Gold - Copperbelt Katanga Mining

Moody’s upgrades Barrick’s ratings

November 2, 2020November 2, 2020 arnbethnicGold, Zambia

Barrick Gold has announced that Moody’s Investors Service has upgraded the senior unsecured ratings of Barrick and all rated subsidiaries to Baa1 from Baa2, with a Stable outlook. Moody’s noted that Barrick’s liquidity is excellent, which provides significant flexibility to maneuver through gold price volatility. Senior executive vice-president and chief financial officer Graham Shuttleworth said “this upgrade reflects the significant progress that Barrick has made in strengthening our balance sheet since the merger with Randgold. “The improvements that we’ve made to our operations combined with increased gold prices have led… Read More Here

Covid-19 Gold International

AngloGold shuts Mponeng mine after finding 164 coronavirus cases

May 25, 2020May 27, 2020 arnbethnicCOVID-19, Gold, Mponeng

AngloGold Ashanti’s Mponeng mine in South Africa has been temporarily closed after 164 workers tested positive for the coronavirus, the gold miner said in a statement on Sunday. The mine, the deepest in the world, only reopened in April after being shut under a nationwide lockdown and had been operating at around 50% capacity. It accounted for around 7.4% of the company’s total gold production in 2019. THE MINE, THE DEEPEST IN THE WORLD, ONLY RE-OPENED IN APRIL AFTER BEING SHUT UNDER A NATIONWIDE LOCKDOWN AngloGold Ashanti, which also operates mines… Read More Here

Gold International

Armed group robs Mexican gold mine, flees in plane

April 11, 2020April 11, 2020 arnbethnicGold, Gold Bars, Mexico, Mulatos Mine

An armed group stormed a gold mine in northern Mexico and stole bars of gold and silver alloy before fleeing in a light aircraft, mine operator Minas de Oro Nacional said. Minas de Oro Nacional, a subsidiary of Canadian firm Alamos Gold Inc., said in a statement late on Wednesday that the robbery at the Mulatos mine in Sonora state occurred when a group of five “heavily armed” people assaulted security staff who were transferring bars of the precious metals onto a plane. The Mulatos open-pit mine is part of… Read More Here

Mining in DRC Gold

Congo’s Ituri Governor Condemns Rising Insecurity in the Gold Province

April 11, 2020April 11, 2020 arnbethnicDRC, Gold, Ituri

Illicit mining and mineral trafficking are fuelling mine site violence, the governor of the gold-rich Ituri province of the Democratic Republic of the Congo said after armed robbers killed four people, including three Chinese nationals, in a gold mine. The attack occurred at around 1:00 a.m. on the morning of April 5 in a gold site that was mined by the COMIDI cooperative in Irumu, 62 km from the provincial capital of Bunia, the governor said. It was first reported on Monday by China’s official Xinhua news agency. “We can… Read More Here