Gold - Copperbelt Katanga Mining

Gold gains as dollar, yields ease; traders focus on U.S. inflation data 1

Gold prices rose on Tuesday, supported by a weaker U.S. dollar and Treasury yields, as traders awaited December inflation data and weighed bets for quicker interest rate hikes by the Federal Reserve. Spot gold rose 0.4% to $1,809.22 per ounce by 0723 GMT. U.S. gold futures were up 0.6% to $1,808.80. “Pullback in both the U.S. dollar and 10-year treasury yields are supporting gold prices, but the fact that markets are still seeing three to four interest rate hikes this year is limiting the upside potential,” said Margaret Yang, a… Read More Here

Gold

Mining contractor for Bibiani gold mine announced

January 11, 2022January 11, 2022 admin

CSE-listed Asante Gold Corporation has appointed PW Mining (Ghana) to conduct mining activities at its Bibiani Mine. Open pit mining operations will start in February, to include development of satellite pits and provide feed material to the Process Plant from Q2 2022. Main pit development, to its planned ultimate +350 metres depth in 2029, includes a 4-stage cut back programme. Total material movement will be up to 75 Mtpa. PW Mining will mobilise up to 125 units of heavy equipment, including drills, excavators, haulage trucks, bulldozers, and ancillary equipment. Site establishment includes… Read More Here

Gold International

Gold price slides to 1-week low on hawkish Fed signal

January 7, 2022January 7, 2022 admin

Gold prices slid to a one-week low on Thursday, pressured by a rallying dollar and bond yields after the US Federal Reserve signalled quicker increases to interest rates. Spot gold declined 1.1% to $1,789.20 an ounce by 12:10 p.m. EDT, its lowest since Dec. 29. US gold futures on the Comex were down nearly 2.0%, trading at $1,789.00 an ounce. The Fed minutes released on Wednesday showed officials had discussed shrinking the central bank’s overall asset holdings, as well as raising rates sooner than expected to fight inflation. As a result, the… Read More Here

Gold

Osino acquires Namibia gold project from B2Gold for $15.2m

January 7, 2022January 7, 2022 admin

Gold exploration and development company Osino Resources has entered into an agreement to acquire the Ondundu gold exploration property, in Namibia, from TSX-listed B2Gold for $15.2-million. The Ondundu gold project is located 250 km northwest of Windhoek. “We believe this is a highly accretive transaction for Osino, as it provides significant additional scale, diversification and consolidation of Osino’s Namibian projects. “We plan to build on the excellent exploration and resource development work B2Gold completed over the past six years and to quickly advance the project to compliant resource stage,” says Osino president and CEO Heye Daun. “Based on the project’s historical exploration and analysis, we believe the project has the type of mineralisation with potential… Read More Here

Gold Mining in Zambia

Continued suspension of Kasenseli gold mine puts central bank’s gold reserve build-up in jeopardy

December 9, 2021January 5, 2022 admin

The new Mines Minister Paul Kabuswe’s continued suspension of the Kasenseli gold mine operating license, and thus mining activities, from late October 2021 put the central bank’s gold reserve build-up target for 2021 in jeopardy. Since the gold-buying program began in January this year, the Bank of Zambia (BoZ) has spent approximately US$37 million on refined gold from First Quantum’s Kansanshi mine. Kasenseli Gold Mine’s operations in Mwinilunga, North-Western Province, were halted after a Ministerial directive from the Minister of Mines and Minerals Development to do so to address concerns… Read More Here

Gold

Barrick’s Bulyanhulu acquires six new prospecting licences in Tanzania

December 8, 2021January 25, 2022 admin

Twiga Minerals, a joint venture between Barrick and the Government of Tanzania, announced on Tuesday the acquisition of new prospecting licences in Tanzania by Bulyanhulu Gold Mine Limited, a subsidiary of Barrick. Bulyanhulu has entered into a binding agreement with Barrick Gold (NYSE: GOLD)(TSX: ABX), Tembo Gold Corp, and the Mineral Industry Promotion and Consulting Company Limited, a wholly-owned subsidiary of Tembo, for the acquisition. Bulyanhulu will acquire from MIPCCL a 100% interest in six prospecting licences located in areas adjacent to the Bulyanhulu mine and have the potential to… Read More Here

Mining in Zambia Copper Gold

Galileo signs option agreement to earn 51% interest in Zambia copper/gold project

December 8, 2021January 25, 2022 admin

Aim-listed Galileo Resources has entered into an option and joint venture (JV) agreement with Garbo Resource Solutions to earn an initial 50% interest in the Shinganda copper/gold project, in Zambia. Galileo has committed to spending $500 000 on exploration and evaluation at Shinganda over a two-year period. “This project fits the Galileo model in that the licence areas have good copper and gold intersections from previous campaigns. The agreement gives us the opportunity for new deposit discovery and/or small mine production potential. “We look forward to working on this project commencing early in the New Year,” Galileo CEO Colin Bird says. Galileo plans to review past exploration data and undertake… Read More Here

Gold International

Gold holds advance as virus adds to risks for global growth

December 7, 2021December 7, 2021 admin

Gold held onto Friday’s gain amid risk-off sentiment as investors weigh mixed labor data from the US, the Federal Reserve’s hawkish tilt and the threat of the omicron variant. Data Friday showed US job growth registered its smallest increase this year while the unemployment rate fell by more than forecast to 4.2%, offering a mixed picture that may nevertheless push the Fed to quicken the wind-down of pandemic stimulus. It came after Chair Jerome Powell signaled faster tapering of asset purchases amid elevated inflation. Meanwhile, Goldman Sachs Group economists cut their forecasts for the… Read More Here

Cobalt Copper Gold Mining in DRC Zinc

Market: Cobalt jumps to over 63,000 USD per tonne this week from December 6 to 11, 2021

December 6, 2021January 24, 2022 admin

The market for merchant mining products for export from the Democratic Republic of the Congo is improving this week from December 6 to December 11, 2021, according to projections by experts from the National Mercurial Commission of the Ministry of Foreign Trade, which is piloted by the Minister Jean-Lucien Bussa. Cobalt remains higher and is trading this week around $ 63,145.00 per tonne versus $ 61,232.85 per tonne last week, showing a positive price differential of $ 1,912.15. Copper is also trending upward to $ 9,752.00 per tonne versus $… Read More Here

Gold International

Gold falls to one-month low on Powell’s hawkish remarks

December 2, 2021December 2, 2021 admin

Gold plumbed a one-month low on Thursday as US Federal Reserve chairman Jerome Powell‘s comments on the need to tame inflation bolstered bets for faster monetary policy tightening and offset Omicron-driven safe-haven inflows into bullion. Spot gold fell 0.4% to $1 775.80 per ounce by 11:02 GMT, having earlier hit its lowest since Nov. 4. US gold futures dropped 0.5% to $1 775.30. In his second day of testimony in Congress on Wednesday, Powell said the Fed needed to be ready to respond to the possibility that inflation might not recede… Read More Here