Gold - Copperbelt Katanga Mining

BeMetals Announces $7M Private Placement Led by B2Gold

June 29, 2024June 29, 2024 Constance

Vancouver, British Columbia – BeMetals Corp. (TSXV: BMET, OTCQB: BMTLF, Frankfurt: 1OI.F) (the “Company” or “BeMetals”) has announced it intends to complete a non-brokered private placement offering of up to 70,000,000 units (the “Units”) at a price of $0.10 per Unit (the “Offering”) for aggregate gross proceeds of up to $7,000,000. Each Unit will consist of one common share in the capital of the Company (a “Share”) and one-half Share purchase warrant. Each whole Share purchase warrant (a “Warrant”) will entitle the holder thereof to purchase one additional Share at… Read More Here

Mining in DRC Gold

Kibali Gold Mine Facilitates Return of 16 White Rhinos to Garamba Sanctuary

June 28, 2024June 28, 2024 Constance

The Garamba Wildlife Sanctuary, located in Haut-Uélé province, recently welcomed 16 white rhinoceroses from South Africa. This reintroduction initiative aims to protect the habitats of various animals, including elephants, giraffes, and okapis. The successful reintroduction of these endangered species was executed by animal experts and marks the beginning of a larger effort, with more rhinos expected to arrive over the next three years. This significant operation was facilitated by Kibali Gold Mine, a subsidiary of Barrick Gold, a Canadian mining company active in the Watsa and Faradje territories in the… Read More Here

Mining in Zambia Artisanal mining Gold

Senior Chief Shakumbila Urges Govt Action on Illegal Gold Mining in Mumbwa

June 27, 2024June 27, 2024 Constance

Senior Chief Shakumbila of the Sala-ila people in Shibuyunji and Mumbwa districts has revealed that approximately 22 kilograms of illegally mined gold are flown out of the district each month. Speaking during a courtesy call from Minister of Mines and Minerals Development Paul Kabuswe at his palace, the traditional leader lamented the widespread illegal mining activities in the district. “Every month, around 22 kilograms of gold are taken out of our district and sold to private buyers at exorbitant prices, with minimal benefits for our communities,” he stated. The government… Read More Here

Mining in Zambia Copper Drilling Gold

Galileo Resources to Launch Phase 3 Drilling at Zambia’s Shinganda Copper/Gold Project

June 25, 2024June 25, 2024 Constance

Aim-listed Galileo Resources has announced the commencement of a Phase 3 drilling program at its Shinganda copper/gold project in Zambia. This phase aims to validate the company’s belief that near-surface copper and gold mineralization occurs along the Shinganda fault splay over a strike length of more than 4 km, potentially leading to the development of a preliminary mineral resource. Phases 1 and 2 of the drilling program confirmed the presence of copper and gold mineralization associated with major regional and localized structures. Mineralization has been identified in vein and alteration… Read More Here

International Gold Press Release

Barrick Provides Detailed Response to Unsubstantiated UN Human Rights Allegations

June 21, 2024June 21, 2024 Constance

Barrick yesterday published its detailed response to a widely circulated ‘Joint Communication’ from the United Nations Human Rights Council (UNHRC) Special Procedures Branch making allegations regarding, predominantly, police conduct in the areas related to the North Mara gold mine in Tanzania, saying the letter is replete with misconceptions and inaccuracies. Barrick president and chief executive Mark Bristow said the authors of the letter presented allegations as facts and had used inaccurate and outdated information from international human rights NGOs which Barrick thoroughly refuted at the time they were published. “It concerns us… Read More Here

Mining in DRC Energy Events & Expos Gold

Kibali Gold Unveils Ambitious Plan for 100% Renewable Energy in DRC

June 16, 2024June 16, 2024 Constance

Kibali Gold, one of Africa’s largest gold mines, has announced an ambitious plan to transition to 100% renewable energy, supporting the energy transition in the Democratic Republic of Congo (DRC). The announcement was made on Wednesday, June 12, 2024, by Jean Paul Ilunga, an electrical engineer with Barrick Gold Corporation, during the inaugural day of the DRC Mining Week. During a forum focused on investment in the energy sector, Kibali Gold presented a series of innovative projects aimed at transforming its energy profile for a more sustainable future. Discussions centered… Read More Here

International Gold

Central Banks’ Gold Purchases Surge Tenfold in April 2024

June 16, 2024June 16, 2024 Constance

In an analysis published on June 4, 2024, the World Gold Council reported a dramatic increase in central banks’ gold purchases, which surged tenfold in one month. Central banks bought 33 tonnes of gold in April, up from just 3 tonnes in March. The Central Bank of Turkey emerged as the largest buyer during this period, adding 8 tonnes to its official reserves. Other central banks also made significant purchases, including those of Kazakhstan, India, Poland, Russia, and the Monetary Authority of Singapore. While African central banks have historically been… Read More Here

Mining in DRC Economy Gold

DRC to Fully Control Gold Export Venture Amid Slumping Shipments

June 15, 2024June 15, 2024 Constance

The Democratic Republic of Congo (DRC) is finalizing a deal to take full control of Primera Gold DRC SA, a gold-export joint venture with its Emirati partner, after experiencing a significant drop in shipments. Primera Gold DRC SA was launched in January 2023 by the DRC in partnership with Abu Dhabi-registered Primera Group Ltd. The venture aimed to curb gold smuggling that fuels conflicts in the country’s eastern provinces. In its first year, the partnership sold 5 tons of hand-mined gold worth about $300 million. However, sales have since plummeted,… Read More Here

International Gold Press Release

Barrick and Zijin Contribute $1 Million to Support Papua New Guinea Landslide Victims

June 7, 2024June 7, 2024 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) and JV partner Zijin Mining Group announced today that they would jointly contribute US$1 million (Kina 3.8 million) to help communities in Papua New Guinea’s Enga province in the wake of a landslide in Mulitaka that has claimed an estimated 600 lives. A team of senior Barrick executives has spent the week in PNG visiting the disaster site and working with the provincial and national governments as well as officials from the United Nations, the Asian Development Bank, Australia, New Zealand and the United States to… Read More Here

International Gold

B2Gold Completes Sale of Royalties Portfolio to Versamet Royalties

June 6, 2024June 6, 2024 Constance

Canada-based B2Gold announced on Thursday the sale of a portfolio comprising ten precious and base metals royalties to Sandbox Royalties, now renamed Versamet Royalties, a private metals royalty company focused on returns. Valued at approximately $90 million, this move enables B2Gold to unlock the value of its royalties, which CEO Clive Johnson believes have been underappreciated by the market. Under the purchase and sale agreement, Versamet acquired the royalties in exchange for 153.2 million common shares issued to B2Gold at C$0.80 per share, granting B2Gold a 33% equity interest in… Read More Here