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Category: Gold

B2Gold to Invest $10 Million in Fekola Exploration After Mali Settlement 1 Gold Corporate News International 

B2Gold to Invest $10 Million in Fekola Exploration After Mali Settlement

Constance
Canadian miner B2Gold is moving forward with plans to invest $10 million in exploration at its Fekola gold complex in Mali in 2025, following a settlement with the Malian government that has reduced the risk of disruption. In August 2023, Mali introduced a new mining code that increases the state’s share of mining revenues and removes tax exemptions for mining companies. B2Gold was one of the first companies to reach a settlement with the government, resolving an income tax dispute in September 2024 and agreeing to adapt one part of… Read More Here
DRC Gold Trading SA Exports 200kg of Gold in January from Artisanal Mining 2 Mining in DRC Economy Gold 

DRC Gold Trading SA Exports 200kg of Gold in January from Artisanal Mining

Constance
DRC Gold Trading SA, a state-owned mining company in the Democratic Republic of Congo (DRC), announced via its official X account on Tuesday, January 21, that it had exported 200 kilograms of gold during January. The gold was sourced from artisanal and small-scale mining activities. The company revealed that the exports were facilitated by its branches located in Kalemie, the capital of Tanganyika province, and Bukavu, in South Kivu province. Previously known as “Primera Gold,” the company was rebranded as DRC Gold Trading SA. Notably, on December 9, 2024, the… Read More Here
Barrick Gold Supports Pakistan-Saudi Deal for Stake in Reko Diq Mining Project 3 International Corporate News Gold New Mining Projects 

Barrick Gold Supports Pakistan-Saudi Deal for Stake in Reko Diq Mining Project

Constance
Pakistan is still in negotiations with Saudi Arabia over the sale of a minority stake in the Reko Diq copper and gold mining project, controlled by Barrick Gold. Key details, including where the minerals will be processed, remain under discussion. The Pakistani government hopes the agreement will extend beyond exploration to involve some downstream activities within the country, according to Musadik Malik, Pakistan’s petroleum minister. Earlier, the Saudi government announced plans to acquire Pakistan’s minority stake in the Reko Diq project through Manara Minerals Investment Co., a Saudi firm backed… Read More Here
Reko Diq Copper and Gold Project to Boost Pakistan’s Economy with $74 Billion in Cash Flow 4 International Copper Gold New Mining Projects 

Reko Diq Copper and Gold Project to Boost Pakistan’s Economy with $74 Billion in Cash Flow

Constance
The Reko Diq copper and gold project in Pakistan is expected to generate approximately $74 billion in free cash flow over the next 37 years, according to Barrick Gold CEO Mark Bristow. The project, which Barrick co-owns with the governments of Pakistan and Balochistan, is considered one of the world’s largest underdeveloped copper-gold deposits, and its development is expected to have a significant positive impact on Pakistan’s struggling economy. Barrick holds a 50% stake in the mine, with the remaining ownership split between the federal and provincial governments of Pakistan.… Read More Here
FQM ANNOUNCES STRONG 2024 ZAMBIAN PRODUCTION RESULTS AND FOCUS ON SUSTAINABLE GROWTH 5 Mining in Zambia Copper Corporate News Gold Nickel 

FQM ANNOUNCES STRONG 2024 ZAMBIAN PRODUCTION RESULTS AND FOCUS ON SUSTAINABLE GROWTH

Constance
First Quantum Minerals (FQM) has announced a strong performance from its Zambian operations in 2024, with strong copper, gold, and nickel production. The company also reaffirmed its focus on sustainability and operational resilience, with the S3 Expansion project on track for completion in mid-2025. The mining firm achieved annual copper production of 431 thousand tonnes (“kt”) in 2024, exceeding the guidance range of 400 to 420kt. Kansanshi achieved its highest copper and gold production since 2021 and 2022, respectively, predominately driven by higher grades. Sentinel’s increased copper production reflected higher… Read More Here
Barrick Continues to Unlock Value Embedded in Its Asset Base 6 International Corporate News Gold 

Barrick Continues to Unlock Value Embedded in Its Asset Base

Constance
Barrick is projecting a 30% growth in the production of gold-equivalent ounces from its existing assets by the end of this decade while it continues to unlock the value embedded in its portfolio. Mark Bristow says while Barrick was alert to potentially value-accretive opportunities generated by the consolidation of the industry, it had the rare luxury of doing so from an asset base that would support organic growth well into the future. “Five years ago, we set out to build a sustainably profitable gold and copper business focused on world-class… Read More Here
Congolese Mining Sector Boosted by Rising Tin and Gold Prices 7 Mining in DRC Gold Tin 

Congolese Mining Sector Boosted by Rising Tin and Gold Prices

Constance
The Congolese mining sector is experiencing a significant revival, driven by the recent surge in the price of tin on international markets. According to the latest data from the National Commission of Mercuriales within the Ministry of Foreign Trade, the price of a tonne of tin reached $29,306 USD during the week of December 23–28, 2024. This marks a 1.06% increase compared to the previous week. The Commission’s report also highlights that the price of tin stood at $28,998 USD per tonne during the week of December 16–22, 2024, reflecting… Read More Here
Gold Price Increase Supports DRC's Economic Growth Amid Global Uncertainty 8 Mining in DRC Economy Gold 

Gold Price Increase Supports DRC’s Economic Growth Amid Global Uncertainty

Constance
The price of gold, the Democratic Republic of Congo’s (DRC) leading export mineral, experienced a modest increase during the week of December 16 to 21, 2024. According to data from the National Commission of Mercuriales, part of the Ministry of Foreign Trade, the price of a gram of gold reached $86.05, reflecting a 0.66% increase compared to the previous week. This rise can be attributed to several factors, including increased demand for gold as a safe-haven asset amid global economic uncertainties. As a key source of revenue for the DRC,… Read More Here
Barrick Gold Seeks Arbitration with Mali Over Loulo-Gounkoto Dispute 9 International Gold 

Barrick Gold Seeks Arbitration with Mali Over Loulo-Gounkoto Dispute

Constance
Barrick Gold, the leading gold producer in Mali, has submitted a request for arbitration to the International Centre for Settlement of Investment Disputes (ICSID), a World Bank institution. The Canadian company is seeking to resolve ongoing disagreements with the Malian government concerning the Loulo-Gounkoto mining complex, the country’s largest gold mine. In a press release on December 18, 2024, Barrick confirmed its decision to use ICSID’s services to address the dispute. However, the company has not disclosed the specifics of its claims or the nature of the request. It remains… Read More Here
Barrick’s Pueblo Viejo Remains Committed to Fair Resettlement Process 10 International Gold Press Release 

Barrick’s Pueblo Viejo Remains Committed to Fair Resettlement Process

Constance
 The Barrick operated Pueblo Viejo mine has said it remained committed to an equitable Resettlement Action Plan required to advance the development of the El Naranjo Tailings Storage Facility, which will help extend the life of the mine beyond 2040 while sustaining gold production above 800,000 ounces a year. Barrick’s Dominican Republic country manager, Juana Barcelo, said Pueblo Viejo has been working closely and transparently with those community members who will need to be resettled, including on issues such as the development of the host site, the construction of houses,… Read More Here

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