wits gold takeover of burnstone mine,wits gold itself made an offer for a gold-mining operation in july, bidding for great basin gold ltd.'s burnstone mine to obtain its first bullion-producing asset. the mine, with a 6.4 million-ounce reserve, is 90 percent complete after an $800 million investment, according to today's statement..wits gold acquires burnstone mine,wits gold ceo philip kotze praised a business plan for which we believe is realistic, deliverable, value accretive to wits gold shareholders to ensure maximum benefit. wits gold officials said 80 of the burnstone mines capital has been spent to date, creating a strong platform for a re-rating of wits golds securities as the company moves from being an explorer to a producer..
wits gold put in a bid to acquire the mine, but in the end, sibanye gold (today sibanyestillwater), on an acquisition spree under ceo neal froneman, bought the burnstone assets in july 2014, after the mine had been in care and maintenance for close to two
gold and diamond discoveries played an important part in the growth of the early republic of south africa. historically, the country was the worlds largest gold producer for many years before
the vertical shaft at burnstone mine johannesburg, south africa — 22 march 2013 witwatersrand consolidated gold resources limited (wits gold) which has a primary listing on the jse and a secondary listing on the tsx is preparing a bid for the burnstone gold mine in south africa, which is in a business-rescue programme.
gold and silver news 04 may 2021 viewpoint currently viewing global edition mining agenda from the wits gold wins burnstone gold-mine auction witwatersrand consolidated gold resources ltd
the launch of an early mining initiative is forecast to see west wits mining deliver the first gold ore in the march 2022 qtr at the qala shallows area within the witwatersrand basin project in south africa.the planned 5,000-8,500tpm ore to be produced from remnant
claire van zuylen, partner at pan-african corporate law firm, bowman gilfillan, which acted for standard chartered bank in london and credit suisse (ag), commented, the restructuring will result in some 2 000 employees, who were initially retrenched in 2012 when the burnstone mine went into care and maintenance, being re-employed at the mine when operations re-commence.
for the longer term, wits gold is building the dbm project, a proposed gold mine in the southern free state gold fields. the project, currently the subject of a detailed feasibility study, is expected to produce 200,000 ounces of gold a year, and descends to a depth of 1,000 metres in its first phase a relatively shallow depth set against other south african gold mines.
the burnstone gold project was acquired from the previous owners for r1. johannesburg (miningweekly.com) capital of r2.3-billion will be spent over 14 years on the burnstone gold project in mpumalanga, where two-million ounces of gold are to be mined over 21 years, sibanye-stillwater ceo neal froneman told the bmo conference this week.
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johannesburg - witwatersrand consolidated gold resources, which explores for the metal in south africa, said it has made an offer for great basin gold ltd.s burnstone mine, giving the company
capital of r2.3-billion will be spent over 14 years on the burnstone gold project in mpumalanga, where two-million ounces of gold are to be mined over 21 years, sibanye-stillwater
johannesburg- and new york-listed sibanye gold was reviewing options to bring the idled burnstone mine back to life from a zero base, in a r7-million deal senior vp for
-2- at the companys burnstone mining project in south africa, the latest appointment is peter ott as mining manager.peter will be responsible for managing the operations, mine engineering, surface operations and building an operating team. he has 28 years of
south africas sibanye gold has offered to buy witwatersrand consolidated (wits gold) for us$39mn, to enhance its footprint in the wits basin home / construction & mining / excavation / south africas sibanye offers to buy wits gold for us$39 million
july 5, 2013. [ miningmx.com] philip kotze said failure at burnstone the mpumalanga province mine that wrecked the fortunes of former owner great basin gold would signal the end for witwatersrand consolidated gold resources (wits gold), the firm of which he is ceo. if we fail at burnstone, then thats the end of wits gold
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west wits mining pounces on one of the latest areas prospective for pilbara conglomerate gold west wits mining parachutes into the red hot pilbara. west wits shares will be
start main page content home news latest news research news 2019 2019-04 digimine strikes gold 17 april 2019 - wits university sibanye-stillwater commits additional r30 million to further mining 4.0 research and development. mining company sibanye-stillwater has committed an additional r30 million over the next three years towards technology and innovation research at the wits mining
africa mining iq is africas largest online database for mining intelligence, granting you exclusive access to over 800 mine owners and the biggest mining companies and mining projects in africa. the database not only contains detailed information on approximately 2 000 african mining projects (more than 500 of them in sa), but includes detailed information on project engineers and suppliers
burnstone was mothballed after being declared unprofitable as a result of, according to reports, great basin gold preferring to use mechanised mining, which demands a high level of technical skills. wits gold , the johannesburg -and toronto -listed gold company, has been earmarked to be among the top bidders for burnstone .
report summary. burnstone project was previously operated by great basin gold up to 2012 when the mine was placed on care and maintenance and gbg went into liquidation. an option on the mine was acquired by wits gold who in turn was acquired by sibanye gold. feasibility study on the gold project was completed in 2015, as project development
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