Africa's biggest gold miner AngloGold Ashanti said on Friday it would acquire a 19.79 percent stake in Canadian gold and uranium producer First Uranium Corp for $30 million.
AngloGold said it would buy the stake, which consists of 47 million shares and priced at $0.64 a share, from South Africa's Village Main Reef Gold Mining.
Doray Minerals Ltd (ASX: DRM) today announced several high-grade gold intersections from the company's 80% owned Andy Well project that have the potential to significantly increase the size of the existing high-grade Wilber Lode resource.
South African National Union of Mineworkers' members at diamond producer De Beers Consolidated Mines started a strike on Friday after wage talks failed, a union spokesman said.
The union wants a 15 percent rise in wages, while De Beers is offering 7.5 percent and a once off payment of 2,500 rand ($367).
Namibia plans to raise its mining tax to 44 percent from 37.5 percent but said the hike will not apply to diamond mining companies, the ministry of finance said in a statement on Friday.
The ministry said the country is facing volatility in its key revenue sources and is looking to strengthen revenue collection.
Time for picking up bargain gold stocks may be nearing a close but the key is to look for companies with great projects in mine-friendly jurisdictions, but more importantly, a management team that can get things done.
With gold once more assaulting new highs, part of the potential demand for the yellow metal in India and China has been withdrawn, but the indications are that it will return.
London and Toronto: Minera IRL Limited ("Minera IRL" or the "Company"), (TSX:IRL) (AIM:MIRL) (BVL:MIRL) the Latin American gold mining company, is pleased to announce that an Ollachea general assembly meeting has fully endorsed the progression of the
Axmin has signed a mandate letter with South African bank to underwrite a $100 million loan, and help source another $130 million to finance Passendro gold mine in Central African Republic.
Global are focussed on developing advanced gold, base metal, tin and tungsten exploration projects in the Northern Territory and New South Wales, and the company's flagship Mount Porter gold project in the Northern Territory.
In calling for the U.S.to take ‘responsible' measures on the economy and debt, China's FX regulator says country can't buy too much gold as the market is too small.
Gold Forecaster's take on today's downturn in gold and silver prices as signs of a break in impasse over U.S. debt ceiling and in Eurozone Greek solution.
