mineral exploration project – commodity prices – mining stock- trade and market

The world’s second largest gold producer said it plans to link its dividend to gold prices and added it would raise production by more than a third by 2017.

Newmont Mining Corp , the second-largest gold producer in the world, plans to link its dividend to gold prices, and said it will target to raise production of the precious metal by more than a third by 2017.

Denver-based Newmont’s shares, which have trailed the Arca Gold Bugs Index since the beginning of the year, rose 4 percent to $58.72 in early trade. The index, which tracks 16 of the world’s largest bullion...

Horizonte, the AIM quoted exploration and development company focused on Brazil, is pleased to announce that it has signed a US$4.5 million earn in agreement on its 100% owned Falcao gold project, located in the Carajas Mineral Province of northern Brazil, with major gold producer and exploration partner, AngloGold Ashanti Limited.

Highlights

- AngloGold can earn into 51% of the Falcao project by spending US$4.5 million on exploration and development over three years

- First year cash commitment of US$900,000 on exploration funding

- Fast track drill programme to...

Lihir Gold shareholders have voted almost unanimously to accept Newcrest Mining’s $10.6 billion scrip-and-cash takeover offer.

The deal will create the world’s fourth-biggest mining company.

With no sign of a white knight emerging, the vote, in Port Moresby yesterday, makes the acquisition almost a formality, with Papua New Guinea National Court approval of the deal scheme of arrangement the only hurdle.

At the meeting, 99.86 per cent of all votes cast were in favour of the deal, which will see Lihir shareholders receive 0.12 Newcrest shares and 22.5c for every...

China’s gold producers will extend this quarter’s rally as demand for the precious metal increases and inflation exceeds government forecasts, according to Central China Securities Holdings Co. and Guoyuan Securities Co.

Zijin Mining Group Co. and Zhongjin Gold Corp., the nation’s two biggest bullion producers, are good investments as consumer prices are expected to rise around 3.5 percent this month, Li Jun, a Shanghai-based strategist at Central China, said in an interview yesterday. Inflation accelerated to 3.3 percent in July, the highest since October 2008.

“In this...

Gold held above $1 230/oz an ounce in Europe on Friday as concern over the outlook for the global economy supported interest in the metal as a haven from risk, but gains were capped by fresh strength in the dollar.

Spot gold was bid at $1 230,45/oz at 09:26 GMT, against $1 230,10 late in New York on Thursday. US gold futures for December delivery eased $2.80 to $1,232.60.

The precious metal rose to a peak of $1 237,15/oz on Thursday after weak US jobless and manufacturing data knocked the dollar and boosted interest in assets seen as lower risk. It later pared those gains as the...

Gold futures rose, extending the longest rally since November, as the dollar dropped against the euro, boosting the appeal of the precious metal as an alternative asset.

The greenback fell as much as 1.1 percent after a payroll report signaled the U.S. will be slow in recouping jobs lost in the recession. Gold reached a three-week high. The metal has advanced 10 percent this year, climbing to a record $1,266.50 an ounce on June 21.

Gold declined in New York as signs that the global economic recovery is taking root curbed investor demand for the metal as a means of protecting wealth and as yesterday’s gain dampened physical purchases.

Gold yesterday rose 1.2 percent, the most in more than three weeks. Singapore’s government today raised the forecast for full-year economic growth to as much as 15 percent, while Intel Corp. reported record second-quarter sales and topped analysts’ estimates with its forecast for the coming period. Asian shares gained and U.S. index futures rose. European stocks were down 0.5...

Bullion Monarch Mining Inc., a precious metals royalty and resource development company based in the...