Partners cut ribbon at Yatela mine
With production already in full swing at the Yatela gold mine in western Mali, all that remained to do was open the mine officially.Partners AngloGold (AU-N) and Iamgold (IMG-T) did that on Sept. 8, c…
AngloGold Ashanti Limited
Market slide cut short by tragedy
Denver — Bombing of the World Trade Center in New York on Sept. 11 halted trading among financial markets already battered by bad economic news. The Dow Jones industrial average fell 391.98 points (4…
AngloGold bids for Normandy (September 10, 2001)
Moving to expand and diversify its gold portfolio, AngloGold (AU-N) has launched an all-share bid to acquire Normandy Mining (NDY-T), Australia’s largest gold miner.Creating what it describes as the “…
Dow dips below 10,000 mark
Denver — Growing market pessimism pushed the Dow Jones industrial average below the 10,000 mark, down 224.54 points, or 2.2%, to 9997.49 points during the report period ended Sept. 4. The Nasdaq drop…
Interest rate cut falls flat
Denver — Financial markets sank in response to the U.S. Federal Reserve’s latest quarter-point interest rate cut, sending the Dow Jones industrial average down 238.03 points, or 2.3%, for the report …
Anglogold posts solid results
Vancouver — Despite lower production, the world’s largest gold producer saw its earnings jump 19% in the second quarter.Anglogold (AU-N) posted a profit of US$63 million (or 62 per share) in the thr…
Iamgold profitable in second quarter
Still buoyed by the performance of the Sadiola Hill mine in western Mali, Iamgold (IMG-T) has posted second-quarter earnings of US$2.6 million (or 4 per share) on revenue of US$15.2 million.Sadiola, …
Barrick profits clipped
Lower production and higher power costs at key mines took a bite out of Barrick Gold’s (ABX-T) second-quarter earnings, but the major says it still expects year-end earnings to ring in at about US70 …
Gold miners take a beating
Denver — The Dow Jones industrial average climbed 281.69 points, or 2.8%, during the report period ended July 31 to close at 10,522.81, while spot gold on the Comex division of the New York Mercantil…
Ghana ponders dropping Ashanti’s “golden share”
Denver — Ghana’s Mining Commission has recommended that the government reduce its involvement in the gold industry, by scrapping state participation in mining operations and dropping its “golden shar…
Gold hangs on as market teeters
Denver — The Dow Jones industrial average fell 472.36 points, or 4.4%, to 10,175.64 in the U.S. holiday-shortened report period ended July 10, amid warnings of poor second-quarter earnings. The Nasda…
Market waits for Fed cut
Denver — The prospect of an interest rate cut by the U.S. Federal Reserve held back the Dow Jones industrial average, which sank 124.19 points, or 1.2%, to 10,472.48 for the June 20-26 report period….