HSBC takes stab at using blockchain to modernize London’s antiquated gold market
Mining News Pro - One of the world’s top bullion banks is bringing blockchain to the antiquated London gold market.
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Visit: 103
One big gold seller among central banks has even more to offload
Mining News Pro - In a turnaround that’s already taken it from one of the world’s biggest gold buyers to a top seller this year, Kazakhstan’s central bank is looking to cut the metal’s share to as low as half of its $34.5 billion reserves
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Visit: 79
Trafigura tells its banks they aren’t exposed to nickel fraud
Mining News Pro - Trafigura Group is briefing lenders that none of its banks have direct exposure to the nickel deals at the center of what the commodity trader is calling a systematic fraud perpetrated against it.
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Visit: 168
JPMorgan gold traders found guilty in Chicago spoofing trial
Mining News Pro - The former head of the JPMorgan Chase & Co. precious-metals business and his top gold trader were convicted in Chicago on charges they manipulated markets for years, handing the US government a win in its long crackdown on bogus “spoofing” orders.
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Visit: 320
MinRes takes on flagship Swift Access technology
Mining News Pro - Mineral Resources (MinRes) will be the first mining company to trial Swift Media’s new entertainment and communications product, Swift Access.
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Visit: 1238
Salt Lake launches A$28m capital raise
Mining News Pro - Potash developer Salt Lake Potash will raise A$28-million through a share placement to enable the final debt drawdown and access to additional funding through a bank guarantee provided by financier Sequoia Economic Infrastructure Income Fund (SEQI).
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Visit: 856
Artemis selects banks for $360m Blackwater project loan
Mining News Pro - Artemis Gold has selected two banks to arrange a C$360-million project loan facility to fund a significant portion of the estimated construction costs of its Blackwater project, in central British Columbia.
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Visit: 505
Zimbabwe miners say foreign-exchange rule could trigger crisis
Mining News Pro - Mining companies in Zimbabwe said a central-bank requirement compelling them to surrender more foreign exchange earned from mineral exports will push their operations to the brink.
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Visit: 841
Zimbabwe central bank to form new gold refining unit, sell shares to miners
Mining News Pro - Zimbabwe`s central bank will unbundle its gold refining and printing unit into two separate companies and sell a majority stake in the new gold refinery business to miners, governor John Mangudya said on Wednesday.
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Visit: 1033
Chief executive of Bank Mellat;
Nicico is the pride of Iran’s economy
Mining News Pro - CEO of Bank Mellat said that Nicico is one of their important, major and effective customers.
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Visit: 1667
Banks don’t want to lend to Australia’s coal miners any more
Mining News Pro - Financing options open to Australia’s coal operators dwindled further after another of the country’s largest banks said it would end almost all investment in thermal mines and power stations by 2030.
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Visit: 945
Gold-buying by central banks seen climbing from near decade low
Mining News Pro - Gold buying by central banks, an important driver of bullion’s advance in recent years, is forecast to pick up in 2021 after a slowdown this year.
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Visit: 1071
Parsian Bank to support market activist and knowledge-based companies
Mining News Pro - The research director of Parsian Bank said that their company will supply facilities for activists.
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Visit: 1625
Scotiabank compliance failed to stop gold spoofing, US says
Mining News Pro - Bank of Nova Scotia’s compliance officers failed to stop its precious metals traders from manipulating markets despite having information about the activity, according to the US government.
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Visit: 1282
Banks arranging $325m for Horizonte’s Brazil nickel project
Mining News Pro - Horizonte Minerals announced on Wednesday that it has executed a mandate to arrange a senior secured project finance facility of up to $325 million to fund the construction and development of its flagship Araguaia nickel project in Para state in Brazil.
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Visit: 1084
Horizonte tasks five banks to arrange $325m for Araguaia
Mining News Pro - Horizonte Minerals has executed a mandate to arrange a senior project finance facility of up to $325-million to fund the construction and development of its Araguaia ferronickel project, in Brazil.
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Visit: 1084
Tanzanian hand-miner becomes millionaire with tanzanite find
Mining News Pro - A Tanzanian hand-miner became an instant millionaire after selling the two of the largest tanzanite gems ever discovered to the government.
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Visit: 1432
Land Bank raising R3bn liquidity facility
Mining News Pro - The State-owned Land and Agricultural Development Bank of South Africa announced in an update on liquidity that it would be raising R3-billion and restructuring its debt.
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Visit: 1365
TymeBank set to hit two-million-customer milestone ahead of schedule
Mining News Pro - Fully-digital retail finance house TymeBank is poised to achieve its two-million-customer milestone three months ahead of schedule, African Rainbow Capital (ARC), its majority shareholder, stated on Friday.
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Visit: 1219
Federal Bank`s Q4 PBT declines 32% over provisions for Covid-19 pandemic
Mining News Pro - The bank`s provision coverage ratio improved to 72.48 per cent at end of March 2020, up from 67.16 per cent in March 2019.
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Visit: 1195
Scotiabank takes $168 million hit as it shuts historic gold unit
Mining News Pro - Bank of Nova Scotia has set aside C$232 million ($168 million) to cover the cost of winding down its historic precious-metals unit as well as a potential settlement of U.S. investigations into the unit’s trading activities.
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Visit: 1335
Central banks indicate they will continue to buy gold, some more than usual
Mining News Pro - The World Gold Council (WGC) in its latest `Central Bank Gold Reserves (CBGR)` survey highlights several notable shifts in central bank attitudes towards gold this year.
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Visit: 1191
Lawmakers urge punishment for banks that won’t back drillers
Mining News Pro - Three dozen lawmakers are pushing the Trump administration to get tough on banks and asset managers that restrict financing for oil drilling and coal mining, arguing they are “discriminating against America’s energy sector” and it “must be confronted.”
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Visit: 1369
HSBC reveals it was caught out as lockdowns snarled gold market
Mining News Pro - HSBC Holdings Plc, one of the largest players in the gold market, was caught out in March as lockdowns disrupted physical shipments of bullion and caused prices to diverge dramatically in key trading hubs.
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Visit: 1342
Gold to reach $3,000 - 50% above its record, Bank of America says
Mining News Pro - Bank of America Corp. raised its 18-month gold-price target to $3,000 an ounce — more than 50% above the existing price record — in a report titled “The Fed can’t print gold.”
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Visit: 1383