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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... 

Gold industry running risk of becoming irrelevant – Bristow

By: Martin Creamer     10th May 2018 The gold mining industry is running the risk of becoming irrelevant to the investment community. “It hasn’t delivered much value for a long time,” Randgold Resources CEO Dr Mark Bristow commented to Mining Weekly Online during an interview to mark the company’s presentation of first-quarter... 

South African output rises as AngloGold delivers at lower cost

By: Martin Creamer     8th May 2018 The smaller South African footprint of gold-mining company AngloGold Ashanti, consisting of one underground mine and one tailings treatment operation on surface, delivered impressive first-quarter results with rising production and reduced rand-denominated costs. Production rocketed 29% at... 

Tailings tailwind bolsters Pan African as rand gold price falls 

By: Martin Creamer     13th February 2018 The tailings retreatment tailwinds blowing strongly into Pan African Resources are poised to ameliorate the blow that the low rand gold price is delivering to the company's more cost-intensive underground operations. Coming in brilliantly ahead of schedule and below budget is the Eilikhulu... 

Kibali Africa’s most mechanised gold mine – Randgold

By: Martin Creamer     2nd November 2017 If you want to make money in mining, you must be efficient and a company taking efficiency to new heights in Africa is Randgold Resources. While there is a perception in some developed world minds that in Africa mineworkers arrive at the gate, pick up a spade and go out there and shovel stuff,... 

Tailings-savvy DRDGold inviting collaboration, consolidation 

By: Martin Creamer     12th September 2017 Surface gold mining company DRDGold, the oldest company listed on the Johannesburg Stock Exchange with more experience than any other mining company in the recovery of gold from tailings dumps, believes that the time may have arrived for the transplanting of its remarkable expertise to other... 

Gold extends rally to 2017 high as North Korea test adds to angst

By: Bloomberg     29th August 2017 Gold rose to the highest this year after North Korea fired a ballistic missile over Japan, boosting haven demand and extending a rally fuelled by declines in the dollar. An index of precious-metals mining stocks touched a four-month high. The greenback fell for a third day to its lowest since... 

Tanzania’s 55% share of mine revenue ‘pretty generous’ – AngloGold  

By: Martin Creamer     21st August 2017 The share of revenues that the government of Tanzania has received from the Geita gold mine is “pretty generous” when compared with what shareholders have received, AngloGold Ashanti CEO Srinivasan Venkatakrishnan said on Monday when the company reported an adjusted headline loss of $93-million,... 

On-The-Air (12/05/2017) 

By: Martin Creamer     12th May 2017 SA’s biggest gold-mining company is proving that deep can be cheap at its Mponeng mine on the Far West Rand; Palladium is overtaking platinum as the metal of choice to clean the air over the world’s biggest cities; and the Lonmin mine in Rustenburg is being coerced into creating 1 500 additional... 

Ending mine fatalities most pressing 2017 priority – AngloGold

By: Martin Creamer     21st February 2017 The first and most pressing of AngloGold Ashanti’s key 2017 priorities is to put an end to mine fatalities by improving workplace conditions and bettering legal compliance, AngloGold Ashanti chief operating officer South Africa Chris Sheppard said on Tuesday, when the company posted stunning... 

Gold from woodchips, grease, mine muck surprises on upside 

By: Martin Creamer     21st November 2016 The recovery of gold from mine waste at Goldplat Recovery in Benoni generates a surprisingly high level of revenue while simultaneously protecting the environment and providing hundreds of valuable jobs. The London Aim-listed Goldplat, a bona fide junior producer from secondary material, last... 

AngloGold free cash soaring

By: Martin Creamer     14th November 2016 The generation of free cash by gold mining company AngloGold Ashanti is soaring. Free cash flow of $161-million in the third quarter is 54% higher than the free cash flow generated in the six months to June 30. 

DMR must be challenged, good governance must be assured

By: Martin Creamer     7th November 2016 Mining has the wealth-generating potential to boost economies, but countries blessed with a mineral endowment must at least do their bit by assuring good governance. Regrettably, against the background of the recently released 'State of Capture' report of former Public Protector Thuli Madonsela,... 

Randgold earmarks slice of orebody value for mine communities

By: Martin Creamer     4th November 2016 The sustainability activity of gold-mining company Randgold Resources is built on the premise of devoting part of the value of its orebodies to communities around its mines, in a way that aims to elevate the quality of life and leave an ongoing economic legacy after the orebody has been mined... 

Gold climbs to one-month high as dollar drops before Fed meeting

By: Bloomberg     2nd November 2016 Gold rose to the highest in almost a month as the dollar weakened and investors awaited the US Federal Reserve’s interest-rate decision on Wednesday. Shares of gold-mining companies also advanced. Bullion gained a fourth day, the longest run in a month, as the Bloomberg Spot Dollar Index... 

Gold believers from Soros to UBS lose faith in miners’ gain

By: Bloomberg     26th August 2016 The red-hot market for gold-mining companies has made the shares too expensive for some investors, even though they remain bullish on the outlook for bullion. Earlier this year, fund managers including George Soros had gobbled up shares of producers such as Barrick Gold and Newmont Mining in a... 

Gold mining not spending enough to sustain industry into future – Holland

By: Martin Creamer     22nd August 2016 The gold mining industry is not spending enough to sustain the industry into the future. Slowed primary gold supply growth is making a case for the belief that the industry may be close to hitting a peak in production amid slower exploration spend and a virtual halt to new projects. 

World heading for shortage of physical gold – DRDGold  

By: Martin Creamer     25th July 2016 Confidence in the world order and the ability of governments to manipulate the value of fiat currency is seen to be diminishing, as is confidence in governments as credible sources of capital. What the world does in such circumstances is buy gold but there may not be enough gold to buy because of... 

Sibanye investing R3.9bn in gold mines

By: Martin Creamer     20th April 2016 Mining company Sibanye Gold is forecasting a capital expenditure of R3.9-billion ($250-million) on its gold assets in its 2016 financial year. Sibanye CEO Neal Froneman told the European Gold Forum in Zurich on Wednesday that capital investment of R1.6-billion ($115-million) had been approved... 

Confident, cash-pumping Harmony stands by 1.1Moz production forecast

By: Martin Creamer     14th April 2016 A confident, cash-pumping Harmony Gold on Thursday told the market that its 1.1-million-ounce production forecast for the financial year to June 30 still stood. The JSE- and NYSE-listed gold mining company outlined in a release to Creamer Media’s Mining Weekly Online that production in the March... 

Record rand gold price prompts Sibanye to call employees, unions back to the table 

By: Martin Creamer     25th February 2016 In an unprecedented move, the record rand price of gold has prompted gold mining company Sibanye Gold to exercise its bona fides by calling on its employees, unions and associations to return to the table, not to reopen wage negotiations, but to enter into a dialogue on an innovative social and... 

AngloGold new tech continuing to show ‘pleasing' progress 

By: Martin Creamer     22nd February 2016 The innovative technology project being undertaken by gold-mining company AngloGold Ashanti is continuing to show "pleasing"progress with the successful deployment of the company's latest generation reef-boring machine at the company’s TauTona lower carbon leader shaft pillar. Speaking at... 

Anglo engaging harshest critics, Indaba hears

By: Martin Creamer     10th February 2016 Anglo American is engaging with its harshest critics because they are often the best people to learn from, Anglo American CEO Mark Cutifani said during a panel discussion at the 2016 Investing in African Mining Indaba. Moderated by International Council on Mining and Metals (ICMM) CEO Tom... 

Early 2016 ‘recap or idle’ decision on Ghana mine – Gold Fields 

By: Martin Creamer     15th December 2015 The outcome of an independent study into Gold Fields’ Damang gold mine in Ghana will determine whether mine’s central pit is recapitalised, possibly at a level of $100-million, or its inherent value preserved until gold prices recover. “We should be in a position to announce a decision early next... 

Fed hike could knock gold price down to $1 000/oz – Gold Fields  

By: Martin Creamer     19th November 2015 A raising of US interest rates in December could knock gold back to a level of $1 000/oz, Gold Fields CEO Nick Holland said on Thursday, when the company saw its share price soar 29% to R39.98 a share, the most in a single day since September 1999. This followed the company's South Deep mine... 

Gold production hiatus on way – Gold Fields

By: Martin Creamer     3rd November 2015 Expenditure on exploration has been declining to such an extent that a break in the continuity of global gold production is inevitable. “It’s only a question of when,” says Gold Fields CEO Nick Holland, who points out that it currently takes 18 years to get a mine from grassroots exploration... 

Sustainability key as gold talks with a difference kick off

By: Martin Creamer     22nd June 2015 The sustainability of South Africa’s hard-pressed gold-mining industry is expected to be at the heart of the industry’s crucial set of wage talks that began in Boksburg on Monday. The five gold-mining companies concerned are expected to ask their 120 000 employees to accept inflation-related... 

Cash-enriched Randgold taking African mining tech to new high

By: Martin Creamer     7th May 2015 A big technological step for African mining is being taken at the Loulo mine, in Mali, run by Randgold Resources, the London-listed gold-mining company which on Thursday reported boosted cash and improved profit in the three months to March 31, on the back of lower costs. Randgold, which also... 

Turbines boosting mine power – AngloGold  

By: Martin Creamer     2nd March 2015 Gold major AngloGold Ashanti is installing turbines in underground mines to boost energy regeneration, as part of a strategy of recovering electricity without spending significant amounts of capital. “What we’ve done is put in energy regeneration and capture plants in the form of turbines at two... 

AngloGold in mass meetings with workers ahead of wage talks 

By: Martin Creamer     23rd February 2015 Gold major AngloGold Ashanti on Monday outlined how it had conducted eight days of mass meetings with unlimited question-and-answer sessions with all of its mineworkers, ahead of the crucial gold industry wage talks. With support of organised labour, the company had conducted the mass meetings... 

AngloGold production up 8%, all-in costs down 13%

By: Martin Creamer     23rd February 2015 Two consecutive years of production growth plus a 13% improvement in all-in sustaining costs (AISC) have been posted by gold major AngloGold Ashanti. “A very good production performance,” AngloGold Ashanti CEO Srinivasan (Venkat) Venkatakrishnan told Creamer Media’s Mining Weekly Online in a... 

Record-quarter Sibanye forecasting best ever 2015 gold output

By: Martin Creamer     27th January 2015 South Africa-focused gold-mining company Sibanye Gold, which achieved record latest quarter production, is forecasting best ever output for the new year. Sibanye, headed by CEO Neal Froneman, which hit the 452 700 oz (14 079 kg) quarterly high spot in the three months to December 31, is guiding... 

Central Rand Gold raising $1.85m to boost surface mining

By: Martin Creamer     17th December 2014 London- and Johannesburg-listed gold-mining company Central Rand Gold, which is currently being courted by three Chinese suitors, is taking steps to raise $1.85-million in equity capital to boost surface mining production, bring idled underground equipment to surface and reduce staff. The focus... 

Resilient Randgold planning dividend delivery

By: Martin Creamer     6th November 2014 Resilient Randgold Resources, which has returned to its debt-free status after repaying its revolving credit facility, said on Thursday that its dividend plans remained firmly in place, despite the gold mining industry as a whole finding itself in a tight spot as the price of the precious metal... 

Pan African gold earnings fall, maiden platinum profit, dividend proposed

By: Martin Creamer     16th September 2014 The headline earnings a share of London Aim- andJSE-listed gold-mining company Pan African Resources fell on lower grade-hit gold earnings but platinum generated profitable cash for the first time. 

Restructure, recap able to deliver more bang for buck – AngloGold

By: Martin Creamer     11th September 2014 The restructured and recapitalised AngloGold Ashanti would be able to deliver more bang for the buck as the South African operations morphed from six to three and the international assets were cut loose to strut their own stuff, an upbeat CEO Srinivasan Venkatakrishnan (Venkat) outlined following... 

Sibanye negotiating new work shift arrangements with unions 

By: Martin Creamer     13th August 2014 South Africa-focused gold-mining company Sibanye Gold is negotiating new working shift arrangements with its labour unions to allow migrant workers to return home more frequently and simultaneously facilitate the sweating of assets by increasing the number of days worked a year. The JSE- and... 

Sibanye Gold set to pay R1bn-a-year minimum dividend to 2028 

By: Martin Creamer     31st July 2014 South Africa-focused Sibanye Gold, which on Thursday posted its sixth consecutive above-guidance quarter, has set its sights on being a benchmark dividend payer in the gold-mining sector. The Johannesburg- and New York-listed gold-mining company paid an interim dividend for the six months to... 

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