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Gold News
Marathon upsizes bought offering
By: Creamer Media Reporter 5th May 2020 TSX-listed Marathon Gold, which owns the Valentine gold project in central Newfoundland, is amending the terms of its previously announced bought deal offering to upsize it to C$30-million. Under the amended terms, Canaccord Genuity, Sprott Capital Partners and RBC Capital Markets, as co-lead... →
Argonaut and Alio merger receives positive proxy recommendation
By: Creamer Media Reporter 5th May 2020 Toronto-listed miners Argonaut Gold and Alio Gold have received a positive recommendation for the proposed merger by independent proxy advisory form Institutional Shareholder Services (ISS). The companies said that ISS recommended that Argonaut and Alio shareholders vote in favour of the... →
Iamgold trims its 2020 guidance
By: Mariaan Webb 5th May 2020 Production at Canada-based gold miner Iamgold could fall below 700 000 oz this year, owing to the continuing global Covid-19 crisis. The company, which owns assets in Canada, Burkina Faso, Mali and Suriname, on Monday lowered its guidance for 2020 to between 685 000 oz and 740 000 oz, compared... →
Cora appoints Digby Wells to conduct Esia for Sanankoro project
By: Donna Slater 4th May 2020 West African-focused gold company Cora Gold has appointed international environmental consultants Digby Wells Environmental to undertake the environmental- and social-impact assessment (Esia) for its Sanankoro project in the Yanfolila gold belt, in southern Mali. The collection of baseline data... →
Agnico Eagle issues new 2020 production, capex guidance
By: Mariaan Webb 4th May 2020 Canadian gold miner Agnico Eagle has issued a new production and capital expenditure (capex) guidance for 2020 to reflect the impact of Covid-19-related production shutdowns, but with mines ramping up again, the group says it is positioned for a strong second half. NYSE- and TSX-listed Agnico... →
Gold bars fight Covid-19 kits for space on the plane
By: , Bloomberg 4th May 2020 Swiss refiner Valcambi tried for five straight days last month to move a shipment of gold out of Hong Kong. Twice the metal was packed carefully onto a plane, only to be offloaded again. After daily attempts and numerous arguments, the gold suddenly arrived in Switzerland without warning, said... →
Barrick welcomes court decision over Papua New Guinea gold mine
By: Reuters 1st May 2020 Barrick Gold said on Friday it welcomed a court ruling ordering the Papua New Guinea (PNG) government to negotiate over a lease extension for the Porgera gold mine. Prime Minister James Marape recently said that the country would not grant the mine a 20-year operating extension due to... →
Newcrest completes billion dollar placement
By: Esmarie Iannucci 1st May 2020 Gold miner Newcrest Mining has successfully completed a A$1-billion fully underwritten institutional placement, with some 39.1-million shares placed at a price of A$25.6 a share. Newcrest earlier this week announced plans for the raising, along with a A$100-million share purchase plan (SPP), to... →
Alacer maintains full year outlook
By: Esmarie Iannucci 1st May 2020 Dual listed gold miner Alacer Gold has maintained its production outlook for the 2020 financial year, reporting a strong first quarter in the three months to March. The ASX- and TSX-listed company produced 87 863 oz of gold during the three months under review, down slightly from the 89 354 oz... →
Covid-19 to have outsized impact on mining – developer
1st May 2020 The World Health Organisation (WHO) has declared the Covid-19 outbreak a pandemic and, at the time of writing, there were more than 1.3-million confirmed cases worldwide. Mining companies have been affected by Covid-19 outbreaks, and global restrictions to encourage physical distancing have meant... →
Competition Tribunal approves Harmony-AngloGold transaction 
By: Martin Creamer 30th April 2020 The Competition Tribunal has unconditionally approved Harmony Gold’s acquisition of Mponeng gold mine, other assets and other related liabilities from AngloGold Ashanti. The purchase price includes $200-million in cash, plus a deferred payment of up to $100-million. As Mining Weekly has reported,... →
Covid-positive Impala Canada employee dies
By: Martin Creamer 30th April 2020 An employee of Impala Canada has died after testing Covid-19 positive, Implats said on Thursday. Twenty five employees tested positive at Impala Canada’s Lac des Iles operation, resulting in the mine being closed and placed on care and maintenance. →
Ramelius cuts costs at Tampia, pushes back start date
By: Esmarie Iannucci 30th April 2020 Gold miner Ramelius Resources has identified a A$24-million capital cost savings for its Tampia gold project, in Western Australia, on the back of a simplified processing solution, but has pushed back the project’s start date from mid-2020 to the start of the 2021 calendar year. The miner on... →
Gold miner Yamana lifts dividend by 25%
By: Creamer Media Reporter 30th April 2020 Canadian gold miner Yamana on Wednesday announced a 25% increase in its annual dividend to $0.0625 a share, effective from the second quarter of 2020. This is the third dividend increase that the gold miner announced in the past year, for a cumulative total increase of 213%. These increases,... →
Newcrest raises major cash for financing buy 
By: Esmarie Iannucci 30th April 2020 Gold miner Newcrest Mining is undertaking a fully underwritten institutional placement with the aim of raising A$1-billion, along with a share purchase plan (SPP) to raise a further A$100-million. The funds will be used to purchase the Fruta del Norte financing facilities, for $450-million and... →
Mexican miners ask US to consider it in talks on re-opening
By: Reuters 30th April 2020 Mexico's miners on Wednesday asked the US government to consider their sector in talks over the reopening of key areas of the Mexican and US economies once quarantine measures imposed over the coronavirus outbreak are gradually repealed. Talks are ongoing both domestically and internationally in... →
Gold still has important role to play, despite Covid-19, says World Gold Council
By: Simone Liedtke 30th April 2020 Global gold holdings is said to have held firm at 1 083.8 t in the first quarter of the year, marking a rise of 1% on the same period last year, according to the World Gold Council’s (WGC's) latest Gold Demand Trends report. The global Covid-19 pandemic fueled the safe-haven investment demand for... →
Fresnillo first-quarter output in line with expectations
By: Mariaan Webb 29th April 2020 Mexico precious metals miner Fresnillo said on Wednesday that its first-quarter production was in line with expectations, reporting silver output of 13.2-million ounces and gold production of 197 000 oz. Silver production was flat on a year-on-year comparison, but gold output fell by 6.7% when... →
RBPlat bucks turbulent trend with stable first-quarter production
By: Martin Creamer 29th April 2020 Platinum group metals mining company Royal Bafokeng Platinum (RBPlat) on Wednesday reported stable first-quarter production output despite significant operational headwinds related to power grid stability, the Anglo American Platinum (Amplats) force majeure declaration and the Covid-19 pandemic.... →
Royal Bafokeng Platinum CEO Steve Phiri
Russian metals and mining firms reduce investment, delay divs amid coronavirus
By: Reuters 29th April 2020 Three of Russian metals and mining companies said on Wednesday they were tightening belts with tools varying from reduced investment to delayed dividends or postponed asset purchases as the new coronavirus outbreak is adding to risks. Russia, a major producer of dozens of metals for the global... →
Russian central bank sees no need to restart gold buying
By: Reuters 29th April 2020 Russia's central bank sees no current need to restart purchases of gold for its reserves, it said in a letter to an association of Russian banks, a copy of which was seen by Reuters on Wednesday. The association previously asked the central bank to resume buying gold as, it said, exports of the... →
Caledonia declares quarterly dividend
By: Tasneem Bulbulia 29th April 2020 Gold producer Caledonia Mining Corporation has declared a dividend of $0.075. On April 1, the board deferred the decision to declare the quarterly dividend in light of the uncertainty surrounding the Covid-19 pandemic. →
Condor receives enviro permit for Mestiza openpit
By: Creamer Media Reporter 29th April 2020 Aim- and TSX-listed Condor Gold has been granted an environmental permit for the development and exploitation of gold from the high-grade Mestiza openpit, which is complimentary to the La India project, in Nicaragua The Mestiza openpit hosts 92 000 t at 12.1 g/t gold, for 36 000 oz contained... →
Mali parliament approves new mining code
By: Reuters 29th April 2020 Mali's Parliament on Tuesday approved a new code that eliminates mining companies' value added tax exemptions during production and shortens the period during which they are protected from fiscal changes to 20 years, a lawmaker told Reuters. The new code, which shortens the so-called "stability... →
Equinox still aims to make construction decisions for two projects this year
By: Mariaan Webb 29th April 2020 Canadian miner Equinox Gold is advancing engineering and economic studies related to the Los Filos carbon-in-leach (CIL) plant and the Santa Luz restart, with the aim of making construction decisions for both projects later this year. The new $115-million CIL plant forms part of the phased... →
Village Main Reef postpones potential job cuts until lockdown ends
By: Reuters 29th April 2020 South African gold miner Village Main Reef, which planned a turnaround of its operations that could lead to job cuts, said on Wednesday it had agreed to postpone the retrenchment process until after the nationwide coronavirus lockdown. The unlisted miner, controlled by China-based parent company... →
Zijin warns PNG of China anger over end of Barrick gold mine lease
By: Reuters 29th April 2020 China's Zijin Mining has warned Papua New Guinea that its failure to renew the lease of a gold mine it jointly owns with Barrick Gold Corp there could damage bilateral relations. Papua New Guinea on Friday said it would not renew a 20-year mining lease at its Porgera gold mine, citing... →
West African buys Burkina Faso deposit from B2Gold
By: Esmarie Iannucci 29th April 2020 ASX-listed West African Resources has struck a $45-million deal with Canada’s B2Gold Corp to acquire the Toega gold deposit, in Burkina Faso. Located within 14 km of West African’s own Sanbrado project, the Toega deposit has an existing inferred resource of some 1.1-million ounces, grading 2.1... →
World's mine workers resist quick restart amid coronavirus
By: Reuters 28th April 2020 As mining heavyweights South Africa and Peru move to lift coronavirus lockdowns, workers in deep mines are resisting going back to work without adequate protective gear and information about cases at sites, with one major union filing legal action against restart plans. The workers fear being... →
Surging profits seen as no safety net for winning gold stocks
By: , Bloomberg 28th April 2020 Don’t be fooled by gold’s rally when Yamana Gold and Agnico Eagle kick off earnings for the industry this week. While the metal’s prices are surging, many of the companies have shut down mines amid the coronavirus pandemic, making this reporting season anything but a sure bet. Boosted by a jump... →
Seabridge presents alternate approach for developing KSM
By: Mariaan Webb 28th April 2020 The benefits of incorporating the Iron Cap block cave mine earlier into the production schedule of the KSM project have exceeded owner Seabridge Gold’s expectations and should give investors a “compelling view” of the project’s economics. The TSX-listed company this week published an updated... →
IronRidge starts second part of drill programme in Côte d'Ivoire
By: Marleny Arnoldi 28th April 2020 Aim-listed IronRidge Resources has started Phase 2 of a drilling programme at the Zaranou gold project, in Côte d'Ivoire. The company plans on undertaking 8 000 m of aircore (AC) drilling and 1 000 m of reverse circulation (RC) drilling. →
Tanzanian Gold notes potential of Buckreef
By: Tasneem Bulbulia 28th April 2020 Dual-listed Tanzanian Gold reports that SGS Canada Lakefield will soon start comprehensive metallurgical testing on the primary or sulphide gold mineralisation at the Buckreef gold project, in northern Tanzania. The results will be the basis for a final feasibility study. →
Morale high as Covid-masked South African miners get back to work
By: Martin Creamer 28th April 2020 Morale is reportedly high as Covid-masked and physically distanced South African mineworkers get back to mining underground for companies that have gone the extra mile to ensure that they have been fully remunerated and host communities generously funded during the national lockdown. In a... →
Aton granted three-year exploration extension for Egypt gold project
By: Donna Slater 28th April 2020 Gold exploration and development company Aton Resources has been granted a three-year extension to the final exploration period of its current exploration licence at its Abu Marawat concession, located in the central eastern desert of Egypt. This enables Aton to continue with exploration work on... →
Goldplat reports healthy operating profit for March quarter
By: Marleny Arnoldi 28th April 2020 Aim-listed Goldplat’s South African gold recovery operations maintained profitability during the quarter ended March 31, recording an operating profit of £843 000. This contributed to an operating profit of £3.4-million for the South African operations for the nine months ended March 31, which... →
China's first-quarter gold consumption cut in half by virus, price spike
By: Reuters 28th April 2020 China's gold consumption fell by almost half in the first quarter as coronavirus containment measures and rising prices hit demand in the world's biggest market, the China Gold Association said on Tuesday. Consumption totalled 148.63 tonnes in January-March, down 48.2% from a year earlier, the... →
Papua New Guinea warns Barrick over gold mine control
By: Reuters 28th April 2020 Papua New Guinea has threatened to take control of a gold mine operated by Barrick Gold in the country after Barrick's local unit suspended operations at the weekend following news the mine's lease would not be renewed. Barrick, one of the world's biggest gold miners, had applied for a... →
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