Gold - Copperbelt Katanga Mining

Zimbabwe Introduces Gold Supply Tracking System to Combat Smuggling

May 31, 2024May 31, 2024 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

May 28, 2024May 28, 2024 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

International Copper Gold

Chile to launch public consultation on tailings regulation

May 27, 2024May 27, 2024 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

International Exploration Gold

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

May 23, 2024May 23, 2024 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

Gold

Barrick Advances Clean Energy Transition Across Global Operations

May 16, 2024May 16, 2024 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

International Gold

Barrick’s Sustainability Strategy Delivers Real Value to Stakeholders

May 15, 2024May 15, 2024 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

International Gold

South Africa Was Africa’s Top Gold Producer in 2023

May 14, 2024May 14, 2024 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

International Gold New Mining Projects

Endeavour Mining Successfully Completes Senegal Mine Expansion Project

May 14, 2024May 14, 2024 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

Copper Gold Mining in Zambia

Barrick Prioritizes Copper Expansion Amid Renewable Energy Transition

May 13, 2024May 13, 2024 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

Mining in DRC Gold Mining Personality

Former B2Gold Manager to Lead Avanti’s Masisi Gold Project

May 9, 2024May 9, 2024 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