Zimbabwe may sell 40% stake in a key gold mine to raise capital

Zimbabwe’s state-owned Kuvimba Mining House is broadening its search for equity partners and financiers for its gold and lithium mines in a bid to raise capital and expand mineral production.

Santacruz Silver Mining reports fatality at Tres Amigos mine in Bolivia

Santacruz Silver Mining said on Tuesday that an employee at the Tres Amigos mine in Bolivia died after a small group of illegal miners unlawfully entered the mine and used explosives.

Zijin Mining to take 9.9% stake in Montage Gold

Canadian miner Montage Gold on Tuesday said Chinese mining firm Zijin Mining Group would take a 9.9% strategic stake in the company through its brokered private placement.

Uganda is latest African nation eying gold as currency shield

Uganda plans domestic gold purchases to build foreign exchange reserves and limit risks on reserve investments, becoming the latest African nation to turn to the precious metal to back up its currency.

IRH mining dealmaker met with Congo gold smugglers, UN says

A businessman who has been leading a push into mining by Abu Dhabi’s largest listed company has been cited for having dealings with smugglers of gold from central Africa, according to a United Nations report.

Global gold ETFs saw second month of inflows in June, says WGC

Global physically backed gold exchange traded funds (ETFs) saw the second consecutive month of inflows in June due to additions to holdings by Europe- and Asia-listed funds, the World Gold Council (WGC) said on Tuesday.

Conflict in Congo threatens trade in key metals, UN experts say

Companies buying metal sourced from central Africa could be exposing themselves to United Nations sanctions for supporting war in eastern Democratic Republic of Congo, according to a report by UN experts.

Canada’s move to protect mining sector shields takeover targets

Canada is making it harder for foreign firms to acquire domestic mining companies by imposing measures that could protect top takeover targets from large global rivals.

India boosts gold reserves by most in two years

India’s central bank probably increased its gold reserves by the most in almost two years last month, according to a World Gold Council analyst.

Gold prices rise to one-month high after US jobs report

Gold prices extended gains on Friday to their highest level in a month following key US jobs data that showed the labor market was softening, lifting expectations around a Federal Reserve interest rate cut in September.

Cyanide spill detected near Victoria Gold’s Eagle mine in Canada’s Yukon Territory

Canada’s Yukon Territory said elevated levels of cyanide were detected in a waterway near Victoria Gold Corp.’s Eagle mine after an equipment failure and landslide at the site.

Freeport McMoran sees lower sales in Q2 on Indonesian permit delays

US copper and gold miner Freeport McMoran on Tuesday said it expects its consolidated sales of copper and gold for the second quarter to be below its April 2024 forecast due to a delay in obtaining an export license for its Indonesian subsidiary.

Ivory Coast to revise mining code to increase state profits

Ivory Coast is planning to revise its mining code in order to increase state profits, the country’s mines minister Mamadou Sangafowa Coulibaly said on Monday.

Alaska Natives sue EPA over Pebble mine veto

Northern Dynasty Minerals said on Wednesday two Alaska native village corporations had sued the Environmental Protection Agency (EPA) for its veto against the Canadian miner’s proposed Pebble mine in the state’s southwest region.

Australia to fund road clearing to Porgera mine after PNG landslide

Australia said it would provide A$2 million ($1.33 million) to Papua New Guinea to restore road access to the Porgera gold mine, previously one of the world’s largest, and other support for survivors after a deadly landslide in Enga province in May.

More central banks to increase gold reserves within 12 months

More central banks plan to add to their gold reserves within a year and more of them expect others to do so as well, due to ongoing macroeconomic and political uncertainty despite high prices for the precious metal, the World Gold Council (WGC) said in its annual survey.

Gold Fields cuts output forecast after bad weather hits new Chile mine

Gold Fields on Thursday lowered its annual gold production forecast after bad weather impacted the ramp-up at its new Salares Norte mine in Chile, sending its shares down 8%.

Gold rush to endure through 2024, though $3,000 mark may prove elusive

Gold’s lightning rally to successive record highs shows every sign of continuing in the second half of 2024 as the fundamental case for bullion remains firmly in place, though $3,000 per ounce looks just out of reach, traders and industry experts said.

Gold rush grips Asia despite near-record prices

Demand for gold in Asia is surging despite prices hovering near the record highs it hit in May, industry officials say, as buyers snap up the metal to hedge against geopolitical and economic uncertainty.

US imposes sanctions on Guyanese mining magnate over alleged fraud

The United States on Tuesday imposed sanctions on Guyanese mining magnate Nazar Mohamed and his son over allegations the two men defrauded Guyana’s government of tax revenues and bribed public officials, the Treasury Department said.

New-look Polymetal aims to double gold output with Central Asia M&A

Gold producer Polymetal International plans to double output by 2029 through acquisitions in Central Asia and will halt dividends while pursuing that goal, it said on Tuesday in a strategy shift since the sale of its Russian assets.

China’s central bank to return to gold buying as prices ease

China, the biggest official sector buyer of gold, is expected to resume its bullion shopping spree once prices ease from the record highs hit in May, as the fundamental case for the metal remains, industry players said at a conference this week.

Global gold ETFs saw first inflows in a year in May, says WGC

Global physically backed gold exchange traded funds (ETFs) attracted their first inflows in May after a year, powered by additions to holdings by Europe- and Asia-listed funds, the World Gold Council (WGC) said on Thursday.

Opening of new mines boosts Ivory Coast 2023 gold output

Ivory Coast’s gold output hit a record high in 2023, helped by the opening of new mines, and will continue to grow further, mines minister Mamadou Sangafowa Coulibaly said on Thursday.

Mali gold mining revenue fell by 26% in 2023

State revenue from gold mining companies in Mali fell 26% last year, hit by lower taxes, a document from the west African country’s mines ministry showed on Wednesday.

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