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Category: Gold

Peru Authorizes Barrick Gold for Southern Border Mining Exploration 1 International Exploration Gold 

Peru Authorizes Barrick Gold for Southern Border Mining Exploration

Constance
Peru’s government has granted Barrick Gold permission to conduct mining explorations in the country’s southern border region, Prime Minister Gustavo Adrianzen announced on Wednesday. According to Peru’s constitution, foreign private investment within 50 km of the country’s border requires approval from the Cabinet of Ministers. “The expansion of our mining portfolio is essential, given that this activity drives the economic reactivation process,” Adrianzen stated during a press conference. Mining is a crucial component of Peru’s economy, accounting for 60% of the nation’s exports, primarily from the copper sector. The government… Read More Here
B2Gold Announces Extensive Drilling Plan for Antelope Underground Project in 2024 2 International Gold 

B2Gold Announces Extensive Drilling Plan for Antelope Underground Project in 2024

Constance
B2Gold plans to drill 39,000 meters at the Antelope underground project in 2024. The Antelope Deposit is located approximately 3 km south of the Phase 5 open pit at the Otjikoto Mine. In 2023, B2Gold completed 20,715 meters of drilling in 37 holes at the Antelope deposit, which includes the Springbok Zone, with intersections of 12.88 g/t Au over 7.60 meters, and the Oryx Zone, with 9.86 g/t Au over 7.48 meters. In January 2024, the company announced positive exploration results from the Antelope deposit, suggesting its potential for underground… Read More Here
Illegal Gold Mining Threatens Okapi Wildlife Reserve in Ituri Province 3 Mining in DRC Gold 

Illegal Gold Mining Threatens Okapi Wildlife Reserve in Ituri Province

Constance
During a workshop organized by the Wildlife Conservation Society (WCS) to present their research findings, it was revealed that over 70 gold mining sites are operating illegally within the Okapi Wildlife Reserve (RFO) in Mambasa territory, Ituri province. Rodrigues Kiluka, Coordinator of stakeholders in the RFO mining industry, highlighted that this illicit gold mining is contributing significantly to the destruction of this protected area. He also condemned the involvement of certain militias in these illegal activities. Mining stakeholders, who are initiating projects to protect the reserve, have expressed their concerns… Read More Here
Barrick Gold Confirms Porgera Mine Operations Unaffected by Massive Landslide in Papua New Guinea 4 International Gold 

Barrick Gold Confirms Porgera Mine Operations Unaffected by Massive Landslide in Papua New Guinea

Constance
Barrick Gold announced on Monday that the Porgera Mine in Papua New Guinea remains fully operational and has sufficient fuel supplies for 40 days, despite a massive landslide in Enga province. The landslide, which buried over 2,000 people according to the government, has created treacherous conditions that are hindering aid efforts and diminishing hopes of finding survivors. The Porgera Mine, an underground gold mine, is operated by Barrick Gold in partnership with China’s Zijin Mining and stakeholders from Papua New Guinea. The mine resumed operations earlier this year following a… Read More Here
SwissAid Report Highlights Massive Gold Smuggling from Africa to UAE 5 International Gold 

SwissAid Report Highlights Massive Gold Smuggling from Africa to UAE

Constance
Billions of dollars worth of gold are smuggled out of Africa every year, with most of it exported to the United Arab Emirates (UAE) for processing, according to a report by SwissAid. The Bern-based non-governmental organization analyzed declared and undeclared gold imports over a ten-year period ending in 2022. They estimate that the illicit trade amounts to between $23.7 billion and $35 billion annually based on current market prices. In 2022 alone, more than 435 tons of gold were smuggled out of Africa. The revenue from this illegal trade fuels… Read More Here
Zimbabwe Introduces Gold Supply Tracking System to Combat Smuggling 6 International Gold 

Zimbabwe Introduces Gold Supply Tracking System to Combat Smuggling

Constance
Zimbabwe’s sole authorized gold buyer, Fidelity Gold Refinery (FGR), will implement a new tracking system to monitor the supply of gold from mines to the market, aiming to curb rampant smuggling. General Manager Peter Magaramombe announced the initiative, which will launch on September 30, during a meeting with miners in the capital city, Harare. The International Crisis Group estimates that Zimbabwe loses approximately $1.5 billion annually due to gold smuggling. The new system will enable real-time monitoring from the initial weighing of bullion by producers to its delivery to FGR… Read More Here
Zimbabwe’s Central Bank Gold Reserves to Back ZiG Currency Rise 7 International Economy Gold 

Zimbabwe’s Central Bank Gold Reserves to Back ZiG Currency Rise

Constance
Zimbabwe’s gold reserves backing its new bullion-linked currency are increasing and the stockpile’s value is also being boosted by the higher price of the precious metal, the central bank said.The Reserve Bank of Zimbabwe is seeing royalty payments of gold “rising daily,” said Deputy Governor Innocent Matshe. “As long as we are mining, gold reserves are increasing by the amount that we produce,” he said Wednesday in a telephone interview. “The proceeds from other precious minerals are being used to stockpile gold.” The central bank will give an update on… Read More Here
Chile to launch public consultation on tailings regulation 8 International Copper Gold 

Chile to launch public consultation on tailings regulation

Constance
Mining Minister Aurora Williams announced that, in July 2024, Chile will launch a public consultation to modify Supreme Decree No. 248, which regulates tailings deposit design, construction, operation and closure. During a presentation at the Sustainable Atacama Seminar, Williams said that while the executive power is in charge of implementing any changes to the decree, citizen participation is a prerequisite to doing so. “Therefore, all of those who live this reality can participate, they can tell us which aspects are properly addressed, which aspects we are missing and which we… Read More Here
AngloGold Ashanti Signs $9 Million Exploration Deal with EcoGraf in Tanzania 9 International Exploration Gold 

AngloGold Ashanti Signs $9 Million Exploration Deal with EcoGraf in Tanzania

Constance
Gold mining giant AngloGold Ashanti has entered into a $9 million, five-year farm-in agreement with ASX-listed junior company EcoGraf for the exploration of gold at the Golden Eagle project in Tanzania. Situated on the eastern margin of the Archean Lake Victoria goldfields, the Golden Eagle project is located within the same structural corridor as the historical Golden Pride mine, which was operated by Resolute Mining and produced 3.4 million ounces of gold. EcoGraf Managing Director Andrew Spinks commented that the agreement with AngloGold, the world’s fourth-largest gold miner, highlights the… Read More Here
Barrick Advances Clean Energy Transition Across Global Operations 10 Gold 

Barrick Advances Clean Energy Transition Across Global Operations

Constance
Barrick’s commitment to reducing greenhouse gas (GHG) emissions is gaining momentum as it reaches key milestones in its transition to clean energy. The commissioning of 50% of the TS Solar Power facility at Nevada Gold Mines (NGM) in April signifies a significant step forward in its greenhouse gas reduction roadmap. With an initial energy-producing capacity of 100 megawatts, the solar facility began supplying power to NGM’s operations in April. Upon completion of the second phase in the second quarter of 2024, adding another 100 megawatts, the solar array will meet… Read More Here

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