Russia sees 12.2% surge in gold production

Gold output in Russia rose by 12.2 per cent in the first ten months of this year compared with the same period in 2008.
This is according to the Russian Gold Industrialists’ Union, which said that mining firms in the country produced 171.2 tonnes of the precious metal between January and October 2009, compared with 152.5 tonnes last year, Reuters reports.
The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Read more….

Gold coin boosts charity collection

Charity fundraisers have had their Christmas spirits lifted after an anonymous donor slipped a gold coin into a Salvation Army collection in Illinois.
The one-ounce American Eagle gold coin was found in the collection buckets of volunteers in Bradley, Major Jerry O’Neil of Kankakee Salvation Army told the Daily Journal.
The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Read more….

Gold discovery in Ethiopia granted exploration licence

A gold discovery described as "significant" has been made in the Afar region of northern Ethiopia.
Following this discovery, exploration and development company Stratex International has been granted a three-year exclusive exploration licence (EEL) to cover the 1,579 square km area that surrounds the gold find.
The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Read more….

Australia ousts US as second-biggest gold producer, SA slips to fourth

Australia has surpassed the US as the world’s second-biggest gold-producing country in the first half of 2009, and is on track to maintain that ranking for the full year, Melbourne-based mining consultants Surbiton Associates said at the weekend.

China is the world’s number-one producer of the precious metal, with South Africa – which was the top gold-producing country for more than 100 years – slipping to fourth place.

Read more….

Noront raises offer for Freewest, topping Cliffs

Toronto-based Noront Resources has jumped back into the fight for Freewest Resources Canada, raising an earlier hostile bid to beat a friendly offer for Freewest from US miner Cliffs Natural Resources.

Noront said on Monday that its “final” offer, of two Noront shares and a five-year purchase warrant for each seven Freewest shares, will expire on December 11 and will not be increased.

Read more….

Construction starts on new 10 Mt/y Australian iron-ore mine

Construction is now officially under way on the Karara iron-ore project, in Western Australia, Gindalbie Metals, which is developing the mine in a joint-venture (JV) with China’s Ansteel, said on Monday.

Initial site clearing activities and preliminary earthworks started at Karara in early November, following the receipt of final Commonwealth environmental approval at the end of October and State Government environmental approval in September.

Read more….

Harmony worker killed at Free State mine

South African gold producer Harmony on Monday reported a fatality at the Merriespruit 3 shaft in the Free State.

The accident at Merriespruit shaft, which forms part of its Virginia operations, occurred as a result of a tramming accident, the group said in a statement.

Read more….

Dubai debt fallout clears; industrial commods rise

Commodity investors put fears of a Dubai-fueled debt crisis and a surge in the dollar to the back of their minds on Monday as last week’s rollercoaster ride for industrial raw materials turned into a gentle undulation.

Hopes that the fallout from Dubai’s debt standstill will be limited helped Asian stocks recover from sharp falls last week, while the dollar fell 0,6% against major currencies after climbing more than 1% the previous session.

Read more….

Randgold hikes indicated resource at Kibali 23%

LSE- and Nasdaq-listed Randgold Resources has increased the indicated mineral resource at its Kibali project in the Democratic Republic of Congo (DRC) by 23%, the company announced on Monday.

In October, Randgold and AngloGold acquired Moto Goldmines, for its 70% stake in the large Moto gold project (since renamed Kibali), and the companies said earlier this month they had reached an agreement with a DRC government-owned company to buy another 20% in the project.

Read more….

Great Basin reports power-infrastructure progress in SA

JSE- and TSX-listed Great Basin Gold reported on Monday that the construction of the power infrastructure necessary to supply its Burnstone mine, in South Africa, would start in January 2010.

The design work on the first two lines between the switching station, which would be positioned between power utility Eskom’s Grootvlei power station and the Burnstone mine, had been completed and material ordered.

Read more….

« Previous Page — Next Page »