Gold - Copperbelt Katanga Mining

ZNS Officers Dismissed for Engaging in Illegal Mining at Kasenseli Gold Mine 1

Three Zambia National Service (ZNS) officers who were assigned to guard Kasenseli gold mine in Mwinilunga, North-Western Province, have been dismissed from their duties after being found engaged in illegal mining activities. ZNS Commander Maliti Solochi emphasized that any officer found to be involved in illegal gold mining activities at Kasenseli will be dismissed from the service, without any exceptions. Solochi stated that the gold in Mwinilunga is a national resource and it is the responsibility of ZNS to ensure its protection. He added that the ZNS is committed to… Read More Here

Gold Mining in DRC

Primera Gold Exported 207 kilos of artisanal gold in 45 Days

February 24, 2023February 24, 2023 Constance

The Primera Gold company captured, in forty-five days, a total volume of 207 kg of gold from artisanal mining in the province of South Kivu. For the Congolese Minister of Finance, Nicolas Kazadi, this result constitutes a record in view of the data of previous years, i.e. 23 kg in 2021; 34 Kg in 2022; and 207K in 2023. Primera Gold, a joint venture between the United Arab Emirates (55%) and the Democratic Republic of Congo (45%), exported, in early January 2023, its first batch of 28 kg of gold from artisanal… Read More Here

Gold International

Barrick eyes Nevada Gold Mines as Newmont ramps up deal pressure

February 17, 2023February 17, 2023 Constance

Canada’s Barrick Gold Corp would be open to taking over Newmont’s stake in its Nevada Gold Mines joint venture, CEO Mark Bristow said on Wednesday, after Newmont’s $16.9 billion bid for Newcrest ramped up pressure on gold miners to do deals. Bristow though distanced himself from rival Newmont’s M&A push on Wednesday and highlighted Barrick’s plan to grow through exploration rather than acquisitions. Shares of Barrick Gold were trading 4% down at the Toronto Stock Exchange. “We can’t see much strategic benefit in just getting big for bigness sake, and we don’t… Read More Here

Gold International

Barrick Maintains Industry Lead With Increased Reserves and Resources Driving Growth

February 17, 2023February 17, 2023 Constance

Barrick’s strategy of investing in organic growth through exploration and mineral resource management more than replaced gold reserves for the second straight year and significantly increased copper resources year on year, providing further support for both the company’s 10-year production forecast and its growth profile. Announcing Barrick’s results for the 2022 year and Q4, president and chief executive Mark Bristow said the company had always believed that discovering ounces was better than buying them at a premium in a sector where reserves and resources were diminishing. “Our continued success in… Read More Here

Gold International

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

February 15, 2023February 15, 2023 Constance

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