Gold - Copperbelt Katanga Mining

Chinese company Beyond Mining & a local cooperative exploiting gold in DRC at the centre of discontent by civil society

October 17, 2021October 17, 2021 arnbethnic

The Chinese company Bayond Mining and the mining cooperative for integral development (COOMIDI), which exploit gold in the Mukera mining site in Fizi territory (South Kivu) are accused by civil society of violating all conventions signed with the local community. The two companies are accused, among other things, of not having compensated the peasants whose fields have been plundered and of not keeping the promise to rehabilitate the roads. It is since last August that the two companies officially started gold mining work in the Mukera mining site in the Mutambala… Read More Here

Barrick on track to achieve 2021 production targets

October 15, 2021October 15, 2021 admin

Barrick Gold Corporation has reported preliminary Q3 sales of 1.07 Moz of gold and 101 million pounds of copper, as well as preliminary Q3 production of 1.09 Moz of gold and 100 million pounds of copper. It remains on track to achieve 2021 guidance, with both the Africa & Middle East and Latin America & Asia Pacific regions continuing to trend to the higher end of their regional gold guidance and North America at the lower end. As previously guided, Barrick’s Q4 gold production is expected to be the strongest… Read More Here

Gold International

Gold price rallies as bond yields, dollar retreat

October 14, 2021October 14, 2021 admin

Gold advanced nearly 2% on Wednesday on a retreat in the dollar and US Treasury yields, with investors’ focus on minutes from the Federal Reserve’s latest policy meeting for confirmation of its tapering strategy. Spot gold rose 1.9% to $1,794.73 per ounce by noon EDT, near its highest in a month. US gold futures were up 2.0% to $1,795.40 an ounce in New York. Other precious metals followed, with spot silver rising 2.7% to $23.17 per ounce, platinum gaining 1.1% to $1,023.50 and palladium adding 3.2% to $2,116.50. “Gold is… Read More Here

Gold International

Gold steadies as traders weigh elevated inflation, growth risks

October 13, 2021October 13, 2021 admin

Gold steadied as investors weighed concerns over inflation, fueled by a surge in energy and metal prices that threatens to derail the economic recovery. Focus will turn to the U.S. on Wednesday, where consumer price index data are expected to show price pressures remained elevated last month. And while minutes from the Federal Reserve’s September meeting are likely to signal an imminent scaling back of asset purchases, the latest miss on jobs data may complicate the timing of when tapering could start. Meanwhile, Goldman Sachs Group Inc. economists have cut forecasts for U.S. growth this… Read More Here

Gold Mining Companies

BARRICK GOLD CEO BRISTOW BACK IN PNG

October 12, 2021October 12, 2021 admin

Barrick Gold CEO and President Mark Bristow will be in Papua New Guinea from 12th to 15th of October along with senior Barrick Gold executives, as a part of their quarterly review visits to Barrick operated mine sites throughout the world. Dr Bristow is expected to meet with Prime Minister James Marape and senior PNG Government officials during his visit. While the Porgera Mine is presently under care and maintenance, negotiations for the re-commencement of mining at Porgera continue, in line with the terms of the Framework Agreement signed between… Read More Here

Mining in DRC Equipment & Technology Gold Mining technology

Kibali continues to advance automated mining- DRC

October 8, 2021October 11, 2021 admin

The Kibali gold mine, in the Democratic Republic of Congo, remains on track to achieve its production guidance for the full-year and grow its mineral reserves net of depletion, securing its future as a Tier 1 operation for at least another ten years, Barrick president and CE Mark Bristow has said. Speaking at a tour of the complex for government, community and media representatives, Bristow said the company had continued investment in technological innovation, which was keeping Kibali at the forefront of developments in automated mining. Machine learning has been implemented at… Read More Here

Cobalt Gold Tin Zinc

DRC: cobalt, zinc and tin on the rise this week on the international market (Mercuriales)

October 8, 2021October 8, 2021 admin

Three main export products from the Democratic Republic of Cogo show an upward trend while the others are either falling or stable on the international market in the week from October 4 to 9, 2021, according to forecasts by the National Mercurial Commission of Ministry of Foreign Trade. Cobalt is trading this week at around $ 52,480.00 per tonne versus $ 51,741.00 per tonne last week, a positive price spread of $ 39. Zinc is also up to $ 3,066.00 per tonne this week from $ 3,048.00 per tonne last… Read More Here

Gold Mining in DRC

Gold production in the DRC: Central African Gold buys 60% interest in the Zani-Kodo project for 55 million USD

October 5, 2021October 5, 2021 admin

Central African Gold is a Canadian natural resources company focused on the acquisition, exploration and development of cobalt and copper mining properties in the DRC. Its first major acquisition nonetheless relates to a gold project, a decision which can be justified by the price of the yellow metal for more than a year. The Zani-Kodo gold project in northeastern DRC will change hands. The junior mining company Central African Gold has in fact acquired a majority stake of 60% in this asset from a third party whose identity has not been disclosed. The… Read More Here

Gold International

Gold price shoots higher on US labor data disappointment

September 30, 2021September 30, 2021 admin

Gold prices advanced past the key $1,750 level on Thursday as investors sought haven after a new labor report pointed to an uneven recovery in the US jobs market. Spot gold rose 1.7% to $1,757.38 per ounce by 11:55 a.m. EDT, its highest level in more than a week. US gold futures gained 2.1% to trade at $1,760.30 per ounce in New York. Still, gold is on course for its biggest monthly loss since June, with precious metals pressured by the prospect of a pullback in stimulus measures by the Federal Reserve.… Read More Here

Gold International

Gold price woes continue on rising dollar, yields

September 29, 2021September 29, 2021 admin

Gold extended losses on Tuesday with the US dollar and Treasury yields both staying strong, as investors await the outcomes of a mandated speech given by Federal Reserve chair Jerome Powell to the Congress. Spot gold dropped 0.7% to $1,738.97 per ounce by 11:45 a.m. EDT, after falling by more than 1.0% earlier in the session. Gold futures were also down 0.7%, trading at $1,739.40 per ounce in New York. Meanwhile, benchmark US Treasury yields gained for a fourth consecutive day to hit a more than three-month peak. The dollar… Read More Here