The South African gold miner posted a 43% drop in annual earnings, or a 4.47 billion South African rand loss (about $309 million) and saw fatalities at its operations climb to thirteen, from 5 in 2017.
Gold Mining News
Canadian-based mining company, SEMAFO Inc. announced an update on its security measures in Burkina Faso.
Gold is hitting new milestones of misery.
The turnaround in performance was mainly the product of increased output, reduced net debt and lower-than-expected restructuring costs.
The Zimbabwe National Army has been dealing for months with people working illegally at the mine site.
As U.S.-China trade tensions escalated mid-June, fast-money traders flipped to a short position in metals overall.
Things are looking better for the second half of the year and 2019, but remain challenging in many areas, with platinum and gold prices falling.”
Bullion has lost out in a paradigm shift where gold’s no longer viewed as the traditional refuge when investors are in a risk-off mood, but that won’t last.
Company has increased security.
The major gold miners’ stocks plummeted in brutal cascading selling this week as stops were run.
The Turkish central bank will allow gold for foreign exchange and location swap deals in order to provide physical gold transactions.
Physical gold demand in India regained momentum this week as jewellers stocked up after prices dipped to their lowest in over seven months.
Main mine union accepted an adjusted contractual offer, which marks the end of the negotiation process and removes the threat of a strike.
Minera Alamos files PEA for its La Fortuna gold project with after-tax IRR of 93%.
Gold Fields said this week it planned to cut 1,100 permanent jobs at the company's last South African asset, South Deep, sending its shares plummeting.
The US Bureau of Land Management has announced plans to allow increased mining on land that once belonged to two national monuments Donald Trump shrank.
Investors found no solace in traditional safe haven gold with the precious metal setting a one-and-a-half year low.
In the face of Turkey’s lira meltdown, investors have taken cover instead in the U.S. dollar.
First Turkish President Recep Tayyip Erdogan argued citizens should buy gold, then he said sell.
The new fund, which will trade under the ticker symbol AAAU, will charge a fee of 18 basis points, or 0.18 percent of the value of an investment.
Holland said the company has made every effort to avoid the drastic move, but said the choice was now between that and serious risk to the future of South Deep and its many stakeholders.
Monday’s decline in the gold stocks has moved the sector into oversold territory, another day or two of a similar decline would likely put the various breadth indicators into extremely oversold territory.
Billionaire hedge-fund manager Ray Dalio maintained his holdings in the two biggest gold-backed ETFs even as an investor exodus sent prices of the metal tumbling.
South Africa mines minister said on Tuesday he was concerned by bullion miner Gold Fields' plan to cut around 1,100 jobs without due regard to processes outlined in the Mineral and Petroleum Resources Development Act.