Gold price swings as traders await Fed’s decision on interest rates
Gold swung between small gains and losses, with traders assessing an increasingly uncertain outlook for Federal Reserve interest-rate cuts.
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Visit: 33
Hundreds march against Ghana’s damaging informal gold mining boom
Hundreds of people marched through Ghana’s capital Accra on Friday in a peaceful protest against unlicensed gold mining, calling on authorities to act against the dangerous and environmentally damaging practice.
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Visit: 41
Festive hopes fade for India’s gold industry after price surge
A rebound in gold prices to a record peak has dashed the Indian bullion industry’s expectations of a lucrative festival season after their hopes were boosted by a deep cut in import duty two months ago to the lowest in a decade.
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Visit: 39
Ghana unions cancel strike over illegal gold mining after talks
Ghanaian unions have called off a strike after the government promised to take measures to clean up Africa’s biggest gold producer’s small-scale mining sector.
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Visit: 40
US rules on conflict minerals have not reduced violence in Congo
A US congressional watchdog has found no evidence that a 2012 Securities and Exchange Commission (SEC) conflict minerals disclosure rule has reduced violence in Democratic Republic of Congo, it said in a report on Monday.
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Visit: 41
Ghana’s wildcat gold mining booms, poisoning people and nature
At an unlicensed gold mine in Ghana, men in t-shirts, shorts and rubber boots wade through pools of muddy water laced with mercury, pull out rocks with bare hands and operate a rickety sluice as they search for the precious ore.
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Visit: 35
Fortuna Mining says Burkina Faso will not withdraw existing mining permits
Fortuna Mining said on Monday that the government of Burkina Faso does not plan to withdraw the Canadian company’s existing mining permits in the country.
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Visit: 45
First gold bar from Myhree
Black Cat Syndicate is celebrating the first gold doré from its Myhree open pit, part of the Kal East gold project in Western Australia.
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Visit: 58
Southern Cross Gold expands Vic footprint
Southern Cross Gold (SXG) has made a series of key land acquisitions on properties directly surrounding its prospective Sunday Creek gold-antimony project in Victoria.
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Visit: 48
Tanzania to pay market prices to miners ordered to sell gold to central bank
Tanzania’s central bank said it will buy gold at market prices from mining firms and traders who were ordered last week to sell it at least 20% of the gold they hold to help diversify its reserves.
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Visit: 67
Uganda sets up state-owned firm to take stakes in mining operations
Uganda has formed a state-owned mining company to manage the government’s equity interests in mining operations, its minister for energy and mineral development, Ruth Nankabirwa, said.
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Visit: 58
Iamgold closer to buying back 9.7% stake in Côté gold mine
Canada’s Iamgold is a step closer to buying back the 9.7% interest in its Côté Gold mine in Ontario from Sumitomo Metal Mining, having issued a 60-day formal notice to exercise its right to repurchase it.
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Visit: 48
Gold price rally cripples physical demand in key markets
Physical demand for gold across key markets has tumbled as prices continue to rise, with some retail consumers opting to sell their holdings and book the profit, industry players and analysts said.
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Visit: 67
Eros Resources to merge with Canadian mining rivals
Canadian small-scale gold miner Eros Resources would merge with rivals MAS Gold and Rockridge Resources to develop copper and gold projects in the province of Saskatchewan, the companies said on Tuesday.
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Visit: 56
Ghana to launch ‘monster mines’ to boost gold production
Africa’s top gold producer Ghana will commission its first large-scale greenfield mine in more than a decade in November, with expected annual production of more than 350,000 ounces, the head of its mining sector regulator told Reuters.
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Visit: 53
Mali junta arrests four employees of Barrick Gold
Mali’s military-led authorities have arrested four employees of Canadian miner Barrick Gold, two sources said on Friday. All four are senior Malian employees, one of the sources said.
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Visit: 50
Filo shareholders approve acquisition by BHP
Shareholders of Filo Corp. have given their approval for the proposed acquisition by BHP Group and Lundin Mining, taking what would be one of the biggest deals in the mining sector this year closer to the finish line.
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Visit: 56
Money managers’ bullish bets on gold jump to four-year high
Money managers’ bullish wagers on gold jumped to the highest in more than four years as the precious metal registered successive highs after Federal Reserve’s first interest-rate cut since 2020.
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Visit: 47
China stimulus, mighty gold puts silver on a streak, but not without risk
Silver prices have bubbled up to their highest in over a decade on the back of bullion’s stellar bull run and China’s stimulus measures, although some analysts expect the rally to fade as industrial sector demand remains a concern.
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Visit: 51
Gold investors see gains in rate-cut era from ETFs, haven buying
A months-long surge that has seen gold break successive records is drawing in more followers, as interest in physically backed exchange-traded funds gathers pace and more buyers seek to hedge against macroeconomic and geopolitical uncertainties.
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Visit: 65
Gold-rich Sudan talks mining with Russia as war alliances shift
Gold-rich Sudan discussed boosting cooperation in the mining sector with Russia, as Moscow strengthens ties with the North African nation’s military-led government amid a 17-month civil war.
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Visit: 76
Goldman says gold may dip if Fed opts for quarter-point cut
Gold may face a minor, near-term setback if the Federal Reserve opts for just a 25-basis-point cut this week, but the metal will subsequently rally to a record aided by rising flows into bullion-backed exchange-traded funds, according to Goldman Sachs Group Inc.
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Visit: 85
Goldman Sachs cuts Q4 iron ore price forecast by $15/t on supply glut
Goldman Sachs on Monday cut its iron ore price forecast for the fourth quarter of 2024 by $15, to $85 per metric ton, citing market oversupply even though demand from top consumer China is stabilizing.
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Visit: 79
Zimbabwe to tackle gold smuggling by boosting mine surveillance
Zimbabwe plans to tackle rampant gold smuggling by increasing surveillance at mining sites, Mines Minister Winston Chitando said Monday.
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Visit: 79
Brazil says it has nearly cleared gold miners from Amazon Yanomami reservation
Brazil has almost squashed the illegal gold rush that led thousands of wildcat miners into the Yanomami reservation in the Amazon rainforest and caused a humanitarian crisis of disease and malnutrition, the man in charge of operations said.
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Visit: 65