Gold - Copperbelt Katanga Mining

Barrick Announces Additional Investment in Hercules Silver

November 17, 2023November 17, 2023 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

Mining in DRC Cobalt Copper Gold Governance

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

November 15, 2023November 15, 2023 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

Artisanal mining Gold Mining in DRC

Primera Gold exported 545.7 kg of Artisanal gold in October 2023

November 6, 2023November 6, 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

Gold Corporate News

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

November 6, 2023November 6, 2023 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

Mining in DRC Artisanal mining Copper Diamond Gold

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

November 6, 2023November 6, 2023 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

Artisanal mining Gold Mining in DRC

Mapping Artisanal Mining Sites in Western Mambasa, DRC’s Ituri Province

October 27, 2023October 27, 2023 Constance

The western part of Mambasa territory in Ituri province, Democratic Republic of Congo (DRC), has largely remained off the radar of national authorities and international partners, despite a significant surge in artisanal and small-scale gold mining (ASM) operations. These expansions have not only triggered tensions between various stakeholders but also raised concerns about environmental degradation and insecurity in the region, particularly in the Okapi Wildlife Reserve (OWR). To delve into the intricacies of these issues, the International Peace Information Service (IPIS) conducted a comprehensive study, analyzing 41 mines in western… Read More Here

Gold Events & Expos Mining in DRC

Visionary Prince Nyampala Kicks Off Inaugural DRC National Gold Day

October 27, 2023October 27, 2023 Constance

Prince Nyampala, the visionary behind the inaugural National Gold Day in the Democratic Republic of Congo (DRC), set the stage for a profound dialogue on the significance of gold at the Congo lounge of the Pullman Grand Hotel in Kinshasa on October 24, 2023. In his opening address, Prince Nyampala, who boasts 17 years of expertise in communication, events, and public relations as the Managing Director of ALTESS SARL, emphasized the remarkable rarity of gold. He shared that the Earth takes an astonishing one million years to produce just one… Read More Here

Mining in DRC Gold

Kibali Mining Company’s Transformative Role in DRC’s Gold Industry

October 26, 2023October 26, 2023 Constance

Panelists at the World Gold Day event organized by the Chamber of Mines and the Federation of Congolese Companies (FEC) discussed the remarkable contributions of Kibali mining company to the Democratic Republic of Congo (DRC) over its 14-year existence. During the panel discussion on “the pillars of the revival of the gold industry in the DRC,” Cyril Mutombo emphasized that the Congolese population should benefit from the economic impact created by mining companies in the gold sector. He noted that Africa produces only 45% of the world’s gold, highlighting the… Read More Here

Mining in DRC Economy Gold

DRC Reports Strong H1 2023 Gold Exports at $677.3 Million

October 26, 2023October 26, 2023 Constance

The Democratic Republic of Congo (DRC) exported 15 tonnes of gold during the first six (6) months of the current year (2023) to international markets.According to the report of the Technical Cell of Coordination and Mining Planning of the Ministry of Mines, this volume of export of Congolese raw gold generated revenues of around 677.3 million US dollars during the first half of 2023. Indeed, the Kibali Gold company exported more than 13 tonnes of gold estimated at 556.1 million US dollars. On the other hand, the MCCR company only… Read More Here

Mining in DRC Gold Tin

NGOs Urge EU to Mandate Traceable Imports from DRC Mines

October 25, 2023October 25, 2023 Constance

More than six years after its entry into force, the European Union regulation on the responsible sourcing of tin, tungsten, tantalum and gold from conflict or high-risk areas is struggling to achieve its main objectives, namely breaking the link between mineral exploitation and conflict financing, as well as tackling human rights violations in supply chains, NGOs say. Twenty European non-governmental organizations have jointly issued a statement calling on the EU and its member states to strengthen enforcement of existing rules and adopt new measures to improve supply chain transparency while… Read More Here