Gold - Copperbelt Katanga Mining

Aton outlines plan to build Egypt’s second gold mine 1

Canada’s Aton Resources (TSX-V: AAN) said on Monday that is ready to kick off an ambitious exploration drilling and development program focused on building Egypt’s second operating gold mine. The Vancouver-based miner said that while there are still potential bumps in the road due to covid-19, it is prepared to face them and that the minerals sector in Egypt is showing tangible signs of development, ATON RESOURCES, WHICH OWNS THE ABU MARAWAT CONCESSION IN EGYPT, SAYS THE GOVERNMENT IS ACTIVELY SUPPORTING ITS EMERGING MINING INDUSTRY Aton Resources, which owns the Abu Marawat… Read More Here

Gold International

Gold price begins new year on a high

January 5, 2021January 5, 2021 admin

Gold is off to a good start in 2021 after recording its best yearly gain in a decade. Prices surged above $1,900 an ounce on Monday to the highest in almost two months as lower US real yields and a weaker dollar kept the yellow metal’s momentum up. Spot gold advanced 2.1% to $1,939.41 an ounce by 11:40 a.m. EST. US gold futures were also up 2.6% to $1,945.10 per ounce. Real yields — the difference between nominal benchmark bond yields and the rate of inflation — fell close to… Read More Here

Mining in DRC Gold

Second time lucky for Banro and Shomka over sale of Namoya gold mine? – DRC

January 5, 2021January 5, 2021 admin

The deal reached in late June by Canada’s Banro to cede the Namoya gold mine in the DRC to Hong Kong’s Shomka Resources has fallen through. It is now another entity controlled by Shomka’s boss that is negotiating the acquisition of Namoya. Read More Here

Gold Mining in Zambia

Mine suppliers want gold sub-sector re organised

January 2, 2021January 2, 2021 admin

THERE is need for Government to reorganise the gold sub-sector by putting up infrastructure to promote value addition, Association of Mine Suppliers and Contractors (AMSC) president Augustine Mubanga has said. Giving the end of year perspective for the mining sector, Mr Mubanga said the gold subsector needs to be reorganised if the country is to derive maximum benefits from it. He said this should be done by putting up infrastructure that will promote value addition to gold, unlike exporting it in its raw form as has been the case with… Read More Here

Gold International

Gold price higher as dollar hits multiyear low

December 31, 2020December 31, 2020 admin

Gold prices edged higher on Wednesday, as the prospect of increased fiscal aid pushed the US dollar to another multiyear low. However, the ongoing covid-19 vaccine rollouts and increased risk appetite limited bullion’s gains. Spot gold advanced 0.4% to $1,885.05 per ounce by 11:35 a.m. EST, while US gold futures rose 0.3% to $1,889.30 per ounce in New York. On Wednesday, the dollar index fell to its lowest since April 2018 following US Senate Majority Leader Mitch McConnell’s decision to delay a vote on increasing covid-19 relief checks to $2,000.… Read More Here

Gold International

Gold prices fall on the market after the signing of the economic recovery project in the United States

December 30, 2020December 30, 2020 admin

Gold prices retreated on Monday after US President Donald Trump signed a long-awaited pandemic aid bill, which pushed bullion to a peak a week earlier. Spot gold was down 1.6% to $ 1,877.11 an ounce after rising more than $ 1,900 an ounce during trading hours in Asia. US gold futures slipped 0.1% to $ 1,881.50 on Comex. Meanwhile, the dollar index trimmed losses after falling 0.2% to a week-low low, which outweighed bullion’s appeal to other currency holders. President Trump passed a $ 2.3 trillion pandemic aid and spending law… Read More Here

Gold International

Gold miners set for another banner year

December 29, 2020December 29, 2020 admin

The good times for gold miners are expected to continue next year, especially for those that are able to tighten spending and increase returns to investors. The rally in gold prices has helped miners expand their margins and generate record levels of free cash flow, allowing many to pass on profits to shareholders already, Scotiabank analyst Tanya Jakusconek said. “With miners’ balance sheets in great shape, we believe investors will benefit from much higher dividends over the coming years,” Jakusconek wrote in a note to clients. Kinross Gold Corp., for… Read More Here

Gold International

Gold price pulls back following US stimulus deal

December 29, 2020December 29, 2020 admin

Gold prices retreated on Monday following US President Donald Trump’s signing of a long-awaited pandemic aid bill, which pushed bullion to a one-week high earlier. Spot gold was down 1.6% to $1,877.11 per ounce by 12:25 p.m. EST after rising over $1,900 per ounce during Asian trading hours. US gold futures slipped 0.1% to $1,881.50 on the Comex. Meanwhile, the dollar index pared losses after falling by 0.2% to a one-week low earlier, which took away bullion’s appeal for other currency holders. On Sunday, President Trump signed into law a… Read More Here

Gold International

Policy Watch: A colonial outlook has stunted India’s gold-mining sector

December 28, 2020December 28, 2020 admin

Despite its talk about ease of doing business in this country, India’s laws on mining are beginning to resemble a direct copy and paste from the rules the British created. Britain wanted to ensure that no Indian should become a wealth generator. So, among other things, they created a law which empowered provincial governments to refuse to grant of a prospecting licence or even to put up the mining rights for sale by auction. Fast forward to today, and you can see history repeating itself. Graft and power are great… Read More Here

Gold Economy Mining in Zambia

Zambia to buy gold from First Quantum to boost reserves

December 27, 2020December 27, 2020 arnbethnic

Zambia, which last month became Africa’s first pandemic-era default, will begin buying gold from Canada’s First Quantum Minerals (TSX: FM) and a state-owned miner for the first time in 25 years, as it seeks to boost foreign-exchange reserves currently near record lows. Under a gold-buying deal inked Friday between the country’s central bank and First Quantum, Zambia will acquire all the gold produced as a by-product of the company’s Kansanshi copper mine. The operation generated 145,000 ounces of gold in 2019 and is expected to produce 220,000–235,000 tonnes of copper, and 120,000–130,000 ounces… Read More Here