Red 5, Silver Lake form mid-tier gold company

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…

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Perenti scores millions in Oz, Africa deal extensions

Contractor 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…

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Barrick starts Porgera recommissioning

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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Barrick restarts production at Porgera

Following an agreement on new ownership structure, Barrick Gold announced that its Porgera mine in Papua New Guinea will resume operations this month with first gold to be poured in Q1 2024. “It’s been a long journey but in the process we have secured the buy-in of all the stakeholders and we look forward to steering the mine back to…

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Perenti picked for Newmont Subika contract

Perenti Limited and its UMA joint venture African Underground Mining Services (AUMS) has been awarded a new five-year, A$630 million deal for work at the Newmont Subika underground gold mine in Ghana. Under the terms of the contract, which is effective from 1 January 2023, Perenti will perform all underground development and production activities, diamond drilling and associated support services…

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