Gold - Copperbelt Katanga Mining

Gold price recovers from recent selloff, supported by physical demand spike 1

Gold extended its recovery from the recent selloff on Friday as a retreat in the US dollar enticed investors to snap up the safe haven metal. Spot gold rose 1.3% to $1,776.83 per ounce by 12:10 p.m. EDT, its highest in more than a week, representing a quick turnaround from the four-month lows touched on Monday. US gold futures jumped 1.5% to $1,779.20 per ounce in New York. Meanwhile, the dollar index fell 0.4% and US benchmark 10-year treasury yields also weakened, bolstering the appeal of gold, a non-yielding asset.… Read More Here

Gold International

Barrick meets 2021 guidance target

August 10, 2021August 10, 2021 admin

Barrick Gold Corporation has completed or progressed major capital projects in the second quarter of the year while its globally broadened exploration programmes delivered substantial reserve gains and stepped up the search for new world-class discoveries. The new Phase 6 heap leach facility at Veladero has been commissioned on time while the third shaft at Turquoise Ridge in Nevada has been sunk to its final depth. Also in Nevada, the updated Goldrush feasibility study has confirmed that this is a world-class asset which meets Barrick’s investment criteria. In the Dominican… Read More Here

Gold International

Gold price at four-month low at $ 1,728 an ounce

August 10, 2021August 10, 2021 admin

Gold continued its slump after a stronger-than-expected US jobs report last week fueled bets that the Federal Reserve may soon start cutting its massive monetary stimulus. Spot gold fell as low as 4.4% in the first few hours of trading in Asia, but recovered to recoup about half of those losses once markets opened in New York. At 11:15 am ET, gold was down 2.0% to $ 1,728.04 an ounce, the lowest since early April. US gold futures also fell 1.9% to $ 1,729.30 an ounce. Silver also fell 7.5%, hitting a more… Read More Here

Mining in DRC Cobalt Copper Gold Zinc

DRC: copper up to 9,700 USD per tonne this week (Mercuriales)

August 9, 2021August 9, 2021 admin

The main export mining products of the Democratic Republic of the Congo oscillate between an upward and downward trend during this week from August 9 to 14, 2021, according to projections by the National Commission of Mercurials, structure of the Ministry of Foreign Trade. Copper is trading this week at US $ 9,709.20 per tonne on the international market against US $ 9,560.40 per tonne last week, showing a positive price differential of US $ 148.8, according to projections by experts from the Ministry of DRC foreign trade. For the… Read More Here

Gold Mining Companies

AngloGold plunges as key African mine may stay shut all year

August 6, 2021August 6, 2021 admin

AngloGold Ashanti (NYSE: AU, JSE: ANG ) stock dropped as much as 12% Friday after it cut production forecast and said a key mine in Ghana may not resume output this year after an accident in May. The company lowered its output goal by about 12% after removing planned gold from the Obuasi operation. Mining activities at the project will remain suspended pending the conclusion of a third-party review of the mining and ground management plans. While AngloGold hopes to restarts the mine by year-end, it would take a “cautious… Read More Here

Gold International

Gold price plummets as US employment data beat expectations

August 6, 2021August 6, 2021 admin

Gold prices took a hard fall on Friday after a strong US employment report boosted expectations the Federal Reserve could begin tapering its economic support sooner than previously anticipated. Spot gold plummeted 2.5% to $1,760.88 per ounce by 11:30 a.m. ET, its lowest in over a month, while US gold futures slid 2.6% to $1,760.90 per ounce in New York. The latest US non-farm payrolls (NFP) report showed that 943,000 jobs were added during the month of July. This figure was well above the market consensus estimate of 870,000. “The… Read More Here

Gold

Resolute to sell Ghana mine to Asante Gold for $90m

August 5, 2021 admin

Australian gold miner Resolute Mining Ltd said on Thursday it would sell its Bibiani mine in Ghana to Canada’s Asante Gold Corp for $90 million. The sale comes months after China’s Chifeng Jilong Gold Mining cancelled a deal to buy the mine, saying it had not received timely information about the termination of a mining lease. Resolute Mining shares rose 4.5% to A$0.58 in early trade. The deal had been approved by Ghana’s minister of lands and natural resources and is expected to be completed in the next 10 days, Resolute Mining said in a statement. The Australian miner, which… Read More Here

Gold International

Gold price can still top $3,000 amid recovery, fund says

August 3, 2021August 3, 2021 admin

Gold is primed to surge to fresh highs as the risks around central banks unwinding massive stimulus are under-appreciated by investors, said a fund manager who forecast the metal’s ascent to a record last year. Diego Parrilla, who manages the $250 million Quadriga Igneo fund, said there isn’t widespread awareness of the long-term damage that’s been caused by ultra-loose monetary and fiscal policies. Artificially low interest rates have created asset bubbles that are too big to burst, which will make it very difficult for central banks to normalize without risking… Read More Here

Gold Mining Companies Mining in DRC

Chinese company disappears after 2 years of Precious Materials exploitation in Bafwasende

July 30, 2021July 30, 2021 admin

The vice-president of the civil society of the territory of Bafwasende in the province of Tshopo, Mr. Philémon Tango staying in Kisangani, told the local press last weekend, that a Chinese company that exploited the precious materials in the Aruwimi River left without a trace. During 2 years of gold mining, this company did not respect the specifications of the local community, as required by law in this area. This situation worries the inhabitants of the region, including the local authorities, since this company making everyone believe that it was not… Read More Here

Gold International Mining Companies

RANKED: World’s 10 biggest gold mining companies

July 30, 2021July 30, 2021 admin

Gold made history in 2020 when the price hit a record high in August as pandemic concerns weighed on investor sentiment. Gold mining has been a hallmark of commerce across the ages, and according to the USGS, about 244,000 tonnes of gold has been discovered to date, resulting in 187,000 tonnes of historical production, leaving the current underground reserves at 57,000 tonnes. Preliminary data shows about 3,200 tonnes of gold were produced globally over the past year. Even though many junior mining companies are engaged in the gold business, the industry today… Read More Here