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Category: Gold

Tanzanian Parliamentary Committee Lauds Barrick’s Work at North Mara 1 Gold International Press Release 

Tanzanian Parliamentary Committee Lauds Barrick’s Work at North Mara

Constance
 Tanzania’s Parliamentary Standing Committee for Energy and Minerals has commended Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) for the significant turnaround at the North Mara gold mine and its improved relations with the community. Members of Parliament recently visited the mine along with the Deputy Minister of Minerals, Ministry officials, the Regional Commissioner, District Commissioner, ward councilors and village leaders. The delegation was shown the mine’s water treatment plant, tailings storage facility, the Nyabigena and Gokona open pits and a number of Barrick’s community development projects such as Matongo’s agribusiness initiative and secondary… Read More Here
DRC's Main Mining Exports Witnessed Price Decline Last Week 2 Mining in DRC Gold Tin 

DRC’s Main Mining Exports Witnessed Price Decline Last Week

Constance
The average prices of the primary mining export products from the Democratic Republic of Congo exhibited a downward trajectory on the international market last week, from February 12 to 17, 2024, as projected by experts from the Commission Nationale des Mercuriales du Ministry of Foreign Trade. Tin witnessed a slight improvement during the week, trading at 25,805 USD per tonne compared to 25,602 USD per tonne the previous week, marking an increase of 202 USD. Gold also experienced an upward trend, reaching 65.72 USD per gram, up from 65.56 USD… Read More Here
Barrick Gold CEO Bristow Dismisses Interest in Piecemeal Bids for FQM's Assets 3 International Copper Gold 

Barrick Gold CEO Bristow Dismisses Interest in Piecemeal Bids for FQM’s Assets

Constance
Barrick Gold Corp’s CEO Mark Bristow stated on Wednesday that the company is not interested in fragmented discussions when questioned about bidding for any of First Quantum Minerals Ltd’s assets. Bristow clarified that Barrick Gold did not engage with First Quantum shareholders during any roadshow to assess their support for a potential takeover, refuting a media report from the previous month. “I’m not interested in working on any sort of piecemeal discussion,” Bristow told Reuters in an interview following the company’s quarterly earnings report. First Quantum, facing challenges after an… Read More Here
Barrick Announces New Share Buyback Program 4 International Gold Press Release 

Barrick Announces New Share Buyback Program

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
Clear Strategies and Strong Partnerships Set Barrick Up to Outperform 5 Gold International 

Clear Strategies and Strong Partnerships Set Barrick Up to Outperform

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
ZCCM-IH Refutes Allegations of Losing Control Over Kasenseli Gold Mine 6 Mining in Zambia Gold Press Release 

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

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
Uganda Strengthens Border Control Measures for Gold Shipments 7 International Gold Mining in Uganda 

Uganda Strengthens Border Control Measures for Gold Shipments

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
Barrick Continues To Be a Major Value Creator for Mali 8 Gold Economy International Mining revenue 

Barrick Continues To Be a Major Value Creator for Mali

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
Kibali Gold Mine Sets Benchmark for Sustainable and Automated Mining 9 Mining in DRC Electricity Gold Press Release 

Kibali Gold Mine Sets Benchmark for Sustainable and Automated Mining

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
Tragic Mine Collapse Claims Lives of Over 40 Artisanal Gold Miners in Mali 10 International Artisanal mining Gold 

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

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

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