R/€ = 16.98 Change: 0.06
R/$ = 13.96 Change: 0.09
Au 1839.17 $/oz Change: 4.31
Pt 1249.87 $/oz Change: -11.63

Gold News

St Barbara hits milestone at Lake Wells

By: Esmarie Iannucci     8th April 2021 Gold miner St Barbara has earned a 70% interest in fellow-listed Australian Potash’ Lake Wells gold project, in Western Australia, by meeting its expenditure commitments. The two companies in 2018 struck an earn-in and joint venture (JV) agreement over the Lake Wells project, under which St... 

Aurelia starts PFS at Federation

By: Esmarie Iannucci     8th April 2021 The board of ASX-listed Aurelia Metals have greenlit the start of a feasibility study for the Federation base and precious metals project, in New South Wales, following a positive scoping study. The scoping study confirmed that the Federation deposit was amenable to underground mining, and could... 

Central banks turn back to net gold purchasing in February

By: Donna Slater     7th April 2021 Gold market development organisation the World Gold Council (WGC) reports that, collectively, central banks, having recently oscillated between being net buyers and sellers of gold, have tipped back into being net buyers in February. In the month, 8.8 t was added to global gold reserves, with... 

IronRidge starts Kineta North drilling campaign

By: Donna Slater     7th April 2021 Aim-listed explorer IronRidge Resources has commenced with 2 500 m of reverse circulation (RC) drilling at the Kineta North gold licence in north-eastern Côte d'Ivoire, West Africa. With expected completion in the second quarter of the year, the drilling is designed to test the Kineta North... 

Pure Gold drilling hits grades of 56.6 g/t

By: Creamer Media Reporter      7th April 2021 Ontario-based Pure Gold Mining’s stock closed 5% higher on Tuesday, after the company reported high-grade drill intercepts from its underground drilling programme at its namesake mine in Red Lake. The results included 56.6 g/t gold over 1 m; 8.7 g/t gold over 7.9 m, including 44.4 g.t over 1 m;... 

More production targeted at Syama

By: Esmarie Iannucci     7th April 2021 Gold production at the Syama mine, in Mali, is expected to increase to between 250 000 oz and 300 000 oz a year to 2029, ASX- and LSE-listed Resolute Mining reported. The new life-of-mine (LOM) production targets compared with the 214 360 oz of gold produced in the 2020 financial year.  

More production targeted at Syama

Ramelius reaches targets in March Q

By: Esmarie Iannucci     7th April 2021 Gold miner Ramelius Resources on Wednesday reported that gold production for the March quarter had reached 66 029 oz. While gold production for the March quarter was down from the 72 896 oz produced in the December quarter, it still fell well within the production guidance of between 65 000 oz... 

Value of iridium in electrolysis could top R90bn mark in years ahead – HySA 

By: Martin Creamer     7th April 2021 The value of iridium for proton exchange membrane (PEM) water electrolysis technology alone could exceed R90-billion in the next ten to 20 years. This is the view of Professor Dmitri Bessarabov, the director of the Department of Science and Innovation's National Centre of Competence: Hydrogen... 

Value of iridium in electrolysis could top R90bn mark in years ahead – HySA
Value chain as outlined by Professor Dmitri Bessarabov, the director of the Department of Science and Innovation's National Centre of Competence.

Oriole secures controlling stake in Reservoir Minerals Cameroon deal

By: Donna Slater     6th April 2021 West African explorer Oriole Resources has secured a controlling interest of 51% in Reservoir Minerals Cameroon (RMC) – a former subsidiary of Bureau d'Etudes et d'Investigations Géologico-minières, Géotechniques et Géophysiques (BEIG3) – for its early-stage exploration licences in Cameroon.... 

Caledonia’s increases dividend as Central Shaft brought into operation 

By: Tasneem Bulbulia     6th April 2021 Gold miner Caledonia Mining’s Central Shaft at the Blanket gold mine, in Zimbabwe, is now fully operational. “I am delighted to announce that our new Central Shaft, which is the deepest shaft of any gold mine in Zimbabwe, is fully operational. We can now start to hoist rock, men and material on a... 

Kirkland Lake reveals mine plan for Detour Lake

By: Esmarie Iannucci     6th April 2021 Gold miner Kirkland Lake Gold has revealed signing production growth aspirations at its Detour Lake gold project, in Ontario. In a new life-of-mine plan for the mine, Kirkland was expecting gold production between 2021 and 2024 to reach between 680 000 oz and 720 000 oz at the Canadian mine,... 

Kirkland Lake reveals mine plan for Detour Lake

Agreement on Porgera reopening imminent

By: Mariaan Webb     6th April 2021 Global bullion major Barrick is hopeful that Porgera mine – which has been shut for about a year now – will reopen soon. Citing a statement from Papua New Guinea Prime Minister James Marape, Barrick said on Monday that an agreement to reopen the mine was “imminent”. The agreement, the miner... 

Agreement on Porgera reopening imminent

Abujar economics proven in PFS

By: Esmarie Iannucci     6th April 2021 A prefeasibility study into the Abujar gold project, in Cote d’Ivoire, has forecast that an openpit operation could produce some 200 000 oz of gold in the first year of production. ASX-listed Tietto Minerals told shareholders that the project would produce more than 168 000 oz/y of gold over the... 

Senegal project presents high-grade results

2nd April 2021 Canadian mineral exploration company Thor Explorations has reported an encouraging set of drill results from the southern Makosa Tail prospect at its Douta project, in Senegal. The Douta gold project has a northeast-trending permit that covers an area of 103 km2 and is located within the Kéniéba... 

‘Smart Mines’ are the future

2nd April 2021 West Africa is one of the fastest growing mining regions on the continent with vast stretches of unexplored land as well as limited technology implementation, which creates many and varied opportunities for companies such as service provider Minetec Smart Mining. Minetec Smart Mining CEO Gurban... 

‘Smart Mines’ are  the future
GURBAN ZEYNALOV Minetec Smart Mining is looking to expand its geographic footprint by offering its technology solutions to midtier mining companies operating in West Africa

Investment hindered by illegal mining, other challenges

By: Mc'Kyla Nortje     2nd April 2021 While Ghana has benefited from significant long-term investment, it has also faced significant challenges over the years, the most notable being the significant and justifiable concerns regarding illegal mining operations, as well as regional security and stability, says law firm Beech Veltman... 

Investment hindered by illegal mining, other challenges
WARREN BEECH West Africa, and its institutions, such as the Economic Community of West African States, will need to continue relying on the cooperative, regional approach that has resulted in substantial benefits

Pilot projects start at mines

By: Cameron Mackay     2nd April 2021 Drilling technology and services provider Rosond is involved in the development of new drilling solutions and methodologies for pilot projects at local underground mines. These projects involve using innovations, such as drilling using flushed air or foam instead of water, as well as using... 

Pilot projects start at mines
GROUNDBREAKING DRILLING The company’s Rocor machines are standardised and fully interchangeable drills. They can be used above and below ground, and can be truck-, skid- or crawler-mounted

Company focused on autonomous equipment

By: Cameron Mackay     2nd April 2021 Local specialised original-equipment manufacturer (OEM) Rham Equipment is focusing on the development of battery operated, autonomous underground mining equipment, says Rham Equipment capital sales manager Alan Mabbett, who points out that many miners are looking to further develop their deep... 

Company focused on autonomous equipment
TUNNEL SYNDROME Positive metal prices have increased the cash flow of local miners, which could allow for more innovative ways to extract minerals from deeper underground

Tech advancements will address productivity challanges

2nd April 2021 Although mining terrain, minerals and the earth’s surface materials may remain largely the same for years to come, the development in the technology used to extract these minerals has changed dramatically, notes Australian-based Austin Engineering in a press release last month. The company adds... 

Tech advancements will address productivity challanges
PULLING OUT ALL THE STOPS The Austin team works closely with steel manufacturers to get optimal performance, both structurally and for its abrasion-resistant properties

How South Africa can unlock its exploration potential ­– Adrian Reynolds   

By: Martin Creamer     1st April 2021 Of four factors required to attract investment in exploration, economic and fiscal stability is the most important, says highly experienced geological and mining consultant and nonexecutive company director Adrian Reynolds. Reynolds spoke to Mining Weekly in a Zoom interview about the factors... 

How South Africa can unlock its exploration potential ­– Adrian Reynolds
Geological and mining consultant Adrian Reynolds interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Kilimapesa sale completion date shifted to April 30 - Goldplat

By: Donna Slater     1st April 2021 Aim-listed gold producer Goldplat is “pleased with the substantial progress” that has been achieved over the past month in satisfying a number of key conditions in the sale of the Kilimapesa gold mine, in Kenya. Thus far, the company has progressed, taking receipt of government consent and... 

Petropavlovsk’s new CEO emphasises growth over merger with UGC

By: Bloomberg     1st April 2021 Petropavlovsk’s new CEO Denis Alexandrov said the gold miner will focus on expanding output from existing assets before considering mergers. Last year, Petropavlovsk’s biggest shareholder -- Uzhuralzoloto Group of Companies -- joined forces with other investors to oust the company’s founders... 

Petropavlovsk’s new CEO emphasises growth over merger with UGC

Pure Gold progressing with mine and mill ramp-up

By: Donna Slater     1st April 2021 By the end of the first quarter, emerging gold producer Pure Gold Mining had progressed with several ramp-up initiatives, including operating the milling facility at its PureGold mine, in Ontario, at greater than 75% of nameplate capacity. The company reports that on multiple consecutive days,... 

French Supreme Court overturns lower court’s Rusoro damages award 

By: Donna Slater     1st April 2021 Canadian junior Rusoro Mining reports that the French Supreme Court – the Cour de Cassation – has overturned the decision of the Paris Court of Appeal, which had annulled part of the damages portion of the arbitral award previously rendered in favour of the company. In August 2016, Rusoro was... 

OceanaGold confirms Martha Underground economics

By: Esmarie Iannucci     1st April 2021 Dual listed gold miner OceanaGold has released a feasibility study on its Martha Underground operation, at the Waihi project in New Zealand, outlining an initial reserve for the project and updating the resource. The feasibility study estimated that OceanaGold would spend more than $60-million in... 

Anglogold plays down merger prospects amid deal talk

By: Reuters     1st April 2021 South Africa's Anglogold Ashanti does not need to pursue mergers and won't add scale for its own sake, its interim chief executive said on Wednesday, dampening speculation it could take part in further deals in the sector. Sibanye-Stillwater CEO Neal Froneman this month floated the idea of a... 

Silver is smart metal that fits Sibanye-Stillwater's green space – Froneman 

By: Martin Creamer     31st March 2021 Silver is a smart high-technology metal that fits into Sibanye-Stillwater’s green metals space. This was made clear by Sibanye-Stillwater CEO Neal Froneman during Wednesday’s Mining Indaba gold roundtable, moderated by Nedbank CIB lead analyst Arnold van Graan and covered by Mining Weekly. 

Silver is smart metal that fits Sibanye-Stillwater's green space – Froneman
Photo by Creamer Media
From top left, clockwise, Jeff Quartermaine, Arnold van Graan, Neal Froneman, Christine Ramon and Mark Bristow.

Oriole announces proof of concept confirmation at Bibemi

By: Tasneem Bulbulia     31st March 2021 Aim-listed Oriole Resources has recorded an update on its ongoing maiden diamond drilling programme at the Bibemi gold project, in Cameroon, where it is earning up to a 90% interest. Results from the first hole of a planned 28-hole programme have returned 1 m grading 4.09 g/t gold and 1 m grading... 

Petropavlovsk management restructuring under way

By: Mariaan Webb     31st March 2021 A full management restructuring is under way at Russia-focused gold miner Petropavlovsk to address management oversight and talent gaps within the existing structure, the London-listed company said on Wednesday. Petropavlovsk was plunged into corporate turmoil last year when rival Russian miner... 

NUM seeks 15% wage hike from gold miners

By: Reuters     31st March 2021 South Africa’s National Union of Mineworkers (NUM) said on Wednesday it planned to seek a 15% annual wage hike in gold sector over the three year period. Higher bullion prices, which reached a record in August last year, boosted 2020 earnings and offered gold miners a lifeline following... 

Equinox sells portion of Solaris shareholding

By: Mariaan Webb     31st March 2021 In response to a request from Solaris Resources, Equinox Gold has agreed to sell a portion of its shareholding in that company to Augusta Investments and a strategic shareholder for about C$82.5-million. Equinox sold ten-million common shares in Solaris and grated the buyers warrants to purchase... 

Newmont executes $3bn sustainability-linked credit facility

By: Creamer Media Reporter      31st March 2021 The world’s leading bullion miner, Newmont, on Tuesday announced a $3-billion sustainability-linked credit facility, which CEO Tom Palmer said demonstrated the group’s “unwavering commitment to industry-leading” environmental, social and governance (ESG) practices. The credit facility includes a... 

Newmont executes $3bn sustainability-linked credit facility

Gascoyne reduces bank debt

By: Esmarie Iannucci     31st March 2021 Gold miner Gascoyne Resources has reduced its bank debt by some 45%. The miner has made a voluntary debt repayment of A$14.6-million to Investec, leaving its bank debt at the end of March at around A$17.5-million. 

Newcrest reports resource at Red Chris

By: Esmarie Iannucci     31st March 2021 Triple-listed gold miner Newcrest Mining has reported an initial measured and indicated mineral resource of 980-million tonnes, grading 0.41 g/t gold and 0.38% copper for 13-million ounces of contained gold and 3.7-million tonnes of contained copper for its Red Chris operation, in British... 

La Mancha’s $200m investment in Endeavour completed

By: Creamer Media Reporter      31st March 2021 Africa-focused miner Endeavour Mining has completed the previously announced investment by La Mancha Holding - a business owned by the Sawiris Family of Egypt. Endeavour issued 8.91-million ordinary shares to La Mancha for aggregate net proceeds of $200-million at $22.45 a share, or C$29.36 a... 

Goldplat COO resigns

By: Donna Slater     30th March 2021 Aim-listed gold producer Goldplat, which owns gold recovery operations in South Africa and Ghana, reports that its COO Hansie Van Vreden has resigned to take up the position of CEO of a specialist mining services company. Goldplat and Van Vreden have agreed that he will remain at the company... 

Hummingbird completes successful 2020 Yanfolila exploration

By: Donna Slater     30th March 2021 Aim-listed Hummingbird Resources discovered 255 600 oz of gold across three key focus areas (Sanioumale East, Sanioumale West and Komana East) of the Yanfolila mine, in Mali, in 2020. The exploration programme, in which it invested $5-million in 2020, was aimed at improving confidence in the... 

Gold extends slide after Biden flags rapid progress on vaccines

By: Bloomberg     30th March 2021 Gold extended its biggest fall in more than three weeks as President Joe Biden prepared to unveil big spending plans after announcing major progress on rolling out vaccines. Biden said 90% of US adults will be eligible for Covid-19 vaccines by April 19, boosting risk appetites even as they... 

Gold extends slide after Biden flags rapid progress on vaccines
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