GOLD NEWS

OVERALL SA FATALITIES DECLINE 22%

Gold Fields has worst South African mine fatality rate so far this year

Thursday , 03 Jul 2008
Deaths in South African mine fell from 109 at this time last year to 85 fatalities this year.
A$1.67B COST

Newcrest completes gold hedgebook closeout

Thursday , 03 Jul 2008
Newcrest Mining announced Thursday it has completed its 4-million-plus ounce gold hedgebook closeout this year as originally planned.
SERIES OF PROTESTS PLANNED

South African NUM miners will strike on August 6th

Wednesday , 02 Jul 2008
The NUM said it would hold a series of protests in South Africa's nine provinces, starting on July 9 to July 23, culminating in the national strike by its members.
MEASURES ALREADY IN FORCE

Ghana gold miners negotiate over 100 percent power price increase

Wednesday , 02 Jul 2008
The Ghanaian mining sector, dominated by gold operations, is facing a 100 percent increase in the cost of power which it is reported as saying will put jobs on the line.
GOLD TREMENDOUSLY UNDERVALUED

New record gold price highs by end of year expected - Blanchard

Tuesday , 01 Jul 2008
Investors are shifting out of equities and into tangible assets to protect wealth as equities markets continue to decline.
MORE THAN LAST YEAR

European Central Bank gold sales programme complete for this agreement year

Tuesday , 01 Jul 2008
The ECB has announced it has completed its sales of gold during the current sales agreement year, but overall it has sold 20% more metal this year than last.
WGC STUDY

Austrian Central Bank reduces gold sales programme

Monday , 30 Jun 2008
The World Gold Council says it expects Austria to continue selling small amounts of gold over the remainder of the second Central Bank Gold Agreement.
PRODUCTION COSTS RISING SHARPLY

Gold Fields CEO reckons gold price will rise to $1,200 by June 2009

Monday , 30 Jun 2008
Gold Fields CEO Nick Holland expects the gold price to rise to $1,200 by June 2009, but says production costs are also rising fast.
STRIKE STARTED MIDNIGHT SUNDAY

Strike to paralyse Peru's gold, silver and base metals mines

Monday , 30 Jun 2008
Peruvian miners are set to shut down the county's mining industry and blockade roads to bring pressure on the government to approve a law eliminating limits on profit sharing.
INFLATON FEARS

Gold price shows strength as oil hits record high

Saturday , 28 Jun 2008
With the oil price at record highs and a weak dollr, gold ventured back to the $930 mark before easing a little before the weekend. $935.30 seen as upward chart resistance point.
$318 MILLION BID

China National Gold wins rights to country's largest gold concession

Friday , 27 Jun 2008
In a two-day tender, China National Gold outbid Zijin Mining, Shandong Gold Mining and Zhaojin Mining Industry Co. for exploration rights for what is believed to be China's largest gold deposit
2 MINERS DEAD

Gold Fields ordered to halt Kloof mine operations

Thursday , 26 Jun 2008
Gold Fields was ordered to stop mining at the Kloof mine by the Department of Minerals and Energy after two miners were killed shortly after the mine achieved 1 million fatality free shifts.
PRODUCTION DECISION NOT YET MADE

Gold Fields says Ghana production intact despite illegal miners

Tuesday , 24 Jun 2008
Gold Fields says its Damang operations have not been “materially affected” by the presence of thousands of illegal miners on a remote lease area of this mine.
VENEZUELA IS ‘TAKING CONTROL’

Venezuelan minister bans mining in Imataca Forest Reserve

Monday , 23 Jun 2008
Venezuela’s environmental minister says state is taking control in order to “save and appropriate what is ours.”
RUSORO WILLING TO DISCUSS JV

Hecla says adios to Venezuela as Rusoro agrees to buy La Camorra gold unit

Friday , 20 Jun 2008
Through its decision to buy Hecla’s Venezuelan assets, Rusoro Mining hopes to mine 220,000 ounces of gold this year from its Venezuelan operations.
LOWER COURT DECISION ANTICIPATED

Challenges to Kumtor gold mine main deposit license could be heard this week

Thursday , 19 Jun 2008
Following the Kyrgyz court decision to suspend some of Centerra’s Kumtor gold mine licenses, a further pending decision on the company’s main licenses could cause it to have to cease mining the high grade deposit altogether.
POTENTIAL LIFE EXPANSION

Great Basin increases Hollister gold resource to 2.3 million ounces

Thursday , 19 Jun 2008
Great Basin Gold announced today that its mineral resource at the company’s Hollister project on the Carlin Trend in Nevada has been upgraded and expanded by underground drilling to rise by 60%.
TRY, TRY, TRY AGAIN

Crystallex files second appeal over right to mine its 17 million ounce Las Cristinas gold deposit

Wednesday , 18 Jun 2008
In the long running Crystallex saga, the company has said it will launch another appeal to attempt to reverse the denial of mining rights for its Las Cristinas deposit in Venezuela.
BUBBLE COULD BURST

Is gold too low compared with oil – or is it that oil is just too high?

Wednesday , 18 Jun 2008
With oil costs reaching potentially unsustainable levels, the gold market has to be prepared for a reaction to a possible puncturing of the oil price bubble.
GOVERNMENT TO CHALLENGE COURT DECISION

Kyrgyz court strips Centerra of big Kumtor gold mine licenses

Wednesday , 18 Jun 2008
In an internal political clash, a Kyrgyz court has stripped Centerra of its licenses to develop the big Kumtor gold deposit. The government, which is supportive of Centerra, will appeal the court decision.
TIEN SHAN GOLD BELT

Chaarat scoping study defines gold project progress

Tuesday , 17 Jun 2008
Chaarat Gold Holdings has announced the results of a scoping study by independent consultants, Behre Dolbear, which is the next step towards bringing this Kyrgyz gold project to production.
PUNITIVE ANTI-MINING MEASURE STRUCK DOWN

Alaska Supreme Court will hear remaining anti-Pebble ballot measure today

Monday , 16 Jun 2008
Oral arguments are scheduled today on the second of two ballot initiatives aimed at stopping the massive Pebble copper-gold mine.
SIGNS OF LIFE

India - gold demand beginning to pick up as prices fall

Thursday , 12 Jun 2008
The falling price of gold already seems to be having an impact in the vitally important Indian gold market.
31.7M M&I RESOURCE UPDATE

NovaGold, Barrick select preferred design for Donlin Creek gold project

Wednesday , 11 Jun 2008
The elimination of a power line in favor of diesel and wind power cogeneration may make one of North America’s largest gold mining projects, Alaska’s Donlin Creek, more financially feasible.
LOW ENERGY USAGE

Great Basin says gold price to boost Hollister margin despite inflation

Tuesday , 10 Jun 2008
Great Basin Gold says its Hollister project's low energy dependency means the company will not see a dramatic rise in costs, but instead achieve higher margins at its project in Nevada. CEO Ferdi Dippenaar feels it is interesting times for M&A activity.
LOSSES EXTENDED

Gold price falls back again as dollar strengthens and oil dips

Tuesday , 10 Jun 2008
The possibility of a US interest rate increase added some strength back into the dollar and gold fell back, but perhaps still not enough to stimulate purchases by Eastern jewellery manufacturers.
POLYUS GOLD HITS THE ROAD

Polyus Gold faces week of disclosures

Monday , 09 Jun 2008
Prokhorov and Ivanov on roadshow as shareholder conflict threatens price correction.
INVESTOR HUB: Gold

   

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RUSSIA’S RICHEST MAN FACES LONDON TRIAL

Rusal’s Oleg Deripaska loses battle to stay out of the High Court

Thursday , 03 Jul 2008
High Court’s Lord Clarke grants Mikhail Chernoy UK jurisdiction to pursue his share of Rusal.
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