Australia’s mid-tier mining companies have outperformed the remainder of the mining sector in 2020, according to statistics from Pricewaterhouse Coopers (PwC).
Northern Star Resources and Saracen Mineral Holdings’ announcement of a $16 billion merger has brought anticipation for the rise of a new top 10 global gold producer, with signs there may be more mergers and acquisitions (M&A) in the gold sector.
Saracen Mineral Holdings has achieved record production at the Carosue Dam gold mine in Western Australia, boosting the company’s position to meet the 2021 fiscal year guidance.
Super Pit joint owners Northern Star and Saracen Mineral Holdings are set to combine, having agreed to a merger-of-equals worth $16 billion.
Saracen Mineral Holdings plans to complete the construction of a 3.2 million tonne per annum processing plant at the Carosue Dam Operations in Western Australia during the 2021 financial year.
The iconic Super Pit mine in Kalgoorlie, Western Australia is set for another 15 years of production with an updated gold resource of 19 million ounces.
Saracen Mineral Holdings plans to ramp up gold production to 450,000 ounces a year starting from the 2023 financial year.
Saracen Mineral Holdings will resume processing operations at the Carosue Dam gold operations in Western Australia today, with underground and open pit activities to follow imminently.
Saracen Mineral Holdings has confirmed that a “serious incident” occurred at the Dervish gold mine in Western Australia yesterday.
Saracen Mineral Holdings has finished the 2020 financial year with record production of 520,414 ounces of gold, beating its guidance of 500,000 ounces.
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.