goldmining
The gold price made moves in 2023 on the back of strong central bank buying and a tense geopolitical situation. With those factors still in play, the yellow metal has soared to record highs in 2024. Against that backdrop, independent precious metals consultancy Metals Focus forecasts that gold will average US$2,250 per ounce in 2024, up 16 percent from last year and a new record for the precious metal. Its annual Gold Focus report, released on June 6, explains what factors the firm believes are driving gold at the moment and outlines what investors should watch moving into the second half of t...
Investing News Network
By Timothy J. Killeen Although new mines use state-of-the-art technology, the industry also has a legacy of ageing containment dams at older mines, particularly shuttered mines that no longer generate revenues to finance improvements in the technology surrounding tailings storage facilities (TSF). Their failure can result in the release of millions of cubic metres of toxic sludge into river systems. In populated areas, this can impact the water supplies of communities, wreak havoc on the local economy and endanger the health of thousands of inhabitants. In remote landscapes, a failed containme...
Mongabay
By Arturo TorresDan Collyns The road leading to Podocarpus National Park winds around lush, forested mountains that seem to stretch endlessly on the horizon. Covering 1,463 square kilometers (565 square miles), the park stretches from the foothills of the eastern Andes into the rainforest, straddling the southern Ecuadorian provinces of Loja to the west and Zamora Chinchipe to the east. It extends from the foggy alpine shrubland known as the páramo, at 3,600 meters (11,800 feet) above sea level, down into tropical forest at 900 m (3,000 ft), with waterfalls and boulder-strewn crystalline river...
Mongabay
By Timothy J. Killeen Investment capital flows when prices are high, but companies scale back investments when they fall. Nonetheless, companies do not often abandon projects once underway; in part, this is a natural resistance to writing-off an existing investment, but experienced businessmen also know that markets are cyclical. If companies wish to ‘cash in’ when prices are high, they must have installed capacity in order to ramp up production when the price is right. The prices of industrial minerals were at historical lows prior to 2000 but increased dramatically through the next two decad...
Mongabay
By Timothy J. Killeen The Pan Amazon is a significant source of several key industrial commodities. Global markets are not overly dependent on the region; nonetheless, production from Amazonian mines is not insignificant. Development of mineral resources is a decades-long process and, if the extractive sector were to abandon the region, as proposed by some environmental advocates, the global economy would find other geographies to supply these essential minerals. Oil and gas production is insignificant at the global scale (< 0.1%) and production could be wound down without difficulty. In purel...
Mongabay
Endeavour Mining (TSX:EDV,OTCQX:EDVMF) reported its first gold pour at the Sabodala-Massawa BIOX expansion in Senegal just 24 months after construction of the project commenced. “We are proud to have achieved our first gold pour at the Sabodala-Massawa BIOX Expansion with over 3.5 million man hours worked with no lost time injuries,” commented CEO Ian Cockerill in the company’s announcement. “We have commissioned the project and delivered first gold in only 2 years, marking the fourth capital project that we have completed in the last 10 years. All of these have been completed in two years or ...
Investing News Network
Newmont (TSX:NGT,NYSE:NEM) released its Q1 results on April 25, saying it is on track to achieve guidance. In Q1, the world's largest gold miner reported attributable gold production of 1.7 million ounces, up from the previous year's 1.3 million ounces. The company's shares rose as much as 13.57 percent on the news to hit US$43.84. Emphasizing the strength of its Tier 1 gold and copper assets, Newmont said it generated US$776 million in cashflow from its operating activities during the period, net of working capital changes of US$666 million. The company continues working to divest non-core as...
Investing News Network
By Timothy J. Killeen Gold is universally recognized as a form of money that has retained value over decades, centuries and millennia. Since it is non-corrosive and precious, approximately 95% of the gold mined since the dawn of civilization remains in circulation (~205 million tonnes). The largest share (~47%) is held as jewelry, which in addition to its sentimental value is an important store of family wealth. Governments hold ~17%, which was used historically to back the value of national currencies and, although this is no longer the case, these reserves are often used in times of politica...
Mongabay
閲覧を続けるには、ノアドット株式会社が「プライバシーポリシー」に定める「アクセスデータ」を取得することを含む「nor.利用規約」に同意する必要があります。
「これは何?」という方はこちら