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Category: Gold

Epiroc wins large mining equipment order for gold mines in China 1 International Gold Mining Equipment 

Epiroc wins large mining equipment order for gold mines in China

Constance
Stockholm, Sweden: Epiroc, a leading productivity and sustainability partner for the mining and construction industries, has won a large order for underground mining equipment from Shandong Gold Group Co., Ltd for use at three gold mines in China. Shandong Gold Group, one of China’s largest gold mining companies, has ordered a fleet of mine trucks, loaders, and drill- and rock reinforcement rigs to expand production at the Jiaojia, Xincheng, and Sanshandao gold mines. The order is valued at about MSEK 350 and was booked in the fourth quarter 2023. Epiroc… Read More Here
Licoco Commends Primera Gold SA for Advancing Gold Supply Chain Traceability 2 Mining in DRC Gold 

Licoco Commends Primera Gold SA for Advancing Gold Supply Chain Traceability

Constance
The Congolese Anti-Corruption League (LICOCO) congratulates the company Primera Gold DRC SA for “its efforts to publish all its suppliers and mining sites which constitute its supply chain of Gold from artisanal mining”.  Licoco says that these elements are provided in the letter from Primera Gold DRC SA N/Ref. : PG-DRC/DG/JK/BBC/272/2023 of November 1, 2023 addressed to the United Nations Group of Experts. In a press release received on Wednesday, January 10, 2024 the anti-corruption platform encourages the Congolese State Portfolio company to “also publish the taxes, fees, royalties and other… Read More Here
Gold continues to rise this week from January 8 to 13, 2024 in DRC 3 Mining in DRC Gold 

Gold continues to rise this week from January 8 to 13, 2024 in DRC

Constance
The majority of mining export products from the DRC in this week of January 8 to 13, 2024 are on the rise, according to forecasts from the National Mercuriales Commission of the Ministry of Foreign Trade. Gold showed an improvement this week to 66.82 USD per gram against 66.38 USD per gram last week, an increase of 0.44 USD. Tantalum is also up this week at 238.5 USD per kg against 211. USD per kg last week, giving a positive price difference of 5 USD. Zinc also shows an upward… Read More Here
from January 1 to December 11, 2023, Primera Gold exported 4.3 tonnes of artisanal gold 4 Gold Artisanal mining Mining in DRC 

from January 1 to December 11, 2023, Primera Gold exported 4.3 tonnes of artisanal gold

Constance
The Primera Gold company exported, from January 1 to December 11, 2023, 4.3 tonnes of artisanal gold from the Democratic Republic of Congo (DRC) to the Dubai market. This export volume should generate revenues of around 261.5 million US dollars if we stick to the sale price on the Dubai Stock Exchange as of January 9, 2023, i.e. 59,580 dollars for a kilogram of gold. In a press release published on September 30, 2023, the communications department of Primera Gold announced that this company had succeeded in exporting, in nine… Read More Here
Five Mineral Markets to Watch in 2024 5 Battery Metals Coal Diamond Gold International 

Five Mineral Markets to Watch in 2024

Constance
With a focus on sustainable and equitable extraction, COP28 highlighted the pivotal role of critical minerals in securing clean energy supplies and transition value chains. In line with these advancements – which sees global demand more than doubling by 2030 – mineral-rich African countries are strengthening their regulatory frameworks and introducing new incentives to attract mining-focused investments. The second edition of the Critical Minerals Africa summit – slated for October 2024 – will showcase these markets and their role in global supply-demand dynamics over the next decade. Below are the top five… Read More Here
Réunion Gold Settles Alliance Dispute with Barrick Gold 6 Mining in DRC Gold 

Réunion Gold Settles Alliance Dispute with Barrick Gold

Constance
Réunion Gold and Barrick Gold officially settled their claim on Wednesday, December 20, reaching an amicable resolution. The resolution effectively ends all obligations between both entities, given that there’s no ownership remaining as per the alliance agreement. Despite this resolution, Réunion Gold maintains its primary focus on developing and exploring the Oko West project in north-central Guyana, which Barrick had excluded from the alliance back in January 2020. Notably, Barrick holds no rights to reclaim involvement in the project. Oko West, discovered through Réunion’s initial drilling program in 2020, boasts… Read More Here
Burkina Faso: West African Resources Unlocks $100M for Kiaka Project 7 International Gold 

Burkina Faso: West African Resources Unlocks $100M for Kiaka Project

Constance
Mining company, West African Resources, has received $100 million in financing from a fund managed by Sprott Resource Lending Corp. (Sprott) and Coris Bank International SA (Coris) to finance operations at the Kiaka Gold Project in Burkina Faso. The financing is part of a $265-million package that the mining firm secured from Sprott and Coris to support the Kiaka Project and various other operations. According to Richard Hyde, Managing Director at West African Resources, first production from the Kiaka Project is anticipated in the first half of 2025. “Kiaka will… Read More Here
Barrick Sounds Out First Quantum Holders on Possible Bid 8 Gold International 

Barrick Sounds Out First Quantum Holders on Possible Bid

Constance
Barrick Gold Corp. has spoken with some of First Quantum Minerals Ltd.’s major investors to gauge their support for a potential takeover, after the sudden closure of its flagship mine left the Canadian copper producer reeling and wiped out more than half its market value. Barrick Chief Executive Officer Mark Bristow approached some of First Quantum’s largest investors late last year, according to people familiar with the situation, who asked not to be identified as the talks were private. It wasn’t immediately clear if Barrick has made a fresh approach… Read More Here
Illegal Chinese Gold Mining Leaves An Open Wound In Ghana 9 International Gold 

Illegal Chinese Gold Mining Leaves An Open Wound In Ghana

Constance
Chinese national En “Aisha” Huang is well known in Ghana as the “Galamsey Queen,” a nickname bestowed by the local media to describe her status as a kingpin of illegal gold mining operations. Her arrest and recent sentencing are emblematic of Ghana’s serious, ongoing problem with Chinese involvement in illegal artisanal small-scale gold mining (ASM). A Ghanaian court on December 4 sentenced Huang to 4½ years in prison and levied a $4,000 fine for running an illegal mining operation. Authorities told reporters that she will be deported after serving the… Read More Here
Dundee to acquire Osino’s Twin Hills gold project in Namibia for $214 million 10 International Gold 

Dundee to acquire Osino’s Twin Hills gold project in Namibia for $214 million

Constance
Dundee Precious Metals (TSX: DPM) is buying Osino Resources (TSXV: OSI) for C$287 million ($214m) in cash and shares to acquire its advanced-stage Twin Hills gold project in Namibia. The half-stock, half-money deal gives Dundee all of Osino’s shares for C$0.775 each plus 0.0801 of a Dundee share, representing a premium of 44% on the 30-day, volume-weighted average price of Osino stock as of Dec. 15. Osino shareholders will get 7% of the company in the transaction expected to close by June. Twin Hills is an open-pit project with a… Read More Here

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