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Gold News
SolGold advances financing for Cascabel, secures $10m loan
By: Mariaan Webb 14th May 2024 LSE- and TSX-listed SolGold said on Tuesday that it was making significant strides in securing financing for its Cascabel project, in Ecuador, with capital providers expressing a keen interest in committing to a longer-term financing package. The company is in detailed discussions with capital... →
Hochschild hits commercial production at its first Brazil mine
By: Creamer Media Reporter 14th May 2024 Precious metals company Hochschild Mining has achieved commercial production at the Mara Rosa gold mine – its first operation in Brazil. During May, the Mara Rosa processing plant has operated at an average throughput of 90% of its nameplate capacity of 7 000 t/d and exceeded 80% average... →
Lexington renews Jelani prospecting right to 2026
By: Darren Parker 13th May 2024 Aim-listed Lexington Gold has announced that the prospecting right owned by Jelani Resources has now been formally renewed until May 29, 2026. This follows on the back of announcements made on May 15 and September 7 last year regarding Lexington’s acquisition of White Rivers Exploration (WRE). →
Goldplat’s third quarter buoyed by strong performance of its Ghanaian operations
By: Tasneem Bulbulia 13th May 2024 Aim-listed Goldplat’s gold recovery operations in South Africa and Ghana achieved a combined operating profit for the third quarter, ended March 31, of £1.6-million (excluding listing and head office costs and foreign exchange losses), a 10% increase on the operating profit for the third quarter... →
The third-quarter performance of the South African operation Goldplat Recovery South Africa continued to be impacted on by a reduction in supply from current mining operations and, to a lesser extent, by electricity supply interruptions
Kefi nears construction start at Tulu Kapi
By: Marleny Arnoldi 13th May 2024 London-listed Kefi Gold and Copper says the remaining finance syndicate approval process in respect of the Tulu Kapi project, in Ethiopia, is on track for final approvals this month. The company has started with launch preparations on site ahead of construction, which is earmarked to start by... →
Caledonia starts year with higher output, profit
By: Marleny Arnoldi 13th May 2024 Gold miner Caledonia Mining says its production and profit was supported by a favourable gold price in the first quarter of the year, which has continued through April and into May. The company’s Blanket and Bilboes mines, in Zimbabwe, recorded a 6% increase in production to 17 476 oz, compared... →
Horizon Minerals inks toll milling agreement
By: Mariaan Webb 13th May 2024 ASX-listed Horizon Minerals on Monday announced a toll milling agreement with FMR Investments to treat 200 000 t of ore from the Cannon underground deposit. FMR owns the Greenfields mill, which is about 67 km by road from the Cannon project in Western Australia. →
OceanaGold Philippines' shares decline in early trades on market debut
By: Reuters 13th May 2024 Gold miner OceanaGold Philippines' shares fell as much as 6% below their initial public offering (IPO) price in the first 15 minutes of trading on their market debut on Monday. The shares opened at 13.34 pesos ($0.2314) a touch above their IPO price of 13.33 pesos, but subsequently lost ground. →
AngloGold starts year with 2% higher output despite flooding in Australia
By: Marleny Arnoldi 10th May 2024 Gold miner AngloGold Ashanti has started the year off well, with a 2% increase in production to 581 000 oz for the quarter ended March 31, despite the impact of heavy rain and flooding on output in Western Australia. CEO Alberto Calderon says the company is seeing greater consistency from most of... →
St Barbara’s decade-long vision for Simberi
By: Mariaan Webb 10th May 2024 Australian gold miner St Barbara has crafted a roadmap for the advancement of the Simberi mine, in Papua New Guinea, outlining production scenarios aimed at elevating output to about 230 000 oz/y through to 2034. The concept study scrutinised six different cases, comprising two flowsheet options... →
South Deep, Rietberg, mineral exploration make headlines 
10th May 2024 Mining Weekly Editor Martin Creamer discusses developments around Gold Fields’s potential wind energy project at the South Deep Gold Mine; Copper360's Rietberg underground copper mine opening three months ahead of schedule; and South Africa’s economy can benefit quickly from getting mineral... →
Froneman confident PGM prices will rebound once temporary decline abates
By: Darren Parker 10th May 2024 Multinational mining and metals processing group Sibanye-Stillwater CEO Neal Froneman remains confident that the platinum group metals (PGM) price outlook is fundamentally positive and that the price gouging of late was merely a temporary phenomenon. “Our view that the fundamental outlook for... →
DRDGOLD posts lower third-quarter output, but higher earnings
By: Marleny Arnoldi 10th May 2024 JSE-listed gold recovery company DRDGOLD has generated higher adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) for the quarter ended March 31, compared with the same quarter of last year, despite having produced slightly fewer ounces. Adjusted Ebitda in the... →
Iamgold guidance on track as Essakane and Westwood shine
By: Mariaan Webb 10th May 2024 Canadian gold miner Iamgold has announced a promising start to the year, reporting robust results across its operations and projects in the first quarter, positioning the company well to meet its guidance targets. CEO Renaud Adams attributed the first-quarter success to the combination of stable... →
Sibanye reports lowest serious injury rate in its history for the first quarter
By: Darren Parker 10th May 2024 JSE- and NYSE-listed Sibanye-Stillwater has reported its lowest group serious injury frequency rate (SIFR) in its history for the first quarter, ended March 31. The SIFR of 2.19 was 15% lower than the first quarter of last year and marked the third consecutive yearly improvement for the group’s... →
Montage receives enviro permit for Côte d'Ivoire project
By: Creamer Media Reporter 10th May 2024 TSX-V-listed Montage Gold has received a signed Ministerial order from Côte d'Ivoire granting the environmental approvals necessary for the development of its 300 000 oz/y Koné project. In addition, Montage has submitted the mining permit applications for the project and expects receiving all... →
Manuka raises cash to bring Mt Boppy into production
By: Creamer Media Reporter 9th May 2024 Exploration and development company Manuka Resources has announced an A$8-million capital raise that it plans to use to bring the Mt Boppy gold mine into production this year. The capital will be used to establish an onsite processing facility to recover gold from oxidised ore. First gold... →
Pan African confident of meeting upper end of full-year production guidance
By: Creamer Media Reporter 9th May 2024 South African gold producer Pan African Resources has revised its full-year production guidance to between 186 000 oz and 190 000 oz, compared with previous guidance of 180 000 oz to 190 000 oz, while maintaining its all-in sustaining cost guidance at between $1 325/oz and $1 350/oz. In an update... →
US Gold receives CK operating permit
By: Creamer Media Reporter 9th May 2024 The CK gold mining project, in Wyoming, is on track for all the necessary permits for development by the middle of the year, US Gold Corp CEO George Bee reported on Wednesday, announcing the approval of a mine operating permit. The Wyoming Department of Environmental Quality (WDEQ) issued US... →
April was strong for gold but ‘stagflation’ concerns abound – WGC
By: Darren Parker 8th May 2024 According to the World Gold Council (WGC), gold had another good month in April, posting a 4% gain and ending the month at $2 307/oz. “Unlike March, gold finished off its intra-month high from probable buyer reticence and profit-taking, reflected in falling Chinese premia, lower Indian imports... →
West African progresses bulk earthworks, tailings dam construction at Kiaka
By: Marleny Arnoldi 8th May 2024 ASX-listed West African Resources has made significant progress on its Kiaka gold project, in Burkina Faso, as construction continues to advance on the 219 000 oz/y operation. In particular, the company is nearing completion of a water storage dam and bulk earthworks for a mining services area. →
Black Cat releases updated study for ‘cash cow’ Paulsens
By: Mariaan Webb 8th May 2024 ASX-listed Black Cat Syndicate has released the May 2024 restart study for the Paulsens gold mine, which details substantially higher returns than the November study on the back of a stronger gold price. The latest study is based on a gold price of A$3 500/oz, compared with A$2 900/oz in... →
Tietto urges shareholders to accept Zhaojin bid or sell their shares
By: Darren Parker 8th May 2024 Hong Kong-based Zhaojin Capital has obtained enough acceptances for its off-market takeover bid to control the composition of ASX-listed Tietto Minerals’ board. As of May 6, Zhaojin held about 74.85% of Tietto's voting power. →
South Deep wind power decision drawing closer, Q2 update likely on backfill problem
By: Martin Creamer 8th May 2024 Mining company Gold Fields expects to be in a position to decide on the establishment of a wind power project at the South Deep gold mine, west of Johannesburg, in the third quarter of this year. The project is currently undergoing scoping and feasibility and one of the key pieces of work has... →
West Red Lake announces C$30m bought-deal offering
By: Creamer Media Reporter 8th May 2024 West Red Lake, the owners of the Madsen gold mine in Ontario, has announced a C$30-million bought deal public offering of units. The TSX-V-listed firm entered into an agreement with Raymond James as sole bookrunner to purchase 27.78-million units and 11.24-million charity flow-through units at... →
De Grey raises A$600m for WA gold project
By: Creamer Media Reporter 8th May 2024 Western Australian gold explorer and developer De Grey Mining has launched a fully underwritten A$600-million equity raising, derisking the equity component of the financing for the Hemi project. The equity raising comprises a A$344-million institutional placement and a 1 for 7.95 prorata... →
B2Gold says Goose project slightly behind schedule
By: Mariaan Webb 8th May 2024 Development of the Goose openpit and underground project, in Nunavut, is running slightly behind schedule, with the first gold pour pushed out by one quarter. Senior gold producer B2Gold explains that the project is behind schedule owing to equipment availability, adverse weather conditions and... →
Zimbabwe aims to use FDI to develop a competitive economy by 2030
By: Schalk Burger 7th May 2024 Zimbabwe held an investment conference on May 2 and 3 in South Africa during which its officials explained that the country of 16-million people wants to use local and international investments into key sectors of its economy to further develop the country by 2030. This objective is encapsulated... →
Avanti appoints mining veteran Jonah as chair, acquires gold prospect in Botswana
By: Marleny Arnoldi 7th May 2024 Canada-listed Avanti Gold has appointed Sir Samuel Jonah director and chairperson of the company, at a time when the company explores a stretch of newly acquired prospective terrain in Botswana. Jonah has made valuable contributions to the mining sector in Africa, including as former president... →
Kefi progressing Ethiopian gold project towards launch
By: Tasneem Bulbulia 7th May 2024 Aim-listed Kefi Gold and Copper has reported good progress, to schedule, at its high-grade Tulu Kapi gold project in Ethiopia. The remaining finance syndicate board processes are on track for final (conditional) approvals during May, while project launch preparations have started at Tulu Kapi. →
South Deep gold output well down as Gold Fields implements recovery plan
By: Martin Creamer 7th May 2024 With first-quarter gold production down 34% at South Deep gold mine, Gold Fields is focusing on setting up the well-endowed long-life Gauteng operation for longevity, quality ounces and sustainable production increases. The challenging quarter of the bulk mechanised mine near Westonaria, west of... →
Panthera restructures ownership of Mali, Nigeria projects
By: Tasneem Bulbulia 7th May 2024 Aim-listed Panthera Resources has entered into definitive agreements with DFR Gold and Maniger to restructure Panthera’s ownership interests in the Kalaka gold project, in Mali, and the Paimasa, Dagma and Dext gold projects, in Nigeria. Following completion of the restructuring, Panthera will own... →
St Barbara harnesses AI to boost production at Simberi mine
By: Mariaan Webb 7th May 2024 Australian mining company St Barbara is set to increase its production at the Simberi mine over the next three years, following the successful use of artificial intelligence- (AI-) based algorithms to better classify mineralisation. Collaborating with Stratum AI has helped St Barbara to identify... →
Bellevue accelerates next leg of growth strategy
By: Creamer Media Reporter 7th May 2024 Western Australian miner Bellevue Gold has initiated expansion studies at its namesake gold project, in Western Australia, following the successful commissioning and ramp-up of the new mine. Bellevue, which has also declared commercial production, produced 37 338 oz in the March quarter, putting... →
Saudi Manara Minerals' team in Pakistan for talks on Reko Diq mine stake, document shows
By: Reuters 6th May 2024 Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about buying a stake in Pakistan's Reko Diq gold and copper mine, a Pakistan government document showed on Monday. The mine, located in Pakistan's restive southwestern Balochistan province, is... →
Theta raises $10m
By: Creamer Media Reporter 6th May 2024 ASX-listed Theta Gold Mines, which owns gold assets in South Africa, has received a firm commitment from Hong Kong Ruihua Investment Management to invest $10-million in the company through a share subscription agreement. The funds will be used to complete funding packages for the TGME gold... →
Growth in platinum jewellery demand continues in most key markets
By: Sabrina Jardim 6th May 2024 In its latest Platinum Jewellery Business Review (PJBR) for the fourth quarter of 2023, marketing organisation Platinum Guild International (PGI) has reported that India’s jewellery market maintained its robust growth during the final quarter of last year, while Japan enjoyed modest gains, and... →
Gold edges higher as investors mull mixed US economic signals
By: Bloomberg 6th May 2024 Gold edged higher after mixed signals from the US, where optimism is growing the economy is on target for a soft landing as the Federal Reserve fights inflation. The precious metal fell as much as 0.4% on Monday before reversing, following its back-to-back weekly loss on Friday. Investors have... →
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