India’s gold market is driven primarily by the consumption and fabrication of the yellow metal. Both have a significant impact in terms of economic value add, employment, contribution to foreign exchange earnings, and the trade balance. A report commissioned by the World Gold Council from PricewaterhouseCoopers estimated that gold made a direct contribution of more than $30 billion to the Indian economy.
Gold Mining
`Disastrous’ Deals Sideline Gold-Mining M&A as Metal Rises
Gold Silver Reports – `Disastrous’ Deals Sideline Gold-Mining M&A as Metal Rises — Stung by some lousy investments that led to billions of dollars in losses a few years ago, the world’s major goldproducers have cut way back on mining deals — even as metal prices posted their biggest rally since 2010.
Gold Mining Gets Wired
Gold Silver Reports – Gold Mining Gets Wired – Surrounded by sagebrush and pinyon pine in a remote part of Nevada, the city of Elko appears out of the desert as if from another era, with its strip of 1960s neon-lit motels and casinos. But down the highway a stretch, the scene is unmistakably 21st century.
UN Experts Accuse Congo Army General of Mining Gold Illegally
Gold Silver Reports — A group of United Nations experts said it’s gathered evidence that a sanctioned Congolese military officer owns gold mining operations in the northeast of the country, contravening the country’s mining code.
Mining Giants Post Red-Hot Results in Lukewarm Gold Market
Gold Silver Reports — Four of the world’s top gold companies were in full “beats” mode in the second quarter, wringing more value out of their mines amid tepid gold prices.
Economic Chaos Fuels Gold Mining Rush in Africa’s Newest Nation
Gold Silver Reports — After South Sudan’s peace deal collapsed, gun battles rocked the capital and soldiers ransacked his clothing store, Ahmed al-Nur faced the economic crisis in a trade that’s had an unexpected boost from the new wave of violence: gold.
Tanzanian Government Accuses Acacia of Mining Gold Illegally
Gold Silver Reports — Tanzania’s government accused Acacia Mining Plc of operating illegally in the East African country and said mining companies have been evading taxes. Acacia’s shares slumped.