Rise 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),...
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Newmont’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...
READ MOREPorgera Gold Mine Gears Up for Resumption Zijin Mining, a major player in the global mining industry, has announced the imminent full-scale resumption of production at its Porgera Gold Mine in Papua New Guinea (PNG). The mine is scheduled to restart operations on December 22, 2023, following the completion of essential prerequisites for its reopening....
READ MOREUS Bureau of Land Management Approves Goldrush Mine Barrick Gold Corporation has announced the approval of its Goldrush underground mine at the Cortez Complex near Beowawe, Nevada. The US Bureau of Land Management has issued a Record of Decision (ROD), marking a significant milestone for the project. The mine, belonging to Nevada Gold Mines (NGM),...
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Breakthrough in Gold and Silver Prices Precious metals analyst Cyrille Jubert reported that gold and silver have broken through crucial monthly resistance levels, with the Shanghai gold premium reaching 1.9%. This development indicates a strong upward trend in precious metals. Gold Price Projection Jubert predicts that the price of gold could reach $3,170 by 2025....
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Financing Secured for Borborema Gold Project Aura Minerals Inc. has secured a new financing arrangement for the Borborema gold project in Brazil. Through its subsidiary, Borborema Inc., the company has obtained a total of US$31 million. This financing comprises a US$21 million net smelter return royalty and a US$10 million gold-linked loan provided by Gold...
READ MOREUpdated Reserves and Resources Dundee Precious Metals Inc., based in Toronto, has recently updated the Mineral Reserve and Resource estimates for its Chelopech mine in Bulgaria. The new estimates project an extension of the mine’s operational life until 2032. The updated figures show Proven and Probable Mineral Reserves of 1.6 million ounces of gold and...
READ MOREDiscovery by Alchemists in the 16th Century Fulminating gold, a compound first discovered by 16th-century alchemists, has long intrigued scientists due to the unique purple smoke it produces upon detonation. Predominantly composed of various compounds and ammonia, fulminating gold’s explosive nature was initially observed by German alchemist Sebald Schwaertzer in 1585. The material garnered attention...
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Project Overview and Potential The Bayan Khundii (BK) gold project, located in southwestern Mongolia, is on track to become one of the world’s highest-grade open-pit gold mines and the largest primary gold producer in Mongolia by 2025. An updated feasibility study completed in August 2023 highlights the project’s promising economic potential. Feasibility Study Highlights The...
READ MOREAnalyst Chris Brown from Morgans anticipates a substantial increase in production at Catalyst Metals’ Plutonic gold mine in Australia. Over the next two years, the company is expected to double its annual output, surpassing 150,000 ounces. This surge in production is likely to lower cash costs per ounce and elevate Catalyst Metals to the mid-tier...
READ MOREAnglo Asian Mining reported a significant reduction in gold and silver production in Azerbaijan for the period from January to September 2023. The company’s gold equivalent output fell by 33.4% year-on-year, with gold production decreasing by 41.3% to 18,771 ounces and silver production dropping by 65.2% to 50,272 ounces. However, copper production saw an 11.6%...
READ MORESteady Revenues Amidst Challenges Americas Gold and Silver Corporation unveiled its Q3-2023 financial performance, reporting a consistent revenue of $18.3 million, mirroring the same period in 2022. This outcome was driven by a rise in silver production and pricing at the Galena Complex, counterbalanced by a decrease in base metal output and a drop in...
READ MOREBlockchain in the Gold Business: On November 1, HSBC unveiled HSBC Orion, its innovative blockchain bond monetization platform. The primary objective? To convert the bank’s physical gold ownership stored in London vaults into a more liquid asset. Digital Tokens for Gold Bullion: With this new system, digital tokens will be produced, each symbolizing gold bullion....
READ MORESignificant Developments International company Alara Resources highlighted its progress in the Al Wash-hi Majaza copper-gold project in Al Mudhaibi, Al Sharqiyah North, according to its recent annual report. The company continues to make strides, with the project getting closer to inception. Background and Partnerships Operated by Al Hadeetha Resources, this joint venture includes Alara Oman...
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Unexpected Upward Swing in Morning Trading Spot gold experienced a sudden rise during Asian morning trading sessions, with prices peaking at $1,975 per ounce, marking a period high. This uptick comes after a notable dip earlier in the week, showing a robust recovery and raising speculations of the metal testing the $2,000 resistance level soon....
READ MOREProduction Highlights: – Silver: Q3 attributable silver production reached 14.1 moz, a 5.1% decrease from Q2 2023, primarily due to lower ore grade and processed volume at multiple sites. However, production rose by 3.8% compared to Q3 2022, thanks to the Juanicipio mine’s ramp-up. – Gold: Attributable gold production was 132.6 koz, down by 13.0%...
READ MOREPrecious Metal on the Decline October 2023: Gold prices experienced a downturn on Tuesday, continuing the trend from the previous session. The market’s anticipation of critical U.S. economic data and forthcoming commentary from Federal Reserve officials has influenced this trajectory. Despite the initial surge in prices during the Israel-Hamas conflict, the trend reversed following robust...
READ MOREIn the ever-mercurial commodities market, both gold and copper prices have registered a downturn, driven primarily by the strength of the U.S. dollar and burgeoning stock levels in various exchange-associated warehouses. This financial interplay has led to dollar-priced commodities like gold and copper becoming costlier for investors using other currencies, consequently dampening global demand. Inventory...
READ MOREIn a significant move within the UK’s mining sector, Cornish Tin has received royal consent to embark on gold and silver exploration across Cornwall. The company, backed by the Crown Estate, now holds exclusive exploration rights spanning 123,447 acres, signaling a potential revival of Cornwall’s storied mining industry. Historical Industry Meets Modern Opportunity in the...
READ MOREDundee Precious Metals announced its production figures for the third quarter of 2023, covering both its mines and smelter. Operational Highlights: Check out more latest Precious Metals News!
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CEO Transition at Gold Fields Following the departure of Chris Griffith in late 2022, Gold Fields had Martin Preece acting as an interim CEO. Now, Gold Fields, South Africa’s preeminent gold producer and the largest in Africa, has announced a new CEO. Starting January 1, 2024, former South32 executive Mike Fraser will helm the company....
READ MOREMike Fraser, the Chief Executive Officer of Chaarat Gold Holdings, has stepped down from his position effective immediately. Following the announcement, the company’s shares saw an 11% uptick, trading at 4.38 pence on Monday morning. Chaarat Gold Holdings, known for its operational mine in Armenia and additional assets in Kyrgyzstan, has decided to forgo Fraser’s...
READ MOREFortuna revealed record Q3 2023 gold and gold equivalent production from its five operating mines in West Africa and Latin America. For the third quarter, the company reported gold and silver production figures of 94,821 ounces (a 43% rise from Q3 2022) and 1.7 million ounces (a decrease of 6% from Q3 2022), respectively. This...
READ MOREThe World Gold Council has named Neal Froneman as its new Chair. Froneman has served as the CEO and an Executive Director of Sibanye-Stillwater for over 10 years. During his tenure, Sibanye-Stillwater expanded its operations from a South African gold producer to a multi-national diversified mining and processing business with assets on five continents. The...
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