Artemis selects banks for $360m Blackwater project loan

Mining News Pro - Artemis Gold has selected two banks to arrange a C$360-million project loan facility to fund a significant portion of the estimated construction costs of its Blackwater project, in central British Columbia.

Zimbabwe miners say foreign-exchange rule could trigger crisis

Mining News Pro - Mining companies in Zimbabwe said a central-bank requirement compelling them to surrender more foreign exchange earned from mineral exports will push their operations to the brink.

Zimbabwe central bank to form new gold refining unit, sell shares to miners

Mining News Pro - Zimbabwe`s central bank will unbundle its gold refining and printing unit into two separate companies and sell a majority stake in the new gold refinery business to miners, governor John Mangudya said on Wednesday.

Chief executive of Bank Mellat;

Nicico is the pride of Iran’s economy

Mining News Pro - CEO of Bank Mellat said that Nicico is one of their important, major and effective customers.

Banks don’t want to lend to Australia’s coal miners any more

Mining News Pro - Financing options open to Australia’s coal operators dwindled further after another of the country’s largest banks said it would end almost all investment in thermal mines and power stations by 2030.

Gold-buying by central banks seen climbing from near decade low

Mining News Pro - Gold buying by central banks, an important driver of bullion’s advance in recent years, is forecast to pick up in 2021 after a slowdown this year.

Parsian Bank to support market activist and knowledge-based companies

Mining News Pro - The research director of Parsian Bank said that their company will supply facilities for activists.

Scotiabank compliance failed to stop gold spoofing, US says

Mining News Pro - Bank of Nova Scotia’s compliance officers failed to stop its precious metals traders from manipulating markets despite having information about the activity, according to the US government.

Banks arranging $325m for Horizonte’s Brazil nickel project

Mining News Pro - Horizonte Minerals announced on Wednesday that it has executed a mandate to arrange a senior secured project finance facility of up to $325 million to fund the construction and development of its flagship Araguaia nickel project in Para state in Brazil.

Horizonte tasks five banks to arrange $325m for Araguaia

Mining News Pro - Horizonte Minerals has executed a mandate to arrange a senior project finance facility of up to $325-million to fund the construction and development of its Araguaia ferronickel project, in Brazil.

Tanzanian hand-miner becomes millionaire with tanzanite find

Mining News Pro - A Tanzanian hand-miner became an instant millionaire after selling the two of the largest tanzanite gems ever discovered to the government.

Land Bank raising R3bn liquidity facility

Mining News Pro - The State-owned Land and Agricultural Development Bank of South Africa announced in an update on liquidity that it would be raising R3-billion and restructuring its debt.

TymeBank set to hit two-million-customer milestone ahead of schedule

Mining News Pro - Fully-digital retail finance house TymeBank is poised to achieve its two-million-customer milestone three months ahead of schedule, African Rainbow Capital (ARC), its majority shareholder, stated on Friday.

Federal Bank`s Q4 PBT declines 32% over provisions for Covid-19 pandemic

Mining News Pro - The bank`s provision coverage ratio improved to 72.48 per cent at end of March 2020, up from 67.16 per cent in March 2019.

Scotiabank takes $168 million hit as it shuts historic gold unit

Mining News Pro - Bank of Nova Scotia has set aside C$232 million ($168 million) to cover the cost of winding down its historic precious-metals unit as well as a potential settlement of U.S. investigations into the unit’s trading activities.

Central banks indicate they will continue to buy gold, some more than usual

Mining News Pro - The World Gold Council (WGC) in its latest `Central Bank Gold Reserves (CBGR)` survey highlights several notable shifts in central bank attitudes towards gold this year.

Lawmakers urge punishment for banks that won’t back drillers

Mining News Pro - Three dozen lawmakers are pushing the Trump administration to get tough on banks and asset managers that restrict financing for oil drilling and coal mining, arguing they are “discriminating against America’s energy sector” and it “must be confronted.”

HSBC reveals it was caught out as lockdowns snarled gold market

Mining News Pro - HSBC Holdings Plc, one of the largest players in the gold market, was caught out in March as lockdowns disrupted physical shipments of bullion and caused prices to diverge dramatically in key trading hubs.

Gold to reach $3,000 - 50% above its record, Bank of America says

Mining News Pro - Bank of America Corp. raised its 18-month gold-price target to $3,000 an ounce — more than 50% above the existing price record — in a report titled “The Fed can’t print gold.”

Nervous bankers leave the gold market stuck in disconnect

Mining News Pro - Gold has rarely been a hotter trade, but the world’s two most important markets remain out of sync. In New York, the price of gold topped $1,750 for the first time in seven years on April 9. In London, it still hasn’t caught up.

Russian central bank turns attention to banks hit by slower gold exports

Mining News Pro - Russia’s central bank is considering how to help the country’s commercial banks with gold storage after complications with bullion exports because of the coronavirus crisis.

Central bank gold purchases decline 52% y/y in February

Mining News Pro - The latest data from the World Gold Council (WGC) shows that central banks’ monthly net gold purchases increased in both January and February, following December’s five-month low.

Global official gold reserves represent 17% of world’s stock

Mining News Pro - Around the world, central banks and supranational organizations – such as the International Monetary Fund and the Bank of International Settlements – currently hold nearly 34,000 tonnes of gold as reserve assets, the World Gold Council reported in a market primer on Thursday.

Canada’s economic heartland shuts down in effort to slow virus

Mining News Pro - Canada’s economic heartland is shutting down as Ontario and Quebec step up efforts to slow down the coronavirus outbreak.

Central banks search for answers to virus impact

Mining News Pro - Global central bankers enter a new week under fresh pressure to outline the next steps in their battle to address the impact of the coronavirus outbreak.

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