OceanaGold Philippines, Inc. (OGP) reported a 47.9% decline in net income for the first quarter, falling to $11.5 million from $22.1 million in the same period last year. This decrease is primarily attributed to lower gold and copper production. In a recent disclosure, the company’s revenues for the three-month period slightly decreased to $92.1 million,...
READ MOREGold prices slipped for the second consecutive session on Thursday as the U.S. dollar and Treasury yields edged higher ahead of key inflation data, which could offer further clarity on the Federal Reserve’s interest rate plan. Spot gold was down 0.4% at $2,330.44 per ounce as of 0311 GMT, after falling 1% on Wednesday. U.S....
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Anglo Asian Mining, an established producer of gold, copper, and silver in Azerbaijan, has released its annual report for the year ending December 31, 2023. The company produced a total of 31,821 gold equivalent ounces (GEOs) during the year, a decrease from the 57,618 GEOs produced in 2022. Despite the lower production, the company remains...
READ MOREGold and silver prices are higher, with silver showing significant gains in early U.S. trading Tuesday. Positive daily outside-market forces are supporting the bulls at the start of the U.S. trading week. The U.S. dollar index is lower, and crude oil prices are higher. June gold increased by $14.30 to $2,348.80, while July silver rose...
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Galantas Gold Corporation has announced plans to drill test the Kearney North target at its Omagh Project in County Tyrone, Northern Ireland. The company aims to explore the northern extension of the main Kearney Vein and investigate further dilation zones. Mario Stifano, CEO of Galantas, expressed enthusiasm for returning to surface drilling to extend the...
READ MOREGold Royalty has entered into a binding purchase and sale agreement with OMF Fund III (Cr), managed by Orion Mine Finance Management LP, to acquire a copper stream on the Vares Silver Project in Bosnia and Herzegovina. The project is operated by a subsidiary of Adriatic Metals. The transaction, valued at $50 million, includes $45...
READ MORESumitomo Metal Mining (SMM) announced on March 24 that it held an opening ceremony on March 22 for the Coté gold mine, which it has been developing in partnership with Canadian gold-producing giant IAM Gold. The event was attended by around 130 people, including top executives from both SMM and IAM Gold, project stakeholders, Japanese...
READ MOREOn Thursday, spot gold prices dropped over $40, falling below $2,380 per ounce. The decline was driven by hawkish comments in the Federal Open Market Committee (FOMC) minutes, which strengthened the US dollar and undermined the gold price trend. FXStreet analyst Christian Borjon Valencia noted that the FOMC minutes dampened hopes for a rate cut,...
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Marking a significant milestone in Oman’s efforts to commercialize its promising mineral resources, a maiden shipment of copper-gold concentrate from a newly commissioned mining project in Al Sharqiyah North Governorate is being prepped for export from Sohar Port and Free Zone next week. Al Hadeetha Resources LLC, an Omani-Australian joint venture, announced on Tuesday that...
READ MOREGold surged to a new record high on Monday as investors sought the safety of bullion following the sudden death of Iranian President Ebrahim Raisi over the weekend. Spot gold rose to USD2,435.76 an ounce around 1150 BST on Monday, up from USD2,385.57 on Friday. The yellow metal briefly touched USD2,450 an ounce before retreating...
READ MOREThe first shipment of copper-gold concentrate from Alara Resources’ Al Wash-hi Majaza Copper Project is scheduled for 27 May 2024. This shipment marks a significant milestone for Alara’s 51% owned Oman joint venture, Al Hadeetha Resources LLC, initiating revenue generation from the copper-gold mine. In addition, the Omani Ministry of Energy and Minerals has renewed...
READ MOREThe Queensland Government has approved a new copper and gold mine near Cloncurry, expected to create hundreds of construction and mining jobs. Copper production is set to exceed 20,000 tonnes annually following AIC Mines’ acquisition of the mining lease for the Jericho mine. The Jericho development will also enable expanded operations at the nearby Eloise...
READ MORESpeculation is growing that Gold Road Resources may have enlisted Macquarie Capital as a defence adviser, fueling rumors that the company might be in play. This development follows Gold Road’s recent negotiations with Goldman Sachs and Gresham to acquire the Greenstone gold asset in Canada, which ultimately went to joint venture partner Equinox for nearly...
READ MOREFortune Minerals Limited has been awarded a US$6.38 million (~C$8.74 million) grant from the United States Department of Defense under the Defense Production Act Title III program. This funding aims to expand domestic cobalt production for battery and high-strength alloy supply chains, enabling Fortune to advance the NICO cobalt-gold-bismuth-copper project in Canada toward construction. The...
READ MOREGriffin Mining has announced a substantial increase in revenue for 2023, reporting $146.02 million compared to $94.4 million in 2022. The AIM-traded firm’s gross profit rose to $51.84 million from $38.25 million year-on-year, while earnings before depreciation, interest, and tax increased to $51.86 million, up from $35.22 million the previous year. Operating profit saw a...
READ MORETroilus Gold has released the results of a Feasibility Study for its Troilus Project in northcentral Quebec, Canada. The study supports a long-life, large-scale, 50,000 tonnes per day (tpd) open-pit mining operation, marking a significant development in the Quebec and Canadian mining landscapes. The Feasibility Study outlines an open pit mine with a 22-year life,...
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Karora Resources announced its financial and operating results for the first quarter of 2024, highlighting record revenue and strong cash flow. The company reported quarterly revenue of $115.5 million, a 19% increase from the same period in 2023, driven by higher gold sales and favorable gold prices. Operating cash flow for the quarter was $42.6...
READ MOREBarrick Gold Corp announced a strong start to 2024 with adjusted net earnings of $333 million, or 19 cents per share, an increase from the first quarter of the previous year. The company’s focus is now turning to the Fourmile project in Nevada, following the successful commencement of production at the Goldrush mine. Key Highlights...
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Fortuna Silver Mines has announced its financial and operational results for the first quarter of 2024, showing significant financial recovery and operational advancements. Financial Highlights: Operational Highlights: Growth and Development: Return to Shareholders:
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De Grey Mining has launched a substantial $600 million fully underwritten equity raising initiative, set to fully fund the equity component of its ambitious Hemi gold project in the Pilbara. This funding effort is bolstered by an additional $313 million already available in cash reserves. The company has indicated that the equity funding is now...
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The global mining flotation chemicals market is poised for expansion, with an estimated increase of USD 3.00 billion from 2024 to 2028, marking a growth rate of 5.13% annually during the forecast period. The Asia-Pacific (APAC) region is expected to contribute significantly, accounting for 37% of the global market growth. The demand in APAC is...
READ MOREHorizon Minerals has announced a binding Ore Sale Agreement (OSA) with Paddington Gold, a subsidiary of Norton Gold Fields, for the treatment of 1.4 million tonnes of ore from the Boorara Gold Project. This agreement marks a significant step for Horizon as it prepares to resume gold production in the second half of 2024. Under...
READ MORENewmont’s Telfer gold mine in Western Australia could remain shuttered until September due to significant issues with its tailings facilities. This marks the second production suspension at Telfer in less than six months. The complications arise as Newmont seeks to divest the aging mine, along with the nearby Havieron deposit, which is considered a crucial...
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Global gold production surpassed 3000 tons in 2023, with China leading the charge as the world’s largest gold producer. According to the latest data from the United States Geological Survey, China’s gold production reached over 370 tons last year, accounting for more than 12% of the global output. Additionally, the People’s Bank of China significantly...
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