Category: Gold

Australian mining company Perseus Mining has announced an ambitious target to produce between 515,000 and 535,000 ounces of gold annually over the next five years from its operations in Ghana, Côte d’Ivoire (Ivory Coast), and Tanzania. The Yaouré Mine in Côte d’Ivoire is expected to be the leading contributor, accounting for 34% of total production. Ghana’s Edikan and Sissingué mines are projected to contribute 28% and 10%, respectively. Meanwhile, Tanzania’s Nyanzaga Gold Project, currently under construction since April 2025, is anticipated to supply 28% of the company’s planned output. “In… Read More Here

Mali has officially begun construction of a new gold refinery backed by Russia, a move the country’s military leadership says will strengthen national control over its vast natural resources. The facility, which will have a refining capacity of 200 tons per year, is being built in partnership with Russia’s Yadran Group and a Swiss investment firm. The Malian government will maintain a controlling stake in the project. Speaking at the groundbreaking ceremony in Senou, near the capital Bamako, interim President Colonel Assimi Goita emphasized that the refinery is a key… Read More Here

Burkina Faso has officially increased the government’s free-carried equity stake in major gold mining projects from 10% to 15%, a move aimed at capturing greater value from the country’s most important natural resource. The change is part of the revised Mining Code adopted in August 2024, signaling a significant shift toward resource sovereignty. This reform impacts several high-profile mining projects, including Sanbrado, Kiaka, and Toega, all operated by Australia-listed West African Resources. The company confirmed its agreement to the new terms following negotiations with the Burkinabè government and other industry… Read More Here

Tanzania is intensifying efforts to reclaim control over its gold reserves by mandating that large-scale mining companies process and trade at least 20% of their production domestically. This bold move positions the East African nation among a growing number of African countries seeking to extract more value from natural resources and assert greater sovereignty over their mining sectors. The policy, which aligns with a similar gold legislation enacted in September 2024, is part of a broader shift toward resource nationalism. With global gold prices surging, governments are increasingly focused on… Read More Here

In Filabusi, a small town in southeastern Zimbabwe, the streets are lined with gleaming BMW X5s and Land Rover Defenders. Modern houses—paid for in cash—are springing up across the landscape, and whisky in local bars is sold exclusively by the bottle. This transformation has been fueled by a surge in gold prices over the past three years, culminating in a historic high in 2025. The rally, spurred in part by global economic uncertainty and intensified during former U.S. President Donald Trump’s trade war, has turned gold into a safe-haven asset—and… Read More Here

Mali’s government announced plans to establish a state-controlled gold refinery in partnership with Russian firm Yadran, aiming to boost revenue from its bullion exports. The move comes as West African nations push for greater returns from their natural resources amid rising global commodity prices. The new company, SOROMA-SA, will be majority-owned by the Malian state with a 62% stake, while Yadran will hold the remaining 38%, according to Economy and Finance Minister Alousseni Sanou. The refinery will be constructed on a five-hectare site near Bamako’s airport and is designed to… Read More Here

Mali’s Ministry of Mines has suspended all artisanal gold mining activities from June to September to protect workers from the risk of landslides during the rainy season. The decision follows meteorological forecasts predicting heavy rainfall between June 15 and September 30. “The reason for this suspension is quite simply safety,” a ministry spokesperson told Reuters via text message. This move comes months after Mali, Africa’s second-largest gold producer, banned the issuance of new artisanal mining permits to foreigners in March, following a series of fatal accidents that claimed dozens of… Read More Here