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Sibanye has reported that the Burnstone project progressed well during the six months to December 31, 2023, and the project is now 65% complete. Owing to the redesign requirements on the waste...
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Wits Gold, which explores for the metal in South Africa, made an offer for Great Basin Gold's Burnstone mine to give the company its first bullion-producing asset.
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Wits Gold had committed to provide a R950m loan for working capital and capital expenditure at Burnstone. Wits Gold's other projects, such as De Bron-Merriespruit (DBM), were also looking difficult to fund. DBM had a peak funding requirement of about R2.37bn. As of December 31, 2012, Wits Gold had cash and cash equivalents of R15m.
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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. JSE- and ADR-listed Sibanye-Stillwater acquired the Burnstone project from Wits Gold for R1 in 2015.
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It was more Wits Gold…when you did the Burnstone Deal from Great Basin God. You were quoted as saying that you needed to get Burnstone right. Great Basic couldn't do it. We would love an update on that, but while you're busy, sorting that problem out along comes the Neil Froneman who says 'come and be part of Sibanye'.
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Many believe that the Witwatersrand Basin is reaching the end of its productive life, and that it won't be able to continue delivering the gold on which the foundations of South Africa's most prosperous city, Johannesburg, and the country's economy were built. The mainstream narrative is that gold mining in South Africa is a suns…
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In 1931, using a magnetometer, Dr Rudolf Krahman discovered the vast gold deposits of the West Wits Line near Carletonville. JSE: SSW R17.66 -0.67%; NYSE: SBSW ... Burnstone is a developmental stage gold mine and processing operation located in the South Rand Goldfield of the Witwatersrand Basin next to the town of Balfour in the Mpumalanga ...
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Burnstone was initially developed by Great Basin Gold, a Canadian firm, before it was abandoned. The project was bought by Sibanye-Stillwater which shut the mine again just as the platinum group metal markets turned downwards. At the time of its last shut, Sibanye-Stillwater was facing residual capital expenditure of about R2.4bn.
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South African gold miner Great Basin Gold is making steady progress on the delivery of capital projects at its gold-mining project, Burnstone, in Gold Futures $ 2914.1 / ozt -0.17% Micro Gold ...
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All Gold PGMs Markets Energy Ferrous Metals Diamonds Base Metals Battery Minerals. Pan African transformed this Jo'burg eyesore into a new mine. Canada extends review of Paladin deal to end-December. Green shoots for South Africa's coal export line? Bushveld's days numbered as starts business rescue talks.
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Wits Gold in July 2014. Burnstone, which was formerly operated as a mine until placed on care and maintenance in mid-2012, comprises two established shaft complexes, a 125,000 ton per month carbon-in-leach gold processing plant, tailings storage facility and related surface infrastructure and mining rights. Prior to 2012, Burnstone had
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Witwatersrand Consolidated Gold Resources (Wits Gold) on Friday said that it had offered to buy embattled Great Basin Gold's (GBG's) suspended Burnstone gold operation, in Mpumalanga. The TSX ...
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The 40-level workshops have shown substantial progress following delays experienced with support work. Project capital spent at Burnstone in 2023 was R1.5-billion in line with guidance, with R698 ...
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Mining approximately 30% of the total resource 15 Tonnes Grade g/t Content kg Content Moz Remarks Total Burnstone resource 54,100,000 5.10 275,910 8.890 Burnstone study resource 33,298,925 5.46 181,812 5.662 3km radius from shaft Stopes scheduled in situ 10,774,276 6.10 65,711 2.110 High-grade areas targeted Stopes final 12,477,437 5.27 65,711 ...
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An option on the mine was acquired by Wits Gold which in turn was acquired by Sibanye-Stillwater. A feasibility study on the gold project was completed in 2015, and project development started in 2016. ... Burnstone gold mine project. XLS 124.50 KB. Burnstone gold mine project. PDF 860.73 KB. Other reports you may be interested in. Asset Report ...
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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 oz. reserve, is 90% complete following $800 million in investments, according to the statement.
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Following the R407-million takeover of Witwatersrand Consolidated Gold Resources (Wits Gold) in April, Sibanye planned to leverage its extensive historical knowledge to build a "fit-for-purpose ...
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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 business development ...
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Wits Gold would pay $7.25-million in cash towards GBG's South African subsidiary Southgold Exploration's debt, which was restructured and cut by 55% to $177.35-million.
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Wits Gold gets approval to buy Burnstone. 11th July 2013 By: Natasha Odendaal - Creamer Media Senior Deputy Editor
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Earlier today, Wits Gold said that following an intensive due diligence and the submission of its business plan, it had been selected as the sole preferred bidder for Burnstone mine which is owned by Great Basin Gold subsidiary Southgold Exploration, but falls under the custodianship of liquidators in terms of business rescue proceedings.
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JSE-listed Witwatersrand Consolidated Gold Resources (Wits Gold) on Thursday said it had received approval to buy the struggling Burnstone mine, in Mpumalanga. The company said in a statement that ...
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JSE-listed gold explorer turning producer Wits Gold is confident of being able to begin gold production at the Burnstone mine in the next 18 months. The company is also confident of attracting a ...
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Burnstone is a project in execution. Sibanye-Stillwater purchased Witwatersrand Consolidated Gold Resources Ltd (Wits Gold) and, additionally, acquired Southgold Exploration (Pty) Ltd, …
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Consolidated Gold Resources Limited (Wits Gold) • Wits Gold had previously secured an option to acquire Southgold Exploration (Pty) Ltd (Southgold), which owns the Burnstone operation (Burnstone), through a ... Burnstone mine - overview • Designed as a shallow (~250m to ~1,000m), semi-mechanised mine • Mine construction started in 2006
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Sibanye-Stillwater is open to selling or developing its Burnstone gold project, facing challenges with lower revenues. The mine holds 2.6M oz in reserves and w.
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Wits Gold said in September 2013 that it was confident of its ability to restart gold production at Southgold's suspended Burnstone mine, in Mpumalanga, in the next 18 months.
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[img:BurnS_0.jpg| ]Johannesburg, South Africa --- 08 July 2013 - Witwatersrand Consolidated Gold Resources Limited (Wits Gold) has announced that it is the sole preferred bidder for the Burnstone gold mining operation near Balfour, in the Mpumalanga province of South AfricaBurnstone is wholly owned by Southgold Exploration (Pty) Limited, a subsidiary of Great …
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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 ...
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