Centerra reports record quarterly earnings

Ross Beaty explains.

Part of the Indian Ocean island nation’s plan to become a financial gateway to Africa.

It means the company can now begin limited production, with increased feed to the mill expected in a couple of months.

Barrick, which has been negotiating on Acacia’s behalf for over a year, had said it would deliver a deal for Acacia’s board to vote on by the end of June, but now says talks are ongoing and it has backed away from setting a new deadline.

The US-based miner, however, cannot directly negotiate wages and other benefits with its subcontractor’s employees.

“The plant has demonstrated that it can operate at planned hourly production throughput capacity."

Deadline for fulfillment of all conditions included in agreement with the Kyrgyz government, which would end all disputes over the firm’s Kumtor gold mine, has been pushed back about a month.

Miners area are teaming up to develop one of Ghana’s newest gold mine, the Asanko Gold Mine (AGM), located in the Ashanti Region.

The firm, formerly known as Silver Standard Resources, changed its name to reflect its tilt toward gold after acquiring the Marigold mine in Nevada in 2014.