Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
Iamgold said all employees and contractors at its Burkina Faso mine are now safe, after a mine convoy was attacked on Friday.
Iamgold said two individuals who were missing following Friday’s incident have been safely located. The convoy was transporting staff and contractors, with 33 people in three buses and three supply trucks.
“The Essakane mine site remains secured and our operations are not affected,” Iamgold said in a statement on Monday.
Essakane, in northeastern Burkina Faso, is Iamgold’s biggest operating mine, producing 364,000 ounces of gold in 2020 – more than half the company’s overall production.
Toronto-listed shares in Iamgold fell 5.8% on Friday after the incident.
Another Iamgold convoy was attacked on its way to Essakane in September, causing the company to suspend convoys.
Islamist militants carry out frequent raids in the area near Burkina Faso’s borders with Mali and Niger.
(By Helen Reid; Editing by Louise Heavens)
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