IAMGOLD Corporation has announced its preliminary full-year and fourth quarter 2023 production results, along with notable progress at the Cote Gold Project in Ontario, Canada. The company’s production results for 2023 align with the higher end of its annual production guidance. 2023 Production Highlights – IAMGOLD achieved an attributable gold production of 465,000 ounces in...
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Seligdar, a prominent Russian producer of gold and tin, has reached a new historical milestone in 2023, achieving unprecedented production levels. The company reported gold production of 8.27 tonnes and tin production of 3,000 tonnes, setting a new record in its operational history. This significant achievement reflects dynamic year-on-year growth across its key metals: gold...
READ MOREAzerbaijan is on the path to stabilizing its gold production in the period from 2024 to 2026, following a projected decline in 2023. This projection is based on the operations of the country’s major gold mining companies, Anglo Asian Mining and AzerGold, which are preparing to initiate new deposits of valuable metals. Key Developments Contributing...
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Auriant Mining, a notable player in the gold mining sector, has recently published its operational update for the 12-month period of 2023, highlighting key production figures and operational achievements. The report provides a comprehensive overview of the company’s hard rock and alluvial gold production, ore processing, and sales data. Production and Sales Overview Operational Highlights
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Gold prices witnessed a significant decline, reaching over a one-month low, as robust economic data bolstered the U.S. dollar and Treasury yields, diminishing hopes for an imminent U.S. interest rate cut. Key Developments: – Spot Gold Price: Dropped by 0.9% to $2,008.89 per ounce, the lowest since December 13. – U.S. Gold Futures: Also fell...
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Griffin Mining has reported a record-breaking year at its Caijiaying Zinc Gold Mine, marking 2023 as a year of spectacular growth in production and financial performance. Key Achievements of 2023: Financial Highlights: Chairman’s Statement: Company’s Background and Growth:
READ MOREAzerbaijan is set to significantly increase its gold mining output in 2024, with a government forecast predicting a production of 3,083.5 kilograms. This upward trend is expected to continue, with projections for 2025 and 2026 indicating further growth in gold output. Gold Production Forecast: Copper Production Outlook: Current Production Status: Key Players in Azerbaijan’s Mining...
READ MOREPan American Silver has released its preliminary production figures for the year 2023, which show a slight drop in silver output but a significant rise in gold production. These figures include contributions from the four mines acquired following the company’s takeover of Yamana Gold, with production data from these mines accounted for from March 31,...
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Evolution Mining has released its quarterly report for December 2023, showcasing significant financial and operational results. Key highlights include: Northparkes Acquisition Evolution Mining successfully completed the acquisition of an 80% interest in the Northparkes copper-gold mine. The mine contributed 1,193 tonnes of copper and 1,011 ounces of gold, generating a cash flow of $9.5 million...
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Bob Moriarty, the founder of 321gold.com, has shared insights into the current state of the precious metals market, particularly focusing on gold and silver. In the last three weeks, there has been a noticeable negative sentiment toward these markets, which Moriarty believes may be indicative of a nearing market bottom. This sentiment could potentially lead...
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Barrick Gold Corporation has released preliminary production results for the full year and fourth quarter of 2023. The company achieved a gold production of 4.05 million ounces for the year, aligning with forecasts outlined in the third-quarter release. Copper production for 2023 totaled 420 million pounds, falling within the guided range of 420 to 470...
READ MOREThis Week in Metals: Alcoa’s Refinery Closure, Saudi Arabia’s Gold Discovery, and Lithium’s Market Dynamics Alcoa Announces Significant Reduction at Kwinana Alumina Refinery Alcoa, a prominent US metals corporation, is set to completely shut down its Kwinana alumina refinery in Australia this year. The shutdown process is slated to begin in the second quarter of...
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Saudi Arabia has announced a groundbreaking discovery of extensive potential gold ore sources within its territory. The ore belt, stretching up to 125 kilometers, is estimated to hold a value of a staggering $50 trillion U.S. dollars. This discovery is poised to trigger a new gold rush and significantly stimulate the Saudi market. The gold...
READ MOREProposals for Amendment The State Bank of Vietnam (SBV) is set to present a report in January 2024 proposing amendments to Decree 24/2012/ND-CP. This decree, which has been instrumental in managing the gold market since May 2012, is being reviewed for modifications to better align with the evolving market dynamics. Challenges in the Current Gold...
READ MORETransaction Overview Gold Fields has announced the sale of its 45% share in Ghana’s Asanko gold mine to Galiano Gold, a TSX-listed joint venture partner, for a total consideration of $170 million. Alongside the sale, Gold Fields will acquire a 1% net smelter royalty on future production from the Nkran deposit, the primary deposit at...
READ MOREBullish Trend in Gold Market Gold prices have witnessed a significant increase in low-volume Asian trade on Tuesday, breaking out of the December trading range. This surge is attributed to soft U.S. inflation data, which has fueled expectations of early interest rate cuts in 2024. Spot gold saw a rise of 0.5% to $2,064.16 an...
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Production Overview Iran’s Mouteh Gold Complex, located in Isfahan Province, has experienced a minor decline in gold bar production. According to Trend’s report referencing data from the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), the complex produced 167 kilograms of gold bars in the first eight months of the current Iranian year...
READ MOREKey Development in Oman’s Mining Sector The Yanqul Copper-Gold Project, developed by Mazoon Mining (MMC), a subsidiary of Minerals Development Oman (MDO), is set to make significant progress. Australian-based engineering and project management firm Lycopodium has been awarded a contract to provide Engineering, Procurement, and Construction Management (EPCM) services for this ambitious project. Project Scope...
READ MOREReopening After Prolonged Closure The Porgera gold mine in Papua New Guinea, managed by Barrick Gold, is set to resume operations following an extensive period of inactivity. The mine, which has been on care and maintenance since April 2020, is undergoing recommissioning work, a process expected to span the next few weeks. This development follows...
READ MORESuccessful Completion of Gold Production Besra Gold has successfully completed the production of its first gold concentrate from the Bau Gold Project. This achievement fulfills the company’s obligations under the Gold Purchase Agreement (GPA) with Quantum Metal Recovery Inc, which was approved by Besra shareholders on July 25, 2023. Terms of the Gold Purchase Agreement...
READ MOREVietnam’s gold market has been experiencing widening disparities between domestic and world gold prices, raising questions about the effectiveness and future of Decree 24. Persistent Inadequacies in Gold Pricing Decree 24, aimed at regulating the gold market, has seen mixed results. The gap between domestic and world gold prices has expanded significantly, highlighting the limitations...
READ MOREReduction in Precious Metals Output Azerbaijan has reported a decrease in the production of gold and silver in the January to November period of 2023. According to the State Statistics Committee, the country produced 2,507.9 kg of gold and 3,762.2 kg of silver during this time. Comparative Annual Decline This production represents a significant decline...
READ MORERise in Mineral Production Value The Department of Environment and Natural Resources (DENR) in the Philippines has announced a significant increase in the value of metallic mineral production in the first three quarters of 2023. According to the Mines and Geosciences Bureau (MGB) of the DENR, the total value reached P189.08 billion (approximately $3.40 billion),...
READ MORENewmont’s Industry Leadership Newmont, a leading US-based gold mining company, has significantly expanded its market dominance with the acquisition of Australia’s Newcrest Mining. In 2023, Newmont’s gold production, including by-products like silver and copper (equivalent to around 740,000 ounces of gold), reached an impressive 6.21 million ounces. This output places Newmont at the top of...
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