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Gold News

Aton Resources now majority owned by Estonian investor

By: Marleny Arnoldi     25th April 2022 Gold and base metals project developer Aton Resources has closed a private placement of about 13.3-million common shares, raising proceeds of C$2-million. An existing major shareholder, OU Hektik, acquired 12.7-million of these shares, tripling its shareholding from six-million shares to... 

Polymetal delays projects amid sanctions pressure on Russia

By: Reuters     25th April 2022 Polymetal has decided to postpone several projects amid Western sanctions on Russia after the gold and silver miner reported a 4% year-on-year increase in first-quarter revenue to $616-million due to higher gold prices. The Western sanctions imposed on Moscow after it sent its troops to Ukraine... 

Barrick confirms mine water leakage at North Mara, no risk found so far

By: Marleny Arnoldi     25th April 2022 Global gold and copper miner Barrick Gold Corporation has advised of a water leak at its North Mara mine, in Tanzania, but says it has found no reason for concern to the community or aquatic biodiversity of a nearby river. The company explains that the mine has experienced an uncontrolled... 

Power Metal expands prospective lands in Botswana

By: Marleny Arnoldi     22nd April 2022 London-listed Power Metal Resources has been granted a prospecting licence covering the historical Cherished Hope gold mine and a large gold-in-soil anomaly, within the Tati greenstone belt, in Botswana. This has largely enhanced the company’s land position within the Tati greenstone belt, with... 

Akobo announces significant increase in gold ounces at Segele

By: Darren Parker     22nd April 2022 Scandinavian gold exploration and boutique mining company Akobo Minerals has announced an updated mineral resource estimate (MRE) for its Segele project, in Ethiopia, showing a significant increase of 31% in gold ounces. The updated MRE put the average grade at 40.6 g/t for indicated mineral... 

Newmont posts lower first-quarter profit

By: Mariaan Webb     22nd April 2022 The world’s biggest bullion miner, Newmont, on Friday reported lower first-quarter adjusted earnings on the back of lower sales volumes. Adjusted net income was $546-million, or $0.69 a diluted share, compared with $594-million, or $0.74 a diluted share, in the prior-year quarter. The company... 

Newmont CEO Tom Palmer
Newmont CEO Tom Palmer

Sibanye lifts wage offer for South African gold sector employees

By: Donna Slater     22nd April 2022 Precious and battery metals miner Sibanye-Stillwater has tabled a higher final settlement offer for its South African gold employees. The three-year offer will result in category four to eight employees receiving an increase of R850 in year 1, R850 in year 2 and R850 in year 3 which includes a... 

Integra goes for heap leach only option at DeLamar

By: Creamer Media Reporter      22nd April 2022 TSX-V- and NYSE American-listed Integra Resources has announced that it is advancing the heap-leach stage of its DeLamar project, in Idaho, into permitting and development on a standalone basis. The company stresses that the low-cost, low-risk strategy to focus on the financial engine of the... 

Bear Creek owns Mercedes mine

By: Creamer Media Reporter      22nd April 2022 TSX-V-listed Bear Creek is now the owner of the Mercedes mine, having completed the acquisition of the mine in Sonora, Mexico, from Equinox Gold. “We are extremely pleased to have acquired a producing gold-silver mine with a strong operating team, underlying assets with a replacement cost... 

Petropavlovsk applies for export licence amid struggle to sell gold

By: Reuters     22nd April 2022 Russian gold miner Petropavlovsk said on Friday it has applied for a new export licence as the company struggles to sell its gold to sanctions-hit lender Gazprombank, the only buyer of the mining group's entire gold output. The sanctions imposed on several Russian companies prohibit any... 

GBM finalises deal with Canada's Consolidated Uranium

By: Esmarie Iannucci     22nd April 2022 Minerals explorer GBM Resources has finalised the sales agreement over the Brightlands Milo tenement, in Queensland. The company in November last year struck an agreement with TSX-V listed Consolidated Uranium to sell the iron-ore/copper/gold/uranium/rare earth tenement for an initial C$500 000... 

Rain and Covid dull Oz Minerals' shine

By: Esmarie Iannucci     22nd April 2022 Copper/gold miner Oz Minerals has seen first quarter production affected by wet weather conditions and Covid-19-related production interruptions. The miner on Friday reported that copper production in the three months to March had reached 30 322 t, down from the 32 169 t delivered in the... 

Image shows the Prominent Hill opencut operation

Miner contributes $5-million to support Ukraine

22nd April 2022 Gold major Newmont in March announced that it had committed $5-million to support humanitarian efforts relating to the war in Ukraine.  The company stated that it would provide direct support to the world’s largest distributor of donated medical equipment and supplies Project C.U.R.E., nonprofit... 

An image of Newmont president and CEO Tom Palmer
Photo by Bloomberg
TOM PALMER Newmont's values compel it to provide meaningful support to the people of Ukraine who are suffering due to this tragic conflict

Supplier develops safer reagents for lead/zinc, gold

By: Cameron Mackay     22nd April 2022 The specialised collectors, frothers, depressants and other similar reagent products that chemical reagent manufacturer and supplier Axis House has been developing to treat specific types of ore have been developed with high efficiency, safety and reducing environmental impact in mind. “We can... 

Image of an Axis House employee working on reagents
REAGENT DEVELOPMENT A large part of the technological advances we will be involved in pertain to improving the hazardous and environmental aspect of mineral processing

Gold miner committed to ESG leadership

22nd April 2022 Good environmental, social and corporate governance (ESG) management is essential to gold miner Barrick’s vision of becoming the world’s most valued gold and copper company, says Barrick executive chairman John Thornton in the company’s 2022 Information Circular, published on April 1. The... 

Image of Barrick executive chairman John Thornton
JOHN THORNTON Our rigorous focus on performance and execution against our sustainability strategy enables us to develop and maintain trusted long-term partnerships with all stakeholders

Capital buoyed by increase in rig demand

By: Donna Slater     21st April 2022 LSE-listed mining services company Capital’s revenue for the quarter ended March 31 increased by 52% year-on-year to $66.9-million as mine-site services continue to underpin revenue streams, contributing 87% of group revenue.
 Capital experienced strong growth in non-drilling revenue, which... 

NUM, AMCU to march to JSE in Sibanye wage dispute

By: Donna Slater     21st April 2022 Trade unions the National Union of Mineworkers (NUM) and the Association of Mineworkers and Construction Union (AMCU) plan to hold a mass march to the JSE on April 22 to hand over a memorandum of demand in its ongoing wage dispute with precious metals miner Sibanye-Stillwater. Sibanye in... 

Chaarat Gold looking forward to ‘very green’ production out of Kyrgyz Republic  

By: Martin Creamer     21st April 2022 London Aim-quoted gold mining company Chaarat Gold is looking forward to “very green and sustainable gold production” coming out of the Kyrgyz Republic, where it is developing two gold projects. The of these first is Tulkubash, a near-term opencast heap leach project, and the second a far larger,... 

Picture supplied.
Chaarat Gold CEO Mike Fraser interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Centerra signs up for Kootenay’s Copley project

By: Creamer Media Reporter      21st April 2022 British Columbia-focused explorer Kootenay Resources has signed up gold miner Centerra Gold to earn into the Copley property, where it sees potential for the discovery of million-ounce deposits. In terms of the agreement, a total of C$4-million in exploration expenditures and C$400 000 in cash... 

Maria Bitar appointed nonexecutive director of Gold Fields

By: Schalk Burger     21st April 2022 Gold producer Gold Fields has appointed Maria Cristina Bitar as a nonexecutive director with effect from May 1. She has 25 years of experience working as a consultant, specialising in public affairs, crisis management, communications and sustainability. She also has more than 12 years of board... 

DGO urges acceptance of Gold Road bid

By: Esmarie Iannucci     21st April 2022 Takeover target DGO Gold has urged shareholders to accept the A$308-million takeover offer for fellow listed Gold Road Resources. Gold Road earlier this month launched a takeover offer for DGO, offering 2.16 of its own share for every DGO share held. 

Costs fall at Evolution

By: Esmarie Iannucci     21st April 2022 Gold miner Evolution Mining has reported a solid start to the year, with gold production in the March quarter reaching 148 787 oz, on par with the 148 084 oz produced in the December quarter. C1 cash costs for the quarter fell to A$716/oz, from the A$947/oz reported in the December quarter,... 

Kefi to raise £8m through share placement

By: Darren Parker     20th April 2022 Aim-listed gold exploration and development company Kefi Gold and Copper has announced an oversubscribed fundraising to raise gross cash proceeds of £8-million through a firm placing of 550-million new ordinary shares of 0.1p each in the capital of the company at a price of 0.8p per ordinary... 

Barrick’s Tanzanian mines donate disease detection systems to communities

By: Tasneem Bulbulia     20th April 2022 NYSE- and TSX-listed Barrick Gold’s North Mara and Bulyanhulu mines, in Tanzania, have donated point of care (PoC) systems to two regional hospitals as part of a support programme to assist the country in combatting and containing Covid-19 and other infectious diseases. In a handover ceremony at... 

Centamin reports 89% y/y increase in capex

By: Darren Parker     20th April 2022 LSE- and TSX-listed gold producer Centamin reported total capital expenditure (capex) for the first quarter ending March 31 of $71.4-million, reflecting an 89% increase year-on-year. In a quarterly report released on April 20, the company said significant investment had been made in key capital... 

A photo of one of the Sukari open pits

President Ramaphosa to deliver keynote address at Mining Indaba 2022

By: Martin Creamer     20th April 2022 President Cyril Ramaphosa will deliver a keynote address at the 2022 Investing in African Mining Indaba, which takes place in Cape Town from May 9 to 12. The attendance of Ramaphosa, who will speak on Tuesday, May 10, signals the continued importance of mining to the South African economy as a... 

Picture supplied.
President Cyril Ramaphosa.

Petropavlovsk’s Russian bank asks gold miner for its money back

By: Bloomberg     20th April 2022 Petropavlovsk said its main Russian lender has asked it to repay a $200-million loan immediately, piling more pressure on the London-listed gold miner that’s been thrown into turmoil by sanctions against Moscow. The gold producer has found itself in an existential crisis after Russia’s invasion... 

Cascabel ‘no ordinary mining asset’, says SolGold as it unveils PFS

By: Mariaan Webb     20th April 2022 Dual-listed SolGold on Wednesday published a prefeasibility study (PFS) for its Cascabel project, in Ecuador, outlining plans for a multi-decade, low-cost copper producer that could help establish Ecuador as the next copper frontier. Cascabel would produce an average of 132 000 t/y of copper,... 

An image of the project area around Cascabel in Ecuador
The Cascabel project area in Ecuador

Four decomposed bodies found in North West mine shaft, 77 trapped illegal miners arrested

By: News24Wire      20th April 2022 Four decomposed bodies were handed to officials in Orkney, the North West, by illegal miners who were later arrested after they were found trapped inside an underground mine shaft. According to the police, the "manager" for the illegal miners - who are all believed to be illegal immigrants -... 

Canada's Aura takes a dip in Big River

By: Esmarie Iannucci     20th April 2022 ASX-listed Big River Gold has received a 36c a share cash takeover offer from TSX-listed mid-tier gold and copper producer Aura Minerals. The takeover offer represented a premium of 33.3% to Big River’s last closing price, and a 44% premium to the company’s 90-day volume weighted average share... 

Yamana wants banks to improve terms after S&P upgrade

By: Bloomberg     19th April 2022 Yamana Gold, which operates mines in four countries including Canada and Argentina, is seeking better terms from lenders including Bank of Nova Scotia and Citigroup Inc. after earning an upgrade from S&P Global Ratings. “We’ll definitely make sure it is being respected and acknowledged in all of... 

Mining licence granted for Altus’ Diba project

By: Darren Parker     19th April 2022 AIM-, TSX- and OTCQX-listed Altus Strategies was awarded a small-scale gold mining licence by the Ministry of Mines, Energy and Water in Mali on April 15. The mining licence was issued in respect of the company's 100%-owned 83.1 km2 Korali Sud licence, comprising the Diba gold project located in... 

SSR completes Taiga buy

By: Esmarie Iannucci     19th April 2022 Triple listed gold miner SSR Mining has completed the acquisition of CSE-listed Taiga Gold Corporation. SSR in December last year announced the acquisition of all the common shares of Taiga Gold at a price of C0.265 a share, valuing the takeover target at some C$30-million. 

Serabi Gold lowers 2022 guidance

By: Mariaan Webb     19th April 2022 Brazil-focused Serabi Gold has lowered its 2022 guidance after continued supply chain issues and greater-than-expected dilution from the Julia Vein of the Sao Chico orebody resulted in delayed production. The Aim- and TSX-listed junior reduced its guidance to 30 000 oz, from 36 000 oz to 39 000... 

Holohan appointed as Resolute CEO

By: Esmarie Iannucci     19th April 2022 Gold miner Resolute Mining on Tuesday reported that COO Terry Holohan has been appointed as company CEO, following the resignation of Stuart Gale as MD and CEO. Holohan will formally take over as CEO after Gale leaves the company, in order to pursue an opportunity in the Australia-focused... 

Orecorp spin-out completes IPO

By: Esmarie Iannucci     19th April 2022 Newly spun-out Solstice Minerals has raised A$12-million in its initial public offering (IPO) and is expected to start share trading on the ASX on May 2. ASX-listed gold developer OreCorp in January flagged plans to demerge its Western Australian exploration assets, in a bid to shift its focus... 

Black Cat unveils restart plans for Northern Star assets

By: Esmarie Iannucci     19th April 2022 ASX-listed Black Cat Syndicate on Tuesday revealed its restart plans for the Paulsens and Western Tanami gold projects, in Western Australia. Black Cat last week struck a A$44.5-million deal with gold miner Northern Star to acquire the projects, under which Northern Star would be paid... 

Burkina Faso mines chamber promises extra security

By: Reuters     19th April 2022 The president of Burkina Faso's mines chamber said on Monday extra measures would be taken to increase security and help to avoid further suspensions after Russia's Nordgold shut down a gold mine in the insurgent-hit country earlier this month. Nordgold called force majeure on its Taparko mine on... 

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