Gold - Copperbelt Katanga Mining

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

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

Mining in DRC Gold

Kibali produced more than 800,000 ounces of gold in 2021 in DRC, -CEO Mark Bristow

January 23, 2022January 23, 2022 arnbethnic

In 2021, a year still dominated by the adverse effects of Covid-19, Kibali Gold Mine produced 812,152 ounces of gold. Production well below annual forecasts. According to Mark Bristow, Chairman and CEO of Barrick, this range is higher than the 2021 objectives.He said so during a press conference held this Friday, January 21, 2022. On this occasion, Mr. Barrick returned to the other highlights that marked Kibali Gold Mines during the 2021 financial year. First : on the investment side, dividends of $179 million were paid to shareholders in the fourth quarter.Along… Read More Here

Gold International

Gold near highest since November as traders seek inflation hedge

January 20, 2022January 20, 2022 admin

Gold held near the highest level in almost two months amid demand for an inflation hedge, while the bond market sell-off stalled and US equities continued to retreat. President Joe Biden said it’s the Federal Reserve’s job to rein in the fastest pace of inflation in decades, and supported the central bank’s plans to scale back monetary stimulus. The yield on 10-year Treasuries slipped from the highest level since January 2020, while the S&P 500 fell 1% Wednesday. Geopolitical tensions are also supporting demand for the haven asset. Biden said he thinks Vladimir Putin… Read More Here

Gold

Barrick meets FY guidance with 4.4Moz gold output

January 19, 2022January 19, 2022 admin

Bullion major Barrick Gold has met its yearly guidance targets for the third consecutive year, producing 4.44-million ounces of gold and 415-million pounds of copper. The group’s guidance for the year was to produce 4.4-million to 4.7-million ounces of gold. The Africa and Middle East, as well as the Latin America and Asia Pacific regions finished the year at the higher end of their regional guidance range, Barrick reported on Wednesday. The company previously said that production from North America, which includes Nevada Gold Mines (NGM), would be at the… Read More Here