AngloGold a step closer to selling loss-making Kopanang mine in S. Africa
The decision to offload the asset is part of a restructuring process that includes laying off about 8,500 workers, roughly 30% of the company’s workforce.
The decision to offload the asset is part of a restructuring process that includes laying off about 8,500 workers, roughly 30% of the company’s workforce.
While the company can now proceed with development of Olympias, is still awaiting permits for its Skouries project, the main bone of contention with Greek authorities.
And on futures markets hedge fund bulls now outnumber bears by a ratio of 20 to 1 – the highest since 2012.
Overall, as much as $750 million out of a total of $1 billion in capital expenditures is expected to be spent in Nebraska to establish the facility.
Greek government alleges a technical study for the company’s Madem Lakkos metallurgical plant is deficient and thereby violates environmental terms.
The miners from the Eldorado Gold mine in the Halkidiki region were protesting looming layoffs as the company said Monday it would suspend all operations in Greece.
Citing delays in permits from the Greek government, the company said no additional investment would be made into the Olympias and Skouries projects or the Stratoni mine, which it acquired in 2012.
Gold miners in Western Australia state are being hit with an increase in royalty payments under measures released on Thursday that are designed to return the one-time "economic engine of a nation" to fiscal health via revenue from the mining sector.
Oreninc Index jumps as gold breaks US$1,300/oz.
Justin Trudeau announced that the federal government will inject $247 million into the Yukon’s highway network.