R/€ = 16.95 Change: -0.03
R/$ = 16.23 Change: -0.14
Au 1818.28 $/oz Change: -8.49
Pt 917.50 $/oz Change: 2.00

Gold News

Work to start on Chatree restart in July

By: Esmarie Iannucci     19th May 2022 Gold junior Kingsgate Consolidated has appointed engineering firm CR3 to refurbish and restart the Chatree gold mine, in Thailand. Mobilisation of CR3 personnel to Chatree is expected through June with work to commence in July. 

Collaboration needed to make South African mining globally competitive again – CSIR 

By: Martin Creamer     18th May 2022 Concern about mineral resource scarcity is widespread and, at the same time, many countries, such as Australia, Canada and China, are investing significantly in strengthening their mining-related research, development and innovation (RDI) capabilities. “This makes cost and differentiation... 

Picture supplied.
CSIR CEO Dr Thulani Dlamini

Iamgold secures 51% stake in Oriole’s Senala projejct

By: Darren Parker     18th May 2022 Aim-listed exploration company Oriole Resources has announced that its joint venture (JV) partner Iamgold has met the requirements for earning 51% ownership in the Senala gold project, in Senegal. In February, Iamgold notified Oriole that it had duly exercised the first option outlined in an... 

Gold refiner to stop working with mines that miss carbon goals

By: Bloomberg     18th May 2022 One of the world’s biggest gold refineries will look to stop sourcing metal from mines that fail to meet standards on carbon emissions. MKS PAMP plans to curb emissions that come from its supply chain by 27.5% before the end of the decade, the company said in a statement Wednesday. As a result... 

Cora records positive drilling results at Mali project

By: Tasneem Bulbulia     18th May 2022 2022 drill programme at its Sanankoro gold project, in southern Mali, and CEO Bert Monro says the latest results from Zone B North once again show shallow oxide mineralisation of good widths and grade. Reverse circulation (RC) drilling highlights from Zone B North include 17 m at 2.85 g/t gold... 

Kingsgate increases Chatree reserves

By: Esmarie Iannucci     18th May 2022 ASX-listed Kingsgate Consolidated has reported a 46% increase in the ore reserve at its Chatree gold mine, in Thailand. The ore reserves have increased to 1.3-million ounces of gold up from 0.89-million ounces of gold. Furthermore, silver ore reserves have increased from 8.3-million ounces to... 

Ghana starts gold purchase programme to strengthen currency

By: Reuters     17th May 2022 Ghana has started a bulk purchase programme to buy gold locally to raise the gold component of its reserves, Central Bank Governor Ernest Addison said on Tuesday, in a bid to strengthen the cedi currency without increasing inflation. "We have started a bulk purchase program, domestic, where we... 

Aton encouraged by high-grade North Ridge mineralisation of Rodruin

By: Donna Slater     17th May 2022 Egypt-focussed gold explorer Aton Resources’ Phase 2 drilling of the previously untested North Ridge site of the Rodruin prospect, which started in November 2021, has to date, resulted in gold mineralisation of 8.74 g/t and 29.4 g/t being discovered over 12 m. In 2018, Aton undertook a 50-hole... 

Laneway given approval for Georgetown plans

By: Esmarie Iannucci     17th May 2022 ASX-listed Laneway Resources has been granted environmental clearance to start processing Agate Creek ore at its Georgetown processing plant, in North Queensland. Laneway earlier this year acquired the Georgetown gold processing plant, along with an extensive portfolio of mining and exploration... 

i-80 Gold to trade on NYSE

By: Creamer Media Reporter      17th May 2022 Nevada-focused i-80 Gold has been approved for listing and trading on the NYSE American. CEO Ewan Downie says listing on is a major achievement for the company, providing enhanced access to the world’s biggest and most liquid equity market. 

Underground development starts at Ascot's Premier project

By: Mariaan Webb     17th May 2022 Vancouver-based Ascot Resources has begun underground development work at its C$224-million Premier gold project, British Columbia, and plans to initiate full-scale ramp development this month. The company is currently advancing the project with available liquidity, while it continues to look... 

Calidus pours first gold at Warrawoona

By: Esmarie Iannucci     17th May 2022 ASX-listed Calidus Resources has poured its first gold from its carbon-in-leach circuit at its Warrawoona gold project, in Western Australia. The first gold pour marked the successful completion of commissioning of the full processing circuit, with some 33 kg of gold now having been poured. The... 

Orca shareholders back Perseus' play

By: Esmarie Iannucci     17th May 2022 The shareholders of TSX-V listed takeover target Orca Gold have voted overwhelmingly in favour of the takeover offer from dual listed gold miner Perseus Mining. Orca this week announced that some 99.99% of the votes cast at the company’s shareholder meeting had been cast in favour of the... 

Gold Fields’ cultural, capability alignment contribute to South Deep’s success – OIM

By: Donna Slater     16th May 2022 Gold miner Gold Fields was able to turn its business around, from struggling to turn a profit in 2018 to making more than R100-million in profit in 2019, as a result of a broader cultural and capability-alignment process the miner credited to leadership consultancy OIM Consulting. OIM Consulting... 

SARB takes control of small lender Ubank

By: Reuters     16th May 2022 South Africa's central bank said on Monday it had placed Ubank, a small South African lender primarily offering financial services to families of gold and platinum miners, under a curatorship with immediate effect. South African Reserve Bank Governor Lesetja Kganyago said in the last two years... 

Gold prices buckle under pressure from 'King Dollar', higher yields

By: Reuters     16th May 2022 Gold prices fell more than 1% to their lowest in three-and-a-half months on Monday as elevated bond yields and a firmer US dollar dampened bullion demand, even as riskier assets dropped after grim China economic data. A stronger dollar makes gold expensive for overseas buyers, while higher... 

Adams replaces Pichette as Monarch director

By: Creamer Media Reporter      16th May 2022 Toronto-listed Monarch Mining has appointed Renaud Adams – former CEO of New Gold – to its board of directors, replacing Christian Pichette, who is retiring from his position of director. Welcoming Adams to Monarch’s board, chairperson Michel Bouchard said on Monday that the company was... 

Equinox suspends RDM operations pending TSF raise permits

By: Mariaan Webb     16th May 2022 TSX-listed Equinox Gold on Monday announced the suspension of operations at the RDM mine, in Brazil, pending regulatory approvals for the scheduled tailings storage facility (TSF) raise. The company said it applied for the permits for the TSF raise in 2021, but that it had not yet been granted. 

Chaarat reports fatality at Kapan

By: Creamer Media Reporter      16th May 2022 Aim-quoted gold miner Chaarat Gold on Monday reported a fatality at its Kapan mine, in Armenia. The company stated that an employee of its contractor, S&A Mining, had died in a rockfall underground on May 14. The underground mining area where the incident occurred was closed and an internal and... 

Lundin Mining appoints new chair

By: Creamer Media Reporter      16th May 2022 Canadian base metals miner Lundin Mining has appointed Adam Lundin as chairperson to succeed Lukas Lundin, who retired from the board at the company’s 2022 meeting. Lukas Lundin recently retired as chairperson of several boards of mining companies that his family controls, including Lundin Gold... 

Troy signs away some mining rights in Brazil

By: Esmarie Iannucci     16th May 2022 Gold miner Troy Resources has struck a $4-million deal for the lease and assignment of non-core mining rights in Brazil. The company on Monday announced that it had solidified a letter of intent inked in April, allowing Brazilian company PST Empreendimentos e Participacoes over certain mining... 

2022 Mining Indaba headlines    

13th May 2022 Mining Weekly Editor Martin Creamer attended the Investing in African Mining Indaba, in Cape Town, this week and unpacks the top stories coming out of the Indaba. 

Photo of Martin Creamer
2022 Mining Indaba headlines

LBMA, WGC advance pilot of Gold Bar Integrity initiative

By: Marleny Arnoldi     13th May 2022 The London Bullion Market Association (LBMA) and the World Gold Council (WGC) have selected two vendors, blockchain technology start-up companies Axedras and Peer Ledger, to participate in a pilot phase of the organisations’ Gold Bar Integrity initiative. The initiative is aimed at digitally... 

Gold Road makes inroads in DGO takeover

By: Esmarie Iannucci     13th May 2022 Gold miner Gold Road Resource’s takeover offer for fellow listed DGO Gold is gaining traction, with Gold Road on Friday noting that the company now held a 20.35% interest in the takeover target. Gold Road in April launched the A$308-million takeover offer for DGO, offering offering 2.16 of its... 

Families desperately await news of Burkina miners trapped for 26 days

By: Reuters     13th May 2022 The families of eight missing miners in Burkina Faso desperately awaited news from rescue teams continuing on Thursday to locate the men who have been stuck underground for 26 days. There has been no communication with the miners since they were trapped more than 500 metres (1,640 ft) below... 

Mining production down 9.3% y/y in March

By: Creamer Media Reporter      12th May 2022 South Africa's mining production decreased by 9.3% year-on-year in March, with the largest negative contributors being gold, iron-ore, manganese ore and platinum group metals. Diamond production, which increased by 44.3% year-on-year, made a significant positive contribution to the overall figure. 

Electricity, water supply, safety concerns dent Harmony’s third-quarter performance

By: Creamer Media Reporter      12th May 2022 Electricity disruptions and water supply constraints contributed to a difficult production environment at the South African operations of Harmony Gold for the three months ended March 31. Production for the quarter – the third of its 2022 financial year – decreased by 11% quarter-on-quarter to... 

Caledonia posts highest first-quarter output on record

By: Marleny Arnoldi     12th May 2022 Dual-listed Caledonia Mining Corporation posted earnings before interest, taxes, depreciation and amortisation (Ebitda) of $14.6-million for the quarter ended March 31, compared with Ebitda of $9.7-million reported for the quarter ended March 31, 2021. Adjusted earnings per share (EPS) amounted... 

Mining faces 'extraordinary' pressures, says Argonaut CEO as Magino costs surge

By: Mariaan Webb     12th May 2022 While Canadian gold miner Argonaut is still reviewing the final cost estimate for the Magino project, in Ontario, CEO Larry Radford warned on Wednesday that the project's costs could increase by a further C$120-million. This compares with the C$800-million estimate that Argonaut provided before... 

The Magino project (May 2022)
The Magino project (May 2022)

Gold to play increasingly important role as climate risk asset, Heymann says

By: Darren Parker     12th May 2022 Gold is going to play an increasingly important role as a climate risk and resilience asset, World Gold Council (WGC) CFO Terry Heymann told Mining Weekly on May 11. “Gold is well understood as a risk mitigating asset and climate change is simply another lens with which to view that,” he said. 

gold bars

Large-scale gold miners should help legitimate artisanal miners access formal markets

By: Darren Parker     12th May 2022 While a large proportion of artisanal or small-scale gold mining (ASGM) in Africa is illegitimate, companies operating in the large-scale gold mining (LSGM) sector in Africa should work to support responsible and legitimate ASGM operations wherever feasible and help them access the formal global... 

World Gold Council CFO Terry Heymann
World Gold Council CFO Terry Heymann

Pan African completes R50m share buyback

By: Marleny Arnoldi     12th May 2022 Aim- and JSE-listed Pan African Resources has completed Phase 1 of its share buyback programme announced in April, having bought back 11.8-million ordinary shares for R50.3-million, or £2.55-million. About 7.5-million shares were bought back on the LSE, while the remainder was repurchased on the... 

Hochschild to invest $200m in Brazilian gold mine construction

By: Reuters     12th May 2022 Hochschild Mining plans to invest about $200-million in the construction of a gold mine in Brazil, a project it will launch in the second quarter of the year, CEO Ignacio Bustamante told Reuters on Wednesday. The construction of the Mara Rosa mine, a project it acquired last year for... 

Mining drives WA budget

By: Esmarie Iannucci     12th May 2022 A strong resources sector, which has continued to operate through much of the Covid-19 pandemic, along with higher commodity prices has assisted in Western Australia in reporting an expected operating surplus of A$5.7-billion for 2021-22. Premier Mark McGowan on Thursday pointed out that the... 

Burkina search teams hope to reach eight workers trapped in flooded mine

By: Reuters     12th May 2022 Rescue teams pumping water from a flooded Burkina Faso zinc mine in which eight workers have been trapped for almost a month are drawing closer to a refuge chamber where they may have sought safety, the government said on Wednesday. The six Burkina Faso nationals, one Tanzanian, and one... 

Processing starts at King of the Hills

By: Esmarie Iannucci     12th May 2022 Gold miner Red 5 has processed first ore through the 4.7-million tonne a year King of the Hills plant, in Western Australia. The ASX-listed company told shareholders on Thursday that the processing will initially focus on low-grade development ore, sourced primarily from stage 1 of the KOTH open... 

Buenaventura says San Gabriel gold/silver project to produce by 2024

By: Reuters     11th May 2022 Buenaventura, one of Peru's largest precious metals miners, will speed up construction of its San Gabriel gold and silver project, with a production start date no later than 2024, the company's president said. The miner recently announced the start of construction of the San Gabriel mine,... 

Barrick boosts stocks at mines to weather supply chain storm, CEO says

By: Reuters     11th May 2022 Barrick Gold has nearly doubled its inventory of some key supplies at mines to weather the disruptions caused by Russia's invasion of Ukraine, CEO Mark Bristow told Reuters on Wednesday. The world's second-biggest gold miner used to hold a month's worth of supplies at mines but tripled its... 

Barrick Gold CEO Mark Bristow
Barrick Gold CEO Mark Bristow
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