Gold, Silver Prices Plunge on Eurozone Pessimism
Precious metals assets tumbled Monday on doubts that last week's Eurozone restructuring plan addresses immediate threats of dollar liquidity, bank defaults and national bankruptcies.
Grasberg Union to Extend Strike to Jan. 15
An Indonesian workers' union plans to extend a three-month strike at Freeport McMoRan Copper & Gold's Grasberg mine until Jan. 15, union official Virgo Solossa told Reuters on Saturday.
Indophil Resources Eyes Manilla Listing
Australia-listed Indophil Resources, which holds a 37.5 percent stake in Southeast Asia's largest undeveloped copper-gold prospect, said on Monday it was considering also listing its shares in the Philippines, where a key shareholder is based.
Higher Gold Output Cuts Mwana Africa 1st Half Loss
Mwana Africa reported a narrower first-half loss, driven mainly by a jump in production at its Freda Rebecca gold mine in Zimbabwe, and said it continued to be in talks with the government there about the issue of turning over a 51 percent stake to locals.
Gold Drops 1.8% as Dollar Jumps, Risk Appetite Falls
Gold prices dropped 1.8 percent Monday as the dollar rose on disappointment with last week's Eurozone summit and key price support for gold failed.
Gold Modestly Higher on Eurozone Treaty Plan
Gold prices eked out a small gain Friday after Eurozone leaders agreed to surrender some of their national fiscal sovereignty to prevent another debt crisis and U.S. economic reports signaled a growing recovery.
Zambia's Mining Royalties Could be Cut
Zambia, which said last month its 2012 budget would hike mineral royalties, could cut back those rates if commodity prices collapse next year, the mines minister in Africa's top copper producer said on Friday.
Row over Copper-Gold Mine to be Resolved This Month - Ivanhoe
Ivanhoe Mines Ltd said it expects a ruling on an arbitration dispute with Rio Tinto, its largest shareholder, to be delivered within a couple of weeks.
British Luxury Jewellers Expand into China
Britain's luxury jewellers are opening outlets in China, where demand for jewellery is set to grow while appetite wanes in western markets.
Nord Gold's 'Core' Earnings May Hit $600M - Severstal
Russian steelmaker Severstal's Nord Gold mining unit expects to achieve core earnings of $550 million to $600 million this year, Chief Executive Nikolai Zelenski said during a conference call with analysts on Friday.
Gold Edges up After Euro-Summit Appears to Succeed
Gold prices edged higher Friday after Eurozone leaders, in their eighth sovereign debt crisis summit this year, agreed to craft a treaty that will limit the ability of members to run-up unsustainable government debts.
Gold Prices Fall 1.8%; USD Shortage, ECB Blamed
Gold prices tumbled more than two percent Thursday after the European Central Bank doused hopes that it would accelerate purchases of debt-choked Eurozone nations.
West Africa-focused Avocet Mining Aims for FTSE 250 in March
West Africa-focused gold producer Avocet Mining expects to enter the FTSE 250 index in the March reshuffle and tap investment from index tracking funds.
Gold Prices Fall Hard on ECB Restraint
Gold prices fell Thursday as the European Central Bank head tapped down hopes of more government bond buying, hammering the euro and boosting the dollar.
Ghana Gold Town Yet to See Gains
Tucked away in Ghana's southern Ashanti region, Obuasi has all the trappings of a gold-rush town, including a statue of a miner painted in gold and a huge conveyor belt crisscrossing the city centre. But while rows of neat miners' cottages show some local gain from a commercial mining industry dating back to the 19th century, many of its residents complain they have yet to feel the full benefit of the riches buried beneath their feet.
First Colombia Gold Closer to Owning South Idaho Silver Project
First Colombia Gold Corp. moved closer to gaining sole ownership of the 160-acre South Idaho Silver Project, the company said Thursday.
Teranga Gold Cuts 2011 Gold Production Estimate
Teranga Gold Corp. expects its fourth-quarter fold production to be lower than expected and more costly than expected, causing its full-year output to be 130,000 ounces to 135,000 ounces rather than the 140,000 ounces previously expected.
Kirkland Lake Gold's 2Q Profit Rises
Gold miner Kirkland Lake Gold Inc posted higher second-quarter profit helped by a rise in gold production and prices.
Gold, Currencies, Stocks Quiet Ahead of Critical Summit
Gold prices, like global stocks and major currencies, hardly moved Thursday as investors waited to see if Europe would manage to stanch its debt crisis and avoid a recession, or worse.
Gold Prices Rise as Investors Eye Eurozone
Gold prices rose Wednesday as purchases by cost-conscious investors offset worries about the Eurozone debt crisis and a rising dollar.
Conga Mine Opponent Held after Congressional Meeting
Foes of Newmont Mining's $4.8 billion Conga mine project in Peru said on Wednesday they were practically kidnapped by counterterrorism police in a crackdown on left-wing activists by President Ollanta Humala.
Large Gold Producers Pressured to Buy Copper Assets - MEG
Large gold producers are coming under increasing pressure to buy copper assets simply to boost their gold reserves, the CEO of Metals Economics Group said Wednesday.
Great Basin Gold Credit Line Opens Dec. 15
Great Basin Gold Ltd. expects to be able to draw on a new $150 million credit line by Dec. 15, the Vancouver-based mining company said Wednesday.
Palladium Prices Extend Two-Month Rally
Palladium prices extended a two-month rally Wednesday as rising U.S. car and truck sales signaled increased demand for the white metal.
Gold Prices Barely Move Ahead of Eurozone Summit
Gold prices barely moved Wednesday ahead of a key Eurozone summit global that investors hope will finally produce a viable solution to Europe's 2-year-old debt crisis.
Gold Overcomes Early Loss, Ends Fractionally Lower
Gold prices overcame nearly all of a big early session loss Tuesday sparked by Standard & Poor's threatening 15 European nations with a credit rating downgrade.
European Goldfields Gets Takeover Bid from El Dorado - Blogger
Shares of Greece-focused European Goldfields Ltd. were halted Tuesday after rocketing more than 20 percent on a reported approach by another gold company, according to a published report.
Xstrata Stills Sees Value in Lonmin Investment
Global miner Xstrata said on Tuesday it still saw value in its investment in Lonmin , despite a significant underperformance in the platinum producer's share price against the sector this year.
Schroders Plc Prefers Cash and Gold, Not Equities
Schroders holds the lowest position possible in equities and has extremely high levels of gold and cash, reflecting its concern about recession in the developed world and a failure to resolve the euro zone debt crisis, its chief investment officer said on Tuesday.
Centerra Gold Shipping Supplies to Kyrgyzstan Mine
Centerra Gold Inc. resumed shipping diesel fuel and other supplies from the Kumtor marshalling yard in Kyrgyzstan to Kumtor mine after the voluntary lifting of the previously announced roadblock, the company said Tuesday.