You are here

Category: Gold

Loncor Gold Sells Makapela Property in the DRC 1 Mining in DRC Gold 

Loncor Gold Sells Makapela Property in the DRC

Constance
Loncor Gold, a Canadian gold exploration firm, has finalized a deal to sell its Makapela property in the Democratic Republic of Congo (DRC) for C$13.5 million in cash. The transaction structure involves a series of progressive payments, starting with an initial C$2 million deposit. CEO John Barker highlighted that Loncor had explored various partnerships over the past 18 months, some of which could have led to considerable equity dilution. However, the sale of the non-core Makapela property is viewed as an opportunistic means to secure significant non-dilutive financing. Barker emphasized… Read More Here
Porgera Gold Mine Set to Restart Production This Month 2 International Gold 

Porgera Gold Mine Set to Restart Production This Month

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) announced today that the Porgera mine in Papua New Guinea (PNG) is set to resume operations later this month and is expected to start pouring gold again in the first quarter of 2024.  This follows the satisfaction of the conditions to the Porgera Project Commencement Agreement, in which a new ownership structure was agreed. Barrick president and chief executive Mark Bristow said the reopening of the mine represented another victory for the company’s host-country partnership model which had been very successful in Tanzania and had also… Read More Here
BLM Approval Paves Way for Goldrush Underground Mine at Barrick's Cortez Complex in Nevada 3 Gold International 

BLM Approval Paves Way for Goldrush Underground Mine at Barrick’s Cortez Complex in Nevada

Constance
The US Bureau of Land Management has issued a Record of Decision (“ROD”) approving Nevada Gold Mines’ (“NGM”) plan of operations for its new Goldrush underground mine at the Cortez Complex near Beowawe, Nevada. The long-life mine is expected to start ramping up production in 2024 after the commissioning of the initial project infrastructure and is forecast to produce 130,000 ounces in 2024 and grow to approximately 400,000 ounces per annum by 2028 (100% basis)1. Barrick and NGM have invested more than $370 million in the project to date and… Read More Here
Global Gold Prices Rise 0.93% to Reach $64.97 USD/kg in DRC This Week 4 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 5 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 6 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 7 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 8 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 9 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 10 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

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Copperbelt Katanga Mining will use the information you provide on this form to be in touch with you and to provide updates and marketing.