You are here

Category: Gold

Gold ZCCM-IH Gold Global markets 

Despite Covid-19 Closures, There is Enough Gold Refining to Meet Demand – LBMA

arnbethnic
The London Bullion Market Association (LBMA) said on Friday that there is more than enough gold refining capacity worldwide to meet demand, and that refineries, shippers and banks are working to move metal.   The closure of several large refineries and most of the world’s air traffic due to the Corona virus outbreak have disrupted the gold supply chain, as has the demand for metal. Gold is often seen as a safe investment in turbulent times. Fears that gold would not be flown from London to New York to meet Tuesday’s… Read More Here
Endeavour Confirms First Case of Coronavirus at a Mine Site in Africa 1 Gold 

Endeavour Confirms First Case of Coronavirus at a Mine Site in Africa

Copperbelt Katanga News
Gold producer Endeavor Mining said Monday that an employee of its Houndé mine in Burkina Faso tested positive for coronavirus and was quarantined on Saturday, but that mining and exploration activities were not interrupted. The employee had mild symptoms hours after arriving from the UK, and the few people in contact with the employee were identified and quarantined. With no symptoms on arrival and the company’s mandatory health screening, Endeavor reinforced its prevention efforts by introducing a mandatory 14-day quarantine period for all employees or contractors arriving in Ivory Coast… Read More Here
Gold Gold International 

Gold price coronavirus losses top $250 an ounce

Copperbelt Katanga News
Gold’s pandemic failure surpassed $ 250 an ounce on 16th of march 2020 Monday, for the seventh consecutive day, as global financial and commodity markets continued to panic. Gold for delivery in April fell on the Comex market in New York to $ 1,450 an ounce on Monday, a decrease of $ 65 an ounce or 4.3% from Friday’s closing price. Last Monday, the metal hit a seven-year high of $ 1,704.30. By the afternoon, contracts for 53 million ounces of gold had changed hands, and gold has returned over… Read More Here
AngloGold Ashanti tightens quarantine policy after Ghana worker gets coronavirus 2 Gold 

AngloGold Ashanti tightens quarantine policy after Ghana worker gets coronavirus

Copperbelt Katanga News
A worker at AngloGold Ashanti’s Obuasi gold mine in Ghana tested positive for coronavirus on Sunday, the company said, and the second known case of the virus at a mine site in Africa. AngloGold Ashanti said operations at the Obuasi mine, where gold production is ramping up, would continue. The infected employee – a Ghanaian who lives in mine accommodation and had recently returned from Britain – is in self-isolation. AngloGold Ashanti said it is working with Ghana’s ministry of health to trace all contacts. Non-essential staff will work remotely… Read More Here
Kinross shuts Toronto office after employee confirmed to have coronavirus 3 International Gold 

Kinross shuts Toronto office after employee confirmed to have coronavirus

arnbethnic
Kinross Gold Corporation (TSX:K; NYSE: KGC) (“Kinross”) was informed on March 10, 2020 that an employee from its Toronto office tested positive for the COVID-19 virus. Kinross values the health and safety of its employees above all other priorities, and as a precaution, closed the Toronto office today for a thorough cleaning and disinfection. Kinross has asked its employees to work from home until at least March 20th when the need for the closure will be re-evaluated. The Company is working directly with Toronto Public Health (TPH) who used current… Read More Here
Barrick eyes $1.3bn lift at Pueblo Viejo gold mine 4 Mining in DRC Gold 

Barrick eyes $1.3bn lift at Pueblo Viejo gold mine

Copperbelt Katanga News
Barrick Gold will look to spend $1.3-billion to extend the life of its Pueblo Viejo mine in the Dominican Republic beyond 2040, CEO Mark Bristow announced earlier this week, as the miner looks to wring more value from its existing assets. The proposed expansion of the processing plant and tailings facility at Pueblo Viejo will enable the mine to exploit lower grades, Bristow told local media and businessmen. The mine, located about 100 km northwest of the capital Santo Domingo, is operated by a joint venture of which Barrick holds 60% and… Read More Here
Karma Mining Services Mining in Zambia Gold 

Zambia buys artisanal gold to formalise unregulated mining

Copperbelt Katanga News
Zambia’s mining  investment arm ZCCM-IH has started buying gold from artisanal and small-scale miners in a bid to formalise the unregulated sector whose ranks have swelled worldwide as gold prices soar. Governments across Africa are scrambling to tackle informal mining  of gold, which has significant health and environmental risks and contributes to illicit flows of money, depriving states of revenue when the metal is smuggled across boarders. Ethiopia, for example, runs artisanal gold buying centres which offer a higher price than the going market rate to attract miners away from… Read More Here
Russia set to overtake China as biggest gold producer from 2029 5 Gold International 

Russia set to overtake China as biggest gold producer from 2029

Copperbelt Katanga News
Research agency Fitch Solutions says global gold mine production growth is set to rebound in the coming years, owing to higher prices and mergers between major mining firms. The agency forecasts global gold production to increase from 107-million ounces this year to 132-million ounces by 2029, averaging a yearly growth rate of 2.4%. This compares with the average growth rate of 0.5% between 2016 and 2018. Fitch further says it is likely that Russia will surpass China as the world’s largest gold miner by 2029. “We expect Russian gold production… Read More Here
Karma Mining Services Gold Mining in DRC 

AJN announces it won’t pursue Sokimo’s Kibali deal

Copperbelt Katanga News
  Canadian junior AJN Resources will not continue with the proposed acquisition of a 10% interest in the Kibali gold mine in the Democratic Republic of the Congo (DRC), the company said on Sunday. AJN announced on February 6 that it had concluded a Memorandum of Understanding (MoU) with state Sokimo to acquire multiple rights in the Democratic Republic of Congo, including a 10% interest in the Kibali gold mine. The global majors, Barrick and AngloGold, each own 45% of Kibali and said they would not approve the sale or… Read More Here
Shanta Gold releases full year results, stock drops 6 Gold 

Shanta Gold releases full year results, stock drops

Copperbelt Katanga News
  Shanta Gold released a report  last week Friday on its final results for 2019, reporting revenue of $112.8 million, up from $103.8 million in 2018. The miner’s focus remained on its flagship asset, the New Luika gold mine in southwest Tanzania, throughout the year, it said. The company produced 84,506 ounces of gold, above 2019 guidance of 80,000 ounces. Cash costs were $544 /oz and all in sustaining costs (AISC) were $777 /oz, within 2019 guidance. Shanta reported net debt reduction of 55% to $14.3 million. “2019 was a successful 12-month… Read More Here

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Copperbelt Katanga Mining will use the information you provide on this form to be in touch with you and to provide updates and marketing.