Newcrest ready to divest interest from Indonesian asset

The world’s biggest miner unveiled details about how it expects to meet cost-reduction and productivity improvement targets.

Precious metals markets could be in for a wild ride this week, with the US Federal Reserve expected to wind down its third installment of quantitative easing. (QE)

The amount of gold produced by the Democratic Republic of Congo is on track to be four times the amount produced last year, thanks largely to the opening of the Kibali gold mine in May.

Paramount Gold and Silver Corp. announced Oct. 21 that new drilling at its 100%-owned San Miguel Project in northern Mexico is likely expanding the bulk minable resource in the San Francisco deposit.

Randgold owns and operates the Morila, Loulo and Gounkoto gold mines in Mali.

For gold and silver it has been a week of two halves: first prices rallied to a peak on Tuesday, then declined to show net losses for the week on Wednesday for silver and Thursday for gold.

The dispute dates back four years. Some locals still refuse to use certain shops in the village because their owner has taken one side or another regarding a proposal by Canadian company Asturgold to mine one of Europe’s last major gold reserves.

The World Gold Council predicts that India will import 850 to 950 tonnes of gold this year.

Gold fell on Thursday as stronger-than-expected economic data and upbeat corporate results lifted stocks in Europe and the United States.