Ban on new gold imports from Russia seen as ‘largely symbolic’

Mining News Pro - The plan by some Group of Seven nations to ban new gold imports from Russia is “largely symbolic” as flows have already been restricted by sanctions, according to analysts.

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.

Commodities face recession test even as Goldman stays bullish

Mining News Pro - Commodities are hitting powerful headwinds after a first-half dominated by the supply turmoil and inflationary shocks unleashed by Russia’s attack on Ukraine. Below, What to Watch looks at what the second half holds for raw materials from natural gas and crude to grains, gold, iron ore, and lithium.

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.

Russia eyes new rules on state’s gold, gem sales amid war

Mining News Pro - Russia’s government and parliament are seeking to change rules on the sales and management of the state’s precious metal and gem stockpiles amid the war with Ukraine.

Tombola on fast track to gold production

Mining News Pro - Sydney-based gold explorer Tombola Gold has announced positive progress towards first gold production, with mining activities advancing well-ahead of schedule as the company fast tracks to first cash flow in 2022.

Alamos Gold kicks off production at new Mexican mine

Mining News Pro - Canadian miner Alamos Gold has begun production at its La Yaqui Grande mine in Mexico, following the completion of construction this month, slightly ahead of schedule.

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.

Goldman sparks bear-bull battle in the lithium market

Mining News Pro - Is the white-hot lithium market about to be dowsed in a cold cyclical shower of oversupply?

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.

Elemental Royalties, Altus Strategies merge, creating global gold royalty company

Mining News Pro - Elemental Royalties and Altus Strategies plc have agreed to a merger, with the share capital of Altus acquired by Elemental.

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.

Egypt to invest in gold, mineral mining

Mining News Pro - Egypt is working to increase the exploration of gold and minerals in the Eastern Desert with the aim of attracting investments in the mining sector.

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.

Perpetua Resources moves closer to legacy cleanup at Stibnite Gold project in Idaho

Mining News Pro - Perpetua Resources is building momentum on its legacy cleanup in Idaho, and has selected IMCO Construction as a partner to begin water quality improvements in the historical Stibnite mining district this summer.

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.

Here’s what Goldman got wrong about lithium prices

Mining News Pro - At the end of May, Goldman Sachs rattled lithium stocks after the investment bank declared the battery metals bull market “over for now”.

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.

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.

Consolidation in gold mining sector to continue

Mining News Pro - While organic growth in the mining industry has stagnated over the years, consolidation in the gold sector is still expected to continue as management teams look to grow their production profiles and replenish their project pipelines via the merger and acquisition (M&A) arena versus the riskier route of developing their own greenfield projects, says CreditSights in its latest gold mining sector outlook report.

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.

Hedge fund run by ex-gold trader soars on Chinese nickel bet

Mining News Pro - As the world was still guessing whether Vladimir Putin would invade Ukraine, a little-known hedge fund in Beijing was already betting that it would happen.

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