After just three minutes of bidding, the final price was $22,090,000, including the buyer's premium.
The Canada Pension Plan Investment Board will vote against the gold miner’s executive compensation structure next week.
Outlook is unchanged.
Barrick Gold Corp. has backtracked on its decision to suspend operations at its Lumwana open pit copper mine in Zambia after the cabinet reduced mining royalties.
Prime Minister Joomart Otorbaev resigned after hours of heated debate in parliament over the government’s performance last year.
Farmers, anti-mining activists and local leaders have opposed the project for years, claiming it will pollute key waterways for Arequipa, where the mine will be built.
The country's Superintendence for the Environment (SMA) also said the miner has not properly monitored the impact on nearby glaciers.
In general, he says investors want well-managed, low-cost producers with moderate headline risk that can run for one or two more years at lower gold prices.
When asked about how much lower commodities prices will dive this year, Davis said he thought they were close to hitting rock bottom.
The People's Bank of China may have tripled its gold stockpile since April 2009, when it last gave an official number, which Bloomberg Intelligence estimates to be 3,510 metric tons, second to United States 8,133.5 tons of gold.
Greece’s uncertain future in the eurozone, global quantitative easing, loose monetary policies and continued demand out of Asia will all provide much needed support for the gold market, but these factors might not be enough to create another bull market, said Morgan Stanley.
“We are very pleased to see the federal government’s commitments to extend the Mineral Exploration Tax Credit through March 2016 and to expand the eligibility of Canadian exploration expenses,” says David McLelland, Chair of AME BC
RBC forecast appetite for gold by central banks, mostly in emerging markets, to hit 275 tonnes this year as compared to 409 tonnes last year.
Cuba, the world’s sixth largest nickel producer and one of the top 10 nickel mining countries, also holds significant deposits of other minerals and oil, new U.S. Geological Survey report shows.
Kal Kotecha, founder and editor of Junior Gold Report, says now is the time to be buying resource stocks, especially gold equities.
The company has submitted plans to restart the mine.
Although trading within a relatively narrow trading range since last October, the PHLX Gold/Silver Sector Index (XAU) now appears to be basing out and may be in position to make a solid move higher.
The first-quarter earnings season, which kicks off for the senior gold miners later this week, is traditionally the sector’s weakest quarter of the year, and 2015 should be no different.
Marilyn Baptiste, a Tsilhqot’in First Nation councillor who was on the front lines in the fight against the Prosperity and New Prosperity mine is in San Francisco has received an international environmental award worth $175,000.
The flawless, 100-carat diamond could fetch up to $25 million when it goes under Sotheby's hammer in New York on Tuesday
The ongoing search for additional reserve ounces at Kibali will secure its future as a long-life mine and one of Africa’s largest gold producers, Randgold Resources chief executive Mark Bristow said.
The decision follows a similar move by Sasol, which repatriated Friday 340 of its employees working on projects in the Southeast Africa nation for their own safety.
Rubicon Minerals (TSX:RMX) advanced 4.5 percent on Friday after the company released an update on its Phoenix Gold Project in Red Lake, Ontario.
Hudbay Minerals (TSX, NYSX:HBM) has purchased the idled Snow Lake project in Manitoba, adding to its stable of properties in the Canadian province of Manitoba.
Director of $1bn fund discusses Denham's unique approach, the vibrant parts of the M&A market and what juniors should do to attract capital.
Three of the world's largest pension funds are voting against execs upping salaries 36% to more than $1m a month while the company stock sinks.
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