Tanzania's largest gold miner reported a 17% jump in third-quarter core profit, and said it anticipates full-year costs at the lower end of it target range of $1,100-$1,175 per ounce sold.
The volume of gold sold forward by mining companies jumped 61% in the second quarter after Russia's Polyus Gold added a major new hedge position, an industry report showed on Wednesday.
Randgold Resources chief executive Mark Bristow argues that the looming undersupply of gold will create opportunities for mineral-rich African countries but they will have to compete aggressively for shrinking exploration dollars.