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Category: Gold

Kibali Gold Mine Discovers Major Deposits, Expands Exploration in DRC 1 Mining in DRC Exploration Gold 

Kibali Gold Mine Discovers Major Deposits, Expands Exploration in DRC

Constance
At its 54th quarterly press conference on October 8 in Kinshasa, Kibali Gold Mines announced significant new deposit discoveries near its plant, boosting the mine’s long-term growth prospects. Mark Bristow, Barrick’s Chairman and CEO, shared that these discoveries will help maintain Kibali’s status as Africa’s largest gold mine for years to come. Bristow revealed that the newly identified “ARK” target, just 4 km from the processing plant, holds the potential for a high-grade deposit of several million ounces. This discovery, along with deeper extensions of the KCD deposit, will help… Read More Here
Ghanaians Protest Against Illegal Mining, Call for Government Action 2 International Artisanal mining Gold 

Ghanaians Protest Against Illegal Mining, Call for Government Action

Constance
Hundreds of Ghanaians took to the streets for a second consecutive day, urging the government to crack down on illegal mining in the country, which is Africa’s top gold producer. Protesters carried placards demanding action to stop illegal mining, which they blame for polluting rivers and degrading soil across Ghana. A final day of demonstrations is planned for Saturday, according to a Bloomberg report. “This is not just a crisis; it’s a fight for the soul of our nation,” said Brownson Adatsi, lead convener of the Free The Citizens Movement,… Read More Here
DRC Targets Companies Sourcing Conflict Minerals from Eastern Region 3 Mining in DRC Gold Tin 

DRC Targets Companies Sourcing Conflict Minerals from Eastern Region

Constance
The Democratic Republic of Congo (DRC) plans to intensify its crackdown on companies sourcing minerals from the conflict-ridden eastern region, where smuggling fuels one of the world’s most severe humanitarian crises. The government has already raised concerns with Apple Inc. regarding the potential connection between its sourcing of metals like tin, tantalum, and gold and the ongoing violence in the DRC. These minerals, vital to the tech industry, are reportedly being smuggled through neighboring Rwanda, according to a Bloomberg report. In April, the DRC alerted Apple to possible conflict minerals… Read More Here
Burkina Faso to Withdraw Mining Permits from Foreign Companies 4 International Gold 

Burkina Faso to Withdraw Mining Permits from Foreign Companies

Constance
Burkina Faso plans to withdraw mining permits from certain foreign companies in an effort to boost its own gold production, announced junta leader Ibrahim Traore on Saturday. However, he did not specify which permits would be canceled. “We know how to mine our gold, and I don’t understand why we should allow multinationals to come and mine it,” Traore stated in a radio address marking two years since he took power in a coup. Traore confirmed the intention to revoke mining permits but provided no further details or specifications regarding… Read More Here
Barrick-Tanzania Partnership Generates Bulk of Nation’s Mining Revenue 5 Gold International 

Barrick-Tanzania Partnership Generates Bulk of Nation’s Mining Revenue

Constance
The Twiga partnership between Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) and the Tanzanian government is contributing 51% of the government’s revenue from the extractive industry, according to the latest report of the Tanzania Extractive Industry Transparency Initiative. Twiga comprises the North Mara and Bulyanhulu gold mines. Both mines also led the industry’s safety performance, with Bulyanhulu winning this year’s Occupational Safety and Health Award and North Mara named as the best company for caring for workers with special needs by Tanzania’s Occupational Safety and Health authority. Speaking to the media and local… Read More Here
Barrick and Mali Reach Agreement to Settle Disputes 6 International Gold 

Barrick and Mali Reach Agreement to Settle Disputes

Constance
 Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) and the government of Mali have agreed to find a global resolution to the existing claims and disputes between the government and Barrick’s Loulo and Gounkoto gold mining companies. Details of the agreement, based in essence on Barrick’s original proposals, will be made public once the terms of the settlement have been finalized. Barrick president and chief executive Mark Bristow said the company’s mutually beneficial relationship with Malian governments had endured for 30 years and occasional differences with successive regimes had always been amicably resolved. “The… Read More Here
Mumbwa Identified as Key to Growing Zambia's Gold Reserves as Kabeta Cracks Down on Smuggling 7 Mining in Zambia Gold 

Mumbwa Identified as Key to Growing Zambia’s Gold Reserves as Kabeta Cracks Down on Smuggling

Constance
Mines Permanent Secretary, Barnaby Kabeta, addressed hundreds of miners in Nangoma constituency, who were impacted by the closure of Lwili Mine due to safety concerns and illegal operations. The mine was shut down two weeks ago after the Zambian National Service was deployed to restore order following a rise in fatalities and other issues. In his address, Kabeta assured the affected miners that operations at Lwili Mine would resume soon. “The Nangoma mine area will reopen on Friday. We need to know who is entering the mine, as we currently… Read More Here
Theta Gold Mines Shifts Funding Strategy for South African Gold Project 8 International Gold 

Theta Gold Mines Shifts Funding Strategy for South African Gold Project

Constance
Junior miner Theta Gold Mines has revised the funding strategy for its South African gold project, according to chairperson Bill Guy. The ASX-listed company will fully redeem its A$6-million secured bonds with 2Invest, freeing up its project interests to serve as collateral for future potential project funders. Theta plans to use funds from an $8-million private placement to facilitate the bond redemption. The company has already received $6 million from the first tranche of a $10-million, two-tranche placement with Hong Kong Ruihua Investment (HRIM), alongside a firm commitment for an… Read More Here
Barrick Gold Suspends Operations at Papua New Guinea Mine Amid Deadly Clashes 9 International Gold 

Barrick Gold Suspends Operations at Papua New Guinea Mine Amid Deadly Clashes

Constance
Barrick Gold has suspended operations at the Porgera gold mine in Papua New Guinea following violent clashes that resulted in the deaths of two employees. The company halted mining activities to ensure the safety of its workers, with operations expected to resume on Thursday, according to a statement from Barrick’s local unit. Most of the mine’s workforce comes from nearby communities. The violence, which erupted about a week ago, involved two groups of illegal miners and has claimed at least 20 lives, according to Máté Bagossy, the United Nations’ humanitarian… Read More Here
Zambia’s Chamber of Mines Warns of Investor Risks Amid Proposed Mining Reforms 10 Mining in Zambia Copper Gold 

Zambia’s Chamber of Mines Warns of Investor Risks Amid Proposed Mining Reforms

Constance
Zambia’s Chamber of Mines has raised concerns over proposed legislative and policy reforms, calling them “an unprecedented threat” to investors’ rights and warning that they could hinder the country’s goal to significantly boost copper production. The Chamber, which includes major industry players like First Quantum Minerals Ltd. and Barrick Gold Corp., opposes a draft law that would increase state control over certain minerals. It argues that these measures will undermine investor confidence and discourage future investment. In a statement issued on Tuesday, the Chamber criticized President Hakainde Hichilema’s administration for… Read More Here

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