The Rawhide Mining LLC Regent Expansion in Mineral County has been approved, the Bureau of Land Management announced Oct. 11. The Rawhide Mining Co. expansion will include construction, mining ore and waste rock, and heap leach activities associated with the Regent Area Expansion and the Denton-Rawhide Mine Area on private and BLM-administered public land. The Denton-Rawhide Mine is about 55 miles southeast of Fallon and 45 miles north of Hawthorne and is an open pit gold and silver mine that commenced operations in the mid-1980s.
The Merian gold mine in east Suriname reached 1 million ounces of gold poured two years after commercial production began Oct. 1, 2016. Merian employs approximately 2,000 people and was built safely, on time and about 20 percent below budget, with total development capital of $525 million invested by Newmont Suriname, a fully owned subsidiary of Newmont Mining Corp., Staatsolie, on behalf of the Government of Suriname, owns 25 percent of the operation. In 2018, the second phase of the Merian project was completed safely, on time and within budget with the construction of a primary crusher to process harder. Based on current gold Reserves, Newmont Suriname projects a mine life of approximately 15 years for Merian.
Itronics Inc. measured surface 0.4 ounce per ton gold and 5 percent copper at the Auric Gold & Minerals Inc.’s Fulstone Gold Silver Zinc Copper exploration project, the company announced Oct. 23. The favorable geology, geochemistry, and geophysics between two sample locations and along the Fulstone Fault in Yerington suggests the potential for discovery of large tonnages of high-grade silver, gold, zinc, and copper mineralization. The company said the sample results justify putting in a sample grid later this fall designed to determine the extent of the gold mineralization at this location.
Newmont declared a quarterly dividend of $0.14 per share of common stock in an announcement Oct. 24. The dividend is payable on Dec. 27 to holders of record at the close of business on Dec. 6. The 14 cent per share dividend is 87 percent higher than the dividend declared in the prior year quarter. This is the fourth consecutive quarter that the company has announced a dividend.
Barrick Gold Corp. shareholders approved the company’s merger with African miner Randgold Resources Ltd. Nov. 5. The approval of issuing Barrick common shares is a step toward creating the world’s largest gold miner, worth a combined $18 billion. More than 99 percent of shareholders voted in favor of the merger and also approved the continuance of Barrick under the Province of British Columbia. The merger is expected to be completed Jan. 1, 2019, subject to approval by Randgold shareholders, and other approvals and closing conditions.
Shareholders of Barrick and Randgold Resources Ltd. will see increased dividends, the companies announced Oct. 31. Randgold shareholders will be entitled to receive a dividend of $2.69 per share for the 2018 financial year, instead of the originally agreed Randgold dividend of $2 per share. Barrick shareholders will be entitled to receive a fourth quarter dividend of $0.07 per share (for an annualized 2018 dividend of $0.16 per share), instead of the originally agreed Barrick fourth quarter dividend of $0.05 per share. Barrick will target an ongoing annual dividend of $0.16 per share, representing an increase of $0.04 per share from the company’s current annual dividend of $0.12 per share. The originally disclosed Randgold dividend was set at $2.00 per share.
Increased water flow in Newmont’s Pete Bajo underground mine led to a brief halt in production but is now under control. “At our Pete Bajo underground operations, an exploration hole drilled from surface temporarily increased water flow into the mine [on Sept. 30],” Newmont wrote in a statement. “The increased flow of water has been controlled and normal operations resumed after a brief pause in production. No employees were injured or at risk during the incident.”
Komatsu Mining Corp. says it plans to build a new headquarters and manufacturing campus in Milwaukee, a project that will bring about 440 jobs to Wisconsin’s largest city. The state’s economic development agency has pledged to make $59.5 million in state income tax credits available to the company over the next 12 years if Komatsu meets job-creation and investment targets.
The Gold Rock mine project in White Pine County got the green light from the BLM for GRP Gold Rock LLC, a wholly owned subsidiary of Fiore Gold Inc., to re-open and expand the existing Easy Junior Mine. The Gold Rock Mine Project will include construction and operation of new facilities. Construction and operation of the project will result in approximately 3,901 acres of authorized disturbance. The project will generate 300 jobs during construction and 15-250 jobs during peak mining operations to the rural economy. The life of the mine is expected to be 10 years.
Newmont was named the Metals and Mining sector leader by the Dow Jones Sustainability World Index for the fourth consecutive year. Newmont was the first gold company named to the index in 2007, and has been included on the DJSI North America Index every year since 2006. The company made the announcement Sept. 13.
Premier Gold Mines LTD. plans to acquire the Rodeo Creek property in the Carlin Trend from Ely Gold Royalties Inc., the company announced in November. Rodeo Creek is a 510-acre land package consisting of 31 unpatented claims strategically located adjoining Premier’s 40 percent owned South Arturo property, and approximately 6 miles northwest from Barrick Gold Corp.’s Goldstrike Operations. The project also abuts Halliburton’s Rossi Barite mine at its north boundary. Premier will have the option to acquire a 100 percent interest in the project by making payments to Ely Gold in the amount of $500,000 over a five-year period, and Ely Gold will retain a 2 percent net smelter royalty.
Halliburton Energy Services is proposing an amendment to the plan of operations for its Rossi barite mine near Dunphy. The proposed expansion would include increasing the existing project boundary and the existing open pits, the development of new open pits, development and expansion of waste rock disposal facilities, and development of new roads, including re-alignment of segments of the Boulder Valley Road and Antelope-Boulder Connector Road. The proposed action also includes installation of new power distribution lines, the continuation of surface exploration, and reclamation activities. The BLM accepted public comments on the draft environmental impact statement through Nov. 5.
Newmont will expand its Phoenix open pit gold and copper mine outside of Battle Mountain now that the BLM approved the project. The expansion would be on BLM-managed public land and would extend mining from 2040 to 2063, according to a draft of the proposal. Proposed activities consist of expansion through consolidation of existing pits as well as the expansion of the existing waste rock facility, tailings storage facility, heap leach facility, and clay soil borrow area.
An Arizona prospector realizes he’s lucky to be alive after surviving nearly three days at the bottom of an old abandoned gold mine shaft in the Arizona desert and staring down rattlesnakes, The Associated Press reported. John Waddell, 60, broke his left leg and ankle when the rigging he used to lower himself into the 100-foot shaft about 90 miles northwest of Phoenix broke on Oct. 15. He was finally rescued Oct. 17 when a friend drove to the mine and heard his cries for help.
The Joy Global Foundation, in partnership with Komatsu Mining Corp., has shown its commitment to supporting organizations that serve the local communities in which its employees live, work and play by making a $10,000 contribution to the Boys & Girls Clubs of Elko, the companies announced in late October.
Employees at Turquoise Ridge working on the third shaft removed an electrical substation that had previously powered the old mill facility. The scrap metal was excavated and recycled. Copper components found in the scrap materials yielded $27,000. Henri Gonin, Turquoise Ridge JV general manager, along with employees, decided to donate the proceeds from the copper to benefit schools in Winnemucca and the surrounding communities. Proceeds from the copper sale were dispersed to the Humboldt and Lander County school districts this summer.
Newmont won the Large Cap category at the National Association of Corporate Directors’ inaugural NACD NXT Recognition Awards. Newmont was chosen from among 25 nominated boards of directors for excellence in harnessing board diversity and innovation as a strategy for creating long-term value.
Barrick and Newmont are reportedly in talks to combine their Nevada gold mining operations, Reuters reported Nov. 5, citing anonymous sources. The two miners explored a joint venture in 2014 but did not reach a deal.