China’s secret gold hoarding strategy
China’s recent stock market gyrations have some analysts now calling China the biggest bubble in history. But those who write off China because of market volatility are missing a more important long-term trend of Chinese geopolitical and monetary ascendancy. That trend shows no signs of abating.
Centerra Gold Receives C$7.13 Average PT from Brokerages
Centerra Gold (TSE:CG) has been given an average recommendation of “Hold” by the six analysts that are currently covering the company, ARN reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price [...]
Ecological gold from Mongolia: Artisanal miners obtain Fairmined Certification
For the first time ever an artisanal and small-scale mining organization outside of South America has reached Fairmined Certification. The Mongolian NGO XAMODX now joins the existing three Fairmined certified organizations. They are the only producer of Fairmined Ecological Gold, a special Fairmined label for Fairmined Gold produced without the use of mercury or cyanide.
Centerra Gold reports Q4 net loss on Kyrgyz impairment charge
TSX-listed Centerra Gold has swung to a fourth-quarter loss, mainly impacted by a significant impairment charge on its Kyrgyz cash generating unit, fewer ounces produced and sold and lower realised gold prices.
Inside the Dangerous World of Amateur ‘Ninja’ Gold Miners
Mongolia is in the midst of an epic gold rush spawning the modern equivalent of the forty-niners who rushed to California in 1849.
Centerra a step closer to moving gold project in Mongolia forward
Canadian miner Centerra Gold (TSX:CG) said Friday that Mongolia’s lawmakers have taken a step that boosts the company’s plans for developing its 1.6-million ounce Gatsuurt gold deposit near its Boroo Mine.
Centerra slides to loss on weaker gold price, inventory charge
Centerra Gold Inc swung to a wider-than-expected loss in the second quarter, results showed on Tuesday, on the back of a lower gold price, higher share-based compensation for executives and a charge for inventory at its Kumtor mine in Kyrgyzstan.
Mongolia tames “Ninja” gold miners to support currency
A tussle between Mongolia’s authorities and some 60,000 “ninja miners” for control over the country’s gold industry captures in microcosm the broader battles that Ulaanbaatar is waging to shore up its slumping tugrik currency and central bank reserves.
Chinese firms go hunting for gold mines overseas
China’s voracious appetite for gold is growing beyond the heightened demand for jewellery and recent boost of its bullion reserves, with local miners increasingly snapping up gold mines overseas, reports The Wall Street Journal.
Mongolian Gold Miners Put Health before Wealth
Ulaanbaatar, Mongolia – Behind the unassuming brick walls of a remote compound in Mongolia’s Mandal district lies what may be part of the solution to the pressing health challenge posed by the use of mercury in artisanal small-scale gold mining.
В Киргизии из-за золотого рудника начались массовые беспорядки
В селе Тамга (на севере Киргизии) утром 31 мая начались массовые беспорядки. Об этом сообщает «24.kg». По информации K-News, большая группа местных жителей вступила в столкновение с милицией, требуя освободить задержанных ранее земляков.
Gold Seen Crushed as Credit Suisse Forecasts $1,100 in Year
Gold, down 17 percent since January, is poised to lose 20 percent in a year as inflation fails to accelerate and with the worst risks to the global economy waning, Credit Suisse Group AG said.
Canada’s Turquoise Hill sells stake in Kazakh gold mine
Turquoise Hill Resources Ltd said on Wednesday that it will sell its 50 percent stake in Altynalmas Gold for $300 million, as the miner looks to focus on the development of its massive Oyu Tolgoi copper-gold project in Mongolia.
Ninja miners: Four pitfalls for Mongolia’s astonishing growth
Traditionally, Mongolian life has been based around herding, with nomadic families sleeping in yurts and tending livestock. That’s why it’s surprising to hear stories like that of Khorloo, a 65-year-old Mongolian who spends her days digging through the Mongolian steppe with metal detectors and shovels, plucking out the occasional gold nugget after days of scratching [...]
Erdene Extends Altan Nar Gold Discovery Zone: Multiple Gold Targets Confirmed
Erdene Resource Development Corp. (“Erdene” or “Company”) , is pleased to announce it has received additional assays from the reconnaissance drill program that began October 7 at the Company’s 100% owned Altan Nar (Golden Sun) gold-polymetallic project in southwest Mongolia.
Centerra Gold Q3 production dwindles, again lowers guidance
Canadian-miner Centerra Gold had reported a sharp decline in third-quarter gold production, as a seven-week shutdown of the mill at the company’s Kumtor mine, in Kyrgyzstan, and lower grades processed impacted on the company’s production.
Как российский бизнесмен едва не стал миллиардером в Монголии, но в итоге потерпел крах
Золотодобывающий бизнес Сергея Паушка оценивался в $1 млрд, но из-за проблем с властью он продал все свои активы за $25 млн
Entrée Gold says share price drop tied to political uncertainty in Mongolia
A recent drop in the share price for Entrée Gold, Inc., has been labeled “disappointing,” but the Canadian mining exploration company working in Mason Valley says it does not feel that decline reflects the underlying value of either of its two main projects, including the Ann Mason Project.
Erdene Proposing Division into Two Public Companies
HALIFAX, NOVA SCOTIA–(Marketwire – Oct. 2, 2012) – Erdene Resource Development Corp. (“Erdene” or “Company”) (TSX:ERD), today announced that it will hold a special meeting of shareholders (“Meeting”) on October 26, 2012 to approve a plan of arrangement (“Arrangement”) to separate its Mongolian metals exploration projects, which will stay within Erdene, from its North American [...]
Centerra shares up on Mongolia approval of Boroo mine project
Mongolia on Wednesday gave regulatory approval to Toronto-listed Centerra Gold for its mine plan to restart using the heap leach facility at its Boroo mine.
Centerra price target boosted as Mongolia project resumes
Centerra Gold Inc. announced earlier this week that it had won regulatory approval to resume its operations at its Boroo mine in Mongolia, prompting a Scotiabank analyst to hike his price target on the company.
Trouble in Kyrgyzstan — Centerra’s Kumtor gold mine is under political attack
Few Canadians have heard of Kyrgyzstan, and fewer still could find it on a map. But the landlocked central Asian republic is of particular interest to one Canadian company, Centerra Gold (TSX:CG). Its Kumtor Mine, located high (over 4,000 metres) in the Tian Shan Mountains, has produced more than 8.4 million ounces of gold since [...]
Gold down to $700 – or up to $7,000? – Diametrically opposed viewpoints.
Bulls will be bulls and bears will be bears. Contrasting viewpoints on the likely path of the gold price abound – no wonder the investor who relies on advice from recognised ‘experts’ in the field just doesn’t know which way to turn – and why the huge majority have continued to ignore gold as an [...]
Mongolia’s “ninja” miners help sate China lust for gold
In a hot, concrete hut filled with acetylene fumes, an elderly Mongolian miner struggles to contain her excitement as she plucks a sizzling inch-long nugget of gold from a grubby cooling pot and raises it to the light.