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Kinross Gold mulling sale of Americas mines

Canadian miner Kinross Gold (TSX: K) (NYSE: KGC) is said to be studying a sale of its gold mines in North and South America and moving its primary stock listing to London in a move to increase the company’s value.

The Toronto-based gold producer is also considering doubling down on its portfolio of assets in Russia and West Africa, The Globe and Mail reported citing three unnamed sources familiar with the matter.


Shandong Gold calls Canada to approve Arctic mine buy

Shandong Gold Mining, one of China’s top bullion miners, said its acquisition of a Canadian junior that owns the massive Hope Bay property in Nunavut should be approved for economic reasons.

The Chinese state-controlled miner signed in May a $149 million-deal to buy struggling TMAC Resources (TSX: TMR). The company, which went public in 2015, had seen its shares fall from a peak of C$10.77 in 2018 to C$1.68 the day before Shandong’s bid and to C$1.49 on Thursday.


Novagold sues J Capital Research for defamation

Novagold (NYSE, TSX: NG) announced on Tuesday that it had served short-seller J Capital Research USA (JCAP) with a civil action lawsuit for defamation in the United States District Court for the Eastern District of New York.

Novagold and Barrick have reopened the Donlin camp last month following a two-month due to the covid-19 pandemic

The company alleged that on May 28, JCAP issued a “report” on Novagold that contained false and misleading statements as part of what the company believes to be a “short and distort” attack.


PNG threatens Barrick over alleged gold export attempt

Papua New Guinea (PNG) has threatened Barrick Gold with criminal proceedings against it, claiming the company’s joint venture in the country was planning to illegally export $13 million in silver and gold to Australia.

The country’s mining regulator said that Barrick Niugini Limited (BNL) asked earlier this week for clearance to ship precious metals to the Perth Mint.

The move, the Mineral Resources Authority (MRA) said, is considered illegal given that BNL is not allowed to process or ship gold since the government’s refused to extend its mining lease for the Porgera mine almost two months ago.


Barrick, Japan Gold kick off exploration program

Barrick (TSX: ABX) (NYSE: GOLD) and Japan Gold (TSX-V: JG) have begun their joint exploration program in the Asian country under an alliance formed in February, which seeks to uncover the nation’s gold mining potential.

The partnership, known as Barrick Alliance, will see the Canadian gold giant sole-fund a two-year initial evaluation phase of 28 out of the Japan Gold’s 30 projects in the country.

Barrick will also finance a third year of explorations on assets that meet its criteria.


Australia working towards becoming top gold producer – report

Australia-focused market analyst Resources Monitor issued a short report stating that the island country is bound to overtake China in 2021 as the world’s largest gold producer.

According to Resources Monitor, Australia’s role as a cost-effective producer is giving it the advantage it needs to take the leading position.

The analyst backs such an assessment by looking at the margins that most gold-mining companies have been making for the past 18 months.


Papua New Guinea snatches Barrick Gold’s Porgera mine

Papua New Guinea is set to take control of Barrick Gold’s (TSX: ABX) (NYSE: GOLD) Porgera mine after refusing to extend the company’s lease on environmental and social grounds, Prime Minister James Marape said on Friday.

“In the best interests of the state, especially in lieu of the environmental damages, claims and resettlements issues, the Special Mining Lease will not be renewed,” Marape said.

Barrick planned to boost the gold mine to its top-tier assets, despite landowner and government demands to cede a larger stake.


Barrick unveils 10-year plan to become world’s most valued gold miner

Barrick Gold (TSX: ABX) (NYSE: GOLD), the world’s second largest gold miner, has unveiled a 10-year production plan aimed at becoming the most valued bullion company.

The strategy, outlined in its first annual report since its merger with Randgold Resources, includes boosting Barrick’s production to about 5 million ounces of gold a year, with the bulk coming from its North American operations.

President and chief executive officer, Mark Bristow, said Nevada Gold Mines — its recent joint venture with Newmont (NYSE: NEM) — would be the “value foundation” of its business moving forward.


Japan Gold shares jump on Barrick alliance

Japan Gold (TSXV: JG) announced on Monday the formation of a country-wide alliance with Barrick Gold (NYSE: GOLD, TSX: ABX) to jointly explore, develop and mine properties in Japan.

The Canadian company also announced additional six new project in the Southern Kyushu Epithermal Gold Province.

The Canadian company also announced additional six new project in the Southern Kyushu Epithermal Gold Province

The partnership spans 28 out of the firm’s 30 current projects and Barrick will sole fund a two-year initial evaluation of each project and potentially a three-year second phase if they meet the mining titan’s criteria.


Newmont’s gold reserves surpass 100moz, largest in company history

Colorado-based gold miner Newmont (NYSE: NEM, TSX: NGT) has reported gold mineral reserves of 100.2 million attributable ounces for 2019, the largest ever in company history. This represents a 53% increase over the 65.4 million ounces recorded in 2018 following the completion of two major transactions and through ongoing exploration success.

Last year, Newmont added almost 50 million ounces of gold reserves through the acquisition of Goldcorp, the formation of the Nevada Gold Mines joint venture and the continuation of its exploration program, solidifying the company as the world’s largest gold miner.