Gold - Copperbelt Katanga Mining

Zambia’s Govt Launches Gold Mining Marketing Center in Lusangazi

May 16, 2023May 16, 2023 Constance

Government to set up a gold mining marketing center in Lusangazi district of the Eastern Province to provide local people with easy access to the market for the mineral. The gold marketing center will be established at a central location within the district. It will be responsible for the purchase and sale of gold extracted in Lusangazi. Ministry of Mines and Minerals Development Senior Planner, Angela Zulu , stated that plans are underway to set up additional gold marketing centers in other districts where gold mining activities are taking place. Ms.… Read More Here

Angola Inaugurates Buco Zau Gold Project

May 14, 2023May 14, 2023 Constance

Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, has officially inaugurated the Buco Zau gold project, located in the Cabinda province in Northern Angola. With an installed washing capacity of 150 tons per hour, the project was developed by Angolan mining company Mineração Buco Zau, and is expected to play an instrumental part in supporting the Ministry’s diversification efforts. Speaking during the inauguration ceremony last week, Azevedo reiterated the role gold continues to play in the country, and that the Buco Zau project will likely be used as… Read More Here

Copper Exploration Gold International New Mining Projects

First stone laid in Angola to commence the Tetelo Mine project

May 14, 2023May 14, 2023 Constance

Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Pedro Azevedo, officially laid the first stone for the construction of the Tetelo mine, for copper and gold exploration, in the town of Mavoio, municipality of Maquela do Zombo, in Uíge province on Thursday. The mine will be constructed in an area of 4 square kilometers over a period of 27 months, with a total cost of 205 million US dollars to the State. The first phase of production is expected to begin by the end of next year, with an… Read More Here

Mining in DRC Gold

DRC’s Minister of Mines Vows to Combat Fraud in the Gold Sector

May 11, 2023May 11, 2023 Constance

The Minister of Mines Antoinette N’samba Kalambayi is committed to fighting against mining fraud mainly in the gold sector in the Democratic Republic of Congo. While several sources report the link between the illegal exploitation of mining resources in the DRC and the activities of armed groups acting on behalf of certain neighboring countries, members of the International Conference on the Great Lakes Region CIRGL including Rwanda is indexed as the main instigator. The boss of the DRC’s mines said in a statement that mining fraud deprives the country of… Read More Here

Gold International

New Ontario gold mine nearing completion but sourcing workers a challenge

May 9, 2023May 9, 2023 Constance

After years of planning and development, the end is in sight for the Magino gold project, which Toronto-listed Argonaut Gold is building near Dubreuilville, Ontario. The first gold pour at the mine is only weeks away and commercial production is targeted for the third quarter. “Major components critical to commissioning Magino’s mill are coming together as we prepare for first gold pour, which is now expected during the second half of May, which is marginally behind the May 15 target date,” said COO Marc Leduc on Friday 5th may. By March 31, Argonaut had incurred about $652-million of the $755-million (C$980-million) estimate at completion. Leduc… Read More Here

Gold International

From World-Class Asset Base, Barrick Hunts New Opportunities

May 4, 2023May 4, 2023 Constance

The completion of major processing plant maintenance at Nevada Gold Mines, the conversion of the Goldstrike autoclave to a carbon-in-leach process, a much-improved performance from Turquoise Ridge and the steady ramp-up of throughput at Pueblo Viejo’s expanded plant will boost production in the second half of the year and keep Barrick on track to achieve its 2023 guidance, the company said today. Reporting on the results for the first quarter, president and chief executive Mark Bristow said production, while lower than Q4 2022, was on plan, and free cash flow1 had… Read More Here

Gold International

Uganda’s gold industry loses $160M due to tax dispute

May 3, 2023May 3, 2023 Constance

According to a report by the Ugandan Parliamentary Committee on Finance, Planning, and Economic Development, Uganda has lost out on Ush600 billion ($160.77 million) in uncollected tax from the export of gold goods since July 2021 because of a dispute with exporters and refiners over levies. Ruth Nankabirwa, Uganda’s Minister for Energy and Mineral Development, however, blamed the loss on a dispute between the Uganda Revenue Authority and more than 20 gold exporters and refiners in her response to the report to the House on Tuesday 2nd May. “From the… Read More Here

International Gold

The price of Gold continues to fall below the bar of 2000 USD per ounce

April 26, 2023April 26, 2023 Constance

Gold continued to slide on Tuesday 25th April as a stronger dollar countered support from lower Treasury yields, as investors await a slew of U.S. economic data due later this week that could sway the stance. Federal Reserve on interest rates. Spot gold fell 0.2% to $1,985.90 an ounce on Tuesday, after falling below the key $2,000 level late last week. US gold futures fell 0.1% to $1,997.40 an ounce. Meanwhile, the dollar rose 0.4% to make bullion relatively more expensive for buyers holding other currencies, while benchmark 10-year Treasury yields… Read More Here

Gold Copper International

Barrick On Track to Achieve 2023 Targets

April 18, 2023April 18, 2023 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) on Thursday 13th April reported preliminary Q1 sales of 0.95 million ounces of gold and 89 million pounds of copper, as well as preliminary Q1 production of 0.95 million ounces of gold and 88 million pounds of copper. As previously guided, Barrick’s gold production in 2023 is expected to increase through the year with the first quarter being the lowest, while copper production is expected to be higher in the second half of the year. We remain on track to achieve our… Read More Here

Mining in Zambia Copper Gold

NFC Africa Mine’s Copper and Gold Production Rises Annually in Zambia

April 14, 2023April 17, 2023 Constance

Non-Ferrous China Africa (NFCA), a subsidiary of China Nonferrous Metals Corporation (CNMC), has reported an annual increase in copper and gold production at its Chambishi-based mine in the Kalulushi district of Zambia’s Copperbelt Province. Copper production rose by more than 5,000 tons from 62,300 tons in 2021 to 67,600 tons in 2022, generating approximately $608 million at an average copper price of $9,000 per ton. This marks the mine’s second consecutive year of increased production, with copper production up by 18,675 tons compared to 48,900 tons in 2020. According to… Read More Here