The yellow metal was on the brink of five-year lows on Tuesday, with further losses expected in the coming months.
AngloGold Ashanti, the world’s third-largest gold producer, climbed its most in seven months after selling its Cripple Creek & Victor mine to Newmont Mining.
The deal also includes a $5 million contingent payment and a 1% royalty on a recent discovery north of Waihi’s current operations.
The sale would be one of the largest of a U.S. gold mine since the price of the precious metal began falling in 2013.
Newmont Mining (NYSE:NEM) has sold its only mine in New Zealand, the Waihi gold mine, to OceanaGold (TSX, ASX:OGC), the companies announced last Thursday.
Pick one: long gold or short gold?
Newmont, Kinross, Goldcorp and Iamgold among the companies said to be interested in all of part of Cripple Creek & Victor mine.
Denver-based firm is going ahead with building the first phase of its Long Canyon gold mine expected to produce 100,000oz–150,000oz a year over 8 years.
New human rights tool will shed light on the events leading to the paralysis of Peruvian farmer during repression of 2011 protest.
Gold Canyon’s (TSX.V: GCU) Ontario, Canada Springpole project may be the next shiny set of shoes about to be scooped up.
What? No writedowns and $1.5 billion operating cashflow?
The deals that were and those that failed. Here is MINING.com’s shortlist.
The U.S. largest miner by market value and revenue is also dealing with a strike threat at its Indonesia's Grasberg copper and gold mine, which recently resumed operations.
The future of the proposed $5 billion Conga copper and gold project in Peru remains in limbo as its main opponent was recently re-elected governor of the region where the project is situated.
Jailed Gregorio Santos is set to win the re-election in the country’s gold-rich Cajamarca region, casting fresh doubts on the future of the long-delayed copper and gold project.
Operations, however, won’t resume until at least Oct. 7.
Protesters are demanding management to review safety conditions following a fatal accident on Sept. 27.
30,000 tonnes of copper concentrate were sent out Monday.
The announcement marks the end of a long-dragged dispute between the Colorado-based miner and Southeast Asian nation.
Both sides are closer than ever to ending an eight-month tax dispute over exports of the industrial metal's concentrates.
Operations at the miner's Batu Hijau copper and gold mine to resume soon.
Gold assets among favourites.
The Peruvian firm will develop the deposit as an underground mine, instead of as an open-pit project.
Company argues a royalty hike would jeopardize the profitability of Australia's two largest gold mines.
Newmont CEO Gary Goldberg says interested in restarting merger talks that collapsed in April.
The deposit in the south of Guinea boasts 935 million tonnes of 63.5% direct shipping ore.
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