Gold Mining News

Poland makes biggest gold purchase since 1998 as prices slump

Poland is making a rare charge into gold. The country added about 9 metric tons to its bullion reserves in July and August as prices dropped.

Gold coin `Sultan' faces death penalty as Iran hunts speculators

The government embarked on a drive to root out corruption and punish speculators it blames for exacerbating the currency crisis.

Japan's Mitsui Mining expects H2 zinc output to rise 3.6 pct y/y

Mitsui Mining and Smelting Co Ltd plans to produce 114,600 tonnes of refined zinc during October-March in the 2018/19 financial year.

Barrick Executive Chairman increases shareholding in company to 5m Shares

Thornton has purchased 2,271,029 additional common shares in Barrick at an average price of $11.11 per share, nearly doubling his total shareholding.

After another quarterly loss, is worst over for commodities?

Commodities just posted the longest losing streak in more than three years.

Gold miner Avocet hints at possible break-up

Avocet Mining warned on Monday that it could be broken up as the struggling gold miner continues talks with its largest shareholder to restructure its debt.

Peru expects $58 billion in mining investments

The recently-created Directorate for Mining Promotion and Sustainability will be in charge of identifying the regions with the mining highest potential.

Baby girl survival rates in India fall when gold prices go up: study

The cost of a dowry becomes unaffordable.

SolGold loss almost doubles as its goes all in at Ecuador projects

For the 12 months to June, SolGold's pre-tax loss was A$15.3 million, compared to $8.3 million it recorded a year before.

Asia Gold-Buying picks up in China on lower prices; India discounts narrow

Physical demand saw an uptick in the world's biggest gold consumer, China, after prices fell to six-week lows this week.

Congo-owned Sokimo may hinder transfer of Kibali mine to Barrick

The state miner warned it would "assert its rights" in Barrick Gold's acquisition of Rangold's stake in the Kibali mine, but did not provide details of its plans.

Tiberius tests its metals in crypto backed by copper, gold

The Swiss asset manager and commodities trader will use blockchain technology to account for trades and aims to offer investors the option to use its coin as a digital currency.

Russia's Petropavlovsk sees net profit next year as key project boosts output

Petropavlovsk swung to a net loss of $24.8 million in the first half on rising costs and lower sales but declined to give a forecast for the full year.

Biggest Sibanye Gold unions get approval to strike over pay

The National Union of Mineworkers and Association of Mineworkers and Construction Union received strike certificates at Sibanye after negotiations.

Barrick's Bristow bet seen as boosting South America revival

Barrick’s South America team “will be focused not only on bringing to account and dealing with the challenges around Pascua-Lama and Veladero,’’ but also on expanding assets and partnerships in Peru, Bristow said.

Freeport, Rio formally yield control of giant Grasberg mine to Indonesia

Agreements give a majority stake in the giant Grasberg copper and gold mine to a local state-owned firm, becoming the country’s biggest divestment by a foreign resources company.

Congo leader vows elections to proceed on schedule in December

DRC President Joseph Kabila vowed delayed elections will take place as planned this year.

New AngloGold boss weighs asset sales to unlock value at miner

AngloGold Ashanti Ltd.’s new CEO, Kelvin Dushnisky, said his goal of unlocking value at the world’s third-largest gold producer will involve focusing on its best assets.

Gold is stuck in ‘no man's land’ before Fed chief gives outlook

Gold is stuck in no man’s land as the market counts down to the Federal Reserve’s policy outlook.

Newmont's CEO rejects talk of bids for Barrick, Randgold

Chief Executive Officer Gary Goldberg said while not interested in the entire companies, he would interested in buying Barrick’s half of their shared Kalgoorlie mine in Australia, which Newmont operates.

Blackham secures $23 million for Wiluna gold project

The deal follows the restart of open pit mining at Wiluna, which has produced more than 4.4 million ounces of gold since 1896.

Capital raising drops

Down 18% in H1.

BGC Engineering’s ADA platform brings $900m mine remediation project to life, in 3D

Federal government uses BCG’s mixed reality technology to provide community with realistic view of arsenic containment work occurring 600 metres below ground.

Anglo American becomes latest top miner to land in Ecuador

Deal with Luminex gives Anglo the right to earn a 60% ownership interest in a JV company, which indirectly holds three copper and gold concessions in Ecuador.

Great Panther acquires Brazil gold miner for $105 million

The transaction includes the acquisition of three producing mines and an advanced stage project.