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Category: Gold

Minister highlights Zimbabwe mining sector’s growth potential 1 International Gold Lithium 

Minister highlights Zimbabwe mining sector’s growth potential

Constance
By bringing previously unregulated small-scale miners into the formal fold and introducing incentives for established producers, Zimbabwe has boosted its gold output from about 20 t to 35 t a year over the past five years, with the small-scale miners now contributing 60% to the tally, Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa said on Wednesday August 9th. Mutsvangwa, who was speaking at a dinner she hosted in Harare for journalists from ten Southern African Development Community countries, said the country’s gold production was projected to double by 2025. “The mining sector is ripe for faster growth, as gold is literally… Read More Here
B2Gold continues to look at opportunities in Mali 2 Gold International 

B2Gold continues to look at opportunities in Mali

Constance
Vancouver-based B2Gold remains actively committed to exploring expansion opportunities in Mali, despite the government’s proposal to introduce a new mining code. The proposed code aims to enhance the State’s stake in gold mining projects within the country. Under the leadership of the military-led government, discussions are under way with gold mining companies, including B2Gold, regarding potential amendments to the existing mining law that could increase the government’s take in projects from 20% to 35%. B2Gold CEO Clive Johnson has provided assurance on last week’s earnings call that the proposed 2023 mining code will only apply to future developments and that the Fekola mine will continue to be… Read More Here
Barrick CEO sees few good deals despite mining’s M&A revival 3 International Copper Gold 

Barrick CEO sees few good deals despite mining’s M&A revival

Constance
Barrick Gold Corp. won’t be pressured into making any major acquisitions even as its rivals pursue a flurry of deal making in the mining industry, chief executive officer Mark Bristow said. “The market is constantly dragging us into the M&A conversation, and we don’t need that,” Bristow said on Tuesday August 8 in an interview at Bloomberg’s Toronto office. “We’re not anti-M&A — it’s a component of any industry rearrangement — but the problem is that, in the gold industry, most of the tier one assets remaining are embedded in bad assets.… Read More Here
DRC's Mining Exports Drop on Global Markets 4 Mining in DRC Cobalt Copper Gold Zinc 

DRC’s Mining Exports Drop on Global Markets

Constance
The general trend of the main mining products exported from the Democratic Republic of Congo on international markets is downward during the period from August 7 to 12, 2023. According to projections by the National Commission of Mercurials of the Ministry of Foreign Trade, products such as tin, gold and tantalum should experience a drop in price this week. Tin is expected to trade at $28,671 per ton versus $28,820 per ton last week, down $148. As for gold, its price should be around 63.48 USD per gram this week… Read More Here
Zambia's Economic Resurgence Anchored in Copper Prosperity 5 Mining in Zambia Copper Gold Mining in DRC 

Zambia’s Economic Resurgence Anchored in Copper Prosperity

Constance
A nation with a rich legacy of copper production, Zambia’s economic vitality pivots around its burgeoning mining industry. Dominating this landscape is the Copperbelt region, encompassing the mineral-rich Copperbelt Province and adjoining areas in Zambia’s northern territories. This strategic zone contributes a substantial 90% to the nation’s total GDP. The Expansive Copperbelt: Engine of Prosperity Stretching across an impressive 450 kilometers, with a width extending up to 260 kilometers, the Copperbelt region straddles Zambia’s border with the Democratic Republic of the Congo (DRC). The lives of the majority of the… Read More Here
Uganda Gold Plant to Commence Operations in 2024 6 Gold International 

Uganda Gold Plant to Commence Operations in 2024

Constance
Uganda’s Wagagai Gold Mine and Refinery will commence production in March 2024. The large-scale gold mining and refining facility is being developed by Wagagai Mining Limited and planned and designed by gold mining institution Shandong Gold Design Institute of China. Announced during a site visit at the facility, Wagagai Mining Limited’s General Manager, Tan Jiuchang, indicated that the firm will set up all aspects of the mining value chain, which will include mining, beneficiation, smelting, refining, logistics and foreign trade sales. “Our target is to get this facility ready for… Read More Here
Barrick Gold Faces Tough Quest in Seeking a Partner 7 Partnership Gold International 

Barrick Gold Faces Tough Quest in Seeking a Partner

Constance
Barrick Gold Corporation (NYSE: GOLD) is a major gold and copper producer worldwide, but its efforts to increase its copper production through acquisitions have been unsuccessful. First Attempt: Barrick Gold’s Merger with Freeport-McMoRan A potential merger between Barrick Gold and Freeport-McMoRan made sense due to both companies producing gold and copper, with Freeport-McMoRan being predominantly a copper producer. Barrick’s CEO, Mark Bristow, expressed a desire to grow the company’s copper segment, but the merger could not be achieved. Second Unsuccessful Attempt: Acquisition of Canadian Miner First Quantum Minerals Barrick Gold’s… Read More Here
Barrick Readies Porgera for Restart 8 Gold International 

Barrick Readies Porgera for Restart

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) is aiming to restart operations at the Porgera gold mine later this year, president and chief executive Mark Bristow says. This follows the Security Forum and the opening of the Development Forum on July 20, a precondition for the granting of a special mining lease, by the Minister of Mining, the Hon Sir Ano Pala, at an event attended by the Prime Minister, the Hon James Marape, the Governor of Enga Province, Sir Peter Ipatas and several thousand Porgerans. At the same event, the Mining Minister… Read More Here
Barrick Publishes GISTM TSF Disclosures 9 International Gold 

Barrick Publishes GISTM TSF Disclosures

Constance
Barrick, as a member of the International Council on Mining and Metals (ICMM), has fulfilled its commitment to provide disclosure under the Global Industry Standard on Tailings Management (GISTM) for all of its tailings storage facilities that are classified as ‘Very High’ or ‘Extreme’ consequence under the GISTM by August 2023. Barrick has also committed to provide disclosure for the remainder of its operated facilities by August 2025, also in accordance with the GISTM. Providing access to detailed information about our tailings facilities under the GISTM is in keeping with… Read More Here
Four Companies Call on DRC Head of State to Restore Legality on SAKIMA-Primera Gold Contract 10 Mining in DRC Gold 

Four Companies Call on DRC Head of State to Restore Legality on SAKIMA-Primera Gold Contract

Constance
Four partner companies of SAKIMA are making an urgent appeal to the President of the Democratic Republic of Congo, expressing their concern over what they describe as “enormous litigation” resulting from the recently reached agreement with Primera Gold. They are appealing for the President’s intervention to address and contain the situation. Below is their joint statement. DECLARATION OF MINING COMPANIES PARTNERS OF SAKIMA SA IN THE PROVINCES OF NORTH-KIVU, SOUTH-KIVU AND MANIEMA  The public company SAKIMA SA (Société Aurifère du Kivu et du Maniema) and the private company under Emirati… Read More Here

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