Gold Fields is steadfast in fully powering is global mines with renewable energy by 2050, as Australian politicians continue to debate on the nation's looming net zero target.
A bonanza gold price has not dampened the appetite for discussion around mergers and acquisitions in the current market, with some more willing to comment than others.
The moment of truth is close for Great Southern Mining and Gold Fields Ltd, with the JV partners getting near to drilling a 2.4-km-wide porphyry anomaly in Queensland, unearthed by an IP geophysical survey that appears to scream “drill here”. The duo believe they may be onto a “chargeability anomaly” laden with sulphides housing a significant gold-copper deposit and will need the rods to start turning to prove up that theory.
The South Africa-based head of Gold Fields says the company has always had its eye on the 50 per cent stake in the Gruyere goldmine it will acquire in its move for Gold Road Resources.
The at-times tense Gruyere goldmine joint venture is likely to be consolidated into one company, after Gold Road Resources endorsed a $3.7 billion takeover offer from Gold Fields.
Gold Road Resources has entered into a trading halt pending a potential change of control transaction, less than a month after shooting down a takeover bid by JV partner Gold Fields.
Gold Road Resources has put the onus back on its Gruyere joint venture partner Gold Fields to re-engage in merger and acquisition talk, following a rejected move last month.
Gold Road says results from an underground scoping study prove Gruyere could transform into a multi-decade mine, as it defends an “aggressive” takeover attempt from its JV partner.
Stocks in Western Australian gold producers are rallying as the price for the precious metal holds strong above $US3,000 per ounce amid a flurry of M&A activity.
Aggressive and hostile is how the chief executive of Gold Road Resources has described the $3.3 billion bid lobbed by its Gruyere joint venture partner Gold Fields.
Gold Fields boss Mike Fraser is disappointed the board of Gold Road Resources has poured cold water over his $3.3 billion offer for the Gruyere mine joint venture partner.
Kewdale-based Pacific Energy has struck a deal to build its biggest solar farm, a 35-megawatt facility to be part of the $296 million renewables hub at Gold Fields' St Ives goldmine.
In this week's edition of Bulls N' Bears Big Hits, we examine some notable drill intercepts revealed on the ASX, including Barton Gold's 7m at 9.63g/t gold from 67m at its Tarcoola project in South Australia. We also take a look at other interesting drill hits reported from American Rare Earths' Cowboy State Mine project in the US and Lunnon Metals' Kambalda play in WA.
This week's Bulls N' Bears Runner of the Week is … BPM Minerals. The exploration company hit high-grade gold at its Claw project in Western Australia and its share price surged on massive volume. Octava Minerals' stock also leapt on an antimony discovery from historical drill results at its Yallalong project, while other movers-and-shakers this week were Mithril Silver and Gold and Metal Hawk.
De Grey Mining's push to develop its Hemi gold project has continued, after receiving provision for a $150 million loan from the Northern Australia Infrastructure Facility.
GOLD WRAP: Ramelius Resources has increased its profit 250 per cent year-on-year, bringing in almost $220 million last financial year as it rode a wave of record gold prices and low costs.
Pilbara gold developer De Grey has refused to comment around speculation that it could be the target of rival interest, saying it is focused on developing its Hemi project.
Australian gold production fell nine per cent in The March quarter, weighed down by the impacts of severe storms which hampered output in Western Australia and other gold mining regions.
A South Australian mining tech firm revolutionising the centuries-old method of assaying gold is working to bed down its foothold in the global gold industry.
Our weekly appointments wrap includes Luke Mortimer, Luke Reinehr, Paul Hughes, Clinton Booth, Alex Hewlett, Ajanth Saverimutto, Samuel Ekins, Bill Parker, Ashleigh Shelton and Cat Sulicich.
Kalgoorlie Gold Mining has launched an earlier-than-expected RC drill-testing program at its Pinjin project in Western Australia's Laverton Tectonic Zone in a move designed to ramp up its search for shallow, high-grade gold. Pouncing on the chance to get a drill rig this week, the company's program at its Providence deposit has been crafted to follow up last month's gold drill hits.
A toolkit to support the mining industry in addressing workplace sexual harassment has been released by the state government ahead of next year's Respect in Mining program rollout.
Gold Fields joins the growing ranks of big corporates coming forward with workplace culture reports, the latest revealing half of the gold miner's staff have experienced bullying.
WA's resources sector has been put on notice mandates will be on the cards should the industry fail to crack down on workplace behaviour through guidelines and best practice measures introduced in the wake of a damning FIFO sexual harassment probe.
Auric Mining has the first gold pour from its Jeffreys Find gold project near Norseman in Western Australia at its fingertips, with management confirming it had started milling its first batch of ore. The company's first 30,000 tonnes of ore will be processed at the Greenfields Mill in Coolgardie by end of this month, with another 100,000 tonnes waiting at the mine ready for trucking.
Mining and civil services firm MACA has secured a $850 million contract extension for open pit mining activities at the Gruyere gold mine in the Goldfields.
