Gold - Copperbelt Katanga Mining

Global gold output to rise 5.5% in 2021 – report

February 2, 2021February 2, 2021 admin

After declining in 2019, global gold production was adversely affected by the covid-19 pandemic during 2020, while the suspension of expansion works and contractions from mines nearing closure also exacerbated the decline. Overall output in 2020 was estimated to have declined by 5.2% to 108 million ounces (moz), according to UK-based analytics company GlobalData. This year, however, total production is expected to bounce back and increase by 5.5% to 113.9moz and then grow to 124.1moz by 2024 – a 2.9% compound annual growth rate (CAGR). Indonesia, Peru and the US will… Read More Here

Gold

Tanzanian gold export earnings rise 34% in 2020 on higher prices

February 1, 2021February 1, 2021 admin

Tanzania’s earnings from gold exports rose 34% last year, helped by increased output and higher prices, the Bank of Tanzania said in its latest monthly economic review. Gold exports fetched $2.95-billion, up from $2.21-billion in 2019. This came as tourism earnings declined 59% to $1.1-billion amid the coronavirus pandemic. The current account deficit narrowed to $662 million from $1.3-billion as imports declined. Oil imports fell 30% to $1.25-billion, while exports of manufactured goods rose 13% to $912 million. The central bank expects economic growth to have slowed to 5.5% in… Read More Here

Mining in DRC Gold

4 notices issued against 4 mining companies in Ituri (Loncor, Mongwalu, Kilogold and Sokimo) DRC

February 1, 2021February 1, 2021 arnbethnic

Mining: 14% drop in demand for gold worldwide in 2020

January 30, 2021January 30, 2021 admin

Gold had a rather special year 2020. The price of the yellow metal rose from the $ 2,000 per ounce mark before falling to around $ 1,900 per ounce at the end of the year. According to the World Gold Council, demand and supply have fallen, however, mainly because of the coronavirus. Global demand for gold hit its lowest quarterly total since the 2008 financial crisis last December, at just 783.4 t. This is one of the conclusions of the new report from the World Gold Council, which specifies that it is a… Read More Here

Gold International

Gold price set for worst January in 10 years

January 29, 2021January 29, 2021 admin

Gold prices opened in the red on Thursday after the US Federal Reserve kept its monetary policy unchanged without promising any more aid, supporting the dollar as the preferred safe haven asset. Investor sentiment reversed later in the session as bullion recovered from earlier losses. Spot gold was up 0.5% to $1,853.65 an ounce by 11:40 a.m. EST, while US gold futures gained 0.3% and traded at $1,851.10 an ounce. Nevertheless, the precious metal has lost about 2.8% so far this month, on course for its worst January performance since… Read More Here

Gold International

Gold price dips ahead of US policy decision

January 26, 2021January 26, 2021 admin

Gold prices eased on Tuesday as a slightly firmer dollar and uncertainty over a US stimulus package kept bullion in check, with investors awaiting cues on future monetary policy decisions from the US Federal Reserve. Spot gold fell slightly by 0.1% to $1,853.21 an ounce as of 11:30 a.m. EST but held above the $1,850 an ounce level. US gold futures also dipped 0.1% to $1,852.80 per ounce. ″(Gold) is waiting for the Fed, it is waiting for a solid thing to emerge and as long as we continue to… Read More Here

Gold

Harmony Gold on track to meet output guidance

January 26, 2021January 26, 2021 admin

Harmony Gold said on Monday it was on track to meet its annual output guidance due to the inclusion of its newly acquired Mponeng mine and as measures to offset the impact of covid-19 paid off. Harmony said it was on track to meet its annual gold production guidance of between 1.26 million ounces and 1.3 million ounces after producing 745,347 ounces in the six months ended December. The company total production for the quarter ended 31 December 2020 increased by 38% to 13 425kg (431 622oz) compared to 9 758kg (313 725oz) in… Read More Here

Gold

IAMGOLD produces 653,000 gold ounces, meets guidance

January 20, 2021January 20, 2021 admin

IAMGOLD (TSX: IMG, NYSE: IAG) announced on Monday attributable gold production of 653,000 ounces in 2020, at the mid-point of guidance of 630,000 to 680,000 ounces. The company reported attributable gold sales of 646,000 ounces for the year and 172,000 ounces for the fourth quarter, with total cash costs expected at the bottom end of guidance of $980 to $1,010 per ounce produced. “Essakane had its strongest quarter at the end of the year, Rosebel production was up quarter-over-quarter and Westwood contributed by processing stockpile and Grand Duc open pit ore,” said Gordon… Read More Here

Gold International

Gold price rises with spotlight on Biden

January 20, 2021January 20, 2021 admin

Gold prices surged on Wednesday amid signs that interest rates may remain weak, boosting inflation expectations as Joe Biden begins the first day of his US presidency. Spot gold advanced 1.5% to $1,868.68 per ounce by 11:50 a.m. EST, near a one-week high. US gold futures were also up by 1.4% to $1,867.00 per ounce. The precious metal extended its gains following Tuesday’s comments from Biden’s Treasury Secretary nominee Janet Yellen that weakened the dollar. Specifically, Yellen told the Senate Finance Committee that a slew of state spending was needed… Read More Here

Gold International

Gold price recovers despite stronger dollar

January 19, 2021January 19, 2021 admin

Gold prices edged higher on Monday, recovering from a near seven-week low, as prospects of a massive US coronavirus relief aid outweighed a stronger dollar and lifted bullion’s appeal as an inflation hedge. Spot gold advanced 0.6% to $1,838.30 per ounce by 11:30 a.m. EST, rebounding from an intraday low of $1,810.90 earlier. US gold futures were also 0.4% higher at $1,837.40 per ounce. Meanwhile, European equities and US futures remain under pressure. Global shares slipped over the past week on optimism surrounding a historic $1.9 trillion US aid package.… Read More Here