Gold - Copperbelt Katanga Mining

Barrick CEO Warns of Ongoing Inflation Impact on Results Due to Higher Costs 1

Barrick Gold Corp.’s CEO, Mark Bristow, believes that inflation will continue to be a challenge for the mining industry. Despite expectations that inflation could start to ease as central banks increase borrowing costs, Bristow doesn’t see a significant change in the situation. During an interview , Bristow highlighted that “no one’s doing anything to kill inflation” and that “it’s definitely not over.” In 2022, Barrick’s earnings were affected by higher inflation, lower production, and “challenges” at the Turquoise Ridge mine in Nevada. Fourth-quarter results missed guidance on costs, causing Barrick’s… Read More Here

Gold Mining in DRC

Report Shows 6.12% Drop in Raw Gold Production in DRC for 2022

February 14, 2023February 14, 2023 Constance

The production of raw gold in the Democratic Republic of Congo (DRC) fell by around 1,922.97 kg, representing 6.12% of total annual production. This is what emerges from the statistical data published by the Congolese Ministry of Mines. According to the same source, the total production of raw gold in 2022 is 29,498.09 Kg against 31,421.05 Kg in 2021. During this period, industrial gold miners dominated the market with an estimated volume of 28,492.68 Kg of gold against 1,005 Kg of gold from artisanal mining. The Ministry of Mines specifies… Read More Here

Gold Mining in DRC

DRC exported 28,264 Kg of Gold in 2022 for a value of 1.1 billion USD

February 9, 2023February 9, 2023 Constance

The Democratic Republic of Congo exported in 2022 a volume of 28,264 kg of gold for a value of 1 billion 102.4 million USD, according to statistics from the Ministry of Mines. In the gold mining sector in the DRC, Kibali has a virtual monopoly and remains the largest producer and exporter of industrial gold in the country. In 2022, Kibali Gold Mines exported 28,216 Kg of gold against 47 Kg for MCCR. Read More Here

Mining in DRC Battery Metals Copper Gold

Cobalt, zinc, tin and Gold prices up this Week

February 8, 2023February 8, 2023 Constance

The main mining products exported from the Democratic Republic of Congo (DRC), in particular cobalt, zinc, tin and gold, should register a slight price increase on the international market for the period from February 6 to 11, 2023. C This is what the National Commission for Mercurial Prices of the Ministry of Foreign Trade indicates in its weekly report on the evolution of the prices of mining and agricultural products and forest menus in the Democratic Republic of Congo (DRC). According to this structure, cobalt should be trading this week… Read More Here

Gold Mining in DRC News in Brief

Raw Gold Production in DRC Declines by 4,111 kg in 2022 Compared to 2021

February 3, 2023February 3, 2023 Constance

The production of raw gold fell significantly during the year 2022 in the Democratic Republic of Congo (DRC). According to statistical data published by the Central Bank of Congo (BCC), the production of raw gold during the period mentioned is around 27,798 kg. This production amounted to 31,903 Kg of raw gold during the year 2021. This represents a drop of around 4,111 during the year 2022. It should be noted that the source did not specify the volume of production achieved by the industrial sector, let alone that achieved… Read More Here

Gold International

Gold Demand Reaches Decade-High in 2022 Annual Report

February 1, 2023February 1, 2023 Constance

The World Gold Council’s latest Gold Demand Trends report reveals that annual gold demand (excluding OTC) in 2022 increased by 18% year-on-year, hitting 4,741t – the highest annual total since 2011. Boosted by a record fourth quarter, demand for gold was propelled by hefty centralbank-buying and persistently strong retail investment. Annual central bank demand more than doubled to 1,136 t in 2022, up from 450 t the year before and to a new 55-year record high. Purchases in Q4 2022 alone reached 417 t, bringing the total for the second… Read More Here

Gold Mining in DRC

Barrick secures Kibali’s +10-year plan

February 1, 2023February 1, 2023 Constance

Barrick Gold Corporation – Africa’s largest gold mine, Kibali, is again on track to replace its reserves beyond the ounces depleted by mining in the previous year, while new growth opportunities will also support its +10-year business plan and its status as one of Barrick’s Tier One assets. Barrick president and chief executive Mark Bristow says that Kibali’s prolific KCD orebody was continuing to deliver additional value with current drilling focused on converting resources into reserves and exploring the lodes which are still open down plunge. In addition, the Mengu… Read More Here

Gold Mining in DRC Taxes

DRC Kibali Gold Mine Paid USD 1.2 Billion in Various Taxes and Royalties in 2022

January 31, 2023January 31, 2023 Constance

2022 has been a very positive year with strong quarter-on-quarter results for Kibali Gold Mine, one of the largest gold mines in Africa. During this year, the investment of Kibali Gold Mine in the Democratic Republic of Congo (DRC) exceeded the bar of 4.4 billion USD. And 1.2 billion USD was paid for various taxes and fees. This was announced by Mark Bristow, Chairman and CEO of Barrick Gold, during the 47th press conference held on Monday, January 30, 2023, in Kinshasa. According to him, nearly 2.4 billion USD was used to… Read More Here

Gold International

Barrick’s Loulo-Gounkoto Complex Continues to Deliver Value

January 31, 2023January 31, 2023 Constance

Seventeen years after it went into production, Barrick’s Loulo-Gounkoto mining complex in Mali continues to demonstrate its value as a key socio-economic partner to the country. In 2022 it maintained its historically consistent performance by meeting its production guidance and solidified its long-term outlook and is expected to replace its mined ounces for the fourth successive year. The initial development of a third underground mine at Gounkoto was commissioned and is on track to start ore production from stopping in the second quarter of this year. Key geological structures within… Read More Here

Mining in DRC Gold

Reserve Replacement and New Opportunities Secure Kibali’s +10-Year Plan

January 30, 2023January 30, 2023 Copperbelt Katanga News

Kibali is a highly cost-efficient operation with its three world-class hydropower stations supplying much of its energy requirements. KINSHASA, DEMOCRATIC REPUBLIC OF CONGO – Africa’s largest gold mine, Kibali, is again on track to replace its reserves beyond the ounces depleted by mining in the previous year, while new growth opportunities will also support its +10-year business plan and its status as one of Barrick’s Tier One1 assets. Barrick president and chief executive Mark Bristow told media here today that Kibali’s prolific KCD orebody was continuing to deliver additional value with current drilling… Read More Here