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Creamer Media Reporter

Gold market retains small surplus; rising ETF demand offsets lower physical demand

26th July 2016 Thomson Reuters GFMS expects the gold price to average $1 279/oz for 2016, compared with its previous forecast of $1 184/oz. In the second-quarter update of its 2016 Gold Survey, Thomson Reuters GFMS attributes the higher forecast to the “impressive gains” posted by gold so far this year and the... 

86 MW Prieska solar plant enters commercial operation

26th July 2016 The 86 MW Mulilo-Sonnedix-Prieska solar photovoltaic (PV) project, in the Northern Cape, has officially started operating commercially, following 17 months of construction. The R1.3-billion project, which is located on a 125 ha site 50 km south-west of Prieska, comprises 275 000 PV modules,... 

Damaged Namibian furnace set for three-week refractory lining replacement – Dundee

26th July 2016 TSX-listed Dundee Precious Metals expects its 2016 concentrate throughput to be about 20 000 t less than planned, after a power outage led to damage to the refractory lining of the Ausmelt furnace at its Tsumeb smelter in Namibia. Subsequent to a power blackout in Namibia on July 22, cooling... 

Rockcliff embarks on $1.7m raising

25th July 2016 Canadian resource exploration company Rockcliff Copper is moving to raise $1.75-million to fund a significant drill programme at its Talbot and Rail properties, in Manitoba. The TSX-V-listed firm is offering 25-million units, comprising one common share and one-half of a common share purchase... 

Petra to reach five-million-carat target earlier than expected

25th July 2016 Following a year of strong growth and record production, Petra Diamonds now expects to reach its five-million-carat-a-year production target in the 2018 financial year – a year sooner than previously anticipated. Petra produced 3.7-million carats in the year ended June 30, a 16% increase on the... 

Acacia could exceed FY output target following strong Q2

22nd July 2016 Following a strong second-quarter performance, LSE-listed Acacia Mining expects its production for the full-year to reach or exceed guidance of 750 000 oz to 780 000 oz. It also expects its full-year all-in sustaining costs (AISC) to come in at the lower end of guidance of $950/oz to $980/oz. 

Centerra closes C$195-million bought deal offering

22nd July 2016 Canadian gold miner Centerra Gold has closed its previously announced C$195-million bought deal offering of subscription receipts, the net proceeds of which will be used to partially fund the redemption of the secured and unsecured notes of the Thompson Creek Metals Company, in connection with... 

AngloGold swings to H1 profit amid higher gold price, weaker currencies

22nd July 2016 A higher gold price and weaker currencies have contributed to AngloGold Ashanti swinging back into profit for the six months ended June 30. The gold miner, led by CEO Srinivasan Venkatakrishnan, expects to report headline earnings of between $87-million and $99-million and headline earnings a... 

Edenville holds ‘constructive’ meetings with Tanzanian authorities

22nd July 2016 Aim-listed Edenville Energy this week held “constructive” meetings with senior representatives of the Tanzania Ministry of Energy and Minerals (MEM) and the Tanzania Electric Supply Company (Tanesco) to discuss the next steps for Edenville to progress its Rukwa coal-to-power project. The meetings... 

Air Products appoints new MD

22nd July 2016 Industrial gas company Air Products South Africa has appointed Robert Richardson as MD, succeeding Mike Hellyar, who will retire after nine years at the helm. Richardson, currently the GM on-sites, would become the fourth MD in Air Products South Africa’s 47-year history. 

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