Tag - Mining

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Saturday, October 23 2021

All The Metals We Mined

Metals mined infographic

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Wednesday, April 15 2020

Quebec gold mines deemed essential service, to reopen Wednesday

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.

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Sunday, April 12 2020

The Coming Supply Shock in Mining

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).

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Mine shutdowns due to the virus

303 mines globally have been temporarily shut down due to the virus as of this morning. 180 (59%) are precious metal operations.

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Thursday, November 28 2019

There won't be 'substantial' number of new gold mines

Agnico Eagle Mines CEO Sean Boyd says there won’t be a “substantial” number of gold mines built in the coming years.

“It’s getting much tougher to grow reserves. It’s getting much tougher to grow production,”

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Monday, February 25 2019

Newmont to move forward with Goldcorp purchase, ignoring possible Barrick offer

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.

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Saturday, February 23 2019

Barrick Studied Newmont Mining Bid to Claim Gold Top Spot

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.

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Monday, January 14 2019

Newmont to buy Goldcorp for $10 billion to create world's largest gold producer

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.

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.

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Saturday, December 22 2018

Miami gold refiner declares bankruptcy as feds target industry

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.

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Monday, December 17 2018

SION Trading FZE Secures Precious Metals Contract

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.

SION Trading FZE aims to provide mining companies with higher yields and services exceeding industry standards on miners' sales of precious metals.

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.

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Monday, December 10 2018

South African Gold Industry Enters Final Phase of Slow Death

The nation’s 130-year-old gold industry which has produced half the bullion ever mined on Earth is locked in the final stages of a decades-long death spiral. Most of South Africa’s gold mines are unprofitable at current prices.

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Tuesday, October 23 2018

How the “Lost Mountain of Gold” Was Discovered & Drill Result Update

One hole even hit 36 meters at 12.47 grams per ton gold and that was starting from 5 meters below surface

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Tuesday, September 25 2018

Canada's Barrick Gold to buy Randgold for $6.5 billion in all-stock deal

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.

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.

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Sunday, September 23 2018

Barrick Gold, Randgold Said to Be in Advanced Merger Talks

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.

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Saturday, September 22 2018

Paulson, Burned by Gold Slump, Forms Council to Prod Miners

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.

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.

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Monday, September 17 2018

RNC Minerals does it again with another Beta Hunt gold haul in Kambalda

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.

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.

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Tuesday, July 24 2018

AngloGold Says There's No Escaping Demise of South African Gold

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.

“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.”

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Friday, July 13 2018

Another billionaire says we’re running out of gold

“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.”

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Thursday, June 14 2018

Top 10 Gold Producing Countries

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?

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.

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Monday, June 4 2018

Russia to double gold extraction becoming world's second biggest producer

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.

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.

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