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Category: Gold

Zijin Mining Reports 52% Profit Surge Amid Strong Copper and Gold Prices 1 Mining in DRC Copper Gold 

Zijin Mining Reports 52% Profit Surge Amid Strong Copper and Gold Prices

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Zijin Mining Group, China’s largest metals producer, recorded a 52% increase in net profit in 2023, driven by higher production and rising copper and gold prices. The company reported a net income of 32.1 billion yuan ($4.4 billion), aligning with its forecast of 32 billion yuan, while revenue climbed 3.5% to 303.6 billion yuan. Over the past decade, Zijin has aggressively expanded its global presence, establishing major copper projects in China and the Democratic Republic of Congo. As securing critical mineral supply becomes a growing concern for global powers, Chairman… Read More Here
Angola Warns Gold Miners in Cabinda Over Non-Compliance 2 International Gold 

Angola Warns Gold Miners in Cabinda Over Non-Compliance

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Most mining companies operating in Angola’s Cabinda province, particularly in the gold sector, risk losing their exploration licenses due to non-compliance with government regulations, warned Angola’s Secretary of State for Mineral Resources, Jânio Corrêa Víctor, on Saturday. Speaking to the press during a two-day working visit to Cabinda, Víctor revealed that out of 11 licensed gold projects in the province, only one has delivered tangible results, while the rest remain inactive. He noted that Angola continues to face a significant gold production deficit, making it difficult to achieve its mining… Read More Here
Barrick Gold Committed to Resolving Mali Dispute Amid Operational Suspension 3 International Corporate News Gold 

Barrick Gold Committed to Resolving Mali Dispute Amid Operational Suspension

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Barrick Gold remains “fully engaged and committed to reaching a mutually beneficial resolution” with the Malian government to settle an ongoing dispute over its mining assets, according to a memo from Sebastiaan Bock, the company’s chief operating officer for Africa and the Middle East, seen by Reuters on Saturday. The dispute, which began in 2023, centers on Mali’s new mining code, which grants the state a larger stake in Barrick’s Loulo-Gounkoto gold mining complex. Tensions escalated when the government seized approximately three metric tons of gold from Barrick’s operations and… Read More Here
Barrick International Gold 

UK Court Orders Barrick Gold to Pay $2 Million to Ian Hannam’s Firm

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LONDON – Canada’s Barrick Gold has been ordered to pay $2 million plus expenses to British dealmaker Ian Hannam’s firm, Hannam & Partners, for its role in the 2018 acquisition of gold miner Randgold Resources, London’s High Court ruled on Wednesday. Hannam, a former top banker at JPMorgan, earned the nickname “king of mining” for brokering major resource sector deals, including the 2001 merger that created BHP Billiton and the 2012 Glencore-Xstrata merger. Hannam & Partners sued Barrick over an alleged agreement made before the Randgold acquisition, claiming it was… Read More Here
Barrick Gold Seeks Resolution in Mali Mining Dispute 4 Gold Corporate News International 

Barrick Gold Seeks Resolution in Mali Mining Dispute

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Barrick Gold remains fully engaged in negotiations with the Malian government to resolve their ongoing dispute over the Loulo-Gounkoto gold mining complex, according to a company memo seen by Reuters on Saturday. The conflict stems from Mali’s new mining code, which grants the state a larger stake in mining operations. Since 2023, Barrick and the government have struggled to agree on its implementation. Tensions escalated on January 13, when Barrick temporarily halted mining operations after the government seized three metric tons of gold stock and blocked exports since November 2023.… Read More Here
Mali Bans Small-Scale Gold Mining Permits for Foreigners Amid Safety Concerns 5 Gold Artisanal mining Mining safety 

Mali Bans Small-Scale Gold Mining Permits for Foreigners Amid Safety Concerns

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Mali has halted the issuance of small-scale gold mining permits to foreign nationals following a series of fatal mining accidents. Interim President Assimi Goïta has directed the government to implement stricter measures to prevent human and environmental disasters, Minister of Security and Civil Protection General Daoud Aly Mohamedinne announced on Wednesday. The new measures include: The crackdown follows a tragic mine collapse in western Mali last month, which claimed the lives of at least 49 people, many of them women. The accident occurred in an open-pit site where individuals were… Read More Here
Allied Gold Sells 50% Stake to UAE's Ambrosia in $500M Deal to Boost Operations 6 International Corporate News Gold 

Allied Gold Sells 50% Stake to UAE’s Ambrosia in $500M Deal to Boost Operations

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Canadian mining company Allied Gold has sold a 50% stake to UAE-based investment fund Ambrosia Investment Holding in a $500 million deal. The transaction includes $250 million in upfront cash, providing Allied with the necessary capital to accelerate operations at the Sadiola Mine in Mali and the Kurmuk Mine in Ethiopia. The partnership will create a joint venture focused on expanding Sadiola’s operations, including the deployment of solar PV and battery energy storage systems in collaboration with UAE-based ATGC by July 2026. The first-phase expansion is set to increase gold… Read More Here
Loncor Confirms High-Grade Gold Deposits at Adumbi Gold Mine in DRC 7 Mining in DRC Gold New Mining Projects 

Loncor Confirms High-Grade Gold Deposits at Adumbi Gold Mine in DRC

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Canadian exploration company Loncor has revealed the results of its deep drilling program at the Adumbi Gold Mine in the Democratic Republic of Congo, confirming high-grade gold deposits at various depths. The company reported intersections of deposits with grades of 26.94 grams per ton (g/t) at 0.45 meters, 5.82 g/t at 16.07 meters, and 4.77 g/t at 22.64 meters. John Barker, CEO of Loncor, explained that hole LADD027, located in the northwest of the Adumbi deposit, intersected the mineralization at a vertical depth of 478 meters below the surface, which… Read More Here
B2Golds Otjikoto Mine Record Production and Strategic Growth Plans for 2025 8 International Corporate News Gold 

B2Golds Otjikoto Mine Record Production and Strategic Growth Plans for 2025

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B2Gold’s Otjikoto Mine in Namibia, in which the company holds a 90% interest, had a strong performance in 2024, producing 198,142 ounces of gold, nearly at the midpoint of its guidance range of 185,000 to 205,000 ounces. For the year ending December 31, 2024, the mill feed grade was 1.87 g/t, with mill throughput at 3.34 million tonnes, and a gold recovery rate averaging 98.6%. In the fourth quarter of 2024, the Otjikoto Mine produced 52,452 ounces of gold. The mill feed grade for the fourth quarter was 2.10 g/t,… Read More Here
Barrick Gold Advances Drilling at Pueblo Grande Project in Dominican Republic 9 Gold Corporate News Drilling 

Barrick Gold Advances Drilling at Pueblo Grande Project in Dominican Republic

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Barrick Gold (NYSE: GOLD) (TSX: ABX) has launched the next phase of drilling at the Pueblo Grande project, located adjacent to its Pueblo Viejo gold mine in the Dominican Republic. This drilling is part of an earn-in agreement with Precipitate Gold (TSXV: PRG), the project’s owner. The Phase 3 drilling program will target high-priority areas within the Pueblo Grande Norte and Pueblo Grande Sur zones. So far, Barrick has identified two early-stage targets at Pueblo Grande Norte, along with several gold-in-soil anomalies across portions of the Pueblo Grande Sur zone.… Read More Here

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