Western Australia-based miners Red 5 and Silver Lake Resources have entered into a merger of equals, creating a diversified gold producer with a significant ore reserve and mineral resource inventory of 4 million ounces and 12.4 million oz., respectively. Under the terms of the transaction, Red 5 will acquire 100% of the shares in Silver Lake and each Silver Lake…
Read MoreMongolia’s top gold producer is about to be formed with the acquisition of Boroo Gold by Steppe Gold, the latter announced 22 January. Steppe officials said it has entered into a binding term sheet creating a producer in Mongolia with a near-term production target of 200,000 ounces per year, including the committed ATO Gold Mine Phase 2 expansion. Boroo Gold…
Read MoreContractor Perenti has secured extensions for a trio of contracts in Australia, Ghana and Burkina Faso worth a total of A$420 million. The contract extensions include a 12-month, $125 million contract extension to continue underground development and production works at the Gold Fields Agnew underground gold mine as well as a 12-month, $180 million contract extension at the AngloGold Ashanti’s…
Read MoreThe U.S. Supreme Court has declined to hear a case by Alaska to revive a proposed copper and gold mine in the state’s Bristol Bay region, reported the Associated Press. The Environmental Protection Agency rejected the mine proposal last year citing potential impacts on the aquatic ecosystem. Full story.
Read MoreA group of 15 workers from a small-scale gold operation in Zimbabwe have been rescued alive after a shaft collapse, according to local media citing Mines Minister Soda Zhemu. Bloomberg and Reuters both reported that the incident occurred 5 January at the Redwing gold mine east of Harare, which is owned by Metallon Corp. Zhema, which spoke at the scene,…
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China Gold International said overall operations at its CSH gold mine in Inner Mongolia have returned to full production, effective 3 January, following slope maintenance. The Canadian-based miner reported in November that the mining rate was reduced at the end of the third quarter and into the fourth quarter in order to enhance the management and maintenance of open pit…
Read MoreSaudi Arabian Mining Company (Ma’aden) has discovered multiple gold deposits south of its existing Mansourah-Massarah gold mine in the central region of the Middle Eastern country, indicating the potential for expansion, reported Reuters. Ma’aden said that the finds, along a 100-kilometer (62-mile) strip, were the first from an exploration program launched in 2022. Samples taken indicated the presence of high…
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Barrick Gold said it has begun recommissioning the Porgera gold mine in Papua New Guinea following the formal completion of a commencement agreement. Porgera, an open pit and underground gold mine, has been in care and maintenance since April 2020. Barrick said it anticipates mining and processing to restart in the first quarter of 2024. The equity in the mine…
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Photo: B2Gold Technology group Wärtsilä has signed a five-year renewal of its operation and maintenance agreement with B2Gold subsidiary Philippine Gold Processing & Refining for the Masbate gold mine power plant. Wärtsilä has operated and maintained the plant, which is the sole source of electricity for the remote mine, since 2009. “The plant’s availability, efficiency and reliability are critical to…
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Canadian-based K92 Mining, which owns the Kainantu gold mine in Papua New Guinea (PNG), confirmed 6 July that underground mining operations resumed that day following the deaths of two of its workers. Full story.
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