New Murchison Gold (NMG) has entered into an ore purchase agreement with Westgold Resources in a bid to increase production at its Crown Prince gold deposit near Meekatharra, Western Australia.
Iron ore futures retreated on Friday, but ended the week higher as investors assessed top consumer China’s latest pledge of further stimulus measures to shore up its faltering economy.
Gold prices are set to rise more slowly in 2025 after a record-breaking run this year, according to the World Gold Council.
Tensions between the US and China may weigh on energy and commodities markets next year, while the outlook remains bright for gold, ING Groep NV said.
Barrick Gold Corp. is seeking buyers for its Tongon gold mine in the Ivory Coast in an effort to sell the aging operation when bullion prices are surging.
The world’s biggest gold miner, Newmont Corp., is further reducing its corporate workforce as part of an effort to trim costs.
Copper concentrate exports from Freeport-McMoRan’s unit in Indonesia will ease global shortages, but probably only briefly and if the Indonesian government allows them, industry sources said.
Gold has scope to push higher next year, likely hitting a record, as the Federal Reserve cuts rates and central banks add bullion to reserves, according to Macquarie Group Ltd.
China’s central bank resumed buying gold for its reserves in November after a six-month pause, official data by the People’s Bank of China (PBOC) showed on Saturday.
Northern Star Resources’ A$5 billion ($3.3bn) acquisition of developer De Grey Mining could take the growing gold producer’s annual production to as high as three million ounces per year.
