R/€ = 16.05 Change: 0.00
R/$ = 14.01 Change: 0.01
Au 1224.87 $/oz Change: 4.28
Pt 854.50 $/oz Change: 8.24


Global gold demand growing across market segments, held back by US ETF outflows

By: Marleny Arnoldi     1st November 2018 World Gold Council (WGC) member and market relations head John Mulligan says the third quarter was a strong one for the global gold industry. Although demand increased by only 1%, or 6 t, compared with the third quarter 2017, the 964 t of gold demand recorded in the third quarter was underpinned... 

Zimbabwe gold producers warn currency shortage threatens output

By: Bloomberg     29th October 2018 Zimbabwean gold producers may suspend operations because a foreign-exchange shortage has left them with insufficient funds to cover production costs, the main industry lobby group said. Curbing output would deprive the country of a key source of export earnings as Finance Minister Mthuli Ncube... 

Organisations raise objections to the draft IRP

By: Kim Cloete     17th October 2018 Industry bodies and organisations have welcomed aspects of the draft Integrated Resource Plan 2018 but have also raised concerns during public hearings held in Parliament on Wednesday. They are hoping that their suggestions will be included in a final plan for South Africa’s energy future. 

Anglo Asian's Azerbaijan gold output rises 47% in Q3

By: Reuters     16th October 2018 Anglo Asian Mining's gold output rose 47% in the third quarter, the London-listed company said on Monday, adding that full-year production would be at the top end of its current guidance. Azerbaijan's leading gold mining firm said it produced 21 318 oz of the metal in the last quarter, against... 

Zimplats held up as mine safety benchmark at Joburg Indaba

By: Martin Creamer     4th October 2018 Zimplats platinum mine in Zimbabwe was held up as a safety benchmark at the Joburg Indaba, which on Thursday observed a minute’s silence for mining colleagues fatally injured at work. Opening the second day of the well-attended event, Gold Fields, Kumba Iron Ore and AfriTin director Terence... 

Mantashe calls for marketing of platinum

By: Martin Creamer     3rd October 2018 A platinum Mandela coin should be minted and marketed and platinum-catalysed fuel cells used to power off-grid areas, Mineral Resources Minister Gwede Mantashe said on Wednesday. In his opening speech to the well-attended Joburg Indaba, Mantashe, who is seven months into the job, said he had... 

Barrick's Bristow bet seen as boosting South America revival

By: Bloomberg     28th September 2018 Mark Bristow built a reputation as the developer and operator of lucrative mines in Africa. Now the world’s biggest gold mining company is betting he can do the same in another complex region, South America. The Randgold Resources founder is set to become CEO of Barrick Gold after Barrick said... 

AMCU, NUM granted certificates of nonresolution in wage talks with Sibanye

By: Marleny Arnoldi     27th September 2018 The Commission for Conciliation, Mediation and Arbitration (CCMA) has granted certificates of nonresolution to the Association of Mineworkers and Construction Union (AMCU) and the National Union of Mineworkers (NUM) regarding gold wage negotiations with Sibanye-Stillwater. The wage negotiations... 

Serabi fills new COO position with Brazilian national

By: Creamer Media Reporter      20th September 2018 Brazil-focused gold mining and development company Serabi on Thursday announced the appointment of Roney Almeida to the newly established position of COO. Almeida, a Brazilian national and resident in Belo Horizonte, will report to Serabi CEO Mike Hodgson. 

W boosts board with Madrid-based directors

By: Creamer Media Reporter      17th September 2018 Tungsten, copper and gold mining company W Resources has appointed two Madrid-based directors, Pablo Neira and James Argalas, as nonexecutive directors. Neira brings over 30 years of international experience specialising in managing listed industrial manufacturing companies and family office... 

AMCU declares dispute with three gold mining companies 

By: Marleny Arnoldi     11th September 2018 The Association of Mineworkers and Construction Union (AMCU) on Tuesday warned gold miners Sibanye-Stillwater, Harmony Gold and Village Main Reef of an imminent strike, should they fail to meet the demands of mineworkers. Wage negotiations in the gold sector started in mid-July, and AMCU and... 

Gold mining battling to attract capital – Holland

By: Martin Creamer     11th September 2018 Capital is not as easily available to gold mining companies as it used to be. Gold producers are having to compete with gold-linked alternatives and can no longer rely on equity as a guaranteed means of financing projects or addressing balance sheet gearing. Making these points at the... 

Australian gold production on the rise

3rd September 2018 Australian gold production in the 2017/18 financial year was its highest since 1997/98, totaling 310 t, mining consultancy Surbiton Associates has reported. In the three months to June, gold production reached 81 t, a 9%, or 6.5 t increase on the previous quarter, and 8%, or 6 t more than the... 

Hundreds of Mazowe Mine employees in Zimbabwe reportedly to be retrenched

By: African News Agency      3rd September 2018 Hundreds of Mazowe Mine employees will reportedly lose their jobs after the company was put under care and maintenance in Zimbabwe. Mazowe Mine is part of the Metallon Corporation group which includes How Mine, Mazowe Mine, Shamva, and Redwing Mine. The employees have reportedly been given three... 

Semafo implements new transport measures for expats in Burkina Faso

By: Simone Liedtke     20th August 2018 Following two armed incidents at TSX-listed gold mining company Semafo’s Mana and Boungou mines, in Burkina Faso, which claimed the lives of eight people in the last two weeks, the company is now transporting all expatriate employees to the mine sites by helicopter. In addition, a ground military... 

AngloGold moves to avoid 2 000 job losses in South Africa region

By: Martin Creamer     20th August 2018 The once overwhelmingly dominant South Africa segment of gold mining company AngloGold Ashanti has been reduced to a mere loss-making shadow of its former self. In the six months to June 30, South Africa produced a mere 10% of the company’s gold unprofitably. 

AngloGold ups half-year earnings, cash flow

By: Martin Creamer     20th August 2018 Solid production and cost performances helped gold-mining company AngloGold Ashanti to deliver higher earnings and cash flow in the first half of this year. The increase in headline earnings of $85-million compared with a loss of $93-million in the first half of 2017 for the company, which is... 

Impairments dent Harmony’s FY18 earnings

By: Schalk Burger     17th August 2018 Despite meeting its production guidance targets and increasing its underground recovered grade by 8%, gold producer Harmony Gold warned in a trading statement on Friday that it expects its full-year headline earnings per share (HEPS) to be 40% to 45% lower than in 2017. HEPS for the year ended... 

Gold Fields remains in ‘strong’ financial position, despite $367m loss, says Holland

By: Simone Liedtke     16th August 2018 Despite attributable losses from continuing operations for the six-month period ended June 30, of $367-million or $0.45 a share, CEO Nick Holland maintains that the NYSE- and JSE-listed Gold Fields remains in a strong financial position. Holland further noted on Thursday that the integrity of the... 

Workers reject latest wage offer by South African gold producers

By: African News Agency      16th August 2018 Workers unions on Wednesday rejected the revised three-year wage offers of up to 7.2% salary increases made by South African gold producers at the a centralised collective bargaining forum. This as the fourth round of wage negotiations between four unions – the  Association of Mineworkers and... 

Battery boom spurs quest to resurrect World War II cobalt mines

By: Bloomberg     15th August 2018 The giant rocky outcrop known by locals as La Cobaltera offers a glimpse into northern Chile’s mining past, and a hint of its future. Slag from an ancient furnace is piled at the entrance of a mine shaft that hasn’t seen commercial activity since World War II. Inside, eucalyptus posts still... 

Randgold looking across the Atlantic

By: Martin Creamer     10th August 2018 African gold mining company Randgold Resources is looking across the Atlantic along the northern edge of South America, which effectively hosts the same geology as West Africa, where the London-listed company has its biggest gold-mining base. This is in addition to intensifying exploration... 

Solidarity, NUM not satisfied with latest gold industry wage increase offer

By: Creamer Media Reporter      2nd August 2018 Trade union Solidarity on Thursday said the latest wage increase offer made by the Minerals Council South Africa on Thursday was lower than its members expected. It pointed out that the council, which is negotiating on behalf of gold mining companies, had offered between a 3.5% and a 4.5%... 

India’s NMDC bags gold mine through highest bid at auctions

By: Ajoy K Das     30th July 2018 Indian State-run iron-ore miner NMDC will mark its maiden foray into gold mining, having bagged a gold mine in the southern province of Andhra Pradesh. NDMC was able to secure the rights to develop and produce from the gold mine emerging as the highest bidder at the auction pipping majors like... 

Rising profits meet trade fears as commodity producers report

By: Bloomberg     24th July 2018 Investors will probably like most of what they see when energy, mining and farm-products companies report earnings for the most recent quarter. It’s the rest of the year they’re worried about. Commodity bellwethers including Exxon Mobil, Freeport-McMoRan, and Archer-Daniels-Midland are among a... 

Detour Gold to enhance board, outlines 'next steps' in building value

By: Mariaan Webb     20th July 2018 Fresh from a week of public disagreements with hedge fund Paulson & Co, Ontario miner Detour Gold on Friday issued a statement detailing the “next steps” in building value for its shareholders, addressing issues around potential offers, an update on the CEO search and enhancements to the board.... 

Detour Gold denies Paulson’s report of potential sale, reports investor to OSC

By: Mariaan Webb     18th July 2018 A major gold mining company has reportedly approached Ontario miner Detour Gold about potentially acquiring the firm, sending its stock up 14% on the TSX on Wednesday. The revelation was made by institutional investor Paulson & Co, which also confirmed that it would go ahead with plans to... 

Anaconda withdraws higher offer for Maritime

By: Mariaan Webb     10th July 2018 Atlantic Canada-focused emerging miner Anaconda Mining on Tuesday rescinded its previously announced proposal to increase its offer price for explorer Maritime Resources, after the TSX-V-listed takeover target pushed through with a private placement financing. Anaconda last week announced that... 

Shanta three months ahead of plan to reduce costs

By: Simone Liedtke     10th July 2018 East Africa-focused gold miner Shanta Gold is three months ahead of its plan to reduce costs by $7-million on an annualised basis. Since announcing its target to reduce annualised costs by a further $2-million in January, the Aim-listed company has achieved an additional $2.1-million of recurring... 

Gold wage negotiations to start on Wednesday

By: Marleny Arnoldi     10th July 2018 Wage talks between mining sector unions and gold producers are expected to start on Wednesday. In a statement released on Tuesday, the Minerals Council South Africa, representing gold miners AngloGold Ashanti, Harmony Gold, Sibanye-Stillwater and Village Main Reef, said the talks would take place... 

Mining companies combating malaria scourge – ICMM

By: Martin Creamer     13th June 2018 Mining companies are taking firm steps to help combat the scourge of malaria, which affects 3.3-billion people worldwide and kills a child every 30 seconds. International Council for Mining and Metals (ICMM) health, safety and product stewardship director John Atherton reports that: 

Kinross Gold celebrates 25-year TSX anniversary

By: Creamer Media Reporter      2nd June 2018 Canada-based senior gold mining company Kinross Gold on Friday celebrated its twenty-fifth year as a listed company on the Toronto Stock Exchange. The senior gold miner, which has mines in the US, Brazil, Russia, Mauritania, Chile and Ghana, started trading on the TSX on June 3, 1993. 

Qld calls for public opinion on old mines

By: Esmarie Iannucci     31st May 2018 The Queensland government has released the Abandoned Mines discussion paper, calling on public input on how to manage old mine sites. Mines Minister Dr Anthony Lynham noted that from the gold rush of the late 1800s to the earliest days of coal, zinc, copper and lead, Queensland has a rich mining... 

Xtract narrows loss as Manica ramps up

By: Anine Kilian     30th May 2018 Aim-listed Xtract Resources has achieved significant progress at its Manica gold project, in Mozambique, in the year ended December 31, 2017. The mine produced its first gold in October, from Sino Minerals, which marked a milestone in the company's history. 

Contractor dies in haul truck accident at Semafo’s Mana mine

By: Simone Liedtke     30th May 2018 An employee at Canada-based gold mining company Semafo’s Mana mine, in Burkina Faso, has passed away after sustaining injuries in a haul truck accident. The accident occurred when the individual, who was driving a haul truck, unexpectedly lost control of the vehicle. 

Kore Potash appoints new CEO

By: Anine Kilian     30th May 2018 Stuart Bradley (Brad) Sampson, once employed by Gold Fields in South Africa and Australia, has been appointed CEO of potash development company Kore Potash, taking over from outgoing CEO Sean Bennett, effective from June 4. Sampson was most recently CEO of ASX-listed Tiger Resources and held... 

Trans-Siberian reports lower FY profit

By: Mariaan Webb     30th May 2018 Russian gold mining company Trans-Siberian Gold (TSG) has generated $2.5-million in profit in 2017, a decrease from the $7-million profit reported in 2016, the owner of the Asacha gold mine, in Kamchatka, reported on Wednesday. Revenue from the sale of 33 870 oz of refined gold and 46 121 oz of... 

EY’s Canadian Mining Eye Index falls in Q1

By: Henry Lazenby     25th May 2018 The EY Canadian Mining Eye Index has shown a decline in first-quarter performance, falling 8% from the fourth quarter of 2017, the professional services firm reported on Thursday. Based on the 2018 operating guidance released by the majority of Canadian gold mining companies, average production... 

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