Gold price touches new 2-year low after parade of rate hikes

Mining News Pro - Gold continued its recent struggles on Friday to set a new two-year low after a slew of central banks followed the US Federal Reserve in raising interest rates to cool inflation.

Gold price drops to lowest in two years on Fed rate hike bets

Mining News Pro - Gold plunged to its lowest since April 2020 on Thursday amid expectations of more aggressive interest rate hikes by the Federal Reserve despite a fresh round of mixed data on the US economy.

Marathon Gold raises $114m to fund Valentine mine construction

Mining News Pro - Marathon Gold has entered an agreement with a syndicate of underwriters led by Canaccord Genuity to purchase, on a bought deal basis, approximately 136.4 million units of the company priced at C$1.10 per unit for gross proceeds of C$150 million ($114m). The underwriters also have an option to buy additional units for up to C$22.5 million.

Equinox Gold resumes operations at Los Filos

Mining News Pro - Canada’s Equinox Gold has resumed operations at its Los Filos mine in Mexico, which were halted last week as the result of a blockade by members of the nearby Mezcala community.

Gold price slides as hotter US inflation keeps hawkish Fed on track

Mining News Pro - Gold fell the most in almost a month after US inflation data came in hotter than expected, maintaining pressure on the Federal Reserve to keep aggressively raising rates.

Greatland unveils A$340m funding solution for Havieron

Mining News Pro - Greatland Gold has secured up to A$340-million in new funding for the development of the Havieron gold project, including up to A$120-million in funding from Wyloo Metals.

Rio2 appeals rejection of EIA for Chile gold project

Mining News Pro - Canada’s Rio2’s is appealing the rejection of the environmental impact assessment (EIA) for its Fenix gold project in Chile’s northern Maricunga region, arguing the dismissal is not consistent with the environmental assessment process that took place over the past two years.

Gold Fields bolsters Chile presence with investment in Torq Resources

Mining News Pro - Torq Resources has welcomed Gold Fields as its new strategic investor after announcing a C$15 million private placement with a wholly owned affiliate of the NYSE-listed miner. The companies have also entered into an investment agreement that entitles Gold Fields to a pre-emptive right to maintain its stake in Torq.

Centerra Gold searches for new CEO

Mining News Pro - Canada’s Centerra Gold said on Tuesday it had named director Paul Wright as interim president and chief executive to replace Scott Perry, without providing reasons for the sudden change at the top.

O3 Mining completes PFS for Marban Engineering gold project with increased production profile

Mining News Pro - O3 Mining (TSXV: OIII) has completed a pre-feasibility study (PFS) for its 100% owned Marban Engineering gold project, demonstrating its potential to become the next gold producer in the mining region of Val-d’Or, Quebec.

Gold price falls to six-week low as dollar rallies on sour sentiment

Mining News Pro - Gold fell to a six-week low as the dollar strengthened after US reports pointed to a resilient US economy.

Barrick Gold to sell royalty portfolio to Maverix Metals for $60 million

Mining News Pro - Barrick Gold announced Thursday that it has entered into an agreement to sell a portfolio of royalties to Maverix Metals (TSX: MMX) for total consideration of up to $60 million.

Gold price pares gains as traders weigh US data, Fed rate hike path

Mining News Pro - Gold pared early gains after the latest data pointed to a mixed US economy, while traders await a key speech by Federal Reserve Chair Jerome Powell for clues on monetary tightening.

Gold Fields sees progress in winning investors over to Yamana deal

Mining News Pro - Gold Fields is making “encouraging progress” in winning shareholders over to its $6.7 billion all-share purchase of Canada’s Yamana Gold, CEO Chris Griffith said on Thursday.

Blockade at Zijin’s Colombia gold mine is lifted

Mining News Pro - Road blockades set up by community members around Zijin Mining’s Colombia gold mine were lifted, a government official said on Sunday, after more than a week of protests which hit the Chinese company’s production.

Peruvian Institute of Economy reports decrease in mining private investments

Mining News Pro - A recent report by the Peruvian Institute of Economy states that the country’s mining sector has seen a ‘concerning’ decrease in private investments.

Colombia’s new president threatens to blow up illegal mining operations

Mining News Pro - Colombia’s new leftist president Gustavo Petro said that the armed forces will dynamite every dredge that is being used across the country to mine gold illegally.

Independence Gold updates resource with better grades

Mining News Pro - Independence Gold has updated the inferred resource estimate for its 100% owned 3Ts project in British Columbia to 4.5 million tonnes at 3.64 g/t gold and 96.26 g/t silver, containing 522,330 oz. of gold and 13.8 million oz. of silver.

Newcrest Mining cuts dividend, posts profit drop amid lower output

Mining News Pro - Newcrest Mining on Friday reported a nearly 25% slide in full-year profit and halved its dividend from a year ago, hit by rising costs and lower output at its Lihir and Cadia mines.

Glencore to end silver streaming deal with Wheaton on Peru mine

Mining News Pro - Wheaton Precious Metals agreed to end its so-called silver “streaming” deal with Glencore Plc on Peru’s Yauliyacu mine for $150 million, the Canadian company said on Thursday, so that Glencore could divest the mine.

Gold price seen rising above $2,000 on inflation, mining veteran says

Mining News Pro - Gold could rally above $2,000 an ounce next year as inflation remains elevated, underpinning support for the metal often viewed as a traditional hedge against price pressures, an industry veteran said.

Gold price to rebound when Fed pivots, FS Investments’ Gayeski says

Mining News Pro - Gold stands to rebound when the Federal Reserve pivots to easier monetary policy after about a year, although prices may see a slight drop before that as the US central bank goes on shrinking its balance sheet, according to FS Investments.

‘Right material’ to efficiently remove mercury from water shows promising results

Mining News Pro - Researchers at Drexel University have found the right material to efficiently catch mercury —even at low levels— and clean up contaminated bodies of water.

Turquoise Hill rejects Rio Tinto’s $2.7 billion takeover offer

Mining News Pro - Canada’s Turquoise Hill Resources has rejected majority shareholder Rio Tinto’s bid to buy the 49% stake it doesn’t already own in the company for $2.7 billion, saying it did not reflect its full and fair value.

How the US toppled the world’s most powerful gold trader

Mining News Pro - In December 2018, a man in his early 30s was intercepted on arrival at Fort Lauderdale airport and taken to a room where two FBI agents sat waiting.

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