Newmont’s Twin Creeks achieves commercial production

In 2011 gold-mine production came in at an all-time record high. And in 2012 experts anticipate production to be even higher, edging above the previous year’s 87m-ounce tally. From the looks of it, the major source of gold’s supply is in fine fettle. But is the gold-mining industry truly healthy?

Gold dropped 1% to below $1,600 an ounce for the first time in a week on Thursday after disappointment over efforts to stimulate the economy from the US Federal Reserve was followed by more of the same from the from the European Central Bank.

The Toronto-based company said in the report it continues to engage the government of PNG in legal proceedings held in Sydney Australia but that it has run into trouble with its German partners building a surface vessel for the operation which would lead to delays.

After seeing its share price halved in the past year, the Kinross Gold (TSE:K) board decided to remove Tye Burt and promote Paul Rollinson from Executive Vice-President, Corporate Development to CEO.

With Germany’s leaders telling us that the exit from the Eurozone by Greece no longer holds terror for them, we understand that they are prepared for such an eventuality.

"Primero achieved its strongest quarter to date. San Dimas delivered record gold and silver production, record profit margins and record operating cash flow for Primero."

A study of Quebec's royalty rates for miners, which was hurried out before the provincial election, warned the government not to dip its hand any deeper into resource company pockets.

Nautilus Minerals dropped 7.3% to $1.02 in late-afternoon trade on Wednesday, after the Toronto-based firm announced that it is raising $34 million from its major shareholders at 90c a share to build its seabed mining system.

The stock hit a high of $50 in May 2008 and came close again in April 2011, but at $170 billion, the Melbourne-based company is now valued at some $80 billion less that at its peak.