GOLD NEWS

Gold output to rise in June quarter, but costs up too for Harmony

Wednesday , 01 Jul 2009
Harmony Gold sees its Q4 gold production up 3%, but anticipates operating cost increases of 8%

Hochschild ups Gold Resource stake to 23.9%

Wednesday , 01 Jul 2009
Hochschild Mining has exercised an option to buy 5 million more shares in Gold Resource Corp. The latter will use part of the proceeds to complete construction of its El Aguilar gold project.

Newmont takes over Australia's awakening gold giant

Friday , 26 Jun 2009
Newmont Mining Corporation and AngloGold Ashanti today confirmed that Newmont had taken full ownership of the massive Boddington gold project in Western Australia.

Gold Fields aiming for 1 million ounces a quarter

Friday , 26 Jun 2009
With June quarter gold output expected to reach 905,000 ounces, up 3% on previous forecasts, the company aims to reach between 950,000 and 1 million gold ounces a quarter within 12 months

Banro to start construction on DRC gold mine following successful capital raising

Friday , 26 Jun 2009
Banro has completed its previously announced capital raising and says it will use the bulk of the proceeds to start construction at its Twangiza gold project in the DRC

China should buy gold as falling dollar hedge - China CP research

Thursday , 25 Jun 2009
A senior China Communist Party researcher fears for future of dollar and says the country should buy gold, natural resources, U.S. Land and wants IMF's SDR reformed to give yuan a 20 percent share.

Pamodzi Gold liquidator under fire but is there a bigger offer for Orkney gold mine?

Wednesday , 24 Jun 2009
Unions blame liquidator for withdrawal of Simmers offer for Orkney gold mine, but is there a bigger player waiting in the wings?

Lion Selection puts all its gold eggs in one basket

Wednesday , 24 Jun 2009
Melbourne-based investment company Lion Selection has come to an agreement with aspiring Western Australian gold miner Catalpa Resources that, if approved by shareholders in both camps, will see the emergence of a new mid-tier Australian gold miner.

Big drill intersection at Cove gold project in Nevada

Tuesday , 23 Jun 2009
A very positive drill result at Victoria Gold's Helen Zone of the Cove gold project caused the company's stock price to climb on a day when stocks in general fell back sharply.

Far more than Alaska gold may rely on Supreme Court's Kensington decision

Tuesday , 23 Jun 2009
The nation's highest court has ruled Coeur can finally ramp up tailings disposal at its critically important Kensington gold project in Alaska. But, long term, the decision may have ramifications impacting environmental permitting of U.S. hardrock mining in general.

Gold slips to $920 as dollar pares its losses

Monday , 22 Jun 2009
The gold price slipped to below $920 on a stronger dollar, but with the global economy still seen as very weak its safe haven position is seen as remaining intact.

IMF gold sales clearance welcomed by World Gold Council

Monday , 22 Jun 2009
The U.S. Congress' passage of a bill which would effectively allow the IMF to sell 403.3 tonnes of gold has been welcomed by the World Gold Council which feels the sale will have no impact on the global gold market

Late spurt in Indian wedding season gold demand

Friday , 19 Jun 2009
A last minute spurt has been seen in demand for gold in India, the world's No.1 consumer, as the wedding season draws to a close.

Obama Administration pushes IMF gold sales through House by tieing it to security bill

Friday , 19 Jun 2009
The U.S. House of Representatives has passed a bill which included an expanded credit facility for the IMF and effective U.S. approval for the proposed IMF sale of 400 tons of gold.

Peter Hambro Mining rates dividend resumption a high priority

Friday , 19 Jun 2009
Peter Hambro, chairman of the LSE quoted Russian gold miner which bears his name, says that resumption of dividend payments is a "high priority of the board".

Iamgold's 2009 gold output prediction rises

Thursday , 18 Jun 2009
Iamgold sees 2009 gold production of 910,000 to 920,000 ounces, up from 880,000 previously through increased productivity at Rosebel and life extension at Doyon. Cash costs are put at $460 and $470 per ounce

Yamana gold exploration promises increased resources

Wednesday , 17 Jun 2009
Positive drilling data from some of its key exploration projects has Yamana promising increased gold resource estimates at some of its sites.

Speculation rife that Lihir Gold may give Ballarat to the morticians

Wednesday , 17 Jun 2009
Major gold miner Lihir Gold Ltd acquired the Ballarat Goldfields for $A350 million ($US279 M) on the basis the deal could see Lihir matching Newcrest as Australia's premier domestically-owned gold producer. Now, media speculation is that the expensive and under-performing Ballarat re-development may be shut down.

New gold reserve discovery remains well below the industry's ongoing needs

Tuesday , 16 Jun 2009
In a recently released study, Canada's Metals Economics group shows that the major gold miners are not replacing resources through new exploration, but rather through acquisition, expansion and upgrading of existing or already known operations.

Gold miner Agnico Eagle triples credit facility

Tuesday , 16 Jun 2009
Agnico Eagle has organised a new $600 million revolving credit facility which will give it more liquidity for expansion opportunities

Iamgold increases Essakane probable gold mine reserves to 3.37 Moz

Tuesday , 16 Jun 2009
Canada's Iamgold is making good progress to bringing its Essakane gold mine in Burkina Faso to production with first output expected in August next year.

Centerra Gold's Mongolian gold mine license suspended

Friday , 12 Jun 2009
Centerra's Boroo gold mine operating licenses have been suspended for up 3 months because of alleged issues with its operation and if the issues are not resolved the licenses could be revoked.

Yamana to sell ‘non-core' gold mines for $200m to improve ‘bottom line'

Wednesday , 10 Jun 2009
Yamana Gold is selling three of its higher-cost gold mines in Honduras and Brazil to Aura Minerals for cash, shares, and royalties.

Failed gold miner moves into the nickel business

Tuesday , 09 Jun 2009
Croesus Mining, its major shareholder in millionaire prospector Mark Creasy and emerging gold miner Apex Minerals have pooled their nickel assets to create a new Western Australian nickel float.

Dr Copper is back in town

Monday , 08 Jun 2009
Following heavy selling of listed gold and silver stocks over the past week, among mining subsectors, listed copper miners can claim leading stock price performance over the past 12 months.