AngloGold Ashanti Ltd. (AU) said Thursday that it has achieved commercial production at the Boston Shaker underground mine in Australia. The South Africa-based gold miner said the mine is set to deliver around 1.1 million tons of ore per year. The London-listed company also said that the underground mine will also achieve payback in just over three years.
SYDNEY--Rio Tinto PLC (RIO) downgraded its guidance for annual production of refined copper following setbacks at its Kennecott mine in Utah. Rio Tinto said it now expects to produce between 135,000 and 175,000 metric tons of copper in the 12 months through December, down from an earlier forecast of 165,000-205,000 tons. Rio Tinto said it has experienced delays to the restart of the smelter at the Kennecott operation, citing "unexpected issues that appeared following planned...
BHP Group Ltd. (BHP) left its guidance and production figures unchanged for all commodities as it reported fiscal 2020 results Tuesday. However, the world's largest listed miner by market value said it will seek to exit its thermal coal business to focus more on higher-quality coking coal, which is used in steelmaking. The Melbourne-headquartered miner was also cautious on the outlook for the commodities it mines, saying that while the initial demand shock due to Covid-19 has likely...
Questions about gold often get to the heart of what's going on in finance and economics. Ask why the price is up so much this year, and the most popular answers are ones that might make the heart miss a beat: The Federal Reserve is creating so much money that serious inflation is on the way, or the dollar is heading toward inexorable decline. Some weird things have been under way with gold since the coronavirus crisis began, however.
Gold prices closed slightly higher after a wild trading session Wednesday, extending a volatile spell for the market as climbing yields on U.S. government bonds sap investors' appetite for the precious metal. Futures contracts for delivering gold in December, which notched a record high just last week, ended the day up 0.1% at $1,949 a troy ounce in choppy trading. Prices moved in a wide range overnight and during the regular session in New York, between a low of $1,874.20 and a high of...
Gold prices wavered Wednesday, extending a volatile spell for the market as climbing yields on U.S. government bonds sap investors' appetite for the precious metal. Futures contracts for delivering gold in December, which notched a record high just last week, slipped 0.3% to$ 1,940.80 a troy ounce in choppy trading. Prices moved in a wide range, between a low of $1,874.20 and a high of$ 1,956.40.
President Nixon in 1971 ended a quasi gold standard involving a fixed gold-dollar conversion price, letting the dollar float freely against other currencies. "Gold Climbs to All-Time High, Topping 2011 Record-- Update" at 2:00 p.m. ET on July 24, incorrectly said Mr. Nixon simply ended the gold standard that year.
Rio Tinto PLC (RIO) produced more iron ore, bauxite and alumina in the six months of 2020 despite the threat posed by the coronavirus and national lockdowns. Copper output fell, however, while refined copper production was harmed by an earthquake. Rio Tinto left its production guidance for 2020 unchanged for all commodities.
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