|

Barrick Mining maybe under provisional administration

ByVictoria

A Malian court has adjourned to Thursday a hearing on whether to put Barrick Mining’s Loulo-Gounkoto gold complex under provisional administration, the court’s registry office and one of the lawyers involved told Reuters on Monday.

Granting the request would represent a major escalation of a dispute between the West African country and the Canadian miner after operations at the complex were suspended in January in a dispute over taxes and ownership.

Barrick has said it can only resume operations when the Malian government removes restrictions on gold exports.

The government has renegotiated agreements with other multinational miners under the new mining law. Four Barrick employees have been detained since November 2024 and an arrest warrant was issued for Chief Executive Mark Bristow in December 2024.

Source – Reuters

Similar Posts

  • / /

    Aya Gold & Silver down

    ByVictoria
    0 Comments

    Shares of Aya Gold & Silver were down Friday after the company reported lower silver production than analysts expected in the fourth quarter.

    The stock retreated 15% to 10.85 Canadian dollars ($7.58).

    Silver production in the fourth quarter totaled 491,310 ounces, compared with 450,046 ounces in the same period a earlier.

    Source – Market Watch

  • / /

    Precious metals fall, Gold eased

    ByVictoria
    0 Comments

    Gold prices slipped more than 1% on Tuesday, as optimism over trade deals between U.S. and its trading partners weighed on safe-haven flows, with a firmer U.S. dollar and rising Treasury yields adding further pressure.

    Spot gold eased 0.8% to $3,307.16 per ounce, as of 01:49 p.m. EDT (1749 GMT), after hitting its lowest in over one week earlier in the session. U.S. gold futures settled 0.8% lower at $3,316.9.

    “Focus is on trade as the July 9 deadline nears, with the Trump administration ramping up pressure. But some optimism related to trade deals is fuelling risk-on sentiment, keeping gold subdued,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.

    Spot silver lost 0.3% to $36.64 per ounce, platinum dropped 0.8% to $1,359.90, while palladium was flat at $1,111.36.

    Source – Reuters

  • /

    Gold rises with new record

    ByVictoria
    0 Comments

    “We could envision a situation where inflation migrates higher, while the economy slows down as the auto sector grinds to a sudden halt, for example,” said Bart Melek, global head of commodity strategy at TD Securities.  “Higher inflation and low rates, and the associated angst with the president’s imposition of tariffs, so uncertainty and risk are helping gold.” 

    “These tariffs create a strong tailwind for gold,” Bank of Montreal analysts wrote in a note. “Not only because of their inherent inflationary effects but also as the USA’s increasingly hawkish foreign policy may accelerate de-dollarisation plans.”

    Source – Bloomberg

  • /

    Gold reaches Rs 83,000 per 10 grams for the first time

    ByVictoria
    0 Comments

    “Gold extended gains on Friday, with spot gold in the domestic market hitting fresh all-time highs,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.

    “Prices in MCX are near record high as Trump trade policies and tariff plans created an uncertain environment in the market, which may boost safe-haven demand,” Deveya Gaglani, Research Analyst-Commodities, Axis Securities, said.

    Comex silver futures also increased 1.53 per cent to USD 31.32 per ounce in the Asian market hours.

    Source – Press Trust of India

  • / /

    Over the weekend!

    ByVictoria
    0 Comments

    ‘Pivotal Moment’—Coinbase CEO Predicts When Bitcoin Price Could Flip Gold’s $18 Trillion

    “Any country with gold reserves should be holding at least 11% of that amount in bitcoin reserves,” Armstrong posted to X in response to criticism of Trump’s plan for a national bitcoin reserve. “And I believe in the next five to 10 years bitcoin’s market cap will likely surpass gold. So these reserves should grow to exceed gold.”

    “We’re gonna do something great with crypto because we don’t want China, or anybody else … but others are embracing it, and we want to be ahead,” Trump told CNBC.

    Source – Forbes

    Korea Zinc’s shares rose sharply

    The stock climbed 12% on Friday, its steepest one-day gain in nearly two months, outperforming the benchmark Kospi index’s 0.85% rise.

    The extraordinary shareholders’ meeting had initially been called by private-equity firm MBK Partners and Korea Zinc’s major shareholder Young Poong, which have teamed up and increased their combined stake to more than 40% since September for control of the smelter, to reshape its board and management led by Chairman Yun B. Choi.

    Source – The Wall Street Journal

  • Over the Weekend!

    ByVictoria
    0 Comments

    Texas proposes gold and silver-backed currencies to compete with fiat money

    “Under the proposed law, the Texas Comptroller would issue gold and silver specie (coins) through the Texas Bullion Depository and also establish gold and silver transactional currency defined as ‘the representation of gold and silver specie and bullion held in the pooled depository account,’” wrote Mike Maharrey, Communications Director at the Tenth Amendment Center. “The Depository would be required to hold enough gold and silver to back 100 percent of the issued currency.”

    If approved, the bills would enable “Holders of gold and silver specie and currency to use them as ‘legal tender in payment of debt,’ in the state of Texas,” he noted. “The gold and silver-backed currency would be electronically transferable to another person. Gold and silver-backed currency would be redeemable in specie or at the spot price of gold in U.S. dollars minus applicable fees.”

    Source – KITCO News

    Northeast Numismatics has special Lexington-Concord commemorative

    Northeast Numismatics of Concord, Massachusetts, is the lone supplier of the special 2025-dated commemorative coin altered for this occasion. “We realized we were coming up on the 250th anniversary a few years ago and got the idea to do something special,” said Northeast owner Tom Caldwell.

    Source – Coin World

    First Amendment Final Coin

    The five-year (2021-25) First Amendment to the United States Constitution coin series concludes this month with the release of the final issue.

    The $100 platinum proof coins are priced at $1,545, and mintage is limited to 9,000. To order, visit the U.S. Mint’s website.

    Source – The Reading Room