Gold Mining News

The gold mine Barrick may regret selling

K92 Mining (KNT.V) is poised for production at its Papua New Guinea (PNG) gold project and lists on the TSXV tomorrow under the symbol KNT.

Centerra Gold charged $98M fine for environmental damage in Kyrgyzstan

Fresh string of penalties are one of the latest signs of renewed tensions between the Kyrgyzstan government and the Canadian miner.

Gold price rally boosts Canada’s mining sector growth

Strong performance also came on the back of strategic initiatives, such as non-core asset sales, aggressive cost control measures and a disciplined approach in reducing debt.

Venezuela fights crisis with biggest sovereign gold sale since 2007

Venezuela held the biggest gold sale by a central bank in eight years as the country’s economic crisis deepened in the first three months of 2016.

Idaho silver mine shaft sunk to final depth of 9,587 feet

Project to extend life of Hecla Mining's Lucky Friday silver mine beyond 2040.

Gold price drops to six-week low

Hedge funds scramble to dump 708 tonnes worth of longs on New York futures market as gold suffers worst trading day since March.

State of emergency in Peru over mercury poisoning from illegal gold mining

The 60-day decree affects 11 districts in the Madre de Dios region, where several studies have found high levels of the toxic element in people, rivers and fish.

Kinross Gold workers strike at Tasiast mine in Mauritania, shares plummet

Mauritanian workers complain that there is a major gap between their salaries and Canadian expats working for Kinross.

Long-lost ship found in Namibian desert — with gold aboard

Diamond miners have found the remains of a Portuguese ship that disappeared on its way to India laden with gold and other treasure, almost 500 years ago.

Pit collapse at jade mine in Myanmar leaves at least 13 dead

It is the latest in a series of deadly accidents in recent months to hit Hpakant, where as much as 90% of the world's jade is mined, mostly illegally.

Centerra Gold fined for environmental damage in Kyrgyzstan

Ruling is one of the latest signs of renewed tensions between the Kyrgyzstan government and the miner, which have been locked in a bitter dispute over profit sharing for years.

Gold hits lowest price since late April on fears of rate hike

US Fed officials signalled a rate rise could come as early as June.

Gold: the next top performing asset to 2020 and beyond

This is the best time to invest in gold for the long-term investor.

This could send gold tumbling below $1,000 again, Citi says

Citi sees little stopping gold from falling below $1,000 an ounce if dollar index clears 100.

Two overlooked streaming stocks with huge upside potential

In the precious metals sector, this type of company provides financing for mining companies in the form of an upfront cash payment in exchange for a percentage of production or revenues from the mine.

No waste, no fuss for the mining industry

Mining companies are required, by law, to have abatement plans in place to deal with all kinds of waste.

Indigenous Mexicans challenge constitutionality of mining act

The Me'phaa Indigenous communities argue the mining act violates international treaties that Mexico had signed and ratified.

Risks mount for gold producers over deep capex cuts

New report says cutbacks in capital spending are shrinking production profiles faster than expected and eating into earnings.

Harvard, IMF economist: Emerging markets must go for gold

If all central banks were to hold at least 5% of forex reserves in gold (versus 60%+ in rich economies) it would require the purchase of almost 8,000 tonnes

Sprott monthly market update with Rick Rule: Cobalt bubble coming; Kaminak & The Yukon; streaming & royalties

In the current bull market, with more equity available, streaming and royalty companies continue to provide much needed revenue in the base metals and industrial materials sectors.

Caterpillar retail sales drop 12% in first three months of the year

Results mark the 41 straight month of retail sales declines.

South African miners to pay 67% of acid drainage clean-up costs

The government will pay for two-thirds of the cost by collecting money from mining companies through a new environmental levy.

Silver Standard acquires Claude Resources in $337 million deal

With the deal, Saskatchewan loses its only home-grown gold miner.

Australia's miners 'missing in action' in Colombia

Australia’s resource houses are “missing in action” in Latin America’s third largest economic powerhouse – Colombia – and should move post haste to rapidly lift their engagement with the mineral rich province.

South Africa chamber of mines says half of members in the red

Group represents the country's largest mining companies, including AngloGold Ashanti, Sibanye Gold and Impala Platinum Holdings.