Gold and Silver – Page 23 – Republic of Mining

Canada Has A New $250 Coin Made Of Pure Silver & It’s A Monochromatic Dream – by Mike Chaar (MSM.com – November 2023)

November 20, 2023

https://www.msn.com/

The Royal Canadian Mint has introduced a brand new $250 coin made up of one kilogram of pure silver. The Silver Maple Leaf coin is a 2024 release featuring a completely monochromatic look. The new coin is valued at $250 but costs a whopping US$2,098.40 to purchase, which is fair considering it is, in fact, a kilogram of pure silver.

“An elegant showpiece and an exquisite example of world-class craftsmanship, your coin has been meticulously crafted in 1 kilogram of 99.99% pure silver,” the Royal Canadian Mint wrote on its website. On the coin’s reverse, a silver maple leaf designed by Canadian artist Lilyane Coulombe can be seen with intricate formations within to create a pulsating effect along with an engraving of the 250-dollar value.

Gold stolen from Toronto airport was not insured, Air Canada claims in denying responsibility – by Adrian Humphreys (National Post – November 17, 2023)

November 17, 2023

https://nationalpost.com/

Airline breaks its silence on Pearson airport gold heist mystery after $20-million load was stolen when it arrived in Toronto on a flight from Switzerland

The cargo container stuffed with gold bars and millions in cash that was stolen from Toronto’s Pearson airport was not insured, according to Air Canada, as the airline denies responsibility for the shocking theft from its cargo facility.

The airline breaks its silence on the alarming theft — the cargo container of $20 million in gold and US$2 million in cash was taken shortly after it arrived on an Air Canada jet from Switzerland — in a statement of defence filed in court in response to a lawsuit by Brink’s, a secure transport company.

Mining the Northwest: Dryden Gold is ready to go public with its story – by Ian Ross (Northern Ontario Business – November 14, 2023)

November 14, 2023

https://www.northernontariobusiness.com/

With high-grade expectations at the Dryden Gold Project, local exploration company looks to list on the TSX-Venture

A privately owned exploration company with a high-grade property and a Dryden post office box will be entering the market in December. Dryden Gold announced it’s making preparations for an IPO (initial public offering) some time next month to raise $5 million, of which $2.9 million will go into the drill bit for its 2024 exploration drilling program. The company intends to list on the TSX-V under the proposed ticker of DRY.

In assembling a 48,000-hectare property 30 kilometres east of Dryden, the company’s story is that past mining efforts at the turn of the last century barely scratched the surface of this area’s high-grade gold potential.

Debate over Pebble mine in Alaska’s Bristol Bay region moves to dueling Supreme Court briefs – by Yereth Rosen (Alaska Beacon – November 13, 2023)

November 14, 2023

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The company seeking to develop the controversial copper mine is sticking to its plans, despite federal action that barred permitting for the project

The company trying to build a huge copper and gold mine in the salmon-rich Bristol Bay will keep fighting for the project, despite a decision by the federal government to keep the proposed development site off-limits to large-scale metals mining.

John Shively, chief executive officer of the Pebble Limited Partnership, made that vow in a presentation at the Alaska Miners Association annual convention in Anchorage. He said the Pebble mine had the potential to transform the economy and improve lives in the rural Bristol Bay region, just as he said the Red Dog Mine, one of the world’s biggest zinc producers, has done in Northwest Alaska.

B2Gold delivers the goods at Back River – by Shane Lasley (North of 60 Mining News – November 10, 2023)

November 10, 2023

https://www.miningnewsnorth.com/

With a successful summer construction and shipping season, B2Gold Corp. says its Back River gold project in Nunavut remains on pace to pour its first gold early in 2025. Upon the April completion of its acquisition of Sabina Gold & Silver Corp., which had already made significant progress on early development at Back River, B2Gold immediately invested the resources necessary to get the first mine on this district-scale gold property into production.

Goose, the most advanced project at Back River, is slated to produce 3.34 million oz of gold over 15 years of mining 18.7 million metric tons of proven and probable reserves averaging 5.97 grams per metric ton (3.6 million oz) gold.

UK Sanctions Gold Trader and Miners in New Russian Clampdown – by Jonathan Browning (Bloomberg News – Novmeber 8, 2023)

November 9, 2023

https://www.bnnbloomberg.ca/

(Bloomberg) — The UK government targeted Russian gold miners, the largest refiner and a Dubai-based trader involved in routing funds to Moscow as part of a package of fresh sanctions tied to the country’s gold and oil sectors.

The UK on Wednesday sanctioned Nord Gold Plc and Highland Gold Mining Ltd. alongside Krastsvetmet JSC, the biggest precious metals refinery in Russia.

What green energy transition? Half of mining still exploring for gold – by Frik Els (Mining.com – November 7, 2023)

November 8, 2023

https://www.mining.com/

New study shows a $1.1 billion drop in gold exploration budgets this year as juniors struggle to raise capital, but the precious metal still accounts for 46% of the total.

According to a new study by S&P Global Market Intelligence, overall mining exploration budgets fell this year for the first time since 2020, dropping 3% to $12.8 billion at the 2,235 companies that allocated funds to find or expand deposits.

Gold smuggling the subject of a new book from Timmins, Ont. author Kevin Vincent (CBC News Sudbury – November 5, 2023)

November 6, 2023

https://www.cbc.ca/news/canada/sudbury/

‘City of Thieves’ contains 10 stories about gold smuggling in northern Ontario and Quebec

In the late 1940s a mine mill worker named Eddie Clement figured out a way to steal gold from the Delnite Mine in Timmins, Ont. The next decade he orchestrated three major gold heists, and was never caught.

Clement’s early years as a gold thief are the subject of a short story in a new book called City of Thieves, from Timmins author Kevin Vincent.

Newmont Prepares to Sell Mines as Newcrest Acquisition Closes – by Jacob Lorinc (Bloomberg News – November 6, 2023)

November 6, 2023

https://www.bnnbloomberg.ca/

(Bloomberg) — Newmont Corp., the world’s top gold producer, will forge ahead on a plan to find $2 billion in cash including through mine sales and project divestments after closing the largest takeover in the mining industry this year.

Denver-based Newmont closed its roughly $15 billion acquisition of Newcrest Mining Ltd. on Monday, ending a nearly year-long effort to buy the Australian gold miner.

Wall Street analysts see virtually no downside for gold prices, retail investors maintain bullish outlook – by Ernest Hoffman (Kitco News – November 3, 2023)

November 3, 2023

https://www.kitco.com/

(Kitco News) – Gold traded in an elevated and narrow range this week, frequently testing the $2,000 psychological price barrier without ever managing to break decisively above it.

The precious metal continues to be trapped between evenly balanced opposing forces, as declining bond yields and optimism that the Fed funds rate has truly peaked compete with the pullback in the safe-haven bid as the conflict in the Middle East continues without escalating beyond Israel’s borders and the surprising strength of equity markets and other risk-on assets.

B.C. and Tahltan Nation sign agreement requiring consent for changes to mine (Canadian Press/Vancouver Sun – November 1, 2023)

November 3, 2023

https://vancouversun.com/

The agreement means substantial changes to the existing environmental assessment certificate for the Red Chris mine can only proceed with Tahltan approval.

A new agreement between the province and an Indigenous government in northern B.C. will require the nation’s consent ahead of any significant changes at a major copper and gold mine.

Chad Norman Day, president of the Tahltan Central Government, says the agreement means substantial changes to the existing environmental assessment certificate for the Red Chris mine can only proceed with Tahltan approval.

Cast a ballot, learn about Giant Mine: public info session on arsenic trioxide takes place on election night – by Mah Noor Mubarik (CBC News Canada North – November 1, 2023)

November 3, 2023

https://www.cbc.ca/news/canada/north/

Session is meant to help people learn about long-term plans for toxic arsenic trioxide

An independent board meant to review the Giant Mine clean-up is holding an information session so people can learn more about long-term plans for the highly toxic arsenic trioxide buried underneath the mine site. The session will be held on the same evening as the territorial election.

The Giant Mine Oversight Board’s chair, David Livingstone, said the date for the meeting was set before wildfires led to the postponement of the election. He said it took four months to set up and would be impossible to reschedule easily.

Barrick CEO Bristow reaffirms vow to improve safety record amid rise in work fatalities – by Niall McGee (Globe and Mail – November 3, 2023)

November 3, 2023

https://www.theglobeandmail.com/

Barrick Gold Corp. ABX-T chief executive officer Mark Bristow is vowing once again to improve the company’s poor safety record after the Canadian miner reported two more fatalities at its sites this year – bringing the total under his tenure at the company to 13.

Mr. Bristow said in an interview Thursday that an electrician was killed at its Loulo-Gounkoto mine in Mali after the worker opened up a live electrical box after walking in water to fix a pump. In Nevada, a contractor died after losing control of a vehicle driving down a steep road.

Geopolitical uncertainty will support gold prices through 2024 – World Bank Commodity Outlook – by Neils Christensen (Kitco News – October 30, 2023)

October 30, 2023

https://www.kitco.com/

(Kitco News) – Geopolitical turmoil has once again impacted the gold market and safe-haven demand has the potential to drive prices even higher as any potential escalation in Israel’s war with Hamas creates further chaos in the Middle East, according to analysts at the World Bank.

The international financial institution published its latest commodity market outlook Monday, saying they see average gold prices rising 6% in 2024 to $1,900 an ounce, before the market cools the following year.

Gold Hits $2,000 as Israel-Hamas Clash Raises Safe-Haven Allure – by Eddie Spence and Jacob Lorinc (Bloomberg News – October 27, 2023)

October 27, 2023

https://www.bnnbloomberg.ca/

(Bloomberg) — Gold surged above $2,000 an ounce for the first time since May as concerns over conflict in the Middle East outweigh the impact of the recent jump in bond yields.

Spot gold rose as much as 1.2% after Israel’s military said it was “expanding ground activity” in Gaza, putting the metal on course for the biggest monthly gain since July 2020. Prices touched an all-time high of $2,075.47 in 2020.