Evolution Mining drags Aussie gold peers down after downgrade

Mining News Pro - Shares in Australian gold producer Evolution Mining (ASX: EVN) cratered on Monday after it downgraded its forecast gold production for the year to June 30 and shelved a multi-million dollar expansion.

Swiss gold refiners say they didn’t import mystery Russian metal

Mining News Pro - The industry association for Switzerland’s gold refiners said its members didn’t import gold from Russia last month, raising questions about who bought the country’s precious metals.

Copper price rises as looming strike in Chile adds to supply worries

Mining News Pro - The copper price rose on Tuesday on concerns about an expected strike in top producer Chile.

Bitcoin miners help US oil producers cut flaring

Mining News Pro - US oil producers are turning to an unexpected source to help solve the environmental problem of excess natural gas — cryptocurrency miners.

High-flying tin price takes a tumble as tightness eases

Mining News Pro - The price of tin has crashed over the last few days.

UN experts want better gold data as trade fuels Congo violence

Mining News Pro - Governments need to improve and make public their gold trade data to help stem smuggling and violence around mines in eastern Democratic Republic of Congo, the United Nations independent group of experts on Congo said in their annual report Friday.

Wealth shock delays gold bull market as Goldman revises targets

Mining News Pro - Gold has been hit by a large “wealth shock” on the back of a weaker yuan following the economic impact of the lockdowns in China, the world’s largest consumer, according to Goldman Sachs Group Inc., which revised its price targets. Still, the worst may be over, it added.

Gold’s floor price is getting higher, top producer Newmont says

Mining News Pro - The head of the biggest gold producer isn’t about to join bullion bugs in predicting a price rally. But Tom Palmer does see a higher floor forming under the market as years of stimulus devolve into a fight to contain inflation.

Kinross Gold sells Russian assets at half the agreed price

Mining News Pro - Kinross Gold said on Wednesday it had sold its Kupol mine and Udinsk project in Russia to Highland Gold Mining for a total of $340 million in cash, half of the price announced in April.

Iron ore price down ahead of China’s central bank rate announcement

Mining News Pro - Iron ore prices fell on Tuesday as fresh covid-19 outbreaks in China clouded demand prospects in the world’s top steel producer.

Team up or get left behind, top gold miner warns smaller peers

Mining News Pro - The gold mining industry will need more mergers and partnerships to dig up harder-to-access deposits in an environmentally friendly way, according to the head of the world’s biggest producer.

South African trade unions sign wage deal with Sibanye

Mining News Pro - Two South African trade unions have signed a three-year wage agreement with miner Sibanye Stillwater on June 11, one of the unions said on Sunday, removing the last hurdle to restarting operations at its gold mines in the country.

In Bolivia’s Amazon, wildcat gold mining boom stokes tension over environment

Mining News Pro - In Bolivia’s Amazon tensions are rising over a boom in wildcat gold mining that is driving a surge in imports of mercury used to extract the precious metal and is sparking conflict between small-scale prospectors and local indigenous groups.

Iron ore price down on new China lockdown worries

Mining News Pro - The iron ore price fell on Friday on renewed concerns over demand in China, where fresh covid-19 alerts threaten to derail the economy’s reopening and steel margins have come under pressure.

Gold Fields investor tells miner to scrap Yamana deal

Mining News Pro - A top-10 investor in South Africa’s Gold Fields on Friday urged the miner to cancel its planned takeover of Canada-based Yamana Gold, saying the $6.7 billion transaction was expensive and did not guarantee growth and profitability.

Gold price wanes in run-up to US inflation data release

Mining News Pro - Gold prices retreated on Thursday as elevated Treasury yields and a firm dollar dimmed its appeal in the run-up to the latest US inflation data, which could strengthen the Federal Reserve’s case for aggressive policy tightening.

Central banks to increase gold holdings over crisis concerns

Mining News Pro - Central banks see gold as a reserve asset and will likely increase their holdings of the metal in the next twelve months, according to a survey by the World Gold Council.

Iron ore price slips as Chinese steelmakers face margin pressure

Mining News Pro - The iron ore price fell on Wednesday as reduced profitability at Chinese steel mills following a recent rally in prices of steelmaking ingredients weighed on sentiment.

Newmont sells 3,500 oz of gold to Ghana under local purchasing plan

Mining News Pro - Newmont’s Africa unit has sold 3,500 ounces of gold to the Bank of Ghana under a central bank domestic gold purchasing program launched in June 2021, the company said in a statement on Tuesday.

Jane Street follows Elliott in suing LME over nickel trades

Mining News Pro - Wall Street trading powerhouse Jane Street is seeking around $15 million in damages from the London Metal Exchange over its decision in March to cancel nickel trades after an unprecedented short squeeze.

Iron ore price sees biggest weekly gain since March on China demand optimism

Mining News Pro - The iron ore price topped up its biggest weekly gain in 13 weeks as traders tracked China’s moves to rein in covid-19 restrictions that have weighed on steel demand this quarter.

British Columbia, Tahltan sign consent agreement on mine permitting

Mining News Pro - The Tahltan Central Government and the Province of British announced Monday they have entered into the first consent based decision-making agreement under the Declaration on the Rights of Indigenous Peoples Act (Declaration Act).

Toronto Exchange to launch battery metals index

Mining News Pro - Canada’s Toronto Stock Exchange will launch on Tuesday a battery metals index to support the critical minerals sector and offer insights into the energy transition.

Hedge fund Elliott sues LME for $456m over nickel trading halt

Mining News Pro - US hedge fund Elliott Associates is suing the London Metal Exchange (LME) for $456 million for cancelling nickel trades after chaotic trading in March that forced the exchange to suspend its nickel market, the LME said on Monday.

Gold’s haven appeal burnished by drumbeat of growth warnings

Mining News Pro - Gold could be heading for another rally, with warnings over a global economic slowdown paving the way for a fresh push toward $2,000 an ounce.

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