Gold - Copperbelt Katanga Mining

Barrick’s Bulyanhulu acquires six new prospecting licences in Tanzania 1

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

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

Gold International

Gold climbs as Moderna CEO’s warning rattles risk appetite

December 1, 2021January 21, 2022 admin

Gold climbed higher on Tuesday as investors sought safe havens again after Moderna’s CEO warned Covid-19 vaccines were likely to be less effective against the Omicron variant, putting bullion on course for a second straight monthly gain. Spot gold rose 0.4% to $1 792.23 per ounce by 1255 GMT, while US gold futures advanced 0.5% to $1 794.70. The Moderna chief’s comments rattled financial markets, leading to a slide in European equities. The US dollar index also fell 0.6%, helping gold’s advance by making it a cheaper bet for overseas buyers, while U.S. benchmark 10-year Treasury yields hit their… Read More Here

Gold International

Gold rises as Omicron fears offset strength in dollar

November 29, 2021November 29, 2021 admin

Gold prices edged higher on Monday as concerns over the impact of the Omicron coronavirus variant offset a stronger dollar, with investors assessing whether the emergence of the variant could change the U.S. Federal Reserve’s hawkish stance. Spot gold rose 0.2% to $1,794.87 per ounce by 0646 GMT, while U.S. gold futures advanced 0.5% to $1,794.20. With new cases of the Omicron variant found in the Netherlands, Denmark and Australia, more countries imposed travel restrictions to try to seal themselves off. “Given the uncertainty around whether this new variant is… Read More Here

Gold International

Gold gains as new Covid-19 variant lifts safe-haven demand

November 26, 2021November 26, 2021 admin

Gold prices gained on Friday, as concerns over the spread of a newly identified coronavirus variant boosted the metal’s safe-haven appeal, although bullion was set for a weekly drop on growing bets the US Federal Reserve could turn more hawkish. Spot gold was up 0.5% at $1 797.46/oz, as of 04:45 GMT. US gold futures advanced 0.8% to $1 797.70. The variant, detected by scientists in South Africa, may be able to evade immune responses and has prompted Britain to hurriedly introduce travel restrictions on the African nation. Further aiding gold’s climb, the dollar index eased 0.2%… Read More Here

Gold

B2Gold weighs acquisition of gold assets in Zimbabwe

November 26, 2021November 26, 2021 admin

B2Gold Corp., the Canadian company that owns mines in Africa and the Philippines, is interested in acquiring gold assets in Zimbabwe. The mid-tier gold producer which has mines in Mali, Namibia and the Philippines, has held talks with the government and other officials in the southern African nation “to see if they are ready for us to come in,” said Clive Johnson, chief executive officer at the Vancouver-based company. “There is really a strong case and we are making that case in Zimbabwe,” Johnson said in a Nov. 24 interview.… Read More Here

Gold International

Gold price drops to 2-week low as Fed opens door to faster tapering

November 23, 2021November 23, 2021 admin

Gold erased more than two weeks’ worth of gains on Monday, pressured by a firmer dollar and expectations that the US Federal Reserve may accelerate the pace of policy tightening to combat inflation. Spot gold was down 1.6% to $1,816.91/oz by noon ET, after falling to its lowest since Nov. 5 at $1,812.09/oz earlier in the session. US gold futures declined 1.8% to $1,818.10/oz in New York. Bullion’s latest pullback comes after comments from Fed Vice-Chair Richard Clarida last week suggested that the central bank would table the idea of tapering its… Read More Here