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Gold News

Opinion: Covid-19 presents opportunity to rethink impact of mines on communities

22nd April 2020 The temporary closure and imminent reopening of mines across the country in the coming weeks provides an opportunity for mine bosses to assess and rethink their impact on communities, say Louise Scholtz and Khodani Mulaudzi of the World Wide Fund for Nature South Africa (WWF-SA). In a small town... 

Gruyere's outlook remains strong - Gold Road

By: Esmarie Iannucci     22nd April 2020 Gold miner Gold Road Resources has maintained its full year production outlook for its Gruyere joint venture with South Africa’s Gold Fields, in the Pilbara. Gold production at Gruyere reached 59 595 oz during the first quarter ending March, down from the 70 023 oz produced in the previous... 

Newmont confirms ‘industry leading’ dividend

By: Mariaan Webb     22nd April 2020 Gold mining major Newmont has declared a quarterly dividend of $0.25 a share of common stock, in line with its January announcement that it would boost its dividend to about $1 a share annually. The hike represented a significant increase to its “industry leading dividend”, Newmont said in a... 

Newmont confirms ‘industry leading’ dividend

DGO raises cash

By: Esmarie Iannucci     22nd April 2020 ASX-listed DGO Gold has raised A$10-million from a share placement to sophisticated and professional investors. The junior on Wednesday noted that it placed 6.25-million shares, at a price of A$1.60 each in two tranches. The first tranche consisted of more than 1.6-million shares, and was placed... 

Endeavour Mining’s Covid-19 positive employees recover, CEO donates third of his salary to fight pandemic

By: Donna Slater     21st April 2020 Africa-focused miner Endeavour Mining on Tuesday reported that its employees who tested positive for Covid-19 had fully recovered, that its operations were continuing at normal levels and that its CEO would donate a third of his salary to efforts helping to combat the coronavirus pandemic. In a... 

Recent gold plummet the result of multiple factors, says Refinitiv

By: Donna Slater     21st April 2020 As stock markets crashed recently in response to widescale and unprecedented disruptions brought about as a result of the global spread of Covid-19 and increased uncertainty, the recent, brief and highly unexpected crash in gold prices was mainly driven by four factors, all of which were... 

Gold to reach $3 000/oz —50% above its record, Bank of America says

By: , Bloomberg     21st April 2020 Bank of America raised its 18-month gold-price target to $3 000/oz – more than 50% above the existing price record – in a report titled “The Fed can’t print gold.” Analysts including Michael Widmer increased the target from $2 000 previously, as policy makers across the globe unleash vast... 

Henderson and Garofalo take up reins at Great Panther

By: Creamer Media Reporter      21st April 2020 Vancouver-based Great Panther Mining which owns mines in Brazil, on Tuesday announced Rob Henderson new CEO, David Garofalo new board chairperson and the appointment of three new directors. Henderson is a professional engineer and seasoned mining executive, who started his career as an engineer... 

Henderson and Garofalo take up reins at Great Panther
New chairperson David Garofalo

Rio2 edges closer to developing Chile gold project

By: Donna Slater     21st April 2020 Mine developer and operator Rio2 reports it has submitted its environmental impact assessment (EIA) for the construction and operation of its Fenix gold project to Chilean authorities. Work on the EIA started in November 2018 with the preparation of an environmental baseline study, which... 

Petropavlovsk confirms Pioneer flotation plant commissioning date

By: Creamer Media Reporter      21st April 2020 Despite lockdown measures in place, Russian gold miner Petropavlovsk remains on track to commission the second flotation plant at the Pioneer mine in the fourth quarter, doubling the group’s flotation capacity from 3.6-million to 7.2-million tonnes a year. In a statement, Petropavlovsk said that... 

Debt-free Centamin reports first-quarter revenue of $222m

By: Donna Slater     21st April 2020 Gold miner Centamin earned gross revenue of $222.2-million, generated from the sale of 139 784 oz of gold at an average realised price of $1 587/oz, in the first quarter of this year. With no debt or hedging, Centamin has cash and liquid assets of $379.2-million, as at March 31, an increase of... 

Court dismisses lawsuit challenging EPA's 2019 decision on Pebble project

By: Mariaan Webb     20th April 2020 The Pebble Limited Partnership (PLP), a subsidiary of TSX-listed Northern Dynasty, is one step closer to completing the federal permitting process for its controversial gold mine in Alaska, after a US federal district court judge dismissed action brought by a collection of activist groups. The... 

Court dismisses lawsuit challenging EPA's 2019 decision on Pebble project
The Glenn Highway stands in front of the Wrangell mountains, in Alaska.

Shanta maintains production guidance, expects Kenya deal to close by mid-year

By: Marleny Arnoldi     20th April 2020 Aim-listed Shanta Gold is on track to meet its full-year production guidance of between 80 000 oz and 85 000 oz of gold, with 20 167 oz produced in the first quarter of the year. This compares with the 19 550 oz produced in the fourth quarter of last year. 

Pan African spends R3m in support of Barberton during lockdown

By: Martin Creamer     20th April 2020 Gold mining company Pan African Resources has ramped up support for its 2 600 Barberton Mines’ employees as well as the local communities with R3-million expenditure on hygiene, water, and food hampers to the Fairview, Consort and Sheba operations, plus an additional allocation to near-mine... 

Pan African spends R3m in support of Barberton during lockdown
Pan Africans' processing plant in Barberton.

Resolute delivers strong quarter, production unaffected by pandemic

By: Tasneem Bulbulia     20th April 2020 ASX-listed Resolute  delivered a solid production result for the quarter ended March 31, while completing the sale of Ravenswood and achieving important debt refinancing objectives, CEO and MD John Welborn said on April 20.  “We have started 2020 with a strong operating result, delivering 100 000... 

Nordgold to build new power plant at Guinea mine

By: Tasneem Bulbulia     20th April 2020 Diversified gold producer Nordgold Group has signed an engineering, procurement and construction agreement with Chinese manufacturing service group SUMEC, a key member of China National Machinery Industry Corporation, to design and build a 33 MW power plant at its Lefa mine – one of the largest... 

Russia to grant full export rights to gold miners amid coronavirus

By: Reuters     20th April 2020 Russia will start granting perpetual licences for miners to export gold instead of one-off rights, a decree showed on Monday, to support them in shipping metal overseas independently as demand in its regular trade chain is hit by the coronavirus. Russian commercial banks, usually the main gold... 

Russia to grant full export rights to gold miners amid coronavirus
Russian miner Polymetal's Amursk operation.

Harmony Gold committed to safe resumption of underground mines

By: Martin Creamer     20th April 2020 Gold mining company Harmony said on Monday that it was committed to the safe resumption of its nine underground operations that had been placed on care and maintenance in response to the Covid-19 pandemic. Care and maintenance at the underground mines during the lockdown included the continued... 

Harmony Gold committed to safe resumption of underground mines
Photo by Creamer Media's Donna Slater
Harmony Gold CEO Peter Steenkamp

London, gold hub for centuries, eyes delivery ‘around the world’

By: , Bloomberg     20th April 2020 The London gold market will need to allow delivery outside of the city if the coronavirus pandemic leads to more stringent travel restrictions, the CEO of the London Bullion Market Association said. The UK’s capital has been a key hub for global gold trading since at least 1732, when the Bank of... 

Medusa posts solid quarter

By: Esmarie Iannucci     20th April 2020 Gold miner Medusa Mining has reported an increase in production from its Co-O mine, in the Philippines, during the three months to March, compared with the previous quarter. Gold production in the March quarter reached 24 802 oz, up from the 20 792 oz produced in the December quarter, with gold... 

More gold promised at Theta

By: Esmarie Iannucci     20th April 2020 An optimised mine schedule for the Theta openpit starter project, in South Africa, has added 40 000 oz of gold, ASX-listed Theta Gold Mines said on Monday. The optimised mine schedule reflects an increase in the production rate from 500 000 t/y to 600 000 t/y, and includes mining of several old... 

RBPlat begins phased restart with strict Covid-19 safeguards

By: Martin Creamer     18th April 2020 Platinum group metals (PGMs) mining company Royal Bafokeng Platinum (RBPlat) has begun to phase up to 50% of operational capacity while taking all practicable measures to reduce the risk, exposure and spread of the Covid-19 pandemic to secure the wellbeing of its employees. To mitigate the impact... 

RBPlat begins phased restart with strict Covid-19 safeguards
Photo by Creamer Media
Royal Bafokeng Platinum CEO Steve Phiri

Newmont to reopen some Canadian, South American mines in 'days or weeks'

By: Reuters     18th April 2020 Newmont is looking to restart in as soon as days some of the four Canadian and South American gold mines that it shut last month to curb the spread of the new coronavirus, CEO Tom Palmer said on Friday. The world’s biggest gold miner wound down operations at its Yanacocha mine in Peru in... 

Newmont to reopen some Canadian, South American mines in 'days or weeks'
Newmont CEO Tom Palmer

Nervous bankers leave the gold market stuck in disconnect

By: , Bloomberg     17th April 2020 Gold has rarely been a hotter trade, but the world’s two most important markets remain out of sync. In New York, the price of gold topped $1 750 for the first time in seven years on April 9. In London, it still hasn’t caught up. The dislocation first blew out in late March, when disruptions from... 

Nervous bankers leave the gold market stuck in disconnect

Goldplat to restart South African operations on a reduced basis

By: Simone Liedtke     17th April 2020 Aim-listed Goldplat will restart its South Africans operations on a reduced basis by April 20. Mineral Resources and Energy Minister Gwede Mantashe on April 16 announced that South African mining operations will be allowed to resume at a 50% operating capacity from April 17. 

Impala CE granted bail after appearance on Covid-19 charge 

By: Martin Creamer     17th April 2020 The arrest of the chief executive of Implats' Implala Platinum Rustenburg mining operations was on Friday welcomed by the Mineral Resources and Energy Parliamentary chairperson Sahlulele Luzipo, who on Thursday called on law enforcement agencies to act decisively against mining executives who... 

Impala CE granted bail after appearance on Covid-19 charge
Photo by Creamer Media
Impala Platinum Rustenburg CE Mark Munroe

Polymetal has a 'clear path to full ownership of Veduga'

By: Mariaan Webb     17th April 2020 Russian gold mining company Polymetal on Friday announced a transaction to streamline the ownership structure of the Veduga deposit and aid in advancing project development. Veduga, which is located in the Krasnoyarsk region of Russia, was on Polymetal’s chopping block until it last year doubled... 

Karlawinda reserves increase

By: Esmarie Iannucci     17th April 2020 Junior Capricorn Metals has reported a 35% increase to the ore reserve at its Karlawinda gold project, in Western Australia. The project’s ore reserve has now increased from 892 000 oz to more than 1.2-million ounces, while the mineral resource has increased by 41%, from 2.14-million ounces to... 

Sandfire posts solid March quarter

By: Esmarie Iannucci     17th April 2020 Copper/gold miner Sandfire Resources has reported a solid quarter of production during the three months to March, but has withdrawn its full year production guidance amid the Covid-19 pandemic. The miner on Friday reported that copper production for the March quarter reached 17 936 t, down... 

New gold shaft to be commissioned this year

17th April 2020 Gold mining company Caledonia Mining’s Blanket gold mine, in Zimbabwe, expects to commission its new central shaft in the fourth quarter of this year, following which production will ramp up. Shaft sinking at the central shaft was completed in July last year to the target depth of 1 204 m. Since... 

New gold shaft to be commissioned this year
DEEPENING RETURNS The well-established Blanket gold mine will see an increase in production once the new central shaft project is completed later this year

Minerals Council welcomes revised Covid-19 regulations

By: Martin Creamer     16th April 2020 The Minerals Council South Africa on Thursday welcomed the amendments to the Disaster Management Act regulations as they pertain to mining. These regulations allow a phase-up in mining capacity to 50% during the lockdown period, but with all the preventative and mitigating controls in place to... 

Minerals Council welcomes revised Covid-19 regulations
Minerals Council CEO Roger Baxter

B2Gold reports positive Covid-19 case at Fekola exploration camp

By: Creamer Media Reporter      16th April 2020 TSX-listed B2Gold has its first positive case of Covid-19 at its operations in Mali. The company on Thursday reported that an employee at the Fekola exploration camp had tested positive for the virus, but said that the nearby mine remained Covid-19 free and that operations at the gold mine were... 

Ubank donates R2m to Solidarity Fund, assists miners' families

By: Donna Slater     16th April 2020 Financial services provider Ubank, together with the Mineworkers Investment Company (MIC), have joined forces to support government to combat the negative financial impacts of Covid-19 by contributing R2-million towards relief efforts. Of this, R1-million will comprise Ubank’s contribution... 

Mining may resume at 50% capacity – Minister 

By: Martin Creamer     16th April 2020 All mining operations, excluding collieries supplying Eskom which have been permitted to operate at full capacity throughout national lockdown, may now resume at 50% capacity during the remaining lockdown days, Mineral Resources and Energy Minister Gwede Mantashe said on Thursday. Thereafter,... 

Mining may resume at 50% capacity – Minister
Photo by Veronica Creamer
Mineral Resources Minister Gwede Matashe during virtual media conference.

SolGold shortlisting traders to finalise Alpala offtake, funding support

By: Mariaan Webb     16th April 2020 Dual-listed SolGold has received strong responses from leading commodity traders to its recent invitation to submit expression of interests (EoI) for the offtake of copper/gold/silver concentrate from its Alpala project, in Ecuador. The company said the high-quality of the concentrate from its... 

PEA under way at Altus’ Diba gold project in Mali

By: Tasneem Bulbulia     16th April 2020 Dual-listed Altus Strategies has appointed independent consulting firm Mining Plus UK to update the historic resource and complete a preliminary economic assessment (PEA) for an openpit oxide gold mine at the company's Diba project, in western Mali. Diba is strategically located 13 km south of... 

Gold giant Newmont says metal could top $2 000 on virus stimulus

By: , Bloomberg     16th April 2020 Gold could top $2 000 an ounce and will remain elevated over the next five years as the global economy contends with the impact of the coronavirus pandemic, according to the head of Newmont, the world’s top miner of the precious metal. “The level of stimulus globally that’s going into the... 

Gold giant Newmont says metal could top $2 000 on virus stimulus
Newmont CEO Tom Palmer

Kodal secures exploration licence extensions in Côte d’Ivoire

By: Marleny Arnoldi     16th April 2020 Aim-listed gold project developer Kodal Minerals has received renewals on its exploration licences for the Dabakala and Korhogo concessions, in Côte d’Ivoire, for a further three years to April 2023. The company is, however, still awaiting an exploration licence renewal for its Boundiali... 

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