Gold - Copperbelt Katanga Mining

DRC Nobel Peace Prize Winner Criticizes Primera Gold Contract

September 1, 2023September 1, 2023 Constance

The 2018 Nobel Peace Prize laureate, Dr. Denis Mukwege, strongly criticized the contract between the DRC and Primera Gold during a rally in Bukavu organized by Catholic youth on Sunday, August 27th. Addressing a crowd of mostly young people, Dr Mukwege expressed concern about the exploitation of Kivu’s resources: “It is unacceptable that a company obtains a monopoly on Kivu’s gold for a nominal fee, depriving thus the Congolese have colossal incomes.” The firm, which is said to have exported more than 3,000 kilos of gold in one half-year, the… Read More Here

Mali’s New Mining Code reinforces State participation

August 31, 2023August 31, 2023 Constance

Mali’s interim President, Assimi Goita, has promulgated a new Mining Code that will allow the military-led government to increase ownership or shareholder control of gold concessions and recover what it declares to be a large shortfall in production revenues. The new code, signed on state television on Monday night, will allow state and local investors to take up to 35 percent stakes in mining projects, up from 20 percent today, and could more than double the contribution of the sector to the Gross Domestic Product, to around 20 percent, indicated… Read More Here

Mining in DRC Gold Regional conflict

DRC: Ongoing Debate Over Government Grants to Primera Sparks Controversy

August 30, 2023August 30, 2023 Constance

The discussion surrounding the substantial benefits accorded by the Democratic Republic of Congo’s government to “Primera,” a United Arab Emirates-based company, remains unresolved, with a written inquiry from National Deputy Alfred Maisha rekindling the conversation nearly a year later. While Alfred Maisha, a representative from Bukavu Ville in South Kivu, asserts that the DRC is losing ground in this matter, the government’s perspective diverges. They view this initiative as a promising alternative to the systemic exploitation of raw materials in the eastern part of the DRC. André Wameso, Deputy Chief… Read More Here

Gold International

Gold Discovered at Mauritania’s Tijirit Mine

August 30, 2023August 30, 2023 Constance

Canadian mining company Aya Gold & Silver has made a sizeable gold discovery at the company’s Tijirit project, located in northern Mauritania. As part of the company’s recent surveys, results of a 25,176-meter drilling campaign have reportedly confirmed a high gold content. Reverse circulation and diamond drilling were the two types of drilling methods used by the Canadian mining company, measuring depths of 22,067 meters and 3,109 meters, respectively. One of the most noteworthy findings was from drill hole T23RC155, which revealed a concentration of 10.40 grams of gold per ton (g/t)… Read More Here

Gold Battery Metals International Nickel

Sibanye-Stillwater cuts gold, nickel and PGMs production for 2023

August 30, 2023August 30, 2023 Constance

SIBANYE-Stillwater announced cuts to production guidance for gold, nickel and platinum group metals (PGMs) owing to operational mishaps, a strike, and lower metal prices. Publishing his firm’s interim results for the six months ended June 30, Sibanye-Stillwater CEO Neal Froneman said steps had been taken to “minimize” the events. “The operating environment has been … demanding, with regional factors in our operating jurisdictions posing significant challenges,” he said. New gold production guidance of 625,000 to 660,000 ounces was 16% to 17% lower than forecast at the beginning of the year following a shaft… Read More Here

Mining in DRC Artisanal mining Economy Gold

Nicolas Kazadi: DRC’s Artisanal Gold Export Tax Cut to 0.5% “Necessary”

August 30, 2023August 30, 2023 Constance

Since the close of 2022, the Democratic Republic of Congo (DRC) has witnessed a decrease in the tax rate for the export of artisanal gold, dropping from 1.5% to 0.5%. According to the arguments put forward by the Congolese Minister of Finance, Nicolas Kazadi, during the press briefing on Monday August 28, 2023, this measure was necessary in the context of non-competitive or even confiscatory taxation. “At the end of 2021, during the preparation of the 2022 budget, the Government of the Republic had taken the initiative to request that… Read More Here

Mining in DRC Economy Gold

DRC Finance Minister Nicolas Kazadi Refutes Deputy Alfred Maicha’s Allegations on Primera RDC

August 30, 2023August 30, 2023 Constance

The Minister of Finance of the Democratic Republic of Congo (DRC), Nicolas Kazadi, rejected outright the allegations of the national deputy Alfred Maicha on the Primera RDC file. Facing media professionals during the briefing organized on Monday August 28, 2023, Minister Kazadi explained that the creation of the Primera RDC joint venture is part of the high-level strategy for a dual objective: both to recover economic sovereignty , but also to fight against the mining fraud which fuels the armed conflicts in the East of the country. While refuting the… Read More Here

Gold International

Tanzania to Establish National Gold Reserve in 2023

August 28, 2023August 28, 2023 Constance

Tanzania’s decision to establish a National Gold Reserve to strengthen its local currency comes at a time when global central banks are turning to gold as a safe-haven asset. As Africa’s fourth-largest gold producer, Tanzania’s focus on retaining its gold output within the country raises questions about the significance of such a move for its economy. This Article explores the dynamics of the Tanzania gold market, the benefits and disadvantages of gold exports, and the potential impact of establishing a National Gold Reserve on Tanzania’s economy. Tanzania’s Gold Market and… Read More Here

International Gold News in Brief

Barrick Declares Q2 Dividend

August 27, 2023August 27, 2023 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has announced the declaration of a dividend of $0.10 per share for the second quarter of 2023. The dividend is consistent with the Company’s Performance Dividend Policy announced at the start of 2022. The Q2 2023 dividend will be paid on September 15, 2023 to shareholders of record at the close of business on August 31, 2023. “As a result of the continuing overall strength of our business and balance sheet, we have maintained the distribution of a robust base dividend to our shareholders, while our… Read More Here

Gold Mining in DRC Mining in Zambia

Barrick Progresses Extension of Long-Term Value Delivery Runway

August 27, 2023August 27, 2023 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) is on target to meet its gold and copper production guidance for 2023 and continues to advance major projects which will drive value delivery in the long term through organic growth, president and chief executive Mark Bristow said today. Commenting on the company’s Q2 results, Bristow said improved performances from the Carlin complex in Nevada, the Kibali gold mine in the Democratic Republic of Congo and the Lumwana copper mine in Zambia have laid a sound foundation for production in the second half of the year… Read More Here