Illegal Mining Targets East Africa Metals Sites: Report
A view of an East Africa Metals project area in Ethiopia. Credit: East Africa Metals. Rising gold prices have resulted in alleged illegal mining activities taking place at two East Africa Metals (TSXV: EAM) properties in Ethiopia’s Tigray region, The Globe and Mail reported. Although the company insists the projects remain non-operational and inaccessible, witnesses including […]
Morgan Stanley Faces Scrutiny from US House Committee Regarding Zijin Gold IPO in Hong Kong
Stock image. New York – Morgan Stanley’s underwriting of Zijin Gold International’s Hong Kong IPO placed it and its U.S. investors at risk of regulatory, financial and reputational harm, a U.S. House of Representatives committee told the bank on Thursday. Zijin Gold is a subsidiary of Zijin Mining Group, a global mining company based in China that is […]
Gold Prices Climb as Vote to Avert US Government Shutdown Approaches
Stock image. Gold advanced more than 1% on Wednesday ahead of a key vote that could end the US government’s longest-ever shutdown, which would offer economic clarity and set the stage for the Federal Reserve’s next move. Spot gold rose 1.3% to $4,179.12 an ounce, its highest since the week of October 20, when it […]
SSR Mining Extends Colorado Gold Mine’s Lifespan by 12 Years
A view of the Cripple Creek & Victor (CC&V) gold mine in Colorado. Credit: Newmont. SSR Mining (Nasdaq, TSX: SSRM) said a new technical study for the recently acquired Cripple Creek & Victor (CC&V) gold mine in Colorado extends the asset’s mineral reserve estimate and projected life. CC&V’s mineral reserves are now estimated at about 2.8 […]
Rising Gold Prices Mask China’s Deflationary Struggles for the Time Being
Jewelleries on display at Luk Fook Jewellery store in Hong Kong. Stock image. Gold is a traditional hedge against inflation for investors but in China surging bullion prices are having the opposite effect, providing a temporary respite from deflationary pressures. Core inflation last month saw its fastest increase in almost two years, unexpectedly helping the […]
Column: Gold Price Surge Appears Significant, Yet Ranks Third in the Past 50 Years
Stock image. Gold’s recent retreat from a record high has led to questions as to whether the precious metal has run out of steam and is due for an extended period of sideways trading, as has happened in the past. It’s certainly the case over the last 50 years that whenever gold has enjoyed a […]
I-80 Gold Resource Puts Nevada’s FAD Project Up for Sale
I-80 Gold’s Ruby Hill open pit development project is part of its Nevada-focused mid-tier strategy. Credit: I-80 Gold I-80 Gold (TSX: IAU; NYSE-A: IAUX) has released a new high-grade polymetallic resource at its FAD project in Nevada to help sell the non-core asset. The resource totals 594,000 indicated tonnes grading 4.51 grams per tonne gold, […]
Gold Prices Recover Weekly Loss as US Rate Cut Probabilities Rise
Gold prices advanced on Friday to recover from a weekly loss, as traders weigh their outlook on US monetary policy following the release of private sector jobs data. Spot gold rose almost 0.5% to $3,995 an ounce by midday, having briefly touched the $4,000 level earlier. US gold futures saw similar gains, trading at just […]
Leading Candidate in Peru Promises to Revoke Essential Mining Industry Rights
A conservative presidential hopeful in Peru is vowing a major change in policy representing the key mining industry’s biggest fear: to revoke key exploration permits for idle projects and redistribute them. The proposal is the bane of global mining corporations that operate in Peru since they increasingly battle for control of mineral-rich territory with informal […]
Gold Prices Recover as Global Equities Decline
Stock image. Gold rebounded near the $4,000-an-ounce level on Wednesday as investors sought safety in the safe-haven metal following a slump in global stocks. Spot gold rallied as much as 1.5% to $3,989.53 an ounce, having fallen almost 2% the previous session. US gold futures also gained 1% to $3,996.50 per ounce. Gold’s recovery follows […]