Saracen Mineral Holdings has contracted GR Engineering Services to complete additional works at the Thunderbox and Carosue Dam projects in Western Australia, worth a combined $29 million.
Australian gold production fell by 10 tonnes, or 12 per cent from the previous quarter during the March period, according to gold consultants Surbiton Associates.
Australian gold prices have climbed back up to three-year highs at the end of this week, hitting $2673.56, according to data from ABC Bullion.
The gold industry is faring well during the coronavirus pandemic that is affecting so many other industries around the world, according to Resources Monitor’s latest report.
Saracen Mineral Holdings has capped off the March 2020 quarter with record quarterly gold production of 158,132 ounces at an all-in sustaining cost of $1133 per ounce.
Saracen Mineral Holdings is on track to produce a record 150,000 to 155,000 ounces of gold across its operations during the March quarter, seeing minimal impact from the coronavirus pandemic.
Saracen Mineral Holdings has awarded SRG Global a drill and blast contract worth $70 million at the Thunderbox and Carosue Dam operations.
Saracen Mineral Holdings is on course to meet its 2020 financial year production guidance of more than 500,000 ounces of gold.
Northern Star Resources has finished off the December quarter as a one million ounce per year gold producer with four Tier 1 assets.
Saracen Mineral Holdings has “entered the next league of Australian gold miners” after a record December 2019 quarter, according to company managing director Raleigh Finlayson.
Northern Star Resources is set to make the Kalgoorlie Super Pit an Australian-owned gold mine by acquiring Newmont Goldcorp’s stake in the historic Western Australian site for US$800 million ($1.17 billion).
Newmont Goldcorp is set to contribute 1.5 million ounces of production from its Australian operations next year.
Saracen Mineral Holdings has successfully completed its acquisition of 50 per cent interest in the Kalgoorlie Super Pit from Barrick Gold Corporation.
Saracen Mineral Holdings is set to become the half owner of the Super Pit gold mine in Kalgoorlie by the end of the week.
Stay on top of the most popular stories on Australian Mining over the past week, including the latest major iron ore contract awarded by Rio Tinto in the Pilbara.
Saracen Mineral Holdings has enjoyed a record-breaking quarter with gold production and costs running ahead of guidance.
Saracen Mineral Holdings is set to acquire the Sinclair nickel project from Talisman Mining for $10 million, strengthening the company’s holdings in Western Australia.
The Australian dollar gold price has moved above $2300 an ounce for the first time in history as fears surrounding the United States–China trade wars have again impacted global economic markets.
St Barbara managing director and CEO Bob Vassie says that the company’s upcoming takeover of Canadian company Atlantic Gold “ticks all the boxes” for St Barbara’s strategy.
Saracen Mineral Holdings has significantly increased its planned exploration and drilling expenditure as part of an ongoing push towards becoming a 400,000 ounce a year gold producer.