After seven consecutive weeks of highs, gold prices stabilized last Thursday after the US released employment figures that could potentially impact interest rates in the country.
Expected increase in Chinese demand is driving a rise in copper prices.
Coeur Mining saw a 45.28 percent decrease in its trading volume in comparison to its normal average daily volume.
In 2Q17, Alamos Gold produced a quarterly record of 105,900 ounces of gold at cost of sales of US$1,053/oz. The results included a record gold production of 47,300 ounces at Young-Davidson mine driven by underground grades averaging in excess of 3g/t of gold.
Analysts at National Bank Financial increased their year-end 2019 earnings per share (EPS) estimates for Capstone Mining to US$0.29 per share for the year in comparison to their previous forecast of US$0.27.
Thanks to its higher silver and gold output in 2Q17, Fresnillo announced last Wednesday that it is on track to fulfil its 2017 guidance. The company produced 14.5 million ounces in this quarter, a 7.3 percent rise from 1Q17 and its gold production rose 2.7 percent in comparison to the previous year to 233,000 ounces. The company expects to produce between 58-61 million ounces of silver and gold output of 870,000-900,000 ounces in 2017.
Goldcorp announced the closing of its 107-year old Dome mine in Timmins, Ontario, one of Canada’s oldest mines and longest continuously operating mine. Along with two other mines, Hollinger and McIntyre, the Dome mine marked the beginning of the Canadian mining industry in the early 20th century.
Great Panther’s acquisition of the Coricancha mine in Peru could increase the company’s production by 75 percent.
Over the next three weeks, the International Seabed Authority is meeting in Jamaica to create a draft of environmental regulations for deep sea mining. Its objective is to meet the UN’s mandate to preserve biological diversity in the seabed while allowing the extraction of metals