Gold - Copperbelt Katanga Mining

Global demand for silver ore to overtake gold in 2021 (Experts)

February 11, 2021February 11, 2021 admin

Global demand for silver ore will reach 1.025 billion ounces in 2021, its highest level in eight years, as investors and industry step up purchases, the Silver Institute said on Wednesday, forecasting a rise in prices. The coronavirus outbreak has sparked a rush among investors to store cash, which, like gold, is traditionally considered a safe place to store cash. Experts say that momentum will continue, the institute said, predicting purchases of bullion and coins to reach a six-year high of 257 million ounces in 2021. He didn’t give a… Read More Here

Gold

AngloGold Ashanti forecasts earnings to almost triple as gold prices surge

February 10, 2021February 10, 2021 admin

South Africa’s AngloGold Ashanti said on Tuesday it expected annual earnings to almost triple, boosted by a surge in gold prices during 2020 as investors rushed to buy the precious metal seen as a safe-haven asset in turbulent times. The gold miner expects to report headline earnings per share between 229 cents and 247 cents for the year ended Dec. 31, 2020, compared with 91 cents reported a year earlier, it said. A surge in prices of precious metals, including gold’s climb above $2,000 an ounce early last year, had offered miners… Read More Here

Gold International

Equinox expects production growth in 2021, eyes 1moz by 2023

February 10, 2021February 10, 2021 admin

Over the next three years, Equinox Gold expects to continue with its trend of growing gold output, reaching the 1 million oz. annual output level by 2023. The gold producer has provided 2021 guidance, with 600,000 to 665,000 oz. expected this year at all-in sustaining costs of $1,190 to $1,275 per oz. The production numbers represent a 33% increase over the 477,200 oz. generated last year and do not include any contributions from the C$612 million Premier Gold Mines acquisition, announced in December and expected to close in March “2021 represents… Read More Here

Gold International

Gold prices rise on hopes of recovery in the United States of America

February 9, 2021February 9, 2021 admin

Gold prices surged higher on Monday as investor attention shifted back to the prospect of a substantial US stimulus package, which made bullion more attractive as a hedge against inflation. Spot gold continued to rebound from last week’s slowdown, rising 1.2% to $ 1,834.05 an ounce at 11:35 a.m. EST. US gold futures also rose 1.4% to $ 1,839.20 an ounce in New York. “Gold is getting its strength from renewed optimism about US stimulus packages and rising inflation expectations,” Lukman Otunuga, senior research analyst at FXTM, told Reuters. “The metal… Read More Here

Mining in DRC Gold

Amani Gold raises cash to advance Giro gold project

February 8, 2021February 8, 2021 admin

ASX-listed Amani Gold plans to raise up to $3 million to fund deep core drilling, resource estimates and DRC feasibility studies at the Giro gold project located in the Democratic Republic of Congo and meet ongoing working capital requirements. The Giro gold project comprises two exploration permits, Kebigada and Douze Match, covering a surface area of 497 km² and lies within the Kilo-Moto Belt of the DRC, a significant under-explored greenstone belt which hosts the 17 Moz Kibali group of deposits within 35 km of Giro. Under the two-tranche placement, Amani Gold… Read More Here

Gold International

Gold price drops below $ 1,800, its lowest level in 2 months

February 5, 2021February 5, 2021 admin

Spot gold fell below $ 1,800 / oz for the first time since late November, down 2.5% to $ 1,787.95 / oz at 11:30 am EST. US gold futures also fell 2.5% to $ 1,788.60 an ounce in New York. Meanwhile, silver, the sister metal of gold, also fell – falling 2.9% to $ 26.13 / oz – with the market facing a correction following the fueled retail buying frenzy. by Reddit which propelled prices to an 8-year high earlier this week. “This flight to money by some retail investors has… Read More Here

Mining in DRC Gold

Chinese mining company “Xiang Yang Mining” settles in TSHOPO province – DRC

February 3, 2021February 3, 2021 admin

The Chinese mining company “Xiang Yang Mining” has just settled in Liambe village, in Basoko territory, in Tshopo province, with a view to mining for gold on the Aruwimi river. According to the Congolese Press Agency (ACP), the installation of this company in the territory of Basoko comes after 08 (eight) years of negotiations and adds that the activity of gold mining of this company concerns 04 (four) groupings of Basoko territory namely: Ilongo, Likombe, Mongandjo and Yambuya. For his part, the chief of the town of Bombama, Gérôme Kengelanga,… Read More Here

Mining in DRC Gold

Kibali continues to shine for Barrick Gold

February 3, 2021February 3, 2021 admin

The Barrick Gold operated Kibali Joint Venture in the DRC produced 808,134 oz of gold in 2020, achieving the top-end of production guidance for the year. This performance was driven by its underground operation which achieved record monthly and quarterly ore production in December and Q4 2020. Kibali is a world leader in automated underground mining, through systems that allow multiple autonomous machines to operate on the same haulage and production levels, and provide real-time visibility of all operations as well as automated control of the ventilation fans. Leading-edge technology… Read More Here

Gold

Shanta ended the year with higher reserves and resources

February 2, 2021February 2, 2021 admin

Aim-listed Shanta Gold has revealed that it has “produced another notable safety performance”. The company, through CEO Eric Zurrin in a production and operational results release, also states that it achieved its core objectives for 2020, with gold production and costs in line with guidance. Shanta owns the New Luika gold mine (NLGM) and the Singida project, in Tanzania, and the West Kenya project in Kenya. Zurrin says the company is operating drilling campaigns at each of its three projects and expects to increase group reserves during the course of… Read More Here

Gold International

Global gold output to rise 5.5% in 2021 – report

February 2, 2021February 2, 2021 admin

After declining in 2019, global gold production was adversely affected by the covid-19 pandemic during 2020, while the suspension of expansion works and contractions from mines nearing closure also exacerbated the decline. Overall output in 2020 was estimated to have declined by 5.2% to 108 million ounces (moz), according to UK-based analytics company GlobalData. This year, however, total production is expected to bounce back and increase by 5.5% to 113.9moz and then grow to 124.1moz by 2024 – a 2.9% compound annual growth rate (CAGR). Indonesia, Peru and the US will… Read More Here