Precious Metals

Up to 100 miners have died in a tragic mine collapse in Sudan, according to updated media reports on the story.

Up to 100 miners have died in a tragic mine collapse in Sudan, according to updated media reports on the story. 

Sky News said around 100 miners are currently unaccounted for and feared dead after the mine’s collapse on Monday. News reports originally put the death toll at 60 but that number has now been revised upward. Among the trapped are 9 rescuers who did not emerge from the cave-in after attempting to reach dozens of men trapped at the bottom of a well shaft 40-meters deep.

Sky News said the unlicensed gold mine is located in the desert around 125 miles from El Fasher, the state capital of North Dafur. Mines and infrastructure in the arid region are prone to structural failure.

Gold mining has become more important for Sudan since the secession of the south last year following a bitter civil war; the country aims to produce up to 50 tonnes a year which would put it among the world’s top 15 gold producers, according to Reuters.

Related Reading: 2011 Top Gold Producing Countries

MARKETS

Markets
TSX20179.81+187.93
TSXV680.49+7.47
DOW33761.05+424.38
S&P 5004280.15+72.88
NASD13047.19+267.27
ASX7032.50-38.50

COMMODITIES

Commodities
Gold1801.89+0.36
Silver20.82+0.02
Copper3.68-0.03
Palladium2224.19+14.20
Platinum965.47+2.48
Oil91.88-2.46
Heating Oil3.51+0.03
Natural Gas8.78-0.09

DOWNLOAD FREE REPORTS

×