Newmont: Work On Ahafo Expansion Still Suspended After Fatalities
Newmont Mining Corp. (NYSE: NEM) says the Ahofo mill expansion andall civil surface construction work remain suspended until the company andauthorities “are satisfied that work can resume safely.” Six construction contract workers were killedin an accident on Saturday, and an investigation is being led by theInspectorate Division of Ghana’s MineralsCommission. Newmont temporarily suspended production at both its Ahafoand Akyem mines in Ghana,although operations have restarted at both following extended safetydiscussions and risk assessments with employees, the company says. However,work on the Ahafo mill expansion project remains shut down. The accidentoccurred when eight people were working inside a surface reclaim facility, andthe roof collapsed during the placement of concrete, Newmont says. Two escapedwith minor injuries. The company is providing “support and counseling servicesto the families, the employees of the contract construction company, as well asthe entire workforce at Ahafo,” Newmont adds.
By Allen Sykoraof Kitco News; asykora@kitco.com
Kinross: Russian Operations Unaffected By U.S. Sanctions
Tuesday April 10, 2018 08:23
Kinross Gold Corp. (TSX: K; NYSE: KGC) says that company miningoperations in Russia have not been impacted by sanctions against Russiaannounced by the U.S. late last week. Kinross says it will closely monitor anysanction legislation in Canada, the U.S. and European Union to ensure that thecompany and its subsidiaries remain in compliance. “Kinross has successfullyoperated in Russia for over 20 years and has proactively developed anddiversified its procurement and logistics structures in the country,” Kinrosssays.
By Allen Sykoraof Kitco News; asykora@kitco.com
Roxgold Reports Record Output At Yaramoko Mine
Tuesday April 10, 2018 08:23
Roxgold Inc. (TSX: ROXG) announces recordfirst-quarter production of 40,452 ounces of gold from the Yaramoko gold minein Burkina Faso, with the company saying the result was ahead of expectations. “This achievement was a result ofconsistent optimization and improvement at Yaramoko across all aspects of theoperation,” says John Dorward, president and chief executive officer. “During thequarter, we initiated the development of Bagassi South, our second high-gradeunderground gold mine, which is on schedule to add 40,000 ounces to Yaramoko’sannual production in Q4 2018.”
By Allen Sykoraof Kitco News; asykora@kitco.com
Royal Gold Sells 63,000 Gold-Equivalent Ounces
Tuesday April 10, 2018 08:23
Royal Gold, Inc. (NASDAQ: RGLD) says that subsidiary RGLDGold AG sold approximately 63,000 gold-equivalent ounces - consisting ofsome 49,000 gold ounces, 272,000 silver ounces and 2,000 tonnes of copper -through streaming agreements during the 2018 third quarter ending March31. The company also says it had approximately 26,000 gold ounces and 659,000silver ounces in inventory at March 31, 2018, an increaseover the prior quarter due to deliveries received late in the quarter. Averagerealized gold, silver and copper prices for the third quarter were $1,328 perounce, $16.77 per ounce, and $6,902 pertonne ($3.13 per pound), respectively, compared to $1,272, $16.79,and $6,746 ($3.06 per pound) inthe prior quarter. Third-quarter deliveries were not impacted by the temporaryshutdown of the mill processing facility at Mount Milligan thatoccurred in early 2018, Royal Gold says. “Due to the timing of shipments anddeliveries of gold and copper, we expect the impact of the temporary shutdownto be reflected in Royal Gold’s mid-calendar 2018 results, as some of thedeliveries of gold and copper that were expected in the June through August2018 period will be deferred to a later date,” the company says.
By Allen SykoraFor Kitco News
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asykora@kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.