering-related incident at its Kusasalethu mine, near Carletonville, on June 6. “Our heartfelt condolences go out to those impacted by this loss of life. We are deeply saddened and very concerned by the frequency of incidents,... →
Solidarity calls for action after illegal miners allegedly kill Sibanye-Stillwater employee
By: Tasneem Bulbulia 7th June 2022 Trade union Solidarity has expressed “utter disgust” at what it alleges was the killing of an electrician by illegal miners at Sibanye-Stillwater’s Cooke plant. The union says illegal miners on the night of June 6 shot and killed a worker while he was doing normal repair work to power cables. →
GDP returns to pre-pandemic levels, up 1.9% q/q in the first quarter
By: Donna Slater 7th June 2022 Statistics South Africa (Stats SA) reports that the country’s seasonally-adjusted gross domestic product (GDP) rose by 1.9% quarter-on-quarter in the first quarter of the year, driven primarily by the manufacturing sector, which increased by 4.9% and contributed 0.6 of a percentage point to the... →

ETFs shed $3bn worth of gold assets in May
By: Marleny Arnoldi 7th June 2022 The World Gold Council (WGC) reports that outflows of global gold-backed exchange-traded funds (ETFs) have ended their four-month run of positive inflows, with outflows totalling 53 t, or $3.1-billion, in May. While this was the largest monthly outflow since March 2021, total holdings remain 8%... →
Eskay Creek is first mining project to have permits authorised by Indigenous government
By: Mariaan Webb 7th June 2022 Toronto- and New York-listed Skeena Resources has welcomed the historic consent-based decision-making agreement reached by the province of British Columbia and the Tahltan Central Government. Through this agreement, the revitalisation of the past-producing Eskay Creek gold/silver project,... →

Moody's expects most commodity prices to remain high over short term
By: Marleny Arnoldi 7th June 2022 Financial research firm Moody’s Investor Service says in its latest outlook for metals and mining that most commodity prices will remain high for the time being, supporting increases in earnings for many companies. Particularly, base metals prices will remain high and volatile, as prices for... →
AngloGold to earn into Latin Metals’ Argentina projects
By: Mariaan Webb 7th June 2022 Bullion major AngloGold Ashanti has been granted an option to earn up to 80% interest in three gold projects owned by Latin Metals in Salta province, north-western Argentina. The South Africa-headquartered major has an option to earn a 75% interest in the Organullo, Ana Maria, and Trigal Gold... →
Mali gold mining revenue rises 23% in 2021
By: Reuters 7th June 2022 State revenue from gold mining companies in Mali rose 23% year-on-year in 2021 to 564.5-billion CFA francs ($931-million) after certain tax allowances were ended, a mines ministry official said on Monday. Mali is one of Africa's top gold producers and home to industrial mines operated by... →
Barminco wins major Cowal contract
By: Esmarie Iannucci 7th June 2022 Gold miner Evolution Mining has awarded ASX-listed mining services provider Perenti a near A$520-million underground mining contract at the Cowal gold mine, in New South Wales. Perenti on Tuesday announced that its subsidiary Barminco had been awarded the new contract, expanding the divisions’... →
Golden moment at King of the Hills
By: Mariaan Webb 6th June 2022 Australian bullion miner Red 5 on Sunday completed the first gold pour at King of the Hill project, in Western Australia. The first smelt delivered two gold dore bars, weighing 1 588 oz, following the recent commissioning of the gravity and elution circuits. →
Gold to remain uncertain as interest rates, dollar rise weigh in second half
By: Donna Slater 6th June 2022 Despite high inflation and increasing macro uncertainty for the second half of the year, credit risk and research organisation CreditSights says rising interest rates and a stronger dollar will likely cap any further upside potential of gold for the remainder of the year. Currently, gold is... →

Assay results from Caracal’s Kilimapesa Hill confirm high-grade mineralisation
By: Tasneem Bulbulia 6th June 2022 Aim-listed Caracal Gold says the results from its second batch of sample assay results from its reverse circulation (RC) and diamond drilling (DD) drilling programmes continue to confirm the strike and depth continuation of the known orebody at the Kilimapesa Hill deposit at the Kilimapesa Gold... →
Circular economy prompting steel, oil, carbon recovery from end-of-life mine truck tyres

By: Martin Creamer 6th June 2022 Highest and best use of ultra-large end-of-life mine truck tyres is being brought about by a change to the model in which resources are mined, made into products, and then become waste. Just one of these giant tyres can weigh 4.5 t and stand 14 feet tall. Put five of the 63-inch variety into a... →
Sibanye says gold sector employees have indicated their support for a CCMA-proposed wage deal
By: Creamer Media Reporter 3rd June 2022 JSE- and NYSE-listed Sibanye-Stillwater reports that, at a mass meeting held at the company's South African gold operations on June 3, members of the Association of Mineworkers and Construction Union (AMCU) and the National Union of Mineworkers (NUM) had given union leadership a mandate to accept... →
Energy transition will require many times more metals than are currently mined
By: Darren Parker 3rd June 2022 Given the rate of population growth, a 10% penetration of electric vehicles (EVs) into the automotive market by 2030 would require the mining industry to produce about ten times more metals than what it currently produces, Rainbow Rare Earths CEO George Bennett has said. “Most people don't... →
Ghana loses gold top spot as 2021 output falls to 13-year low
By: Reuters 3rd June 2022 Ghana's gold production fell 29.9% to 2.818-million ounces in 2021 from the previous year, reaching its lowest level since 2008, Joshua Mortoti, President of the Ghana Chamber of Mines said on Friday. →
Gold Fields’ acquisition of Yamana enhances credit quality – Moody’s
By: Mariaan Webb 3rd June 2022 South Africa-based Gold Fields’ $6.7-billion acquisition of Yamana Gold will enhance its credit quality as the combined group will benefit from a bigger scale and broader geographic diversification without any new debt being raised, says credit ratings agency Moody’s. The acquisition of its peer... →

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