Gold Miners Seeking Ways To Attract Investors
A collapse in gold producers lofty valuations has sparked soul searching about an exodus of restive shareholders, forcing them to tighten operations and boost dividends to lure investors.
Gold Plunges On ECB Comments That Boosted Dollar
Gold prices hit their lowest since early January on Wednesday as comments from the European Central Bank lifted the dollar to three-week highs against the euro, accelerating a fall sparked by declining expectations of more U.S. monetary easing.
US Employers Created 209,000 Jobs Last Month: ADP
U.S. employers created 209,000 jobs in March, slightly more than analysts expected but less than the previous month's figure, a report from Automatic Data Processing Inc., a private payrolls processor showed, on Wednesday.
US Auto Sales Up In March On Low Interest Rates
U.S. sales of autos surged in March as consumers decided to replace aging gas-guzzlers and take advantage of low interest rates, especially to buy fuel-efficient vehicles.
Peru Implements Law On Mining Conflicts
Peru implemented a new law on Tuesday that aims to calm debilitating social conflicts over natural resources in the top global metals exporter, and the new rules could cover indigenous and peasant communities in much of the country.
First Majestic Buying Silvermex Resources For $176.57M
Silver miner First Majestic said on Tuesday that it will take over Silvermex Resources in a friendly deal that values the smaller company at C$175.4 million ($176.57 million).
Gold Prices Hold Near $1,675
Gold held near $1,675 an ounce on Tuesday as investors took to the sidelines ahead of the release of minutes from the Federal Reserve's latest policy meeting, which will be closely watched for clues on the direction of monetary policy.
African Barrick Gold Ups Estimate for Nyanzaga in Tanzania
African Barrick Gold raised the mineral resource estimate for its Nyanzaga project in Tanzania, and said the project had the potential to become its next mine in the country.
Cluff Gold Chairman Steps Down
Algy Cluff, resources veteran and one-time owner of The Spectator political weekly, announced on Tuesday he would step down next month as non-executive chairman of Cluff Gold to take on a chief executive role at new resources company.
Manufacturing Report Lifts Stocks: Daily Markets Wrap
Stocks and other risky assets rallied Monday after a widely followed U.S. manufacturing index suggested activity in that industrial sector further strengthened in March.
India's Tital Industries Gets OK To Directly Import Gold
India's Titan Industries, a jewellery maker promoted by the Tata group, has got approval from the government to directly import gold, its key raw material, said a government official, a move which will help the company save its operating costs.
Gold Prices Rise Above $1,680 On Weak Dollar
Gold prices rose above $1,680 an ounce on Monday as the dollar steadied off earlier one-month highs against the euro, with the U.S. unit further paring gains after U.S. construction spending and manufacturing data.
BA OK'd To Buy British Midlands In $276M Deal
The owner of British Airways PLC gained European Union approval Friday to buy U.K. airline British Midland Airways Ltd., known as bmi, from German owner Deutsche Lufthansa AG for $276 million.
Gold Rises As Dollar Falls And Euro Zone Firewall Expands
Gold prices rose on Friday as the dollar fell to a one-month low against a basket of currencies, including the euro, after European finance ministers agreed to boost the euro zone's debt crisis firewall to roughly 800 billion euros ($1.1 trillion).
Euro Zone Bolsters Financial Firewall By Combining Rescue Funds
Finance ministers from the 17-member currency area agreed to combine, for one year, a pair of rescue funds meant to help avert a default by Spain, Italy or Portugal, or a repeat by Greece, which warned that a third bailout might be necessary.
South African Govt Gets Into Platinum Mining
South Africa's government is to plough $420 million into a public-private platinum venture with Pallinghurst Resources that has ambitions to become the world's third-largest producer of the precious metal.
Gold Prices Slip Below $1,660
Gold prices slipped below $1,660 an ounce in Europe on Thursday, extending their retreat from two-week highs into a third session, as the dollar recovered from a near one-month low and crude oil prices turned lower.
Bjorkdal Gold Mine Reserves Increased
Gold-Ore Resources Ltd. said Wednesday it was increasing the underground reserves at its Bjorkdal gold mine in Sweden by 210 percent.
Kirkland Lake Gold Paying $60M For JV Stake
Canadian gold miner Kirkland Lake Gold said it will buy Queenston Mining's 50 percent stake in certain joint venture properties for C$60 million ($60 million) to develop its inventory of the precious minerals.
Gold Prices Slide Below $1,680
Gold prices slid below $1,680 an ounce on Wednesday, extending the previous day's retreat from two-week highs as the momentum sparked by expectations for further monetary easing faded after the metal failed to break through key resistance.
Stocks Slip, Yields Edge Up: Daily Markets Wrap
Window dressing, the practice of stock fund managers buying up top performers as the quarter ends to boost the appearance of success, failed Tuesday to lift the major indexes into positive territory.
Centerra Gold Cuts Kumtor's '12 Forecast
Canadian miner Centerra Gold on Tuesday slashed its forecast for 2012 production at its flagship mine in Kyrgyzstan by about a third due to ice movement in the pit, a decline sure to weigh on the fragile economy of the Central Asian state.
Gold Prices Steady Around Two-Week Highs
Gold prices steadied around two-week highs on Tuesday after posting their biggest one-day rise since late January in the previous session, boosted by expectations that U.S. interest rates will stay lower for longer and by gains in the euro.
Kirkland Lake Gold Output Hit By Power Problems
Kirkland Lake Gold Inc said a week-long power interruption at its gold mill in Ontario has disrupted its gold production in the fourth quarter.
Russian Gold Production To Slow This Year To 3%
Russian gold production growth could slow to 3 percent in 2012, comparing with last year's 3.6 percent increase, due to declining output from several mines, the Gold Industrialists' Union said in a statement on Monday.
Gold Up 1% On Bernanke Comments
Gold prices rose 1 percent on Monday after comments from U.S. Federal Reserve Chairman Ben Bernanke that faster growth will be needed to boost employment supported expectations that further quantitative easing measures may be necessary.
Weak US Home Sales Add To Recent Downbeat Data: Daily Markets Wrap
A surprisingly weak U.S. new-home sales report Friday exposed the vulnerability of the nation's economic recovery and renewed hopes -- or fears, depending on one's views -- that the Federal Reserve will expand its balance sheet for a third time by purchasing more bonds.
Silver Wheaton Books Record 2011 Performance
Silver Wheaton Corp., which gets its revenue under contracts with producing miners rather than produce silver and other metals itself, said Friday its fourth-quarter profit rose 20 percent on higher sales volumes and higher silver and gold prices.
Ecuador's President Pressing Ahead With Gold Mining, Despite Opposition
Ecuador's President Rafael Correa insisted on Thursday he will push ahead with plans to develop large-scale mining, seeking to ride out the arrival in Quito of ind igenous de monstrators who fear their lands will be wrecked.
Canadian National Railway Buying 161 Locomotives
Canadian National Railway Co. (NYSE: CNI) said Thursday it is buying 161 locomotives to accommodate anticipated traffic growth over the next two to five years and boost operational efficiency.
