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Gold News

New Gold puts almost C$25m in Harte Gold

By: Creamer Media Reporter      19th March 2021 Toronto-listed New Gold has agreed to make a strategic investment in fellow-listed Harte Gold by way of a private placement subscription of 154 940 153 shares at C$0.16 a share. This will raise Harte Gold gross proceeds of C$24.8-million and provide New Gold with a 14.9% interest in the... 

Newcrest in talks with govt as PNG restrictions tighten

By: Esmarie Iannucci     19th March 2021 Gold miner Newcrest Mining on Friday said that it would consult with the Australian government to better understand the details of a travel suspension to Papua New Guinea (PNG), amid fears of Covid-19 outbreak. Passenger flights from PNG to Cairns have been suspended this week, while passenger... 

Tackling issues would boost investment – analyst

By: Cameron Mackay     19th March 2021 Although the local mining industry is faring better as an investment destination than it was three years ago, local financial institution Nedbank CIB equity analyst Arnold Van Graan argues that certain challenges need to be addressed to foster a more ideal investment climate for the industry. “In... 

Tackling issues would boost investment – analyst
BOUNCING BACK Higher metal prices have helped sustain the local industry though the Covid-19 pandemic, as the industry should benefit on the back of improving global sentiment

Barrick sees opportunity for 'major' new discoveries at Nevada JV

By: Mariaan Webb     18th March 2021 Having met all its key performance indicators in 2020, the focus of the Barrick-operated Nevada Gold Mines (NGM) joint venture with Newmont is shifting to the hunt for new discoveries and resource additions. Barrick CEO Mark Bristow said on Thursday that unlocking the full potential of the... 

Barrick sees opportunity for 'major' new discoveries at Nevada JV

Kyrgyzstan tax service revives claims against Kumtor – Centerra

By: Mariaan Webb     18th March 2021 The State Tax Service in Kyrgyzstan has revived previously-terminated claims and instituted a new claim against the Kumtor mine, Canadian owner Centerra Gold confirmed on Thursday, but said it believed the claims were exaggerated and without merit. In total, the claims amount to about... 

Kyrgyzstan tax service revives claims against Kumtor – Centerra

Garalo report points to two-million-ounce potential

By: Donna Slater     18th March 2021 Gold mine developer Contango Holdings reports that a National Instrument 43-101 independent technical report has confirmed the potential for two-million ounces gold at its Garalo project. in the Sikasso region of southern Mali. The report also finds that the two target zones – G1 and G3 targets... 

Barrick says Tanzania’s Magufuli was a ‘visionary’

By: Creamer Media Reporter      18th March 2021 Bullion major Barrick Gold president and CEO Mark Bristow on Thursday described the late President of Tanzania, John Magufuli, as a “visionary statesmen who saw the value of a thriving mining sector”. Magufuli died on Wednesday at the age of 61 from a heart condition. 

Barrick says Tanzania’s Magufuli was a ‘visionary’
John Magufuli

Hawke’s Point joins Rox to progress Youanmi

By: Mariaan Webb     18th March 2021 Gold and nickel company Rox Resources on Thursday announced an agreement with Hawke’s Point to subscribe for $11-million in new fully paid ordinary shares in Rox, plus one free attaching option for every two shares subscribed. Rox will place 314 285 714 shares to Hawke’s Point, the mining... 

Successful exploration sees Auteco lift stake in Pickle Crow to 51%

By: Mariaan Webb     18th March 2021 ASX-listed Auteco Minerals has completed the $5-million expenditure requirement to earn it a 51% interest in TSX-listed First Mining’s Pickle Crow gold project, in Ontario. Auteco will proceed to issue 100-million ordinary shares to First Mining Gold, subject to shareholder approval, to complete... 

Vladislav Sviblov swoops on Trans Siberian Gold

By: Mariaan Webb     18th March 2021 Horvik, a Cyprus-registered company indirectly owned by Vladislav Sviblov, has agreed to acquire 51.2% of the shares of London-listed Trans Siberian Gold (TSG) from its major shareholders for 118p and plans to announce a recommended preconditional mandatory cash offer for the remaining shares. 

Vladislav Sviblov swoops on Trans Siberian Gold

Nordgold commits to net zero carbon dioxide emissions by 2050

By: Creamer Media Reporter      18th March 2021 Internationally diversified gold producer Nordgold has committed to achieving net zero carbon dioxide emissions by 2050. To meet this target, Nordgold will further develop its criteria for all new projects, including new requirements for renewable power generation, green mining fleets and... 

Galane expands with US near-term production asset

By: Mariaan Webb     18th March 2021 TSX-V-listed Galane Gold has moved to reduce its country risk by adding a new project in the US to its portfolio, which currently comprises mining operations in Botswana and South Africa. The gold miner on Wednesday announced that it would buy the Summit mine and 240 t/d Banner mill in New... 

Greek lawmakers seal revised deal to restart Eldorado's mines investment

By: Reuters     18th March 2021 Greek lawmakers approved a revised contract with Canada's Eldorado Gold on Wednesday, opening the way for restarting a major mining investment stalled for years over licensing and environmental concerns. The Vancouver-based miner has been embroiled for years in a standoff with Greece over... 

Greek lawmakers seal revised deal to restart Eldorado's mines investment

Mexican President pressures Canadian miner over union dispute

By: Reuters     18th March 2021 Mexico could revoke a concession held by Canadian miner Americas Gold and Silver Corp in northern Mexico if it does not accept its new trade union representation there, President Andres Manuel Lopez Obrador said on Wednesday. Speaking at a regular news conference, Lopez Obrador said he would... 

Mexican President pressures Canadian miner over union dispute
Mexico President Andres Manuel Lopez Obrador

Northern Cape ‘elephant country' needs exploration boost, says explorer  

By: Martin Creamer     17th March 2021 South Africa is still "elephant country" and needs to boost exploration in the Northern Cape's highly prospective Namaqua metamorphic geological province in particular, says PGM Management MD Gerhard Meintjes. Meintjes, a private explorer who spoke to Mining Weekly in a Zoom interview, focuses on... 

Northern Cape ‘elephant country' needs exploration boost, says explorer
PGM Management MD Gerhard Meintjes interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Caledonia to be included in Global Junior Gold Miners Index for the first time

By: Simone Liedtke     17th March 2021 Caledonia Mining is to be included in the MVIS Global Junior Gold Miners (GDXJ) Index for the first time. This follows the index’s first-quarter review for 2021. The GDXJ index forms the basis of various passive gold sector investment funds in the North American market, the most significant being... 

Aton inks loan facility with major shareholder, CEO retires

By: Simone Liedtke     17th March 2021 TSX-V-listed Aton Resources has entered into a bridge loan facility with Ou Moonrider, a significant shareholder. Pursuant to the facility, the corporation may borrow up to C$1-million from Ou Moonrider. 

Vast exec team on site to coordinate Baita Plai mine plan

By: Mariaan Webb     17th March 2021 The full executive team of London-listed Vast Resources, including COO Craig Harvey, is on site in Romania to coordinate the implementation of the revised mine plan for its Baita Plai polymetallic mine. The team also includes CEO Andrew Prelea, Vast Baita Plai GM Marcus Brewster, CFO Paul... 

Vast exec team on site to coordinate Baita Plai mine plan

King of the Hills fully funded

By: Esmarie Iannucci     17th March 2021 Gold miner Red 5 has secured a A$175-million finance facility to fully fund the development of its 2.4-million ounce King of the Hills project, in Western Australia. The company told shareholders on Thursday that it had executed a commitment from a syndicate comprising three banks for a... 

Harmony employee killed in engineering-related incident at Moab Khotsong

By: Creamer Media Reporter      16th March 2021 Gold miner Harmony Gold Mining reports that an employee had been fatally injured at its Moab Khotsong mine, in Orkney, in the North West, following an engineering-related incident on March 15. “Safety is a foundational value at Harmony and it is of utmost importance that we ensure a safe working... 

Capital awarded two new contracts at AngloGold’s Geita

By: Simone Liedtke     16th March 2021 Mining services company Capital has been awarded two new long-term three-year contracts at AngloGold Ashanti’s Geita gold mine, in Tanzania. The new contracts are scheduled to start on April 1, and are expected to generate revenues of $65-million over the contract term. 

Morocco's Managem takes 65% stake of Sudan’s Gabagba Gold mine

By: Reuters     16th March 2021 Morocco's leading mining firm Managem said on Tuesday it has completed a deal with China's Wanbao mining to control 65% of Sudan's Gabgaba gold mine extension projects. Extension plans are expected to cost up and related to $250-million to increase output to 200 000 oz, Managem said in a statement. 

Condor Gold buys SAG mill from First Majestic

By: Mariaan Webb     16th March 2021 Aim- and TSX-listed Condor Gold has entered into an agreement to buy a new semi-autogenous mill (SAG) mill from First Majestic to bring the La India project, in Nicaragua, into production. The purchase consideration is about $6.5-million, of which $3-million will be paid in shares of the... 

Community blocks access to McEwen’s El Gallo

By: Creamer Media Reporter      16th March 2021 Operations at Canadian miner McEwen Mining’s El Gallo project, in Mexico, have been temporarily suspended as the result of a blockade of the main access to the property by nearby communities. McEwen explained on Monday that certain individuals involved in the blockade believed that the yearly... 

Gold X stock shines on Gran Colombia buyout

By: Mariaan Webb     16th March 2021 The share price of Canadian junior Gold X Mining rose sharply on Monday, after the company announced that it has agreed to be bought out by TSX-listed Gran Colombia in an all-share transaction valued at C$319-million. Gold X would be acquired in exchange for Gran Colombia common shares on the... 

Gold X stock shines on Gran Colombia buyout

Wiluna's underground resource more than doubles

By: Esmarie Iannucci     16th March 2021 Gold developer Wiluna Mining has reported a 142% increase in its gold reserves at its Wiluna underground operation, in Western Australia. The project is now estimated to host an underground ore reserve of 4.33-million tonnes, grading 4.474 g/t gold for 661 000 oz of contained gold, up from the... 

Argentine President targeted by mob fighting to keep out mines

By: Bloomberg     16th March 2021 Argentine President Alberto Fernandez had to dodge protesters to get onto a minibus that was then pelted with stones as environmentalists battle a move to give mining the green light in Chubut. In the Patagonian province to check on efforts to extinguish forest fires, Fernandez was caught off... 

Sudan to develop gold mines once linked to warlord’s family

By: Bloomberg     15th March 2021 Sudan dispatched a research team to revitalize a network of gold mines in Darfur previously linked to the family of the country’s most powerful militia leader. The team from the General Authority for Geological Research seeks to resume production at the site in the Jebel Amer region of North... 

BlackRock-backed Russian gold miner starts $500m IPO

By: Bloomberg     15th March 2021 GV Gold, a Russian gold miner backed by BlackRock, is planning an initial public offering in Moscow that may raise as much as $500-million. A group of shareholders including BlackRock plans to sell shares, GV Gold said in a statement on Monday, without giving further details. They’re seeking a... 

BlackRock-backed Russian gold miner starts $500m IPO
GV Gold, also known as Vysochaishy, operates several Siberian deposits.

Evolution makes C$343m play for Battle North

By: Esmarie Iannucci     15th March 2021 Gold miner Evolution Mining has struck a C$343-million deal to acquire TSX-listed Battle North Gold Corporation, to gain ownership of the Bateman gold project in the Red Lake gold district, in Ontario. Evolution executive chairperson Jake Klein said on Monday that the acquisition of Battle North... 

Evolution makes C$343m play for Battle North
The Bateman gold project in the Red Lake district, Ontario.

Galantas restarts blasting underground

By: Mariaan Webb     15th March 2021 Northern Ireland gold producer and explorer Galantas Gold has restarted underground blasting, although it remains limited by the availability of cash resources. Development mining of the Kearney gold vein at the Omagh gold mine will produce a feed of higher gold grade for the processing plant... 

Australian resources still abundant - AIMR

By: Esmarie Iannucci     15th March 2021 The latest edition of Australia’s 'Identified Mineral Resources' (AIMR) report has reaffirmed Australia position as one of the world’s top producers of key critical minerals. Minister for Resources, Water and Northern Australia Keith Pitt at the end of last week said that Geoscience Australia’s... 

Australian resources still abundant - AIMR

Premier granted exclusive prospecting order for Zimbabwe project

By: Creamer Media Reporter      12th March 2021 Aim-listed Premier African Minerals has been granted an exclusive prospecting order (EPO) over an area that encompasses the Zulu lithium and tantalum claims in the Fort Rixon district of Zimbabwe for a period of three years. "I am deeply appreciative of the Zimbabwe Government for the granting of... 

First Majestic buys Jerritt Canyon from Sprott

By: Mariaan Webb     12th March 2021 Dual-listed First Majestic Silver on Friday announced that it would buy the Jerritt Canyon gold mine, in Elko, Nevada, from Sprott Mining for $470-million in shares and five-million share purchase warrants. Concurrent with the acquisition, Sprott Mining president Eric Sprott would complete a... 

First Majestic buys Jerritt Canyon from Sprott

Just clearing exploration backlog would be huge leap forward – Miller  

By: Martin Creamer     12th March 2021 Ahead of tackling policy issues, incremental ongoing effort must be prioritised to clear South Africa’s huge mineral exploration and mining rights backlog, says AmaranthCX director Paul Miller. The backlog currently stands at more than 5 000 unprocessed exploration applications and  235... 

Just clearing exploration backlog would be huge leap forward – Miller
AmaranthCX director Paul Miller talks exploration to Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Kinross earns 70% stake in Laguna in Snow Lake

By: Creamer Media Reporter      12th March 2021 An affiliate of Kinross Gold has earned a 70% interest in the Laguna/Lucky Jack/Puealla Bay properties, in Snow Lake, Manitoba, junior partner Rockcliff Metals announced on Thursday. Rockliff, which retains a 30%participating interest in Laguna, reported that Kinross had earned its interest by... 

Wheaton Precious Metals hikes dividend

By: Mariaan Webb     12th March 2021 Despite the Covid-19 pandemic, metals streaming company Wheaton Precious Metals had a productive 2020, delivering value back to its stakeholders, president and CEO Randy Smallwood reported on Thursday, announcing record yearly revenue and operating cash flow. The TSX- and NYSE-listed company,... 

Morila on target - Firefinch

By: Esmarie Iannucci     12th March 2021 The Morila gold mine, in Mali, remained on track to produce between 10 000 oz and 10 500 oz of gold for the first quarter of 20-21, ASX-listed Firefinch reported on Friday. The miner told shareholders that some 3 494 oz of gold had been produced in January and 3 372 oz of gold during February,... 

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