The centre said the growth is due to new mines – Agnico Eagle’s Meliadine mine in Nunavut, Victoria Gold’s Eagle project in Yukon, and Eldorado Gold’s Lamaque in Quebec. These projects will be responsible for increased output through 2019.
New Gold has its eye on a 2021 start-up for its Blackwater project, and Taseko Mines is planning a 2022 start for its New Prosperity. The latter three projects are all located in British Columbia.
Together, these six mines have a potential output of over 2.2 million oz. annually. That production will offset several closures – the Minto and Taylor mines in 2021, and in 2022 the Croinor and Touquoy mines.
Canada was the fourth largest gold producer in the world, behind China, Australia and Russia.
China’s Zijin Mining has emerged as the unnamed multinational that trumped Silvercorp Metals’ (TSX, NYSE: SVM) bid for Guyana Goldfields (TSX: GUY), with a deal that values the target miner at C$323 million ($238m).
The board of directors of B2Gold (TSX: BTO) on Friday approved a cash dividend for the second quarter of $0.02 per share, up from its previous quarterly dividend of $0.01 per share.
Copper and cobalt-mining companies in the Democratic Republic of Congo may be violating the rights of their workers with stringent confinement policies meant to stop the spread of Covid-19, according to a group of non-governmental organizations.
Major currencies on Thursday hit the highest rates since September 2018 with the dollar traded at 180,000 rials in Tehran’s open market.
The gold price jumped by almost $30 an ounce on Thursday clearing the $1,700 an ounce level as retail and institutional investors continue to pile into the metal seen as a safe haven in times of turmoil.
China’s Zijin Mining Group Co said on Sunday it would pay 3.88 billion yuan ($548 million) to acquire a majority stake in a mining firm with rights to two copper deposits in Tibet.