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Category: Gold

Barrick Collaborates with Dominican Authorities for Storm-Affected Communities 1 International Corporate social responsibility Gold 

Barrick Collaborates with Dominican Authorities for Storm-Affected Communities

Constance
The Barrick-operated Pueblo Viejo gold mine is supporting communities in the Sanchez Ramirez province in the Dominican Republic in the wake of a tropical storm which was in excess of a 1 in 500-year event.  Nearly 500mm of rainfall was recorded within a 24-hour period, causing significant flooding, bridge destruction and road blockages.  Operations at Pueblo Viejo were suspended for 72 hours from November 17th, when the storm made landfall. No significant damage to the plant’s infrastructure was reported and processing operations have resumed. No injuries on the mine were… Read More Here
Barrick Supports Consolidated Standard for Responsible Mining 2 Gold International 

Barrick Supports Consolidated Standard for Responsible Mining

Constance
The Copper Mark, Mining Association of Canada, ICMM and the World Gold Council has announced their intention to work together to consolidate their respective responsible mining standards into one single standard. Barrick supports this initiative and has been an advocate of this consolidation for many years. “Having one standard for responsible mining will not only provide clear direction on what good should look like but would reduce the complexity that exists with the numerous standards currently in circulation,” said Barrick president and chief executive Mark Bristow. “It is also crucial… Read More Here
DRC Initiates Central Bank Recapitalization to Strengthen Financial Independence 3 Mining in DRC Economy Gold 

DRC Initiates Central Bank Recapitalization to Strengthen Financial Independence

Constance
The Democratic Republic of Congo (DRC) government has initiated a two-year process, from 2024 to 2025, to recapitalize the Central Bank, aiming to elevate its capital to 213 billion FC in compliance with existing legislation. This endeavor seeks to strengthen the institution’s financial autonomy. Finance Minister Nicolas Kazadi revealed on Tuesday that despite the DRC holding approximately 30% of global reserves, its central bank currently lacks monetary gold. He highlighted an ongoing plan to address this deficiency. While the gold standard system has ceased, gold retains its stature as a… Read More Here
Mali and Russia Set to Establish West Africa's Largest Gold Refinery 4 Gold International 

Mali and Russia Set to Establish West Africa’s Largest Gold Refinery

Constance
Mali has announced a significant milestone in its economic partnership with Russia, revealing plans to construct a gold refinery in the capital city, Bamako. The deal, part of several bilateral agreements between the two nations, outlines the establishment of a refinery boasting an impressive 200-tonne annual capacity, positioning it as the largest of its kind in West Africa. The memorandum of understanding (MoU), while non-binding, signifies a promising collaboration between Bamako and Moscow. However, no specific timeline has been set for the refinery’s construction despite the four-year term outlined in… Read More Here
Primera Gold exported 100 kg more Artisanal Gold from DRC in November 2023 5 Artisanal mining Gold Mining in DRC 

Primera Gold exported 100 kg more Artisanal Gold from DRC in November 2023

Constance
For the second time in November 2023, Primera Gold exported 100,095 kg of gold from artisanal mining, from the Democratic Republic of Congo (DRC) to the United Arab Emirates. These data are specified by the communication services of this company via its X account (Twitter). “At the start of this week, PrimeraGoldDrc SA exported 100.095 kg of gold from artisanal mining to the United Arab Emirates. This is the second export of this month of November 2023,” informs the Primera Gold Communications Unit. Primera Gold’s first export for the month of… Read More Here
Barrick Announces Additional Investment in Hercules Silver 6 International Gold 

Barrick Announces Additional Investment in Hercules Silver

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick”) announced that on November 10, 2023, it purchased 7,000,000 warrants to purchase common shares of Hercules Silver Corp. (“Hercules”) for total consideration of C$6,580,000. The warrants were immediately exercised at their exercise price of C$0.11 per Hercules common share. Prior to its acquisition and exercise of the warrants, Barrick owned 26,556,870 common shares of Hercules and 6,804,918 warrants, representing approximately 12.33% of the outstanding Hercules common shares on a non-diluted basis, and 15.02% on a partially-diluted basis. Barrick now owns 33,556,870 common shares and 6,804,918… Read More Here
DRC's Subcontracting Set to Capture $8.29 Billion in the Mining Sector in 2022 7 Mining in DRC Cobalt Copper Gold Governance 

DRC’s Subcontracting Set to Capture $8.29 Billion in the Mining Sector in 2022

Constance
Subcontracting in the Democratic Republic of Congo (DRC) is emerging as a substantial economic driver, poised to significantly contribute to the country’s economic development. In 2022, this sector is anticipated to yield over $8.29 billion, particularly from the mining industry’s production. During a briefing held on Monday, October 13, 2023, by the Minister of Communication and Media, Patrick Muyaya, Miguel Kashal, the Director General of ARSP, highlighted that the cost of production in the mining sector is 35%. This 35% represents the share allocated to subcontracting companies, linking the success… Read More Here
Primera Gold exported 545.7 kg of Artisanal gold in October 2023 8 Artisanal mining Gold Mining in DRC 

Primera Gold exported 545.7 kg of Artisanal gold in October 2023

Constance
The company Primera Gold SA shipped 171.3 kilograms of gold from artisanal mining in the Democratic Republic of Congo (DRC) to the United Arab Emirates on October 31, 2023. This fourth and final export brought the total exports of artisanal gold captured by the Primera Gold company to 545.7 kilograms for the month of October 2023. “Primera Gold DRC SA shipped, on the last day of October, 171,324.51 grams of gold from artisanal mining to the United Arab Emirates.  This latest export brought to 545,739 grams (545.7 kg) over the… Read More Here
Barrick Sustains Progress with Key Projects and Achieves Improved Production and Efficiency in Latest Quarter 9 Gold Corporate News 

Barrick Sustains Progress with Key Projects and Achieves Improved Production and Efficiency in Latest Quarter

Constance
Barrick’s Q3 results showed improved production at lower costs and confirmed its long term growth forecast. President and chief executive Mark Bristow said the Q3 performance was an improvement on the previous quarter’s and Q4 is expected to be better. Despite the projected second half improvement, gold production is forecast to be marginally below the low end of our annual guidance range. Copper is comfortably on track to meet its guidance for production and costs. Gold production in Q3 was higher than Q2 driven by improved performances at Cortez, Turquoise… Read More Here
CAMI Director General Meets with Mines Minister to Discuss North Ubangi Artisanal Mining Zones 10 Mining in DRC Artisanal mining Copper Diamond Gold 

CAMI Director General Meets with Mines Minister to Discuss North Ubangi Artisanal Mining Zones

Constance
The Director General of the mining cadastre (CAMI) Popol Mabolia Yenga, was received on Wednesday, November 1 by the Minister of Mines Antoinette Nsamba Kalambayi.  The exchanges between these two personalities revolved around the issue of creating artisanal mining zones in the North Ubangi province. After intense lobbying by the new Director General of CAMI, it appears that the head of Mines has signed 8 ministerial decrees which, according to the communications unit, aim at the formal organization of the mining sector in this jurisdiction. One problem among many others… Read More Here

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