The miner is receiving an upfront cash payment of $155 million for AuRico Metals’ royalty portfolio and about $45 million payable in four tranches for Kemess's silver output.
Gold Mining News
Despite mining contributing about 6 per cent of the country's GDP, a study revealed that almost six out of 10 of young Australians know nothing at all about mining careers.
Rising interest rates have trimmed the metal’s gains.
Zimbabwe has attracted intense interest from miners with a promise of favourable terms as it seeks to reboot its economy after veteran leader Robert Mugabe was ousted last year.
Commercial production is expected in the second quarter of the year.
The London Bullion Market Association has suspended the Ekaterinburg Non-Ferrous Metals Processing Plant from its gold and silver good delivery lists due to "ownership related issues".
Bullion brought down by US bond yields at seven year high and a bounce back for the dollar.
The group is seeking a total investment of $246 million for the refineries and related processing centres, in Ghana and the Democratic Republic of Congo.
Chief executive Jean Sebastien-Jacques said the challenge for the industry is to ensure the benefits from the past frugal years are not lost against a backdrop of rising oil prices and increased political risk.
By mid-morning, Lonmin shares had lost 5.6% of their value in London, while Sibanye’s were down 4.9% in Johannesburg, even though the companies announced they had received the approval of the South African Reserve Bank (SARB).
Conditions may be in place for increased demand and increased prices for a number of commodities including natural gas, copper, aluminum, and gold.
Shanta Gold will conduct further exploration near its main mine in Tanzania after cutting costs in the past year to cope with tougher mining laws.
For the second time in a year, London-listed miner Petropavlovsk Plc is in the middle of a shareholder coup to throw out the board and revive its fortunes.
The company expects both the province and the federal government environmental decisions on the gold-silver project to be issued in the third quarter of the year.
Thor Explorations' Segilola project would be Nigeria's first large-scale gold mine, and it's expected to come online in early 2020.
Converting the power plant that feeds the Pueblo Viejo mine from heavy fuel oil to natural gas is expected to reduce the operation’s average cost of sales and all-in sustaining costs by about $54 per ounce.
The Deputy Secretary for Sustainable Mining is scheduled to meet with executives from Australia's largest mining companies and banks.
Orvana Minerals’ subsidiary in Spain has plans to reopen the Carlés gold mine, located in the Salas municipality of the Principality of Asturias.
According to the miner, five other rescued employees remain in a stable condition and are making good progress.
In Q1 2018, the mine produced 124,296 ounces, some 30,000 ounces below Q4 2017 levels but a 14 per cent increase y-o-y.
The Honduran subsidiary of Aura Minerals has angered the citizens of the town of Azacualpa by removing over 350 corpses from a cemetery to make space for its San Andres open-pit gold mine.
The agreement is aimed at ensuring that the Indigenous group receives a share of the mineral tax revenue collected from the Brucejack Gold Mine.
The project joins two mines - one belonging to Goldcorp and the other to Teck Resources.
Companies have said the cycle of double-digit, above-inflation pay hikes cannot be sustained, unless prices rise considerably.
The mine, behind schedule ever since it began producing in May 2014, has been affected by a series of technical problems in its ramp-up phase, costing its owners hefty impairment charges.