Auric Mining is aiming to hold a unique role in the Australian resources sector as a relative junior with two operating gold mines.
The US gold giant that swallowed Australia’s biggest goldminer,Newcrest,in a $26.2 billion merger is moving to sell half a dozen mines.
Auric Mining is planning to extract a minimum 300,000 tonnes of ore in the second phase of its profitable Jeffrey Find gold operation in WA’s Goldfields region.
Easy to smuggle and sell virtually anywhere,gold continues to fund armed conflict in Africa and child labour in Australia’s region.
Anyone contemplating travelling to the US would be encouraged by a sudden jump in the value of the Australian dollar over the past fortnight. Here’s what is behind it.
A break in the close correlation between oil prices and the greenback has set off alarm bells.
A gold mine employee at US giant Newmont’s Boddington mine in WA has been diagnosed with silicosis,sparking calls to expand preventative health checks for miners.
The workers were as far as 60 metres underground in an illegal gold mine in Central Java when water from a nearby river suddenly flowed into mine shafts.
Gold has become another asset linked to economic growth,and that’s why its price is no longer seen as a useful harbinger of social and economic collapse.
Gold miners are expanding assets and upgrading production as the price of the yellow metal stays in bull territory.
The physical gold price has gained 23 per cent from its lows in September last year,and further rises are expected as the risk of recession increases.