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Category: Gold

Ghana and Gold Fields Reach Transitional Agreement on Damang Mine 1 Gold Corporate News 

Ghana and Gold Fields Reach Transitional Agreement on Damang Mine

Constance
Ghana’s government and Gold Fields have agreed on a transitional plan for the Damang mine following the country’s decision to assume operational control after rejecting the company’s lease renewal application—a break from the tradition of automatic renewals. In a statement on Wednesday, the Ghanaian presidency announced that a new 12-month mining lease will be issued to a Gold Fields subsidiary, pending parliamentary ratification in May. During the transition period, Gold Fields will resume open-pit mining activities and conduct feasibility studies to determine Damang’s remaining reserves and future mine life. The… Read More Here
Gold Mine Collapse in Eastern DRC Kills at Least 10 Amid Ongoing Conflict 2 Mining in DRC Gold Mine Safety 

Gold Mine Collapse in Eastern DRC Kills at Least 10 Amid Ongoing Conflict

Constance
At least 10 people have been confirmed dead following the collapse of a gold mine in eastern Democratic Republic of Congo, according to Douglas Dunia Masumbuko, the M23-appointed governor of South Kivu province. The incident occurred at the Luhihi mine, with Masumbuko warning that the death toll could rise due to the number of injuries sustained. He attributed the collapse to “uncontrolled construction and poor maintenance of gold wells” in the area. Mining accidents are common in the DRC, particularly at small, artisanal mining sites where safety standards are often… Read More Here
Gold Prices Set to Surge Beyond $4,000 as DRC Output Slumps 3 Mining in DRC Economy Gold 

Gold Prices Set to Surge Beyond $4,000 as DRC Output Slumps

Constance
Gold prices could soar past $4,000 per ounce in 2026, according to a JP Morgan note published on April 22, 2025. The American bank attributed its bullish forecast to growing recession risks in the U.S. and ongoing trade tensions between Washington and Beijing. JP Morgan projected that gold would average $3,675 per ounce by the fourth quarter of 2025 and surpass $4,000 in the second quarter of 2026. The bank also warned that prices could break these thresholds even earlier if demand exceeds expectations. While global prices were set to… Read More Here
Barrick Gold Considers Exit from Canada with Hemlo Mine Sale 4 Gold Corporate News International 

Barrick Gold Considers Exit from Canada with Hemlo Mine Sale

Constance
Barrick Gold is preparing to sell its last remaining Canadian mine, aiming to take advantage of record-high gold prices and renewed investor interest in North American mining assets. According to sources familiar with the matter, the company initiated the sale process for its Hemlo gold mine in Ontario in April and has engaged Canadian Imperial Bank of Commerce (CIBC) to identify potential buyers and manage the bidding process. Neither Barrick nor CIBC has commented publicly on the matter. If completed, the sale would mark Barrick’s full exit from mining operations… Read More Here
Barrick Gold Sells Assets and Pivots to Copper as Bullion Prices Soar 5 International Copper Corporate News Gold 

Barrick Gold Sells Assets and Pivots to Copper as Bullion Prices Soar

Constance
Barrick Gold, one of the world’s leading gold producers, is seizing the opportunity presented by record-high gold prices to streamline its portfolio and pivot more aggressively toward copper mining. On Tuesday, the company announced the sale of its 50% stake in the Donlin gold project in Alaska to billionaire investor John Paulson and Novagold Resources for $1 billion—well above Toronto-Dominion Bank’s estimated $600 million valuation. This move is part of a broader strategy to divest non-core assets while gold prices remain elevated. Barrick has also hinted at additional asset sales,… Read More Here
Ghana Orders Foreigners to Exit Local Gold Trade by April 30 6 Gold International 

Ghana Orders Foreigners to Exit Local Gold Trade by April 30

Constance
Ghana has ordered all foreign nationals to exit its local gold trading market by April 30, as part of a broader effort to streamline gold purchases from small-scale miners, boost national earnings, and curb smuggling. Africa’s top gold producer is moving away from a system where both local and foreign companies with export licenses could purchase and export gold from artisanal and small-scale miners. Under the new framework, only the newly established Ghana Gold Market Authority—known as GoldBod—will be authorized to buy, sell, assay, and export artisanal gold. According to… Read More Here
Barrick International Corporate News Gold 

Barrick Gold Warns of Looming Crisis as Tensions with Mali Escalate

Constance
Canada-headquartered Barrick Gold has issued a stern warning to the government of Mali, stating that the future of its flagship Loulo-Gounkoto gold mine is in jeopardy due to a worsening standoff over taxes and regulatory actions. In a statement released on Wednesday, the Toronto-based gold miner accused a “small group of individuals” within Mali’s government of blocking a fully negotiated agreement—reached in February with the Ministry of Finance—for political or personal reasons. Despite Barrick already paying $85 million last year as part of ongoing negotiations, the agreement remains unsigned. “The… Read More Here
Copper and Gold Prices Climb Amid South Kivu Supply Disruptions 7 Copper Gold Mining in DRC 

Copper and Gold Prices Climb Amid South Kivu Supply Disruptions

Constance
Copper and gold prices continued their upward trend last week, driven in part by supply disruptions in the Democratic Republic of Congo (DRC). According to the Ministry of Foreign Trade’s price bulletin for the period of April 7 to 12, 2025, copper is trading at $9,916.25 per tonne, while gold has risen to $98.04 per gram on the global market. Copper prices rose slightly from $9,791.15 per tonne the previous week, maintaining the upward momentum observed since the end of March. Gold prices also increased, climbing from $96.86 per gram… Read More Here
Barrick Gold Eyes Copper Future with Proposed Name Change to Barrick Mining Corp 8 Gold Corporate News International 

Barrick Gold Eyes Copper Future with Proposed Name Change to Barrick Mining Corp

Constance
Barrick Gold Corp., the world’s second-largest gold producer and listed on the New York Stock Exchange under the ticker “GOLD,” is signaling a major strategic shift — one that leans heavily into copper. The Canadian mining giant has proposed changing its name to Barrick Mining Corp., dropping “Gold” from its title in a move that underscores its growing focus on copper and its diversification beyond its traditional bullion roots. Barrick is currently investing $6 billion into developing a massive copper project in Pakistan, set to launch in 2028 and operate… Read More Here
Mali’s Mining Revenue Surges 52.5% Despite Drop in Gold Output 9 Gold International 

Mali’s Mining Revenue Surges 52.5% Despite Drop in Gold Output

Constance
Mali’s state revenue from gold mining companies surged by 52.5% in 2024, driven by higher tax collection and increased dividend payments following the enforcement of a new mining code, according to a mines ministry document seen by Reuters. The West African nation, one of the continent’s top gold producers, is home to major mining firms including Barrick Gold, B2Gold, Resolute Mining, Endeavour Mining, and Hummingbird Resources. Revenue paid by mining companies to the national treasury rose to 835.1 billion CFA francs ($1.4 billion) in 2024, up from 547.6 billion CFA… Read More Here

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