Goldman sees support for global commodity prices from mid-2023

Mining News Pro - Prices of commodities from oil to metals have been pummeled by a strong US dollar this year as the Federal Reserves hiked interest rates aggressively to curb inflation.

SolGold delays Cascabel DFS, Porvenir PEA as it looks to cost reduction

Mining News Pro - SolGold discovered and defined the resources at Cascabel for less than $0.01/lb of copper-equivalent or less than $3/oz of gold-equivalent.

Lundin Gold shares hit 52-week high on new Fruta del Norte drill results

Mining News Pro - The Fruta del Norte deposit is currently estimated to contain an inferred resource of approximately 11.6 million tonnes averaging 5.69 g/t gold, containing 2.13 million ounces of gold.

Condor Gold puts La India project in Nicaragua up for sale

Mining News Pro - The La India project covers a 588 square kilometre land package, that holds 12 contiguous and adjacent concessions.

Salazar, Adventus reach deal for $270m Ecuador copper-gold project

Mining News Pro - The partners said that the country’s investment institution approved last week a draft contract whose final version is expected to be signed in four months.

SolGold CEO leaves after less than a year in the top job

Mining News Pro - During the first 25 years of mining, Cascabel is expected to have an average annual production of 207,000 tonnes of copper, 438,000 ounces of gold and 1.4 million ounces of silver.

Gold price hits 4-week high with elections, inflation data in focus

Mining News Pro - Bullion started Tuesday’s session slow and just below the $1,700 an ounce mark, but began to surge when the dollar failed to gather momentum for a rebound.

Newcrest approves $140 million expansion of Telfer gold-copper operation

Mining News Pro - The company said the West Dome Stage 8 cutback should start producing ore in the current quarter — its second quarter of fiscal year 2023 — and extend Telfer’a operations into early fiscal year 2025.

Agnico Eagle, Pan American to buy Yamana Gold in $4.8bn deal

Mining News Pro - Toronto-based Yamana said on Tuesday it had inked a deal with the two precious metals miners after South Africa’s Gold Fields (JSE, NYSE: GFI) waived on Monday its right to match the rival bid.

Gold Fields won’t raise offer for Yamana Gold after rival bid

Mining News Pro - Yamana’s website still has a banner on the landing page announcing the Gold Fields’ deal. Should their agreement be terminated, the Toronto-based miner would have to pay a $300 million break fee to Gold Fields.

Barrick shares tumble as weaker gold production dents profit

Mining News Pro - Toronto-listed shares were down 6.9% to 18.26 Canadian dollars, on track for their biggest one-day drop in two years.

Mystery whales baffle gold market after central bank purchases

Mining News Pro - A normally dry research report jolted the gold market this week, when it pointed to massive but so far unidentified sovereign buyers.

Gold price drops over 1% as another Fed rate hike looms

Mining News Pro - Gold fell more than 1% on Friday as the US dollar rose, giving up gains from bets for a slowdown in monetary tightening by the Federal Reserve later in the year as the immediate focus turned to an impending rate hike next week.

Wesdome Gold falls after output drop, but analyst sees brighter future

Mining News Pro - Shares in Wesdome Gold Mines shed nearly 11% of their value on Friday after the company reported production was down nearly a quarter from a year ago, while conditions at its Kiena mine in Quebec are challenging.

Asante Gold conditionally approved for Toronto venture exchange listing

Mining News Pro - Canada’s Asante Gold said on Tuesday it had been conditionally approved to list its common shares on the TSX Venture Exchange, which offers earlier-stage companies access to public venture capital.

Goldman analysts say markets yet to grasp full impact of Inflation Reduction Act

Mining News Pro - ESG investors are missing an array of opportunities created by President Joe Biden’s climate bill, according to analysts at Goldman Sachs Group Inc.

Aura Minerals advances Matupá gold project in Brazil closer to production with FS release

Mining News Pro - Aura Minerals has released the results of a feasibility study for its wholly owned Matupá gold project located in Mato Grosso, Brazil. Matupá will be an open pit mine situated in the Alta Floresta gold province, a prolific region with large companies operating and exploring in the area, including Anglo American, Codelco, Nexa Resources, Iamgold and Yamana Gold.

Gold price slides ahead of US jobs data

Mining News Pro - Gold retreated on Wednesday after a two-day surge as traders weighed whether the Federal Reserve may moderate its hawkish stance after the release of weak US data.

Gold price extends rally as Treasury yields retreat continues

Mining News Pro - Gold extended its rally on Monday, supported by a continued decline in Treasury yields, as traders weighed concerns that central banks’ monetary tightening will lead to recession and the possibility that bond rates may have reached a peak.

London gold dealer runs out of bullion as Truss budget shocks

Mining News Pro - When the pound slumped as Kwasi Kwarteng presented his mini-budget, some Britons rushed to the safety of a haven that’s recently lost its luster: gold.

Gold price rallies as dollar pulls back

Mining News Pro - Gold rose by nearly 2% on Wednesday as a slight retreat in the dollar rekindled some of its safe-haven appeal, although prospects of sharp rate hikes are still keeping the precious metal near a 2-1/2-year trough.

Glencore buys Newmont’s stake in Argentina copper-gold project

Mining News Pro - Mining and commodities giant Glencore is buying Newmont’s minority stake in the Argentinean MARA cooper-gold project, a joint venture created in 2020 between the two companies and Yamana Gold.

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.

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