Bloomberg reported that according to Barrick Gold Corp. (TSX:ABX,NYSE:ABX), Goldcorp Inc. (TSX:G,NYSE:GG) and Newmont Mining Corp. (NYSE:NEM), global gold output is set to decline, largely because miners have cut spending and revised their mining plans.
Articles Tagged "NYSE:NEM"
Reuters reported that Newmont Mining Corp. (NYSE:NEM) intends to cut as many as 600 jobs at its Ghana-based gold mine by this June. Its reasons for doing so include an "ageing facility and slumping gold prices."
Reuters reported that the closure of the Super Pit gold mine, which is operated by Kalgoorlie Consolidated Gold Mines Pty Ltd. on behalf of Barrick Gold Corp. (TSX:ABX,NYSE:ABX) and Newmont Mining Corp. (NYSE:NEM), has been delayed until 2029.
Klondex Mines (TSX:KDX), working to put its Fire Creek gold project in Nevada into production, on Wednesday said it will pay Newmont Mining (NYSE:NEM) about $83 million for its Midas mine and milling facility in the same state.
In another down week for gold, Barrick decided enough is enough at Pascua Lama, and temporarily suspended construction at the troubled mega-project.
Here are five companies mining the precious metal Down Under.
The renowned exploration geologist offers some hope for junior gold investors who are willing to be patient.
The chickens are coming home to roost for some major gold companies that are having to take significant hits on asset valuations.
It is like a carrot on a stick for small-cap mining investors: the promise that we have finally hit bottom and can expect gold prices and stocks to begin to emerge again. That time is almost here, according to Ron Struthers, the publisher and editor of Struthers' Resource Stock Report. In this interview with The Gold Report, Struthers discusses how a run on bullion banks has played with the gold price and which indictor is telling him things are about to move. If Struthers' forecast is right, the market could be on the cusp of one of its best corrections yet.
The Grasberg mine in Indonesia, the Yanacocha mine in Peru and the Goldstrike mine in Nevada are the three largest gold mines in the world.