Gold - Copperbelt Katanga Mining

Zimbabwe Plans Transition to Gold-Backed Currency ZiG by 2030

July 7, 2024July 7, 2024 Constance

Zimbabwean President Emmerson Mnangagwa has outlined plans for ZiG, the nation’s new gold-backed currency, to replace the US dollar as the sole legal tender before the 2030 deadline, effectively phasing out the current multicurrency system, Bloomberg reported. Last October, Zimbabwe extended its multi-currency system, anchored by the US dollar, until 2030 to mitigate concerns over upcoming currency policy changes. Speaking at an event in Mutare on Thursday, Mnangagwa emphasized the importance of ZiG’s adoption nationwide: “In two years’ time — in fact, two years is too far — we will… Read More Here

International Gold

Mozambique Recovers Undeclared Gold Amid Efforts to Combat Mineral Smuggling

July 7, 2024July 7, 2024 Constance

The Mozambican government has recovered approximately 30 kilograms of undeclared gold from mining operators in the central province of Manica over recent years. Silva Manuel, Director of the Manica Provincial Service for Infrastructure, Mineral Resources, and Energy, told AIM that this recovery is a result of ongoing tracking efforts aimed at combating mineral exploitation and smuggling. However, the actual quantity of undeclared gold may exceed 30 kilograms. Companies operating in Mozambique’s mining sector have been involved in under-invoicing and tax evasion, resulting in significant financial losses for the state. In… Read More Here

Mining in DRC Gold Press Release

Kibali Gold Mine Extends Production to 15+ Years with Growth and Investment

July 3, 2024July 3, 2024 Constance

KINSHASA, DEMOCRATIC REPUBLIC OF CONGO – Africa’s largest gold mine, Kibali, continues to deliver growth as its strong record of replenishing reserves and resources, and further investment in technology and capacity, position it to sustain its 750,000 ounces annual production past the current 10-year horizon to 15 years and beyond. Speaking to media and other stakeholders yesterday, Barrick president and chief executive Mark Bristow said Kibali was not only Africa’s largest gold mine but also its most automated and, thanks to its three hydropower stations, a leader in renewable energy. When its… Read More Here

Gold International

Barrick Gold’s Missed Opportunities and Future M&A Strategy

June 30, 2024June 30, 2024 Constance

John Thornton, who joined Barrick Gold as a director in 2012, has identified a reluctance in mergers and acquisitions as a major mistake for the company. “Barrick has been, in my view, very slow to say to themselves: the most important thing when you’re buying companies in the mining industry … is just buy it. We have not done that. We have insisted on getting into the weeds, and that has been a mistake.” Thornton recently transitioned from his role as executive chairman of Barrick to a non-executive position after… Read More Here

Mining in DRC Gold Regional conflict

CODECO Militiamen Kill Over 40 in Ituri Gold Mining Village

June 29, 2024June 29, 2024 Constance

More than forty people were killed in a double incursion by militiamen from the Cooperative for the Development of Congo (CODECO) from June 20 to 21, 2024, in the village of Bianda, Djugu territory, in the Ituri province. This tragic event was reported by MINES.CD, citing local sources. Dieudonné Lossa, a civil society activist from Ituri, stated that these attacks targeted gold-producing areas, likely for the purpose of exploiting gold. “These attacked areas are where gold mining takes place, and it is possible that it is a strategic move for… Read More Here

Mining in Zambia Copper Gold Press Release

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