Friday, May 25, 2018

South African gold miner DRDGold has secured R108m for its R300m pipeline and plant expansion project at its Ergo operation.

A new report shows gold miners have turned to net hedging for the first time since 2005, but it was mostly due to project financing and there was little appetite for "strategic" hedging.

The search for the remaining missing miner at the Bambanani Mine in the Free State has ended with the recovery of his remains.

Gold is expected to surge higher than $1,400/oz, but the experts are at loggerheds about how long the commodity will stay at the top.

AngloGold Ashanti expected its Obuasi mine in Ghana to produce about 400,000 ounces a year from 2012, a 14% uplift.

Harmony has recovered the body of one of two miners who had gone missing after a tremor at the Bambanani mine, which forced the suspension of operations.

Galaxy Gold was unfazed by the JSE's ruling preventing it from a proposed listing, saying the action was "not a show stopper'.

The gold price shot through a fresh all-time high after the release of grim US economic data.

Participants at the London Bullion Market Association annual conference voted that gold would reach at price of $1,406/oz in the coming 12 months.

Operations at Harmony Gold's Bambanani mine in South Africa has remained suspended after an earth tremor.