Sunday, April 22, 2018

Randgold & Exploration, which recently re-listed on the JSE after a five-year absence, has reported a massive jump in first half earnings by posting a profit of R792.8m compared to R11.1m previously.

China has given a spur to the gold market by announcing plans to allow more commercial banks in its borders to trade in gold bars.

Aurora Empowerment Systems says the Grootvlei mine would double its capacity to pump acid mine water, possibly as early as Friday.

DRDGold believes efforts to make it pay more to treat mine water containing dangerous acids was unconstitutional and that it would fight the matter vigorously.

Kinross has bid $7bn in paper for Red Back Mining in a proposal that gives the Canadian firm access to gold mines in Ghana and Mauritania.

Randgold Resources has revised downwards its production guidance from its Loulo mine in Mali following a quarter the group described as "difficult".

The June quarterly reporting season kicks off on Thursday and analyst expectations are high for better numbers all round from the SA gold miners.

Holdings in the world's largest gold-backed exchange traded fund fell to their lowest levels since early June - a development that could cap gold's rebound, analysts said.

Gold miner Centamin Egypt has produced a lower than expected 30 236 ounces in the quarter to end June, but says it remains on track to produce 200 000 ounces in 2010.

Work stoppages hurt production at Gold One International but the gold producer said annual metal output targets remain firmly in its sights.