Asian Gold Buying Slows on Price Hikes, Demand Remains Firm
Asia's gold buyers trimmed purchases as prices rebounded, but demand is expected to stay firm as India approaches key festivals next week, underpinning sentiment in the precious metal.
Endeavour Silver Expands Chilean Operations
Endeavour Silver Corp. acquired an option to purchase the Lomas Bayas silver-gold property in the Copiapo region of northern Chile for an undisclosed price.
Freeport-McMoRan Copper & Gold's 3Q Profit, Gold Production Off
Falling copper prices and labor strife at some mines cut Freeport-McMoRan Copper & Gold Inc.'s third-quarter results by 11 percent.
Tanzania to Raise Royalty Payments on Gold Exports
Tanzania plans to raise royalty payments on exports of gold by the end of this year as it seeks to restructure the mining sector, Minerals and Energy Minister William Ngeleja said Wednesday.
Carpathian Gold Shares Fall as Brazilian Project Halted
Carpathian Gold Inc. has suspended construction of a Brazilian project over environmental concerns and, as a result of the suspension, amended a recent stock offering.
Agnico-Eagle to Take $170M After-Tax Writedown on Goldex Trouble
Agnico-Eagle Mines Ltd. suspended operations at its Goldex mine in Val d'Or, Quebec, Canada, over concerns about flooding in the mine and will write down its investment in the project by an after-tax amount of $170 million.
Gold Could Fall below $1,500 Soon, But Then Top $2,000 or $3,000 - CitiFX
Gold could fall below $1,500 an ounce in the near term, as bullion has underperformed other assets and appears to have lost its safe-haven appeal, CitiFX said on Tuesday.
Gold Steady as Investors Await Weekend Summit
Gold prices held steady on Wednesday, shrugging off the downgrade of Spain's sovereign credit rating, as investors wait for clarity on Europe's plans to tackle the debt crisis at this weekend's European Union summit.
Agency Narrowly Votes to Curb Derivatives Trades; Precious Metals Affected
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.
Gold Plunging More Than 2%, May Fall Most in 2 Weeks
Gold was set for its largest one-day fall in two weeks on Tuesday after U.S. bank Goldman Sachs reported a quarterly loss, which coupled with evidence of slowing Chinese growth and mounting Eurozone concerns, lifted the dollar.
Vandalism, Protest Blockade Halts Work at Peru's Yanacocha Gold Mine
Newmont Mining Corp. halted work at its giant Yanacocha gold mine on Monday after protesters blocked an access road and torched eight pieces of earth-moving equipment, prompting the company to ask Peru's government to intervene.
Platinum Holdings at ETF Securities ETF Down 10%
ETF Securities said on Tuesday the amount of metal it held to back its Physical Platinum exchange traded commodity fell 10 percent in the week to Aug. 24.
Silver Production Rises 8% at Scorpio Mining's Mexican Operations
Scorpio Mining Corp. said Tuesday that third-quarter production of silver and other metals from its Nuestra Señora operation in Mexico rose 13 percent over the year-earlier level.
Eastern Platinum's Crocodile River Production Falls
Canada-based Eastern Platinum Ltd. said Tuesday production from its flagship Crocodile River mine in South Africa fell nearly a third due mainly to the consequences of labor disputes earlier this year.
Kazakhstan Boosting Gold Reserves in Case of Financial Crisis
Kazakhstan, the second-largest ex-Soviet economy and oil producer after Russia, has enough reserves to weather a new wave of financial crisis and keep its currency stable, the National Bank governor told Reuters Insider TV.
Alaska Locals Block Development of Gold, Copper Mine
Voters in a sparsely populated district of rural Alaska have narrowly passed a ballot initiative that could block development of the controversial Pebble Mine, local officials said late Monday.
Freeport McMoRan Mulls Long-Term Shutdown of Indonesian Mine
Freeport-McMoRan Copper & Gold is considering shutting down its strike-hit Grasberg mine as one of several contingency plans if security does not improve, as it struggles with one of the worst labor disruptions in Indonesia's mining industry.
Gold Reserve Levels at World's Central Banks Steady: World Gold Council
Gold reserve levels at the world's central banks are holding steady, the World Gold Council reported Monday.
Miners at Freeport McMoRan's Peru Mine Start Hunger Strike
Freeport-McMoRan's miners in Peru launched a hunger strike on Monday, hoping to pressure the government to resolve a labor dispute 19 days into a walkout at the Cerro Verde copper mine.
Silver Mining Company Shares Plunge on 'Euro-Pessimism'
Silver mining company shares fell hard Monday, along with the price of the gray metal, on growing doubts that European leaders will be able to solve the continent's sovereign debt and banking crisis.
Nevada-based Gryphon Gold Completes First Production Shipment from Nevada
Gryphon Gold Corp., a Nevada-focused gold explorer, completed its first production shipment of carbon loaded with gold and silver and said it expects to record its first revenue in four weeks, sending its shares up as much as 10 percent.
New Gold Buying Silver Quest in All-Stock Deal
New Gold Inc., which mines gold in North and Australia, said Monday it is buying Canada's Silver Quest Resources Ltd. in a stock deal worth about $130 million.
Silver Production up 8% at Alexco Resources's Yukon Territories Mine
Silver production last quarter at Alexco Resource Corp.'s Bellekeno Mine in Canada's Yukon Territories mine rose eight percent, the Vancouver-based company said Monday.
Indian Gold Futures Steady, Stronger Rupee May be a Negative
India gold futures were steady on Monday afternoon following a similar trend in overseas markets, although a stronger rupee could weigh on sentiment later in the day, dealers said.
Guinea to use 35% of $700M Windfall from Rio Tinto on National Infrastructure
The government of Guinea will use 35 percent of a $700 million windfall from Anglo-Australian miner Rio Tinto to rebuild the mineral-rich West African nation's broken infrastructure, a Guinean official said on Sunday.
Freeport McMoRan Halts Grasberg Production, Cites Striker Blockades and Safety
Freeport McMoRan Copper & Gold Inc. halted copper and gold production on Monday at its giant Grasberg mine in Indonesia because of security fears and worker blockades, in the worst supply disruption since a strike began a month ago.
Gold Mining 'Rush' in South Carolina: Historic Mine to Tap Carolina Slate Belt
A Canadian mining company and a tiny South Carolina town are leading what could be a modern gold rush to the southeastern United States.
6 Reasons Gold Prices Will Climb to $2,075 Next Year
Gold prices will climb to $2,075 next year on six key variables that, UBS said Friday in a report on the precious metal.
Moscow's VTB Capital Invests $100M in Russia's Polymetal
Russian gold and silver miner Polymetal has secured a $100 million investment from Moscow investment bank VTB Capital as part of its planned listing on the London Stock Exchange, the company's deal prospectus showed on Friday.
South Africa, World's No. 1 Platinum Producer, Mulls Own Exchange
South Africa is looking at establishing its own metals exchange as part of a wider government plan to extract more value from the country's huge mineral wealth, much of which is exported as ore rather than being refined and processed locally.
