Gold - Copperbelt Katanga Mining

Gold price extends gains amid talks of further energy sanctions on Russia 1

Gold extended gains on Thursday as risk sentiment continues to pile up over the military crisis in Ukraine, with the US and its allies entering discussions on possible further energy sanctions against Russia. Spot gold rose 0.9% to $1,963.48 per ounce by 12:15 p.m. ET, near its highest in two weeks. US gold futures jumped 1.3% to $1,963.50 per ounce in New York. In response to Russia’s continued invasion of Ukraine, the US is currently working with NATO allies on more measures to prepare for the possibility of Russia deploying… Read More Here

Mining in DRC Gold

Kibali powers ahead while Barrick plans further investments in DRC

March 25, 2022March 25, 2022 admin

Africa’s largest gold mine, Kibali, has made a strong start to 2022 and is on track to equal its 2021 production this year. Last year it again replaced the reserves depleted by mining and its prolific KZ trend of orebodies continues to deliver opportunities for significant open pit and underground growth. Speaking to media, Barrick president and chief executive Mark Bristow said Kibali had notched up several other key deliverables during the current quarter. These include the signing of a cahier de charge with the surrounding communities to formalize their… Read More Here

Gold International

Gold price moves higher as safe haven demand stays strong

March 24, 2022March 24, 2022 admin

Gold edged higher on Wednesday as inflation risks and the intensifying Ukraine crisis propped up demand for safe havens, although a firmer dollar and high bonds yields placed a cap on bullion’s gains. Spot gold rose 0.5% to $1,932.09 per ounce by 12:20 p.m. ET, continuing to recover from its worst week since June. US gold futures traded 0.4% higher at $1,930.20 per ounce in New York. “You’re seeing a little bit of safe-haven demand and a little perceived bargain hunting at lower price levels in the gold market,” Jim Wyckoff, senior… Read More Here

Gold International

Gold price recovers from worse week since June with inflation risks creeping up

March 22, 2022March 22, 2022 admin

Gold rebounded from its biggest weekly drop since June as the war in Ukraine continued to push oil prices higher, adding more fuel to global inflation fears and boosting the demand for safe havens. Spot gold rose 0.8% to $1,935.30 per ounce by noon ET. US gold futures had a moderate gain of 0.3%, trading at $1,935.20 per ounce in New York. Meanwhile, both the S&P 500 and Nasdaq 100 fell after posting their best five-day streak since November 2020. West Texas Intermediate oil rose above $110 a barrel as investors… Read More Here

International Gold Mining Companies

Barrick Expands Global Footprint in Hunt for High-Quality Assets

March 19, 2022March 19, 2022 admin

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) is continuing to invest in its future through the development of capital projects that will expand and enhance an operating platform which already holds some of the industry’s best assets, says president and chief executive Mark Bristow. Writing in the company’s 2021 annual report published today, Bristow says that, while building on this value foundation, Barrick was also expanding its presence into new prospective areas in its hunt for high-quality assets. “A specialist Asia-Pacific team, set up to look at opportunities in that region, has acquired… Read More Here

Gold International

Gold price bounces back after Fed’s rate hike announcement

March 17, 2022March 17, 2022 admin

Gold steadied on Wednesday after falling to a two-week low earlier as the US Federal Reserve, in a widely expected move, raised interest rates by a quarter of a percentage point. The reversal comes as bullion’s appeal was dimmed by hopes of progress in Russia-Ukraine talks. Earlier, Ukrainian President Volodymyr Zelensky said peace talks were sounding more realistic, even as Russia’s invasion continued. Spot gold rose 0.5% to $1,926.96 an ounce by 5:08 p.m. ET. US gold futures stayed level at $1,927.00 an ounce on the Comex in New York.… Read More Here

Gold International

Shanta Gold’s West Kenya project receives its first mineral resource estimate

March 15, 2022March 15, 2022 admin

Aim-listed The Ramula target at Shanta Gold’s West Kenya project has received its first mineral resource estimate (MRE). This comes after a successful drilling campaign in 2021, with more updates on other targets – Isulu-Bushiangala and Bumbo – expected in the coming months. The Ramula target adds 434 400 ounces of inferred resources to West Kenya’s total resource, bringing it to 1.6 million ounces, up 36% from the previous MRE. The West Kenya project continues to produce exciting results, according to CEO Eric Zurrin, and the targets reaffirm the project’s… Read More Here

Gold International

Gold dealers swamped by demand as war creates inflation scare

March 14, 2022March 14, 2022 admin

Gold is playing its age-old role as a safe haven in times of wars and crises, and people all over the world are piling in. Russia’s invasion of Ukraine has sent the price of everything from oil and gas to wheat and metals skyrocketing, sparking inflation fears and threatening global growth. That’s driving retail investors everywhere from Vienna and Singapore to New York to the safety of gold, which spiked to $2,070.44 an ounce, close to the record reached during the pandemic. The almost 10% surge in gold prices since… Read More Here

Gold International

Gold price rebounds on ceasefire setback – Goldman targets $2,500

March 11, 2022March 11, 2022 admin

Gold rebounded and rose above $2,000 once again on Thursday after talks between Ukraine and Russia failed to make any progress in halting what is considered the biggest European military crisis since World War II. Spot gold advanced 0.5% to $2,000.69 per ounce by 12:30 p.m. ET, maintaining its highest level since August 2020. Three-month US gold futures were 0.7% higher, trading at $2,003.10 per ounce on the Comex. Bullion had earlier extended its biggest decline in 14 months on hopes that talks between the countries’ foreign ministers could lead to a diplomatic solution.… Read More Here

Gold International

Russian gold hit with de facto ban from key London market

March 11, 2022March 11, 2022 admin

London’s gold market suspended all Russian refineries from its accredited list, meaning their newly minted bars can no longer trade in one of the world’s most important bullion centers. The London Bullion Market Association suspended all six Russian gold and silver refineries from its Good Delivery List following sanctions imposed by the U.S., European Union and U.K. on the country, the LBMA said Monday. Existing bars produced by the refiners before their suspension will still be accepted. The decision amounts to a de facto ban on new Russian gold bars… Read More Here