04 May, 2022

Striking gold: Top Gold Mining Stories

Vinci Capital Group – Striking Gold

The Vinci Capital Group is a British Virgin Island trust with subsidiaries in Asia focused on gold and copper. The Vinci Capital Group co-owns mining exploration licenses with a combined value of over 100 billion dollars’ worth of gold and copper resources.
The company has recently struck gold, with total resources estimated at 340 tons of gold and 10 million tons of copper. The Vinci Capital Group’s business model is developing early stage mining exploration licenses to prepare for mining companies to develop them once at a bankable level.

Here are some article links about the CEO of Vinci Capital.




The Mega-Merger Of The Year

There is a new gold giant in town. The merger of Barrick Gold Corporation and Newmont Goldcorp Corporation, two of the world’s largest gold companies, has created a gold giant, Newmont Goldcorp (NYSE: NEM), the likes of which has never been seen before. While Newmont’s stock price for its share of the joint venture has only seen a minor bump compared to Barrick’s outstanding 41% since the merger, it is undoubtedly in a better position. Newmont’s new assets may take up to three years to reach optimal levels, meaning the positive impact of the merger is going to continue to be felt for a long time to come. As for its current position, its 2020 Q2 earnings showed some very positive results, growing to $2.26 billion from $1.66 billion the previous year. Its production has also seen a boost, with Newmont digging up 1.5 million oz of gold in the second quarter – setting its highest quarterly haul in years.

Source: Bloomberg https://www.bloomberg.com/news/articles/2019-01-14/newmont-to-buygoldcorp-in-deal-valued-at-10-billion-jqw6a4yy

Rio Tinto

Rio Tinto unearthed the biggest Australia rough pink diamond, weighing 12.76 carats. This extremely rare pink gemstone was found in the Argyle mine located in the East Kimberley region of Westerns Australia. According to the Argyle pink diamond manager, Josephine Johnson, it took 26 years to make the discovery and such a rare gem may never be seen again. The general record sun for a pink diamond is $2.2 million carat. This means that the stone is potentially worth around $28 million. However, in a bid to preserve the company's legacy, Rio Tinto donated the stone to the Melbourne Museum. It has remained permanently on display along with other renowned and notable artefacts.


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