Congo Aims to Exploit New Gold Mines Amid Rising Prices
Barrick’s Kibali mine, Democratic Republic of Congo. Image from Rangold Resources. Democratic Republic of Congo says it loses 60 tons of gold a year to smuggling. The new mines minister wants the country to build new sites to recapture that wealth. Louis Watum, who became minister last month, previously developed Africa’s biggest gold mine at […]
Hedge Fund Waratah Acquires Gold Stocks as Rally Continues
Stock image. One of Canada’s largest hedge fund managers is piling into gold stocks in anticipation that bullion’s record-setting rally is only just beginning. Waratah Capital Advisors has invested in mid-size Canadian producers including Equinox Gold Corp. and Centerra Gold Inc. as well as exploration and development companies including Artemis Gold Inc. in its funds, […]
Kinross Divests Complete Stake in Asante Gold
Kinross Gold (TSX: K, NYSE: KGC) said on Tuesday it has sold its entire shareholding in Asante Gold (TSXV: ASE) at a discount, without providing reasons for the divestment. According to an early warning report, Kinross sold approximately 36.93 million of Asante’s shares, representing 5.2% of those outstanding, at a price of C$1.80 per share. […]
White Gold Secures $14.5 Million for Exploration Initiatives
The White Gold district in the Yukon. Credit: White Gold Corp. White Gold (TSXV: WGO) is set to raise C$20 million ($14.5 million) in a brokered private placement to fund its exploration activities in Canada’s Yukon Territory. Clarus Securities, as lead agent of the offering, will issue a combination of premium flow-through units (C$1.17 per unit), […]
Elton John’s Film Glimmers as Gold Prices Rocket
Elton John in the film Touched by Gold. Credit: World Gold Council Elton John has said goodbye to the yellow brick road – but not to the yellow metal, which is a big part of his life as the new short film “Touched by Gold” shows. Released this week by the World Gold Council, the […]
Switzerland Investigates Trader for Suspected Involvement in Sanctioned Russian Gold Transactions
Stock image. Swiss-based metal trader Open Mineral is being investigated by Switzerland’s State Secretariat for Economic Affairs (SECO) and Zug police for alleged dealings with sanctioned Russian gold, two sources with knowledge of the matter said. Sanctions on Russian gold were imposed by Switzerland in August 2022, aligning it with the European Union’s sanctions which […]
Mining Forum Americas: Gold Giants Pledge to Maintain Discipline
AngloGold Ashanti CEO Alberto Calderon said three-quarters of company output already comes from tier-one assets and the aim is 85% by the mid-2030s. Credit: Henry Lazenby Colorado Springs – A year of record bullion prices has the gold sector talking less about buying ounces in takeovers and more about finding them in their midst. At […]
Column: Commodities Might Be Entering a New Super Cycle
Commodities have had a rough decade, but a confluence of structural factors suggests that after years of underinvestment, the stage may be set for the next super cycle. Commodities super cycles are long, powerful waves driven by major thematic shifts. The 1970s super cycle saw a mix of geopolitical supply shocks and loose monetary policy. […]
Gold Dips from Record High as Dollar Strengthens Following Fed Rate Cut
Stock image. Gold slipped from a fresh record high as the dollar rebounded after the Federal Reserve delivered an expected rate cut following months of intense pressure from the White House to slash borrowing costs. In his post-meeting press conference, Fed Chair Jerome Powell pointed to growing signs of weakness in the labor market and […]
Authorities Raid Swiss Metal Trader in Investigation Tied to Russian Gold
Swiss authorities raided the local office of metals trader Open Mineral AG last Thursday as part of an investigation into potential sanctions breaches relating to its trading in Russian gold, according to people familiar with the matter. Switzerland’s State Secretariat for Economic Affairs searched the firm’s offices with local police in the canton of Zug […]