The price of gold has settled into a lower range after climbing into the all-time high of $ 1226 per ounce as gold prices and gold mining stocks have been facing the headwind of a stronger U.S. dollar. Correction recently gold prices have fallen $ 115 from the high-December 3 this morning for a low print of $ 1,010.90 an ounce.
Mexican court issued a temporary suspension order document mining exploration by mining companies Cerro San Pedro. Cessation of mining exploration of Cerro San Pedro affect the sale of shares of Canadian mining company New Gold on the Toronto Stock Exchange.
The increase in share price of New Gold mining company, climbed 45 cents, or 13 percent. Stock price increase is the largest stock price since May 12.
OAO Severstal, Russia’s largest steelmaker, is considering whether to sell shares of its gold- mining unit after the price of the metal rose to a record, said two people familiar with the situation.
Severstal may hold an initial public offering late next year or in early 2011, said the people, who declined to be identified because the deliberations are private.
Australia is the largest producer after China’s gold mines. Australian mining companies looking for sources of gold mines that have the potential to do exploration. Resolute Mining, one of Australian mining companies who have invested in gold mining project in Mali. Value investing has issued Resolute Mining on gold mining project in Mali $ 186 million.
Zoro Mining Corp. announces that it has effective December 2, 2009, completed the acquisition of a 100% legal and beneficial interest in and to approximately twelve property mineral exploration concessions covering nearly 2,900 hectares in a dry lake bed with inflow waters and subsurface brines known as the Piedra Parada Salar Project, and eight property mineral exploration concessions covering nearly 2,300 hectares targeting precious metals known as the Fritis Project, both located in Chile’s Atacama Region III.
Nearly 120 years after three men called Joseph laid eyes on the gold fields of the Ashanti kingdom, Ghana’s rich seams are once more an alluring prospect for the world’s mining houses.
As many mines elsewhere grow deep, dangerous and expensive, Ghanaian production increased by 10 per cent last year, more than any other of the top 10 producer countries, many of which registered steep declines, according to GFMS, a consultancy.
A federal appeals court has temporarily blocked construction of a massive gold mine project in northeast Nevada that critics say would harm the environment and ruin a mountain several tribes consider sacred.
A three-judge panel of the 9th U.S. Circuit Court of Appeals reversed part of an earlier decision denying a preliminary injunction sought by conservationists and tribal leaders.
Jinshan Gold Mines Inc. announces that it has agreed to a loan facility in the amount of US$40 million from China National Gold Group Corporation, its largest shareholder. The loan is non-revolving, will bear interest at a rate of 6% per annum, and is unsecured, with accrued interest payable quarterly. Subject to prior repayment, the outstanding balance of the loan will become due and payable in December, 2011.
