Glencore’s 2020 output hit by Congo mine closure, sticks to targets

A December 2017 feasibility study estimated the open-pit project would produce about 116,000 ounces of gold over a 17-year mine life.

The company churned out 304,400 ounces of gold last year, 36% more than a year earlier and a whooping 85% increase when compared to 2017.

Building activities at Côté Gold, located in the Abitibi gold belt in Ontario, were slated to start in the first months of 2019, with pre-production beginning in late 2020.

The mineral resource update totalled 9.85 million tonnes at 3.6 grams per tonne of gold for 1.14 million of indicate ounces, a surge of 57,000 ounces from the previous update.

The Canadian miner deemed as false the allegations in a letter given by a group of activists to the Mexican president, Andrés Manuel López Obrador.

In Q2 2019, analysts expect investment levels across the European mining sector will be sluggish.

The miner said that significant amounts of saprolite-hosted gold mineralization was discovered.

The Vancouver-based miner is consolidating the Sascha - Marcelina project to make it 30,600 hectares big.

January is a typically strong month as demand tends to gather pace going into the Lunar New Year.