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Metals and Mining Gold Mining

  • CAIRO, May 11- Egypt will announce the results of its gold mining exploration tender next week, Minister of Petroleum Tarek El Molla said on Thursday. Egypt, which is hoping that gold production can be a future source of growth for its struggling economy, began accepting bids in January for five concessions in its first tender for new gold exploration since 2009.

  • SAN JUAN, Argentina, May 8- Barrick Gold Corp failed to complete improvements to the Veladero mine in Argentina that could have prevented the third spill of cyanide solution in 18 months, leading to eventual sanctions for the world's biggest gold miner, a judge told Reuters. "If they had changed pipes as ordered, the decoupling would not have occurred," Oritja told...

  • JOHANNESBURG, May 8- Africa's biggest gold miner AngloGold Ashanti reported a 16 percent drop in first-quarter profit on Monday following a decline in South African production, sending its shares down nearly 5 percent. AngloGold said adjusted earnings before interest, tax, depreciation and amortization came in at $314 million in the first three months of...

  • JOHANNESBURG, May 8- Africa's biggest gold miner AngloGold Ashanti reported a 16 percent drop in quarterly core profit on Monday hit by a weak showing at its South African operations. "South Africa had a difficult production quarter, as an added focus on a safe start-up contributed to an unusually slow ramp-up after the year-end break," AngloGold said in a...

  • TORONTO, May 4- Canada's main stock index fell almost 1 percent on Thursday, weighed down by heavy losses among energy and mining stocks as oil prices plunged and gold and copper prices also fell. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed down 146.44 points, or 0.94 percent, at 15,396.70. The energy group lost 3 percent.

  • TORONTO, May 4- Canada's main stock index slipped in early trade on Thursday, as energy and mining stocks fell sharply with lower prices for oil, gold and industrial metals.

  • TORONTO, April 28- Canada's main stock index rose on Friday as natural resource stocks led a broad rally on a mix of higher commodity prices and positive corporate earnings. Gold miner Agnico Eagle Mines Ltd surged 9.3 percent to C $64.54 after beating profit and revenue estimates and upping its production forecast after the bell on Thursday.

  • BOGOTA, April 27- South Africa's AngloGold Ashanti has halted all exploration work at its La Colosa project in central Tolima, Colombia, after voters backed a proposal to ban mining in the municipality, the company said on Thursday. AngloGold has invested some $900 million in Colombia since 2006 and La Colosa was the largest of its three projects in the country.

  • April 25- Canada's Teck Resources Ltd, North America's largest producer of steelmaking coal, reported lower-than-expected profit due to higher costs, lower production and sales volumes. Unit production costs in the first quarter rose by C $13 to C $56 per tonne from a year ago. Teck, which also mines gold and silver, said adjusted profit attributable to...

  • April 24- Barrick Gold reported weaker-than-expected quarterly earnings on Monday and also slashed its forecast for output and hiked costs at its gold mine in Argentina, where cyanide solution spilled recently for the third time in 18 months. Barrick said it now expects full-year production at Veladero of 630,000 to 730,000 ounces of gold, at all-in...

  • The world's second-biggest gold producer by market value said adjusted earnings in the first quarter increased 4 percent to $133 million, or 25 cents per diluted share, from the same quarter in 2016.. The Greenwood Village, Colorado- based miner, which has mines in the Americas, Africa and Australia left unchanged its gold production forecast for 2017..

  • BUENOS AIRES, April 21- Barrick Gold Corp and its new Chinese partner presented a $500 million plan on Friday to make safety and environmental improvements to the Veladero gold mine in Argentina after a third cyanide spill in 18 months, a company executive said. Argentina told Barrick earlier this month it had to overhaul environmental and operating processes...

  • BUENOS AIRES, April 21- Barrick Gold Corp and its new Chinese partner presented a $500 million plan on Friday to make safety and environmental improvements to the Veladero gold mine in Argentina after the third cyanide spill in 18 months, a company executive said. Argentina told Barrick earlier this month it had to overhaul environmental and operating...

  • *Thousands of "zama zamas" mine gold illegally in South Africa. WESTONARIA, South Africa, April 21- Illegal gold mining has plagued South Africa's mining companies for decades, robbing the industry and state coffers of billions of rand through smalltime pilfering as well as networks run by organised crime. "We will have them out then," Sibanye's Chief Executive Neal...

  • LONDON, April 20- Tanzanian gold producer Acacia Mining will have to review its mining operations if the government's ban on gold and copper ore exports remains in place, a senior executive said on Thursday. Shares in Acacia, which is majority owned by Barrick Gold, briefly touched a six-week low, paring losses by 0900 GMT to trade down 3.7 percent after it said...

  • Stack of Gold Bars, high, raise, rise

    A big gold ETF is being forced to change the way it invests — and may have to sell as much as $2.6 billion of its current holdings.

  • MOSCOW, April 13- Russia, the world's third biggest gold producer, plans to launch a number of new production sites as it aims to grow in gold output. Below are some gold projects, expected to be started in Russia in coming years. Polyus Natalka H2 2017 c.14.

  • *Russia is the world's third biggest gold producer. UST-NERA, Yakutia, Russia, April 13- In winter it gets so cold that metal snaps. As alluvial deposits disappear in other areas, producers are opening mines to help Russia keep its place as the world's third biggest gold producer after China and Australia and ahead of the United States in fourth place.

  • MOSCOW, April 12- China's Fosun International Ltd plans to sign an agreement to buy a stake in Russia's largest gold producer Polyus, Interfax news agency quoted Russian First Deputy Prime Minister Igor Shuvalov as saying on Wednesday. Shuvalov also said that aluminium giant Rusal could soon announce the placement of the second tranche of its Chinese...

  • Panmure Gordon: Quite a bit more upside to go for gold

    Kieron Hodgson, commodity and mining analyst at Panmure Gordon, talks about how much further room gold has to run, especially with currency fluctuations and geopolitical tensions.