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Gold News

Unionised employees at Kinross’ mine in Mauritania go on strike

By: Simone Liedtke     5th May 2020 Unionised employees at Canadian gold miner Kinross Gold’s Tasiast mine, in Mauritania, have initiated strike action. Kinross, who disagrees with the basis for the strike, on May 5 said that it remained open to discussions with the staff delegates to resolve the situation. 

Gran Colombia invests in renewable energy

By: Creamer Media Reporter      5th May 2020 TSX-listed Gran Colombia is investing in renewable energy and, through its Segovia operations, will acquire an 11.2 MW solar project in the Tolima region of Colombia. Gran Colombia has signed a letter of intent with renewable energy developer and independent power producer Renergetica’s Colombia... 

Central banks continue to buy gold as safe haven asset

By: Marleny Arnoldi     5th May 2020 The World Gold Council (WGC) says central banks have continued to be net purchasers of gold in March, adding 46 t to global reserves. However, central banks added 4% less gold to reserves compared with March last year.  

Sulphide project at Simberi under review

By: Esmarie Iannucci     5th May 2020 Gold miner St Barbara will undertake a feasibility study (FS) into a sulphide project at its Simberi operation, in Papua New Guinea, after a prefeasibility study (PFS) proved positive. The PFS, which was completed in March this year, built on a 2016 PFS, and showed that the sulphide project... 

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... 

Iamgold trims its 2020 guidance

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... 

Agnico Eagle issues new 2020 production, capex guidance
Agnico Eagle CEO Sean Boyd

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... 

Barrick welcomes court decision over Papua New Guinea gold mine
Barrick CEO Mark Bristow

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,... 

Competition Tribunal approves Harmony-AngloGold transaction
Mponeng Gold Mine.

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. 

Covid-positive Impala Canada employee dies
An ore pile at Impala Canada.

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... 

Newcrest raises major cash for financing buy
Newcrest MD and CEO Sandeep Biswas

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... 

Gold still has important role to play, despite Covid-19, says World Gold Council

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.... 

RBPlat bucks turbulent trend with stable first-quarter production
Photo by Creamer Media's Donna Slater
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... 

West African buys Burkina Faso deposit from B2Gold

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... 

World's mine workers resist quick restart amid coronavirus
Peru's Antamina copper mine has done 600 tests for Covid-19, with 210 testing positive. About 87% of those testing positive are asymptomatic.

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... 

Surging profits seen as no safety net for winning gold stocks

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... 

Seabridge presents alternate approach for developing KSM

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... 

Morale high as Covid-masked South African miners get back to work
Mineworkers with personal protective equipment.
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