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Metals and Mining Gold Mining

  • *Burkina overtakes Tanzania as Africa's No. 4 gold producer. OUAGADOUGOU, Feb 16- Burkina Faso expects to produce a record 55 tonnes of gold in 2018, a two-thirds increase on five years ago, as new projects in the landlocked West African country come on tap, the mines minister told Reuters in an interview. That puts it ahead of Tanzania as Africa's fourth-biggest...

  • *Underlying profit slid to $116 mln in 6 mths to Dec. 31. Feb 16- Australia's top gold miner, Newcrest Mining Ltd, expects output to grow in the coming months as its flagship site gradually ramps up after operations there were hit by an earthquake last year, its chief executive said on Friday. That comes a day after the company reported a 58- percent slide in underlying...

  • VANCOUVER, British Columbia _ Sandstorm Gold Ltd. on Thursday reported fourth-quarter net income of $709,000, after reporting a loss in the same period a year earlier. On a per-share basis, the Vancouver, British Columbia- based company said it had net income of less than 1 cent. Sandstorm Gold shares have climbed roughly 3 percent since the beginning of the year.

  • *Underlying profit slid to $116 mln in 6 mths to Dec. 31. *That was down from $273 million the year before. Underlying profit slid to $116 million in the six months to Dec. 31, down from $273 million the year before and below a forecast of $143 million based on the average of three estimates in a poll of analysts.

  • Disbelief among South Africans that Jacob Zuma is gone

    CNBC Africa's Karabo Letlhatlha reports on Zuma's exit and the state of the country's mining industry.

  • Toronto- based Barrick said it expects to produce between 4.5 million and 5 million ounces of gold this year, at a cost of between $765 and $815 an ounce on an all-in sustaining basis, the industry benchmark. Further out, Barrick, which has mines in the Americas, Australia and Africa, expects to produce between 4.2 million and 4.6 million ounces of gold a year between...

  • TORONTO _ Barrick Gold Corp. on Wednesday reported a fourth-quarter loss of $314 million, after reporting a profit in the same period a year earlier. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share. Barrick Gold shares have declined roughly 6 percent since the beginning of the year.

  • TORONTO _ Kinross Gold Corp. on Wednesday reported fourth-quarter net income of $217.6 million, after reporting a loss in the same period a year earlier. The Toronto- based company said it had profit of 17 cents per share. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

  • Based on its currently-held assets, Toronto- based Barrick said it expects to produce an average of between 4.2 million and 4.6 million ounces of gold a year between 2019 and 2022 at all-in sustaining costs of $750 to $875 per ounce. In the fourth quarter, Barrick's adjusted net earnings were flat at $253 million, or 22 cents a share, from $255 million, or 22 cents a...

  • NEW YORK, Feb 14- Paulson& Co kept its stake in SPDR Gold Trust at 4.36 million shares during the fourth quarter of 2017, though the value rose to $539.1 million, up from $530 million in the third quarter, a U.S. Securities and Exchange Commission filing showed on Wednesday.

  • Barrick, the world's biggest gold producer by ounces, reported a net loss of $314 million, or a loss of 27 cents a share, in the quarter to end-December from a profit of $425 million, or 36 cents a share, in the same period a year ago.

  • TORONTO, Feb 14- Teck Resources Ltd, the world's second-biggest exporter of steelmaking coal, said on Wednesday that growing global steel production is expected to boost demand for its coal in 2018, though coal trade competition will also likely rise. Vancouver- based Teck, which also mines copper, zinc, gold and oil sands, said it is "feeling pretty good about 2018"...

  • JOHANNESBURG, Feb 14- Gold Fields Ltd will continue to evaluate and focus on efficiency at its loss-making South African asset, South Deep, after production fell below guidance in 2017, the bullion miner said on Wednesday. South Deep, which has faced operational challenges in an unforgiving geology 3 km beneath the surface, made a loss of 337.6 million rand in...

  • TORONTO, Feb 14- Canada's Teck Resources Ltd, the world's second-biggest exporter of steelmaking coal, reported an in-line fourth-quarter adjusted profit as lower operating costs helped offset a fall in sales of metallurgical coal. Teck, which also mines copper, zinc and gold, said its adjusted profit fell to C $700 million, or C $1.21 per share, in the three months...

  • TORONTO, Feb 14- Canada's Teck Resources Ltd, the world's second-biggest exporter of steelmaking coal, reported a 32.9 percent decline in fourth-quarter adjusted profit on Wednesday, as production declined at steelmaking coal business unit and average prices of metallurgical coal and metals fell. Teck, which also mines copper, zinc and gold, said its adjusted...

  • BAKU, Feb 12- Azerbaijan's top gold producer, Anglo Asian Mining, said on Monday that it would be able to refinance most of its debt and free up capital for expanding its Gedabek mine after a subsidiary secured a $15 million syndicated loan. Following the refinancing, the London- listed group said its debt principal repayment will fall to $5.1 million this year,...

  • TORONTO, Feb 9- Canada's main stock index fell on Friday, closing at its lowest level in five months, reflecting weakness in mining stocks as gold futures and copper prices declined. *The Toronto Stock Exchange's S&P/TSX composite index closed down 31.08 points, or 0.21 percent, to 15,034.53. shed 7.1 percent, New Gold dropped by 6.3 percent and Oceangold Corp was...

  • TORONTO, Feb 9- Canada's main stock index fell on Friday, closing at its lowest level for five months reflecting weakness in mining stocks as gold futures and copper prices declined.

  • TORONTO, Feb 9- Canada's main stock index seesawed on Friday as the financial and industrial groups rose, offsetting a decline in gold mining shares and in Sierra Wireless Inc after the company reported a fourth quarter loss after the bell on Thursday. The Toronto Stock Exchange's S&P/TSX composite index rose 15.29 points, or 0.1 percent, to 15,080.90, shortly...

  • CONGO'S GOLD PRODUCTION INCREASED 2.7 PERCENT IN 2017 TO 23,270 KG- CHAMBER OF MINES.