Gold - Copperbelt Katanga Mining

DRC: gold, silver and tin on the rise this week on the market (Mercuriales Min. Commerce Ext.) 1

Among the Democratic Republic of Congo’s mining exports showing an uptrend this week, July 19-24, 2021, are gold, tin, and silver, according to forecasts. of the National Commission of Mercuriales of Prices, structure of the Ministry of Foreign Trade. Gold is trading this week around $ 59.52 per gram versus $ 57.93 per gram last week, showing a positive price spread of $ 1.59, according to Mercuriales forecast. Likewise, silver is also showing an uptrend this week trading at $ 0.87 per gram versus $ 0.86 per gram last week,… Read More Here

Gold

Barrick second-quarter gold output falls 5.4% on maintenance shutdowns

July 15, 2021July 15, 2021 admin

Barrick Gold said on Thursday second-quarter gold production fell 5.4% from the previous quarter, dented by planned maintenance shutdowns at Nevada Gold Mine, in the US, and Pueblo Viejo, in the Dominican Republic. Total preliminary gold production fell to 1.04-million ounces in the three months ended June 30, from 1.10-million ounces in the first quarter, the company said. Analysts on average had expected production of 1.15-million ounces, according to Refinitiv IBES. The Canadian miner projected second quarter all-in sustaining costs per ounce, a key industry metric, to be 6% to… Read More Here

Gold International

Gold price hits 4-week high following Powell’s dovish commentary

July 15, 2021July 15, 2021 admin

Gold prices moved higher on Wednesday following dovish commentary from Federal Reserve Chair Jerome Powell, which helped ease fears of early tapering even as more inflation data beat expectations. In comments prepared for an appearance before a House committee, Powell said the US economic recovery still hasn’t progressed enough to begin scaling back the central bank’s massive monthly asset purchases. He added that inflation is likely to remain high in coming months before moderating. Powell’s comments helped ease concerns that faster-than-predicted US inflation data will see the central bank taper its monetary… Read More Here

Gold International

Gold breaks $1 800 again as traders await steer from Fed minutes

July 7, 2021July 7, 2021 admin

Gold climbed above $1 800 an ounce again as investors took a risk-off turn before the release of Federal Reserve meeting notes that should bring fresh insight on US monetary policy. Minutes from the Fed’s June gathering will be combed for more clues on the bank’s thinking around rates, bond-purchasing and the economic outlook. Gold is eyeing its highest close in three weeks as softer inflation-adjusted Treasury yields boost the metal’s appeal following its worst month since 2016 in June. “The risk off tone saw investor demand for the safe-haven… Read More Here

Gold International

Gold regains shine after central bank buying drops to decade low

July 5, 2021July 5, 2021 admin

Central banks may be regaining their appetite for buying gold after staying on the sidelines for the past year. Central banks from Serbia to Thailand have been adding to gold holdings and Ghana recently announced plans for purchases, as the specter of accelerating inflation looms and a recovery in global trade provides the firepower to make purchases. A rebound in buying — which had dropped to the lowest in a decade — would bolster the prospects for gold prices as some other sources of demand falter. “Long term, gold is… Read More Here

Gold

Zimbabwe to allow miners to export portion of their gold

June 30, 2021June 30, 2021 admin

Zimbabwe’s central bank will allow large-scale gold mining companies to directly export a portion of their bullion, an official said, as the bank gradually eases its control of gold trading in the country. The central bank-owned Fidelity Printers and Refiners (FPR) is the sole buyer, refiner and exporter of gold in the southern African nation but has at times struggled to pay producers. Reserve Bank of Zimbabwe’s director of exchange control Farai Masendu said in a circular that miners who increased gold production above their average monthly output would be… Read More Here

Gold International

Gold heads for worst month since 2016 on Fed’s hawkish shift

June 30, 2021June 30, 2021 admin

Gold headed for the biggest monthly drop in more than four years after the Federal Reserve sped up their expected pace of policy tightening, sending prices tumbling below $1 800/oz. The rise in US stocks to a fresh record and a resurgent dollar have also weighed on the precious metal. Investors are also assessing new travel restrictions in Europe amid concerns about the coronavirus delta variant, which helped spur a re-think of the reflation trade. Bullion is stabilizing below $1 800/oz as traders now focus on the timing of when… Read More Here

Mining in DRC Gold New Mining Projects

Central African Gold acquires DRC gold project, financing

June 30, 2021July 4, 2021 admin

Central African Gold (TSXV:CAGR) announced today that it acquired multiple precious and base metals projects located in the Democratic Republic of Congo. Central African signed a deal with La Societe Miniere de Bakwanga SA (MIBA) to enter a joint venture to develop and exploit the Musefu Gold Project located in Kasai Central Province in southern DRC. Kevin Torudag, Senior Advisor to the Corporation, stated: “The Musefu Gold Project is a significant land package controlled by a state owned mining company. It has been of interest and had earlier work completed… Read More Here

Mining in DRC Gold

DRC-Rwanda: Tshisekedi and Kagame to regulate illegal exploitation in gold sector and establish peace

June 28, 2021June 28, 2021 admin

The two-day exchanges between Congolese President Félix Tshisekedi and his Rwandan counterpart Paul Kagame resulted in the signing of three bilateral trade agreements. According to the presidency of the Democratic Republic of Congo, one of the agreements concerns traceability in the exploitation of gold. With this in mind, the Congolese presidency, in a press release, announced that Sakima SA (Société aurifère du Kivu et du Maniema) and the Rwandan company Dither Ltd have signed a memorandum of understanding for cooperation in order to deprive armed groups of income from illicit gold… Read More Here

Mining in DRC Gold

DRC: seizure of around 30 kg of gold, worth nearly 2 million USD

June 24, 2021June 24, 2021 admin

The Congolese authorities announce that they seized on Saturday June 19, 2021 31 kg of gold, worth 1.9 million USD. The operation took place at the Okapi Wildlife Reserve, a reserve on the UNESCO World Heritage List, in the Ituri forest, bordering Uganda. The gold seized in the hands of the smugglers came from Muchacha. Three people were arrested and taken to Bunia. Also according to the sources of the reserve, two Chinese are also involved, but they have not yet been arrested because on the run. According to Reuters , the gold came from… Read More Here