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Category: Gold

Russia on track to become world’s top gold producer by 2029 1 Gold International 

Russia on track to become world’s top gold producer by 2029

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Despite the challenges caused by the covid-19 pandemic, Russia is still hopeful that it will be ranked as the world’s top gold producer by 2029, achieving an average annual growth of 3.7% y-o-y between 2020 and 2029. This forecast was presented in a report by Fitch Solutions Country Risk & Industry Research, whose experts believe that strong domestic gold demand in the short to medium term will support rising gold production in Russia. Despite a 900-strong coronavirus outbreak at Polyus Gold’s Olympiada mine in the Krasnoyarsk region of eastern Siberia,… Read More Here
Barrick Gold Covid-19 International 

Barrick annual production on track despite Covid-19

Copperbelt Katanga News
Barrick is expected to achieve annual production within its 2020 target range. Second quarter results show year-to-date gold production of 2.4 million ounces, mid-year forecast of 4.6 million to 5 million ounces. The company announced that gold production was down 15% from 1.149 million ounces in the second quarter compared to 1.353 million ounces in the same period in 2019, reflecting the coronavirus impact at the Veladero mine in Argentina and the Porgera dispute -Goldmine in Papua New is attributed to Guinea. Barrick ceased production at Porgera and sued the… Read More Here
The world’s best-performing gold stock that doesn’t operate any mines 2 Gold 

The world’s best-performing gold stock that doesn’t operate any mines

arnbethnic
The most successful way to be a gold producer may be to not operate any mines. At least, that’s the business model of DRDGold Ltd., the best-performing stock on the MSCI ACWI Select Gold Miners Investable Market Index this year. The company, which specializes in recovering gold from mine dumps in and around Johannesburg, has surged 271% in 2020, also making it the biggest gainer on South Africa’s FTSE/JSE Africa all share benchmark.  “Everybody is flocking to the arms of gold,” Niel Pretorius, chief executive officer of DRDGold, said in… Read More Here
Gold price breaks new record 5 Gold International 

Gold price breaks new record

arnbethnic
Gold extended its record-breaking run on Thursday, driven by expectations of more monetary response as surging coronavirus cases continue to pummel the global economy.  Spot gold rose 1.0% to $2,060.01 per ounce as of 1:00 p.m. EDT after reaching an all-time high of $2,069.21 earlier in the day. US gold futures also rose 1.1% to $2,073.40 per ounce. GOLD HAS RALLIED MORE THAN 35% SO FAR THIS YEAR “There are mixed signals that the economy is recovering and some of the signs of recovery are relatively superficial as they show aggregate figures… Read More Here
Otjikoto Underground Gold 

Murray & Roberts contracted in a joint venture to establish underground stoping horizon in Namibia

arnbethnic
Vancouver-based B2Gold plans to conduct mining of the Wolfshag zone at its Otjikoto mine in Namibia and has appointed Murray & Roberts Cementation in joint venture with Lewcor Mining to establish the underground stoping horizon.  According to Allan Widlake, new business director at Murray & Roberts Cementation, mobilisation on site has begun and the contract will take 28 months. Otjikoto Mine is Namibia’s largest gold producer and has been in operation since 2015. The Wolfshag zone at Otjikoto comprises a series of shallow, easterly dipping mineralised shoots that sub-crop below… Read More Here
AngloGold CEO Mining Personality Gold 

AngloGold CEO asked to leave after fund pressure

arnbethnic
AngloGold Ashanti Ltd.’s chief executive officer was pushed to leave after shareholders asked for further investigations into a bonus payment by his former employer that he didn’t initially disclose, according to people familiar with the matter.  The mining company announced on Thursday that Kelvin Dushnisky would step down after only two years. That followed a demand from a major shareholder, South Africa’s Public Investment Corp., for an independent probe into a payment of $926,000 from Barrick Gold Corp., according to the people, who asked not to be identified as the details aren’t… Read More Here
Gold Gold Diamond Mining in DRC 

The ounce of gold hits a record high of US $ 1,930.48 on Monday July 27

arnbethnic
 Several exchanges announce that an ounce of gold reached the bar of 1,930.48 USD on Monday July 27th on the market, thus beating the historic level of September 2011 when the yellow metal was trading at 1,921.18 USD.  One ounce of gold corresponds to a weight of 31.103 g of gold. It takes precisely 32.15 ounces of gold to get one kilogram of gold. And so at a price of $ 1,930.48 per ounce of gold, 1 Kg of gold is going to be worth around $ 62,064. For many observers, gold remains… Read More Here
Kibali Gold Mines Covid-19 Corporate social responsibility Gold Mining in DRC 

Barrick Gold reaches $2 million in response to Covid-19 | DRC

arnbethnic
In response to the call by the President of the Republic, Félix Tshisekedi, to support the response to the Covid-19 in the DRC, Kibali Gold Mines and its operator Barrick Gold have brought a batch of equipment and equipment for the response to the Coronavirus pandemic in the city provinces of Kinshasa.  On Saturday, 11 July, The resident representative of Barrick in the DRC and general manager of Kibali Gold Mines, Cyril Mutombo, presented the governor of the Kinshasa provincial city, Gentiny Ngobila, with these equipments and implements consisting of:… Read More Here
Artisanal Mining in DRC Gold 

Cooperation, traceability needed to ensure success of DRC artisanal mining

arnbethnic
The successful integration of a number of artisanal and small-scale mining (ASM) operations in the Democratic Republic of Congo (DRC) has been driven by cooperation with large-scale miners (LSMs), refiners, traders and the embedding of traceability measures, says natural resource transformation nongovernmental and nonprofit organisation IMPACT.   The DRC is a mining hotspot in Africa, known a rich source of gold and battery metal commodities. But it is also known for its many illegal small-scale and informal miners, who sometimes overrun legitimate and licensed mine sites and prospects, thus making it… Read More Here
Conflict Gold 5 Global markets Gold International Mining in Zambia 

Conflict gold back in spotlight as investors flock to safe haven

arnbethnic
As demand for gold as a safe haven surged during the coronavirus pandemic, concerns about sourcing the precious metal responsibly have again been thrust into the spotlight.  A report from Global Witness alleging one of the world’s biggest gold refiners has worked with a supplier that was at risk of having bought conflict metal originating in Sudan is the latest in a series of calls from advocacy groups urging the London Bullion Market Association to scrutinize suppliers more closely. Gold, which is trading near an eight-year high, is one of… Read More Here

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