Miners area are teaming up to develop one of Ghana’s newest gold mine, the Asanko Gold Mine (AGM), located in the Ashanti Region.
Gold Fields Mining News
Additional cuts are to come across mines and towns in South Africa, once the world’s biggest producer of gold.
The South African gold producer is setting aside pursuit of new acquisitions for a year as it focuses on its existing operations and nearby prospects instead, the bullion producer's chief executive told Reuters late on Tuesday.
The parties said they believed an out-of-court settlement was far preferable for all concerned than an inevitably lengthy and expensive litigation process .
Most claimants are black miners from South Africa and neighbouring countries such as Lesotho, whom critics say were not provided with adequate protection during and even after the Apartheid ended in 1994.
South African miner reported lower production for the March quarter and flagged more challenges at its problematic South Deep mine on Wednesday, sending its share price sharply lower.
Salares Norte production to begin around 2021 and quickly achieve target output of 345,000 ounces of gold a year.
Companies are teaming up to develop one of the country’s newest gold mine, the Asanko Gold Mine (AGM).
The Minister of Lands and Natural Resources announced that he has agreed to sign a Memorandum of Understanding with protesting workers.
Rough year shuffles ranks of global gold mining giants as Freeport makes a comeback – 2018 forecasts point to another tumultuous year.
The buyer, Perth-based Red 5, is also acquiring Saracen Mineral Holdings' King of the Hills mine.
The 10 largest gold mining companies produce 30% of the world's gold and enjoy some of the sector's fattest margins.
As 2017 gold price rally begins to look shaky, top listed gold producers are being punished disproportionately.
Only three of the world's largest gold producers managed to lift output in 2016 – Barrick loses 600,000 ounces of annual production but slashes costs.
Heavy losses across the board – Barrick down 4.6% in massive volumes and second tier Canadian miners hardest hit.
The Johannesburg-based company, however, said it remained interested in a negotiated transaction.
Offer came on the heels of Kirkland Lake's move to buy fellow bullion miner Newmarket Gold (TSX:NMI) in an all-stock deal worth about Cdn$1 billion ($764 million).
The investment will extend the life of the mine by eight years to 2024, in which the firm expects to produce 1.56 million ounces of gold there.
They will appeal verdict that paved the way for about half a million current and former miners to proceed with a multi-million-dollar suit, which seeks compensation for those who contracted lung diseases.
The class action the firms want to appeal to, paves the way for thousands of current and former miners suffering from silicosis and tuberculosis to seek damage compensation from the companies.
If the class action goes ahead, it will affect almost every gold mine in South Africa, including their parent companies, covering their conduct over the last 50 years.
They will dispute the country's High Court decision last month to allow a class action suit seeking damages for up to half a million miners who contracted silicosis and tuberculosis.
High Court decision opens the way for up to 500,000 current and former miners to pursue a multi-million-dollar lawsuit against mining companies over respiratory diseases contracted at work.
The firm has not yet decided whether to inject more cash into Damang or suspend operations.
Top miners BHP Billiton, Rio Tinto, Vale and Anglo American are among the firms at risk of rating downgrade.