Guardvant Continues Strong Growth in Mexico
Guardvant cements its leadership position in Mexico for fatigue monitoring systems with additional orders for OpGuard
Guardvant cements its leadership position in Mexico for fatigue monitoring systems with additional orders for OpGuard
Co-President Kelvin Dushnisky will take over as president as the world’s largest gold producer restructures management to boost efficiencies.
Currency wars and hedge fund short covering lift gold price sending investors piling back into gold mining stocks.
The company, which runs the massive Grasberg mine in Papua, has stopped exporting since last month.
The cuts represent 14% of what was once a 4,300 workforce.
"In today's environment cost cutting is simply not enough."
World's number one gold miner announces program to sell more mines, make deeper cost cuts after completing scenario-planning for a triple digit gold price.
The company also said it will spend between $850 and $900 to produce an ounce of gold this year, less than its previous forecast of between $875 and $950.
This is the second time this year that the London-listed miner slashes its annual copper production guidance.
Power restrictions could hit output of most copper mines operating in the country.