Gold Fields cuts output targets in Chile on project delay

The company, until recently known as First Cobalt, will retain its royalty interest in the properties being sold to Kuya Silver.

Depending on the direction for the dollar resulting from the Fed's actions, gold is likely to fall in range between $1,620/oz $1,920/oz.

Net proceeds of the sale will be used to fund exploration and development activities at Eskay Creek gold-silver project in British Columbia.

The US currency's climb to 20-year peaks this year eroded demand for dollar-priced bullion.

The Juanicipio mine represents Fresnillo's next major growth project.

The resumption of mining activities at Julcani and Orcopampa will now enable the company to meet its 2022 production guidance.

The deal includes a silver stream on the Esperanza project in Morelos, Mexico and royalties on the Fenn Gib South, Ronda and Northshore West exploration-stage projects in Ontario.

The net proceeds from the offering will be used by Prime for exploration and development of the Los Reyes gold-silver project in Sinaloa, Mexico.

Commodity research firm says production growth, weaker demand and negative sentiment in the industry will see iron ore, copper and industrial metals sink next year.