South Africa's Gold Fields says KPMG still external auditors

South African gold mining company Gold Fields said on Friday that KPMG remains its external auditor but it will continue to monitor future developments. “The Gold Fields board of directors has considered the matter and will be closely following future developments in this area. KPMG remain the company’s external auditors,” the company said in a […]

Interview with Kitco News: Forget GDXJ…

Finding the right mining companies to invest in is not an easy task and that’s why newsletter writer Jordan Roy-Byrne says it is important to focus attention on a few things before making your picks. Speaking with Kitco News at the Precious Metals Summit, the mining analyst and publisher of the Daily Gold newsletter said […]

Eldorado defers decision to halt operations in Greece as talks with Gov’t begin

Canada’s Eldorado Gold’s (TSX:ELD)(NYSE:EGO), Greece’s biggest foreign investor, is temporarily postponing its decision to halt operations and investment in the country as it begins talks with the government. “We are very pleased with the constructive dialogue that is underway with the Ministry of Energy and Environment,” chief executive George Burns said in the statement. “[However] we preserve […]

Miner Hochschild boosts hunt for acquisitions — executive

Precious metals miner Hochschild Mining Plc is doubling down on efforts to find early-stage mining projects to acquire and is open to deposits that depart from its focus on silver and gold, the chief executive said on Wednesday. Speaking at the mining convention Perumin in southern Peru, Ignacio Bustamante said the company was mostly looking […]

A day for the zama zamas: Illegal gold mining in South Africa

Due to socio-economic problems such as growing unemployment and poverty rates in South Africa, there has been rise in illegal gold mining. The Daily Sun recently released videos showing a little bit of the reality for these underground miners known as ‘zama zamas,’ which in Zulu loosely translates to “those who try to get something […]

Gold sinks below $1,300 after Fed ends era of easy money

The gold price sunk below $1,300 an ounce on Wednesday after the US Federal Reserve threw its nine-year old stimulus programme into reverse and signalled that it could raise rates again before the end of the year. In another day of heavy volumes with over 32m ounces changing hands on the Comex market in New York […]

A Diamond Play with Development, Discovery Potential

The November 1991 discovery of diamonds in the Northwest Territories by prospectors Chuck Fipke and Stu Blusson put Canada on the global diamond map. It also triggered one of the largest staking rushes in the world, as hundreds of companies hurried north to find treasure. A few years later, many had retreated to warmer climes. […]

BHP Olympic Dam produces first copper cathode from heap leach pilot plan

Bureau Veritas’ State-of-the Art Mineral Testing Facility in Adelaide is supporting BHP and South Australia to achieve their Copper Growth Strategies Bureau Veritas, world leaders in testing, inspection and certification services, has been working with BHP’s Olympic Dam on their Heap Leach Project since the early development work commenced in 2012. The test programme has […]

Endeavour to add 14 years to Ity mine life as it kicks off plant construction

Shares in Canada’s Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) were up more than 2.5% Wednesday after the company announced that is going ahead with the construction of a Carbon-in-Leach (“CIL”) plant at its Ity gold mine in Côte d’Ivoire. The West Africa-focused firm said the project, which requires an initial investment of $412 million, will extend the life of […]

Tanzania orders wall built around tanzanite mines, purchases of stones

Tanzania’s president has ordered the military to build walls around its tanzanite mines and directed the central bank to buy the precious stone to boost reserves — the latest twist in a spat with mining firms over alleged tax evasion. “All tanzanite gemstones will be controlled and will pass through one gate and he (Magufuli) ordered the […]

Barrick's Munk donates $100 million to cardiovascular care centre

University Health Network (UHN) announced today that The Peter and Melanie Munk Charitable Foundation is increasing its support to the Peter Munk Cardiac Centre (PMCC) with a transformative gift of $100 million. This gift, which will bring the Munks’ support of UHN and the PMCC to more than $175 million since 1993, will primarily be […]

Philippines delays environment minister nomination approval over mining woes

Philippine lawmakers deferred Wednesday their expected appointment confirmation of the country’s environment and natural resources minister Roy Cimatu, amid pressure from pro-mining groups hurt by policies put in place by the previous secretary and which he has vowed to keep in place. Former minister Lopez had to leave the post after the same legislative panel […]

Brazil mining reform is raising costs for industry – Vale exec

Mining reforms in Brazil are raising the cost of operating without generating increased interest in investing in the sector, an executive for world’s largest iron ore producer Vale said on Monday. Brazil President Michel Temer issued decrees in July to boost mining royalties, create a new industry regulator and streamline regulations, arguing that efficient and […]

South Africa labour disputes drag Petra Diamonds shares down

Shares in Petra Diamonds (LON:PDL) dropped almost 6% Tuesday after the company reported fresh labour disruptions at two of its mines in South Africa, amid talks to reach a new wage agreement. Petra revealed there had been disruption at its Finsch mine and Kimberley joint venture operations since Monday night. Workers at Petra’s Finsch mine and […]

Peruvian farmer sues Newmont in US court over alleged use of violence, threats

Peruvian farmer Máxima Acuña de Chaupe, a vocal opponent to Newmont Mining’s (NYSE:NEM) activity in her home country, is now suing the company in a US federal court over allegations it used violence and threats to try evicting her from her home to make way for its Conga gold and copper project. The suit filed […]

Cryptocurrencies and avoiding the “poof moment”…

I am writing this at the behest of David Schectman for Miles Franklin readers as he wanted my opinion on cryptocurrencies.  Let’s start by saying I have no doubt within only a short time, “crypto currencies” will be issued and embraced by central banks.  This is not to say I am endorsing Bitcoin, Ethereum or […]