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Gold News

Reserve Bank concern about decline of public markets welcome development – Miller  

By: Martin Creamer     12th June 2024 The concern that South Africa’s Reserve Bank expressed last week on the state of this country’s public markets is seen as a welcome development by AmaranthCX director and public market promoter Paul Miller. Everything the Johannesburg Stock Exchange (JSE) has done, even when it has been... 

Four central banks sign London Principles to formalise artisanal small-scale gold mining sector

By: Darren Parker     12th June 2024 The World Gold Council (WGC) has announced that four central banks have committed to signing ‘The London Principles’, which is a set of operating principles to help structure and formalise central bank artisanal and small-scale gold mining (ASGM) domestic purchase programmes (DPP). The inaugural... 

Artisanal gold miners
Artisanal gold miners

Mawson to acquire Southern Cross Gold in merger

By: Mariaan Webb     12th June 2024 Exploration and development company Mawson Gold has announced a nonbinding term sheet with Southern Cross Gold (SXG), outlining its intent to acquire all the ordinary shares of the Australian company that it does not own. Following the acquisition, which will be implemented through an Australian... 

GMIN’s TZ mine on the brink of gold production

By: Creamer Media Reporter      12th June 2024 TSX-listed G Mining Ventures (GMIN) has announced progress in the commissioning of its Tocantinzinho (TZ) gold project, in Brazil. With the project engineered to produce about 175 000 oz/y of gold over a 10.5-year mine life, the company says it is on schedule and within budget to begin... 

GMIN’s TZ mine on the brink of gold production

Oriole starts delayed Phase 5 drilling at Cameroon project

By: Marleny Arnoldi     11th June 2024 Aim-listed Oriole Resources has advised of a number of logistical challenges hampering a Phase 5 drilling programme on the main mineral resource area of its Bibemi gold project, in Cameroon. Despite the delays, Oriole expects the 7 060 m drill programme across 62 holes in the Bakassi Zone 1... 

Minerals Council calls for collaborative relationship among govt, labour, civil society and the private sector

By: Creamer Media Reporter      10th June 2024 As political parties discuss the way forward in establishing a government of national unity, the Minerals Council South Africa says it and its members are advocating for a constructive, collaborative and trusting relationship among government, labour, civil society and the private sector to... 

Minerals Council South Africa CEO Mzila Mthenjane
Minerals Council South Africa CEO Mzila Mthenjane

Barrick and Zijin contribute $1m to PNG landslide relief efforts

By: Creamer Media Reporter      10th June 2024 Mining companies Barrick Gold and Zijin Mining – joint venture partners in the Porgera mine – have jointly contributed $1-million to help communities in Papua New Guinea’s Enga province in the wake of a landslide in Mulitaka that has claimed an estimated 600 lives. A team of senior Barrick... 

New Porgera Limited and Barrick Niugini Limited country manager Karo Lelai (left) hands over the second donation of relief supplies from the Porgera mine to Dorothy Kukum, director of community development with the Enga provincial government, on June 3.
New Porgera Limited and Barrick Niugini Limited country manager Karo Lelai (left) hands over the second donation of relief supplies from the Porgera mine to Dorothy Kukum, director of community development with the Enga provincial government, on June 3.

Panthera restructures Mali JV agreements

By: Sabrina Jardim     7th June 2024 Aim-listed diversified gold exploration and development company Panthera Resources has further restructured the joint venture (JV) agreements with Golden Spear Mali (GSM) over the Kalaka and Bassala gold projects, in Mali. Under the new JV agreements, Panthera's interest in the Kalaka and the... 

Ghana's 2023 gold output rose 8.3%

By: Reuters     7th June 2024 Ghana's gold production rose 8.3% to four-million ounces in 2023, data from the Ghana Chamber of Mines showed on Friday. The growth was driven primarily by expansion in the output of small-scale miners, which was sufficient to offset a decline in large-scale miners' production. 

Newmont CEO says divestment of non-core assets progressing well

By: Reuters     7th June 2024 Newmont CEO Tom Palmer said on Thursday the gold miner's plans to divest eight non-core assets and trim its workforce to cut debt following its $17.14-billion purchase of Newcrest were progressing well. "(We are) quite excited about the level of interest in each of those assets," Palmer told... 

Newmont CEO Tom Palmer
Newmont CEO Tom Palmer

Aguia outlines reopening plans for Colombia's Santa Barbara mine

By: Mariaan Webb     7th June 2024 ASX-listed Aguia Resources has announced a comprehensive work programme for the reopening of the high-grade Santa Barbara gold mine, in Colombia. This update follows Aguia's successful takeover of Andean Mining, the 100% owner of Santa Barbara. 

Processing equipment at Santa Barbara
Processing equipment at Santa Barbara

Kingsgate marks first gold pour at refurbished Chatree plant

By: Mariaan Webb     7th June 2024 Gold miner Kingsgate Consolidated has announced its first gold pour at the newly refurbished Plant #1 at the Chatree mine, in Thailand. The company reported on Friday that the first four doré bars were successfully poured, with both the elution circuit and the refurbished gold room operating... 

Gold bars poured at the Chatree mine
Gold bars poured at the Chatree mine

Gold’s continual rally

7th June 2024 International gold industry trade association the World Gold Council’s (WGC’s) ‘Gold Demand Trends’ report for the first quarter of this year reveals that total global gold demand, inclusive of over-the-counter (OTC) purchases, was up 3% year on year (y/y) to 1 238 t, marking the strongest... 

Two bars of gold balanced on top of each other
FINE NEWS The World Gold Council reported that gold had experienced an increase in demand of 3% for total global demand in the first quarter of this year

Long-term unlocking of vast resources potential gaining ground

By: Simone Liedtke     7th June 2024 Mozambique’s mining industry has been a significant driver of economic growth over the past two decades. With vast mineral resources, including heavy sands, coal, magnetite, graphite, lithium, gold and gemstones, the country offers a promising landscape for mining investments, says mining... 

MOZAMBIQUE POTENTIAL
Mozambique continues to attract international interest and aims to bolster its position as a key mining hub in Southern Africa
MOZAMBIQUE POTENTIAL Mozambique continues to attract international interest and aims to bolster its position as a key mining hub in Southern Africa

Global gold ETFs saw first inflows in a year in May, says WGC

By: Reuters     6th June 2024 Global physically backed gold exchange traded funds (ETFs) attracted their first inflows in May after a year, powered by additions to holdings by Europe- and Asia-listed funds, the World Gold Council (WGC) said on Thursday. Safe-haven demand driven by geopolitical and economic uncertainty, as... 

Ausgold fully funded through to FID

By: Mariaan Webb     6th June 2024 Exploration and development company Ausgold has garnered robust investor support for the Katanning Gold Project (KGP), in Western Australia, successfully raising A$38-million in a two-tranche placement. The fundraising was anchored by international institutional investors, including Jupiter... 

Ausgold fully funded through to FID

B2Gold sells royalties to Versamet

By: Mariaan Webb     6th June 2024 Canada-based B2Gold on Thursday announced the sale of a portfolio of ten precious and base metals royalties to Sandbox Royalties, a private, returns-focused metals royalty company that has been renamed Versamet Royalties. The move, valued at about $90-million, is an opportunity for B2Gold to... 

The transaction includes a 2.7% NSR royalty on the Kiaka gold project, owned by West African Resources.
The transaction includes a 2.7% NSR royalty on the Kiaka gold project, owned by West African Resources.

West Red Lake aims for Madsen restart in H2 2025

By: Mariaan Webb     6th June 2024 TSX-V-listed West Red Lake is gearing up for a big year in 2025. After bolstering its financings through recent fundraisings, the company is setting its sights on restarting the Madsen gold mine, in Ontario, in the second half of next year. The company is currently working on a prefeasibility... 

West Red Lake aims for Madsen restart in H2 2025

SolGold inks exploitation contract for Ecuador copper and gold mine

By: Mariaan Webb     6th June 2024 Dual-listed SolGold has signed an exploitation contract for its flagship Cascabel copper and gold project, in Ecuador. The signing follows successful contractual negotiations and approval of the term sheet by the Ecuador government in July last year. 

SolGold inks exploitation contract for Ecuador copper and gold mine

Peru authorises Barrick to explore mining at southern border

By: Reuters     6th June 2024 Peru's government has authorised miner Barrick Gold to carry out mining explorations in the country's southern border area, the prime minister announced on Wednesday. Peru's constitution requires foreign private investment within 50 km of the country's border to be approved by the Cabinet of... 

Prime Minister Gustavo Adrianzen
Prime Minister Gustavo Adrianzen

London gold body reviews purity concerns about Indonesian state miner

By: Reuters     6th June 2024 The London Bullion Market Association (LBMA) said it is reviewing allegations involving Indonesian state miner Aneka Tambang (Antam) over the purity of its gold products. Indonesia's Attorney General Office has named six former general managers at Antam's Precious Metal Processing and Refining... 

Glencore is said to weigh selling stake in Kazakh miner Kazzinc

By: Bloomberg     6th June 2024 Glencore is considering selling its stake in Kazakh mining company Kazzinc amid interest from potential buyers in China, people familiar with the situation said. A deal could value Glencore’s nearly 70% holding in Kazzinc at several billion dollars, the people said, asking not to be identified... 

Glencore CEO Gary Nagle
Glencore CEO Gary Nagle

Many Peaks raises A$5.2m to fund gold exploration in Côte d’Ivoire

By: Darren Parker     5th June 2024 ASX-listed Many Peaks Minerals has completed a A$5.2-million equity raise within a 24-hour period from a small number of high-net-worth and institutional investors to accelerate exploration over an extensive area of gold-anomalous geochemistry with early but “very encouraging” drilling results at... 

Gold purchases by central banks were strong in April despite high prices, WGC says

By: Reuters     5th June 2024 Net purchases of gold by global central banks rose to 33 metric tons in April from a revised net buying of 3 tons in March, the World Gold Council (WGC) said, signalling continuing strong appetite from the sector despite high prices for the metal. Safe-haven demand, driven by geopolitical and... 

Gold bars

Foremost to spin out past-producing New Mexico mines

By: Creamer Media Reporter      5th June 2024 The Winston Group of Properties, located in New Mexico, is set for a listing of its own, with Nasdaq- and CSE-listed Foremost Lithium announcing its intention to spin out the gold and silver assets into a new subsidiary. The new unit, to be named Rio Grande Resources (RGR), will own the Winston... 

Foremost to spin out past-producing New Mexico mines

Nexus Uranium to separately list its Nevada gold project

By: Mariaan Webb     5th June 2024 North America-focused Nexus Uranium has announced that it will spin off and separately list its Independence gold mine, in the Battle Mountain district of Nevada, on a Canadian exchange. The creation of a new entity holding the project, which is located adjacent to Nevada Gold Mines’... 

Independence is located entirely within Nevada Gold Mines' Phoenix mine permitted plan of operations.
Independence is located entirely within Nevada Gold Mines' Phoenix mine permitted plan of operations.

First call applications for R400m junior mining exploration fund close July 12

By: Martin Creamer     4th June 2024 The first call applications for the R400-million junior mining exploration fund (JMEF) close on July 12. This was stated on Tuesday in a media release issued by the Department of Mineral Resources and Energy (DMRE), in partnership with the Council for Geoscience (CGS) and the Industrial... 

Need for quick exploration activity.
Unless exploration increases fast, the vital mining economy will shrink.

Black Cat raises funds for Paulsens restart

By: Creamer Media Reporter      4th June 2024 ASX-listed Black Cat Syndicated has secured the immediate funding required to start major refurbishment works and mining activities at its Paulsens gold mine, in Western Australia. The company has received firm commitments for A$36-million through a two-tranche placement at A$0.27 a share, with... 

Oriole reports improved definition of gold anomaly at Mbe in Cameroon

By: Darren Parker     4th June 2024 In an exploration update for its 80%-owned Mbe gold project in the Adamawa region of Cameroon, Aim-listed gold exploration company Oriole Resources said it had managed to significantly improve the definition of previous regional gold-in-soil anomalism at the MB01 prospect. The company has... 

Hummingbird bolstered by strong Mali performance, weathers Guinea challenges

By: Tasneem Bulbulia     4th June 2024 Aim-listed Hummingbird became a multi-asset, multi-jurisdiction gold producer in the full -year to December 31, with its Yanfolila mine, in Mali, performing strongly and meeting guidance, and the group achieving first gold production at Kouroussa mine, in Guinea, despite facing challenges in the... 

An image showing operations at Hummingbird's mine in Mali
Yanfolila

GDP decreased by 0.1% in the first quarter

By: Creamer Media Reporter      4th June 2024 South Africa’s GDP decreased by 0.1% in the first quarter of this year, Statistics South Africa reports. The manufacturing industry decreased by 1.4% in the first quarter, contributing -0.2 of a percentage point to the negative GDP growth. Five of the ten manufacturing divisions reported negative... 

A farm in South Africa

Equinox Gold launches ‘Ride to Greenstone’ fundraiser

By: Creamer Media Reporter      4th June 2024 Canadian gold miner Equinox Gold has launched the ‘Ride to Greenstone’, a 3 634 km bike relay from Vancouver, British Columbia, to Geraldton, Ontario, to celebrate the official opening of the new Greenstone mine. The focus of the ride is to raise money for the Geraldton District Hospital, which... 

Equinox Gold launches ‘Ride to Greenstone’ fundraiser

Pan African concludes 5-year wage agreement at Barberton Mines, ESOP matures

By: Tasneem Bulbulia     4th June 2024 JSE-listed Pan African Resources has concluded a milestone five-year wage agreement for increases and other conditions of service with the National Union of Mineworkers (NUM), the representative union for Category 4 to 8 bargaining unit employees, at its Barberton Mines operations. The agreed... 

An image showing Pan African's Barberton mine
Barberton mine

Yukon Metals ready to hit the ground running

By: Creamer Media Reporter      4th June 2024 Exploration newcomer Yukon Metals is ready to hit the ground running, president and CEO Rory Quinn said on Monday, announcing the completion of the acquisition of a portfolio of assets from the Berdahl family’s prospecting company. The property portfolio was built over 30 years of prospecting by... 

Yukon Metals' projects overview
Yukon Metals' projects overview

South Africa’s ARM completes strategic investment in Canada’s Surge Copper 

By: Martin Creamer     3rd June 2024 South Africa’s diversified mining company African Rainbow Minerals has secured its 15% strategic shareholding in Surge Copper, a Toronto Stock Exchange-Venture Exchange company that is advancing an emerging critical metals district in British Columbia, Canada. Johannesburg Stock Exchange-listed... 

African Rainbow Minerals Executive Chairperson Dr Patrice Motsepe
African Rainbow Minerals Executive Chairperson Dr Patrice Motsepe

Caledonia publishes PEA on Bilboes project ahead of new feasibility study

By: Marleny Arnoldi     3rd June 2024 Gold miner Caledonia Mining Corporation has confirmed that it will develop the Bilboes sulphide gold project, in Zimbabwe, in a single phase instead of multiple phases as initially planned, and with a revised approach to the tailings storage facility (TSF). In a preliminary economic assessment... 

Blanket mine shaft
Blanket mine shaft

Osino shareholders approve Yintai’s takeover offer

By: Marleny Arnoldi     3rd June 2024 The majority of TSX- and NYSE-listed Osino Resources Corporation’s shareholders have voted in favour of Chinese miner Yintai Gold’s buyout of Osino at a cash consideration of C$1.90 apiece. The companies are now working to obtain approvals from regulatory authorities in Namibia and China.  

The Twin Hills project, in Namibia
The Twin Hills project, in Namibia

Cyclones slash Australian gold production in March quarter

By: Creamer Media Reporter      3rd June 2024 Australian gold mine production fell to 70 t in the March quarter, from 77 t in the December quarter, as a series of cyclones moved inland, with heavy rain wreaking havoc on the country's main gold producing regions in Western Australia, Queensland and the Northern Territory. “Gold production is... 

Cyclones slash Australian gold production in March quarter
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