Category: Gold

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

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

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’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

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