Bullion on the Shanghai Gold Exchange traded at a premium of more than $120 an ounce on Thursday.

The LBMA's database of Russian gold bars held by banks in London helps to prevent sanctions evasion by Russian companies.

The mine is part of Osisko’s Tintic project in the central part of Utah.

The first project is located at the Garpenberg zinc mine and will be initiated already during 2023.

Gold imports by India, the world’s second-biggest consumer, surged about 40% in August on strong festive buying.

“Precious metal investors are less worried about higher inflation and more focused on the opportunity costs associated with holding a non-interest bearing asset," analyst said.

CEO Peter Steenkamp is set to retire in December 2024.

The revision follows a fall in reserves and resources at the miner's Yanfolila mine, where estimates dropped 18% and 17%, respectively.