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Category: Gold

Zambia’s Chamber of Mines Warns of Investor Risks Amid Proposed Mining Reforms 1 Mining in Zambia Copper Gold 

Zambia’s Chamber of Mines Warns of Investor Risks Amid Proposed Mining Reforms

Constance
Zambia’s Chamber of Mines has raised concerns over proposed legislative and policy reforms, calling them “an unprecedented threat” to investors’ rights and warning that they could hinder the country’s goal to significantly boost copper production. The Chamber, which includes major industry players like First Quantum Minerals Ltd. and Barrick Gold Corp., opposes a draft law that would increase state control over certain minerals. It argues that these measures will undermine investor confidence and discourage future investment. In a statement issued on Tuesday, the Chamber criticized President Hakainde Hichilema’s administration for… Read More Here
Barrick Continues to Unlock Value Embedded In Its Asset Base 2 Gold Press Release 

Barrick Continues to Unlock Value Embedded In Its Asset Base

Constance
COLORADO SPRINGS – Barrick is projecting a 30% growth in the production of gold-equivalent ounces from its existing assets by the end of this decade1 while it continues to unlock the value embedded in its portfolio, says president and chief executive Mark Bristow. Speaking at the Gold Forum Americas, Bristow said while Barrick was alert to potentially value-accretive opportunities generated by the consolidation of the industry, it had the rare luxury of doing so from an asset base that would support organic growth well into the future. “Five years ago, we set… Read More Here
AngloGold Ashanti Launches $2.5 Billion Takeover of Centamin 3 International Gold 

AngloGold Ashanti Launches $2.5 Billion Takeover of Centamin

Constance
AngloGold Ashanti has initiated a $2.5 billion share and cash takeover of Centamin, the African gold miner producing 470,000 ounces annually. Centamin’s board has irrevocably supported the offer, which values Centamin shares at 163 pence, reflecting a 36.7% premium to its previous closing price and a 37.6% premium to its 30-day volume-weighted average price. Centamin operates the Sukari gold mine in Egypt, which produced 224,738 ounces in the first half of this year. The company recently completed a definitive feasibility study on its Doropo project in Ivory Coast, estimated to… Read More Here
B2Gold and Mali Govt Reach Agreement on Fekola Mine Operations 4 International Gold 

B2Gold and Mali Govt Reach Agreement on Fekola Mine Operations

Constance
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
Seven Miners Die in Mungwalu Gold Mine Tragedy Amid Heavy Rain 5 Mining in DRC Artisanal mining Gold 

Seven Miners Die in Mungwalu Gold Mine Tragedy Amid Heavy Rain

Constance
On Thursday, September 12, 2024, a tragic incident occurred in the mining region of Mungwalu, Djugu Territory, about 85 kilometers north of Bunia in Ituri, where seven artisanal gold miners lost their lives after heavy rainfall flooded the “Makala” gold mine. According to local civil society reports shared with Radio Okapi, torrential rain caused water to flow from surrounding hills, flooding the mine and trapping the workers inside, unable to escape. This tragedy highlights the unsafe working conditions faced by artisanal miners in the region. Without proper safety measures, miners… Read More Here
Ghana to Launch First Large-Scale Gold Mine in Over a Decade 6 Gold International 

Ghana to Launch First Large-Scale Gold Mine in Over a Decade

Constance
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
DRC Seeks New Gold Buyers After Taking Control of Primera Gold 7 Mining in DRC Gold 

DRC Seeks New Gold Buyers After Taking Control of Primera Gold

Constance
The Democratic Republic of Congo (DRC) is actively seeking new buyers for gold from its eastern regions after gaining full control of Primera Gold, a company previously involved in an exclusive contract to trade gold from these areas. The UAE-based Primera Group recently sold its stake in Primera Gold, which had been a joint venture with the Congolese government. This move ended a controversial agreement that granted Primera Gold sole rights to buy and sell gold mined by small-scale or artisanal miners in eastern Congo. Joseph Kazibaziba, Director-General of the… Read More Here
DRC Gold Output Nears 2023 Total in Just Eight Months 8 Mining in DRC Economy Gold 

DRC Gold Output Nears 2023 Total in Just Eight Months

Constance
The Democratic Republic of Congo (DRC) has seen a remarkable surge in raw gold production, nearly matching last year’s total output in just the first eight months of 2024. According to recent statistics from the Central Bank of Congo (BCC), the DRC’s raw gold production reached 34,526 kilograms by early August 2024. This figure nearly equals the entire production volume for 2023. In comparison, the DRC produced 29,498.09 kilograms of gold in 2022, with industrial mining accounting for 28,492.68 kilograms and artisanal mining contributing a modest 1,005 kilograms. The previous… Read More Here
Mali's 2024 Gold Production on Track to Meet or Exceed 57.3 Metric Ton Target 9 International Gold 

Mali’s 2024 Gold Production on Track to Meet or Exceed 57.3 Metric Ton Target

Constance
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 Partners with Barrick Gold to Explore Tanzania's Nzega Greenstone Belt 10 International Gold 

Mwamba Mining Partners with Barrick Gold to Explore Tanzania’s Nzega Greenstone Belt

Constance
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

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