MegumaGold expands exploration holdings at Touquoy mine

The move puts an end to a nearly nine-month standoff that has hit output and profits in Africa’s second largest copper producer.

"Newly listed tech firms are being greeted in a much different manner than just five years ago when the sector was mostly going neglected amid sky-high commodity prices."

Gold futures for August delivery declined for the third day Tuesday, hitting $1,177.30 an ounce in early trading on the Comex in New York.

Teck is facing sanctions over infractions that include openings in the deposit where the ore is stored and a failure to build sufficient water infrastructure.

A total of 56 passengers are being investigated.

"Particularly impressive"

The probe focused on a 2010 deal through which the company gave a 9% of its South Deep mine to a group of black investors in order to meet government’s regulations aimed to boost black ownership.

Bullion had its biggest rally in a month after Federal Reserve Chair Yellen and her fellow policy makers cut their long-term projections for U.S. interest rates.

The Chinese firm already mines gold next door to a Phoenix deposit.