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Metals and Mining Gold Mining

  • LONDON, June 15- Gold prices drifted down on Friday on profit-taking after the dollar hit a seven-month peak, but got support from investors skittish about prospects of a trade war and a correction in equity markets. "The dollar has been waking up to some renewed strength and that's largely been held onto today," said Jonathan Butler, commodities analyst at...

  • BAMAKO, June 11- Rioters in southern Mali ransacked local government buildings on Monday following a dispute between workers and management at Randgold's Loulo and Gounkoto gold mines, the government said. A spokeswoman for Randgold, which owns three gold mines in Mali, did not immediately respond to a request for comment. Mali is Africa's third-largest gold...

  • Federal Reserve policy meeting and a summit between the United States and North Korea. *Spot gold was steady at $1,296.60 per ounce at 0052 GMT. *Leaders of the Group of Seven rich nations headed for a summit in Canada on Thursday more divided than at any time in the group's 42- year history, as U.S.

  • MOSCOW, June 7- Russian gold miner Polyus said on Thursday it planned to make a final investment decision on Sukhoi Log, one of the world's largest untapped gold deposits, by 2020-2021, when it would also begin capital spending on construction. The company said it expected construction capex to be in the range of $2 billion to $2.5 billion. Around $30 million will...

  • NEW YORK, June 6- Outflows of North American gold-backed exchange traded funds rose in May, as volatility in the gold market dragged prices lower, the World Gold Council said on Wednesday. The ETFs lost nearly 30 tonnes worth $1.2 billion, compared with inflows of 43.7 tonnes worth $1.9 billion in April, as the dollar in which gold is priced rose and prospects of...

  • up@ June 6- The Perth Mint's sales of gold products fell about 2.4 percent in May from a month earlier, the lowest in over a year, while silver sales rose about 21 percent, the mint said on Wednesday. "Demand overall remains very weak, except in South Africa where demand has been very strong for Krugerrands...," said Cameron Alexander, an analyst with metals consultancy GFMS,...

  • June 6- The Perth Mint's sales of gold products fell about 2.4 percent in May from a month earlier, the lowest in over a year, while silver sales rose about 21 percent, the mint said on Wednesday. Sales of gold coins and minted bars fell to 14,800 ounces in May from 15,161 ounces in April, it said in a blog post on its website. The Perth Mint refines more than 90 percent of the...

  • *Spot gold targets low of $1,281.76/ oz- technicals. BENGALURU, June 5- Gold prices were steady on Tuesday, after falling for three days, as investors opted for riskier assets amid increasing prospects of an interest rate hike in the United States following strong U.S. economic data. It is more interesting for equities and people are making profit there, so nobody...

  • DAR ES SALAAM, June 1- Tanzania will issue large-scale mining licenses only after cabinet approval, a senior official said on Friday, part of new measures aimed at further tightening control of the industry. Tanzania, Africa's fourth-largest gold producer, is seeking a bigger return from its vast mineral resources by overhauling the fiscal and regulatory...

  • DAR ES SALAAM, June 1- Tanzania will issue large-scale mining licenses only after cabinet approval, a senior official said on Friday, part of new measures aimed at further tightening control of the industry. Tanzania, Africa's fourth-largest gold producer, is seeking a bigger return from its vast mineral resources by overhauling the fiscal and regulatory...

  • DAR ES SALAAM, June 1- Tanzania will issue large-scale mining licences only after cabinet approval, a senior official said on Friday, part of new measures aimed at further tightening control of the industry. Tanzania, Africa's fourth-largest gold producer, is seeking a bigger return from its vast mineral resources by overhauling the fiscal and regulatory...

  • DAR ES SALAAM, June 1- Tanzania will issue large-scale mining licences only after cabinet approval, a senior official said on Friday, part of new measures aimed at further tightening control of the industry. Tanzania, Africa's fourth-largest gold producer, is seeking a bigger return from its vast mineral resources by overhauling the fiscal and regulatory...

  • TORONTO/ VANCOUVER, June 1- U.S. hedge fund Paulson& Co, led by long-time gold bull John Paulson, is set to name a group of investors that will work together to try to drive changes and better returns from gold mining companies after years of dismal industry performance, according to people familiar with the situation. The Shareholders Gold Council, expected to be...

  • The two companies jointly own the Coimolache mining company in Peru, and are both junior partners in large mines in Peru controlled by U.S.-based companies. Buenaventura believes it is well-positioned to help develop the copper project because it already operates a large open-pit gold mine in the same northern Andean region where Southern will develop...

  • ACCRA, May 30- Gold mining giants in Ghana such as Newmont, Gold Fields and AngloGold Ashanti welcome new government tests to certify the value of their exports, the main industry association said on Wednesday. Ghana is Africa's second biggest gold producer after South Africa and the metal is the country's top export and its leading earner of foreign exchange.

  • *Might seek junior partner to help finance Chile project. *South Deep mine in South Africa' improving slowly'. LIMA, May 30- South Africa's Gold Fields is setting aside pursuit of new acquisitions for a year as it focuses on its existing operations and nearby prospects instead, the bullion producer's chief executive told Reuters late on Tuesday.

  • MOSCOW, May 30- Polyus, Russia's largest gold producer, on Wednesday reported first-quarter net profit down 51 percent at $244 million, hit by reduced foreign exchange gains and other non-cash items. The company controlled by Said Kerimov, son of Russian tycoon Suleiman Kerimov, has not been targeted by the U.S. sanctions against Moscow. Washington included...

  • MOSCOW, May 30- Polyus, Russia's largest gold producer, on Wednesday reported first-quarter net profit of $244 million, down 51 percent year on year because of non-cash items.

  • AngloGold employs roughly 8,200 people in South Africa, where mining companies have had to deal with the risk of volatile labour relations, rising costs, regulatory disruptions and technical issues. AngloGold closed a mine in South Africa and sold two others in the country to local rival Harmony and China's Heaven-Sent SA Sunshine last year.

  • LONDON, May 18- Pavel Maslovskiy, one of the founders of Petropavlovsk, hopes to return as CEO later this year in the latest twist in a long-running battle for control at the Russian gold miner. Maslovskiy stepped down last year after a shareholder revolt ousted another co-founder, British businessman Peter Hambro. But the company's shareholder base has since...