Gold - Copperbelt Katanga Mining

Gold nears 5-month peak as inflation worries boost appeal

November 12, 2021November 12, 2021 admin

Gold prices neared a five-month high touched in the previous session, after strong U.S. consumer price data prompted a rush into the precious metal seen as a hedge against inflation. Spot gold was up 0.6% at $1,861.39 per ounce. U.S. gold futures for December delivery settled 0.8% higher at $1,863.90 per ounce. “The market is spooked with yesterday’s CPI data coming in as high as it was. Traders are looking at gold as being a safety asset, as a hedge against this inflation risk,” said Bob Haberkorn, senior market strategist… Read More Here

Gold New Mining Projects

Asante Gold to start producing at Bibiani in 2022

November 10, 2021November 10, 2021 admin

Canada’s Asante Gold (TSX-V: ASE), a pure gold exploration and development company, has updated its timeline to restart its past-producing Bibiani gold mine in Ghana. The Vancouver-based miner, which completed the acquisition of Bibiani from Australia’s Resolute Mining (ASX, LON: RSG) mid-August, expects to begin production at the asset in the third quarter of 2022. Mining contractor tenders had been invited and mobilization is anticipated for early next year, Asante said. More than 200 people were on site last month and the company said the process plant refurbishment was slightly ahead of schedule and on budget. Asante aims to produce about… Read More Here

Gold International

Gold price extends rally to hit 2-month high

November 10, 2021November 10, 2021 admin

The creation of a gold refinery and a gold bank by a Turkish firm on cards in the DRC

November 9, 2021November 9, 2021 arnbethnic

The creation of a gold refinery and a gold bank on the agenda of the exchanges between the Minister of Mines, Antoinette N’SAMBA KALAMBAYI and the officials of the Turkish company Niziplioglu This Monday, November 8, 2021, a delegation of the Turkish company Niziplioğlu Kıymetli Madenler San. ve Dış Tic. A.Ş, accompanied by the Minister of Foreign Trade Jean Lucien Mbusa, came to present to Minister N’Samba Kalambayi his project to create a refinery and a gold bank in the DRC. Led by Mr. Murat Niziplioglu, President of boad directors, this family mining… Read More Here

Gold International

Barrick posts lower third-quarter earnings

November 4, 2021November 4, 2021 admin

Canadian gold major Barrick on Thursday reported lower third-quarter adjusted earnings of $419-million – an 18% drop on its second quarter performance and 42% below that of a year earlier. Adjusted net earnings fell to $0.24 a share, from $0.29 a share in the second quarter and $0.41 a share in the third quarter of 2020. Barrick’s results have been weighed down by a retreat in the price of gold, which touched record levels last year amid concerns over Covid-19. The miner reported a realised gold price of $1 771/oz in… Read More Here

Gold International

Gold prices slip on strong dollar as focus turns to Fed

November 3, 2021November 3, 2021 admin

Gold prices fell on Tuesday as the U.S. dollar and equities gained ahead of a much-awaited U.S. Federal Reserve meeting that could provide a timeline on interest rate hikes amid rising inflationary pressures. Spot gold was down 0.3% at $1,787.04 per ounce by 01:35 p.m. EDT. U.S. gold futures settled down 0.4% to $1,789.40. Persistent strength in equities ahead of Fed’s statement on Wednesday continues to weigh on safe-haven metals, said Jim Wyckoff, senior analyst at Kitco Metals. But recent concerns over inflation have limited the downside for gold and helped buying interest,… Read More Here

Copper Cobalt Gold

Market: This week, copper is trading at USD 10,045 per tonne, cobalt at USD 55,695 per tonne

November 2, 2021November 2, 2021 admin

The general price trend of the main mining products of the DRC is up this week on the international market, according to projections by the Commission Nationale des Mercuriales, a structure of the Ministry of Foreign Trade. Among the commodities that are on the rise is cobalt which is trading this week at $ 55,695 per tonne versus $ 55,449 per tonne last week, a positive price spread of $ 146. Tin is also trending upward at $ 38,974 per tonne this week versus $ 38,730 per tonne last week,… Read More Here

Mining in DRC Cobalt Copper Gold

Gridlock Congo Mining, (Sarlu GSM), to soon invest in the industrialization of the mining sector in the DRC

October 31, 2021October 31, 2021 arnbethnic

This information was delivered on Tuesday, October 27, 2021 by Raphaël Kibasa Maliba, representative of GSM in the DRC who led a delegation of this company to the Minister of Mines Antoinette N’Samba Kalambayi. The visit of this company to the ministry and mines was motivated by the work done for the recovery of the sector by the number 1 of mines, Antoinette N’Samba Kalambayi. This is what enabled GSM SARLU to make a firm commitment to investment in the DRC, more particularly in the valuation of mining products in particular:… Read More Here

Mining in DRC Gold

Gold Refinery on Cards in the DRC

October 31, 2021October 31, 2021 arnbethnic

The Managing Director of the mining company, Congo Gold Raffinerie, CGR, Karim SOMJI and his representative and Deputy Managing Director in the Democratic Republic of Congo, YASIN KARIM SOMJI , were received in audience at the office of the Minister of Mines, Antoinette N ‘ SAMBA KALAMBAYI , Thursday, October 28, 2021. They came to present to the Minister, the progress of the works and the progress of the construction of a Gold Refinery in Bukavu, in the province of North Kivu, with a view to refining the raw gold on site in the country. at… Read More Here

Gold International

Global gold demand declines 7% in Q3 — report

October 29, 2021October 29, 2021 admin

Gold demand (excluding OTC) fell 7% year-on-year to 831 tonnes globally during Q3 2021, according to the World Gold Council’s latest report. This drop was almost exclusively driven by ETFs – which swung from very large inflows in Q3 2020 to modest outflows this year – overshadowing strength in other sectors of demand during the quarter, the Council said. Jewellery, technology and bar and coin were significantly higher than in 2020, data showed. Modest central bank purchases were also a solid improvement on the small net sale from Q3 2020. Jewellery… Read More Here