Mining industry
Newmont Mining Corp., one of the world's top gold producers, saw its second-quarter profit soar 35% as higher gold prices offset a decline in base metal revenue and volume. The company's earnings from continuing operations exceeded analysts' estimates, reaching $84 million, or 19 cents a
Mining industry
Mineral production has become a key driver of economic growth in Peru, with several new mines opening in recent years. In May, the Energy and Mines Ministry reported varying output levels across different minerals. Gold production saw a 6.1% increase to 14,204 kilograms, while copper production rose 7.
Mining industry
Bancorp International, a high-growth, diversified mining company operating in Venezuela, has announced that it believes its current stock price undervalues the company's significant gold and diamond assets. With an established formal relationship with the Venezuelan Federal Government, Bancorp International plans to leverage this partnership to drive business growth.
Mining industry
Amid record-high copper prices, unionized workers at Placer Dome's Zaldivar copper mine in northern Chile have taken a positive strike vote after a two-year contract expired on June 26. The mine, with a workforce of about 700 employees and 560 contractors, produced 325 million pounds of copper in
Mining industry
Central banks have been steadily reducing their gold holdings for nearly four decades, a trend that shows no signs of reversing. Since 1965, the world's central banks and financial institutions have sold almost one-fifth of their official gold reserves, reducing their total holdings to about 31,400. This
Mining industry
The global gold market is experiencing significant activity, with several mergers and acquisitions, new exploration projects, and changes in gold reserves. Anglo American PLC is considering a new gold project, while Barrick Gold Corp. reassures Chilean legislators about its Pascua-Lama project's environmental impact. The Competition Tribunal in South
Mining industry
In March, Peru's Energy and Mines Ministry reported a mix of increases and decreases in mineral production. Gold output surged by 2.6% to 14,172 kilograms, while copper production fell by 3.5% to 85,771 tons. The stronger gold production was attributed to increases at Minera
Mining industry
The Dow Jones Commodities News reports a jump in gold prices is providing a slight boost to mining stocks, which have suffered a dismal month. Weakness in the dollar versus the yen is thought to be behind the gold surge, but some traders attribute it to short-covering at the end
Mining industry
Amidst a boom in gold production, Papua New Guinea's Lihir Gold Ltd. has retained its forecast for 2005 gold production, despite a slight decrease in first-quarter output. Meanwhile, Australian companies Sino Gold Ltd. and Harmony Gold Mining Co. Ltd. have reported declines in their gold output. Analysts are
Mining industry
Australia's gold mining sector has experienced a mix of performance in recent quarters, with Sino Gold Ltd. reporting a decrease in production at its Jianchaling mine in China, while Oxiana Ltd. saw an increase in gold output at its Sepon operation in Laos. Additionally, Freeport-McMoRan Copper & Gold
Mining industry
Goldcorp Inc.'s unsolicited bid for Wheaton River Minerals Ltd. has been extended, allowing shareholders to tender their common shares until February 14, 2005. The bid, conditional on Goldcorp shareholder approval, aims to create the world's lowest-cost, million-ounce gold producer. Wheaton River's board recommends that
Mining industry
As the new year begins, gold prices are expected to see a mixed outlook for the first quarter of 2005. Barclays Capital predicts an average price of $415 per troy ounce during this period, with the low at $350/oz and the high at $470/oz. Meanwhile, the Bundesbank has
