Artisanal gold mining polluting Peruvian biodiversity hotspot -study

10 ways economists get it wrong when they bash gold bugs and the gold standard. (No 3: Maintaining the gold standard costs more than the fiat money system)

Underground mining royalties cut to 6% from 9%.

Mining and logging was the big exception in Friday's payroll numbers with 18,000 jobs lost in May, the worst month since the global financial crisis.

Strong payroll numbers add to urgency for a hike in US interest rates making owning zero-yielding gold a less attractive asset.

The deal also includes a $5 million contingent payment and a 1% royalty on a recent discovery north of Waihi’s current operations.

At its centre will be a shift of emphasis away from trade with the advanced nations, whose prospects are bound to subside towards their level of economic growth.

According to the state copper commission, Chile’s portfolio of planned mining investments remains the largest in Latin America.

The company could extend a 60-day pause in effect since late May to allow locals more time to clear up their doubts about the project’s environmental impact.

Mali, Papa New Guinea, Burkina Faso, Guinea, Tanzania, DRC and Mongolia among countries where gold mining contributed the most to their locals economies, says the World Gold Council.