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Rob Atkinson To Become Newmont COO In June

Kitco News

Rob Atkinson, a mining-industry executive for 25 years, will succeed Tom Palmer as executive vice president and chief operating officer of Newmont Mining Corp. (NYSE: NEM), effective June 1, the company reports. Palmer is currently president and chief operating officer but will be taking over the company’s helm as chief executive officer when Gary Goldberg retires in the fourth quarter as part of a planned leadership succession. Atkinson most recently was head of productivity and technical support for Rio Tinto and was responsible for the company’s $5 billion productivity-improvement strategy. “Over a 25-year mining career delivering step-change improvements in safety, productivity and sustainability, Rob will further enhance the depth and quality of Newmont’s team,” Palmer says of Atkinson. Last month, Newmont reached a deal to acquire Goldcorp Inc. (TSX: G, NYSE: GG).

By Allen Sykora of Kitco News; asykora@kitco.com

 

McEwen: Gold Bar Mine On Pace For First Output In Late Feb.

Tuesday February 5, 2019 08:25

McEwen Mining Inc. (NYSE, TSX: MUX) says construction of the Gold Bar Mine in Nevada is nearing completion, with the mine on schedule for inaugural gold production in late February. “Commercial production will follow when the mine’s systems reach a steady state, which is expected by the end of Q1,” the company says. “The project is tracking on our original capital cost estimate of $81.4 million.” McEwen estimates that the Gold Bar Mine will produce 55,000 ounces gold in 2019 at an all-in cost of approximately $975 per ounce. The company adds that December and January were “challenging months” at the site, with heavy snow and cold temperatures delaying some work.

By Allen Sykora of Kitco News; asykora@kitco.com

 

OceanaGold Receives Permits For Martha Underground Project

Tuesday February 5, 2019 08:25

OceanaGold Corp. (TSX, ASX: OGC) says a statutory appeal period for the Martha underground project permitting process has ended with no appeals filed, meaning the project has received its resource permits. The project is at the Waihi Gold Mine in New Zealand. The company has started preparing management plans and detailed mine designs to allow mining to begin. During ramp-up, OceanaGold will continue to with an underground drilling program. As of last August, the Martha underground project had a measured and indicated resource of 140,000 ounces of gold and an inferred resource of 339,000 ounces, which was based on only one-third of the planned drilling program, the company says.

By Allen Sykora of Kitco News; asykora@kitco.com

 

Alacer Reports Profit In 2018, Sees Higher Output In 2019

Tuesday February 5, 2019 08:25

Alacer Gold Corp. (TSX: ASR, ASX: AQG), which has an 80% interest in the Çöpler Gold Mine in Turkey, reports a profit in 2018 as output came within guidance, and the company expects even higher gold output in 2019. Full-year 2018 gold production was 170,865 ounces. Full-year earnings were listed at $15.1 million, or 5 cents per share, while “normalized attributable earnings” were put at $44.4 million, or 15 cents. “Our all-in sustaining costs per oxide ounce were $609, beating our 2018 cost guidance,” says Rod Antal, president and chief executive officer. “Most importantly, we completed construction of the sulfide plant and poured ~22,000 ounces of gold in December, which was the first full month of both autoclaves in operation. With 2019 consolidated production guidance of 320,000 to 380,000 ounces of gold at all-in sustaining costs of $675 to $725 an ounce, we become a significant free cash flow generating intermediate gold producer.”

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.

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