Bloomberg reported that AngloGold Ashanti has announced that they are cutting back on investment in current and future projects as it struggles to rein in falling profits, partly due to labour unrest last year.
Bloomberg reported that AngloGold (JNB:ANG) profits reached a record despite cuts to production.
By Kishori Krishnan Exclusive To Gold Investing News Are mining mergers back in the fray? Crocodile Gold Inc has reportedly arranged a $35 million syndicated equity financing related to its plan to merge with Franc-Or Resources Corp (TSX:FOR) and develop mining assets in Australia. Crocodile Gold is a private Canadian company that recently completed the [...]
The World Gold Council has forecast that gold prices could soon touch the crucial $1,000 mark very soon due to surging production costs and dwindling supply. For full story, click here
AngloGold Ashanti Ltd. along with B2Gold Corp. declared that jointly they may initiate building a mine in the Gramalote gold reserve located in the province of Antioquia in North-Western Colombia in 2013. For full story, click here
By Kishori Krishnan Exclusive To Gold Investing News An insurance company getting into gold? That’s right. America’s third largest life insurer, Northwestern Mutual Life Insurance which has been in existence for 152 years, has never in all those years bought gold. Until now. The company has disclosed it recently invested around US$400 million to buy [...]
By Kishori Krishnan Exclusive To Gold Investing News Gold is a safety mechanism and it is also an anti-inflation mechanism - so you get two for the price of one. “Some people will claim there’s no value to it (gold) but so what, it does what it’s supposed to do,” according to Joseph Saluzzi, co-head [...]
By Kishori Krishnan Exclusive To Gold Investing News Gold, despite losing some of its appeal as a safe-haven asset amid sentiment the worst of the financial crisis may be over, is holding its ground on expectations of long-term inflation once the economy reheats. But how long will it last, is the moot question. Analysts aver [...]
AngloGold Ashanti Ltd., Gold Fields Ltd., and Harmony Gold Mining Co., Africa’s leading gold producers, will probably declare first-quarter profit surge as concerns about the global economy boosted the metal’s appeal. For full story, click here
By Kishori Krishnan Exclusive To Gold Investing News The recent rally in American and Canadian equity markets is soon to give way to a gut-wrenching collapse that will push equities to shocking new lows, with gold prices reacting by rallying to new highs. After having correctly anticipated the timing and extent of the March 9th [...]
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