Gold - Copperbelt Katanga Mining

Allied Gold Sells 50% Stake to UAE's Ambrosia in $500M Deal to Boost Operations 1

Canadian mining company Allied Gold has sold a 50% stake to UAE-based investment fund Ambrosia Investment Holding in a $500 million deal. The transaction includes $250 million in upfront cash, providing Allied with the necessary capital to accelerate operations at the Sadiola Mine in Mali and the Kurmuk Mine in Ethiopia. The partnership will create a joint venture focused on expanding Sadiola’s operations, including the deployment of solar PV and battery energy storage systems in collaboration with UAE-based ATGC by July 2026. The first-phase expansion is set to increase gold… Read More Here

Mining in DRC Gold New Mining Projects

Loncor Confirms High-Grade Gold Deposits at Adumbi Gold Mine in DRC

February 28, 2025February 28, 2025 Constance

Canadian exploration company Loncor has revealed the results of its deep drilling program at the Adumbi Gold Mine in the Democratic Republic of Congo, confirming high-grade gold deposits at various depths. The company reported intersections of deposits with grades of 26.94 grams per ton (g/t) at 0.45 meters, 5.82 g/t at 16.07 meters, and 4.77 g/t at 22.64 meters. John Barker, CEO of Loncor, explained that hole LADD027, located in the northwest of the Adumbi deposit, intersected the mineralization at a vertical depth of 478 meters below the surface, which… Read More Here

International Corporate News Gold

B2Golds Otjikoto Mine Record Production and Strategic Growth Plans for 2025

February 28, 2025February 28, 2025 Constance

B2Gold’s Otjikoto Mine in Namibia, in which the company holds a 90% interest, had a strong performance in 2024, producing 198,142 ounces of gold, nearly at the midpoint of its guidance range of 185,000 to 205,000 ounces. For the year ending December 31, 2024, the mill feed grade was 1.87 g/t, with mill throughput at 3.34 million tonnes, and a gold recovery rate averaging 98.6%. In the fourth quarter of 2024, the Otjikoto Mine produced 52,452 ounces of gold. The mill feed grade for the fourth quarter was 2.10 g/t,… Read More Here

Gold Corporate News Drilling

Barrick Gold Advances Drilling at Pueblo Grande Project in Dominican Republic

February 27, 2025February 27, 2025 Constance

Barrick Gold (NYSE: GOLD) (TSX: ABX) has launched the next phase of drilling at the Pueblo Grande project, located adjacent to its Pueblo Viejo gold mine in the Dominican Republic. This drilling is part of an earn-in agreement with Precipitate Gold (TSXV: PRG), the project’s owner. The Phase 3 drilling program will target high-priority areas within the Pueblo Grande Norte and Pueblo Grande Sur zones. So far, Barrick has identified two early-stage targets at Pueblo Grande Norte, along with several gold-in-soil anomalies across portions of the Pueblo Grande Sur zone.… Read More Here

Mining in DRC Corporate News Gold

Loulo-Gounkoto Overtakes Kibali as Africa’s Top Gold Mine in 2024

February 16, 2025February 16, 2025 Constance

With a production of 723,000 ounces of gold in 2024—an increase of approximately 6% from the previous year—Mali’s Loulo-Gounkoto mining complex has become Africa’s largest gold-producing mine. It surpassed the Kibali mine in the Democratic Republic of Congo (DRC), which reported a 10% decline in output to 686,000 ounces. The statistics, released on February 12, 2025, by Barrick, highlight a major shift in gold production rankings on the continent. For years, Kibali consistently outproduced Loulo-Gounkoto, but the gap has gradually narrowed. By 2024, the roles reversed, with Kibali struggling to… Read More Here

International Corporate News Gold

Barrick Gold Weighs U.S. Relocation for Greater Market Access

February 15, 2025February 15, 2025 Constance

Toronto-based Barrick Gold (NYSE: GOLD; TSX: ABX) is considering relocating its corporate domicile from Canada to the United States, CEO Mark Bristow told The Globe and Mail. The move could provide greater market efficiency, attract a wider investor base, and position the company for inclusion in the S&P 500 index, triggering automatic purchases by mutual funds and exchange-traded funds. Barrick’s most significant asset is Nevada Gold Mines, a joint venture with Newmont (TSX: NGT; NYSE, ASX: NEM), in which Barrick holds a 61.5% stake. It is the world’s largest gold-producing… Read More Here

International Gold

Barrick Gold’s Dispute with Mali Remains Unresolved as Talks Stall

February 14, 2025February 14, 2025 Constance

Negotiations between Barrick Gold (NYSE:GOLD)(TSX:ABX) and the Malian government over a prolonged dispute regarding payments from the country’s largest gold mine have been suspended without a resolution. Mali is demanding a settlement of 125 billion CFA francs ($197 million) from the Canadian mining giant, Bloomberg News reported, citing local sources. Additionally, the government insists that Barrick comply with its revised mining code, which increases the state’s share of mining revenues and removes tax exemptions. The Loulo-Gounkoto gold complex, developed under CEO Mark Bristow’s leadership at Randgold before its 2018 merger… Read More Here

New Mining Projects Copper Gold News in Brief

African Pioneer Secures £420,000 to Advance Namibia Copper-Gold Project

February 10, 2025February 10, 2025 Constance

London-listed African Pioneer has raised £420,000 from existing and new shareholders to advance its Ongombo copper-gold project in Namibia and support activities in Zambia and Botswana. The funds will be used to analyze gold distribution and its association with copper and magnetite quartzite, assess orebody-wide gold distribution, and plan drillholes in underexplored areas. Additionally, external mining and resource consultants will refine resource estimates for open-pit mineralization and provide recommendations for infill drilling to enhance the overall resource base. The capital will also support discussions with a preferred mining contractor for… Read More Here

International Gold

Mali’s Gold Production Drops 23% Amid Government-Miner Dispute

February 10, 2025February 10, 2025 Constance

Mali’s industrial gold production fell 23% in 2024, dropping to 51 metric tons from 66.5 tons in 2023, according to the country’s mines ministry. This marks the first time in over three years that output has fallen below 60 tons. Mali, one of Africa’s top gold producers, hosts industrial operations run by major international companies, including Barrick Gold, B2Gold Corp, Resolute Mining, and Hummingbird Resources. However, tensions between the government and mining firms have contributed to the decline. A ministry report released on Friday revealed that the production figure excludes… Read More Here

Mining in DRC Economy Gold

DRC Gold Trading Aims for 16 Tonnes of Gold in 2025

February 10, 2025February 10, 2025 Constance

DRC Gold Trading, formerly known as Primera Gold, has set an ambitious target of purchasing 16 tonnes of gold in 2025, with a long-term goal of generating $12 billion for the Democratic Republic of Congo (DRC) over the next five years. The company’s CEO, Joseph Kazibaziba, made this announcement during a press interview over the weekend, highlighting the company’s rapid growth and commitment to formalizing the country’s gold trade. “We are confident that we can exceed 16 tonnes this year, and within five years, we aim to capture more than… Read More Here