Wagner-linked gold miner in Sudan halts operations over conflict

Mining News Pro - A Sudanese gold mining company linked to the Russian mercenary Wagner Group has suspended operations because of conflict in the North African nation.

Gold price at highest in over two weeks ahead of Powell remarks

Mining News Pro - Gold inched higher on Wednesday, reaching its highest in over two weeks, as both the US dollar and Treasury yields retreated ahead of Federal Reserve Chair Jerome Powell’s upcoming speech.

Russia becomes UAE’s top gold source after being shut out of west

Mining News Pro - Russia became the United Arab Emirates’ top source of gold last year after Western countries imposed sanctions on supplies following the Kremlin’s invasion of Ukraine.

Ex-JPMorgan gold trader sentenced to six months in ‘spoof’ case

Mining News Pro - A former JPMorgan Chase & Co. gold trader was ordered to serve six months behind bars for a fraud conviction tied to deceptive orders, the last criminal penalty imposed in a years-long spoofing saga at the bank.

Former Yamana Gold head Peter Marrone turns his eye to Africa

Mining News Pro - Peter Marrone, former Yamana Gold Inc. executive chairman, is back at the helm of a Canadian precious-metals producer after putting $30-million of his own money into Africa-focused Allied Gold Corp.

Gold trading hasn’t been this boring since the pandemic began

Mining News Pro - Gold markets haven’t been this calm since the onset of the Covid-19 pandemic, thanks to a deadlock between buyers and sellers that’s showing no signs of breaking.

Harmony Gold weighs CEO succession amid tilt to copper

Mining News Pro - Harmony Gold Mining boss Peter Steenkamp plans to retire at the end of next year as South Africa’s biggest gold producer by volume seeks new growth opportunities mining copper.

Strike at Mexico gold mine costs Newmont $3.7 million a day

Mining News Pro - The operator of Mexico’s largest gold mine says it is losing millions of dollars a day on a strike that has dragged on for months.

Miners hope to keep ‘gold shining’ in Mali despite ownership law

Mining News Pro - Some of Mali’s top gold producers said a new law to allow the military-led government to increase its ownership of mines should not apply to existing operations, but analysts said it was likely to deter future investment.

Investors say they’ll stick with gold as Fed cycle nears end

Mining News Pro - Gold isn’t losing its allure, according to a dozen money managers who all told Bloomberg News they expect to maintain or raise their exposure to the precious metal in the coming 12 months.

Miners hope to keep ‘gold shining’ in Mali despite ownership law

Mining News Pro - Some of Mali’s top gold producers said a new law to allow the military-led government to increase its ownership of mines should not apply to existing operations, but analysts said it was likely to deter future investment.

Anglogold Ashanti shareholders approve South Africa exit

Mining News Pro - Anglogold Ashanti shareholders on Friday voted in favour of the miner’s plans to switch its primary listing from Johannesburg to New York, the company announced, clearing the way for its exit from South Africa.

Anglogold Ashanti shareholders approve South Africa exit

Mining News Pro - Anglogold Ashanti shareholders on Friday voted in favour of the miner’s plans to switch its primary listing from Johannesburg to New York, the company announced, clearing the way for its exit from South Africa.

Gold Fields says new Chile mine on track as profit dips

Mining News Pro - Gold Fields said on Thursday it was on track to start producing gold at its Salares Norte project in Chile in the fourth quarter of this year, after reporting lower half-year profit on higher costs.

China’s gold prices rising higher than rest of world due to import curbs

Mining News Pro - China’s gold price is rising against levels in London, a trend that local traders say is due to government curbs on imports of the precious metal.

Westgold turns to green power

Mining News Pro - Westgold Resources has commenced operation of four new hybrid power facilities to power its Western Australian operations.

New Gold halts New Afton mine on tailings safety woes

Mining News Pro - Shares in New Gold fell more than 9% in Toronto on Thursday after it said it had halted underground mining activities at its New Afton gold-copper mine in Kamloops, British Columbia, following an inspection.

Barrick beats quarterly profit estimates on higher gold prices

Mining News Pro - Barrick Gold Corp beat analysts’ expectations for second-quarter profit on Tuesday, as the Canadian gold miner benefited from higher prices of the precious metal.

Sumitomo Metal lifts FY profit forecast on higher gold prices

Mining News Pro - Sumitomo Metal Mining reported a 73% drop in first-quarter profit on Monday, but lifted its full-year profit outlook by 26% thanks to stronger-than-expected gold prices and one-off gains from a weaker yen.

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

JPMorgan sees gold price charging to records in 2024 as Fed cuts rates

Mining News Pro - JPMorgan Chase & Co. sees an opportunity in gold ahead of a likely US recession, predicting prices will push past $2,000 an ounce by year-end and hit fresh records in 2024 as interest rates start to fall.

Gold price firms with spotlight on central bank meetings

Mining News Pro - Gold prices bounced back on Tuesday on a weaker dollar and expectations that the US Federal Reserve will likely end its monetary tightening cycle after a widely expected rate hike this week.

Ecuador, SolGold seal deal to launch nearly $5bn mining project

Mining News Pro - Ecuador’s government concluded negotiations with Australian miner SolGold to develop a major mine seen requiring a $4.9 billion investment over the lifetime of the project, the energy and mines ministry announced in a statement on Thursday.

Dead EV batteries turn to gold with US incentives

Mining News Pro - A little-publicized clause in the US Inflation Reduction Act has companies scrambling to recycle electric vehicle batteries in North America, putting the region at the forefront of a global race to undermine China’s dominance of the field.

Mali gold mining revenue rose by 35% in 2022

Mining News Pro - State revenue from gold mining companies in Mali rose 35% year on year in 2022 to a record 763.7 billion CFA francs ($1.3 billion) due to increased tax revenues, a mines ministry official said on Wednesday.

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