Mining.com

By Reuters JOHANNESBURG, Aug 21 (Reuters) – South Africa’s National Union of Mineworkers (NUM) said on Tuesday that wage negotiations in the gold sector were at a deadlock and the union had declared a dispute, a move that is one step short of a strike. However, the Minerals Council, formerly known as the Chamber of […]

By Cecilia Jamasmie World’s No.1 mining company BHP (ASX, NYSE:BHP) (LON:BLT) revealed Tuesday that ore processing at its Olympic Dam copper, gold and uranium mine in South Australia is being affected by an ongoing technical issue. Copper production at Olympic Dam is set to reach around 230,000 tonnes by 2021, but there is potential for

By Cecilia Jamasmie Harmony Gold (JSE:HAR) (NYSE:HMY), the world’s fifth largest producer of the precious metal, swung to a net loss for fiscal 2018 after booking impairment costs at a number of its mines, as well as an additional loss due to foreign-currency effects. The South African gold miner posted a 43% drop in annual

By Globe Newswire Canadian-based mining company, SEMAFO Inc. announced an update on its security measures in Burkina Faso, following two armed incidents last week. The transportation of personnel and supplies has resumed at both the Boungou and Mana mines and measures have been taken to improve employee safety. All expatriate employees are now being transported

By Bloomberg News Gold is hitting new milestones of misery. Exchange-traded funds tracking the metal have bled assets for 13 consecutive weeks, the longest run in five years, investors have placed the biggest gold short on record, and bullion’s chief foe — a strong dollar — is extending its market grip. Gold’s 9 percent tumble

By Cecilia Jamasmie South Africa’s AngloGold Ashanti (JSE:ANG) (NYSE:AU), the world’s third-biggest producer of the precious metal, has swung to a profit just ahead of the company’s change of leadership. Kelvin Dushnisky, who is leaving Barrick Gold at the end of August to become AngloGold’s new chief executive officer, will find the company in “good

By Valentina Ruiz Leotaud Local media are reporting that one person died and three were injured after a wall collapsed at the community-operated Gaika Mine in Kwekwe, central Zimbabwe. The miners were digging for gold and allegedly were using explosives, which weakened the shaft where they were working. Three of them ended up trapped for

By Bloomberg News Commodity markets have gone haywire — and hedge funds with picture-perfect timing are set to rake in stellar profits. As U.S.-China trade tensions escalated mid-June, fast-money traders flipped to a short position in metals overall, subsequently extending bearish wagers to a record coming into the maelstrom of the past few days. Hedge

By Bloomberg News (Bloomberg) — South African President Cyril Ramaphosa had hopes of lifting economic growth to 3 percent in 2018. Economists think that goal is even more unattainable than before. Growth in gross domestic product will average 1.4 percent this year, according to the median prediction by 22 respondents in a Bloomberg survey, which

By Bloomberg News (Bloomberg) — Don’t write off gold in the battle of the havens. Bullion has lost out in a paradigm shift where the metal’s no longer viewed as the traditional refuge when investors are in a risk-off mood, but that won’t last, according to Rick Rule, chief executive officer of Sprott U.S. Holdings