After spending 14 years and $90 million to develop the site, mining giant Rio Tinto has walked away from its promising Bunder diamond mine project in India. The project would have been only the second active diamond mine in all of India, sitting astride a massive diamond deposit. By itself, the Bunder diamond mine would […]
We may finally be seeing the wind leave the sails of the gold mining sector after a spectacular start to the 2016 calendar year.
This month marks the 120th anniversary of the Klondike Gold Rush. Immortalized in the works of author and gold seeker Jack London, the gold rush in Canada’s remote Yukon territory captured the imagination of an America mired in the depths of a deflationary depression. Spurred on by newspapers trying to one-up their competition with tales […]
Gold mining firms have been strong this year, with industry players big and small alike posting remarkable gains. However, the broader mineral and resource mining space is still trying to recover from its multiyear slump.
The Olympics are coming to a close, and at the same moment silver is sprinting far ahead of gold. In fact, it’s about to lap its precious metal cousin around the track! When you compare year-to-date returns, spot silver has nearly outpaced gold 2:1—+43% YTD versus a still impressive +27.5% YTD for the gold price.
The gold mining industry has enjoyed a huge bounce-back so far in 2016. As earnings season for the second quarter commences, we’re still seeing a bright outlook for the sector as a whole.
Barrick Gold (ABX) and Newmont Mining (NEM) are the world two largest gold mining firms. Each has a market cap well over $20 billion. For years, these two competitors have provided a useful point of comparison for investors in gold mining stocks.
Amarillo Gold (AGC) is far from a household name in the gold mining space. Nonetheless, the company figures to garner the attention of several of its larger peers in South America.
2016 has a been a banner year for the vast majority of mining companies. This has been especially true for gold miners, but the broader commodities sector has also been buoyed by the rising tide and falling global currencies.
Perhaps more so than any other related enterprise, the mining of precious metals is directly underpinned by the price of gold. When prices are high, mining firms enjoy all the spoils of a booming industry: fresh investment, increased activity, and expansion by companies both large and small. This is precisely was happened from the period […]
All year long, it has appeared that the prospects (no pun intended) for gold mining companies have vastly improved. The decision this week by the Federal Reserve Open Market Committee (FOMC) not to raise interest rates gave another boost to gold prices, which is also a welcome sign for the companies large and small that […]
Why did shares of major miner Rio Tinto Group (RIO) jump by better than 4% today?
Over the last month, gold prices have risen an impressive 6%. This was kicked off by the most recent unemployment report that was far worse than expected. Precious metal prices have surged since then, with gold advancing from $1,210/oz to above $1,285/oz over that time.
During the classical period of gold rushes during the latter half of the 19th century, going to work at a gold mine (as a gold prospector) was an independent, entrepreneurial endeavor. In the 20th century and beyond, however, mineworkers have become more of a marginalized labor group. The economics of being a mineworker can be […]
Advancements in remote-controlled and autonomous mining are catching the interest of more companies than ever before. Driverless trucks, loaders, and even underground drills promise improved safety, less waste, and greater productivity. For many operations, the initial cost of remote-controlled or autonomous mining vehicles is more than offset by the savings in hiring, training, housing, and […]
One of the major developments in the global markets this year has been the recovery of precious metals prices and, along with them, the fate of the gold mining sector.
When you’re one of the largest firms in your industry like Barrick Gold (ABX) is, there are clear benefits and drawbacks. When the market is down, a leading firm like Barrick is often hit hardest. To the same token, when the market is hot, the company enjoys some of the most impressive returns in the […]
At long last, there’s a bit of good news for Newmont Mining (NEM). The firm has secured a new 6-month license from the Indonesian government to allow it to export copper again. The push to receive the license has been months in the making for Newmont.
The military junta ruling Thailand surprised the mining community this week when it suddenly banned gold mining in the nation. It decreed that all gold mining in the country must be shut down by the end of the year. Operations will remain halted until environmental concerns are addressed. Villagers claim that the mines have poisoned […]
The 2016 calendar has been much kinder to mining companies than the last three years in which the industry suffered a major setback. While the turnaround has much to do with the significant rally for the precious metals so far this year, there have also been important changes in how many of these companies have […]