Friday , July 12 2024

Gold

Akobo Minerals Gold Mine Delayed but Poised for Profitable Takeoff

Akobo Minerals, the Scandinavian gold explorer with its sights set firmly on Ethiopia, has encountered a temporary setback in its production timeline. Nationwide fuel shortages and evolving customs procedures threw a spanner in the works, delaying the mine’s official launch. However, amidst the recent hurdles, Akobo has not been twiddling …

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Green Light for Gold: Kefi’s Ethiopian Project Poised for Launch

A glimmer of gold shines bright on the horizon for Kefi Gold and Copper, as the company’s flagship Tulu Kapi project in Ethiopia has secured the final nod from the lead lender’s credit committee. This crucial green light unlocks a $320 million financing package, paving the way for the development …

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TWIGA TRANSFORMS TANZANIAN MINING, SETS STANDARD FOR INDUSTRY

Twiga Minerals, the joint venture between the Tanzanian government and Barrick Gold Corporation, has revitalized the country’s gold mining industry through a partnership that should serve as a model for similar operations, particularly in developing regions, Barrick president and chief executive Mark Bristow said today. Briefing media at a mine …

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KIBALI SET TO ROLL OUT NEW 10-YEAR PLAN ON BACK OF PRODUCTION RAMP-UP AND RESERVE REPLACEMENT

Barrick Gold Corporation, Africa’s biggest gold mine, Kibali, stepped up production significantly in the past quarter as part of its planned ramp-up and is well on track to achieve its annual guidance.  At the same time, successful exploration is expected to more than replace reserves depleted by mining again this …

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Barrick honoured for tax citizenship in Mali

Mali government has honoured Barrick Gold Corporation’s Loulo Gounkoto Mine for its role in enabling the country’s tax department to achieve its revenue targets for 2022. Loulo-Gounkoto gold mining complex has become one of the largest taxpayer in Mali, The country’s Director of Large Enterprises presented both Loulo and Gounkoto …

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Tanzania’s Barrick Gold delivers record production

Barrick Gold Corporation’s two gold mines in Tanzania, North Mara and Bulyanhulu, ramped up combined output to 547,0001 ounces in 2022, achieving another step towards their potential Tier One2 status in the group’s asset portfolio as a combined complex. At the same time, exploration is continuing to deliver opportunities to …

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Shanta Gold to accelerate growth with windfall from Stanbic Bank

Shanta Gold, an East African gold producer, developer, and explorer, has signed binding definitive documents with Stanbic Bank Tanzania for a $20 million loan facility to help it expand its portfolio. Shanta CEO Eric Zurrin says the four-year $20 million facilities is a significant step forward for the company because …

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Tanzania steps up fight against gold smuggling

An official claimed on Sunday that eight dealers were arrested in Geita, Tanzania’s northern province, for smuggling an undefined amount of gold out of the country. The arrest was reported by Doto Biteko, the Minister of Minerals, at a meeting with small-scale miners in the gold-rich Geita region’s Lwamgasa district. …

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The acquisition of the Nyakafuru project expected to create a major new gold mine development opportunity

Caracal Gold, an LSE-listed company, has agreed to a new share purchase agreement (SPA) for its proposed acquisition of Tyacks Gold, the holder of the Nyakafuru project’s licenses in Tanzania. The project is located 140 kilometres southwest of Mwanza, Tanzania’s second-largest city, amid the Lake Victoria Gold Fields in northern …

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Amani Nature Reserve under threat due to artisanal mining

The Amani Nature Reserve, established by Tanzanian authorities in 1997 to protect the East Usambara Mountains’ unique flora and fauna, is under threat from gold mining, according to an official. Over 20 hectares of natural forest cover have been destroyed by artisanal miners in recent years, according to Fikiri Maiba, …

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