Giann Liguid

Gold giants Barrick Mining (TSX:ABX,NYSE:B) and Newmont (NYSE:NEM,ASX:NEM) agreed to a US$1.95 billion truce on Monday (August 10), resolving a months-long dispute that threatened to derail Barrick's planned North American spin-off. Under the settlement, Newmont consented to the IPO and agreed to pay Barrick US$1.95 billion within 30 days. In exchange, Barrick contributed its Fourmile gold project into the Nevada Gold Mines (NGM) joint venture, alongside Newmont’s Fiberline and Mike developments.

The Democratic Republic of Congo (DRC) announced it is launching a formal investigation into massive quantities of undeclared uranium contaminating its cobalt exports. Officials said they will test cobalt hydroxide shipments bound for China and establish a working group to review recent findings produced in investigations by the Financial Times, Lighthouse Reports, and Le Monde.

The US Federal Reserve’s decision to hold interest rates steady while signaling a clear bias toward future hikes has propelled gold to new highs while exposing silver’s macroeconomic vulnerabilities. Following the Federal Open Market Committee (FMOC) meeting on July 29, the central bank maintained the federal funds rate at 3.5 to 3.75 percent. However, the decision exposed divisions within the central bank.