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Category: Gold

Barrick Gold CEO Advocates Exploration Over Mergers for Copper Supply 1 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 2 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
Barrick Declares Q1 Dividend 3 Gold News in Brief 

Barrick Declares Q1 Dividend

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) on 1st of May announced the declaration of a dividend of $0.10 per share for the first quarter of 2024. The dividend is consistent with the Company’s Performance Dividend Policy announced at the start of 2022. The Q1 2024 dividend will be paid on June 17, 2024 to shareholders of record at the close of business on May 31, 2024. “The continued strength of our balance sheet and our global asset base provide us with the ability to maintain the distribution of a robust dividend to… Read More Here
Barrick to Ramp Up Production As It Remains On Track to Achieve 2024 Targets 4 Gold Mining in DRC 

Barrick to Ramp Up Production As It Remains On Track to Achieve 2024 Targets

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has reported its first quarter results which were in line with guidance and position the Company well to meet its full year targets. Gold production is expected to ramp up steadily during the year, supported by the completion of the Pueblo Viejo plant expansion and the resumption of operations at the Porgera mine. Additionally, copper production is also on track to meet the full year’s guidance. Reporting its Q1 results, Barrick said lower production and the consequent higher costs reflected the delayed ramp up at Pueblo… Read More Here
Barrick Announces Extensive Exploration Partnership with Geophysx Jamaica 5 International Exploration Gold 

Barrick Announces Extensive Exploration Partnership with Geophysx Jamaica

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) is pleased to announce that its subsidiary Barrick Gold (International Holdings) Ltd. (“Barrick”) has entered into an exploration earn-in agreement with Geophysx Jamaica Ltd. (“Geophysx”) with respect to certain properties located in Jamaica (the “Agreement”). The Agreement initially provides Barrick with access to approximately 4,000 square kilometers of consolidated land positions throughout the country, with a favorable geological setting comparable to the Dominican Republic, where Barrick operates the Pueblo Viejo mine. Barrick will have the right to work with Geophysx to earn up to an 80%… Read More Here
Nevada Gold Mines Celebrates Official Opening of Goldrush Mine 6 International Gold 

Nevada Gold Mines Celebrates Official Opening of Goldrush Mine

Constance
The Goldrush Project is officially on track to produce 130,000 ounces1 of gold this year and will further enhance the value Nevada Gold Mines (NGM) brings to the state through taxes, employment and meaningful support for communities, said Barrick President and CEO, Mark Bristow, at the project’s opening ceremony attended by Governor Joe Lombardo and local stakeholders. Barrick, which owns 61.5% of the project through the NGM joint venture with Newmont (38.5%), is developing and will operate the mine, scheduled to reach commercial production by 2026 and growing to approximately 400,000… Read More Here
Construction Advances at Blackwater Mine in British Columbia 7 International Gold 

Construction Advances at Blackwater Mine in British Columbia

Constance
Construction at the Blackwater mine in central British Columbia continues to advance according to schedule, positioning the mine for its inaugural gold pour in the latter half of the year. As of March 31, overall construction progress reached approximately 73%, with approximately C$523 million of the guided capital budget, ranging between C$730 million to C$750 million, already expended, as reported by TSX-V-listed Artemis Gold. Steven Dean, Chairperson and CEO, emphasized the pivotal role of the dedicated team overseeing the development of the Blackwater mine. “Execution is paramount in all projects,… Read More Here
Rwanda's Mining Exports to UAE Surpass DRC's by 7% in 2023 8 Mining in DRC Economy Gold Tin 

Rwanda’s Mining Exports to UAE Surpass DRC’s by 7% in 2023

Constance
In 2023, the Rwanda Development Board reported a significant milestone for the country, with foreign exports reaching $3.5 billion, marking a remarkable 17.2% growth compared to 2020. This growth, according to the government institution tasked with accelerating Rwanda’s economic development, stemmed from the export of various raw materials, including raw gold, platinum-plated gold, zirconium, tin, and tungsten. Additionally, essential products like malt, wheat or meslin flour, cereal flours, coffee, tea, and cement contributed to this upward trend. The United Arab Emirates emerged as the primary importer, accounting for 56.9% of… Read More Here
Tragic Earthslide Claims Lives at Mayi-Musi Gold Mine in Djugu 9 Gold Mining in DRC Mining safety Safety & Health 

Tragic Earthslide Claims Lives at Mayi-Musi Gold Mine in Djugu

Constance
A devastating earthslide at the Mayi-Musi mining site in Djugu, located approximately 100 kilometers from Bunia in Ituri province, resulted in the loss of four lives and injuries to three others. According to local sources, the incident occurred on Sunday, April 21, 2024, around 5 p.m., shortly after a light rain. The mining site, which had been abandoned for many years, boasts at least seven gold shafts. Eyewitness testimonies reveal that the seven victims, including four fatalities due to asphyxiation, were inside one of the gold shafts, approximately eight meters… Read More Here
Uganda's Gold Exports Surge, Overcoming Tax Disputes 10 International Gold 

Uganda’s Gold Exports Surge, Overcoming Tax Disputes

Constance
Uganda’s Ministry of Finance recently revealed that gold has reclaimed its position as the country’s primary export. Over the past 12 months leading up to February, the gold trade contributed to 37% of Uganda’s total export revenues. This resurgence follows a period of disruption caused by tax disputes, which reportedly cost Uganda Ush600 billion ($160.77 million). Initially, tax issues had significantly hindered Uganda’s gold trade, which accounts for a substantial 44% of the nation’s export income, as reported by the Bank of Uganda. However, after nearly a year of interruption… Read More Here

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