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Gold Fields sells 51% stake in Peru project to JV partner

Gold major Gold Fields will sell its 51% stake in the Chucapaca gold mine, in Peru, to its joint venture partner in the project Compañía de Minas Buenaventura for $81-million. In addition to the $81-million, Gold Fields would also receive a 1.5%...
19th August 2014

B2Gold swings to Q2 net loss, expects output to rise

Canadian gold miner B2Gold has swung to a net loss during the three months ended June 30, despite a 4% rise in output. The TSX-, NYSE MKT- and Namibia-listed miner reported a quarterly net loss of $11.5-million, or $0.02 a share, compared with net...
15th August 2014

Hummingbird draws down $10m for Yanfolila development

Gold explorer Hummingbird Resources’ wholly owned subsidiary, Trochilidae Resources, has drawn down the $10-million available to it under the Taurus Mining Finance Fund bridge facility. This facility was the first of a two-phase debt facility...
15th August 2014

Despite gaining less in 2013, EY's Canadian Mining Eye outpaces global indices

Despite professional services firm EY’s quarterly ‘Canadian Mining Eye’ index having gained only 9% in the three months ended June 30, the index outperformed the S&P/TSX composite index, which gained only 6% during the second quarter, and...
12th August 2014

Record production pushes Endeavour to profit

Dual-listed gold miner Endeavour Mining has swung to profit during the June quarter, on the back of record gold production from its mines in Africa. During the second quarter, Endeavour reported earnings before interest, tax, depreciation and...
12th August 2014

Earthquake-hit AngloGold cannot say when it will return to normal Video Available

AngloGold Ashanti CEO Srinivasan Venkatakrishnan (Venkat) Gold major AngloGold Ashanti is unable to forecast when it will be back to normal at its earthquake-hit Great Noligwa and Moab Khotsong mines, where it expects to lose 30 000 oz as a consequence of the 5.3 magnitude earthquake near Stilfontein on...
11th August 2014

Hummingbird secures $75m financing for Yanfolila development

Gold exploration and development company Hummingbird Resources has reached an agreement with Taurus Mining Finance Fund for a $75-million, two-phase debt facility that would enable the company to fund the construction of its Yanfolila project, in...
11th August 2014
Company Announcement

AngloGold Output up 17%, Costs Improve on Record Safety Result PDF Available

AngloGold Ashanti reported a 17% increase in production for the second quarter compared with the same period a year earlier, as its two new mines continued to contribute lower-cost ounces, and a strong safety performance helped its South Africa...
11th August 2014

AngloGold Ashanti output up 17%, earthquake-hit mines restarting

AngloGold Ashanti CEO Srinivasan Venkatakrishnan South African gold major AngloGold Ashanti on Monday reported a 17% increase in production for the second quarter compared with the same period a year earlier, with its two new mines continuing to contribute lower-cost ounces, and a strong safety...
11th August 2014

It’s simple, Mr US President, just fund Africa’s capacity – Randgold

Randgold CEO Dr Mark Bristow The builder of five gold mines in Africa, who is currently exploring for a sixth, has a simple message for US President Barack Obama, who this week hosted the US-Africa Leaders Summit with the objective of turning Africa into a viable emerging...
7th August 2014

Randgold tightens precautions amid Ebola concerns

West Africa-focused gold miner Randgold Resources has moved to implement safety measures as some countries in West Africa were fighting an outbreak of Ebola. Randgold operated four gold mines and had exploration programmes in Mali, Côte...
6th August 2014

Loulo-Gounkoto making ‘significant’ contribution to Mali economy

Loulo-Gounkoto complex Gold mining company Randgold Resources’ Loulo-Gounkoto gold mining complex, in Mali, contributed about 8% of the country’s gross domestic product, demonstrating the importance of the complex to the local economy, Randgold CE Dr Mark Bristow...
1st August 2014
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