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Category: Gold

AngloGold Ashanti Signs $9 Million Exploration Deal with EcoGraf in Tanzania 1 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 2 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
Barrick’s Sustainability Strategy Delivers Real Value to Stakeholders 3 International Gold 

Barrick’s Sustainability Strategy Delivers Real Value to Stakeholders

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – Almost $12 billion of economic value generated by Barrick’s mines last year remained in the countries in which it operates, according to the company’s 2023 Sustainability Report published today. Barrick president and chief executive Mark Bristow says real, tangible sustainability can only be achieved through a holistic approach aligned to the United Nation’s Sustainable Development Goals. Barrick’s conformance with ESG standards is a natural by-product of its sustainable business philosophy and not its driver. “Barrick’s distinctive approach to sustainability has evolved over many years, guided… Read More Here
South Africa Was Africa's Top Gold Producer in 2023 4 International Gold 

South Africa Was Africa’s Top Gold Producer in 2023

Constance
In 2023, global gold investment trends show that production reached over 3,000 tonnes, with Africa contributing 370 tonnes, or 11.67%. Despite holding around 40% of the world’s gold reserves, Africa’s output, led by South Africa, Ghana, and Mali, suggests potential for growth. Smuggling issues, particularly in the DRC, impact accurate accounting, with an estimated $3 billion in gold annually misattributed due to illegal trade. China topped the 2023 production charts, accounting for 12% of global output, and led as the largest buyer with its central bank purchasing 225 tonnes. Gold… Read More Here
Endeavour Mining Successfully Completes Senegal Mine Expansion Project 5 International Gold New Mining Projects 

Endeavour Mining Successfully Completes Senegal Mine Expansion Project

Constance
Endeavour Mining recently announced the successful pouring of the first gold from its Senegal mine expansion project, marking a significant milestone achieved on April 18. This achievement signals the timely and within-budget completion of the BIOX expansion initiative, supported by Egyptian billionaire Naguib Sawiris. The project, which commenced construction two years ago, underscores Endeavour Mining’s commitment to meeting its 2024 output guidance, aiming for a gold production between 1.13 million and 1.27 million ounces. Lawrence Manjengwa, head of operations at Sabodala Gold Operation/Massawa, led the expansion effort, positioning it for… Read More Here
Barrick Prioritizes Copper Expansion Amid Renewable Energy Transition 6 Copper Gold Mining in Zambia 

Barrick Prioritizes Copper Expansion Amid Renewable Energy Transition

Constance
The global copper industry has long grappled with underinvestment, hindering its ability to meet the rising demand driven by the worldwide transition to renewable energy. However, Barrick, recognized the critical importance of copper in the greening of the global grid and made its expansion a strategic priority following the merger with Randgold five years ago. Barrick’s thorough review of its global assets identified two significant opportunities: the Lumwana mine in Zambia and the dormant Reko Diq project in Pakistan. The Lumwana mine, once struggling, underwent a remarkable transformation under Barrick’s… Read More Here
Former B2Gold Manager to Lead Avanti's Masisi Gold Project 7 Mining in DRC Gold Mining Personality 

Former B2Gold Manager to Lead Avanti’s Masisi Gold Project

Constance
Canadian mining company Avanti Gold has appointed Lan MacLean, a former manager at B2Gold, as the General Manager for their Masisi gold project in the Democratic Republic of Congo (DRC). The announcement, made on May 7, 2024, underscores Avanti’s commitment to advancing their mining endeavors in Africa. With over 25 years of experience in the mining industry, MacLean brings a wealth of expertise to his new role. His tenure at B2Gold, where he managed operations in Mali and Namibia, positions him well to lead the development of the Masisi project.… Read More Here
Sir Samuel Jonah Appointed as Director and Chairperson of Avanti Gold 8 Gold Mining Personality 

Sir Samuel Jonah Appointed as Director and Chairperson of Avanti Gold

Constance
Canada-listed Avanti Gold has recently appointed Sir Samuel Jonah as director and chairperson of the company, coinciding with its exploration endeavors in a newly acquired area of potential in Botswana. With a distinguished career spanning decades in the mining sector across Africa, Jonah brings invaluable experience to Avanti Gold. His notable roles include serving as the former president of gold miner AngloGold Ashanti and holding positions on the boards of esteemed companies such as Moto Gold Mines, Vodafone Group, Standard Bank Group, Roscan Gold, and Bank of America Corporation’s Global… Read More Here
Barrick Gold CEO Advocates Exploration Over Mergers for Copper Supply 9 International Copper Gold Mergers & Acquisitions 

Barrick Gold CEO Advocates Exploration Over Mergers for Copper Supply

Constance
Mark Bristow, CEO of Barrick Gold (NYSE: GOLD), expressed his belief that mergers and acquisitions (M&A) would not effectively expand the copper supply needed for the energy transition. While mining giant BHP (ASX: BHP) pursues a $39 billion deal for Anglo American (LON: AAL), Bristow emphasized to the Financial Times the importance of companies prioritizing investments in exploring and developing new copper deposits. He argued that BHP’s pursuit of Anglo underscores the necessity for industry investment in its future. Bristow cautioned against the misconception that consolidation automatically leads to increased… Read More Here
Montage Gold Discovers Large Gold Deposit in Ivory Coast 10 Gold International News in Brief 

Montage Gold Discovers Large Gold Deposit in Ivory Coast

Constance
Canadian mining company Montage Gold has made a significant gold discovery at the Koné mining project, located in Ivory Coast. Construction of the Koné mine, with an expected lifespan of around 20 years, is set to start in the last quarter of 2024, with production scheduled to commence in 2027. The processing plant at the Koné project is projected to have an annual capacity of 11 million tons of ore. Martino De Ciccio, CEO of Montage Gold revealed: “The mineral resources of this deposit, the largest mine in the country… Read More Here

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