All articles tagged with #gold production
Simulations show that neutrino flavor transformations during neutron star mergers significantly influence the production of heavy elements like gold and platinum, potentially increasing their yield and affecting gravitational wave brightness, highlighting the importance of including neutrino physics in astrophysical models.
SSR Mining has halted gold production at its mine in eastern Turkey following a landslide that left at least nine miners missing, causing a more than 50% drop in its Toronto-listed shares. The mine, operated by Lidya Madencilik and owned by Calik Holding and SSR Mining, is the company's second-largest producing gold mine. Security footage captured the landslide, prompting a search and rescue effort involving 400 workers. The government has launched an investigation into the incident.
SSR Mining Inc. saw its shares plummet by 61% after halting operations at its Turkish gold mine due to a landslide, marking the second incident at the site in two years. The company's stock drop wiped out more than half of its market value, leaving it with a market capitalization of about $785 million. Turkish politicians criticized SSR, citing past issues at the site, and authorities have initiated investigations. The mine, Çöpler, is SSR's second-largest producing gold mine and has been in operation since 2010.
First Majestic Silver Corp. has reported its unaudited interim consolidated financial results for the third quarter of 2023. The company produced 6.3 million silver equivalent ounces, with quarterly revenues totaling $133.2 million. Mine operating earnings reached $13.0 million, and operating cash flows before movements in working capital and taxes were $14.1 million. Consolidated cash costs improved to $14.13 per silver equivalent ounce, and all-in sustaining costs improved to $19.74 per silver equivalent ounce. The company also declared a cash dividend payment of $0.0046 per common share for the third quarter of 2023.
China's gold production and consumption increased in the first nine months of 2023, with gold production rising by 0.47% and gold consumption increasing by 7.32% compared to the same period last year, according to data from the China Gold Association. The consumption of gold jewelry and gold bars and coins in the Chinese market also saw significant growth. Additionally, Chinese gold-backed exchange-traded funds (ETFs) added 9.53 tonnes in the third quarter, bringing the total holdings to about 59.69 tonnes. Experts suggest that China's selling off of U.S. assets may lead to increased gold purchases as a safe-haven alternative.