News

A common theme among gold miners presenting at Mining Indaba this year was a desire to grow through the drill bit amid an expected decline in gold production (reports MiningNews). The World Gold Council noted global gold production dropped by 1% in 2019, the first decline since 2008. According to a slide shown by Barrick Gold's Mark Bristow, global gold production will peak this year, while the WGC now believes it may have peaked in 2018. "Even if all the projects in the pipeline come to fruition, it's all downhill from there," Bristow told delegates.

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Australian investors are likely to notice a wave of media reports about the $90 billion LNG construction industry about to take off in Mozambique...

Over the next few months, Australian investors are likely to notice a wave of media reports about the $90 billion LNG construction industry about to take off in Mozambique. Until now, this massive investment in what will be four world-scale LNG projects has received virtually no coverage in Australia because they do not involve the usual ASX-listed petroleum companies such as Woodside and Santos.

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Saracen Mineral Holdings has celebrated the 10-year anniversary of the first gold pour at the Carosue Dam operations...

Saracen Mineral Holdings has celebrated the 10-year anniversary of the first gold pour at the Carosue Dam operations (reports MiningNews). The company, which has just experienced one of the biggest quarters in its history, paused to reflect on its history this week. Carosue Dam, Saracen's first operation, poured first gold on January 29, 2010. Saracen took a group of current and former staff and early company backers to site to mark the occasion on Wednesday.

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Upbeat assessment augurs well for what looks like being a much better year for exploration, with Rio pushing ahead with its Antipa JV while juniors Stavely, Chalice, Alkane and Nagambie are among those revving up expectations for the new year.

The about-to-end flood of December quarterly reports from the big and small players in the mining space has confirmed that on the exploration front at least, 2020 is shaping up as something special compared with the hit and miss of previous years. No less than Newcrest (NCM) proved the point on Thursday with its update on drill results from the  Havieron gold-copper discovery, 45km east of its ageing and grade-challenged Telfer gold/copper mine in WA’s Paterson province.

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The coronavirus roller-coaster which drove industrial metals down and gold up is showing signs of slowing...

The coronavirus roller-coaster which drove industrial metals down and gold up is showing signs of slowing, which could be a time for investors to consider a spot of bargain-basement shopping – but there’s no need to rush. Risks remain high and the fear generated by a mutant killer virus is having a real effect on some sections of financial and commodity markets. But if the last virus outbreak, Severe Acute Respiratory Syndrome (SARS) in 2003 is a guide, then a strong recovery is likely.

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The boss of Saracen Mineral Holdings says Northern Star Resources’ acquisition of a 50 per cent stake in the Kalgoorlie Super Pit could be the start of a beautiful and profitable partnership ...

The boss of Saracen Mineral Holdings says Northern Star Resources’ acquisition of a 50 per cent stake in the Kalgoorlie Super Pit could be the start of a beautiful and profitable partnership (reports The West Australian). Speaking after the gold miner posted record quarterly production yesterday, Raleigh Finlayson described Saracen’s $1.1 billion November acquisition of Barrick’s non-operating stake in the Super Pit as a “watershed moment”.

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Saracen Mineral Holdings has reported a record quarter of production from its Western Australian gold operations (reports MiningNews). Group production for the December quarter was 120,127 ounces of gold at all-in sustaining costs of A$1098 an ounce. Thunderbox produced a record 46,594oz, while Carosue Dam produced a near-record 52,899oz. The result included the first contribution of 20,634oz at AISC of $1522/oz from Saracen's one-month owning 50% of Kalgoorlie's Super Pit.

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Northern Star Resources boss Bill Beament says the company's close alignment with Super Pit co-owner Saracen Mineral Holdings has the potential to add even more value to the iconic gold mining operation...

Northern Star Resources boss Bill Beament says the company's close alignment with Super Pit co-owner Saracen Mineral Holdings has the potential to add even more value to the iconic gold mining operation (reports The Australian Financial Review).

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