Newcrest rebuffs Newmont offer, opens books as profit beats expectations

McEwen is working on a preliminary economic assessment for the expansion of the Fox complex.

Lundin Mining fell the most since March after it agreed to acquire Josemaria Resources for C$625 million.

The financing is linked to the gold miner’s ESG (environmental, social and governance) performance – specifically its carbon emissions and its commitment to promote more women into senior roles.

But moves in gold were likely to remain muted, in part due to thinning liquidity into the year-end, analysts said.

Gold Royalties said it is taking its offer directly to Elemental’s shareholders after its two previous approaches to the junior failed to engage Elemental’s board of directors.

Burkina Faso produces 34 tonnes of artisanal gold per year, but only 300kg was formally exported in 2019 due to a lack of traceability and lower export taxes in neighbouring countries.

Out of the 27 key commodities, Fitch sees 19 of them averaging lower on a year-on-year basis.

The shift to risker and less liquid assets strengthens the case for an allocation to gold, given its unique combination as a highly liquid diversifier, that can reduce portfolio volatility, the World Gold Council says.

Gold weathered this week’s uber-hawkish FOMC meeting with flying colors.