(Kitco News) – Gold prices ended the U.S. day session modestly higher Monday. The precious metal was given a boost by a weaker U.S. dollar index. There was also some fresh safe-haven buying interest in gold Monday as North Korea’s leader continues to make threatening comments toward the U.S. and South Korea. June Comex gold last traded up $4.20 at $1,599.90 an ounce. Spot gold was last quoted up $2.00 at $1,600.00. May Comex silver last traded down $0.353 at $27.97 an ounce.
In Southern Mexico, Fortuna Silver Mines Inc. (TSX:FVI)(NYSE:FSM) has been quietly and steadily building its San Jose Mine, moving it from an exploration project to a growing commercial silver and gold producing mine.
IRVING, TEXAS — Fluor Corporation (NYSE: FLR) announced today that the company was awarded a series of follow-on contracts from Toronto-based Barrick Gold Corp for new scopes of work at the Pascua-Lama mining project located on the Argentina/Chile border. Fluor booked the undisclosed value into backlog in the fourth quarter of 2012.
Over the last decade Russia’s Central Bank acquired 570 metric tonnes of gold. The amount is almost triple the weight of the American Statue of Liberty and makes Russia the world’s biggest buyer of gold.
Rio Tinto is looking into restarting its Panguna mine in Papua New Guinea, one of the world’s largest sources of copper and gold.
Silver Wheaton Corp said on Tuesday it had signed a $1.9 billion deal with Brazil’s Vale SA to acquire a share of the gold produced at some of the company’s mines in Brazil and Canada.
But what happens up here in Pascua-Lama, where Canadian mining giant Barrick Gold is developing the first open-pit gold mine to straddle two countries, will have a huge impact on the people living in the valleys below on both sides of the border — for better or for worse.
MANILA, Philippines—Swiss mining giant Xstrata has set back the commercial production of its $5.9-billion project in the Philippines to 2019 due to problems with security and the government, the company said Wednesday.
KHARTOUM, Nov 27 (Reuters) – Sudan expects to produce around 50 tonnes of gold this year, earning $2.5 billion, its mining minister said, as the country seeks to offset the loss of most oil reserves when South Sudan became independent last year.
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