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Category: Gold

Gold Ore Prices Show Increment in Early April 2024, Boosting DR Congo's Economy 1 Mining in DRC Economy Gold 

Gold Ore Prices Show Increment in Early April 2024, Boosting DR Congo’s Economy

Constance
Gold ore prices saw a slight increase in the first week of April 2024, continuing a trend that had been progressing well for several weeks. Data from the National Mercurial Commission of the Ministry of Foreign Trade of the Democratic Republic of Congo indicated that during the week of April 1 to 6, a gram of gold sold at 70.45 USD, compared to 69.91 USD the previous week, marking a 0.77% increase. This upward trajectory in gold prices globally is expected to positively impact the economy of the Democratic Republic… Read More Here
Barrick Gold eyes Peru expansion 2 International Gold 

Barrick Gold eyes Peru expansion

Constance
Barrick Gold is looking to acquire assets in Peru as its push for global expansion continues. According to local newspaper Gestión, a subsidiary of the Canadian mining company, Barrick Peru, submitted a request to obtain a mining concession for 400 hectares of land in the Puno region in the south-east of Peru. Submission of the request marks a step towards further exploration and extraction of mineral resources in the area, where Barrick first carried out exploration two years ago. In a statement referring to the company’s financial results, president and… Read More Here
West African Resources Reports Strong First Quarter Gold Production at Sanbrado Operations 3 International Gold 

West African Resources Reports Strong First Quarter Gold Production at Sanbrado Operations

Constance
West African Resources, an ASX-listed unhedged gold mining company, has announced the production of 56,595 ounces of gold in the first quarter at its Sanbrado gold operations. The gold production, derived from milling 844,000 tonnes of ore at a head grade of 2.2 g/t and a recovery rate of 93.9%, remained consistent with the output recorded in the preceding quarter of December 2023. During the quarter, underground mined ounces witnessed a notable increase of 22% quarter-on-quarter, with 105,000 tonnes of ore extracted from M1 South at a grade of 8.1… Read More Here
Caledonia Mining Seeks Funding from African Banks for Zimbabwe Gold Mine 4 International Gold 

Caledonia Mining Seeks Funding from African Banks for Zimbabwe Gold Mine

Constance
Mark Learmonth, CEO of Caledonia Mining Corporation, revealed on Wednesday that African development banks are the prime candidates to finance the company’s proposed $250 million gold mine project in Zimbabwe. Caledonia, the owner of the Blanket gold mine in Zimbabwe, is in the process of updating a feasibility study in preparation for constructing a new mine at Bilboes. This new venture aims to yield a minimum of 170,000 ounces per year, potentially making it the largest gold mine in the country. Despite Zimbabwe’s abundance of mineral resources, including platinum group… Read More Here
Primera Gold DRC SA Advocates for Transparency in Gold Supply Chain 5 Mining in DRC Gold 

Primera Gold DRC SA Advocates for Transparency in Gold Supply Chain

Constance
Joseph Kazibaziba, the General Director of Primera Gold DRC SA, emphasized the importance of transparency in the gold supply chain during a session held in Bukavu on March 29, 2024. Kazibaziba urged actors in the supply chain, including traders, buyers, cooperatives, and various Congolese state services, to recognize that gold trading must no longer be conducted clandestinely, emphasizing the necessity for a traceable supply chain. In a press release, Kazibaziba reiterated Primera Gold DRC’s commitment to benefit artisanal miners by ensuring that their work yields maximum returns, aligning with the… Read More Here
Barrick Subsidiaries Settle UK Claims Over Tanzania Gold Mine Deaths 6 International Gold Mine Safety 

Barrick Subsidiaries Settle UK Claims Over Tanzania Gold Mine Deaths

Constance
A UK legal action against Barrick Gold’s subsidiaries alleging killings and injuries of local residents by police engaged for security operations at the Canadian mining giant’s North Mara gold mine in Tanzania has been settled out of court. Barrick, announcing the settlement on its website yesterday, stated that there was no admission of liability on the part of its subsidiaries. No details about the content of the settlement were provided. Fourteen Tanzanian citizens made claims against Barrick’s UK subsidiary, Acacia Mining (now known as Barrick TZ Limited) for alleged human rights incidents between… Read More Here
Zimbabwean Geologist Discovers World's Largest Gold Resource Worth Billions 7 Gold International 

Zimbabwean Geologist Discovers World’s Largest Gold Resource Worth Billions

Constance
PhD recipient Dr Steve Chingwaru’s groundbreaking research in geomatallurgy is turning heads. At just 26, he’s uncovered potentially the world’s largest invisible gold resource, valued at R450 billion. Obtaining a PhD at 26 is already a massive achievement, but what makes Chingwaru’s graduation from Stellenbosch University (SU) even more remarkable is his groundbreaking geometallurgy research that has garnered interest from mining companies around the globe. Chingwaru has uncovered what is potentially the world’s largest invisible gold resource. Originally from Zimbabwe and growing up in Johannesburg with his aunt, the gifted… Read More Here
North of Superior Healthcare Group and Barrick Donate $1 Million to Families Closer to Home Campaign 8 International Corporate social responsibility Gold 

North of Superior Healthcare Group and Barrick Donate $1 Million to Families Closer to Home Campaign

Constance
The North of Superior Healthcare Group (NOSH) and Barrick Gold Corporation (Barrick) are pleased to announce a significant milestone in the Families Closer to Home Campaign. Barrick has generously donated $1 million towards the campaign, propelling the fundraising efforts over halfway to its $2 million goal. The Families Closer to Home Campaign, initiated by NOSH, aims to address the pressing need for enhanced long-term care facilities in the Marathon, ON area. With the strain on the province’s long-term care system, local residents have faced challenges including relocation away from home,… Read More Here
Barrick Academy to Empowering Frontline Leaders for Sustainable Mining 9 International Gold 

Barrick Academy to Empowering Frontline Leaders for Sustainable Mining

Constance
Barrick Gold Corporation has announced a significant initiative aimed at enhancing leadership capabilities within its operations in the Africa and Middle East region. Over the next 24 months, the Barrick Academy will provide specialized training to more than 2,000 foremen, supervisors, and superintendents. Designed to cultivate individual growth and leadership skills, these tailor-made programs will equip frontline managers with the tools to effectively lead their teams and drive improved performance across operations. The inauguration of this world-class training facility takes place at the former Buzwagi mine site in Tanzania. This… Read More Here
Gemfields Evaluates Options for Nairoto Gold Prospect in Mozambique 10 Gemstones Gold International 

Gemfields Evaluates Options for Nairoto Gold Prospect in Mozambique

Constance
Gemfields, a leading ruby and emerald miner, is considering seeking a partner or exploring a potential sale for its Nairoto gold prospect in Mozambique, depending on drilling results. During the company’s annual results announcement on Monday, CEO Sean Gilberton emphasized that while Gemfields is not inclined to become a long-term gold production company, it remains open to strategic partnerships or divestment of the Nairoto project. The decision regarding Nairoto will be heavily influenced by the drilling and assay results, particularly from the TL5 section of the project. Despite initial interruptions… Read More Here

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