Consolidation afoot in Free State
Joint bidders Harmony Gold Mining (HGMCY-Q) and African Rainbow Minerals (ARM) have succeeded in their offer to buy the Free State assets of AngloGold (AU-N) for R2.2 billion in cash.R1.8 billion is p…
Gold Fields Limited
Alcoa tipped in takeover of WMC
The board of directors of Australian-based WMC (WMC-N) are reportedly mulling over an unconfirmed cash-and-share takeover bid, worth as much as US$6.2-billion (A$12 billion), or A$11 per share, from U…
Newmont bid stirs market
Newmont Mining shocked the gold mining world on Nov. 14 by launching a simultaneous, all-share takeover bid for Canada’s Franco-Nevada Mining and Australia’s Normandy Mining. The deal would create the…
US data drag prices lower
Despite fresh production cuts in zinc and copper (in byproduct form), base metals prices continued to trend lower during the report period Oct. 29-Nov. 2, dominated by poor economic data out of the U….
Feds slash key rate to 2%
The biggest market-driver in the U.S. during the report period ended Nov. 6 was the Federal Reserve’s slashing of its overnight lending rate by 50 basis points to 2%, its lowest level in more than 40 …
Gold to rise: TD study
A study by TD Economics into the causes of gold’s misfortunes over the past two decades concludes that prices are likely to trend modestly higher in the coming years.The report, titled Gold’s Lost Lus…
Cut in Bank of Canada rate falls on deaf ears
Hoping to boost investor confidence, the Bank of Canada shed 75 basis points from its key lending rate on Oct. 23, bringing it to a 40-year low. But so far, the decision appears to have backfired: the…
Forum targets diesel reductions
An international forum for the exchange of information on the reduction of diesel emissions in mines will take place Nov. 6-8 at the Embassy Suites Hotel in Markham, Ont.The conference is expected to …
Base metal consumption falls
The extent to which the world has changed since the events of Sept. 11 was made more clear when the base metals industry gathered for LME Week (Oct. 22-26), a major event in the metals calendar year. …
Gold Fields, Repadre to acquire Ghanaian gold mine (October 29, 2001)
South African gold producer Gold Fields (GOLD-Q) and Toronto-based Repadre Capital (RPD-T) have reached a memorandum of understanding with Perth-based Ranger Minerals for the purchase of Ranger’s 90% …
Gold industry needs to develop markets
For four weeks now, we have been seeing the Friday Effect: the gold price goes up in anticipation of military action on the weekend, and gold shares rise along with it. The old “safe haven” theory app…
Gold rally sputters following US retaliation
Well, so much for the gold rally. Prices for the yellow metal began a downward trend during the Oct. 3-9 report period, falling out of a tight US$290-per-oz. trading range and quietly drifting down to…