Gold Mining News

Gold output rose to 40.4 tonnes in 2011 from 35.6 tonnes a year ago after mining companies invested in higher output in a bid to cash in on the rising gold price, its central bank said Tuesday.

The FTSE 250 gold miner will pay an additional 1% in royalty to the Tanzanian government, citing the current gold price environment.

Hedge fund manager John Paulson held on to his ETF bullion holdings in the first quarter of this year, gaining from an early surge in gold prices before the market tanked.

Centerra Gold's production plummeted during the first quarter, sending total cash costs soaring to $985 per ounce.

While Great Basin Gold has had a tough road to walk over the last few months, CEO Ferdi Dippenaar believes worst is behind them and is looking forward to more consistency

It seems some investors were expecting more from Canaco than a million ounce resource with open-pit indicated and inferred grades @ 1.48 g/t gold and 1.36 g/t Au respectively.

The gold miner says it has started looking for a new CEO to replace James Komadina who has resigned for personal reasons.

While Goldman Sachs predicts record gold prices in the next 12 months, investors are reducing their gold holdings for a third month and choosing the dollar as a haven from Europe's debt crisis.

For David Levenstein, even though gold's long-term trend remains intact, the short-term damage so far inflicted suggests gold may trade to between $1525/oz to $1500/oz before prices rebound.

Speaking at the New York Hard Assets Investment Conference this week, respected analyst Adrian Day gave the reasons for his belief that the recent resource boom is still far from over.

Bob Moriaty provides a contrarian's guide to volatile markets and the reasons why he is looking at junior miners now.

World Gold Council CEO, Aram Shishmanian, says miners currently need a gold price of $1,300 to survive, but reckons if the trend continues in the next five years, it will need to be at least $3,000 for them to stay in business.

Gold exchange traded funds are close to the $2 billion mark for the first time in India, marking a shift in the buying patterns of Indian consumers.

According to Rick Mills, given recent political events, single minded money printing has to be the next stage and this will be positive for commodities.