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.
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 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.
Mongolia: Centerra Gold Inc. Flouting Mongolia’s Environmental Protection Laws – Organizations File Complaint With Canadian Government
A consortium of Canadian and Mongolian organisations has filed a complaint with the Canadian government over apparent violations of Mongolian law and international corporate responsibility guidelines by Centerra Gold Inc. in its Mongolian operations.
Since 2000, dollar down 22%, gold up around 500% – Which the better safe haven?
The Gold Report: In a recent edition of the Frontier Research Report, you wrote, “As perplexing and disconcerting as it may be, the performance of major global stock markets currently has a much stronger influence on share prices in the mining sector than the actual performance of the underlying commodity.” How is that different from [...]
Centerra Gold Updates Reserves and Resources Total Gold Reserves 8.1 million Contained Ounces
This news release contains forward-looking information that is subject to the risk factors and assumptions set out on page 14 and in our Cautionary Note Regarding Forward-looking Information on page 16. All figures are in United States dollars.
Undur Tolgoi Minerals Inc. Announces Winter Work Program Over Mongolian Property
Undur Tolgoi Minerals Inc. (“UTM” or the “Company”) (cnsx:UTM) is pleased to announce that its Board of Directors has reviewed and unanimously approved an exploration Program (the “Work Program”) for the Company’s Mongolian property.
Why Are the Chinese Buying Record Quantities of Gold?
This month, the Hong Kong Census and Statistics Department reported that China imported 102,779 kilograms of gold from Hong Kong in November, an increase from October’s 86,299 kilograms. Beijing does not release gold trade figures, so for this and other reasons the Hong Kong numbers are considered the best indication of China’s gold imports.