You are here

Category: Gold

DRC: here are the five provinces that produced more than 75% of artisanal gold in the first half of 2022 1 Gold Mining in DRC 

DRC: here are the five provinces that produced more than 75% of artisanal gold in the first half of 2022

admin
In the first half of 2022, five (5) provinces of the Democratic Republic of Congo (DRC) stood out from the twenty-one (21) others in the production of artisanal gold. According to official statistical data provided by the Technical Unit for Coordination and Mining Planning (CTCPM), these five provinces alone produced more than 75% of total gold production in the artisanal sector of the Democratic Republic of Congo during the period under review. These include the province of Bas-Uélé, which has a production of 28.70 kg of gold, or 29.61% of national… Read More Here
Gold price retreats on Powell’s remarks at Jackson Hole meeting 2 Gold International 

Gold price retreats on Powell’s remarks at Jackson Hole meeting

admin
Gold declined again on Friday in the wake of Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole economic symposium in Wyoming, where he warned against any idea that the US central bank would start loosening monetary policy soon. Spot gold fell 1.2% to $1,736.93 per ounce by noon ET, erasing its gains for the week. US gold futures were down 1.3% to $1,749.10 per ounce in New York. Gold’s decline comes after Powell signalled that the US central bank will likely keep raising interest rates and leave them elevated for… Read More Here
Artisanal gold mining at the center of exchanges between Godard Motemona and the provincial ministers of South Kivu, Maniema and the USAID representative 3 Artisanal mining Gold Mining in DRC 

Artisanal gold mining at the center of exchanges between Godard Motemona and the provincial ministers of South Kivu, Maniema and the USAID representative

admin
The city of Kinshasa hosted, on August 24 to 25, 2022, a seminar with the aim of taking stock and evaluating the behavior of the Artisanal Gold Traceability Initiative (ITOA) since its launch. . It is in this context that the Deputy Minister of Mines, Godard Motemona received in audience the same Thursday evening, a sample of actors who took part in these meetings.  During these exchanges, the hosts made the restitution of the resolutions resulting from these days of reflection to the Vice-Minister. Facing the press, the Provincial Minister of… Read More Here
DRC total gold production in the 1st half of 2022 amounts to 13,107.33 kg, a decrease in quantity of 13.69% compared to 2021 4 Gold Mining in DRC 

DRC total gold production in the 1st half of 2022 amounts to 13,107.33 kg, a decrease in quantity of 13.69% compared to 2021

admin
Total gold production in the DRC amounts to 13,107.33 kg of gold in the first half of 2022 against 15,185.83 kg in the first half of 2021. This shows a drop of 2,078.49 kg, i.e. 13 .69%, according to statistical data published by the Technical Unit for Coordination and Mining Planning (CTCPM), an advisory, study and coordination body for mining activities in the DRC. The CTCPM reports that gold production is still predominated by industrial mining based mainly in the Haut-Uélé Province, while that of artisanal mining is scattered in… Read More Here
Gold at three-week low as Fed officials reiterate hawkishness 5 Gold International 

Gold at three-week low as Fed officials reiterate hawkishness

admin
Gold traded at the lowest level in more than three weeks as Federal Reserve officials reiterated their commitment to tighter monetary settings to curb inflation. Bullion capped its first weekly decline in five as traders weighed hawkish comments by policy makers which portended higher interest rates. Fed Bank of Richmond President Thomas Barkin said Friday the central bank was resolved to returning inflation to its 2% target, even if that meant risking a US recession. All eyes will be on Chair Jerome Powell when he speaks this Friday at the annual gathering of central bankers at Jackson… Read More Here
Gold price heads for weekly drop as Fed officials reiterate rate hikes 6 Gold International 

Gold price heads for weekly drop as Fed officials reiterate rate hikes

admin
Gold is headed for the first weekly decline in five as traders weighed reiteration from Federal Reserve officials that they’re determined to hike interest rates to fight inflation. Policy makers offered divergent views on the size of the next interest-rate increase, but they agreed on the need to keep raising interest rates. St. Louis’s James Bullard urged another 75 basis-point move while Kansas City’s Esther George struck a more cautious tone. Richmond’s Thomas Barkin echoed that resolve on Friday, noting the risk those efforts could cause a recession. Bullion dropped… Read More Here
Zimbabwe offers target-beating incentive for biggest gold miners 7 Gold 

Zimbabwe offers target-beating incentive for biggest gold miners

admin
Zimbabwe extended an incentive for the country’s biggest gold miners to produce above state-set output targets. Large producers that exceed their goals will receive 80% of the payment for the additional output in foreign currency, Deputy Mines Minister Polite Kambamura said in an interview. That compares with the existing 60-40 split between foreign and local currency payments for gold produced in the southern African country. “Overall, it’s a good policy,” said Isaac Kwesu, chief executive officer of the Chamber of Mines. “But for those that are already operating at full… Read More Here
Gold price drops with China slowdown, Fed minutes in focus 8 Gold International 

Gold price drops with China slowdown, Fed minutes in focus

admin
On Monday, China’s central bank unexpectedly cut its key interest rate as it ramped up support for an economy handicapped by virus lockdowns and a deepening property crisis. Economic data showed the country’s recovery is ebbing, potentially crimping physical demand for gold in the world’s largest consumer. Despite coming off a fourth weekly gain, bullion has now come under pressure from a stronger US dollar amid concerns over further rate hikes by the US Federal Reserve. The dollar index edged higher Monday, making gold and other commodities more expensive for overseas buyers. Treasury… Read More Here
Gold bounces above $1 800 after US inflation data 9 Gold International 

Gold bounces above $1 800 after US inflation data

admin
Gold prices charged higher and broke above the key $1,800 level on Wednesday after relatively tame US inflation readings prompted bets that the Federal Reserve may not opt for aggressive rate hikes. Spot gold rose 0.6% to $1 804.20 per ounce by 1249 GMT (8:49 ET). US gold futures jumped 0.6% to $1 822.30. US consumer prices did not rise in July, due to a sharp drop in the cost of gasoline, delivering the first notable sign of relief for Americans who have watched inflation climb over the past two… Read More Here
Barrick Gold tweaks cost guidance as copper boosts second-quarter earnings 10 Gold Copper Mining Companies 

Barrick Gold tweaks cost guidance as copper boosts second-quarter earnings

admin
Barrick Gold Corp flagged on Monday that it might overshoot its gold production cost forecast this year, though it stopped short of hiking its cost guidance, with CEO Mark Bristow saying the path of inflation was uncertain. Barrick beat analysts’ expectations with a nearly 19% rise in second-quarter profit thanks to higher copper output even as inflation drove production costs up for the world’s second-biggest gold miner. Its shares rose 2% at the open in Toronto. The company now expects to be “either at the top end or slightly above”… Read More Here

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Copperbelt Katanga Mining will use the information you provide on this form to be in touch with you and to provide updates and marketing.