Gem Diamonds to cut jobs, salaries amid industry crisis
It plans to reduce operating costs by $1.4-$1.6 million monthly and cut 20% of it workforce at its Letšeng mine in Lesotho.
It plans to reduce operating costs by $1.4-$1.6 million monthly and cut 20% of it workforce at its Letšeng mine in Lesotho.
Stronger-than-expected US jobs data rattled markets on Thursday, sending gold prices lower as expectations for a near-term Fed rate cut faded.
Gold prices pulled back sharply following stronger-than-expected US jobs data—putting the brakes on hopes for a near-term Fed rate cut. To unpack […]
The selloff in gold comes after the latest US payroll numbers came in above analyst expectations, lowering the chances of a Fed rate cut.
The decline follows new US data that showed a largely stable labour market for the month of May.
Gold is up around 28% this year, just $150 below an all-time high.
Report identifies “a vast but unrealized potential for Canada to shift from exporting raw iron ore to value-added green hot briquetted iron."
The Otjikoto mine produced a record 198,142 ounces of gold last year.
The carbon removal industry could positively impact both the climate and the mining jobs market, according the Carbon Removal Alliance.
US takes more than 30% of India's jewellery exports.