Tuesday, July 17, 2018

Gold is expected to surge higher than $1,400/oz, but the experts are at loggerheds about how long the commodity will stay at the top.

AngloGold Ashanti expected its Obuasi mine in Ghana to produce about 400,000 ounces a year from 2012, a 14% uplift.

Harmony has recovered the body of one of two miners who had gone missing after a tremor at the Bambanani mine, which forced the suspension of operations.

Galaxy Gold was unfazed by the JSE's ruling preventing it from a proposed listing, saying the action was "not a show stopper'.

The gold price shot through a fresh all-time high after the release of grim US economic data.

Participants at the London Bullion Market Association annual conference voted that gold would reach at price of $1,406/oz in the coming 12 months.

Operations at Harmony Gold's Bambanani mine in South Africa has remained suspended after an earth tremor.

AngloGold Ashanti believes the decision to unwind the bulk of its gold hedgebook reflects the company's confidence in the likely direction of the gold price.

The proposed listing of Galaxy Gold has been put on ice after the JSE raised concerns about the firm's mining rights.

Harmony Gold Mining Company said on Monday afternoon that rescue workers are searching for two employees following a seismic event.