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Category: Gold

Gold Climbs this week to 58.89 USD per Gram 1 Gold Mining in DRC 

Gold Climbs this week to 58.89 USD per Gram

Constance
The general trend of mining products exported from the Democratic Republic of Congo (DRC) is downward for the period from March 6 to 11, 2023 on the international market. According to the projections of the experts of the National Commission of Mercuriales of the Ministry of Foreign Trade, gold and tantalum are the two Congolese products which should register a price increase this week. During this period, gold is expected to trade at $58.89 per gram versus $56.16 per gram last week, a positive price difference of around $2.73. For… Read More Here
The Price of Gold Climbs to 1846 USD per Ounce 2 Gold International 

The Price of Gold Climbs to 1846 USD per Ounce

Constance
Gold prices rebounded again on Friday 3rd March and are heading for their first weekly rise in five as a decline in the US dollar and Treasury yields eased fears of further rate hikes from the Federal Reserve. Spot gold rose 0.6% to $1,846.66 an ounce by midday, its highest level in two weeks. US gold futures rose 0.7% to $1,853.70 an ounce in New York. Until a new catalyst is found, such as next week’s jobs or consumer price data, gold is likely to remain in a range between $1,830… Read More Here
ZNS Officers Dismissed for Engaging in Illegal Mining at Kasenseli Gold Mine 3 Mining in Zambia Gold 

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

Constance
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
Primera Gold Exported 207 kilos of artisanal gold in 45 Days 4 Gold Mining in DRC 

Primera Gold Exported 207 kilos of artisanal gold in 45 Days

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
Barrick eyes Nevada Gold Mines as Newmont ramps up deal pressure 5 Gold International 

Barrick eyes Nevada Gold Mines as Newmont ramps up deal pressure

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
Barrick Maintains Industry Lead With Increased Reserves and Resources Driving Growth 6 Gold International 

Barrick Maintains Industry Lead With Increased Reserves and Resources Driving Growth

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
Barrick CEO Warns of Ongoing Inflation Impact on Results Due to Higher Costs 7 Gold International 

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

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
Report Shows 6.12% Drop in Raw Gold Production in DRC for 2022 8 Gold Mining in DRC 

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

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
DRC exported 28,264 Kg of Gold in 2022 for a value of 1.1 billion USD 9 Gold Mining in DRC 

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

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
Cobalt, zinc, tin and Gold prices up this Week 10 Mining in DRC Battery Metals Copper Gold 

Cobalt, zinc, tin and Gold prices up this Week

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

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