GOLD BULLION rallied almost $10 per ounce on Friday from yesterday’s 4-week lows against the Dollar, but failed to recover what analysts called the “key pivot” of $1300 despite claims of safe-haven buying after Pyongyang threatened to test a nuclear bomb over the Pacific Ocean. The Yen rose faster versus the Dollar, erasing last […]
South African gold mining company Gold Fields said on Friday that KPMG remains its external auditor but it will continue to monitor future developments. “The Gold Fields board of directors has considered the matter and will be closely following future developments in this area. KPMG remain the company’s external auditors,” the company said in a […]
Finding the right mining companies to invest in is not an easy task and that’s why newsletter writer Jordan Roy-Byrne says it is important to focus attention on a few things before making your picks. Speaking with Kitco News at the Precious Metals Summit, the mining analyst and publisher of the Daily Gold newsletter said […]
GOLD PRICES are trading at its lowest level since August 28th 2017 after the Federal Open Market Committee put the option of an interest rate hike before the end of the year back on the table, writes Atsuko Whitehouse at BullionVault. Dollar Index, measuring the US currency against a basket of other currencies, surged 0.5% as […]
Canada’s Eldorado Gold’s (TSX:ELD)(NYSE:EGO), Greece’s biggest foreign investor, is temporarily postponing its decision to halt operations and investment in the country as it begins talks with the government. “We are very pleased with the constructive dialogue that is underway with the Ministry of Energy and Environment,” chief executive George Burns said in the statement. “[However] we preserve […]
Precious metals miner Hochschild Mining Plc is doubling down on efforts to find early-stage mining projects to acquire and is open to deposits that depart from its focus on silver and gold, the chief executive said on Wednesday. Speaking at the mining convention Perumin in southern Peru, Ignacio Bustamante said the company was mostly looking […]
Due to socio-economic problems such as growing unemployment and poverty rates in South Africa, there has been rise in illegal gold mining. The Daily Sun recently released videos showing a little bit of the reality for these underground miners known as ‘zama zamas,’ which in Zulu loosely translates to “those who try to get something […]
The gold price sunk below $1,300 an ounce on Wednesday after the US Federal Reserve threw its nine-year old stimulus programme into reverse and signalled that it could raise rates again before the end of the year. In another day of heavy volumes with over 32m ounces changing hands on the Comex market in New York […]
The November 1991 discovery of diamonds in the Northwest Territories by prospectors Chuck Fipke and Stu Blusson put Canada on the global diamond map. It also triggered one of the largest staking rushes in the world, as hundreds of companies hurried north to find treasure. A few years later, many had retreated to warmer climes. […]
Bureau Veritas’ State-of-the Art Mineral Testing Facility in Adelaide is supporting BHP and South Australia to achieve their Copper Growth Strategies Bureau Veritas, world leaders in testing, inspection and certification services, has been working with BHP’s Olympic Dam on their Heap Leach Project since the early development work commenced in 2012. The test programme has […]
Shares in Canada’s Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) were up more than 2.5% Wednesday after the company announced that is going ahead with the construction of a Carbon-in-Leach (“CIL”) plant at its Ity gold mine in Côte d’Ivoire. The West Africa-focused firm said the project, which requires an initial investment of $412 million, will extend the life of […]
Tanzania’s president has ordered the military to build walls around its tanzanite mines and directed the central bank to buy the precious stone to boost reserves — the latest twist in a spat with mining firms over alleged tax evasion. “All tanzanite gemstones will be controlled and will pass through one gate and he (Magufuli) ordered the […]
GOLD BARS traded in London’s wholesale bullion market halved this week’s 1.1% drop ahead of the US Federal Reserve’s September rates decision on Wednesday, rallying as the Dollar fell on the currency market. Peaking at $1315 per ounce, the price of large 400-ounce gold bars rose as the Euro hit a 1-week high of […]
University Health Network (UHN) announced today that The Peter and Melanie Munk Charitable Foundation is increasing its support to the Peter Munk Cardiac Centre (PMCC) with a transformative gift of $100 million. This gift, which will bring the Munks’ support of UHN and the PMCC to more than $175 million since 1993, will primarily be […]
Philippine lawmakers deferred Wednesday their expected appointment confirmation of the country’s environment and natural resources minister Roy Cimatu, amid pressure from pro-mining groups hurt by policies put in place by the previous secretary and which he has vowed to keep in place. Former minister Lopez had to leave the post after the same legislative panel […]
Mining reforms in Brazil are raising the cost of operating without generating increased interest in investing in the sector, an executive for world’s largest iron ore producer Vale said on Monday. Brazil President Michel Temer issued decrees in July to boost mining royalties, create a new industry regulator and streamline regulations, arguing that efficient and […]
Shares in Petra Diamonds (LON:PDL) dropped almost 6% Tuesday after the company reported fresh labour disruptions at two of its mines in South Africa, amid talks to reach a new wage agreement. Petra revealed there had been disruption at its Finsch mine and Kimberley joint venture operations since Monday night. Workers at Petra’s Finsch mine and […]
Peruvian farmer Máxima Acuña de Chaupe, a vocal opponent to Newmont Mining’s (NYSE:NEM) activity in her home country, is now suing the company in a US federal court over allegations it used violence and threats to try evicting her from her home to make way for its Conga gold and copper project. The suit filed […]
I am writing this at the behest of David Schectman for Miles Franklin readers as he wanted my opinion on cryptocurrencies. Let’s start by saying I have no doubt within only a short time, “crypto currencies” will be issued and embraced by central banks. This is not to say I am endorsing Bitcoin, Ethereum or […]
GOLD INVESTMENT prices at multi-week lows against all major currencies except the Japanese Yen on Tuesday in London, erasing the last of September’s earlier 4.0% jump versus the Dollar as global stock markets edged up to set yet another new record high. Starting 2017 at fresh all-time highs just above the spring 2015 peak, […]