Latin America-focused Fortuna Silver Mines has announced a cash and stock deal worth US$884.3 million for Roxgold, a gold miner with projects in Burkina Faso and Côte d’Ivoire. TSX-listed Fortuna, which has operations in Peru, Mexico and Argentina, said the combined company would produce about 450,000...
Gold mining companies around the world are facing increasing pressure from investors to reduce their total carbon emissions, after it emerged that the sector is among the biggest emitters of greenhouse gases (GHG) in the mining industry. According to data from ESG consultancy Skarn Associates, scope...
The threat of new COVID-19 restrictions in economies around the world pushed the gold price to its lowest point in nearly two months yesterday, as part of a wider sell-off seen across global stock markets. US gold futures fell by 3.9% to US$1,885.40 per ounce on...
Gold miners are increasingly looking towards new avenues of venture capital on the London and New York stock exchanges as they seek to take advantage of surging prices and demand for the safe haven investment. The COVID-19 pandemic has chiefly fuelled a 32% rise in the...
The gold price soared to an all-time high yesterday amid a fresh wave of investor concerns relating to the COVID-19 pandemic and worsening relations between the US and China. Spot gold rose to reach US$1,945.10 per ounce, surpassing the previous high set in September 2011 and...
Barrick Gold has confirmed it sold a partial stake in Shandong Gold Mining for US$210 million following a rise in the Chinese gold firm’s share price. Canada-based Barrick sold close to 79.3 million shares of Shandong priced at HK$20.50 ($2.65) a share, having acquired them at a...
Canada’s SSR Mining has confirmed it will buy Alacer Gold in an all-stock deal valued at US$1.72 billion, in a sign of the growing appetite for consolidation among the upper echelons of the gold mining sector. In the wake of the COVID-19 outbreak gold prices have...
Australia’s Newcrest Mining plans to increase its exposure to rising gold prices by raising US$655 million to acquire financing facilities for Lundin Gold’s Fruta del Norte gold mine in Ecuador. Australia’s biggest listed gold producer announced the institutional placement at the same time as it reported...
An imminent global economic downturn brought on by the COVID-19 (coronavirus) pandemic will push the value of gold to US$3,000 per ounce by October 2021, Bank of America has projected. The firm's analysts lifted their 18-month price target for the precious metal from $2,000 per ounce...
Oil prices fell by 4% on Monday following news of coronavirus outbreaks in several countries outside of China, while investors flocking to gold pushed prices for the safe haven metal up to eight-year highs. Global trading markets were ravaged yesterday after reports of fresh infections and...