Analysts Indicating Gold & Silver Still Have A Lot Of Upside After A Record Year
FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., Jan. 22, 2021 /PRNewswire/ 2020 can be remembered as anything but a stable year for the markets. With rising political and economic uncertainty, gold has become a go-to asset for many investors looking to reduce the risks and diversify their portfolios. But the question now is: after setting fresh records this year, will gold prices go up past $2,000 per ounce once again any time soon? A recent article in Capital.com answered that question in a positive manner It said: The gold market dipped in early June only to break through and reach all-time highs later this summer. On August 6, the metal hit $2,070 per ounce, soaring 35 per cent since the start of 2020 and 40 per cent from the March lows. The growth was driven by the weakening US dollar and a number of significant geopolitical and economic events on the global arena, such as the EU s ag
Gold Fields begins construction of Chile project
The Salares Norte gold project is located in the Atacama region of northern Chile. (
South African miner Gold Fields (JSE, NYSE: GFI) has formally begun construction of the mining infrastructure for its Salares Norte project, in northern Chile.
The company expects to complete the $860-million project in late 2022, with first gold production in early 2023.
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About 15% of the construction has already completed, Gold Fields said. That includes a mining camp for 1,800 people, related infrastructure and access roads.
Not mentioned in the news release was a delicate operation to remove critically endangered chinchillas, which were living on site. The rodents, hunted for centuries for their thick, soft pelt, are now only found in the wild in parts of Chile and are protected by law.
Gold Fields has
appointed former Anglo American Platinum boss
Chris Griffith as chief executive, the South African miner said
on Thursday. The former Amplats and Kumba Iron Ore CEO. | February 4, 2021
He succeeds Nick Holland, who is retiring after 13 years.
At Gold Fields, he’ll be confronted with advancing the development of a new mine in Chile, while continuing the turnaround at the troublesome South Deep operation in South Africa.
Gold Fields named former Anglo American Platinum boss Chris Griffith as its new chief executive officer as the company seeks a solution for its last gold mine in South Africa.
The new chief will start on April 1, succeeding Nick Holland, who is retiring after 13 years at the helm. Gold Fields extended gains on the news, rising as much as 6.2% in Johannesburg trading.
Gold Fields Appoints Chris Griffith as CEO Designate
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JOHANNESBURG, Jan. 21, 2021 /PRNewswire/ The Board of Gold Fields (JSE: GFI) (NYSE: GFI) is pleased to announce the appointment of Chris Griffith as the Chief Executive Officer designate and Executive Director of the Company. Mr Griffith will succeed Nick Holland on 1 April 2021.
Mr Holland, who was due to retire on 30 September 2021 after 13 years as CEO of the Company, has agreed to retire six months earlier to facilitate the leadership transition.
Mr Griffith, 55, was previously CEO of Anglo American Platinum. He resigned from this position on 16 April 2020 to pursue other career opportunities and is currently on gardening leave until 31 March 2021.