CAPITAL MARKETS

Gold at four-month high

Nudging US$1,900/oz

Staff reporter
 Visible gold from recent drilling at Osisko Mining’s Windfall project in Canada

Visible gold from recent drilling at Osisko Mining’s Windfall project in Canada

The lift comes as more US Federal Reserve officials join a chorus downplaying price pressures, Bloomberg reported, allaying some inflation concerns.

It was worth $1,898/oz at the time of writing.

It meant a positive session for most gold stocks in Toronto, where Canada-focused explorer Osisko Mining (TSX: OSK) was up 3.01%.

However Centerra Gold (TSX: CG) slid 4.67% as its woes continue in the Kyrgyz Republic, where the government has seized control of its flagship Kumtor mine for three months, citing health and safety concerns. 

Africa-focused developer Ivanhoe Mines rose 4.53% in Toronto, with copper production imminent at its Kamoa-Kakula joint venture in the Democratic Republic of Congo.

On the TSX Venture Exchange, Noront Resources (TSXV: NOT) shot up more than 29% on news Australian mining billionaire Andrew Forrest's Wyloo Metals intended to make a premium offer for the remaining shares in the nickel-copper-palladium hopeful, valuing Noront at C$133 million.

Mining majors were lower in London, where Anglo American lost 2.36% and Glencore 2%.

Finally, key market futures were mixed.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.