Shanghai group

Gold futures rose Friday, marking their first weekly gain in four as a weaker U.S. dollar and record-low interest rates boosted the metal’s investment appeal.
The dollar was under renewed pressure Friday after China’s central bank reiterated a veiled call to lessen the currency’s role as the world’s reserve currency. The Federal Reserve said Wednesday its [...]

With interest in gold as a safe investment option continuing, demand for the yellow metal is likely to rise after the prices stabilise between Rs 14,500 and 15,000 per 10 gm, experts say.
“As the prices have stabilised, we can say that till July demand for gold will rise and the imports will also go [...]

Subiaco-based Chrome Corporation will move into the gold sector after it struck a deal to acquire Papua New Guinea explorer Pacific Nuigini Minerals.
Subject to approvals, Chrome has agreement to issue two of its shares for every one Pacific share and will give Pacific option holders an option to acquire a Chrome share at 20 [...]

Mongolian President-elect Tsakhiagiin Elbegdorj wants to change a proposed gold and copper mining deal with Rio Tinto Group and Ivanhoe Mines that would allow the government to buy an equity stake in the project.
“I am not in favor of that,” Elbegdorj said yesterday in an interview with Bloomberg News in the capital Ulan Bator, suggesting [...]

Compania de Minas Buenaventura S.A.A. (the “Company” or “Buenaventura”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, announced Monday that protestors from several communities surrounding the Orcopampa gold mine have blocked the access road leading to Buenaventura’s Orcopampa Operating Unit.
The communities’ initial claim was related to labor issues to which [...]

Premium Exploration, Inc. (TSX VENTURE:PEM) (”Premium” or the “Company”) is pleased to provide the following corporate update. The Company’s focus for the foreseeable future is the exploration and development of the gold mineralization along the Orogrande Shear Zone in Idaho beginning with the Friday-Petsite project. During this development, Premium will also advance the PGM Chrome [...]

Hambledon, the AIM quoted gold mining company operating in Kazakhstan, is pleased to report on its gold production for the months of April and May 2009. It is taking this opportunity to update shareholders alongside the announcement of its preliminary results for the financial year to December 2008 issued today. The quarterly update will be [...]

A move by Africa’s second-largest gold miner to sell a 19.83 per cent stake in Sino Gold Mining Ltd was not a vote of no-confidence in his company, Sino Gold chief executive Jake Klein says.
Mr Klein said the decision by South African miner Gold Fields to offload the stake in Sino Gold was strategic.
“Gold Fields [...]

Aurizon Mines Ltd. (TSX: ARZ; NYSE Amex: AZK) is pleased to report the discovery of two new mineralized trends, respectively north and south of the Heva-Hosco gold bearing trend, at its Joanna project, located 20 kilometres east of Rouyn-Noranda, in north-western Quebec.
Highlights include 6.8 grams of gold per tonne over 3 metres intersected approximately 1 [...]

As Australian gold production is set to rise for first time in 12 years, the country could overtake South Africa and possibly even the U.S. in the global gold production league table.
Australia’s annual gold production is set to rise for the first time in 12 years in 2009 as new mines start up and existing [...]

Maximus Resources Ltd has put its most prized asset up for sale, resigned to the belief it will not be able to raise enough funds to develop the project as its first major mine.
The cash-strapped gold miner on Wednesday said its high-grade Bird-in-Hand gold project in the Adelaide Hills has been put on the market [...]

– Gold reserves increase 30% to 64.2 million ounces – Silver reserves increase 16% to 1.2 billion ounces
ROYAL GOLD, INC. (Nasdaq: RGLD; TSX: RGL), a leading precious metals royalty company, today announced updated estimates for ore reserves, additional mineralization, and calendar 2009 production forecasts for its royalty portfolio. Updated reserves, additional mineralization and production [...]

Shares in OZ Minerals rose after the miner announced an increase in resources at its Prominent Hill copper and gold mine in South Australia.
OZ Minerals shares were up two cents, or 2.8 per cent, at 74 cents in afternoon trading.
OZ Minerals said resources at its Western Copper deposit had increased 32 per cent to [...]

Thursday, a report by Statistics South Africa said the volume of mining output dropped 4.6% year-on-year in March, reflecting a 7.6% fall in gold output and a 4.1% decline in non-gold output.
Month-on-month, mining output slipped 4.7% in March, mainly due to a 5.5% fall in non-gold output. However, gold output rose 0.8%.
In the [...]

Higher metal prices and more gold output, thanks in part to the Cerro Corona mine in Peru, helped South African miner Gold Fields (NYSE: GFI) increase net profits for its fiscal Q3 ending March 31 to US$140mn from US$54mn in the previous quarter, the company said in a statement.
Cerro Corona, commissioned in August 2008, [...]

Expected to be one of the lowest cost gold mines in the world
Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) –
All amounts expressed in US dollars unless otherwise indicated.
Highlights:
- Long-life asset with expected 25+ year mine life and attractive economics
- $20-$50 per ounce average annual total cash costs expected in first full 5 years
- Average annual production of [...]

Central China Goldfields is putting its Dong Mao Huo gold mine into production quickly through a contract mining deal allowing it to concentrate on the larger Nimu copper project.
Shares in Central China Goldfields (AIM:GGG) jumped over 30% after the company said it had entered into an agreement with a subsidiary of Chinese Government Investment Company, [...]

Australia’s Resolute Mining will start commercial gold production at its Syama mine in Mali in July, the firm’s general manager in the West African country said on Tuesday.
Syama, which has cost $189 million so far, is forecast to produce 250,000 ounces of gold per year when running at full capacity, which at current world prices [...]

Copper futures dropped Tuesday for a second session, as gloomy earnings reports from Caterpillar Inc. and other Dow industrials components fueled economic fears, reducing demand for the critical industrial metal. Gold also ended lower.
Construction and mining-equipment firm Caterpillar reported a first-quarter loss Tuesday, compared with a profit a year earlier. It also cut its sales [...]