Scotland to have its first commercial gold mine

Kinross Gold (TSX:K) lost $2.78 billion in the fourth quarter, having been forced to writedown the value of its Tasiast project in Africa.

Goldcorp reported fourth quarter gold production of 687,900 ounces at a total cash cost of $261 per ounce, leading to record revenues of $1.5 billion and operating cash flows before working capital changes of $831 million. 

Rising costs could make any interested buyer baulk at the idea though. Cash costs in South Africa at its Ezulweni mine has rocketed to $2,143/oz and were up 20% at Mine Waste Solutions although at $613/oz there you could still turn a profit .

Gold mining in Colombia is shining bright as major gold players are expected to invest U.S. $ 2,100 million by 2015, reports local newspaper La Republica.

Peru’s long-running Conga mine dispute moved slightly forward on Tuesday after the government appointed foreign engineers to oversee an independent review of Newmont Mining Corp.'s stalled $4.8 billion gold project, reports La Republica.

Brazillian miner Vale SA said Tuesday it is gradually resuming mining at its underground nickel operations in Sudbury, Canada.

Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") is pleased to announce that it has completed its previously announced bought deal public offering of common shares. In addition to the 8,600,000 common shares the underwriters initially agreed to purchase, the underwriters, led by BMO Capital Markets and CIBC, purchased all of the 1,290,000 common shares available for issuance pursuant to the exercise of their over-allotment option.

Centerra Gold announced on Tuesday that employees at its massive Kumtor operation in the Kyrgyzstan remain on strike, sending its shares down as much as 3.5%.

Augustin Katumba Mwanke, the former governor of copper-rich Katanga province and go-to guy for resource deals, was seen by many as the power behind the throne.