As a gold mining company, the last thing you want to happen is for someone to seize your gold and threaten nonpayment. Forget having the authorities garnish your wages—imagine having them garnish your gold!
Randgold Resources Ltd. (GOLD) is among Africa’s largest gold mining companies, operating primarily in the western and central regions of the continent. Its common stock is also widely traded, averaging more than 1 million shares changing hands per day.
Crippling unemployment in South Africa has driven untold thousands of illegal miners to risk their lives underground in disused gold mines, and sometimes even active ones. Called zama zamas, most would rather be anyplace else than deep underground in dangerous, hand-dug mine shafts. But with an unemployment rate of over 26% and youth unemployment over […]
After a torrid first half of the year that saw gold mining stocks outpace virtually every other sector or industry, the third quarter has been rather quiet for miners both large and small. The sluggish gold price is partly to blame for the lack of news coming from gold miners.
In an era when such reports are becoming fewer and farther between, Endeavour Mining (EDV) has announced that it has uncovered a “significant” new extension of its gold resources at the Ity mine in the Ivory Coast (also known as Côte d’Ivoire in French).
Aquila Resources has received draft approval of mining and water discharge permits for its proposed Back Forty gold mine in Michigan’s Upper Peninsula after ten month’s of review. The open pit mine will sit on the shores of the Menominee River, which marks the state line between Michigan and Wisconsin. The site is the only […]
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 […]