Gold - Copperbelt Katanga Mining

Gold demand hits highest level in more than two years

January 28, 2022January 28, 2022 admin

Market development organisation the World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’ report shows that yearly demand, excluding over-the-counter markets, has recovered many of the Covid-19-induced losses from 2020 to reach 4 021 t for the 2021 full-year. Demand for gold reached 1 147 t in the fourth quarter of 2021 – its highest quarterly level since the second quarter of 2019. It is also an increase of almost 50% year-on-year. Gold bar and coin demand rose 31% to an 8-year high of 1,180 t as retail investors sought a haven against the backdrop of rising inflation… Read More Here

Mining in DRC Gold

DRC: more than 5.4 billion USD generated by the production and export of Gold between 2015 and 2019

January 28, 2022January 28, 2022 admin

The production and export of gold from the Democratic Republic of Congo (DRC) generated revenues of around 5,492,424,428.13 billion US dollars, according to the statistical data contained in the sector directory of the Democratic Republic of Congo, 2020 edition. According to this report, during the period under analysis, gold production amounted to 164,656.3 kilograms. Of the 164,656.3 kilograms of gold produced on Congolese soil, nearly 162,765.94 kilograms were exported to the international market for this mining product. Evolution of production and exports recorded between 2015 and 2019 In 2015, the… Read More Here

International Gold

Gold price holds 2-month high ahead of Fed announcement

January 27, 2022January 27, 2022 admin

Gold prices retreated but still held near a two-month high on Wednesday, as investors await the outcome of a US Federal Reserve meeting that may offer more clues on the outlook for monetary policy tightening. Spot gold declined 0.8% to $1,833.15/oz by noon EDT, its highest since mid-November. US gold futures fell 1.0%, trading at $1,832.70/oz in New York. Later in the day, Fed chair Jerome Powell and his fellow policymakers are expected to signal their first interest-rate hike since 2018, setting the stage for a March move to cool inflation. The Federal… Read More Here

Gold Mining Companies

Barrick Gold mines in Tanzania reach Tier One status

January 26, 2022January 26, 2022 admin

Barrick Gold said on Tuesday it had succeeded in taking its North Mara and Bulyanhulu gold mines in Tanzania from “moribund” to Tier One assets. Barrick, which took over the operations after re-acquiring Acacia Mining in September 2019, said they delivered a combined production of more than 500,000 ounces last year, which qualifies them as Tier One mines. To be considered in the top category, assets must have a reserve potential to deliver a minimum 10-year life, annual production of at least 500,000 ounces of gold and total cash costs per ounce over… Read More Here

Aluminium Cobalt Copper Gold Iron Tin

Chart: How metals prices performed in 2021

January 25, 2022January 25, 2022 admin

How Metals Prices Performed in 2021 Looking back on what gave investors strong returns in 2021, it was the year of industrial and energy metals. As demand for industrial goods surged, so too did their material metals. But unlike energy prices which rose across the board last year, not all metals managed positive returns. This infographic looks at the year-over-year return on metals prices from January 1 to December 31 of 2021, using pricing data tracked by Tradingeconomics.com. Inflation and Raw Material Demand Spur Industrial Metals Last year saw inflation hit 30-year highs… Read More Here

Gold International

Gold nears two-month high as Russia-Ukraine tensions simmer

January 24, 2022January 24, 2022 admin

Gold prices advanced towards last week’s two-month high on Monday as US bond yields continued to fall and investors looked to invest in the safe-haven metal over concerns about tensions between Russia and Ukraine. Spot gold was 0.5% higher at $1 841.50 per ounce by 10:13 GMT, holding close to last week’s high of $1 847.42 an ounce. US gold futures rose an equal amount to $1 840.70. Investors are looking towards the US Federal Reserve’s two-day policy meeting starting on Tuesday. The Fed is expected tighten monetary policy at a much… Read More Here

Gold Mining Companies Mining in DRC

New high-grade lode discovery at Kibali excites Barrick CEO

January 24, 2022January 24, 2022 admin

Gold miner Barrick Gold revealed at a media briefing in Kinshasa, in the Democratic Republic of Congo (DRC), on January 21, that underground drilling at the Kibali gold mine’s KCD orebody was defining a new high-grade lode above the base of the existing shaft infrastructure. Barrick president and CEO Mark Bristow said this was an “exciting discovery”, which could add an entirely new orebody to the existing KCD series of orebodies. He said exploration and resource conversion would continue this year to extend the life of the mine. The Kibali gold mine… Read More Here

Mining in DRC Gold

Kibali Gold produced a total of 812.152 ounces at the upper end of 2021 targets

January 23, 2022January 23, 2022 arnbethnic

A total of 812,152 ounces have been produced by the Kibali gold mine, within the upper range of 2021 targets, and appears set to increase its mineral reserves after depletion for the third consecutive year, maintaining its mine life of over 10 years as one of Barrick’s Tier 1 assets . During his 44th press briefing held on Friday January 21 in Kinshasa, Mark Bristow, Chairman and CEO of Barrick, noted that this performance, which has continued to strengthen throughout the year, was achieved without that there are no lost time accidents… Read More Here

International Gold

Barrick Gold estimates set the price of an ounce of gold above 1700 USD in 2022

January 23, 2022January 23, 2022 arnbethnic

According to Mark Bristow, Gold should trade between 1750 US dollars and just over 1800 USD per ounce in 2022. A declaration made in Riyadh, on the sidelines of the first major mining conference in Saudi Arabia. The boss of Barrick Gold believes that the risks of falling gold prices in 2022 are lower. “I don’t think there’s a lot of downside risk,” he explained. Meanwhile, other analysts see gold falling considerably this year, in particular because of the increase in the key rate of the American Federal Reserve, which would… Read More Here

Gold Mining in DRC

40.6 million USD invested in subcontracting, Kibali multiplies its positive impact on local economies in DRC

January 23, 2022January 23, 2022 arnbethnic

A total of 40.6 million US dollars invested by Kibali Gold Mines in the fourth quarter of 2021 with local contractors and suppliers (subcontracting). Which refers to 2.1 billion USD that this mining company has invested from its beginnings until 2021 for its subcontractors, in 12 years. These revelations are made by Mark Bristow, Chairman and CEO of Barrick during a press conference held on Friday January 21, 2022 at the Memling. Indeed, 380 subcontractors have benefited from the presence of Kibali since its beginnings in the province of Haut-Uélé. With… Read More Here