JOHANNESBURG Reuters - South African miner Gold Fields reported a four-fold jump in half-year earnings on Thursday, benefiting from a surge in the price of the precious metal and lower-than-expected COVID-19 impact on its output.
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The East Rand Proprietary Mine is near Benoni, South Africa. The East Rand Proprietary Mine is a underground mining operation. Initial production took place in 1982 and overall output was considered to be small size. Mine operations consist of underground workings.
Record gold prices and a weaker rand have given the South African gold industry, which has produced a third of the bullion mined in history, a lifeline after the disruption caused by the COVID-19 pandemic.
A bittersweet respite for gold companies has been the rise in this safe haven metal to record levels, said Chief Executive Officer Nick Holland.
The company produced 1.087 million ounces of gold during the period, marginally up from 1.083 million ounces a year ago, despite lockdowns and infection control measures.
Output from Gruyere in Australia and an increase in production days offset the impact of COVID-19 stoppages at South Deep in South Africa and the Cerro Corona mine in Peru, the company said.
Gold Fields estimated it lost output of 42,000 ounces due to COVID-19-related stoppages.
The company, which also has operations in Ghana and the Salares Norte project in Chile, lowered its 2020 gold production forecast to between 2.200 million ounces and 2.250 million ounces, from 2.275 million ounces and 2.315 million ounces.
South Deep Gold Mine is the second largest Gold mine in the world. This mine is located in Witwatersrand Basin 45 kilometers south west of Johannesburg. The mine has around 39.1Moz of this precious mineral reserves and is also the seventh deepest mine in the world with the mining depth being around 2995m below the surface.
JOHANNESBURG Reuters - South African gold miners are looking to cut debt and boost dividends as bullion hits record highs, with analysts and fund managers predicting a sectoral growth spurt over the next two years amid rising investor interest.
Shunned by investors due to mines that are old, deep, and difficult to extract, the countryrsquos gold miners have traded at a discount to their global peers for years.
Higher prices, as spot gold XAU roared past 2,000 an ounce for the first time, coupled with a weaker rand currency, comes as a lifeline.
Interviews with companies executives, analysts and fund managers show that higher gold prices could see some local miners bring their net debt to zero and pay healthy dividends over the next 18 to 24 months.
LdquoGold mining companies will spew a lot of cash in the next 12 months,rdquo said Franco Lorenzani, an independent mining analyst.
Benoni Gold Mining Co Ltd. Benoni Gold Mining Co Ltd Address Cnr. Snake amp Pioneer Dve Gauteng 1501 South Africa City of BenoniPost Office box 25871 East Rand Boksburg 1462 Phone number 011 422 1014 011 422 1015 Categories Stone. get price.
The Town of Springs, East of Johannesburg, is on the East Rand, or what is now known as the Metropolitan area of Ekurhuleni, in the Gauteng Province.It was founded as a coal and gold mining town in 1904, but its History can be traced back to the second half of the 19th Century.
Higher prices have also made more marginal ounces profitable for Sibanye, spokesman James Wellsted told Reuters, adding the company was looking at other ways to benefit from favourable market conditions.
Pan African Resources PAFR.L is hoping to be net debt free by June 2021 and plans to increase its dividend payout to 5 from 1 last year, its head of investor relations Hethen Hira said. Its net debt dropped 49 to 62.5 million at end December.
South Deep Gold Mine. Technical Short Form Report. South Deep Gold Mine is an intermediate to deep level gold mine comprising two shaft systems that mine various auriferous conglomerates from open ground and pillars that occur at depths between 1,575 m and 3,500 m below surface.
Apr 08, 2014nbsp018332Anglo Gold Ashanti from South AfricaVan Wyk J J and R Munnik 1998 The dewatering of the Far East Rand mining basin a critical evaluation of the governments approach towards solving the associated environmental problems. Downloaded from -.
Aug 26, 2020nbsp018332Heightened revenue numbers easily rubbed out the effects of the Covid-19 related hard lockdown on DRDGOLDs operations through March and April. Total revenue was 52 higher year-on-year equal to an increase of some R1.422bn and made up for the 33 decline in gold sold from Ergo, DRDGOLDs east rand operations.
Nov 19, 2008nbsp018332Underground operations of East Rand Proprietary Mines Limited ERPM to be placed on care and maintenance section 189a consultation process to begin. 19 November 2008. Johannesburg, South Africa, 19 November, 2008.
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Underground operations of East Rand Proprietary Mines Limited ERPM to be placed on care and maintenance section 189a consultation process to begin. 19 November 2008. Johannesburg, South Africa, 19 November, 2008. DRDGOLD Limited JSE DRD NASDAQ DROO announced today that it has advised unions of its intention to place on care and.
Simmer amp Jack Mine, Germiston, Ekurhuleni District East Rand, Gauteng, South Africa Gold mine located next to City Deep Mine. Simmer amp Jack mines limited has since disposed of this mine.
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