Gold - Copperbelt Katanga Mining

Gold climbs as traders weigh war, sanctions against rate hike

February 25, 2022February 25, 2022 admin

Gold advanced, with investors remaining on edge as they assessed the impact of Russia’s invasion of Ukraine and Western sanctions, against the imminent monetary policy tightening in the US. Bullion fell a day earlier after surging to the highest in more than 17 months as traders digested weaker-than-expected sanctions on Russia following the country’s attack on its neighbor. Gold’s rally could have a lot further to go if a resulting commodity price spike leads to concerns of a material slowdown in growth in developed markets, according to Goldman Sachs Group. President Joe… Read More Here

Gold International

Gold soars over 2%, palladium advances as Russia attacks Ukraine

February 24, 2022February 24, 2022 admin

Gold prices jumped more than 2% on Thursday to their highest in over a year and palladium extended a rally as Russian forces invaded Ukraine after President Vladimir Putin authorised what he called a special military operation. Spot gold climbed 1.9% to $1 943.28 per ounce by 0720 GMT, after hitting its best level since January 2021 at $1 948.77. U.S. gold futures GCv1 jumped 1.9% to $1 945.90. Russian forces fired missiles at several cities in Ukraine and landed troops on its coast on Thursday, according to officials and… Read More Here

Gold International

Gold steady as investors assess Russian sanctions and inflation

February 23, 2022February 23, 2022 admin

Gold held steady as investors weighed the severity of Western sanctions on Russia against prospects for tighter US monetary policy. Bullion is having a strong start to 2022 on the back of rising geopolitical tensions in Europe, which have pushed prices to the highest in more than eight months despite expectations that the Federal Reserve will raise interest rates in March to curb inflation. The tensions in Europe are raising concerns over potential disruption of supplies of raw materials, bolstering prices for everything from energy to wheat and nickel. “The likelihood… Read More Here

Gold International

Gold price holds near 8-month high as investors monitor Ukraine crisis

February 22, 2022February 22, 2022 admin

Gold prices eased in volatile trade on Monday, as doubts over a potential summit between Russia President Vladimir Putin and his US counterpart Joe Biden to help resolve the crisis in Ukraine kept the safe haven metal near an 8-month high. Spot gold held steady at $1,896.86 per ounce by 12:40 p.m. ET, while US gold futures traded at about $1,898.50 per ounce in New York. Earlier, bullion fell as much as 0.6% after statements from Washington and the Elysee that both the US and Russia had agreed to the summit… Read More Here

Gold International

AngloGold’s 2021 profit falls 39% on lower output, higher cost

February 22, 2022February 22, 2022 admin

South Africa-based gold miner AngloGold Ashanti reported a fall of 38.66% in its profit for 2021 on Tuesday, as lower gold production and inflationary pressure hit its earnings. The company’s headline earnings per share (HEPS) — the main profit measure in South Africa — was 146 U.S cents, down from 238 U.S cents a year ago. The miner, with operations across Africa, Australia and Latin America, said it will pay a dividend of 14 cents per share, taking the full year dividend to 20 cents per share. The Johannesburg Stock Exchange-listed… Read More Here

Gold Mining Companies

Harmony expects up to 72% drop in interim earnings

February 22, 2022February 22, 2022 admin

JSE-listed gold miner Harmony Gold expects its basic earnings for the first half of its 2022 financial year, ended December 31, 2021, to be between 68% and 72% lower than that of the six months ended December 31, 2020. This is primarily the result of several factors, including a nonrecurring gain on the bargain purchase recognised for the acquisition of the assets and liabilities of Mponeng operations and related assets in the first half of the 2021 financial year. It is also owing to a lower gross profit as a result of higher production costs, which offset the increase in… Read More Here

Gold International

Gold pushes above $1 900 as Ukraine crisis spurs haven demand

February 18, 2022February 18, 2022 admin

Gold advanced to an eight-month high above $1 900/oz as the prolonged standoff over Ukraine stoked demand for havens. The US ramped up warnings of a possible Russian attack, with President Joe Biden saying a “false-flag” event may be under way. Moscow said no invasion was planned, but given proposed US security assurances were unsatisfactory, Russia might have to resort to “military-technical measures.” Gold has made a strong start to the year, surging to the highest since June, as the possibility of a conflict in Europe buoyed prices. The commodity is set for a third weekly gain even as… Read More Here

Gold International Mining Companies

Asante reports ‘significant interest’ in $100m raise for Bibiani

February 18, 2022February 18, 2022 admin

Exploration and development company Asante Gold has received “significant investor interest” in a private placement of common shares to raise up to $100-million at C$1.75 a share. Emiral Resources, which currently holds 19.6% of the company’s outstanding common shares, has indicated that it intends to participate in the offering at a level sufficient to maintain its current percentage shareholding. Funds will be used for working capital, including the payment of the second $30-million payment to Resolute Mining for the Bibiani mine acquisition, initial mine development costs at the Bibiani mine,… Read More Here

Gold International

Gold price highest since June as concerns over Ukraine continue

February 17, 2022February 17, 2022 admin

Gold prices rose on Wednesday as concerns over the Russia-Ukraine situation lingered on, and as markets looked forward to minutes from the Federal Reserve’s last policy meeting. Spot gold saw a 0.6% gain to $1,865.72 per ounce by noon ET, its highest since June 2021. US gold futures were also up 0.6%, trading at $1,866.60 an ounce in New York. “Gold is attracting a wide range of investors that are looking for protection as they are realizing that there’s not going to be a quick resolution to this (Russian-Ukraine) situation,”… Read More Here

Mining in DRC Cobalt Copper Gold

Market: copper at 9,825 USD per tonne, cobalt at 74,970 USD per tonne

February 16, 2022February 16, 2022 admin

On the market for the main mining export products of the DRC, for the week from February 14 to 19, 2022, the price trend is mainly upward and stable, according to projections by experts from the National Mercurial Commission. of the Ministry of Foreign Trade. Copper is trading this week at 9.825 USD per ton against 9.764 USD per ton last week, a positive price difference of 614 USD. The other mineral that is up this week is tin. It is sold this week on the international market at 43,377 USD… Read More Here