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Category: Gold

Global Gold Prices Rise 0.93% to Reach $64.97 USD/kg in DRC This Week 1 Mining in DRC Gold 

Global Gold Prices Rise 0.93% to Reach $64.97 USD/kg in DRC This Week

Constance
The general price trend of mining products exported from the Democratic Republic of Congo (DRC) should be stable on the different markets during the period from December 4 to 9, 2023.Only three products including gold, copper and silver are expected to record a slight price increase at the start of December 2023. According to the projections of the National Mercurial Commission of the Ministry of Foreign Trade, gold should trade this week at 64.97 USD per kg against 64.37 USD per kg a week previously, an increase of 0.93 %.… Read More Here
Barrick Named Tanzania’s Employer of the Year 2 International Gold 

Barrick Named Tanzania’s Employer of the Year

Constance
The North Mara Gold Mine has been crowned Employer of the Year at the prestigious 2023 Association of Tanzania Employers (ATE) Awards ceremony. North Mara is operated by Barrick and is jointly owned with the Tanzanian Government through Twiga Minerals Corporation. The distinguished event, held at the Mlimani City Conference Centre in Dar es Salaam, was graced by Honourable Joyce Ndalichako, Minister of State (Prime Minister’s Office) for Labour, Youth, Employment, and Persons with Disabilities. Twiga achieved a resounding triumph by not only securing the top honour as the Employer… Read More Here
Barrick Collaborates with Dominican Authorities for Storm-Affected Communities 3 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 4 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 5 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 6 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 7 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 8 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 9 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 10 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

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