Category: Gold

After years of planning and development, the end is in sight for the Magino gold project, which Toronto-listed Argonaut Gold is building near Dubreuilville, Ontario. The first gold pour at the mine is only weeks away and commercial production is targeted for the third quarter. “Major components critical to commissioning Magino’s mill are coming together as we prepare for first gold pour, which is now expected during the second half of May, which is marginally behind the May 15 target date,” said COO Marc Leduc on Friday 5th may. By March 31, Argonaut had incurred about $652-million of the $755-million (C$980-million) estimate at completion. Leduc… Read More Here

The completion of major processing plant maintenance at Nevada Gold Mines, the conversion of the Goldstrike autoclave to a carbon-in-leach process, a much-improved performance from Turquoise Ridge and the steady ramp-up of throughput at Pueblo Viejo’s expanded plant will boost production in the second half of the year and keep Barrick on track to achieve its 2023 guidance, the company said today. Reporting on the results for the first quarter, president and chief executive Mark Bristow said production, while lower than Q4 2022, was on plan, and free cash flow1 had… Read More Here

According to a report by the Ugandan Parliamentary Committee on Finance, Planning, and Economic Development, Uganda has lost out on Ush600 billion ($160.77 million) in uncollected tax from the export of gold goods since July 2021 because of a dispute with exporters and refiners over levies. Ruth Nankabirwa, Uganda’s Minister for Energy and Mineral Development, however, blamed the loss on a dispute between the Uganda Revenue Authority and more than 20 gold exporters and refiners in her response to the report to the House on Tuesday 2nd May. “From the… Read More Here

Gold continued to slide on Tuesday 25th April as a stronger dollar countered support from lower Treasury yields, as investors await a slew of U.S. economic data due later this week that could sway the stance. Federal Reserve on interest rates. Spot gold fell 0.2% to $1,985.90 an ounce on Tuesday, after falling below the key $2,000 level late last week. US gold futures fell 0.1% to $1,997.40 an ounce. Meanwhile, the dollar rose 0.4% to make bullion relatively more expensive for buyers holding other currencies, while benchmark 10-year Treasury yields… Read More Here

Four people, one of them a member of the Mozambican police force were detained on Monday, in the central province of Manica, accused of stealing two kilos of gold and 750,000 meticais (about 11,800 US dollars) in cash. The theft occurred on Saturday on the premises of a gold mining company. There were five alleged thieves: two informal gold miners, a supervisor of the mining company, and two policemen, one from the Rapid Intervention Unit (UIR – the Mozambican riot police), and one from the Frontier Guard. The latter evaded… Read More Here

Gold held on to gains near $2,020 an ounce on Wednesday 5th March despite a rebound in the dollar, as recent U.S. economic data stoked fears of a slowdown and spurred bets that the Federal Reserve could ease policy. rate hikes. Spot gold was flat at $2,020.72 an ounce as of 1:40 p.m. ET, near its highest level in a year. The precious metal is now around $50 away from trading at an all-time high. US gold futures also had minimal movement, trading at $2,037.70 an ounce. Gold rose above the key… Read More Here