Gold - Copperbelt Katanga Mining

The Karma Mining Services and Rural Development – KMSRD joint venture – JV with ZCCM Investment Holdings to form a gold company “Consolidated Gold Company of Zambia – CGCZ Ltd” for the purpose of developing a gold processing operation in Zambia will take off by end of March 2020. The company in which ZCCM-IH have a shareholding of 45% and 55% for KMSRD respectively has invested about US$ 3.5 million into a laboratory which has been set to determine the gold content accurately in the ore that will be received… Read More Here

Gold Mining in Zambia

The EU donates Gold mining equipment to Zambia’s artisanal miners

May 8, 2020May 8, 2020 arnbethnic

The Zambian government received gold mining equipment financed by the European Union (EU) on Thursday to improve gold mining. Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH) will administer the equipment, that includes four lockers, four gold detectors, 12 turntables, and two gold mine shaker tables to be used in southern Vubwi and Lundazi districts. Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH) is a government agency that holds shares in all mining companies on government’s behalf. The equipment was purchased with EU support as part of the South African Development Community’s… Read More Here

Mining in DRC Covid-19 Gold

Barrick puts Kibali mess behind with agreement to pay DRC early dividend

May 6, 2020May 7, 2020 Copperbelt Katanga News

BARRICK Gold is to pay dividends from the 750,000 ounce a year Kibali mine to the Democratic Republic of Congo (DRC) earlier after heading off attempts by the government to sell its 10% stake in the mine. “We have decided to pay dividends early [to the government,” he said, adding that “the carried partner” normally receives payouts towards the end of the mine’s life “which makes no sense at all”. Bristow was commenting ahead of the firm’s first quarter presentation which was characterised by a strong gold price that helped offset… Read More Here

Gold Mining in DRC

The Chinese Gold Mining Focus

May 5, 2020May 5, 2020 arnbethnic

On November 18, 2019, the Deziwa or Somidez copper and cobalt mines built by CNMC in Congo Gold were successfully completed. CHINA’S INVESTMENT IN CONGO GOLD MINING IS ENTERING A NEW ERA. On November 18, 2019, the Deziwa and Somidez copper and cobalt mines built by CNMC in Congo Gold were successfully completed and put into production. On November 20, the nearby Congolese smelter, LCS Pyrometallurgical, a joint venture between CNMC and Yunnan Copper, successfully set up a test and produced the first batch of raw copper. The simultaneous construction and… Read More Here

Mining in DRC Diamond Gold

Mining Companies in the DRC

May 4, 2020May 4, 2020 arnbethnic

With an estimated USD 24 trillion in untapped mineral deposits of cobalt, diamonds, gold, copper, and other minerals, the DRC is a key mining destination, with a large number of mining companies actively operating across the country. Mining companies in the Democratic Republic of Congo include both large, international mining houses and Artisanal and Small-Scale Mining companies (ASM). DRC’s active mining companies: • African Metals Corp • Amani Gold • AngloGold Ashanti • ARC Minerals Ltd • Armadale Capital Plc • AVZ Minerals Limited • Banro Corporation •… Read More Here

International Gold

Gold price rally back on track

April 24, 2020April 24, 2020 Copperbelt Katanga News

The gold price rally continued on Wednesday as wild fluctuations in the financial markets increased, oil increased by a fifth and physical demand for the metal continued to increase. In the Comex market in New York, gold for delivery in June, the most active contract, rose up to $ 54.60 an ounce, or 3.2%, to $ 1,742.40, wiping out the decline on Tuesday. Gold has risen more than $ 210 an ounce, or 14%, since the beginning of the year as investors flock to safe havens. A week ago, gold… Read More Here

Gold Copper

Q1 Lays Solid Foundation for Barrick’s Full-Year Production Targets

April 23, 2020April 23, 2020 Copperbelt Katanga News

Barrick Gold Corporation had earlier on reported preliminary first quarter sales of 1.22 million ounces of gold and 110 million pounds of copper as well as preliminary first quarter production of 1.25 million ounces of gold and 115 million pounds of copper. President and Chief Executive Mark Bristow said these results positioned Barrick well to achieve its guidance for the year despite the impact of the global Covid-19 pandemic and the resultant lockdowns. Bristow also said comprehensive programs to counter the spread of Covid-19 were in action at all of… Read More Here

Gold International

Armed group robs Mexican gold mine, flees in plane

April 11, 2020April 11, 2020 arnbethnicGold, Gold Bars, Mexico, Mulatos Mine

An armed group stormed a gold mine in northern Mexico and stole bars of gold and silver alloy before fleeing in a light aircraft, mine operator Minas de Oro Nacional said. Minas de Oro Nacional, a subsidiary of Canadian firm Alamos Gold Inc., said in a statement late on Wednesday that the robbery at the Mulatos mine in Sonora state occurred when a group of five “heavily armed” people assaulted security staff who were transferring bars of the precious metals onto a plane. The Mulatos open-pit mine is part of… Read More Here

Mining in DRC Gold

Congo’s Ituri Governor Condemns Rising Insecurity in the Gold Province

April 11, 2020April 11, 2020 arnbethnicDRC, Gold, Ituri

Illicit mining and mineral trafficking are fuelling mine site violence, the governor of the gold-rich Ituri province of the Democratic Republic of the Congo said after armed robbers killed four people, including three Chinese nationals, in a gold mine. The attack occurred at around 1:00 a.m. on the morning of April 5 in a gold site that was mined by the COMIDI cooperative in Irumu, 62 km from the provincial capital of Bunia, the governor said. It was first reported on Monday by China’s official Xinhua news agency. “We can… Read More Here

Gold Corporate social responsibility Mining in DRC

Barrick Donates US$1.5M in the Fight Against Covid-19 in DRC

April 11, 2020April 11, 2020 arnbethnicBarrick, Coronavirus, COVID-19, DRC

Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX), operator of the Kibali gold mine, has announced a $1.5 million support program to help combat and contain the Covid-19 pandemic in the Democratic Republic of Congo. Barrick’s chief operating officer for the company’s Africa and Middle East region, Willem Jacobs, says the company believes the current situation requires a national response from all who have the DRC’s interests at heart. Barrick, as a committed partner to the DRC, has structured a detailed Covid-19 support program for the country, which was communicated to the government at… Read More Here