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Category: Gold

Tanzania and Burkina Faso Lead Africa’s Push for Gold Sovereignty 1 International Gold 

Tanzania and Burkina Faso Lead Africa’s Push for Gold Sovereignty

Constance
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
Gold Rush Transforms Zimbabwe’s Filabusi Amid Record Prices 2 International Gold 

Gold Rush Transforms Zimbabwe’s Filabusi Amid Record Prices

Constance
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 Partners with Russia to Launch State-Controlled Gold Refinery 3 Gold International 

Mali Partners with Russia to Launch State-Controlled Gold Refinery

Constance
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
Kibali Gold Dominates DRC Gold Production Despite Regional Instability 4 Mining in DRC Corporate News Gold 

Kibali Gold Dominates DRC Gold Production Despite Regional Instability

Constance
According to statistics from the Technical Unit for Coordination and Mining Planning (CTCPM) under the Ministry of Mines, Kibali Gold, a leading industrial gold mining company based in the Haut-Uele province of the Democratic Republic of Congo (DRC), produced 5,865.62 kilograms of gold between January and March 2025. This output represents 99.5% of the country’s total industrial gold production during that period. Kibali Gold significantly outperformed its competitors. MCCR recorded just 18.65 kg (0.3%), followed by Kimia Mining Investment with 4.88 kg (0.083%) and Sokomo (Ding Cheng) with 4.62 kg… Read More Here
Mali Halts Artisanal Gold Mining During Rainy Season for Safety 5 International Gold 

Mali Halts Artisanal Gold Mining During Rainy Season for Safety

Constance
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
DRC Gold Trading SA Moves 280kg of Gold Injects 27M into Maniema 6 Mining in DRC Gold 

DRC Gold Trading SA Moves 280kg of Gold Injects 27M into Maniema

Constance
In a major boost for the Democratic Republic of Congo’s artisanal gold sector, state-owned enterprise DRC Gold Trading SA announced on March 25, 2025, that it had successfully funneled over 280 kilograms of artisanal gold through its Kindu branch in Maniema province—just two months after the branch’s inauguration. The operation has brought more than US$27 million into the provincial economy, a result credited to the company’s strategic partnership with Rawbank. This collaboration supports DRC Gold Trading SA’s mission to formalize the artisanal gold sector and bring its production into the… Read More Here
Barrick Seeks World Bank Intervention as Mali Threatens to Seize Major Gold Mine 7 International Corporate News Gold 

Barrick Seeks World Bank Intervention as Mali Threatens to Seize Major Gold Mine

Constance
Barrick Gold has turned to the World Bank’s arbitration tribunal in an attempt to block the Malian government from taking control of its Loulo-Gounkoto gold mine, amid a deepening legal dispute that threatens the company’s long-standing operations in the West African nation. The move follows the Malian government’s request to a local court to place the mine under provisional administration—a decision expected on June 2. If the court sides with the government, an appointed individual or organization could take over and potentially restart operations at the mine, which has been… Read More Here
Burkina Faso Set to Boost Gold Output as New Mines Come Online 8 Gold International 

Burkina Faso Set to Boost Gold Output as New Mines Come Online

Constance
Burkina Faso is on track to increase industrial gold production in 2025, driven by the ramp-up of operations at Soleil Resources International’s Youga mine and the anticipated launch of West African Resources’ Kiaka project. According to Aristide Belemsobgo, Director General of Mines and Geology at the Ministry of Energy, Mines and Quarries, output from large-scale mining operations is projected to rise by 4% to 55.7 tonnes this year. Gold remains Burkina Faso’s top export earner, a status reaffirmed by junta leader Captain Ibrahim Traoré, who took power in a 2022… Read More Here
Barrick Awaits Court Ruling in Mali Amid Ongoing Dispute Over Mine Control 9 International Corporate News Gold 

Barrick Awaits Court Ruling in Mali Amid Ongoing Dispute Over Mine Control

Constance
Barrick Gold Corporation, listed on the NYSE and TSX, is awaiting a court ruling scheduled for June 2 by the Bamako Commercial Tribunal regarding the Mali government’s attempt to place the Loulo-Gounkoto mining complex under provisional administration. The move follows the government’s formal request submitted to the court on May 8. In response, Barrick’s Loulo and Gounkoto operations filed legal objections on May 22, contesting the government’s demand. A preliminary hearing on May 15 granted the company an opportunity to present its case. In an official statement, Barrick firmly rejected… Read More Here
Kuvimba Mining Seeks $950 Million to Boost Gold and Lithium Production in Zimbabwe 10 Lithium Corporate News Gold International 

Kuvimba Mining Seeks $950 Million to Boost Gold and Lithium Production in Zimbabwe

Constance
Kuvimba Mining House, one of Zimbabwe’s leading mining companies, is looking to raise $950 million to expand its gold and lithium production, CEO Trevor Barnard announced at a mining conference in Victoria Falls. “First and foremost, we need funding,” Barnard said. “We require a significant amount of capital to make our businesses work.” He did not reveal the potential investors involved in the fundraising effort or the timeline for securing the financing. Kuvimba owns some of Zimbabwe’s oldest and most prominent gold mines, including Freda Rebecca and Shamva. The company… Read More Here

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