London gold fixing firm seeks 3rd party to run benchmark

A court in the District of Columbia is allowing Canadian Crystallex the possibility of advancing in a legal dispute against Venezuela

Workers at the mine downed tools over a week ago, angered by the company’s actions to eradicate illegal miners from its operations.

The country will require local miners to be 30% black-owned and has set a 12-month deadline for them to comply with the new rules.

It sold $54.8 million worth of rubies, a record high for any Gemfields auction and a 24% increase in revenue from the previous record.

Two miners have been trapped for six days at the Delia mine, part of Canadian Mandalay Resources' Cerro Bayo complex

Financial markets and gold investors were jittery at the start of the trading day, with the Fed poised to raise interest rates for the second time this year.

Agreement is part of plan to double investment in the sector to $25bn in eight years.

Barrick confirmed chairman John Thornton met President John Magufuli for talks Wednesday, but didn't mention the details of what, if anything, had been agreed.

Gemfields, which mines for emeralds and amethysts in Zambia and for rubies in Mozambique, had already received a buyout offer from largest shareholder Pallinghurst Resources.