Gold

Scandinavian gold producer Akobo Minerals is celebrating a significant milestone, reporting first-ever positive earnings before interest, taxes, depreciation and amortisation (EBITDA) of SKr6.9-million for the third quarter ended September 30. This achievement marks a turning point for the company, which also saw revenues climb to SKr22.9-million during the period. Backed …

AngloGold Ashanti, one of the world’s leading gold producers, delivered a robust financial and operational performance in the three months ended September 30, recording a 141% year-on-year surge in free cash flow (FCF) to a record $920-million. This massive increase was attributed to continued cost discipline, which allowed the company …

The Democratic Republic of Congo will start building gold reserves to bolster its currency and lift its economy, the central bank governor said, joining a rush in Africa and elsewhere to stockpile the precious metal as prices soar. Gold prices, which hit record highs above $4 000 an ounce on …

Perseus Mining’s subsidiary Nyanzaga Gold Project in Tanzanian (NGP) has sealed an investment deal with the Tanzanian authorities. The agreements are the result of extensive negotiations conducted between Perseus and Tanzania’s government negotiating team, and govern the development and operation of the NGP that Perseus is currently developing. “Prior to …

A new frontier in gold exploration is emerging in Kenya, where traditional, costly methods are being challenged by the precision of satellite technology. A recent case study by Farmonaut, a remote sensing firm, details a successful project that used satellite imagery to pinpoint potential gold deposits in a 26-square-kilometre area, …

London-listed Caracal Gold has signed a four-month exclusivity agreement with Tanzanian mining company Pumba Resources, targeting gold prospecting licence applications in Tanzania’s Geita and Singida regions. The agreement, announced on 1 August 2025, grants Caracal exclusive rights until November 30 to conduct legal, technical and financial due diligence on Pumba’s …

The Southwestern Ethiopian Peoples’ Regional State has delivered 150 kilograms of gold to the National Bank of Ethiopia during the current fiscal year, halving its initial target of 300 kilograms. Gebremariam Setegn, Director General of the Regional Mining and Energy Development Agency, attributed the shortfall primarily to illegal trade and …

Buckle up, Tanzania! Australian gold mining giant Perseus Mining has just thrown down a cool $523 million (that’s a staggering 817 million Aussie dollars!) to unearth the glittering riches of the Nyanzaga Gold Project (NGP). This ambitious venture, set in the heart of Tanzania, promises to be the country’s first …

The development will be financed through interest-free loans from Perseus’ existing cash reserves. Credit: New Africa/Shutterstock. African-focused gold company Perseus Mining has made a final investment decision (FID) to develop the Nyanzaga Gold Project (NGP) in Tanzania with an investment of approximately $523m (A$817.08m). The updated feasibility study for the …

The burgeoning Rwandan mining industry, a cornerstone of the nation’s economy, faces a significant challenge following the European Union’s decision to impose sanctions on key officials and entities. The EU’s move, announced on March 17, 2025, alleges Rwandan involvement in the ongoing conflict in the Democratic Republic of Congo (DRC) …