Category: Gold

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) today reported preliminary Q1 production of 940 thousand ounces of gold and 40 thousand tonnes of copper, as well as preliminary Q1 sales of 910 thousand ounces of gold and 39 thousand tonnes of copper. As previously guided, Barrick’s gold and copper production in 2024 is expected to progressively increase each quarter through the year, with the Pueblo Viejo plant expansion ramping up from Q2 and the Porgera mine restart continuing in line with plans. We remain on track to achieve our… Read More Here

South Sudan’s government has announced its plans to work with Qatari gold firm United Gold Factory to establish mining marketing stations in mineral-rich areas in the country. The marketing stations will be used to organize small-scale mining enterprises in South Sudan and facilitate the trade of refined extractive resources. The marketing stations will also serve to formalize the mining sector, improving working conditions and hours, wages as well as health and safety concerns. In addition to streamlining activities in the sector, support for local miners will also allow for better… Read More Here

Fortuna Silver, a Canadian mining powerhouse, is reshaping the mining landscape in West Africa with its Séguéla and Yaramoko gold mines in Ivory Coast and Burkina Faso, respectively. Together, these mines produced 61,733 ounces (1750 kg) of gold in the first quarter of the current year, marking a significant 49% increase from the previous year. In Ivory Coast, Fortuna Silver owns 90% of the Séguéla gold mine, with the Ivorian Government holding the remaining 10%. This ownership structure has enabled the company to generate robust cash flow and intensify its… Read More Here

Mali’s industrial gold output is expected to drop by about 14% this year to 53.7 metric tons, mines ministry data showed on Monday. The West African country, one of the continent’s top gold producers, is home to industrial mines operated by international companies including Barrick Gold, B2Gold Corp, Resolute Mining and Hummingbird Resources. Its industrial gold production stood at 66.5 metric tons last year, almost unchanged from 66.2 tons in 2022. The mines ministry did not provide reasons for this year’s lower forecast. The data showed Barrick Gold is the… Read More Here

Russian mining firm Infinity is set to inject up to $1 billion into Egypt’s gold mining industry, aiming to not only bolster its own business portfolio but also invigorate the country’s extractive sector. Infinity has announced its participation in a bidding round initiated by the Egyptian mining company Shalateen Mineral Resources. The objective is to explore and exploit gold and associated minerals in Egypt, with a focus on the resource-rich basins of Baramiya and Hamata. This substantial investment by Infinity is anticipated to create around 100,000 jobs. Additionally, it includes… Read More Here

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, 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

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