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Category: Gold

Gold and Uranium Revenues Surpass Diamonds in Namibia for the First Time 1 Gold International Uranium 

Gold and Uranium Revenues Surpass Diamonds in Namibia for the First Time

Constance
Non-Diamond Minerals Overtake Diamonds as Namibia’s Top Mining Revenue Source Namibia’s mining revenue landscape has undergone a significant shift, with income from non-diamond minerals surpassing diamond revenues for the first time, according to the Chamber of Mines of Namibia. Strong gold prices and increased uranium production have helped offset the impact of persistently weak diamond prices. Diamonds have historically been a cornerstone of Namibia’s public finances, accounting for roughly 30% of total export earnings. However, the natural diamond sector has been under pressure since mid-2022, largely due to falling prices… Read More Here
Mali Restores Loulo-Gounkoto Mine to Barrick Mining After Settlement 2 Gold Corporate News International 

Mali Restores Loulo-Gounkoto Mine to Barrick Mining After Settlement

Constance
Mali Returns Loulo-Gounkoto Gold Mine to Barrick Mining, Orders Restitution of Three Tons of Gold Mali has restored operational control of the Loulo-Gounkoto gold mine to Barrick Mining and ordered the return of three tons of gold to the company, following the resolution of a dispute that lasted nearly two years. According to Barrick’s legal representative, the restitution process has already been authorized. The physical return of the gold and the formal handover of the mine will be completed once the remaining legal procedures are officially concluded. The gold, which… Read More Here
Mali Orders Return of $400 Million Gold Seized From Barrick as Mining Dispute Eases 3 International Corporate News Gold 

Mali Orders Return of $400 Million Gold Seized From Barrick as Mining Dispute Eases

Constance
Malian Court Orders Return of Seized Gold to Barrick, Signaling Thaw in Mining Dispute A Malian court has ordered the return of three metric tons of gold, valued at approximately $400 million, that were seized nearly a year ago from Barrick Gold’s Loulo-Gounkoto mining complex, according to Reuters. The ruling comes amid efforts by Mali’s military-led government, headed by General Assimi Goïta, to stabilize the country’s economy and project a more investor-friendly image as it pursues a proposed five-year presidential mandate against a backdrop of prolonged political instability. The bullion,… Read More Here
Zambia Formalises Gold Mining in Kikonge Through Strategic Public–Private Partnership 4 Mining in Zambia Gold New Mining Projects 

Zambia Formalises Gold Mining in Kikonge Through Strategic Public–Private Partnership

Constance
Zambia Signs MoU to Formalise Gold Mining in Kikonge, Boost National Revenue and Debt Servicing The Ministry of Mines and Minerals Development has signed a Memorandum of Understanding (MoU) with ZCCM Investment Holdings PLC and Mining Mineral Resources-SAS to formalise and regulate mining activities in Kikonge, located in Zambia’s North-Western Province. Mines and Minerals Development Minister Paul Kabuswe said the agreement is a critical step toward ensuring that Zambia derives maximum value from its mineral resources. He noted that improved governance and formalisation of gold mining will enhance national revenue… Read More Here
Barrick Completes Sale of Tongon Gold Mine as Portfolio Optimization Accelerates 5 International Corporate News Gold 

Barrick Completes Sale of Tongon Gold Mine as Portfolio Optimization Accelerates

Constance
Barrick Mining Sells Tongon Gold Mine to Atlantic Group in Deal Worth Up to $305 Million Gold miner Barrick Mining has finalized the sale of its interests in the Tongon gold mine and associated exploration properties in Côte d’Ivoire to the Atlantic Group, in a transaction valued at up to $305 million. The company announced on Tuesday that the consideration includes $192 million in cash, which incorporates a $23 million shareholder loan repayment due within six months of closing. An additional $113 million in contingent payments may be made over… Read More Here
Barrick Considers IPO of North American Gold Assets Amid Rising Costs and Investor Pressure 6 International Corporate News Gold 

Barrick Considers IPO of North American Gold Assets Amid Rising Costs and Investor Pressure

Constance
Barrick Mining Weighs IPO of North American Gold Assets as Operational Challenges Mount Barrick Mining (TSX: ABX; NYSE: GOLD) is considering an initial public offering (IPO) of its North American gold assets as the company confronts rising costs and a series of operational setbacks. In a statement, the board said it has unanimously authorized management to explore the creation and listing of a new subsidiary that would house key North American operations. Barrick would retain control of the proposed company, while listing only a small minority interest. The unit would… Read More Here
Angola’s First Gold Refinery Nears Completion, Testing Phase Set for December 7 International Gold 

Angola’s First Gold Refinery Nears Completion, Testing Phase Set for December

Constance
Endiama Confirms December Testing for Angola’s First Gold Refinery Endiama has announced that Angola’s first gold refinery—currently under construction in the Viana Industrial Park—is expected to begin its testing phase in the second half of December. The projection was shared this Thursday during a site visit by the company’s Chairman of the Board of Directors (PCA). According to an official statement accessed by VerAngola, the visit confirmed that the project is in its final stage of construction. The main building structure is already complete, and teams are now installing the… Read More Here
Zimbabwe Raises Gold Royalties to Capitalize on Record High Bullion Prices 8 Gold International News in Brief 

Zimbabwe Raises Gold Royalties to Capitalize on Record High Bullion Prices

Constance
Zimbabwe Introduces 10% Gold Royalty as Prices Stay Above $4,000 an Ounce Zimbabwe is set to increase royalties on gold producers as part of its strategy to benefit from historically high global gold prices, according to the 2026 national budget presented on Thursday. Under the revised revenue measures, gold miners will be required to pay a 10% royalty when bullion prices exceed USD 2,501 per ounce. The adjustment forms part of broader efforts to strengthen government revenues and provide greater support to local industry. Although gold prices have eased by… Read More Here
Barrick Confirms Commitment to $7B Reko Diq Copper Project in Pakistan 9 International Copper Corporate News Gold New Mining Projects 

Barrick Confirms Commitment to $7B Reko Diq Copper Project in Pakistan

Constance
Barrick Reaffirms Support for Reko Diq Copper Mine Amid Speculation of Asset Sale Barrick Mining has reiterated its commitment to the Reko Diq copper mine in Pakistan, one of the world’s largest undeveloped copper deposits, following media reports suggesting the company might consider a withdrawal. The $7-billion project, located in the remote and insurgency-affected western province of Balochistan, is a 50-50 joint venture between Barrick and Pakistani authorities. It is expected to begin production by the end of 2028. Reports this month cited sources familiar with Barrick’s internal discussions, suggesting… Read More Here
Loreto Silva Named Lead Independent Director at Barrick Mining 10 Mining Personality Gold International News in Brief 

Loreto Silva Named Lead Independent Director at Barrick Mining

Constance
Barrick Appoints Loreto Silva to Strengthen Board Leadership After Ben van Beurden’s Exit Global mining, exploration and development company Barrick Mining Corporation has appointed Loreto Silva as its new lead independent director, succeeding Ben van Beurden, who has stepped down from the board. Barrick chairperson John Thornton thanked van Beurden for his service and welcomed Silva to her new role. “I would like to thank Ben for his contribution to Barrick and welcome Loreto to the role of lead independent director. The Barrick board remains focused on delivering long-term value… Read More Here

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