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Category: Gold

Ghana Orders Foreigners to Exit Local Gold Trade by April 30 1 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 2 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 3 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 4 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
Barrick Plans 30% Growth and Considers Rebrand to Reflect Broader Mining Focus 5 Gold Corporate News International 

Barrick Plans 30% Growth and Considers Rebrand to Reflect Broader Mining Focus

Constance
Barrick Gold (NYSE: GOLD, TSX: ABX) announced on Friday that it is advancing a series of growth projects aimed at boosting gold-equivalent production by 30% by the end of the decade. Chairman John Thornton noted that despite a challenging global operating environment, Barrick met its 2024 gold and copper production targets, sustained its record of reserve replacement, and significantly expanded its resource base. “We improved our financial performance despite higher costs,” Thornton said in a statement. “Net earnings rose 69% — the highest in a decade — while operating cash… Read More Here
Insecurity Halts Operations of DRC Gold Trading Amid M23 Occupation 6 Mining in DRC Gold 

Insecurity Halts Operations of DRC Gold Trading Amid M23 Occupation

Constance
DRC Gold Trading SA, a joint venture between the Democratic Republic of Congo and the United Arab Emirates, is no longer able to operate due to the growing insecurity in the region, worsened by the occupation of parts of South Kivu by Rwandan-backed M23 rebels. The company, founded in January 2023, had been pivotal in regulating the gold supply chain in the northeast region of the DRC, where artisanal gold mining is prevalent. DRC Gold Trading SA had a significant role in cleaning up the gold supply chain by reducing… Read More Here
Mali Expects Gold Output Recovery in 2025 Amid Barrick Gold Standoff 7 International Corporate News Gold 

Mali Expects Gold Output Recovery in 2025 Amid Barrick Gold Standoff

Constance
Mali anticipates a slight rebound in industrial gold production in 2025, assuming Barrick Gold resumes operations following a prolonged dispute with the government, according to a document from the country’s mines ministry seen by Reuters on Wednesday. Gold production is projected to reach 54.7 metric tons in 2025, up from 51.7 tons in 2024, which marked a 23% decline from previous years. As one of Africa’s leading gold producers, Mali hosts around 15 operational gold mines, primarily owned by Barrick Gold, B2Gold, Resolute Mining, Endeavour Mining, and Hummingbird Resources. Barrick… Read More Here
Zijin Mining Sees 52% Profit Growth Amid Rising Copper and Gold Prices 8 International Copper Corporate News Gold 

Zijin Mining Sees 52% Profit Growth Amid Rising Copper and Gold Prices

Constance
Zijin Mining Group, China’s largest metals producer, reported a 52% surge in profit for the past year, driven by higher copper and gold prices, as well as increased production. Net income rose to 32.1 billion yuan ($4.4 billion), while sales climbed 3.5% to 303.6 billion yuan, according to an exchange filing. The company had initially expected earnings to increase by 53%, reaching 32 billion yuan. Over the past decade, Zijin has expanded aggressively, becoming a significant global copper supplier through major new projects in the Democratic Republic of Congo and… Read More Here
Gold M&A Activity Set to Surge in 2025 Amid Rising Prices and Limited Discoveries 9 Gold International 

Gold M&A Activity Set to Surge in 2025 Amid Rising Prices and Limited Discoveries

Constance
As in 2023 and 2024, when gold dominated global mining mergers and acquisitions (M&A), the trend is expected to continue in 2025. Experts predict that the rising price of gold and the limited number of major gold discoveries will keep gold at the forefront of M&A activity in the mining sector. Earlier today, South Africa’s Gold Fields announced a $2.1 billion proposal to acquire Australian Gold Road Resources. Although the proposal was swiftly rejected by Gold Road’s board of directors, it highlights the ongoing wave of M&A activity in the… Read More Here

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