Latest news with #Windfall
Malaysian Reserve
3 days ago
- Business
- Malaysian Reserve
Windfall Mining Group inc. reaches a new milestone in its development in Quebec
MONTREAL, July 27, 2025 /CNW/ – Windfall Mining Group inc. (WMG), Canadian subsidiary of the global gold group Gold Fields Limited, announces today a series of key developments to support the advancement of the Windfall project and to strengthen its sustainable presence in Quebec. Set to become Canada's next major mining complex, the Windfall Project is located in the Eeyou Istchee James Bay territory in Québec, 115 km east of Lebel-sur-Quévillon. Second Series of Responses to COMEX and Update of Key Studies for the Advancement of the Windfall ProjectWMG confirms the continuation of the environmental assessment process through the submission of the second series of responses to COMEX questions. This revision reflects the company's ESG performance standards, adapted to Canadian and Quebec regulatory requirements. 'WMG remains committed to developing a low-carbon operation, including through its partnership with the Cree First Nation, positioning Windfall among the lowest carbon-intensity gold projects globally', said Mike Fraser, CEO of Gold Fields. 'The update of our environmental impact assessment study with the submission of this second series of responses to COMEX demonstrates our commitment to advancing the Windfall project in accordance with the best practice environmental, social, and regulatory standards.' added Andréanne Boisvert, Vice President, Environment and Community Relations. Visual Identity: The Lynx Gives Way to the LionFollowing the full acquisition of the Windfall project in 2024, WMG is adopting the corporate group's visual identity. The company's transitional logo is being replaced by that of Gold Fields, marking the integration of the project into the global Gold Fields family, which operates across four continents. 'This change reflects Gold Fields' long-term commitment to Canada and its intention to establish a sustainable strategic presence in Québec—one of the world's most respected mining jurisdictions—and across Canada', concluded Fraser. Strategic Appointment to Propel the Windfall ProjectGMW is also proud to announce the appointment of Sylvain Lessard as General Manager. A mining engineer by training, Mr. Lessard brings over 30 years of experience managing complex projects in Quebec, in Canada and internationally, particularly in the underground mining sector. Having assumed the role on June 16, 2025, Mr. Lessard brings a wealth of experience to lead operations at the site. About Gold FieldsGold Fields is a globally diversified gold producer with nine operating mines in Australia, Chile, Ghana, South Africa and Peru, and one project in Canada. Its Australian assets span the world-renowned Goldfields mining region and employ more than 3,700 people in Western Australia. Our purpose is to create enduring value beyond mining by delivering positive and sustainable value for our employees, communities, and business partners. Our shares are listed on the Johannesburg Stock Exchange (JSE) and our American depositary shares trade on the New York Exchange (NYSE). Forward-looking statementThis announcement contains forward-looking statements. All statements other than statements of historical fact included in this announcement may be forward-looking statements. Forward-looking statements may be identified by the use of words such as 'aim', 'anticipate', 'will', 'would', 'expect', 'may', 'could', 'believe', 'target', 'estimate', 'project' and words of similar meaning. These forward-looking statements, including among others, those relating to Gold Fields' future business strategy, development activities (including the permitting, development and operations of the Windfall project) and other initiatives, business prospects, financial positions, production and operational guidance are necessary estimates reflecting the best judgement of the senior management of Gold Fields and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and should be considered in light of various important factors, including those set forth 3 in Gold Fields' Integrated Annual Report 2023 filed with the Johannesburg Stock Exchange and annual report on Form 20-F filed with the United States Securities and Exchange Commission (SEC) on 28 March 2024 (SEC File no. 001-31318). Readers are cautioned not to place undue reliance on such statements. These forward-looking statements speak only as of the date they are made. Gold Fields undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this announcement or to reflect the occurrence of unanticipated events. These forward-looking statements have not been reviewed or reported on by the Company's external auditors
Cision Canada
3 days ago
- Business
- Cision Canada
Windfall Mining Group inc. reaches a new milestone in its development in Quebec Français
MONTREAL, July 27, 2025 /CNW/ - Windfall Mining Group inc. (WMG), Canadian subsidiary of the global gold group Gold Fields Limited, announces today a series of key developments to support the advancement of the Windfall project and to strengthen its sustainable presence in Quebec. Set to become Canada's next major mining complex, the Windfall Project is located in the Eeyou Istchee James Bay territory in Québec, 115 km east of Lebel-sur-Quévillon. Second Series of Responses to COMEX and Update of Key Studies for the Advancement of the Windfall Project WMG confirms the continuation of the environmental assessment process through the submission of the second series of responses to COMEX questions. This revision reflects the company's ESG performance standards, adapted to Canadian and Quebec regulatory requirements. "WMG remains committed to developing a low-carbon operation, including through its partnership with the Cree First Nation, positioning Windfall among the lowest carbon-intensity gold projects globally", said Mike Fraser, CEO of Gold Fields. "The update of our environmental impact assessment study with the submission of this second series of responses to COMEX demonstrates our commitment to advancing the Windfall project in accordance with the best practice environmental, social, and regulatory standards." added Andréanne Boisvert, Vice President, Environment and Community Relations. Visual Identity: The Lynx Gives Way to the Lion Following the full acquisition of the Windfall project in 2024, WMG is adopting the corporate group's visual identity. The company's transitional logo is being replaced by that of Gold Fields, marking the integration of the project into the global Gold Fields family, which operates across four continents. "This change reflects Gold Fields' long-term commitment to Canada and its intention to establish a sustainable strategic presence in Québec—one of the world's most respected mining jurisdictions—and across Canada", concluded Fraser. Strategic Appointment to Propel the Windfall Project GMW is also proud to announce the appointment of Sylvain Lessard as General Manager. A mining engineer by training, Mr. Lessard brings over 30 years of experience managing complex projects in Quebec, in Canada and internationally, particularly in the underground mining sector. Having assumed the role on June 16, 2025, Mr. Lessard brings a wealth of experience to lead operations at the site. About Gold Fields Gold Fields is a globally diversified gold producer with nine operating mines in Australia, Chile, Ghana, South Africa and Peru, and one project in Canada. Its Australian assets span the world-renowned Goldfields mining region and employ more than 3,700 people in Western Australia. Our purpose is to create enduring value beyond mining by delivering positive and sustainable value for our employees, communities, and business partners. Our shares are listed on the Johannesburg Stock Exchange (JSE) and our American depositary shares trade on the New York Exchange (NYSE). Forward-looking statement This announcement contains forward-looking statements. All statements other than statements of historical fact included in this announcement may be forward-looking statements. Forward-looking statements may be identified by the use of words such as "aim", "anticipate", "will", "would", "expect", "may", "could", "believe", "target", "estimate", "project" and words of similar meaning. These forward-looking statements, including among others, those relating to Gold Fields' future business strategy, development activities (including the permitting, development and operations of the Windfall project) and other initiatives, business prospects, financial positions, production and operational guidance are necessary estimates reflecting the best judgement of the senior management of Gold Fields and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and should be considered in light of various important factors, including those set forth 3 in Gold Fields' Integrated Annual Report 2023 filed with the Johannesburg Stock Exchange and annual report on Form 20-F filed with the United States Securities and Exchange Commission (SEC) on 28 March 2024 (SEC File no. 001-31318). Readers are cautioned not to place undue reliance on such statements. These forward-looking statements speak only as of the date they are made. Gold Fields undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this announcement or to reflect the occurrence of unanticipated events. These forward-looking statements have not been reviewed or reported on by the Company's external auditors
Yahoo
23-07-2025
- Business
- Yahoo
HMY's Copper-Gold Pipeline Takes Shape: Can Execution Deliver Growth?
Harmony Gold Mining Co. Ltd. HMY is positioning itself for long-term growth through disciplined execution of two transformative development projects — the Wafi-Golpu copper-gold project in Papua New Guinea (PNG) and the Eva Copper project in Wafi-Golpu project is believed to be a game-changer for the company, with an estimated gold reserve of 13 million ounces. This Tier 1 asset, which is core to HMY's long-term strategy, is among the world's largest copper-gold block cave projects. HMY is currently in negotiations with its joint venture partner, Newmont Corporation NEM, and the PNG Government regarding the terms of a Mining Development Contract, which is required for a Special Mining Lease. The permitting of the project is on low-risk Eva Copper project in Australia offers additional upside, giving HMY a significant global copper-gold footprint. HMY acquired Eva Copper in 2022, adding a tier-one mining jurisdiction to its portfolio. The acquisition is in line with HMY's objective of transitioning into a low-cost gold and copper mining company. The feasibility study update for the project is currently underway. Eva Copper is expected to produce 55,000-60,000 tons of copper per copper-gold assets are central to HMY's strategy of diversification beyond South African gold operations. Harmony's paired focus on Wafi-Golpu and Eva Copper, if executed on schedule, uniquely positions it to deliver transformative growth. Among its peers, AngloGold Ashanti plc AU is executing a clear strategy of organic and inorganic growth. Obuasi remains a significant pillar of AngloGold Ashanti's long-term strategy. AngloGold Ashanti's focus this year is to continue the implementation of the underhand drift and fill mining method and make stoping improvements. At Siguiri, efforts are underway to improve mining volumes through ongoing improvements to fleet availability and utilization. Gold Fields Limited GFI is advancing its high-grade Windfall project in Quebec, targeting 300,000 ounces of gold annually. Gold Fields acquired 100% ownership of the Windfall project through the completion of its acquisition of Osisko Mining in October 2024. Gold Fields is focused on obtaining the required environmental approvals for full-scale construction and mining. HMY's Price Performance, Valuation & Estimates Shares of Harmony Gold have rallied 64.9% over a year against the Zacks Mining – Gold industry's rise of 33.4%, thanks to a surge in gold prices. Image Source: Zacks Investment Research From a valuation standpoint, HMY is currently trading at a forward 12-month earnings multiple of 5.26, a roughly 56.3% discount to the industry average of 12.04X. It carries a Value Score of B. Image Source: Zacks Investment Research The Zacks Consensus Estimate for HMY's fiscal 2025 earnings implies a year-over-year rise of 190.8%. The EPS estimates for fiscal 2025 have been trending higher over the past 60 days. Image Source: Zacks Investment Research HMY stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Newmont Corporation (NEM) : Free Stock Analysis Report AngloGold Ashanti PLC (AU) : Free Stock Analysis Report Gold Fields Limited (GFI) : Free Stock Analysis Report Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
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Business Standard
05-05-2025
- Business
- Business Standard
Spain may find valuable lessons from South Australia's 2016 blackout
On Sept. 28 in 2016, the state of South Australia's grid was hit with a blackout. At the time it was generating a high proportion of its power from wind turbines Bloomberg By Akshat Rathi The world is waiting to hear from the Spanish grid operator for answers on what caused a nationwide blackout last week, but that hasn't stopped speculation that a high share of solar power on the grid was somehow a culprit. On Sept. 28 in 2016, the state of South Australia's grid was hit with a blackout. At the time it was generating a high proportion of its power from wind turbines. And what happened in the years that followed is worth examining to understand how blackouts occur in an era in which renewables account for an of increasing share of the electricity mix, and how the grid continues to develop as a result. What went down on that day? The Australian Energy Regulator's report in 2018 summed it up: It was triggered by severe weather that damaged transmission and distribution assets, which was followed by reduced wind farm output and a loss of synchronism that caused the loss of the Heywood Interconnector. The subsequent imbalance in supply and demand resulted in the remaining electricity generation in SA shutting down. Most supplies were restored in 8 hours. So were renewables to blame? A wind farm contributed, but so did many other things. 'The discourse on social media and traditional media tends to hyperfocus on a single cause,' said Ketan Joshi, author of Windfall, a book that explored the mistakes and opportunities of renewables deployment in Australia. 'But no one cause was alone sufficient to have caused the blackout.' Cooler heads prevailed at the grid operator. In the short term, utilities increased the share of reserve gas power plants, improved weather warnings and synchronous condensers (a device that mimics a rotating power turbine) on the network. Over the longer term, electricity providers added tons of lithium-ion batteries onto the grid and increased the share of power generated from cheap, clean solar and wind farms. In 2017, for example, Tesla Inc.'s Elon Musk promised to build a battery for South Australia's grid in a mere 100 days. And he delivered what was then the world's largest grid-connected battery, helping to kickstart an Australian energy storage boom that BloombergNEF forecasts will see 2.5 gigawatts of new utility-scale capacity added this year. Nonetheless, Joshi said the blackout led to years of misinformation about renewables. He's documented many examples of politicians bringing up the 2016 blackout to slow down policies aimed at deploying renewables. But renewables kept advancing. 'Engineers basically dealt with the problem by looking at the evidence, but equally Australia had a democracy that could withstand the level of disinformation being spread about renewables,' said Joshi. 'The challenge in Spain's case is to ensure the attacks don't find purchase.'
Malaysian Reserve
05-05-2025
- Business
- Malaysian Reserve
Spain may find valuable lessons from South Australia's 2016 blackout
THE world is waiting to hear from the Spanish grid operator for answers on what caused a nationwide blackout last week, but that hasn't stopped speculation that a high share of solar power on the grid was somehow a culprit. For those who've worked in the energy industry in Australia, these feelings of uncertainty and blame directed to renewables sound familiar. On Sept. 28 in 2016, the state of South Australia's grid was hit with a blackout. At the time it was generating a high proportion of its power from wind turbines. And what happened in the years that followed is worth examining to understand how blackouts occur in an era in which renewables account for an of increasing share of the electricity mix, and how the grid continues to develop as a result. What went down on that day? The Australian Energy Regulator's report in 2018 summed it up: It was triggered by severe weather that damaged transmission and distribution assets, which was followed by reduced wind farm output and a loss of synchronism that caused the loss of the Heywood Interconnector. The subsequent imbalance in supply and demand resulted in the remaining electricity generation in SA shutting down. Most supplies were restored in 8 hours. So were renewables to blame? A wind farm contributed, but so did many other things. 'The discourse on social media and traditional media tends to hyperfocus on a single cause,' said Ketan Joshi, author of Windfall, a book that explored the mistakes and opportunities of renewables deployment in Australia. 'But no one cause was alone sufficient to have caused the blackout.' Cooler heads prevailed at the grid operator. In the short term, utilities increased the share of reserve gas power plants, improved weather warnings and synchronous condensers (a device that mimics a rotating power turbine) on the network. Over the longer term, electricity providers added tons of lithium-ion batteries onto the grid and increased the share of power generated from cheap, clean solar and wind farms. In 2017, for example, Tesla Inc.'s Elon Musk promised to build a battery for South Australia's grid in a mere 100 days. And he delivered what was then the world's largest grid-connected battery, helping to kickstart an Australian energy storage boom that BloombergNEF forecasts will see 2.5 gigawatts of new utility-scale capacity added this year. Nonetheless, Joshi said the blackout led to years of misinformation about renewables. He's documented many examples of politicians bringing up the 2016 blackout to slow down policies aimed at deploying renewables. But renewables kept advancing. 'Engineers basically dealt with the problem by looking at the evidence, but equally Australia had a democracy that could withstand the level of disinformation being spread about renewables,' said Joshi. 'The challenge in Spain's case is to ensure the attacks don't find purchase.' –BLOOMBERG
