Gold, Silver Mining Stocks Soar Despite Global Stock Declines
Gold and silver mining stocks posted big gains Tuesday despite plunging share prices among broad market indexes on both sides of the Atlantic Ocean.
Gold Price Jumps 2.9% to $1,700, Silver Soars 4.5% as Euro Fears Grow
Gold prices soared nearly three percent Tuesday as global investors fled stocks and the euro for safe-haven investments ahead of a critical European economic summit that many think will fail to fix the continent's debt and finance crisis.
Dennis Gartman Ready to Buy Back Gold, Sees Prices Rising
Independent investor Dennis Gartman says he is prepared to buy back the gold he sold when he cut his holdings in half last week, adding prices would certainly move upward.
Gold Prices Blast Through $1,700 Per Ounce Ceiling
Gold prices blasted through the $1,700 per ounce ceiling Tuesday that they have operated under for the last month on growing fears that Europe is already in an acute financial crisis.
IMF Suggests Ghana Raise Taxes on Miners
The International Monetary Fund told officials of Ghana, Africa's second-largest gold producer, that they should consider hiking taxes on the mining sector to boost revenue.
Gold Prices Shoot Higher as Brussels Meeting Nears
Gold and silver prices rose more than two percent Tuesday on rising fear that European leaders will be unable to produce a viable rescue plan for the continent's banks, or its staggering southern periphery.
Eurasian Development Bank to Lend $100M to Gold Miner
The Eurasian Development Bank, a state-run joint venture between six former Soviet republics, has agreed to lend about $100 million to a Kazakh gold miner to help boost output of the precious metal in the Central Asian country.
Norilsk Nickel's Palladium Output Down Jan.-Sept.
Russia's metals giant Norilsk Nickel, the world's largest palladium producer, said its palladium production for the first nine months of the year fell 5.1 percent to 2.1 million ounces.
Atacama Minerals Shares Soar on Acquisition News
Atacama Minerals Corp. said it will buy privately-held Sirocco Gold Inc. in an all-stock deal and bring in a new team headed by Chief Executive Richard Clark, sending its shares soaring 64 percent to a six-month high.
Great Basin Gold Reports 27% Sales Decline in 3Q
Great Basin Gold Ltd. sold 27 percent less gold sequentially in the third quarter from its operations in Nevada and South Africa.
Polymetal's London Listing More than 50% Subscribed
Russian miner Polymetal's placement book for its London listing is more than 50 percent subscribed after the company opened it a day before, two sources close to the deal told Reuters on Tuesday.
Gold Price Not in a Bubble, May Soon Rise - AngloGold Ashanti CEO
World no.3 gold producer AngloGold Ashanti Chief Executive Mark Cutifani sees no bubble in gold prices and said prices could easily go higher amid global economic uncertainty.
Mining Strikes in South Africa, Peru and More [PHOTOS]
Mining strikes are proliferating around the world, hitting global mining companies as well as regional ones.
Gold Output Rising at Sacre-Coeur Minerals' Million Mountain Property
Vancouver-based Sacre-Coeur Minerals Ltd. said Friday that a new dredging machine and related equipment has boosted gold production by more than 50 percent at its north-central Guyana operations.
Platinum Production Down on Strike at Bafokeng Rasimone Mine
Platinum production is falling at a South African mine because of a nearly week-long strike, Royal Bafokeng Platinum Ltd. said Friday.
Mongolian Supreme Court Orders Govt to Enforce Mining Ban
Mongolia's Supreme Court has ordered the government to enforce a ban on mining in river and forest areas following an appeal submitted by activists who said the country's fragile environment was threatened by reckless mining.
Freeport Indonesia Resumes Talks with Striking Grasberg Miners
Freeport-McMoRan Copper & Gold Inc. resumed pay talks on Friday with its Indonesian mine workers union in a bid to end a month-long strike as gunmen killed three people near the giant facility.
Barrick Gold, Antofagasta JV in 'Dispute' with Pakistani Officials
Tethyan Copper, a joint venture of London-listed copper miner Antofagasta Plc and Canada's Barrick Gold Corp , has filed a notice of dispute with Pakistan's Baluchistan province over its Reko Diq mine.
Amplats Posts 3% Refined Platinum Output Hike in 3Q
Anglo American Platinum Ltd., the world's biggest platinum producer, said Thursday that its third-quarter attributable refined platinum production rose three percent on a year-over-year basis.
Gold Investors Heartened by Miners Meeting Output Targets
London-listed gold miners Petropavlovsk and African Barrick Gold retained full-year production guidance, after a strong third quarter, further helping to rebuild investor confidence after missing targets last year.
Agnico-Eagle Hikes Cash Portion of Grayd Resource Offer
Gold mining giant Agnico-Eagle Mines Ltd. is increasing the cash portion of a takeover offer for Grayd Resource Corp., another gold miner, which hold assets in Mexico.
Striking Miners to Return to Work at Grasberg Gold Mine
Miners at Freeport Indonesia will end a month-long industrial action and blockades at the world's second-biggest copper mine if the firm scraps sanctions against striking workers and considers a five-fold pay hike, the union said on Thursday.
Gaddafi Captured Says NTC Council: Sirte Seige Ends Triumphantly for New Government
Long-time Libyan strongman Muammar Gaddafi has been captured and wounded in both legs, an official of the nation's National Transitional Council said Thursday.
African Barrick's 3Q Profit Rises to Record
African Barrick Gold Plc said its profit rose to a record in the third quarter boosted by higher production and all-time high gold prices.
Russian Gold Miner Petropavlovsk Sees 3Q Ouput up 65%
Russian gold miner Petropavlovsk said on Thursday that its third-quarter output rose 65 percent, beating most forecasts, and that it was confident of meeting its full-year target of 600,000 ounces.
Gold Mining Stocks Hammered, Some Near 52-Week Low
Gold mining stocks plummeted Wednesday even though the price of the metal slipped only a bit and the broader market, as measured by the S&P 500, declined modestly.
New CFTC Trading Limit: Will It Curb 'Speculation'?
The United States pushed through its toughest measures yet to curtail speculation in commodity markets in a tight vote on Tuesday, likely shifting the focus of a fierce four-year debate from the regulators to the courts.
Taseko Mines' Plan for Gold Mine in BC Draws Fire
If Taseko Mines presses ahead with a plan to build a mine on aboriginal lands in British Columbia it could harm the Canadian province's plans to expand the mining sector, a native leader said on Wednesday.
Aquarius Platinum Resumes Production at Everest Mine
Aquarius Platinum Ltd. said Wednesday it resumed production at a mine in South Africa that had been briefly closed due to a strike.
Gold Eases Fractionally, Euro Sentiment Up
Gold eased on Wednesday as growing hopes of a resolution to the Eurozone debt crisis persuaded investors to shrug off a downgrade to Spain's credit rating and buy riskier assets such as equities.
