Toronto, Ontario — Kinross Gold Corporation [stock KGC] announced today that it has completed its previously announced bought deal public offering of common shares of Kinross at a price of US$17.25 per common share. The underwriters, led by UBS Securities Canada Inc., elected to exercise their over-allotment option in full prior to closing today, resulting [...]
Reno, Nevada — A U.S. District Judge today ruled in favor of Barrick Gold Corp. [[ABX]] by declined to grant an injunction regarding the Bureau of Land Management’s recent approval of Barrick’s Cortez Hills Project in Lander County, Nevada. District Judge Larry Hicks’ ruling followed four days of testimony and oral argument after two activist [...]
Denver, Colorado — Newmont Mining Corporation [[NEM]] announced today that it will acquire the remaining interest in the Boddington project in Western Australia from a subsidiary of AngloGold Ashanti Ltd. Newmont will own 100% of the Boddington project, which is the largest gold project in Australia, and Newmont’s proven and probable gold reserves at Boddington [...]
Denver, Colorado — Newmont Mining Corporation [[NEM]] announced 2008 equity gold sales of approximately 5.2 million ounces at costs applicable to sales of $440 per ounce. With the start-up of the Boddington project in Australia in mid 2009, the Company expects continued operating performance improvements in 2009, with an equity gold sales outlook of between [...]
The output of the world’s gold mines fell by 4% last year, according to estimates in a new report from the GFMS, a consultancy. Among the largest drops came from South Africa, previously the world’s largest producer, which fell by 14% as well as Australia whose output fell by 14%. China, Russia, and Peru, each [...]
Johannesburg — Gold Fields Limited (Gold Fields) [[GFI]] is pleased to announce the appointment of Paul Schmidt CA (SA) as chief financial officer of the Group, a position in which he has acted since May 2008. According to statements made by the company “Paul is a chartered accountant with eighteen years of industry experience. He [...]
Gold held by exchange-traded funds reached a record level in 2008, as investors bought the metal as a safe haven against economic troubles, the World Gold Council said Tuesday in a report. At 1,190 tons, ETF gold holdings are now higher than central bank holdings in Switzerland, the fifth last official gold holder in the [...]
IAMGOLD [[IAG]] appoints Brian Chandler as Senior Vice President, African Operations. Chandler will lead the expansion on the African continent. Chandler’s background is a professional engineer with “25 years’ experience in many aspects of the mining industry” based on statements from the company. Prior to the appointment, Chandler held a position as a consultant. “[Chandler] [...]
According to the China Mining Association, “China’s futures transactions in 2008 hit a record high of 71 trillion yuan, including 1.49 trillion yuan for the newly listed gold futures contracts.” Based on recent exchange rate that’s $217.9 billion U.S. According to the statistics, 2008 saw “1.36 billion lots traded with an accumulated value of 71.9 [...]
Vancouver, British Columbia — Goldcorp Inc. [[GG]] — Today announced record fourth quarter gold production of 692,000 ounces. Gold production for the 2008 year exceeded 2.3 million ounces, meeting previously issued guidance. Goldcorp’s year-end unaudited financial statements are expected to be released on February 19, 2009. The calculation of operating costs for 2008 has not [...]
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Drilling Starts at Columbus Gold’s Property
Columbus Gold Corporation announced today that drilling has started on the Company’s Summit Project where joint venture partner Agnico-Eagle Mines Limited ([stock AEM]) is earning an initial 51% interest by undertaking staged annual exploration expenditures and making annual cash payments to Columbus Gold. The current program will consist of approximately 4,000 feet (1,220 meters) of [...]