Gold mining company Polyus is set to commence construction on two significant greenfield projects, Sukhoi Log in the Irkutsk region and Chulbatkan in the Khabarovsk region, Russia, in 2025. This announcement was made by Anton Rumyantsev, Vice President for Development and Special Projects at Polyus, during the company’s ESG-day. The Sukhoi Log project, based on...
READ MOREMeeka Metals has secured critical mine dewatering and clearing permits for its fully-owned Murchison project in Western Australia’s Mid West region. With mining permits expected early in September, the company moves closer to initiating gold production. The management has drawn down $1.34 million from a $2.2 million secured bridging loan to purchase the necessary camp...
READ MORE
Calibre Mining has announced that the Nicaraguan authorities have granted the necessary environmental permits for the development and production of the open-pit mines at the Volcan gold deposit, located approximately 5 km south of the Libertad mill. Darren Hall, President and Chief Executive Officer of Calibre, commented, “The approval of the Volcan permit demonstrates the...
READ MORE
On Friday, during the early Asian market, spot gold remained stable, hovering near $2,358 per ounce. This trading day, gold traders are keenly focused on the U.S. non-farm payrolls report, which is anticipated to cause sharp fluctuations in the gold market. Additionally, remarks from New York Fed President Williams are also on the radar. On...
READ MOREIn the New York trading session, gold prices experienced significant volatility following Federal Reserve Chairman Jerome Powell’s speech and the release of U.S. job vacancies data. Initially, gold prices surged to $2,337 per ounce before plummeting to $2,320 per ounce, then rebounding to around $2,330 per ounce. Powell’s remarks at a monetary policy meeting in...
READ MORE
Tennant Mining is set to invest $98 million in developing a gold processing plant at its Nobles Nob project, located 14km east of Tennant Creek. This new facility aims to service not only Nobles Nob but also other abandoned mines in the Barkly region, with commissioning expected in the second half of next year. The...
READ MOREGlobal miner Rio Tinto is currently in negotiations with workers at its Oyu Tolgoi copper operations in Mongolia to prevent further industrial action over significant wage reductions that led to a strike in May. The underground operations at Oyu Tolgoi, one of the world’s largest copper-gold deposits, began in March last year, with plans to...
READ MORE
Gold may face continued pressure due to a stronger dollar and higher bond yields, despite support from global ETF inflows and expectations of Federal Reserve rate cuts, analysts suggest. Conversely, silver prices could reach Rs 1 lakh per kilogram this year. The outlook for other base metals remains muted due to an oversupply situation. Last...
READ MORERussian diamond producer Alrosa has purchased a gold deposit in Russia’s Far East from miner Polyus. This acquisition marks Alrosa’s deeper venture into gold mining, which the company states will complement its existing business and enhance its financial stability without significantly altering its strategy. Alrosa’s CEO Pavel Marinychev highlighted the strategic benefits, saying, “The development...
READ MORE
In Asian morning trading, spot gold prices continued their short-term decline, dipping below $2330 per ounce. According to FXStreet analyst Christian Borjon Valencia, the technical trend of gold suggests further potential drops. On Monday, gold prices rose due to a pullback in the U.S. dollar, with investors anticipating the release of U.S. Personal Consumption Expenditures...
READ MORERegis Resources has filed to join IGO in the legal action initiated by South32 over a $122 million royalty dispute stemming from the Tropicana gold mine proceeds. In February, South32 sued IGO in the Supreme Court of Western Australia, claiming it is owed royalties from the mine dating back to 2014. The Tropicana gold project,...
READ MOREGold prices on the COMEX saw a slight increase today, driven by escalating geopolitical tensions in West Asia, which are prompting investors to seek protective assets. “Geopolitical concerns are escalating and will most likely be behind a new near-term bull unfolding soon,” Peter Cardillo of Spartan Capital Securities noted. However, the prospect of higher-than-expected inflation...
READ MORESienna Resources has announced the acquisition of the Stonesthrow Gold Project in Saskatchewan, a 13,300-acre property with potential for gold. This new project directly borders Ramp Metals Inc, which recently reported significant gold and silver mineralization, including 73.55 grams per tonne of gold and 19.50 grams per tonne of silver. Sienna’s management cautions that past...
READ MOREGold prices showed significant volatility during the Asian market session on Thursday, with spot gold briefly touching an intraday high of $2,339.04 per ounce before falling back to around $2,332 per ounce, with the intraday gain shrinking to approximately $4. According to FXStreet analyst Christian Borjon Valencia, the daily chart of gold indicates the presence...
READ MOREGold prices on COMEX fell slightly in early Asian trade, pressured by a firm dollar index, which makes commodities priced in the greenback more expensive for other currency holders. The narrow trading band reflects traders’ uncertainty about the timing of potential interest rate cuts by the US Federal Reserve. Retail sales in the US rose...
READ MOREOceanaGold Philippines anticipates a strong financial year driven by increasing global gold and copper prices, according to the company’s president. “The positive outlook for gold and copper definitely helps,” stated President and General Manager for External Affairs and Social Performance Joan D. Adaci-Cattiling in an interview with BusinessWorld. In the first quarter of 2024, the...
READ MOREAsante Gold Corporation has announced that the principal long-lead equipment for the Sulphide Recovery Plant at the Bibiani Gold Mine is expected to be shipped by mid-August 2024. The new facility is crucial for Asante’s strategy to increase gold production at Bibiani to over 250,000 ounces annually, aiming for a cumulative production of 1.2 million...
READ MORE
On Thursday, spot gold prices in the Asian market dropped, dipping below the $2310 mark and hitting a low of $2308.03 per ounce, down about $16 from Wednesday’s closing price. Analysts attribute this decline to hawkish comments from Fed Chairman Jerome Powell. FXStreet analyst Christian Borjon Valencia pointed out that gold’s technical picture shows a...
READ MOREMining activity in South Africa is expected to continue its upward trajectory for the better half of this year after rebounding at the beginning of the second quarter. Data from Statistics South Africa (StatsSA) showed that mining production rose by 0.7% year-on-year in April, recovering from a downwardly revised 4.8% decline in March. This improvement...
READ MOREIn Asian morning trading, spot gold saw a sudden drop, falling to $2308 per ounce with an intraday decline of more than $16. Analysts attribute this drop to hawkish comments from Fed Chairman Powell, which put downward pressure on gold prices. According to FXStreet analyst Christian Borjon Valencia, the technicals for gold show a head-and-shoulders...
READ MORE
Vedanta Chairman Anil Agarwal highlighted India’s heavy reliance on gold and copper imports and emphasized the need for increased private sector participation to unlock the potential of these sectors. Despite India’s substantial resources, the country remains heavily dependent on imports for both metals. “In today’s times, the importance of gold and copper has become significant,”...
READ MOREEmerita Resources has provided an update on the metallurgical testing program for its wholly-owned Iberian Belt West (IBW) Project. Conducted in collaboration with Wardell Armstrong International and SRK Consulting, Phase I of the program aimed to demonstrate the production of commercial-grade concentrates from the La Romanera and La Infanta deposits, which are part of the...
READ MOREOn Monday (June 10th), spot gold rallied $17 after a sharp decline in the previous session, breaking through the $2,310 per ounce mark. According to FXStreet analyst Christian Borjon Valencia, gold prices have strengthened despite a rise in US Treasury yields. Upcoming U.S. inflation data and a Federal Reserve resolution could significantly influence gold’s future...
READ MORE
The metallic minerals sector in the Philippines experienced a slow start in the first quarter of 2024, with production value down 12.76 percent compared to the same period last year. The Department of Environment and Natural Resources (DENR) reported that the value of domestic metallic mineral production fell to P51.81 billion (approximately $880.77 million) from...
READ MORE
