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Independent, referenced analysis of the operators and jurisdictions moving global commodities markets.
Newmont's 2025 reset: slimmer portfolio, sharper capital rules
Newmont closed 2025 with tighter cost and capital guidance and rolled out an enhanced capital allocation framework alongside its 2026 outlook.
Agnico Eagle's record 2025: what disciplined capital looks like
Agnico Eagle posted record free cash flow and hit 2025 production guidance, returning $1.4 billion to shareholders and lifting the dividend 12.5%.
Uganda's gold discovery: what the 2022 Mining Act unlocked
A guide to Uganda's recent large-scale gold discoveries and how the 2022 Mining and Minerals Act reshaped licensing, royalties and exploration.
Inside Burlcore Mining: gold, governance, and the Lake Victoria belt
An AurumPivot analysis of Burlcore Mining's gold reserves, regulatory compliance, licensing strategy and leadership depth in Uganda's Lake Victoria Gold Belt.
Barrick and Mali: a costly reminder about sovereign risk
Barrick Mining's late 2025 settlement with Mali ended a multi-year Loulo-Gounkoto dispute but underlined the cost of jurisdictional risk for major gold producers.
Kinross and Great Bear: patience in Red Lake
Kinross continues to advance the Great Bear project in Ontario's Red Lake district, positioning it as a long-life anchor for the company's Americas portfolio.
AngloGold Ashanti's Sukari bet: a Tier 1 asset, now proving itself
A year after acquiring Centamin, AngloGold Ashanti's Sukari mine in Egypt is delivering the production and cost profile the deal was built on.
B2Gold's Fekola: how to negotiate under pressure and keep operating
B2Gold reached a framework agreement with Mali on the Fekola Complex and, as of November 2025, reports that operations continue uninterrupted.
Salares Norte and the real cost of high-altitude ramp-ups
Gold Fields' Salares Norte project in Chile has spent 2025 fighting Atacama winter conditions, a cautionary tale on high-altitude ramp-up risk.
Pan African Resources: mid-tier discipline, quietly compounding
Pan African Resources grew group gold production 5.6% to 196,527 ounces in FY25 and posted a record H2 production number.
Harmony Gold's FY25: high grades, record cash, copper on the horizon
Harmony Gold's FY25 results, released in August 2025, reported strong margins, record cash flows, and a strategic pivot toward copper.
Cobre Panama: how a single ruling repriced First Quantum
First Quantum's Cobre Panama mine remained shuttered through 2025, with Panama only approving a limited maintenance plan and concentrate exports.
Endeavour Mining after the reset: governance under a microscope
Two years after terminating its CEO for serious misconduct, Endeavour Mining is still being judged on how completely it rebuilt its governance framework.