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
Gold prices are expected to average $447 per troy ounce in the first half of 2005, up from the average of $409 per ounce in 2004, according to the GFMS precious metals consultancy. The development of large gold mines in China, such as Sino Gold's Jinfeng mine, is
Mining industry
In a bid to sway Goldcorp shareholders, Glamis Gold Ltd. has released a dissident proxy circular challenging Wheaton River Minerals Ltd.'s financial disclosures and highlighting risks in their earnings. The circular aims to dissuade Goldcorp shareholders from supporting Wheaton River's proposed merger with Goldcorp. The dispute
Mining industry
The global mining industry is abuzz with new discoveries, mergers, and production forecasts, as companies continue to seek out new opportunities to drive growth and increase revenue. In the Dominican Republic, Minmet has announced a new gold discovery, while in the United States, Hecla Mining Company has signed a letter
Mining industry
The gold market opened the new year sluggish, with Comex gold futures struggling to break above the $420 per ounce level. Despite a weak start, market watchers remain optimistic about the prospects for gold in 2005, citing a potential surge in the metal's price due to a weaker
Mining industry
The precious metals market saw significant price fluctuations during the week, with gold experiencing a softer session due to fund liquidation and bullion bank selling, while platinum and palladium continued to trade at a large spread, reaching an all-time high. Meanwhile, other market players, including Newmont Mining and Harmony Gold,
Mining industry
Galaxy Minerals is set to commence production operations at its Yellow Jacket Gold Mine in Arizona, pending the completion of a multi-million dollar financing deal within 45 days. The company estimates that the values at the mine are quite high, with approximately 285,000 ounces of gold at a low
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
Mining industry
Glamis Gold's surprise takeover bid for Goldcorp Inc. has sent Goldcorp's shares soaring 12% on Thursday as investors weigh the potential benefits of the deal. Meanwhile, Goldcorp was actively pursuing a friendly merger with Wheaton River Minerals Ltd. just weeks prior to the takeover bid. The
Mining industry
Gold Fields, a South African mining company, narrowly lost a shareholder vote that would have allowed it to fight off a $6.5 billion hostile takeover bid. Meanwhile, Harmony Gold Mining Co. moved quickly to engage Gold Fields in a link-up that would create the world's biggest gold
Mining industry
Harmony Gold Mining's bid to form the world's biggest gold producer by acquiring Gold Fields Ltd. is uncertain due to a close vote. The proposed combination of Goldcorp Inc. and Wheaton River Minerals Ltd. has resolved issues and brought growth opportunities. Goldcorp and Wheaton River agreed
