Category: Gold

B2Gold (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) has finalized an agreement with the government of Mali to address all issues related to the Fekola mine complex amidst the implementation of a new mining code. The Malian government, now under a new administration, holds a 20% interest in the Fekola mine. In a press release dated September 11, B2Gold confirmed that the Fekola mine complex, which includes the Fekola and Cardinal open pits and the proposed underground project, will continue to operate under the 2012 mining code. This agreement ensures… Read More Here

Ghana, Africa’s leading gold producer, will commission its first large-scale greenfield mine in over a decade this November, with an expected annual production of more than 350,000 ounces. The Cardinal Namdini mine, owned by Cardinal Resources, a subsidiary of Shandong Gold, received its license in 2020. Ghana, also the world’s second-largest cocoa producer, has faced a decline in gold exploration over the past decade, limiting new projects and reducing output from major miners. However, Martin Ayisi, CEO of the Minerals Commission, announced that three additional mines, including a lithium project,… Read More Here

Mali, one of Africa’s leading gold producers, is set to meet or surpass its 2024 industrial gold production forecast of 57.3 metric tons, according to the country’s Ministry of Mines. Gold output from major mining companies, including Barrick Gold, B2Gold, Resolute Mining, Allied Gold, and Endeavour Mining, reached 30.5 tons in the first half of the year, exceeding the initial forecast of 28.4 tons by 7.2%, as per ministry data provided to Reuters. While the 2024 forecast is 14% lower than the 66.5 tons produced in 2023, the country remains… Read More Here

Mwamba Mining (“Mwamba”), dedicated to advancing inclusive and sustainable gold mining in Tanzania, has partnered with Barrick Gold Corporation (“Barrick”) through its Twiga partnership with the Tanzanian Government. This collaboration will focus on exploring Mwamba’s 1,325 km² land position in the Nzega district, an area noted for its significant greenstone belts, which are known to host world-class gold deposits. Under an earn-in agreement, Barrick may invest up to $16.5 million in prospecting and exploration to acquire up to 80% joint venture interest in the Property. Founded in 2018 by Tanzanian… Read More Here

Despite record-high gold prices, South Africa’s gold sector continues to experience a “deep structural decline,” according to Hugo Pienaar, chief economist at the Minerals Council. Reviewing the latest mining production and sales data from Stats SA for the second quarter of 2024, Pienaar highlighted the ongoing challenges in the industry. Since the fourth quarter of 2019, only manganese and chrome have shown growth, while overall mining production in the second quarter of 2024 was 8.7% lower than pre-COVID levels. Iron ore and gold have been the worst performers, with the… Read More Here

Sibanye-Stillwater has refinanced its rand revolving credit facility (RCF), increasing it to R6 billion, and secured R1.8 billion through a gold prepay arrangement to enhance its financial position. CEO Neal Froneman described the gold prepayment as a “proactive, strategic financing alternative” that boosts liquidity while maintaining exposure to potential gold price increases. The RCF refinancing, which includes an option to expand by an additional R1 billion, signals strong support from South African lenders. These measures follow June’s agreement to adjust debt covenants, allowing the company to carry net debt up… Read More Here