Gold - Copperbelt Katanga Mining

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

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

Mining in DRC Cobalt Gold Mining Policy

DRC MP Alfred Maisha Raises Concerns Over Primera Gold Deal

August 25, 2023August 25, 2023 Constance

The exorbitant advantages granted by the Democratic Republic of Congo’s government to “Primera,” a United Arab Emirates mining company, continue to stir reactions within the Congolese socio-political sphere nearly a year after the agreement’s signing. In response, National Deputy Alfred Maisha has submitted a written inquiry to the National Assembly, addressing three government members: Adèle Kayinda, Minister of State for the Portfolio; Antoinette N’Samba, Minister of Mines; and Nicolas Kazadi, Minister of Finance. Maisha, representing Bukavu, finds the advantages and monopoly granted to Primera unacceptable, as they undermine Congolese companies’… Read More Here

International Gold Mining revenue

Thor Explorations reports good interim revenue, earnings performance

August 25, 2023August 25, 2023 Constance

Gold miner Thor Explorations saw good developments across its Segilola gold mine, in Nigeria, and its mineral exploration properties located in Nigeria, Senegal and Burkina Faso for the three and six months to June 30, president and CEO Segun Lawson says. “Operations are performing well, with the processing plant still operating above nameplate design. The company posted strong revenues for half one of $81-million, with earnings before interest, taxes, depreciation and amortisation (Ebitda) of $35.1-million and a net profit of $12-million for the same period,” he points out. Gold production for the period totalled 23 078 oz. All main… Read More Here

Gold International

Perseus Mining posts 6.0% increase in African gold reserves

August 25, 2023August 25, 2023 Constance

Perseus Mining Ltd. , an Australian company with a focus on Africa, has released an update on estimated mineral resources and ore reserves at its operations. The company currently operates three gold mines in Africa. They include the Edikan in Ghana, as well as the Sissingue and Yaoure mines in Cote d’Ivoire. It also owns the Meyas Sand Gold Project in Sudan, where employees were recently withdrawn following an outbreak of armed conflict. In a recent presentation, the company said 2023 financial year production was 535,281 ounces at an all-in-sustaining… Read More Here

Mining in DRC Gold Mining safety Safety & Health

DRC: Fatal Landslide Claims Lives in Gold Mining Pit in South Kivu

August 23, 2023August 23, 2023 Constance

Three people have lost their lives and two others have been severely injured in a landslide that occurred on Sunday, August 20th, in a gold mining pit in Kibe, Mwenga territory in South Kivu province. According to a civil society representative, the injured individuals have been transported to a hospital. “The victims were caught by a landslide while they were working in a gold mine pit. Alerted, the youth from Kibe came to the rescue and managed to save two severely injured people who were taken to the Kibe health… Read More Here

Mining in Zambia Gold Mining safety Safety & Health

Zambia Govt Urges Mining Firms to Comply with New Environmental Regulations

August 23, 2023August 23, 2023 Constance

Zambia’s commitment to a greener future and environmental protection is now more apparent than ever, as the government urges mining companies to acquaint themselves with the forthcoming Environmental Protection Act. This proactive step is aimed at preventing any potential conflicts with the law once the act is implemented. Addressing the importance of the amended act, Collins Nzovu, the Minister of Green Economy and Environment, emphasized that the revised legislation holds significant repercussions for those found disregarding its provisions. Nzovu highlighted that while the government is enthusiastic about welcoming investments into… Read More Here

International Gold

Anglogold Ashanti shareholders approve South Africa exit

August 20, 2023August 20, 2023 Constance

Anglogold Ashanti shareholders on Friday voted in favour of the miner’s plans to switch its primary listing from Johannesburg to New York, the company announced, clearing the way for its exit from South Africa. More than 98% of Anglogold shareholders approved the switch, exceeding the required majority of at least 75% at a virtual meeting held on Friday, the company said in a statement. The proposed reorganization also includes the relocation of Anglogold’s headquarters to London from Johannesburg. AngloGold, the forerunner of which was founded by industrialist Ernest Oppenheimer a… Read More Here

International Gold

Sibanye-Stillwater’s Earnings Dip Due to PGMs Price Drop and Reduced US Output

August 18, 2023August 18, 2023 Constance

South Africa-based platinum group metals (PGMs) and gold miner Sibanye-Stillwater expects its headline earnings for the first six months of the year to fall by up to 53%, compared with the same period last year. The company, which is the world’s biggest primary producer of platinum, the second biggest primary producer of palladium and the third largest producer of gold, expects its headline earnings a share to be between 198c and 218c, compared with 423c in the first half of 2022. This represents a decline of 48% to 53%. Earnings… Read More Here