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Category: Gold

Stronger Q2 Puts Barrick On Track to Achieve 2023 Targets 1 Gold International 

Stronger Q2 Puts Barrick On Track to Achieve 2023 Targets

Constance
 Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) yesterday July 13th reported preliminary Q2 sales of 1.00 million ounces of gold and 101 million pounds of copper, as well as preliminary Q2 production of 1.01 million ounces of gold and 107 million pounds of copper. As previously guided, Barrick’s gold and copper production in 2023 is expected to increase through the year with the second half being higher than the first six months of 2023. The Company remains on track to achieve full year gold and copper guidance.1 The average… Read More Here
DRC's Kibali Records 9 Impressive Achievements in Q2-2023 2 Mining in DRC Gold 

DRC’s Kibali Records 9 Impressive Achievements in Q2-2023

Constance
Mining company Kibali regularly reports on its achievements after each quarter. During a press conference held on July 5, 2023, Mark Bristow, Chairman of the Board of Directors of Kibali, spoke about the achievements of this mining giant specializing in the exploitation in the second quarter of the year 2023. Here are Kibali Gold Mines Top 9 Achievements in Q2-2023: 1° Kibali is on track to meet year-end production targets; 2° 16 white rhinos successfully reintroduced in Garamba National Park; 3° 16 MW solar power plant project on track: site… Read More Here
Over $15 million lost over closure of Kasenseli gold mine 3 Mining in Zambia Economy Gold 

Over $15 million lost over closure of Kasenseli gold mine

Constance
Zambia is losing over $10 million per annum in forex due to lost production hours and revenues following the indefinite closure of the Kasenseli gold mine in Mwinilunga, North Western Province. Revelations indicate that during the first full year of the mine’s operation (from approximately June 2020 to October 2021), it produced a total of about 143 kilograms of gold worth over $10 million. However, it has been over 18 months since the government suspended operations at the gold mine, and no definite decision regarding its reopening or the way… Read More Here
Twiga Transforms Tanzanian Mining, Sets Standard for Industry 4 International Gold Partnership 

Twiga Transforms Tanzanian Mining, Sets Standard for Industry

Constance
Twiga Minerals, the joint venture between the Tanzanian government and Barrick Gold Corporation, has revitalized the country’s gold mining industry through a partnership that should serve as a model for similar operations, particularly in developing regions, Barrick president and chief executive Mark Bristow said yesterday July 10th. Briefing media at a mine visit, Bristow said in 2019 when Barrick took control over North Mara and Bulyanhulu — the mines that now form the Twiga complex — both were rundown and at a virtual standstill due to a deadlocked dispute between… Read More Here
Successful Exploration Continues to Extend Tongon’s Life of Mine 5 Gold Exploration International 

Successful Exploration Continues to Extend Tongon’s Life of Mine

Constance
Originally scheduled for closure in 2020, the life of Barrick’s Tongon gold mine continues to be extended through successful exploration campaigns. Speaking at a media briefing on Wednesday July 5th general manager Hilaire Diarra said that since Tongon poured its first gold in 2010, the mine has contributed $2.2 billion to the Ivorian economy in the form of taxes, infrastructure development, salaries and payments to local suppliers. “Extending its life will help ensure that Tongon is still able to share the value it creates with all its Ivorian stakeholders continuing… Read More Here
Great Future Beckons for Lumwana as Barrick Unlocks Potential 6 Mining in Zambia Copper Gold 

Great Future Beckons for Lumwana as Barrick Unlocks Potential

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – Barrick’s drive to transform the Lumwana copper mine into a Tier One1 asset with a life extending beyond 2060 is picking up speed with a strong performance in the past quarter adding impetus to its continuing production ramp-up. Briefing media at a site visit here today July 7th, Barrick president and chief executive Mark Bristow said the mine’s full potential was only now being revealed. Additional expansion opportunities, identified through an updated geological model, are currently being assessed, while drilling at the Kababisa prospect highlights potential… Read More Here
Kibali Set to Roll Out New 10-Year Plan on Back of Production Ramp-Up and Reserve Replacement 7 Mining in DRC Gold Hydro power plant 

Kibali Set to Roll Out New 10-Year Plan on Back of Production Ramp-Up and Reserve Replacement

Constance
Africa’s biggest gold mine, Kibali, stepped up production significantly in the past quarter as part of its planned ramp-up and is well on track to achieve its annual guidance. At the same time, successful exploration is expected to more than replace reserves depleted by mining again this year. Briefing media on Wednesday July 5th, Barrick president and chief executive Mark Bristow said the 10-year-old mine was now rolling out its business plan for the next decade, securing its status as one of the company’s elite portfolio of Tier One mines… Read More Here
Kavango signs option over gold project in Zimbabwe 8 Gold International 

Kavango signs option over gold project in Zimbabwe

Constance
Kavango Resources, a UK-based mining company focused on South Africa, has entered an exclusive two-year option to acquire Nara, a gold exploration project in Matabeleland, Zimbabwe. The Nara project includes 45 contiguous gold claims. According to the company, the project has the potential to host a bulk mineable gold deposit. Each of the gold claims is claimed to be at least ten hectares in size. The area of the project has supported historic high-grade underground mining and continuous surface mining on small-scale and custom milling over a 30-year period. It has… Read More Here
Local First Policy Drives Barrick’s Procurement Practices 9 Mining in Zambia Copper Economy Gold Taxes 

Local First Policy Drives Barrick’s Procurement Practices

Constance
The Lumwana copper mine has purchased approximately $4.3 billion in goods and services from Zambian registered businesses since it went into production, in line with Barrick Gold Corporation’s (NYSE:GOLD)(TSX:ABX) local procurement and economic development practices. President and chief executive Mark Bristow said Lumwana’s local procurement expenditure in 2022 was $432 million, out of a total of $520 million, which represents 83% of the mine’s total procurement spend. Since 2019, when Barrick was reconstituted following its merger with Randgold Resources, local expenditure has increased year on year. Additionally, all Lumwana’s copper… Read More Here
Kavango signs option over gold project in Zimbabwe 10 Gold International 

Kavango signs option over gold project in Zimbabwe

Constance
Kavango Resources, a UK-based mining company focused on South Africa, has entered an exclusive two-year option to acquire Nara, a gold exploration project in Matabeleland, Zimbabwe. The Nara project includes 45 contiguous gold claims. According to the company, the project has the potential to host a bulk mineable gold deposit. Each of the gold claims is claimed to be at least ten hectares in size. The area of the project has supported historic high-grade underground mining and continuous surface mining on small-scale and custom milling over a 30-year period. It has… Read More Here

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