Andrew Forrest lost more than $1 billion from the value of his shares in Fortescue Metals Group as the market crashed on Monday, but that didn’t stop him buying more (reports The Australian Financial Review).
Newcrest Mining's gold production will slump to the lowest level since 2013, after poor performance at the Lihir and Telfer mines forced the nation's biggest gold miner into a huge downgrade (reports The Australian Financial Review).
Difficult mining conditions at Papua New Guinea's Lihir mine triggered a series of events that will ensure annual gold production from the mine will be between 17 per cent and 20 per cent lower than previously expected.
Kairos Minerals delivered a timely 230,500oz increase to resources at its own Pilbara gold project today
With all eyes again on the Pilbara’s gold potential as De Grey Mining prepares to reveal the scale of a potential new major discovery at Hemi, and with the gold price back over US$1600 per ounce, Kairos Minerals delivered a timely 230,500oz increase to resources at its own Pilbara gold project today (reports MiningNews).
Drilling by Gateway Mining (ASX: GML) at its flagship Gidgee gold project in Western Australia has identified four new regional gold corridors outside of the main Montague Granodiorite trend which hosts its existing gold resources (reports Small Caps).
Recent air-core drilling has intersected 5m at 10.4g/t gold from 52m at the Flametree prospect, with the mineralisation remaining open in all directions.
A regional assessment and geological review identified the highly-prospective corridors over a cumulative strike length of approximately 20km.
China's biggest steel maker has created a special hydrogen project in an effort to accelerate the transition away from the sort of carbon-intensive coking coal exported by Australia (reports The Australian Financial Review).
Upgrades to gold price assumptions have resulted in big target price increases for Australian gold miners (reports MiningNews).
Argonaut Securities lifted its 2020 average gold price forecast from US$1400 an ounce to $1575/oz and its long-term price from $1300/oz to $1425/oz.
Canaccord Genuity is much more bullish, lifting its 2020 forecast by 9.1% to $1682/oz and its long-term target by 9.6% to $1787/oz.
Both firms boosted price targets for ASX-listed producers, in line with the higher forecasts.