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Category: International

Nevada Gold Mines Celebrates Official Opening of Goldrush Mine 1 International Gold 

Nevada Gold Mines Celebrates Official Opening of Goldrush Mine

Constance
The Goldrush Project is officially on track to produce 130,000 ounces1 of gold this year and will further enhance the value Nevada Gold Mines (NGM) brings to the state through taxes, employment and meaningful support for communities, said Barrick President and CEO, Mark Bristow, at the project’s opening ceremony attended by Governor Joe Lombardo and local stakeholders. Barrick, which owns 61.5% of the project through the NGM joint venture with Newmont (38.5%), is developing and will operate the mine, scheduled to reach commercial production by 2026 and growing to approximately 400,000… Read More Here
Construction Advances at Blackwater Mine in British Columbia 2 International Gold 

Construction Advances at Blackwater Mine in British Columbia

Constance
Construction at the Blackwater mine in central British Columbia continues to advance according to schedule, positioning the mine for its inaugural gold pour in the latter half of the year. As of March 31, overall construction progress reached approximately 73%, with approximately C$523 million of the guided capital budget, ranging between C$730 million to C$750 million, already expended, as reported by TSX-V-listed Artemis Gold. Steven Dean, Chairperson and CEO, emphasized the pivotal role of the dedicated team overseeing the development of the Blackwater mine. “Execution is paramount in all projects,… Read More Here
Glencore now sees FY trading division profit between $3bn-$3.5bn 3 International 

Glencore now sees FY trading division profit between $3bn-$3.5bn

Constance
Glencore expects profit at its trading division this year to be at the top end of its long-term annual guidance, in an elevated interest rate and high commodity price environment, it said on Tuesday. The miner and trader expects full-year marketing earnings before interest and tax (EBIT) in the $3 billion-$3.5 billion range, around the top-end of the firm’s long-term $2.2 billion-$3.2 billion forecast range. However, the company left its full-year production forecast unchanged. For the first quarter, Glencore reported total copper production of about 239,700 metric tons, down 2%… Read More Here
South Africa Reacts to BHP Group's Bid for Anglo American 4 International 

South Africa Reacts to BHP Group’s Bid for Anglo American

Constance
President Cyril Ramaphosa’s spokesperson addressed BHP Group’s proposed bid for Anglo American, framing it as “normal market activity” that South Africa is monitoring closely. BHP is reportedly contemplating an enhanced offer for Anglo American after its initial $39 billion bid was rebuffed by the London-listed miner, according to a source cited by Reuters. Vincent Magwenya, the spokesperson, emphasized that it is still early in the process regarding BHP’s proposal to Anglo. He stated, “We will follow, like everybody else, the process as it unfolds. We don’t, as a country, go… Read More Here
The US asserts that it is a better option for Africa than Russia and China 5 International Governance 

The US asserts that it is a better option for Africa than Russia and China

Constance
A recent poll found that China and Russia have higher approval ratings in Africa than America. In 2023, the United States had a 56% approval rating, China 58%, and Russia 64%. The Commerce Secretary of the United States, Gina Raimondo, disclosed to the American news network CNN, that the United States, remains Africa’s best option. According to her, for African countries, the United States is the ideal partner, “without strings attached.” She also pointed out that Africa is free to make its own decisions and that this notion will not… Read More Here
Glencore Eyes Investment in Nigeria's Mining Sector Amid Government Push for Growth 6 International Cobalt Nickel Zinc 

Glencore Eyes Investment in Nigeria’s Mining Sector Amid Government Push for Growth

Constance
Commodities giant Glencore (LON: GLEN) announced on Friday its interest in investing in Nigeria’s mining sector, contingent upon the government ensuring a stable business environment. CEO Gary Nagle, who held discussions with Nigeria’s Minister for Solid Minerals, Dele Alake, expressed particular interest in nickel, cobalt, zinc, and other metals. The timing of this visit aligns with Nigeria’s efforts to attract foreign investors to its underdeveloped mining sector. Alake emphasized the federal government’s commitment to attracting major international companies to drive the growth of the mining sector, drawing parallels with its… Read More Here
BHP Group Mulls Enhanced Offer for Anglo American After Initial Bid Rejection 7 International 

BHP Group Mulls Enhanced Offer for Anglo American After Initial Bid Rejection

Constance
BHP Group is contemplating an improved proposal for Anglo American after its initial $39 billion bid was turned down by the London-listed mining company, according to a source familiar with the situation briefed Reuters. Discussions are underway within BHP regarding a revised bid for Anglo American, which is expected to be presented in the coming weeks, the source disclosed. However, the specifics of the new proposal, including its size and structure, are still being deliberated, the source added. BHP declined to comment on what it termed as “rumor and speculation,”… Read More Here
𝗗𝗘 𝗕𝗘𝗘𝗥𝗦 𝗚𝗥𝗢𝗨𝗣 𝗧𝗢 𝗥𝗘𝗟𝗢𝗖𝗔𝗧𝗘 𝗔𝗨𝗖𝗧𝗜𝗢𝗡𝗦 𝗛𝗘𝗔𝗗𝗤𝗨𝗔𝗥𝗧𝗘𝗥𝗦 𝗙𝗥𝗢𝗠 𝗦𝗜𝗡𝗚𝗔𝗣𝗢𝗥𝗘 𝗧𝗢 𝗕𝗢𝗧𝗦𝗪𝗔𝗡𝗔 8 International Diamond 

𝗗𝗘 𝗕𝗘𝗘𝗥𝗦 𝗚𝗥𝗢𝗨𝗣 𝗧𝗢 𝗥𝗘𝗟𝗢𝗖𝗔𝗧𝗘 𝗔𝗨𝗖𝗧𝗜𝗢𝗡𝗦 𝗛𝗘𝗔𝗗𝗤𝗨𝗔𝗥𝗧𝗘𝗥𝗦 𝗙𝗥𝗢𝗠 𝗦𝗜𝗡𝗚𝗔𝗣𝗢𝗥𝗘 𝗧𝗢 𝗕𝗢𝗧𝗦𝗪𝗔𝗡𝗔

Constance
De Beers Group last week announced it is relocating the De Beers Group Auctions business headquarters from Singapore to Botswana. The relocation supports De Beers’ focus on streamlining its operations and enhancing the efficiency of its activities, while also facilitating further development of the diamond sector in Botswana. De Beers Group’s decision to relocate its Auctions headquarters to Gaborone reinforces its commitment to developing Botswana’s diamond industry. It also reflects confidence in the country’s capabilities and growth agenda. De Beers Global Sightholder Sales moved from the United Kingdom to Botswana… Read More Here
Kenyan President Hails Zimbabwe's Gold-Backed Currency as Economic Boon 9 International Economy 

Kenyan President Hails Zimbabwe’s Gold-Backed Currency as Economic Boon

Constance
Kenyan President William Ruto recently commended Zimbabwe’s new gold-backed currency, ZiG, expressing optimism about its potential to drive economic recovery in the southern African nation. During his address at an international trade fair in Bulawayo, Ruto lauded the introduction of ZiG as a bold move by the Zimbabwean government to rejuvenate the economy amid numerous challenges and pressures, as reported by Bloomberg. Ruto emphasized the significant impact of Zimbabwe’s vast reserves of copper, lithium, gold, platinum, silver, and other precious metals on the nation’s wealth. He highlighted the importance of… Read More Here
Uganda's Gold Exports Surge, Overcoming Tax Disputes 10 International Gold 

Uganda’s Gold Exports Surge, Overcoming Tax Disputes

Constance
Uganda’s Ministry of Finance recently revealed that gold has reclaimed its position as the country’s primary export. Over the past 12 months leading up to February, the gold trade contributed to 37% of Uganda’s total export revenues. This resurgence follows a period of disruption caused by tax disputes, which reportedly cost Uganda Ush600 billion ($160.77 million). Initially, tax issues had significantly hindered Uganda’s gold trade, which accounts for a substantial 44% of the nation’s export income, as reported by the Bank of Uganda. However, after nearly a year of interruption… Read More Here

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