QMX hits 101 metres of 2.31 g/t gold at Bonnefond

Co-President Kelvin Dushnisky will take over as president as the world’s largest gold producer restructures management to boost efficiencies.

Not metaphorically, but literally – the deep sea is a gold mine, and that is just scratching the surface.

The company will review the conditions and submit comments to the National Energy Board next week.

Total bullion demand dropped 12% in the second quarter of the year, due in part to directionless prices, the WGC says.

Experts say the main reason behind such debacle is a combination of steadily rising production, pipeline constraints and an unexpected outage at a U.S. refinery.

About 90% of China’s rare earth producers are currently operating at a loss as prices for the coveted elements continue to drop due to a global glut and illegal mining.

But gold is, so far, profiting from the situation, heading for its longest winning streak in three months.

The decision of the People's Bank of China (PBOC) to devalue the yuan by 1.9% sent most mining stocks and commodities down the slippery slope.

Stock markets in Canada and the United States fell sharply on the news that China had allowed the yuan to drop 2%.