Mining News
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Pan African Resources, which mines gold in South Africa, increased interim earnings in 2015 by 98% over 2014, to £10.9 million (GBP0.60 per share). Revenue increased by 11% to £75.6 million on the back of gold sales of 101.8 koz (up 17%) and a 11.7% increase in the gold price received, as a fall of […]
Aureus Mining has improved performance and production at its New Liberty gold mine, in Liberia, in the first few weeks of 2016 after raising recovery levels towards design levels. Total gold production since 1 January 2016 is 11.0 koz, versus 17.2 koz produced from the official opening of the mine in August 2015 to the […]
Armadale Capital has completed a feasibility study on the Phase 1 development of its 80%-owned Mpokoto project in the DRC’s Katanga Province. Phase 1 will focus on the oxide and transition ore down to a depth of about 40 m below surface. The feasibility study plans for a series of open pits to mine 10.4 […]
Randgold Resources increased its gold production by 6% in 2015, to 1.21 Moz, from 1.15 Moz in 2014. Earnings per share, at US$2.03, were nevertheless down 20% as the company received a gold price of US$1,153/oz, US$112/oz lower than the previous year. The company managed to reduce its average cash costs slightly to US$679/oz. The […]
Avocet Mining PLC’s 90%-owned Inata mine, in Burkina Faso, produced 74.8 koz of gold in 2015, down 13% from the previous year. Gold production for Q4 15 was more or less in line with Q4 14 at 17.4 koz. Recovery in Q4 improved dramatically to 89% in Q4, taking the average for the year up […]
London metals consultancy, GFMS, believes that gold prices are set for a gradual recovery in 2016 to over US$1,200/oz by year end. Thus far in 2016, the gold price, in US dollars, has climbed to almost 3-month highs as political tension and fears over the world financial system have led to buying interest in the […]
Hummingbird Resources plc has followed up its maiden reserve estimate (see 15 December 2015) at its 85%-owned, Yanfolila gold project, in Mali,with a positive definitive feasibility study (DFS). The DFS is based on the progressive mining of five open pits to feed ore to a 1.24 Mt/y gravity and carbon-in-leach (CIL) plant which, with an average […]
Xtract Resources Plc has completed work on the processing plant at its Chepica gold and copper mine, in Chile, recommended by the Inspector of Mines following a double fatality in the plant on 24 December 2015. The company expects approval shortly to enable the plant to restart. Since the temporary shutdown, the mine has continued […]
Anglo American plc has exited the Tarmac business after selling its interests in the operating joint venture entities which have historically operated under the Tarmac name in the United Arab Emirates, Oman and Qatar to the Bouygues Group. The parties have not disclosed the value of the sale. In July 2015, Anglo American sold its […]
Central Asia Metals plc produced a record 12,071 t of copper at its Kounrad dump leach, solvent extraction and electro-winning copper recovery plant, in Kazakhstan, in 2015, an 8.4% increase on 2014. Q4 15 production was 3,661 t of copper, representing a 36% increase from Q4 14. The company sold 12,040 t of copper cathode […]