mineral exploration project – commodity prices – mining stock- trade and market

The world’s second largest gold producer said it plans to link its dividend to gold prices and added it would raise production by more than a third by 2017.

Newmont Mining Corp , the second-largest gold producer in the world, plans to link its dividend to gold prices, and said it will target to raise production of the precious metal by more than a third by 2017.

Denver-based Newmont’s shares, which have trailed the Arca Gold Bugs Index since the beginning of the year, rose 4 percent to $58.72 in early trade. The index, which tracks 16 of the world’s largest bullion...

Horizonte, the AIM quoted exploration and development company focused on Brazil, is pleased to announce that it has signed a US$4.5 million earn in agreement on its 100% owned Falcao gold project, located in the Carajas Mineral Province of northern Brazil, with major gold producer and exploration partner, AngloGold Ashanti Limited.

Highlights

- AngloGold can earn into 51% of the Falcao project by spending US$4.5 million on exploration and development over three years

- First year cash commitment of US$900,000 on exploration funding

- Fast track drill programme to...

East Asia Minerals Corporation announces that an independent third party verification has been completed for diamond drill core collected at the Company’s Miwah Gold Project in Aceh Province, Northern Sumatra, Indonesia. The results from this most recent study, completed by an independent consulting firm, have validated the veracity of gold assays reported by East Asia Minerals for drill core sampled throughout the course of exploration at its flagship Miwah Gold Project.

This independent third party validation was conducted for drill holes EMD001 to EMD030 and complies with East...

Cliffs Natural Resources Exploration recently purchased more than 2.4 million common shares of Riverside Resources Inc. — a Vancouver-based mineral exploration company — for $1.45 million.

Cliffs Natural Resources Exploration recently purchased more than 2.4 million common shares of Riverside Resources Inc. — a Vancouver-based mineral exploration company — for $1.45 million.

In June Cliffs and Riverside signed an agreement to explore and acquire iron oxide-copper-gold projects in Mexico.

“This investment by Cliffs into Riverside solidifies the partnership between...

Lihir Gold shareholders have voted almost unanimously to accept Newcrest Mining’s $10.6 billion scrip-and-cash takeover offer.

The deal will create the world’s fourth-biggest mining company.

With no sign of a white knight emerging, the vote, in Port Moresby yesterday, makes the acquisition almost a formality, with Papua New Guinea National Court approval of the deal scheme of arrangement the only hurdle.

At the meeting, 99.86 per cent of all votes cast were in favour of the deal, which will see Lihir shareholders receive 0.12 Newcrest shares and 22.5c for every...

China’s gold producers will extend this quarter’s rally as demand for the precious metal increases and inflation exceeds government forecasts, according to Central China Securities Holdings Co. and Guoyuan Securities Co.

Zijin Mining Group Co. and Zhongjin Gold Corp., the nation’s two biggest bullion producers, are good investments as consumer prices are expected to rise around 3.5 percent this month, Li Jun, a Shanghai-based strategist at Central China, said in an interview yesterday. Inflation accelerated to 3.3 percent in July, the highest since October 2008.

“In this...

Gold held above $1 230/oz an ounce in Europe on Friday as concern over the outlook for the global economy supported interest in the metal as a haven from risk, but gains were capped by fresh strength in the dollar.

Spot gold was bid at $1 230,45/oz at 09:26 GMT, against $1 230,10 late in New York on Thursday. US gold futures for December delivery eased $2.80 to $1,232.60.

The precious metal rose to a peak of $1 237,15/oz on Thursday after weak US jobless and manufacturing data knocked the dollar and boosted interest in assets seen as lower risk. It later pared those gains as the...

Stocks and the dollar dropped and Treasuries rallied, sending the yield on the two-year note below 0.5 percent for the first time, as lower-than-estimated growth in company payrolls added to evidence the economic recovery is slowing. Gold extended the longest advance since November.

The Standard & Poor’s 500 Index lost 0.4 percent to 1,121.64 at 4 p.m. in New York, trimming a drop of as much as 1.7 percent. The Stoxx Europe 600 Index decreased 1.1 percent, reversing earlier gains. Two-year Treasury yields fell to as low as 0.4977 percent. The dollar slumped to an eight-month low...