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Category: Gold

B2Gold Advances Namibia's Springbok Zone Mining Project within Antelope Deposit 1 International Gold 

B2Gold Advances Namibia’s Springbok Zone Mining Project within Antelope Deposit

Constance
B2Gold has initiated a preliminary economic assessment (PEA) for the Springbok Zone, part of the Antelope deposit, with an eye on starting mining operations in 2026. The Antelope deposit, located approximately three kilometers south of the Otjikoto open pit, includes the Springbok and Oryx Zones, along with a potential third structure known as Impala. The company expects to complete the PEA in the first half of 2025. In the second quarter of 2024, B2Gold released an initial inferred mineral resource estimate for the Springbok Zone, identifying 1.75 million tons grading… Read More Here
Barrick Declares Q3 Dividend and Buys Back Additional Shares 2 International Gold 

Barrick Declares Q3 Dividend and Buys Back Additional Shares

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced the declaration of a dividend of $0.10 per share for the third quarter of 2024. The dividend is consistent with the Company’s Performance Dividend Policy announced at the start of 2022. The Q3 2024 dividend will be paid on December 16, 2024 to shareholders of record at the close of business on November 29, 2024. Barrick also repurchased an additional 4.725 million shares during the third quarter under the $1 billion share buyback program that was announced in February 2024, bringing the total repurchases… Read More Here
Barrick Mines Set to Deliver Strong Finish to the Year 3 International Gold 

Barrick Mines Set to Deliver Strong Finish to the Year

Constance
Toronto – Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) dealt with ongoing challenges and made significant progress on many fronts in the third quarter of the year to keep its annual production and cost guidance within reach on the back of the strong performance anticipated in Q4. Gold production was in line with that of the previous quarter while copper production was up 12% quarter on quarter. The Company said it was on track for a materially improved Q4, driven by the continuing ramp-up of the Pueblo Viejo plant expansion, increased throughput at Nevada Gold… Read More Here
Global Gold Demand Soars Amid Strong ETF Inflows in Q3 4 International Gold 

Global Gold Demand Soars Amid Strong ETF Inflows in Q3

Constance
Healthy inflows into global gold exchange-traded funds (ETFs) significantly boosted gold demand in the third quarter, according to the World Gold Council. Combined with ongoing investor interest in over-the-counter markets, these factors contributed to a series of record-high gold prices during the period. While gold jewelry consumption declined due to rising prices, India experienced a notable rebound following a reduction in gold import duties. Net demand from central banks slowed but remained robust, with official institutions purchasing a net total of 186 tonnes of gold in the quarter. Year-to-date purchases… Read More Here
Caracal Gold Secures Mining License for Kanegele Project in Tanzania 5 International Gold New Mining Projects 

Caracal Gold Secures Mining License for Kanegele Project in Tanzania

Constance
London-listed Caracal Gold has obtained a mining license for its Kanegele project in Tanzania. Caracal’s subsidiary, Tyacks Gold, successfully applied for two mining licenses in December 2023, and the Kanegele project, located within the Nyakafuru area, has now received its first permit. Located in the Lake Victoria Gold Fields, Kanegele lies 140 km southwest of Mwanza, Tanzania’s second-largest city, and benefits from established infrastructure. The Kanegele project encompasses four main deposits—Voyager, Mentelle, Cullen, and Leeuwin—with a Joint Ore Reserve Committee (JORC)-compliant resource estimate of 658,000 oz. Substantial historical mining and… Read More Here
Montage Gold Secures $825 Million for Construction of Côte d'Ivoire's Largest Gold Mine 6 Gold International New Mining Projects 

Montage Gold Secures $825 Million for Construction of Côte d’Ivoire’s Largest Gold Mine

Constance
Montage Gold has successfully raised $825 million in Côte d’Ivoire to finance the construction of the country’s largest gold mine, which is expected to achieve an annual production capacity of 301,000 ounces during its first eight years of operation. This project is set to significantly bolster gold production in Ivory Coast in the long term. In a press release dated October 24, 2024, Montage announced that the funding was secured through a combination of loans and advance sales of future gold production. This financing involved collaboration with one of its… Read More Here
Mali Accuses Barrick Gold of Violating Agreement Amid Revenue Negotiations 7 Gold Corporate News International 

Mali Accuses Barrick Gold of Violating Agreement Amid Revenue Negotiations

Constance
Mali has accused Barrick Gold of failing to meet commitments made in a recent agreement. The Canadian mining company, which operates the Loulo-Gounkoto gold mines in Mali, denied any wrongdoing on Thursday. Barrick, the world’s second-largest gold miner, announced on September 30 that it had reached an agreement with Mali’s government to settle disputes over the Loulo and Gounkoto mines. This announcement followed the brief detention of four Malian employees by authorities. However, in a joint statement dated October 23, Mali’s economy and mines ministries claimed Barrick had not fulfilled… Read More Here
Newmont Sells Akyem Mine in Ghana to Zijin Mining for Up to $1 Billion 8 International Gold 

Newmont Sells Akyem Mine in Ghana to Zijin Mining for Up to $1 Billion

Constance
US-based gold giant Newmont has reached an agreement to sell its Akyem mine in Ghana to Chinese mining firm Zijin Mining for up to $1 billion in cash. This sale is part of Newmont’s ongoing strategy to divest non-core assets following its acquisition of Newcrest Mining in 2023. Last month, the Denver-based company also agreed to sell two Australian assets for up to $475 million. Additional assets on the market include the Éléonore, Musselwhite, and Porcupine mines, along with the Coffee project in Canada, as well as the CC&V mine… Read More Here
Mali Seeks $512 Million in Tax Claims from Barrick Gold Amid Mining Revenue Drive 9 Gold International Mining tax 

Mali Seeks $512 Million in Tax Claims from Barrick Gold Amid Mining Revenue Drive

Constance
Mali’s military government is demanding at least 300 billion CFA ($512 million) in outstanding taxes and dividends from Barrick Gold, as part of a broader initiative to increase revenue from mining companies. Last month, authorities briefly detained four Malian staff members employed by Barrick, the world’s second-largest gold miner. The Canadian company announced on September 30 that it had agreed to collaborate with the government to address existing claims and disputes. These demands follow an audit of mining contracts conducted last year and the government’s push to renegotiate agreements with… Read More Here
Barrick Gold Reports Lower Q3 Production Amid Challenges at Nevada Mines 10 Gold International 

Barrick Gold Reports Lower Q3 Production Amid Challenges at Nevada Mines

Constance
Barrick Gold reported lower-than-expected gold production in the third quarter, attributed to a decline in output at its Carlin and Cortez mines in Nevada, the Canadian miner announced on Wednesday. The Carlin and Cortez mines are part of Nevada Gold Mines, a joint venture between Barrick and U.S.-based Newmont. Total gold output at Nevada Gold Mines decreased to 385,000 ounces in the July-September quarter, down from 401,000 ounces in the previous three months. Despite the decline, Barrick, the world’s second-largest gold producer, anticipates a “materially stronger fourth quarter.” The completion… Read More Here

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