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Gold News

Smarter mining key amid current market conditions

By: Tracy Hancock     Updated 4 hours ago Despite the boon of improved uranium demand, overall, depressed commodity prices and costly operating conditions are emphasising the need for Namibian mining companies to ensure that they mine a lot smarter, and more efficiently and sustainably. “We believe that our solutions meet that criteria.... 

Sylvania reports positive results despite lower PGM prices

By: Sabrina Jardim     22nd February 2024 Platinum group metals (PGMs) producer and developer Sylvania Platinum says its revenue and net profit for the 2023 financial year remained respectable, despite the impact of a significantly lower PGMs basket price. The Sylvania Dump Operations (SDO) produced 38 405 oz of platinum, palladium,... 

Gold Fields posts higher full-year earnings, maintains dividend at R7.45

By: Marleny Arnoldi     22nd February 2024 JSE- and NYSE-listed Gold Fields has declared a total dividend of R7.45 a share for the year ended December 31, with $703-million in attributable profit having been generated. The attributable profit amounts to $0.79 apiece, compared with profit of $711-million, or $0.80 apiece, in the prior year.  

Gold Fields' Damang mine, in Ghana
Gold Fields' Damang mine, in Ghana

Equinox targets one-third production jump this year

By: Creamer Media Reporter      22nd February 2024 Canada-based gold miner Equinox Gold has finished 2023 strongly, not only achieving its gold guidance, but also setting out plans for a big step up in output this year. Equinox, which has seven operating gold mines in the US, Mexico and Brazil, has set its guidance for 2024 at between 660 000 oz... 

Harmony's shares rise on higher earnings outlook

By: Creamer Media Reporter      22nd February 2024 JSE-listed Harmony Gold's share price rose by more than 5% on February 22 after the company reported that its earnings per share (EPS) for the six months ended December 31, 2023, were likely to increase by more than 100% year-on-year to between R9.37 and R9.76 in rand terms and between $0.50 and... 

Harmony's Moab Khotsong mine
Harmony's Moab Khotsong mine

Record dividend for Northern Star as growth strategy delivers cash earnings boost

By: Mariaan Webb     22nd February 2024 Australian gold miner Northern Star on Thursday declared a record interim dividend of 15c a share, complementing its A$300-million share buyback programme that remains open. Driven by higher gold prices, the ASX-listed company delivered a 41% increase in underlying earnings before interest, tax,... 

Record dividend for Northern Star as growth strategy delivers cash earnings boost

Criminal Asset Recovery Fund, not fiscus, to fund SANDF’s war on illegal mining

By: Darren Parker     21st February 2024 The Portfolio Committee on Defence and Military Veterans has claimed that the deployment of the South African National Defence Force (SANDF) in support of the South African Police Service to counter illegal mining at an estimated cost of R492-million is currently unfunded as of November last... 

Illegal miners

Perseus enters into co-investment cooperation agreement with Saudi company

By: Tasneem Bulbulia     21st February 2024 ASX- and TSX-listed Perseus Mining has entered into a cooperation agreement with Ajlan & Bros Mining & Metals Company (ABM), the mining division of Saudi Arabia-based investment conglomerate company, Ajlan Brothers. The binding agreement contemplates that Perseus and ABM will jointly investigate... 

An image of Perseus CEO and chairperson Jeff Quartermaine
Photo by Bloomberg
Perseus CEO and chairperson Jeff Quartermaine

Sibanye incurs $2.58bn in impairments on lower metals prices

By: Tasneem Bulbulia     21st February 2024 Multinational mining and metals processing group Sibanye-Stillwater has incurred impairments of $2.58-billion, or about R47.45-billion, for the 2023 financial year, on the back of the deterioration in metals prices and certain operational factors. In a trading update ahead of the March 5... 

Sibanye CEO Neal Froneman
Sibanye CEO Neal Froneman

South Africa’s IDC begins due diligence work for Qala Shallows project funding

By: Tasneem Bulbulia     21st February 2024 South African development finance institution the Industrial Development Corporation (IDC) has begun work to complete its due diligence investigation as part of its proposed R300-million (about $15.8-million) debt facility to fund development capital for ASX-listed West Wits Mining’s Qala... 

An image of West Wits chairperson Michael Quinert
West Wits chairperson Michael Quinert

Copper, gold to get 'largest immediate' boost from Fed easing, Goldman says

By: Reuters     21st February 2024 Copper and gold are expected to see the largest immediate price boost in the commodities sector from potential US Federal Reserve interest rate cuts, analysts at Goldman Sachs said. "The immediate price boost from a Fed driven 100 basis point decline in U.S. 2-year rates is the largest for... 

Abcourt restarts Sleeping Giant mill

By: Creamer Media Reporter      21st February 2024 Toronto-listed Abcourt Mines on February 13 started processing gold at its Sleeping Giant mill,near Amos, Quebec. The mill operated at 20 t/h during this first week. On Monday, the mill began to operate at its nominal rate of 32 t/h with the addition of the second ball mill. 

Early commissioning under way at Ascot’s Premier gold mine

By: Mariaan Webb     21st February 2024 Construction of the Premier gold project, in the prolific Golden Triangle of north-western British Columbia, is nearing completion and early commissioning is now under way. First ore delivery to the mill is expected by the end of March and the first gold pour is anticipated in April. 

The water treatment plant at the Premier gold mine, in British Columbia.
The water treatment plant at the Premier gold mine, in British Columbia.

DRDGOLD’s business model is ESG in action 

By: Tracy Hancock     20th February 2024 Considering that environmental, social and governance (ESG) aspects have become increasingly important over the years, especially in the mining industry, gold producer DRDGOLD emphasises that its tailings retreatment business model was built to realise ESG compliance. “Essentially what we do is... 

DRDGOLD’s business model is ESG in action

Osino ditches Dundee for superior proposal from foreign suitor

By: Mariaan Webb     20th February 2024 Canada-based Osino Resources is walking away from a takeover by gold miner Dundee Precious Metals (DPM) and has instead opted to accept an offer from a foreign-based mining company. The TSX-V-listed firm on Monday revealed the proposal, which its board said was a “superior” offer to that of DPM. 

The Twin Hill project area in Namibia
The Twin Hill project area in Namibia

Forge Academy launches new 4IR training centre in partnership with Sibanye-Stillwater

By: Schalk Burger     19th February 2024 Technology training company Forge Academy has launched a new Fourth Industrial Revolution (4IR) training centre and two courses in partnership with mining company Sibanye-Stillwater. The first two 12-month certification courses will be in Amazon Web Services with Business Analysis, and Community... 

Polymetal to sell Russian unit for $3.7bn

By: Bloomberg     19th February 2024 Gold miner Polymetal International will sell its sanctioned Russian unit in a deal worth a total of nearly $3.7-billion, the Kazakhstan-registered firm said in a statement. The business will be sold to Russian firm Mangazeya Plus with completion marked for end-March, Polymetal said. The sale was... 

Polymetal CEO Vitaly Nesis
Polymetal CEO Vitaly Nesis

New Cascabel PFS cuts initial capex

By: Creamer Media Reporter      19th February 2024 London- and Toronto-listed SolGold has announced the results of a new prefeasibility study (PFS) for the Cascabel project, in Ecuador, which supports a phased block cave mine development that substantially reduced the initial capital expenditure (capex) required. The PFS puts an initial capex... 

SSR Mining says environmental permit for Turkey mine has been revoked

By: Reuters     19th February 2024 Canada-listed gold miner SSR Mining said late on Sunday that its environmental permit for a gold mine in eastern Turkey has been revoked. The operations at the company's Copler mine will remain suspended until further notice, the company said. 

SSR Mining says environmental permit for Turkey mine has been revoked

Cosmo exercises option to acquire Kanowna project

By: Creamer Media Reporter      19th February 2024 Gold and base metals exploration company Cosmo Metals on Monday announced it would acquire the Kanowa Gold Project (KGP), located adjacent to the seven-million ounce Kanowa Belle gold mine, north-east of Kalgoorlie. The 20 km2 KGP, which comprises 12 prospecting licences, is “compelling with... 

NewPeak sells Finland, NZ gold assets as it switches to battery metals

By: Mariaan Webb     19th February 2024 Australia-based NewPeak Metals has announced the sale of its Finland and New Zealand gold permits as part of the company’s strategic rejuvenation plan to focus on battery and critical metals. The ASX-listed company on Monday announced a binding term sheet to sell 100% of its interest in its... 

SSR Mining says eight employees detained after Turkey mine landslide

By: Reuters     19th February 2024 Gold miner SSR Mining said on Friday that eight of its employees have been detained amid an investigation into a landslide at its mine in Turkey and that operations there remain suspended. SSR Mining on Wednesday suspended production at its Copler mine in eastern Turkey after the landslide,... 

SSR Mining says eight employees detained after Turkey mine landslide

Big new Canada gold mine to enter production next month

By: Mariaan Webb     16th February 2024 The Côté gold mine, in Sudbury, Ontario, is on the cusp of production, Toronto-listed Iamgold reported on Thursday. The project entered 2023 with construction about 64% completed and finished the year at 98% complete, said CEO Renaud Adams, adding that production was poised to begin next month. 

Big new Canada gold mine to enter production next month

Long stop date for Xtract’s disposal of Mozambique project extended

By: Tasneem Bulbulia     16th February 2024 Aim-listed Xtract Resources says the long stop date in relation to the disposal of its entire interests in the Manica gold project, in Mozambique, has been extended from February 15 to February 23 to allow for the completion of certain administrative matters. A further announcement will be made... 

Updated MRE for Sylvania’s Volspruit project shows improved grades

By: Tasneem Bulbulia     16th February 2024 Aim-listed Sylvania Platinum has announced the completion of a mineral resource estimate (MRE) update for its Volspruit project, located on the Northern Limb of the Bushveld Complex in South Africa,  facilitated by South African geological company Earthlab Technical Division. CEO Jaco Prinsloo... 

An image of Sylvania Platinum CEO Jaco Prinsloo
Sylvania Platinum CEO Jaco Prinsloo

Kin Mining proposes merger with PNX Metals

By: Mariaan Webb     16th February 2024 Following the recently completed sale of certain gold deposits to Genesis Minerals, ASX-listed Kin Mining is well-funded with A$75-million in cash and liquid assets and is now looking for potential strategic investments or acquisitions. One such opportunity that it is looking to pursue is a... 

Three dead as bus carrying B2Gold employees attacked in Mali

By: Reuters     16th February 2024 B2Gold Corp on Thursday said three of its employees died after sustaining injuries in an attack on an employee transport convoy in Mali. A bus transporting B2Gold employees from the Fekola Mine to Bamako was attacked approximately 75 kilometres west of Bamako, the Canadian miner said. 

Energy transition driving continued surge in metals, mining M&A activity

By: Tasneem Bulbulia     16th February 2024 The ongoing surge in mergers and acquisitions (M&A) activity in the metals and mining sector is expected to continue into this year, driven by the global energy transition, with industry players targeting critical minerals to align their portfolios with the requirements of the future, Fitch... 

Can SA mining prevent more hostage dramas in 2024?

By: Darren Parker     16th February 2024 Since October of last year, several unlawful underground protests have raised serious concerns about the potential emergence of a new trend in which frustrated underground mineworkers turn to unlawful sit-ins and hostage-taking as a means of having their demands met. Although the South African... 

Magazine cover image

Barrick’s Thornton moves from executive chairman to chairman

By: Bloomberg     15th February 2024 Barrick Gold’s executive chairman John Thornton has moved from executive chairman to chairman after nearly a decade in the position. The change is “best suited for the company’s next growth phase", the world’s second-largest gold producer said in a regulatory filing on Wednesday. 

John Thornton
John Thornton

Sean Wade to be appointed Katoro chairperson subject to due diligence

By: Tasneem Bulbulia     15th February 2024 Aim-listed Katoro Gold has announced the proposed appointment of Sean Wade as nonexecutive chairperson of the company, conditional only on the satisfactory completion of stock market due diligence, which is a standard procedure prior to the appointment of directors onto the board of an Aim-listed... 

Ariana mulls further involvement in Zim project following due diligence drilling

By: Marleny Arnoldi     15th February 2024 Aim-listed Ariana Resources has completed 1 222 m of diamond drilling for due diligence purposes on the Dokwe gold project, in Zimbabwe. The company is targeting the Dokwe North and Dokwe Central deposits, with the geochemical characteristics of the mineralisation uncovered so far being defined... 

Kinross carrying 2023 momentum into 2024, CEO says

By: Mariaan Webb     15th February 2024 Canada-headquartered Kinross Gold had a “great year” in 2023, CEO Paul Rollinson said on Wednesday, reporting that the company had met its production, cost and capital guidance, as well as completed its projects at Tasiast, in Mauritania, and La Coipa, in Chile. “Our portfolio of mines produced... 

Barrick replaces 140% of gold reserve, no need for ‘dilutionary or delusionary’ M&A 

By: Martin Creamer     15th February 2024 New York- and Toronto-listed mining company Barrick has replaced more than 140% of its gold reserves in the last five years and more importantly at the same grade, Barrick CEO Dr Mark Bristow pointed out in reporting full-year 2023 gold production of 4.05-million ounces and copper output of... 

Barrick CEO Mark Bristow.
Barrick CEO Mark Bristow.

Landslide at SSR’s Turkish mine triggers cyanide spill concerns

By: Bloomberg     15th February 2024 A landslide at a gold mine in eastern Turkey triggered concerns of cyanide contamination in western Asia’s longest river. The incident at the Copler mine dislodged ten million cubic meters of earth across a 200-meter slope, with nine missing workers still trapped under the soil, Interior... 

The Copler mine in Turkey
The Copler mine in Turkey

Chinese firm selected as preferred EPC partner for $30m Theta contract

By: Mariaan Webb     14th February 2024 Gold development company Theta Gold Mines has selected Yellow River Co (YRC), a subsidiary of Power Construction Corporation of China, for the construction of its TGME gold plant, tailings storage facility and wastewater dams, in South Africa. The parties are working on a formal engineering,... 

Chinese firm selected as preferred EPC partner for $30m Theta contract

Barrick CEO not interested in piecemeal talks over First Quantum assets

By: Reuters     14th February 2024 Barrick Gold CEO Mark Bristow said on Wednesday he was not interested in piecemeal discussion when asked whether the company would consider bidding for any of First Quantum Minerals' assets. "I'm not interested in working on any sort of piecemeal discussion," Bristow told Reuters in an interview... 

Barrick CEO Mark Bristow
Barrick CEO Mark Bristow

Barrick targets higher output this year after missing FY guidance

By: Creamer Media Reporter      14th February 2024 old is forecasting higher gold production in 2024, setting a target of 3.9-million to 4.3-million ounces for the year. This compares with gold production of 4.05-million ounces this year, which slightly missed the 2023 group guidance. “Despite picking up the pace in the latter half of the year,... 

The Pueblo Viejo operation in the Dominican Republic
The Pueblo Viejo operation in the Dominican Republic
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