Yanacocha is one of South America's largest gold mines, located in the province of Cajamarca, northern Peru, and has been in production since 1993. Yanacocha has substantial future The post Sumitomo buys 5% stake in Yanacocha Gold and Copper Mine in Peru appeared first on Compelo.
By Cecilia Jamasmie Ghanaian authorities have approved a $185-million partnership between South Africa's Gold Fields (JSE, NYSE: GFI) and Canada's Asanko Gold (TSX: AKG) aimed at developing one of the West African country's newest gold mine. The Ghanaian Minister of Lands and Natural Resources' approval, said the companies, was the main hurdle they needed to clear to complete the previously announced joint venture deal. That transaction will see Gold Fields acquiring a 50% interest in the Vancouver-based company's 90%-ownership of Asanko Gold Mine (AGM).
US sanctions have forced Russia to look at ways of securing its foreign reserves. In recent years, Moscow has increased purchases of physical gold and dramatically reduced its share of US debt bonds. The political standoff started in 2014, shortly after the conflict in Ukraine and the referendum in Crimea in favor of joining Russia. Several rounds of US sanctions followed, with the latest affecting major Russian companies and individuals who run them.
Energy infrastructure that can keep pace with growing oil and gas production trends is an essential U.S. need, an American Petroleum Institute director said.
India's Crude Oil Conundrum: When High Oil Prices Hurt And When Low Oil Prices Hurt Too - The Financial Express
Crude oil prices: At the moment, Oil Minister Dharmendra Pradhan is in Vienna, fiercely advocating for "responsible oil pricing" from the OPEC. While high crude oil prices hurt, low crude oil prices hurt too; here's why.
By LNG World News Trading company Gunvor has emerged as a winner in a tender to supply Pakistan with six liquefied natural gas (LNG) cargoes in July and August. Gunvor submitted the most competitive offers for five of the cargoes sought by state-owned company Pakistan LNG while Vitol won one and Trafigura none, according to...
A former Australian rugby union centre is joining a UK-based equities manager as its managing director for Australia. The firm is also launching an Aussie-based global equities unit trust seeded with $130 million from an industry superannuation fund.
By Nicole Rashotte Japan's Sumitomo (TYO:8053) has purchased a 5-percent stake in the Yanacocha gold mine in Peru for US$48 million in order to boost its metals portfolio, the company announced on Thursday (June 21). Yanacocha has been in production since 1993 and was once Peru's largest gold mine. In recent years, production has declined but Sumitomo believes in its growth potential, as the life of mine could possibly be extended to 2039 and it also contains copper deposits.