Gold - Copperbelt Katanga Mining

DRC President Tshisekedi To Participate in Sale Of Initial Gold Shipment As Part Of UAE Economic Partnership.

January 13, 2023January 13, 2023 Constance

DRC President Felix Tshisekedi will today 13.01.2023 attend a ceremony at the City of the African Union to mark the sale of the first batch of gold in the United Arab Emirates as part of a trade and economic cooperation agreement between the two countries. The DRC and the United Arab Emirates signed a partnership contract on December 10th to combat mining fraud. This partnership resulted in the formation of two companies, Primera Gold DRC and Primera Metals DRC, which will focus on the sectors of gold, tin, tungsten, and… Read More Here

International Gold

Gold Value Decreases as Investors Wait for Information on Inflation.

January 12, 2023January 12, 2023 Constance

Gold stopped increasing in value on Wednesday 11.01.2023 as investors wait for new data on US inflation that could give clues about the Federal Reserve’s future actions. It is thought that the rate of interest hikes will slow down. Spot gold went down by 0.2% to $1,874.57 per ounce by 1:15 p.m. ET, after reaching a new eight-month high of $1,886.59 earlier in the session. However, US gold futures went up by 0.2% and were trading at $1,879.90 per ounce. Prices were… Read More Here

Gold International Mining Companies

Caledonia Completes Bilboes Gold Project Acquisition In Zimbabwe

January 9, 2023January 9, 2023 Constance

Caledonia Mining Corporation has announced that, following the satisfaction of conditions precedent, it has completed the acquisition of Bilboes Gold. Bilboes is the parent company which owns, through its Zimbabwe subsidiary, Bilboes Holdings, the Bilboes gold project in Zimbabwe. As a reminder, the total consideration payable is, subject to adjustment, 5,123,044 shares representing approximately 28.5 per cent of Caledonia’s fully diluted share capital and a 1 per cent net smelter royalty on the project’s revenues. Based on the last trading day’s closing share price on NYSE American of US$12.82 per… Read More Here

International Gold

Barrick’s Merger with Nevada Gold Mines Mission accomplished

January 7, 2023January 9, 2023 arnbethnic

The successful merger of two different sets of assets, systems, people and practices into the fully integrated Nevada Gold Mines (NGM) has been a classic case of the whole exceeding the sum of its parts, says Mark Bristow. Bristow, the chairman of NGM and president and CEO of majority-owner Barrick, says the combination of Barrick’s Nevada assets’ reserves and grades with Newmont’s infrastructure has delivered industry-leading growth and performance. In the three years since the establishment of the joint venture, it has produced 10 million ounces of gold (on a… Read More Here

Gold News in Brief

Gold Rises To 1858 USD Per Ounce

January 5, 2023January 5, 2023 Constance

Gold extended its New Year’s rally to trade near a seven-month high on Wednesday, helped by a weaker US dollar and rising expectations of less aggressive interest rate hikes by the Federal Reserve. Spot gold was up 1.0% at $1,858.97 an ounce on Wednesday 04.01.2023 midday, its highest level since mid-June. US gold futures also gained 1.0% to $1,864.20 an ounce in New York. The US dollar index, meanwhile, fell 0.4%, making bullion cheaper for overseas investors. There is some optimism in the market ahead of the release of the Fed’s… Read More Here

International Gold

In 2023, The Price Of Gold Will Partly Depend On The Evolution Of Inflation (report)

January 4, 2023January 4, 2023 Constance

One of the conclusions of the World Gold Council through its report published on December 2022 on the outlook for the market in the coming months informs that in 2023, one of the signs to be watched by the Global gold market players will be inflation again. According to the report, the decline in inflation should weaken the US dollar and benefit the yellow metal. Experts say that the successive hikes in the US Federal Reserve’s key rates have indeed helped to strengthen the US dollar and made bond yields more… Read More Here

Gold International

Kwekwe Miner CHanakira Faces Gold Ore Theft Charges-Zimbabwe

December 29, 2022December 31, 2022 Constance

Kwekwe gold dealer has been reported to police on charges of having stolen gold ore and other Mining accessories from a mine at the Centre of a boundary dispute.According to a police report case number 5393592, Chanakira Masuku is accused of stealing about 1.5kg of gold, tonnes of gold ore worth over US$30 000, two drums of cyanide and caustic soda from Somerset 16 mine in Sosombe, Kwekwe.Masuku is also accused of vandalising a perimeter fence of Somerset 16 mine owned by Mistopher Khan under registration number 24107.The mine was… Read More Here

Gold International

Gold Price Dips From Six-month Peak On Short-Term Profit Taking

December 29, 2022December 29, 2022 Constance

Gold prices eased off on Wednesday 28.12.2022 after reaching a six-month peak last session as the market booked short-term profits while seeking fresh drivers. Spot gold fell 0.6% to $1,801.21 per ounce by 11:40 a.m. ET, while three-month US gold futures declined 0.8% to trade at $1,808.80 per ounce. Bullion’s losses were capped by a drop in both Treasury yields and the dollar, which kept prices above the $1,800 an ounce level throughout the session. “You’re seeing a corrective pullback, some profit taking from… Read More Here

Gold International

Gold Price Rises To Six-month High On China Reopening Optimism

December 28, 2022December 28, 2022 Constance

Gold prices rose on Tuesday as optimism surrounding China’s decisions to further ease covid-19 restrictions weighed on the US dollar, while resilient yields cast a shadow over the precious metal’s advance. Spot gold was up 1.3% to $1,821.37 per ounce by 11:50 a.m. ET, easing off a six-month high of $1,832.35 reached earlier in the day. US gold futures gained 1.4% to trade at $1,828.90 per ounce. Meanwhile, the US dollar index edged lower, and benchmark 10-year yields held close to their… Read More Here

Mining in DRC Gold

DRC To Formalize Gold Trade

December 27, 2022December 27, 2022 Constance

Democratic Republic of Congo will implement several initiatives to increase revenue and improve financial transparency in the new year, including a plan to formalize the artisanal gold trade and amend an agriculture law to encourage foreign investment, government officials said. The copper and cobalt producer is looking to diversify its sources of income after a bumper year in mining that will result in nearly 7% economic growth. The government also plans to expand income taxes and offer tax exemptions in special economic zones, the officials said. “The goal is to… Read More Here