Gold Prices Approach $5,000 as US and China Markets Remain Closed
Stock image. Precious metals drifted lower in thin trading, with many Asian traders offline for the Lunar New Year break, and the US also closed. Gold fell 0.9%, holding near $5,000 an ounce. Bullion gained 2.4% Friday after a modest rise in the US consumer price index for January allayed concerns about a bigger jump. […]
Hecla Almost Doubles Its Exploration Budget
Hecla Mining Company (NYSE: HL), the largest silver producer in the US and Canada, plans to almost double its investments from last year on exploration and pre-development activities. In a press release issued on Friday, the Idaho-based miner said it will spend $55 million on its projects in Nevada and producing assets including Greens Creek (Alaska), […]
Gold Sells at Discounts in India for the First Time in Almost a Month
Gold started trading at discounts in India this week for the first time in nearly a month as volatile prices deterred buying, while demand was robust in China ahead of the Lunar New Year holiday. Indian bullion dealers this week offered a discount of up to $12 per ounce over official domestic gold prices – […]
World’s Second-Largest Gold Producer Open to M&A Opportunities, Says CEO
Agnico CEO Ammar Al-Joundi. Credit: Agnico Eagle Mines Ltd. Agnico Eagle Mines Ltd. chief executive officer Ammar Al-Joundi said the gold producer is “very well-positioned” to pursue acquisitions should opportunities emerge, signaling a renewed openness to deal-making after years focused on growing output from existing mines. “We are willing to move — and we have […]
Goldman Anticipates Surge in South Africa Deals Driven by Commodity Markets
Gold mine in South Africa. (Stock image) Goldman Sachs Group Inc. expects a busy year of deals for South Africa as the continent’s largest economy starts to benefit from structural reforms and rides a commodities-boom wave. “We expect activity across the board and our pipeline has broadened across sectors,” said Simon Denny, chief executive officer […]
Ascot Unveils New Branding and Hub-and-Spoke Strategy Under New Leadership
The Premier gold project is located 25 kilometres from the town of Stewart, British Columbia. Credit: Ascot Resources Ascot Resources (TSXV: AOT.H) is proposing a rebrand of the troubled company as it looks to a fresh start under a new leadership team, with plans in place for its two projects in British Columbia. Cambria Gold […]
Black Pine Ranks Among the Largest Gold Projects in the Western U.S.
Liberty Gold vice-president of exploration, Peter Shabestari, points towards the old workings around the Discovery Zone at Black Pine. Credit: Henry Lazenby A resource update for Liberty Gold’s (TSX: LGD) Black Pine site in southeastern Idaho ranks it at the top of undeveloped gold projects in the state by contained ounces and in the region’s […]
Harmony Gold Announces Two-Year Revamp for Newly Acquired Australian Copper Mine
South African miner Harmony Gold’s recently acquired CSA copper mine in Australia requires a capital injection and a strategic rethink which could take two years, chief executive Beyers Nel said on Monday. Harmony, South Africa’s top gold producer by volume, is diversifying into copper – a metal critical to electric vehicles and power grid infrastructure […]
Infographic: Surge in Gold Prices Increases Worth of World Cup Trophy
Adobe Stock image. In about four months’ time, the world’s biggest single sporting event will kick off. Billions of football (or soccer) fans will be glued in front of their TV screens and mobile devices as they soak up the drama and excitement of the FIFA World Cup and await the crowning of a new […]
Column: As Global Metals Frenzy Escalates, Markets Strain Under Pressure
Stock image. The word on the Chinese street is that metals are the next hot thing. All you need to join the bull party is an online trading account, a bit of cash for the initial margin and access to the right WeChat chatroom to meet like-minded punters. China’s metal exchanges have for two months […]