GCRU Gold News - Tag - MiningGold news and charts2023-12-19T22:38:54-05:00Nick Lairdurn:md5:d1c3fcaead82a5d226e9d006444ef80cDotclearAll The Metals We Minedurn:md5:5bb531454303a396fae4037e078571a92021-10-23T02:05:00+01:002021-10-23T02:05:00+01:00GCRU Gold NewsMining<p>Metals mined infographic</p> <p><a href="https://elements.visualcapitalist.com/wp-content/uploads/2021/09/all-of-the-metals-one-visualization.html" hreflang="en" title="All The Metals We Mined">All The Metals We Mined</a></p>Quebec gold mines deemed essential service, to reopen Wednesdayurn:md5:8e2ceb109946b3c3c5f14dfe826fc8d82020-04-15T01:10:00+01:002020-04-15T01:10:00+01:00GCRU Gold NewsMining<p>Mining companies with operations in Quebec are wasting no time jumping back into action after the provincial government announced Monday night that mining is now considered an essential service and operations can restart Wednesday.</p> <p><a href="https://www.kitco.com/news/2020-04-14/Quebec-gold-mines-deemed-essential-service-to-reopen-Wednesday.html" hreflang="en" title="Quebec gold mines deemed essential service, to reopen Wednesday">Quebec gold mines deemed essential service, to reopen Wednesday</a></p>The Coming Supply Shock in Miningurn:md5:dc720473b5b0ff8f7d6baae3bada1dd42020-04-12T03:21:00+01:002020-04-12T03:21:00+01:00GCRU Gold NewsMining<p>Over 500 Gold, Silver, Copper, Iron, Coal and Uranium mining, development and exploration assets across the globe have ceased or scaled back production (meaning operating stockpiles and with limited workforce).</p> <p><a href="https://katusaresearch.com/the-coming-supply-shock-in-mining/" hreflang="en" title="The Coming Supply Shock in Mining">The Coming Supply Shock in Mining</a></p>Mine shutdowns due to the virusurn:md5:ec8cde38192101f379d3d17be0c581432020-04-12T03:17:00+01:002020-04-12T03:17:00+01:00GCRU Gold NewsMining<p>303 mines globally have been temporarily shut down due to the virus as of this morning. 180 (59%) are precious metal operations.</p> <p><a href="https://twitter.com/MarinKatusa/status/1248366900129583105" hreflang="en" title="Mine shutdowns due to the virus">Mine shutdowns due to the virus</a></p>
<p><img src="http://www.goldchartsrus.com/images/chartsdump/EVSOHl6U0AA2R-J.gif" alt="" /></p>There won't be 'substantial' number of new gold minesurn:md5:56c3bdc62a4a21262eb7601c6ec8e9d72019-11-28T00:04:00+00:002019-11-28T00:04:23+00:00GCRU Gold NewsMining<p>Agnico Eagle Mines CEO Sean Boyd says there won’t be a “substantial” number of gold mines built in the coming years.</p>
<p>“It’s getting much tougher to grow reserves. It’s getting much tougher to grow production,”</p> <p><a href="https://www.cnbc.com/2019/11/27/agnico-eagle-ceo-there-wont-be-substantial-number-of-new-gold-mines.html" hreflang="en" title="There won't be 'substantial' number of new gold mines">There won't be 'substantial' number of new gold mines</a></p>Newmont to move forward with Goldcorp purchase, ignoring possible Barrick offerurn:md5:47f7b1624649cd5a9b885a293b04978e2019-02-25T00:35:00+00:002019-02-25T00:35:45+00:00GCRU Gold NewsMining<p>Colorado-based Newmont Mining Corp. announced on Friday that its $10 billion deal to purchase Vancouver-based Goldcorp Inc. is moving forward after the latter obtained an interim plan of arrangement, throwing cold water on the idea that Newmont is interested in a merger with Barrick Gold Corp.</p> <p><a href="https://business.financialpost.com/commodities/newmont-to-move-forward-with-goldcorp-purchase-ignoring-possible-barrick-offer" hreflang="en" title="Newmont to move forward with Goldcorp purchase, ignoring possible Barrick offer">Newmont to move forward with Goldcorp purchase, ignoring possible Barrick offer</a></p>
<p>Price wars for cheap in the ground ounces as they (like Central Banks) expect higher prices coming....</p>Barrick Studied Newmont Mining Bid to Claim Gold Top Spoturn:md5:04d3b2e1a120b9b156fba6d7afe63c532019-02-23T01:11:00+00:002019-02-23T01:11:42+00:00GCRU Gold NewsMining<p>Barrick Gold Corp., the world’s second-largest gold producer, has considered a bid for Newmont Mining Corp. in what could be the biggest-ever industry merger and propel the Canadian miner to the No.1 spot globally.</p> <p><a href="https://www.bloomberg.com/news/articles/2019-02-22/barrick-gold-is-said-to-have-studied-offer-for-newmont-mining-jsfhehgz" hreflang="en" title="Barrick Studied Newmont Mining Bid to Claim Gold Top Spot">Barrick Studied Newmont Mining Bid to Claim Gold Top Spot</a></p>Newmont to buy Goldcorp for $10 billion to create world's largest gold producerurn:md5:e98a87e0c15497c5740fa44c35f8d1672019-01-14T12:34:00+00:002019-01-14T12:34:57+00:00GCRU Gold NewsMining<p>Newmont Mining Corp said on Monday that it would buy smaller rival Goldcorp Inc in a deal valued at $10 billion, creating the world’s biggest gold producer by output.</p>
<p>The deal is the second high-profile merger in the mining industry since Barrick Gold Corp agreed to buy Randgold Resources Ltd in September last year to cut costs.</p> <p><a href="https://www.reuters.com/article/us-goldcorp-m-a-newmont-mining/newmont-to-buy-goldcorp-in-10-billion-deal-to-create-worlds-largest-gold-producer-idUSKCN1P80UM" hreflang="en" title="Newmont to buy Goldcorp for $10 billion to create world's largest gold producer">Newmont to buy Goldcorp for $10 billion to create world's largest gold producer</a></p>Miami gold refiner declares bankruptcy as feds target industryurn:md5:62c669fa50d2d26da97f7e46d8dda9fd2018-12-22T01:52:00+00:002018-12-22T01:52:47+00:00GCRU Gold NewsMining<p>Republic Metals, the South Florida-based gold refiner that is one of the nation’s largest, has filed for bankruptcy, a further sign of trouble for the U.S. precious metals industry, which has been targeted by federal prosecutors investigating “blood gold” for more than two years.</p> <p><a href="https://www.miamiherald.com/news/business/article223213905.html" hreflang="en" title="Miami gold refiner declares bankruptcy as feds target industry">Miami gold refiner declares bankruptcy as feds target industry</a></p>SION Trading FZE Secures Precious Metals Contracturn:md5:01f49df8b16e55f7071575f28cd064662018-12-17T23:51:00+00:002018-12-17T23:51:29+00:00GCRU Gold NewsMining<p>SION Trading FZE (SION) is pleased to announce it has signed an agreement with Don David Gold Mexico SA de CV (DDGM), a 100% owned subsidiary of Gold Resource Corporation (NYSE American: GORO), to purchase precious metal dore produced from the miner's Oaxaca Mining Unit.</p>
<p>SION Trading FZE aims to provide mining companies with higher yields and services exceeding industry standards on miners' sales of precious metals.</p>
<p>SION is also the precious metals procurement agent for Arbitrade Ltd. SION plans to allocate the procurement of its precious metals, including those purchased from DDGM, to further enhance Arbitrade's existing gold assets.</p> <p><a href="https://www.prlog.org/12745384-sion-trading-fze-secures-precious-metals-contract.html" hreflang="en" title="SION Trading FZE Secures Precious Metals Contract">SION Trading FZE Secures Precious Metals Contract</a></p>South African Gold Industry Enters Final Phase of Slow Deathurn:md5:95ad543de2b4f526886570c10a3ef8fa2018-12-10T03:04:00+00:002018-12-10T03:04:41+00:00GCRU Gold NewsMining<p>The nation’s 130-year-old gold industry <del> which has produced half the bullion ever mined on Earth </del> is locked in the final stages of a decades-long death spiral. Most of South Africa’s gold mines are unprofitable at current prices.</p> <p><a href="https://www.bloomberg.com/news/articles/2018-12-09/south-african-gold-industry-enters-final-phase-of-slow-death" hreflang="en" title="South African Gold Industry Enters Final Phase of Slow Death">South African Gold Industry Enters Final Phase of Slow Death</a></p>How the “Lost Mountain of Gold” Was Discovered & Drill Result Updateurn:md5:f7c412778fb05f7fe0fefedace5fb4c22018-10-23T00:29:00+01:002018-10-23T00:29:00+01:00GCRU Gold NewsMining<p>One hole even hit 36 meters at 12.47 grams per ton gold and that was starting from 5 meters below surface</p> <p><a href="http://www.miningstockeducation.com/2018/10/javier-orduna-how-the-lost-mountain-of-gold-was-discovered-drill-result-update/" hreflang="en" title="How the “Lost Mountain of Gold” Was Discovered & Drill Result Update ">How the “Lost Mountain of Gold” Was Discovered & Drill Result Update </a></p>Canada's Barrick Gold to buy Randgold for $6.5 billion in all-stock dealurn:md5:403ecf54fc61812ae6893d3b4b1dc3082018-09-25T00:31:00+01:002018-09-25T00:31:00+01:00GCRU Gold NewsMining<p>Canada’s Barrick Gold Corp has agreed to buy Randgold Resources Ltd in an all-stock deal valuing the Africa-focused miner at $6.5 billion, to create the world’s largest gold producer in an industry under investor pressure to put capital to good use.</p>
<p>The new Barrick company, which will be listed in New York and Toronto, will own five of the world’s 10 lowest cost gold mines and have market value of $19.4 billion based on Monday trading. That would make it the world’s biggest gold miner by market capitalization, overtaking Newmont Mining Corp, according to Reuters calculations.</p> <p><a href="https://www.reuters.com/article/us-randgold-rsrcs-m-a-barrickgold/canadas-barrick-gold-to-buy-randgold-resources-in-18-3-billion-deal-idUSKCN1M40NU" hreflang="en" title="Canada's Barrick Gold to buy Randgold for $6.5 billion in all-stock deal">Canada's Barrick Gold to buy Randgold for $6.5 billion in all-stock deal</a></p>Barrick Gold, Randgold Said to Be in Advanced Merger Talksurn:md5:8419e31adb283095e6fea209212482c72018-09-23T23:45:00+01:002018-09-23T23:45:00+01:00GCRU Gold NewsMining<p>Barrick Gold Corp. is said to be in advanced negotiations to merge its operations with Africa-focused rival Randgold Resources Ltd., protecting the Toronto-based miner’s crown as the world’s largest producer of the metal.</p> <p><a href="https://www.bloomberg.com/news/articles/2018-09-23/barrick-gold-randgold-in-advanced-stages-of-merger-talks" hreflang="en" title="Barrick Gold, Randgold Said to Be in Advanced Merger Talks">Barrick Gold, Randgold Said to Be in Advanced Merger Talks</a></p>Paulson, Burned by Gold Slump, Forms Council to Prod Minersurn:md5:69274137a9d89f9cd6f7abdb223fd1752018-09-22T00:19:00+01:002018-09-22T00:19:00+01:00GCRU Gold NewsMining<p>After almost a year of behind-the-scenes work, billionaire hedge-fund manager John Paulson has formed a coalition with 15 other investors aimed at curbing years of what his fund has called value destruction in the gold sector.</p>
<p>The group intends to ensure the management and boards of mining companies are aligned with shareholder interests, he said. The group will meet periodically to address a number of issues and will be funded by members.</p> <p><a href="https://www.bloomberg.com/news/articles/2018-09-21/paulson-joined-by-15-investors-in-council-to-oversee-gold-miners" hreflang="en" title="Paulson, Burned by Gold Slump, Forms Council to Prod Miners">Paulson, Burned by Gold Slump, Forms Council to Prod Miners</a></p>RNC Minerals does it again with another Beta Hunt gold haul in Kambaldaurn:md5:de8f57c0f67c1fb86929f6d62850e98a2018-09-17T04:35:00+01:002018-09-17T04:35:00+01:00GCRU Gold NewsMining<p>The Kambalda mine that produced more than $15 million worth of spectacular gold specimens a fortnight ago from a single deep cut 500m underground has turned out another precious stone after development restarted after the announcement.</p>
<p>A specimen stone weighing 43kg and estimated to contain 1100 ounces of gold, valued at about $1.8 million, was recovered after work resumed underground at the Beta Hunt gold mine.</p> <p>The stone, along with another piece weighing 7kg and containing 190oz, will be taken to the Perth Mint and added to a haul that included what was believed to be two of the biggest gold specimens discovered.</p>
<p>The find, including 95kg and 63kg specimens containing 2440oz and 1620oz of gold respectively, put a rocket under the previously ailing RNC Minerals’ share price in Canada and halted an almost-completed sale process for the 45-year-old mining operation.</p>
<p><a href="https://thewest.com.au/business/mining/rnc-minerals-does-it-again-with-another-beta-hunt-gold-haul-in-kambalda-ng-b88962431z" hreflang="en" title="RNC Minerals does it again with another Beta Hunt gold haul in Kambalda">RNC Minerals does it again with another Beta Hunt gold haul in Kambalda</a></p>AngloGold Says There's No Escaping Demise of South African Goldurn:md5:30b4c13b2cd1555e276ca3946fb70a952018-07-24T01:48:00+01:002018-07-24T01:48:00+01:00GCRU Gold NewsMining<p>South Africa’s gold mines are the world’s deepest and among the most labor intensive. The country’s gold production dropped 16 percent in May from a year earlier, falling for an eighth straight month, as aging infrastructure, depleted reserves and accidents raise costs and curb output.</p>
<p>“Gold is a sunset industry,” Pityana said in an interview last week in Bloomberg’s Johannesburg office. “It doesn’t matter what you do, it doesn’t matter how you do it, you are not going to be able to change that.”</p> <p><a href="https://www.bloomberg.com/news/articles/2018-07-23/anglogold-says-there-s-no-escaping-demise-of-south-african-gold" hreflang="en" title="AngloGold Says There's No Escaping Demise of South African Gold">AngloGold Says There's No Escaping Demise of South African Gold</a></p>Another billionaire says we’re running out of goldurn:md5:a3b8827f8cb65f06cc890ef4b756b4b72018-07-13T04:47:00+01:002018-07-13T04:47:00+01:00GCRU Gold NewsMining<p>“If I could give one sentence about the gold mining business … it’s that in my life, gold produced from mines has gone up pretty steadily for 40 years. Well, either this year it starts to go down, or next year it starts to go down, or it’s already going down… We’re right at peak gold here.”</p> <p><a href="https://www.sovereignman.com/investing/another-billionaire-says-were-running-out-of-gold-23958/" hreflang="en" title="Another billionaire says we’re running out of gold">Another billionaire says we’re running out of gold</a></p>Top 10 Gold Producing Countriesurn:md5:5c632fa55d6a3bdab3839b0d7466a89f2018-06-14T02:12:00+01:002018-06-14T02:12:00+01:00GCRU Gold NewsMining<p>Gold is one of the rarest elements in the world, making up roughly 0.003 parts per million of the earth’s crust. But how much gold is the world digging up each year and what countries produce the most?</p>
<p>In 2017, global gold mine production was a reported 3,247 tonnes. This figure is down 5 tonnes from the previous year and marks the first annual drop since 2008, according to the GFMS Gold Survey 2018. The driving forces behind the drop in output were environmental concerns, crackdowns on illegal mining operations and rising costs.</p> <p><a href="http://www.usfunds.com/investor-library/frank-talk/top-10-gold-producing-countries/" hreflang="en" title="Top 10 Gold Producing Countries">Top 10 Gold Producing Countries</a></p>Russia to double gold extraction becoming world's second biggest producerurn:md5:7dbd1caa6cf0fc2361cc8ce6355521c92018-06-04T00:08:00+01:002018-06-04T00:08:00+01:00GCRU Gold NewsMining<p>Major Russian gold mining companies are planning to almost double production. The increase could make Russia the world's second largest producer of the precious metal.</p>
<p>The country is currently third in the global rating of gold miners after Australia and China. However, that could change in less than a decade, according to Mikhail Leskov, deputy CEO at the Moscow-based Institute of Geotechnology, as quoted by Vedomosti.</p> <p><a href="https://www.rt.com/business/428571-russia-gold-production-double/" hreflang="en" title="Russia to double gold extraction becoming world's second biggest producer">Russia to double gold extraction becoming world's second biggest producer</a></p>