Gold - Copperbelt Katanga Mining

Barrick Plans 30% Growth and Considers Rebrand to Reflect Broader Mining Focus 1

Barrick Gold (NYSE: GOLD, TSX: ABX) announced on Friday that it is advancing a series of growth projects aimed at boosting gold-equivalent production by 30% by the end of the decade. Chairman John Thornton noted that despite a challenging global operating environment, Barrick met its 2024 gold and copper production targets, sustained its record of reserve replacement, and significantly expanded its resource base. “We improved our financial performance despite higher costs,” Thornton said in a statement. “Net earnings rose 69% — the highest in a decade — while operating cash… Read More Here

Mining in DRC Gold

Insecurity Halts Operations of DRC Gold Trading Amid M23 Occupation

March 31, 2025March 31, 2025 Constance0 comment

DRC Gold Trading SA, a joint venture between the Democratic Republic of Congo and the United Arab Emirates, is no longer able to operate due to the growing insecurity in the region, worsened by the occupation of parts of South Kivu by Rwandan-backed M23 rebels. The company, founded in January 2023, had been pivotal in regulating the gold supply chain in the northeast region of the DRC, where artisanal gold mining is prevalent. DRC Gold Trading SA had a significant role in cleaning up the gold supply chain by reducing… Read More Here

International Corporate News Gold

Mali Expects Gold Output Recovery in 2025 Amid Barrick Gold Standoff

March 27, 2025March 27, 2025 Constance0 comment

Mali anticipates a slight rebound in industrial gold production in 2025, assuming Barrick Gold resumes operations following a prolonged dispute with the government, according to a document from the country’s mines ministry seen by Reuters on Wednesday. Gold production is projected to reach 54.7 metric tons in 2025, up from 51.7 tons in 2024, which marked a 23% decline from previous years. As one of Africa’s leading gold producers, Mali hosts around 15 operational gold mines, primarily owned by Barrick Gold, B2Gold, Resolute Mining, Endeavour Mining, and Hummingbird Resources. Barrick… Read More Here

International Copper Corporate News Gold

Zijin Mining Sees 52% Profit Growth Amid Rising Copper and Gold Prices

March 26, 2025March 26, 2025 Constance0 comment

Zijin Mining Group, China’s largest metals producer, reported a 52% surge in profit for the past year, driven by higher copper and gold prices, as well as increased production. Net income rose to 32.1 billion yuan ($4.4 billion), while sales climbed 3.5% to 303.6 billion yuan, according to an exchange filing. The company had initially expected earnings to increase by 53%, reaching 32 billion yuan. Over the past decade, Zijin has expanded aggressively, becoming a significant global copper supplier through major new projects in the Democratic Republic of Congo and… Read More Here

Gold International

Gold M&A Activity Set to Surge in 2025 Amid Rising Prices and Limited Discoveries

March 26, 2025March 26, 2025 Constance0 comment

As in 2023 and 2024, when gold dominated global mining mergers and acquisitions (M&A), the trend is expected to continue in 2025. Experts predict that the rising price of gold and the limited number of major gold discoveries will keep gold at the forefront of M&A activity in the mining sector. Earlier today, South Africa’s Gold Fields announced a $2.1 billion proposal to acquire Australian Gold Road Resources. Although the proposal was swiftly rejected by Gold Road’s board of directors, it highlights the ongoing wave of M&A activity in the… Read More Here

Gold Artisanal mining Economy Mining in DRC

DRC Gold Exports Reach $1.5 Billion in 2024 Despite Decline in Artisanal Mining

March 26, 2025March 26, 2025 Constance0 comment

The Democratic Republic of Congo (DRC) exported a total of 27.9 tonnes of gold in 2024, generating approximately $1.5 billion in revenue, according to the annual report from the Technical Unit for Coordination and Mining Planning of the Ministry of Mines. Kibali Gold was the leading contributor, accounting for more than 26 tonnes of gold worth over $1.3 billion. In contrast, MCCR exported only 102.92 kg, generating an estimated $7.6 million in revenue, while Kimia Mining exported 5.72 kg, yielding $496,589. Kibali Gold remains the dominant force in the DRC’s… Read More Here

Mining in DRC Copper Gold

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

March 22, 2025March 22, 2025 Constance0 comment

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

International Gold

Angola Warns Gold Miners in Cabinda Over Non-Compliance

March 21, 2025March 21, 2025 Constance0 comment

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

International Corporate News Gold

Barrick Gold Committed to Resolving Mali Dispute Amid Operational Suspension

March 14, 2025March 14, 2025 Constance0 comment

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

International Gold

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

March 13, 2025March 13, 2025 Constance0 comment

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