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Fresnillo cuts 2019 production, cites challenging times

18 July 2019 - 13:55
Shares in Fresnillo (LON:FRS), the world’s largest silver miner, dropped by almost 5% to the bottom of the FTSE 100 after it cut its annual production targets, citing lower-than-expected ore grades and construction delays at its gold mines in Mexico.

Acacia hit by fresh roadblock in Tanzania ahead of Barrick’s bid deadline

18 July 2019 - 13:50
Embattled Acacia Mining (LON:ACA) is facing fresh hurdles in Tanzania as the government has ordered it to stop using a waste storage facility at North Mara, its largest gold mine and the only one of the three the company owns that remains fully operational.

Rio faces $1.9bn cost blowout, delays at Oyu Tolgoi

17 July 2019 - 21:25
The world’s No.2 miner, Rio Tinto, (ASX, LON, NYSE:RIO) is once again in trouble in Mongolia, but this time it is not related to the government questioning the legitimacy of the ongoing underground expansion of its giant Oyu Tolgoi copper-gold-silver mine, but the costs and schedule of the project.

Turquoise Hill’s stock tanks on Mongolia troubles

17 July 2019 - 21:19
Turquoise Hill’s (NSYE: TRQ) stock tanked over 42% on Tuesday, after releasing its Q2 2019 report, revealing costs for the expansion of its Oyu Tolgoi mine could increase by up to $1.9 billion.

Avesoro leaves mining at its Burkina Faso gold mine in someone else’s hands

16 July 2019 - 15:15
West Africa-focused Avesoro Resources (TSX, LON: ASO) continues to transition from mining operator to contractor after concluding an agreement for Youga open pit gold mine in Burkina Faso, which could ease project funding pressure on the company.

Gold industry review: Falling production at world’s biggest gold mines, costs kept under control – Q1 2019

16 July 2019 - 15:01
In the first quarter of 2019, the global gold market continued to recover from the two-year lowest average price point of $1,213/ozt recorded in Q3 2018, rebounding to $1,304/ozt in Q1 2019, the second consecutive quarter of growth.

Antofagasta, Barrick get almost $6 billion after legal win against Pakistan

16 July 2019 - 14:56
A World Bank’s tribunal has awarded almost $6 billion to Tethyan Copper Co. (TCC), a joint venture between Antofagasta PLC (LON:ANTO) and Barrick Gold (TSX:ABX) (NYSE: GOLD) Pakistan, settling this way a seven-year battle over a multi-billion-dollar copper and gold reserve in the country.

Rio Tinto showcases Argyle mine’s pink diamonds

15 July 2019 - 18:18
Rio Tinto has unveiled its annual showcase of the world’s rarest pink and red diamonds in a preview at the Argyle mine site in the east Kimberley region of Western Australia.

Chile to triple fines for environmental damages, infractions

14 July 2019 - 17:41
Chilean President Sebastian Piñera has submitted a series of modifications to a bill introduced earlier this year which would set stiffer fines and jail time for serious violations of the country’s environmental rules.

Asian gold buying stalls as consumers look to cash in on price rally

14 July 2019 - 17:25
MUMBAI/BENGALURU – Physical gold buying stalled in top Asian hubs this week as consumers sold back bullion to cash in on a steep price rally, while a recent import duty hike further dented waning interest in an Indian market hit by a surge in local rates.
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