Gold Mining


  • Feb 18- Barrick Gold Corp said on Wednesday it will sell its Porgera mine in Papua New Guinea and its Cowal mine in Australia to help reduce net debt by at least $3 billion by year-end, giving investors a long-awaited glimpse into its strategy. Barrick, the world's biggest gold producer, also said it was reducing the size of its Toronto head office by close to half...

  • Feb 18- Barrick Gold Corp said on Wednesday it plans to reduce its net debt by $3 billion by the end of the year through moves that will include selling its Porgera mine in Papua New Guinea and its Cowal mine in Australia. The Toronto- based company reported a net loss in the fourth quarter as it booked $2.8 billion in after-tax impairment charges related mostly to...

  • Feb 18- Barrick Gold Corp on Wednesday reported a net loss in the fourth quarter as it booked $2.8 billion in after-tax impairment charges related mostly to its Lumwana mine in Zambia and its Cerro Casale project in Chile.

  • Sandfire Resources: Cost reduction is key   Wednesday, 18 Feb 2015 | 12:34 AM ET
    Sandfire Resources: Cost reduction is key

    Karl Simich, Managing Director and CEO of Sandfire Resources, says the company is trying to keep production as consistent as possible amid volatile commodity prices.

  • Evolution Mining: Times are good for gold miners   Tuesday, 17 Feb 2015 | 10:42 PM ET
    Evolution mining: Times are good for gold miners

    After reporting record profits, Jake Klein, Executive Chairman of Evolution Mining, describes the advantage gold miners have over their energy and iron ore peers.

  • Rio Tinto CEO: Time to build, not buy Thursday, 12 Feb 2015 | 9:16 AM ET
    A mine worker looks at a train loader at Rio Tinto Group's West Angelas iron ore mine in Pilbara, Australia.

    "Yes we look at build versus buy, ... but right now is not the time to go out and buying distressed assets," Rio Tinto CEO Sam Walsh tells CNBC.

  • MUMBAI/ SINGAPORE, Feb 12- India is likely to remain the world's biggest gold consumer this year after regaining the top spot from China in 2014, driven by robust jewellery demand, the World Gold Council said on Thursday. The industry group forecast gold demand in both India and China to rise to 900-1,000 tonnes in 2015, but said India was likely to retain its edge.

  • Feb 11- Yamana Gold Inc will go ahead with the construction of a mine at its Cerro Moro gold and silver project in Argentina, the Toronto- based gold miner said on Wednesday. All-in sustaining costs, the gold industry's benchmark cost metric, are expected to be between $547 to $557 per ounce of gold and $7.60 to $7.80 per ounce of silver over the life of the mine, Yamana...

  • Feb 10- Kinross Gold Corp will not go ahead with a $1.6 billion expansion of its Tasiast mine in Africa's northwest because of the weak gold price, the Toronto- based miner said on Tuesday, as it also reported an unexpected fourth-quarter loss. Bullion, which was last at $1,233 an ounce, is down 36 percent from its peak of $1,920 an ounce in September 2011.

  • Feb 10- Kinross Gold Corp reported a $1.47 billion fourth-quarter loss on Tuesday, well below analysts' expectations, as the Canadian gold producer took impairment charges and writedowns of more than $1 billion. The adjusted loss was $6 million, or 1 cent a share, down from an adjusted loss of $25.1 million, or 2 cents a share, before. Kinross, which has operations in...

  • Should you write off gold this year? Monday, 9 Feb 2015 | 5:31 PM ET

    Good news for the U.S. economy, in the form of a solid jobs report, decked gold on Friday, leading some analysts to write the yellow metal off for the year.

  • Gold may 'free fall' if it hits this level: Expert Monday, 9 Feb 2015 | 2:33 PM ET

    Although it was up about half a percent on Monday, gold will slip roughly $90 lower than where it sat, a futures expert said.

  • TONGON, Ivory Coast, Feb 5- Randgold Resources Ltd will begin paying dividends from its Tongon mine in Ivory Coast in the third quarter of 2015 as it targets gold production of 260,000 ounces for the year, Chief Executive Mark Bristow said on Thursday. The London- listed company is one of the main gold miners in Ivory Coast, a soft commodities powerhouse that is now...

  • Will gold ever top $1,300 again? Thursday, 29 Jan 2015 | 7:28 PM ET
    Gold coins

    Gold may struggle to top $1,300 an ounce again as tailwinds from central banks on an easing bent have stalled against the Federal Reserve's resolve.

  • PRECIOUS-Gold holds above $1,290 ahead of Fed decision Tuesday, 27 Jan 2015 | 10:38 PM ET

    *Fed may keep status quo, gold seen at $1,270- $1,290- Phillip. SINGAPORE, Jan 28- Gold steadied above $1,290 an ounce on Wednesday, largely clinging to gains from the previous session, as focus turned to whether a weaker global economy may curb the U.S. The Fed will probably stick to the status quo and if that proves to be true then gold should continue to hover between...

  • VANCOUVER/ TORONTO, Jan 21- The New Year's rally in gold stocks offers a respite for the beaten-down sector, but it masks deep-seated problems of bloated debt, weak growth prospects and overvalued assets that will emerge when miners post year-end results in coming weeks. Even if bullion's recent rally persists- it is up 9 percent this year to $1,290 an ounce-...

  • LONDON, Jan 21- Gold climbed above $1,300 an ounce on Wednesday for the first time since August, on increased investor interest due to a softer dollar, worries about the global economy and prospects of stimulus measures from the European Central Bank. Spot gold hit its highest level since Aug. 18 at $1,303.20 an ounce in early trade and was up 0.6 percent at...

  • Miners crash, Glencore at low as copper tumbles Wednesday, 14 Jan 2015 | 11:48 AM ET

    Mining stocks sold off sharply on Wednesday, with Glencore falling to an all-time nadir, after copper plunged to a five-and-a half-year low.

  • *Gold sector holds best opportunities in mining- QKR. Gold shed around a quarter of its value in the last two years after a more than decade-long bull run. "We have never been busier," said David Harquail, chief executive of royalty and streaming company Franco-Nevada.

  • Investors go long gold, short copper in oil freefall Tuesday, 13 Jan 2015 | 10:13 AM ET
    An employee arranges one-kilogram gold bars for a photograph at a Tanaka Kikinzoku Kogyo K.K. store in Tokyo

    Gold has extended gains to climb to its highest level since last October as copper has fallen further below $6,000, beyond five-year lows.