Gold - Copperbelt Katanga Mining

Barrick Announces New Share Buyback Program

February 16, 2024February 16, 2024 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) announced on Wednesday that it plans to undertake a new share repurchase program for the buyback of its common shares. Barrick’s Board of Directors has authorized a new program for the repurchase of up to $1.0 billion of the Company’s outstanding common shares over the next 12 months at prevailing market prices in accordance with applicable law. In connection with the new share repurchase program, Barrick has terminated the share repurchase program announced by the Company on February 15, 2023. The Company… Read More Here

Gold International

Clear Strategies and Strong Partnerships Set Barrick Up to Outperform

February 16, 2024February 16, 2024 Constance

A strong finish to 2023 boosted Barrick’s full-year gold production to 4.05 million ounces and its copper output to 420 million pounds1 while its Tier One2 gold mines capitalized on a record gold price to deliver a robust financial performance. Commenting on the annual results here today, president and chief executive Mark Bristow said despite picking up the pace in the latter half of the year, Barrick couldn’t quite make up for the challenges it faced in the first half, and gold production fell slightly short of the annual guidance as flagged… Read More Here

Mining in Zambia Gold Press Release

ZCCM-IH Refutes Allegations of Losing Control Over Kasenseli Gold Mine

February 14, 2024February 14, 2024 Constance

ZCCM Investments Holdings Plc (ZCCM-IH) has come forward to address recent allegations circulating in certain media outlets regarding the purported loss of control over the Kasenseli Gold Mine. Contrary to these reports, ZCCM-IH asserts that the resumption of mining operations at Kasenseli Gold Mine is on the horizon, following the amicable resolution of disputes and the necessary consent to mine being granted. One of the key hurdles in the path to resuming operations was the resolution of disputes raised by one of the Kasenseli Gold Company Limited shareholders, Kampoko Resources… Read More Here

International Gold Mining in Uganda

Uganda Strengthens Border Control Measures for Gold Shipments

February 12, 2024February 12, 2024 Constance

Uganda has recently implemented stringent measures to enhance the verification of products entering its borders, particularly focusing on gold shipments. The Uganda Revenue Authority (URA) issued a notice informing clearing officers of a new rule aimed at ensuring the legitimacy of such imports. According to a report by the East African, the URA has written to Ugandan airlines, warning that gold shipments will be denied unless exporters provide proof of payment clearance. This move comes as a response to concerns about the violation of East African Community Customs Management due… Read More Here

Gold Economy International Mining revenue

Barrick Continues To Be a Major Value Creator for Mali

January 31, 2024January 31, 2024 Constance

Barrick Gold Corporation and its predecessor, Randgold Resources, has been a valuable partner to Mali for 27 years and, in the face of many challenges, continues to work tirelessly with the Transition Government of Mali and local stakeholders to plot a new course for the country’s mining industry and promote it as an investment destination, says president and chief executive Mark Bristow. Speaking to the media, Bristow said during this time its mines had contributed almost $10 billion to the Malian economy in the form of taxes, royalties, salaries and… Read More Here

Mining in DRC Electricity Gold Press Release

Kibali Gold Mine Sets Benchmark for Sustainable and Automated Mining

January 31, 2024January 31, 2024 Constance

KINSHASA, DEMOCRATIC REPUBLIC OF CONGO – Kibali, the largest gold mine in Africa, is now also one of the greenest mines on the African continent, Barrick president and chief executive Mark Bristow told media at a briefing on Monday January 29th. Much of the electricity that drives Kibali is already supplied by its three hydropower stations. Once the mine’s new 16 megawatt solar plant and additional battery energy storage infrastructure, designed to back up the hydropower supply during the region’s dry season, are commissioned, it is expected the mine’s overall renewable electricity… Read More Here

International Artisanal mining Gold

Tragic Mine Collapse Claims Lives of Over 40 Artisanal Gold Miners in Mali

January 25, 2024January 25, 2024 Constance

More than 40 artisanal gold miners lost their lives last week in southwest Mali when the shaft they were working in collapsed, as reported by Mali’s mines ministry on Wednesday. The incident highlights the dangers associated with artisanal mining, a prevalent activity in West Africa that has witnessed increased demand and higher metal prices in recent years. Artisanal miners often use outdated and unregulated methods, leading to frequent deadly accidents. The tragedy occurred on Friday in the Kangaba Cercle in the south-western Koulikoro Region. While the ministry’s statement on Tuesday… Read More Here

International Gold

AngloGold Ashanti picks 11.7% stake in G2 Goldfields

January 24, 2024January 24, 2024 Constance

South African miner AngloGold Ashanti has completed the acquisition of an 11.7% stake in Canada’s G2 Goldfields for C$22.05m ($16.4m). The transaction involved the purchase of 24.5 million shares at C$0.90 per share, with the net proceeds to support exploration at G2 Goldfields’ Oko project in Guyana. The infusion will also be used for the company’s general corporate requirements. Before this transaction, AngloGold had not held any beneficial ownership in G2 Goldfields. The acquisition of these shares has provided the investor with a significant, non-diluted interest in the company. Future involvement of… Read More Here

International Gold

Barrick’s North Mara and Bulyanhulu Mines Achieve 2023 Production Targets in Tanzania

January 22, 2024January 22, 2024 Constance

Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) – Barrick’s North Mara and Bulyanhulu gold mines have sustained their strong performance and achieved their production guidance for 2023. The mines are part of Twiga Minerals, a joint venture between Barrick and the Government of Tanzania. Speaking to media yesterday, president and chief executive Mark Bristow said the transformation of two derelict mines into a world-class complex which, on a combined basis, produce gold at a Tier One1 level, shows what could be achieved when mining companies and their host governments partner to deliver real… Read More Here

International Gold

Barrick Gold denies meeting First Quantum in Panama

January 22, 2024January 22, 2024 Constance

Barrick Gold has refuted a report from a Canadian newspaper saying that one of the gold miner’s executives had met with First Quantum representatives in Panama last week, to discuss a potential takeover of the troubled copper miner. The Globe and Mail reported on Thursday that Juana Barceló, president of Barrick’s Pueblo Viejo operations in the Dominican Republic, was recently in Panama, where she met First Quantum’s officials to discuss a possible merger or buyout. The publication cited Ebrahim Asvat, a former Panama government’s adviser, as the source. Barrick said… Read More Here