Shandong Gold Mining Co. Ltd plans to apply for loans worth up to $1.26 billion via its unit to fund the acquisition of a stake in Barrick Gold Corp's mine in Argentina, the Chinese precious metal producer said on Friday.
Growth in China's manufacturing sector in May kept pace with the previous month, an official survey showed on Wednesday, beating expectations in a reassuring sign the world's second-biggest economy is not losing too much steam after a solid first quarter performance.
Goldsource Mines Inc. has announced that it has retained Tetra Tech Canada Inc. of Vancouver, BC to complete an independent pre-feasibility study (“PFS”) for a large-scale (4,000 to 5,000 tonnes per day) open pit, gravity-cyanidation operation at its Eagle Mountain Gold Project (“Eagle Mountain”) in Guyana, South America.
London copper fell on Wednesday after credit ratings agency Moody's downgraded China due to its massive debt, with muted trade expected ahead of the release later in the session of minutes from the Federal Reserve's last meeting. "After a set of less-than-positive U.S. data, a debt (agency) downgrading China, Noble struggling ... and the banks reporting a 29-percent drop in commodities revenue, the markets were always going to struggle and struggle they are," said Kingdom Futures in a report.