The gold price failed to catch fire this week even though the US Federal Reserve announced news that was bullion-supportive.
Articles Tagged "australia"
Bloomberg reported that increasing costs and falling ore quality at Alacer Gold Corp.'s (TSX:ASR,ASX:AQG) Australia-based mines, coupled with expansion potential at the company's gold mine in Turkey, make Alacer a good M&A target.
Gold Investing News identifies the top-ranked countries and their gold reserves for 2011.
Reuters reported that Newcrest Mining Ltd. (ASX:NCM) plans to spend AU$5 billion in order to increase gold production by 1 million ounces in the next five years. Other major mining companies, such as Barrick Gold Corp. (TSX:ABX), are aiming for similar production increases.
Thor Mining PLC (ASX:THR,LSE:THR) announced that it has begun drilling at its Spring Hill gold project in Australia's Northern Territory. It plans to finish drilling by the end of August.
Gold prices dropped on Thursday due to a discounted interest rate cut from the European Central Bank and the expectation that disappointing economic data out of the United States will follow at the end of the week.
The world's top ten gold producers span the globe, much like the metal's admirers.
Mining Weekly reported that gold production from Australia was down 5% quarter-on-quarter.
Mining Weekly reported that Evolution Mining (ASX:CAH) increased its gold resource estimate at the Australia-based Edna May project.
Mining Weekly reported that Newcrest (ASX:NCM) increased its gold production by about 3%.