Gold - Copperbelt Katanga Mining

Fortuna Mining Eyes Guinea After Burkina Faso Exit Amid Rising Regional Risks

May 6, 2025May 6, 2025 Constance

Canadian miner Fortuna Mining is refocusing its West African operations on Guinea, signaling a strategic shift following its recent exit from Burkina Faso due to escalating security concerns and regulatory uncertainty. CEO Jorge Ganoza confirmed the company’s new direction in an interview with Reuters, stating that while Fortuna currently has no active operations in Guinea, it is conducting site visits and engaging with local authorities as part of its effort to tap into the country’s gold sector potential. This pivot comes as international miners navigate a changing landscape across West… Read More Here

International Gold New Mining Projects

Perseus Commits $523 Million to Tanzania’s Largest Gold Project in Over a Decade

May 4, 2025May 4, 2025 Constance

Australian gold producer Perseus Mining has approved a final investment of $523 million to develop the Nyanzaga Gold Project in Tanzania, marking the country’s most significant gold mine development in more than 17 years. The project will be fully financed from Perseus’ existing cash and gold reserves, which currently total $801 million. The investment will support the construction of a processing plant, related infrastructure, and the overall development of the mine. First gold production is expected in the first quarter of 2027. So far, Perseus has invested $27.5 million to… Read More Here

Gold Economy International

Nigeria Bets on Steel to Diversify Economy and Slash $4B in Annual Imports

May 3, 2025May 5, 2025 Constance

Nigeria is intensifying efforts to revive its long-stagnant steel industry as part of a broader strategy to diversify its oil-dependent economy. At the core of this push are plans to overcome decades of operational and financial setbacks, accelerate industrialization, and achieve self-sufficiency in steel production. On April 14, 2025, Nigerian firm Chart & Capstone Integrate Ltd signed a memorandum of understanding (MoU) with China’s Sinomach-HE to construct a $2.5 billion steel plant in Kogi State. This marks one of the largest initiatives yet in Nigeria’s ongoing campaign to reduce its… Read More Here

International Gold News in Brief

Ghana Arrests Three Indian Nationals Over Alleged Gold Smuggling Ring

April 30, 2025April 30, 2025 Constance

Ghanaian authorities have arrested three Indian nationals accused of smuggling gold out of the country for the past ten years, according to a statement from the Ghana Gold Board. The suspects, aged 42, 35, and 22, were apprehended at their private residence in Kumasi, the country’s second-largest city, following a tip-off. During the raid, officials seized 4.36 kilograms of gold, 1.9 million Ghanaian cedis (approximately $133,333), 4,500 Indian rupees, two currency counting machines, a CCTV recorder, and an Indian passport. Ghana, Africa’s leading gold producer, saw its gold exports surge… Read More Here

International Corporate News Gold

Barrick Gold Corporation Plans to Change Name to BARRICK MINING CORPORATION

April 30, 2025April 30, 2025 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) today announced that it plans to change its name to Barrick Mining Corporation and from « Société aurifère Barrick » to « Société minière Barrick » in French, subject to shareholder approval at its upcoming Annual and Special Meeting of Shareholders on May 6, 2025. In connection with its name change, the Company also plans to change its ticker symbol for the Barrick common shares listed on the New York Stock Exchange from ‘GOLD’ to ‘B’, to become effective at the start… Read More Here

International Corporate News Gold

Barrick Announces Sale of Stake in Donlin Gold Project for Up To $1.1 Billion

April 30, 2025April 30, 2025 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick”) today announced that it has reached an agreement to sell the 50 percent interest in the Donlin Gold Project in Alaska held by Barrick’s subsidiary Barrick Gold U.S. Inc. to affiliates of Paulson Advisers LLC (“Paulson”) and NOVAGOLD Resources Inc. (NYSE American, TSX:NG) for $1 billion in cash. In addition, Barrick has granted NOVAGOLD an option to purchase the outstanding debt owed to Barrick in connection with the Donlin Gold Project for $90 million if purchased prior to closing, or for $100 million if purchased… Read More Here

Gold International New Mining Projects

Burkina Faso Grants Nordgold Mining License to Boost Gold Production

April 28, 2025April 28, 2025 Constance

Burkina Faso’s military-led government has awarded an industrial mining license to Russian miner Nordgold for the development of the Niou gold project, as part of efforts to capitalize on record-high gold prices and strengthen the nation’s economy amid ongoing security challenges. The move reflects deepening economic ties between Burkina Faso and Russia, as the junta that seized power in 2022 continues to shift away from traditional Western allies toward Moscow. The Niou gold deposit, located in Kourweogo province within the Plateau-Central region, spans 52.8 square kilometers (20.4 square miles). It… Read More Here

Gold Corporate News

Ghana and Gold Fields Reach Transitional Agreement on Damang Mine

April 28, 2025April 28, 2025 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

Mining in DRC Gold Mine Safety

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

April 28, 2025April 28, 2025 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

Mining in DRC Economy Gold

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

April 27, 2025April 27, 2025 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