Omar Jabara News
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Gold miners led by Barrick Gold Corp., the world’s largest, will likely accelerate spending cuts and trim high-cost output as the metal’s biggest plunge since 1980 threatens to make about 30 percent of production unprofitable.
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Newmont Mining Corp., the world’s second-largest gold producer, is finding its biggest growth project runs through lakes and land belonging to some of the poorest farmers in Peru’s northern Andes.
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Peru will concentrate most of a 1 billion-sol ($394 million) government investment in reservoirs and water-treatment projects near Newmont Mining Corp.’s $5 billion Minas Conga gold project in a bid to defuse opposition to the mine, the National Water Authority chief said.
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Newmont Mining Corp. , the largest U.S. gold producer, agreed to buy Fronteer Gold Inc. for C$2.3 billion ($2.32 billion) to gain exploration and development projects in Nevada.
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The U.S. government could reap hundreds of millions of dollars in the next decade by collecting royalties from gold, silver and other mines exempt under an 1872 law President Ulysses S. Grant signed to promote the frontier.
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Newmont Mining Corp.’s suspended $4.8 billion gold project in Peru needs “substantive improvements” to gain approval, according to the author of a government-commissioned study.
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Newmont Mining Corp., the largest U.S. gold producer, appointed Gary Goldberg to replace Richard O’Brien as chief executive officer from March 1.
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The four windmills dug into northern Canada’s tundra that power Rio Tinto Group’s $5.2 billion Diavik diamond mine are the world’s first designed to work in gusts as cold as 40 degrees below zero.
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Capital spending by the largest gold producers is increasing at a faster pace than earnings for a second straight year as the industry’s biggest mining projects are beset by delays and surging labor costs.
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Newmont Mining Corp. , the largest U.S. gold producer, has expressed interest in developing mines in Afghanistan, the country’s minister of mines said.
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