Europe Top Stories

China’s gold imports from Hong Kong declined by almost half in November

Imports to the mainland from Hong Kong dropped by 42%…

Indians importing more gold jewellery despite higher duty

Traders are choosing to import gold jewellery than bullion bars…

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Silvercorp up 4 per cent after positive preliminary assessment

Silvercorp announced on Thursday that it received a positive preliminary assessment for its Silvertip silver-lead-zinc project in northern British Columbia. Silvercorp's stock was up 4% on the TSX on Friday. The report prepared by Golder Associates favoured a small mine and mill operating seasonally at 500 tonne per day or 72,000 tonne per year. "The initial capital cost of the project is estimated to be $US49 million with sustaining capital costs over the remaining mine life (21 years) estimated at $US54.2 million. The payback period is estimated at 4 years for the base case and 2 years for the upside case after reaching commercial production."

Payout to Flathead miners is unfair says Association for Mineral Exploration British Columbia

The Association for Mineral Exploration British Columbia said on Wednesday that the agreement to compensate the miners for development work in the Flathead River basin are too low. "AME BC remains appalled by the lack of due process in reaching a timely and fair compensation agreement for the taking of mineral titles in the Flathead", stated Gavin C. Dirom, President & CEO of AME BC in a press release.

Net income rises 57 percent for Barrick Gold

Barrick Gold reported on Thursday that net income in the fourth quarter was up 57% to US$947 million or 95 cents a share, a record result for the world's-largest gold miner. In the same quarter in 2009, Barrick reported US$604 million net income or 61 cents a share. The company produced 1.7 million ounces of gold at a total cash cost of $486 per ounce. Gold production in 2011 is expected to be similar to 2010.