Roman Coins Thought for Centuries to Be Fakes Get a Fresh Appraisal – by April Rubin (New York Times – November 27, 2022)

New research suggests that the gold coins, which were found in 1713 and long dismissed as forgeries, may be authentic.

In 1713, a medals inspector documented the acquisition of eight gold Roman coins that had been buried in Transylvania. For centuries, experts believed them to be forgeries — and poorly made ones, at that.

The coins featured the image of an otherwise unknown leader and characteristics that differed from other mid-third century Roman coins. But now researchers who have re-examined the coins, which were in a collection at the University of Glasgow, say they may, in fact, be authentic.

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Burkina Faso’s vanishing gold boom puts livelihoods at risk – by Anne Mimault and Helen Reid (Reuters – November 28, 2022)

OUAGADOUGOU, Nov 28 (Reuters) – A gold mining boom in Burkina Faso over the last decade propelled Boukary Diallo from being a vendor on a market stall to running a meat business supplying a mine near Ouahigouya, his home town in the north of the country.

But as the West African country loses territory to Islamist militants and lurches from coup to coup, threatening to turn the boom to bust, Diallo is concerned he will be unable to retain all of his ten employees.

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Barrick Gold faces Ontario lawsuit for alleged killings and abuses at Tanzanian mine – by Geoffrey York (Globe and Mail – November 24, 2022)

Two law firms have filed suit against Barrick Gold Corp. in Ontario Superior Court on behalf of 21 Tanzanians who allege that they or their family members were killed, injured or tortured by police guarding a Barrick gold mine.

The case, filed on Wednesday morning, is the first to be pursued against Barrick in Canadian courts for alleged human rights violations at its mines abroad. It follows a landmark Supreme Court of Canada ruling in 2020 that allowed a Vancouver-based mining company to be sued in British Columbia for alleged abuses in Eritrea.

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Australian gold company targets growth at White River mine – by Staff (Northern Ontario Business – November 17, 2022)

Silver Lake Resources invests in new buildings, processing equipment at Sugar Zone Mine

The new Australian owners of the Sugar Zone Mine continue to sink investment into the underground operation near White River.

Silver Lake Resources reported it’s made “significant progress” at the mine with expenditures of almost $9 million the company’s past September quarter. Most the spending has been on processing equipment and new buildings.

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‘Others buy, Barrick builds’ – Bristow – by Staff ( – November 21, 2022)

Bullion major Barrick Gold’s portfolio of gold and copper assets is projected to show strong growth over the next five to ten years, president and CEO Mark Bristow said at an investor meeting in New York on Friday.

The unlocking of value at the Pueblo Viejo gold mine in the Dominican Republic, following the finalisation of the location for the new tailings storage facility, would support that growth, he said.

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Peter Marrone has few regrets as he prepares to exit Yamana Gold after a nearly 20-year run – by Niall McGee (Globe and Mail – November 17, 2022)

Peter Marrone has few regrets as he prepares to walk away from the big Canadian gold mining company he founded and is now poised to sell to a pair of Canadian precious metals companies.

Last week, Toronto-based Yamana YRI-T agreed to sell itself to Agnico Eagle Mines Ltd. and Pan American Silver Corp. for US$4.8-billion. That offer topped an earlier and deeply unpopular bid by South African miner Gold Fields Ltd., which was originally worth US$6.7-billion.

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Can you put a price on the impact of Yellowknife’s Giant Mine? – by Sidney Cohen (CBC News North – November 16, 2022)

Quantifying, in dollar terms, the effect of the mine on the economy, environment and people is complicated

Last week, the federal government revealed that cleaning up Yellowknife’s Giant Mine is now projected to cost $4.38 billion instead of $1 billion. This is, by one measure, greater than the mine’s total estimated revenues during its operation.

Quantifying, in dollar terms, the impact of the mine on the local economy, the environment, and the people who live on and use the area’s land and water is complicated, if not impossible.

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The central bank of almost every country in the world owns gold — except Canada. Here’s why that’s a mistake – by Frank Giustra (Toronto Star – November 11, 2022)

Since 2010, central banks around the world have been stocking up on gold, recently at an accelerated pace. But Canada continues to shun the trend, writes Frank Giustra.

Gold is money, full stop. It’s not a shiny pet rock, as the crypto crowd might want to believe. And it’s not some antique instrument that no longer serves a purpose in this new digital world.

It has been used as money for thousands of years and while paper currencies have all come and gone (mostly to zero), gold has always retained its value. For that reason, the central bank of almost every country in the world owns gold — some more than others — as part of their foreign exchange reserves.

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Gold prices jump 1% as U.S. CPI rises 7.7% for the year in October – by Neils Christensen (Kitco News – November 10, 2022)

(Kitco News) – Gold prices are on the move, jumping 1% immediately following weaker-than-expected inflation numbers. Thursday, the U.S. Labor Department said its much-anticipated Consumer Price Index rose 0.4% last month after a 0.4% rise in September. Economists were looking for an increase of 0.6%.

For the year, inflation pressures rose 7.7%, significantly below expectations for a 7.9% rise. In September, annual inflation was 8.2%. “This was the smallest 12-month increase since the period ending January 2022,” the report said.

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IAMGOLD digging for funds to finish Gogama open-pit mine project – by Staff (Northern Ontario Business – November 9, 2022)

Toronto mining company weighs financing options while aiming for early 2024 production start

IAMGOLD is scrounging for funds in order to push its Côté open-pit mine project across the construction finish line. The Toronto gold company made the admission in releasing its third quarter financial and production numbers this week, reporting revenues of US$343.3 million, a net loss of $108.3 million and its highest quarterly gold production in two-and-half years from its other mines in Burkina Faso, Suriname and Canada.

At the end of September, the Côté project was 64 per cent complete as activity heads into a peak construction period with approximately 1,500 workers at the site. The company is aiming for a first gold pour and the start of mining at Côté early in 2024. So far, everything is on schedule.

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WGC calls miners to plan for further climate change risks – by Cecilia Jamasmie ( – November 9, 2022)

The World Gold Council (WGC) is urging bullion miners to implement more consistent, systematic planning and wider collaboration, including closer engagement on risks with local communities, to deal with climate-related challenges.

In its Gold and climate change: Adaptation and resilience report, the gold industry’s leading trade body identifies key physical climate-related vulnerabilities of the sector. It also outlines a range of adaptation strategies to support the industry in managing the associated risks.

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US$10 million worth of silver vanishes in Quebec in ‘Agatha Christie whodunit’ – by Tyler Dawson (National Post – November 9, 2022)

Thieves allegedly gained access to a secret code and other details and changed the delivery location, pulling off a remarkable international heist

In January 2020, a Quebec trucking company received an email with a secret code and instructions: It was to pick up US$10 million in silver ingots from a Montreal railyard, and take the valuable cargo to a warehouse.

The email had all the necessary information — the weight of the cargo, the correct container number and the secret code — so the silver was driven out of CN’s Montreal rail lot and to a LaSalle, Ont., warehouse.

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Sale of Red Lake mine could begin this week – by Ian Ross (Northern Ontario Business – November 8, 2022)

Many bidders could show interest in shuttered Red Lake mine should court approve sales process

Pure Gold Mining could have the ‘For Sale’ sign out for its Red Lake mine as early as Thursday. The insolvent Vancouver gold company, now under creditor protection, heads to a B.C. court Nov. 9 to petition for the sales process to begin immediately of its underground mine, processing mill and 4,600 hectares of gold property.

According to recent court documents, the company is asking for a stay of proceedings until Jan. 27, 2023 and permission to start the sales and investment solicitation process (SISP). National Bank Financial will be the sales agent.

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Gold Fields ends effort to acquire Canada’s Yamana, which has backed Agnico Eagle-Pan American takeover bid – by Niall McGee (Globe and Mail – November 9, 2022)

South Africa’s Gold Fields Ltd. has ended its flawed attempt to acquire Toronto-based Yamana Gold Inc., handing victory to Canadian precious metals miners Agnico Eagle Mines Ltd. and Pan American Silver Corp.

In late May, Johannesburg-based Gold Fields proposed buying Yamana for US$6.7-billion in stock, a 42-per-cent premium to Yamana’s market price. The deal was poorly received, with Gold Fields shares losing as much as 40 per cent in the months that followed, and two of its biggest shareholders, VanEck and RWC Partners Ltd. (known as Redwheel), denounced the deal as making no sense strategically.

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Agnico Eagle not doing its part to protect migrating caribou, says Nunavut government (CBC News North – November 8, 2022)

Territorial government asks feds to investigate, says company not meeting obligations at Meadowbank mine

The Nunavut government says Agnico Eagle Mines has reneged on some of its promises to protect migrating caribou near the company’s Meadowbank gold mine complex.

According to the territory’s Environment department, the mining company has failed several times to close roads at the complex when migrating caribou were nearby. That violates the company’s permits to operate and should be investigated, the Government of Nunavut (GN) says.

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