by Frank Holmes
GoldSeek
Strengths
– The best performing precious metal for the week was palladium, but still down 2.51%. Palladium was buoyed by the partially suspended operations at Russia’s Nornickel mine due to flooding. AngloGold Ashanti boosted its dividend more than fivefold to 48 cents, up from 9 cents in 2019 after profit climbed to $953 million in 2020. The move follows similar dividend increases from rivals Barrick Gold and Newmont.
– Gold Fields said regulators approved its plan to build a 40-megawatt solar plant at its South Deep mine in South Africa, reports Bloomberg. The new plant will supply 20% of the mine’s electricity needs and help limit operational losses from power outages.