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Gold steady as investors await U.S. rate clues

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Gold held steady on Wednesday as investors took to the sidelines ahead of a speech by Federal Reserve Chair Janet Yellen this weekend which will be closely watched for further clues on U.S. interest rate policy. Yellen is scheduled to address a meeting of central bankers in Jackson Hole, Wyoming. Recent hawkish comments from policymakers […]

Manila targets gold miners in latest crackdown

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Rodrigo Duterte, sworn in as the Philippines president at the end of June, and close ally Gina Lopez, Environment Secretary, has ratcheted up the rhetoric against mining companies operating in the country. Reuters quoted Duterte last week as saying the country could forego the $850m in government revenues from the mining industry which represents just 1% of GDP. […]

Gold price further downside

Arab Energy News
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More downside is expected for gold as investors anxiously await the US Federal Reserve’s decision on interest rates that will be known on Wednesday evening. Analysts are forecasting the bullion to move lower towards $1,300 per ounce instead of climbing to the $1,400 level. The Fed’s ruling on interest rates can have drastic impact on […]

China gold imports fall in June

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China, the world’s top gold consumer, cut imports of the precious metal from Hong Kong last month as surging prices discouraged buyers and inventories had been fully replenished in May. Net gold imports dropped 38.5% to 70.886 tonnes in June, down from 115.29 tonnes in May, according to data from The Hong Kong Census and […]

Kibo Mining gains 100% interest in Tanzanian gold projects

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Kibo Mining, the dual-listed Tanzania-focused junior, has gained access to 100% of its Imweru and Lubando gold projects following a deal with Acacia Mining. The deal by Kibo Mining sees Acacia Mining, the East African focused gold miner, convert its residual equity interests in the Imweru and Lubando Projects to a 2% Net Smelter Royalty […]

“When Land Is Lost, Do We Eat Coal?”

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India’s state-owned Coal India Limited, the world’s largest producer of the fossil fuel, allegedly violated human rights by snapping up lands belonging to tribal groups of the country’s Northeastern region, without properly consulting or involving them. According to “When Land Is Lost, Do We Eat Coal?”, Coal India subsidiaries, central and state government authorities in […]

Sukari Gold Mine in Egypt Q2 2016 a 12% increase in production

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Q2 2016 Preliminary Production Results Centamin is pleased to announce preliminary production results for the quarter ended 30 June 2016 from its Sukari Gold Mine (“Sukari”) in Egypt. Preliminary total gold production for the quarter was 140,306 ounces, a 12% increase on the previous quarter and a 30% increase on Q2 2015. Quarterly throughput at […]

Egypt Gold mining between 2 revolutions

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Gold mining company Centamin, they have a motto: “If it was easy, someone else would have done it already.” It’s apt for a business that has built Sukari, one of the world’s biggest gold mines, in a country better known for revolutions and regime change than digging up precious metals. “Egyptian civilisation has been around […]

Brexit double whammy great for these gold miners

Arab Energy News
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Gold has consolidated its post-Brexit gains this week hitting a two-year high on a closing price basis on futures markets in New York. But the metal is down sharply from its intra-day high of $1,362.60, the highest since July 2014, struck on Friday. While the pullback is somewhat disappointing, some gold mining companies are benefitting […]
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