Gold

Venezuela will nationalise its gold industry and is moving its international reserves out of Western countries, says President Hugo Chavez.

Harmony's operating performance for the year to June fell short of management's guidance but profits and dividend are up and so is the share price.

The first of 2,500 laid-off workers at Pamodzi Gold’s Orkney mine may be back at work by the end of October if the court this week approves the R150m buyout offer.

Gold Fields has significantly benefitted from the rising gold price during the June quarter, managing to translate a 5% production increase into 15% earnings growth.

Gold Fields CEO Nick Holland remains confident that nationalisation will not happen, although he concedes it is increasingly worrying foreign investors.

An AngloGold Ashanti worker has been killed at the Mponeng mine after a seismic event, bringing mining operations to a halt in the affected area.

Aurora Empowerment Systems has stunned unions and drawn the anger of liquidators, saying it should be refunded for losing its preferred bidder status of the Pamodzi Gold assets.

The rand price of gold has risen close to 30% since January, yet analysts are unsure whether higher margins will rally local gold equity prices.

While gold hovers near a lifetime high, traders say the Federal Reserve’s promise to keep interest rates low should benefit the precious metal.

Gold One International has received approval from SA's competition authorities to go ahead with its two significant transactions.