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Category: Gold

Barrick Gold Increases Commitment to Pueblo Grande Project in Dominican Republic 1 International Gold New Mining Projects 

Barrick Gold Increases Commitment to Pueblo Grande Project in Dominican Republic

Constance
Precipitate Gold, a TSX-V-listed company, announced that Barrick Gold has amended their earn-in agreement for the Pueblo Grande project in the Dominican Republic, raising its total required work expenditures from $10 million to $22 million. This represents a 120% increase in Barrick’s financial commitment to the project, which is located next to Barrick’s Pueblo Viejo mine. As per the revised agreement, Barrick must now spend an additional $17 million to fulfill its earn-in obligations, which would grant it a 70% stake in the Pueblo Grande project. Since the original agreement… Read More Here
Bristow Faces Geopolitical Struggles as Mali's Military Junta Targets Barrick Gold 2 International Gold 

Bristow Faces Geopolitical Struggles as Mali’s Military Junta Targets Barrick Gold

Constance
Mark Bristow has spent three decades navigating civil wars and coups to build some of Africa’s richest gold mines, but now, Barrick Gold’s CEO is facing pressure from a cash-strapped Mali junta. This comes after a dispute over the division of economic benefits from the country’s largest gold mine. In 2012, when Mali’s government was overthrown, the junta allowed Bristow’s Randgold Resources to continue operations, even granting special permits for the company to fly gold bullion out of the country. However, the relationship has soured over time, and now, a… Read More Here
Mali Issues Arrest Warrant for Barrick Gold CEO Mark Bristow Amid Rising Tensions 3 Gold International 

Mali Issues Arrest Warrant for Barrick Gold CEO Mark Bristow Amid Rising Tensions

Constance
BAMAKO – Mali, one of Africa’s largest gold producers, has issued an arrest warrant for Barrick Gold CEO Mark Bristow, according to a warrant document seen by Reuters on Thursday. This marks an escalation in the ongoing dispute between the Canadian mining company and the West African nation. The junta-led government of Mali is seeking to increase state revenues from the mining sector as gold prices rise. In an effort to exert pressure on foreign companies, the government has detained mining executives. In September, four senior local employees of Barrick… Read More Here
Kibali Gold Mine Honors Blessed Anuarite Nengapeta at 60th Anniversary Celebration 4 Mining in DRC Events & Expos Gold 

Kibali Gold Mine Honors Blessed Anuarite Nengapeta at 60th Anniversary Celebration

Constance
Kibali Gold Mine, represented by its Country Director, Cyrille Mutombo, participated in the Eucharistic celebration marking the 60th anniversary of Blessed Anuarite Nengapeta in Isiro, Haut-Uélé Province. The colorful ceremony was attended by President Félix Tshisekedi, Prime Minister Judith Suminwa, elected officials, political leaders, and social actors, as well as the diocese of Isiro-Niangara. Kibali Gold Mine, based in the northeastern DRC, attended the event to honor the legacy of Blessed Anuarite, a symbol of morality, religious values, and commitment to promoting what is valuable. “It is a pleasure for… Read More Here
Primera Gold Renamed DRC Gold Trading as State Gains Full Ownership 5 Mining in DRC Economy Gold 

Primera Gold Renamed DRC Gold Trading as State Gains Full Ownership

Constance
The Congolese government has renamed Primera Gold DRC SA to DRC Gold Trading SA following its complete acquisition of the company. Initially established as a joint venture between the Democratic Republic of Congo (DRC) and the United Arab Emirates in December 2022, the company is now fully under Congolese control. Revised statutes formalized the name change, with the shareholding structure now comprising 55% ownership by the state, 15% by Gécamines, and 30% by the Mining Fund for Future Generations (FOMIN). During the 60th anniversary of Blessed Anuarite Nengapeta in Buta… Read More Here
DRC Govt Gains 100% Control of Primera Gold DRC SA 6 Mining in DRC Gold 

DRC Govt Gains 100% Control of Primera Gold DRC SA

Constance
The Congolese government has regained full ownership of Primera Gold DRC SA, acquiring all shares held by its former Emirati partner, Primera Group Limited. This strategic move aims to position the Democratic Republic of Congo (DRC) as the leading exporter of gold from artisanal and small-scale mining, ensuring greater benefits for local communities impacted by mining activities. The transition also involved a redistribution of shares within the company, now renamed DRC Gold Trading SA. The Congolese state holds a 55% majority stake, while Gécamines and the Mining Fund for Future… Read More Here
Gold Prices Dip Amid Stronger Dollar and Geopolitical Shifts 7 International Economy Gold 

Gold Prices Dip Amid Stronger Dollar and Geopolitical Shifts

Constance
Gold prices edged lower on Monday, pressured by a strengthening US dollar following comments from President-elect Donald Trump, who warned BRICS nations against forming a new currency. The rising dollar has made gold more expensive for holders of other currencies, further dampening demand. Spot gold traded at $2,635 an ounce in early Asian hours, after falling nearly 3% the previous week. As of 9:13 a.m. in Singapore, the metal was down 0.4% to $2,632.11, while the Bloomberg Dollar Spot Index rose 0.3%. Other precious metals, including silver, platinum, and palladium,… Read More Here
Northern Star Resources Acquires De Grey Mining in $3.2 Billion Australian Gold Sector Deal 8 International Gold 

Northern Star Resources Acquires De Grey Mining in $3.2 Billion Australian Gold Sector Deal

Constance
Two of Australia’s largest gold miners have struck a groundbreaking AU$5 billion ($3.2 billion) takeover agreement as the gold sector experiences a surge in consolidation driven by record-high commodity prices. Northern Star Resources, operator of the iconic Super Pit gold mine in Western Australia, announced the acquisition of De Grey Mining in an all-share deal. The transaction represents a 37% premium to De Grey’s share price, with its shareholders set to hold a 20% stake in the combined entity. This acquisition marks another significant milestone in global gold sector consolidation.… Read More Here
Resolute Mining Makes Progress on $160 Million Settlement with Mali Government 9 International Gold 

Resolute Mining Makes Progress on $160 Million Settlement with Mali Government

Constance
London- and Australia-listed Resolute Mining has completed a second settlement payment of approximately $50 million to the government of Mali, funded from its existing cash reserves. The company confirmed that the remaining balance of $30 million will be settled by the end of this year using its current liquidity sources. These payments are part of a $160 million settlement outlined in a memorandum of understanding (MoU) signed with the Malian government on November 18. Resolute agreed to the settlement after its CEO and other executives were detained in Mali. An… Read More Here
Ontario Court Dismisses Tanzanian Lawsuit Against Barrick Gold 10 International Gold 

Ontario Court Dismisses Tanzanian Lawsuit Against Barrick Gold

Constance
Dual-listed Barrick Gold has welcomed the Ontario Superior Court’s decision to dismiss a lawsuit brought by 21 Tanzanian nationals alleging human rights abuses by Tanzanian police at the North Mara gold mine. The court ruled that Ontario, Canada, was not the appropriate jurisdiction for the claims. The lawsuit, filed in November 2022, accused Barrick of complicity in extrajudicial killings purportedly committed by police officers stationed at the mine. The plaintiffs argued that Barrick, as the majority owner of the North Mara mine, effectively controlled the police presence and should be… Read More Here

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