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AfriTin seeks to raise £5.5m in share placement

By: Marleny Arnoldi     23rd May 2018 Aim-listed tin development company AfriTin Mining hopes to raise £5.5-million in an accelerated bookbuild to fast-track the work programme at its flagship Uis mine, in Namibia.  

EIUG, associate organisation appoint board members

By: Marleny Arnoldi     7th May 2018 The Energy Intensive User Group (EIUG) and its associated organisation, the Industry Task Team on Climate Change (ITTCC), on Monday announced their new chairpersons, who were elected at the yearly general meetings of the two bodies.  

Coal miners next to launch lung disease compensation claims

By: Simone Liedtke     4th May 2018 The Southern African Catholic Bishops Conference (SACBC) Justice and Peace Commission and Richard Spoor Attorneys say coal miners are the next in line to seek compensation for occupational lung diseases. "The battle to secure justice for sick miners in South Africa is not over. We are working... 

Lawyer expects to sign gold miners' silicosis settlement Thursday

By: Reuters     2nd May 2018 A lawyer acting for nearly half a million miners who contracted fatal lung diseases silicosis and tuberculosis in mines said an out-of-court settlement was expected to be signed on Thursday with those gold companies implicated in the issue. The High Court in 2016 set the stage for protracted... 

Gold Fields lowers South Deep’s FY guidance after below-expectation Q1 performance

By: Marleny Arnoldi     25th April 2018 A below expectation performance at its South Deep mine, in Johannesburg, contributed to a 1% year-on-year and a 10% quarter-on-quarter decrease in Gold Fields’ output for the quarter ended March 31. Production for the quarter was 490 000 oz. 

Gold Road/Gold Fields JV flags Gruyere delay, possible cost increases

By: Esmarie Swanepoel     23rd April 2018 The Gruyere gold project, in Western Australia, is likely to be late in delivering its first gold, project developers Gold Road Resources and Gold Fields have warned, with the companies also flagging possible cost increases. The joint venture (JV) partners said on Monday that the abnormal... 

Gold Fields to make decision on Chile gold mine next year

By: Reuters     12th April 2018 South African miner Gold Fields will complete preparatory work in 2019 at its Salares Norte project, in northern Chile, and is eyeing potential output of around 345 000 oz/y of gold at the site by the early 2020s, a company executive said. Gold Fields will decide whether to give the go-ahead for... 

Strong rand eroding South African gold mines’ margins 

By: Natasha Odendaal     6th April 2018 While the strengthening of South Africa’s rand against the dollar in recent months has been widely welcomed by many, it has somewhat dampened the outlook for exporters and mining firms reliant on a weakened currency to widen margins. For South Africa’s gold mining industry, the resultant decline... 

Gold Fields buys stake in Asanko gold mine in Ghana

By: Simone Liedtke     29th March 2018 South African miner Gold Fields has teamed up with Canada-based Asanko Gold in Ghana, with the gold miners announcing on Thursday that the JSE-listed major would buy a 45% interest in the Asanko gold mine (AGM) for $185-million. The companies have agreed to form a 50:50 joint venture (JV), which... 

Energy-intensive firms say carbon tax wrong tool for reducing power emissions

By: Terence Creamer     14th March 2018 The Industry Task Team on Climate Change (ITTCC), which includes many of South Africa’s largest mining and industrial companies, says the proposed carbon tax will have no material impact on reducing carbon emissions from the electricity sector, which is responsible for around half of the... 

Biggest Ghana mine union plans strikes over Gold Fields jobs

By: Bloomberg     9th March 2018 Ghana’s largest mineworkers’ union plans protests and strikes throughout operations in the country if the government allows Gold Fields’s local unit to dismiss more than 2,000 staff as it starts the process of hiring a contractor to operate its biggest mine in the West African nation. Gold Fields... 

Huge gold reserves under the city of Johannesburg – historian  

By: Nadine James     2nd March 2018 There should be significant reserves of gold north of the Main Reef line, buried beneath the built up areas of Johannesburg and Langlaagte, among others, posits Kloofendal Nature Reserve historian Rod. R. Kruger in his paper; ‘The Origins of the Original Witwatersrand Gold Fields’. “When George... 

Ghana to tighten controls on gold exports to protect revenues

By: Reuters     28th February 2018 Ghana will certify the value of gold exports as part of efforts to tighten controls on the sector to ensure the state receives the revenues it is due, the vice president said on Tuesday. Ghana, Africa's second largest gold miner after South Africa, earned $5.78 billion from exports of the metal... 

Preferred hydraulic mining contractors selected for Century tailings

By: Creamer Media Reporter      22nd February 2018 ASX-listed New Century Resources has selected Australia-based National Pump and Energy (NPE) and South Africa-based Paragon Tailings as the preferred contractors for hydraulic mining service works for the Century tailings deposit, in north-west Queensland. NPE and Paragon have proposed a... 

Beacon buys surplus process plant equipment from Kin Mining

By: Mariaan Webb     22nd February 2018 Gold development company Beacon Minerals on Thursday announced that it would buy several items of the mothballed Lawlers processing plant from Kin Mining to use in its Jaurdi gold project, north-west of Coolgardie, Western Australia. Beacon has executed a purchase agreement to acquire the... 

Resources Watch  

22nd February 2018 Gold Fields going all out to put South Deep gold mine into black And, South African foundry aims to expand footprint in North America 

On-The-Air (16/02/2018) 

By: Martin Creamer     16th February 2018 Gold Fields is spending R200-million a year on training at its big mechanised gold mine in Gauteng. Northam yesterday switched on R900-million worth of extra platinum power on in Limpopo. The strong rand is hitting underground gold mining very hard.  

Gold Fields going all out to put South Deep gold mine into black 

By: Martin Creamer     14th February 2018 Gold Fields is going all out to push Gauteng's uniquely mechanised deep-level South Deep gold mine into the black once and for all. The company is ploughing R200-million a year into training, which it believes will set South Africa on an exciting new successful course in the pioneering fields of... 

Gold Fields pays dividend on net loss, flat production, two fatalities

By: Martin Creamer     14th February 2018 Gold mining company Gold Fields on Wednesday announced a final dividend on a net loss and flat production, impacted by two fatalities. As per its trading statement released on February 8, headline earnings for 2017 were $194-million, or $0.24 a share, and net loss for the year was $35-million, or... 

Gold Fields expects up to 12% decrease in FY17 HEPS

By: Megan van Wyngaardt     8th February 2018 Dual-listed Gold Fields on Thursday said it expected as much as a 12% drop in its headline earnings per share (HEPS) for the 2017 financial year. HEPS would be between $0.23 to $0.26 apiece. 

Gold Road consolidates Yamarna belt ownership

By: Simone Liedtke     5th February 2018 Mid-tier gold development and exploration company Gold Road Resources has signed a sale agreement to acquire joint venture (JV) partner Sumitomo Metal Mining Oceania's 50% interest in the South Yamarna project for A$7-million in cash and certain rights of first refusal and first negotiation. The... 

Red 5 starts off 2018 on strong foot

By: Megan van Wyngaardt     31st January 2018 Australian gold producer Red 5 reported a strong first quarter, producing 17 777 oz in the three months to December 31, 2017, paired with sales of 16 150 oz from its recently acquired Darlot mining operation, in Western Australia. All-in sustaining cost for the quarter was A$1 291/oz. 

Gold Fields sells Finnish platinum project

By: Creamer Media Reporter      24th January 2018 Dual-listed Gold Fields has sold its palladium-rich, polymetallic Arctic platinum project (APP), in northern Finland, to Finnish subsidiary of private equity fund CD Capital Natural Resources Fund III. The purchase consideration includes $40-million in cash and a 2% net smelter return royalty on... 

Gruyere construction nearly one-third complete

By: Creamer Media Reporter      18th January 2018 The Gruyere gold project, which Australian junior Gold Road and South African major Gold Fields are building in a 50:50 joint venture near Laverton, Western Australia, is advancing according to schedule. With early works at Gruyere having started in December 2016, construction has now been in... 

Hummingbird’s Yanfolila pours first gold, maintains commercial production ramp-up plans

By: Mia Breytenbach     16th January 2018 With Aim-listed Hummingbird Resources having started gold production at its Mali-based Yanfolila gold mine on time and within budget in the second half of last month, the gold producer remains on track with its ramp-up to commercial production. Since acquiring the project from Gold Fields in... 

SCA postpones silicosis class action hearing

By: Megan van Wyngaardt     10th January 2018 The ongoing silicosis and tuberculosis class action litigation against South African gold miners has been postponed, following a request by representative attorneys to the registrar at the Supreme Court of Appeal (SCA) to do so. The SCA has granted approval for the postponement. The joint letter... 

Gold Fields Ghana to dismiss 1 500 staff as contractor hired

By: Bloomberg     12th December 2017 Gold Fields’ unit in Ghana said it will dismiss 1 500 of its own staff as the company is hiring a contractor to operate its biggest mine in the West African nation. A contractor will take charge of the Tarkwa operations from early 2018 as the deposit’s remaining life span is too short to replace... 

Former South African Reserve Bank governor joins Glencore board

By: Creamer Media Reporter      7th December 2017 Diversified mining group Glencore has appointed the former governor of South Africa’s Reserve Bank, Gill Marcus, to its board as a nonexecutive director. Announcing the appointment on Thursday, chairperson Tony Hayward said that Marcus would be an asset to the Glencore board. 

On-The-Air (24/11/2017) 

By: Martin Creamer     24th November 2017 Turning mine dump sand into gold received a major boost this week when Sibanye and DRDGold joined forces; Sasol this week announced a new growth strategy that shuns its pioneering technologies of turning coal into petrol and gas into diesel; Gold Fields this week became the second mining company... 

Gold Fields invests R6m to boost mechanised mining skills

By: Nadine James     22nd November 2017 South African gold miner Gold Fields on Wednesday announced a R6-million, three-year partnership with the University of the Witwatersrand (Wits) to further academic knowledge in the field of mechanised mining and rock engineering in South Africa. Gold Fields CEO Nick Holland and Wits... 

Gold miners shifting focus back to growth

By: Megan van Wyngaardt     22nd November 2017 While global gold miners will gradually shift their focus from financial austerity to growth through acquisitions and increased spending, miners operating in sub-Saharan Africa (SSA) will face elevated costs owing to regulatory uncertainty, power shortages and labour unrest, according to... 

Gold Road locks in portion of Gruyere’s production

By: Creamer Media Reporter      20th November 2017 Gold development and exploration company Gold Road, which is building the Gruyere gold mine in a joint venture with South Africa’s Gold Fields, has entered into forward sales with two major banks for up to 200 000 oz of Australian dollar denominated forward sales. To date, the company has locked... 

Cora Gold lists on Aim; to advance Mali exploration

By: Anine Kilian     9th October 2017 West Africa-focused gold developer Cora Gold has started trading on the Aim. As part of the admission process, the company has raised £3.45-million through the placing and subscription of 20.93-million new ordinary shares at a placing price of 16.5p each, implying a market capitalisation of... 

Exploration spend will be WA royalty hike’s first casualty

By: Esmarie Swanepoel     4th October 2017 Western Australian gold miners have warned the state government that an increase in gold royalties would not only result in massive job losses across the state, but could also jeopardise the future of the sector as less money will be put towards exploration. Speaking at a round-table in Perth on... 

Red 5 outlines plans for newly acquired WA gold assets

By: Esmarie Swanepoel     2nd October 2017 ASX-listed Red 5 has joined the rank of Australian gold producers after completing the purchase of the King of the Hills and Darlot gold mines, in Western Australia. The company in August unveiled plans to acquire the Darlot gold mine from South Africa’s Gold Fields for a total consideration of... 

Red 5 warns of further impairments

By: Esmarie Swanepoel     21st September 2017 Gold miner Red 5 has warned of a noncash impairment of between A$28-million and A$30-million on the carrying value of its Siana gold project, in the Philippines. The impairment charge expected to be recorded in the June year-end will be in addition to the A$70.4-million expense recorded in the... 

Moody’s praises South African miners’ restructuring initiatives

By: African News Agency      12th September 2017 Moody’s Investor Relations on Tuesday praised the restructuring initiatives made by South African gold and platinum group metals (PGM) miners in a bid to protect the sustainability and profitability, saying that these were benefiting their credit profiles. In a report on Tuesday, Moody’s vice... 

Unnurtured mining industry will disappear – Sibanye-Stillwater 

By: Martin Creamer     30th August 2017 An unnurtured South African mining industry will disappear, Sibanye-Stillwater CEO Neal Froneman warned on Wednesday, when he slated the regulator for allowing illegal mining activity to spiral out of control and for causing equity risk and the cost of capital to rise, placing mining companies at... 

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