Mutapa Mining and Processing (MMP), a consortium of Mozambicans and British that has for 18 months been operating three mines in the district of Manica, in the province of the same name, intends from this February to process and export between 35 and 40 kilograms of gold monthly. The projection is the result of prospecting carried out over the last 18 months by the consortium which, in a first phase, invested in the equipment and
outh Africa’s Harmony Gold expressed excitement at the prospect of working with the Newmont team as its new Wafi-Golpu Joint Venture (JV) partner in Papua New Guinea (PNG). Denver-based Newmont closed its approximately $15-billion acquisition of Newcrest Mining on Monday, concluding a nearly year-long effort to purchase the Australian gold mining company. “As the largest gold mining company in the world, Newmont is an excellent partner with great credentials,” Harmony investor relations head Jared Coetzer
The Assay and Weights Administration (AWA) of Egypt is planning to hold its first electronic auction for gold and silver, scheduled to take place next week. According to a statement on Tuesday, the auction will be facilitated through the Egyptian Mercantile Exchange (EME) trading platform. Nagy Farag, the advisor to the supply minister for gold industry affairs, told Ahram Online that this move aims to generate more revenue streams for Egypt’s treasury. “The Egyptian government’s
The price of gold had its best October in nearly half a century, defying tough resistance from surging Treasury yields and a strong U.S. dollar. The yellow metal rallied an incredible 7.3% last month to close at $1,983 an ounce, its strongest October since 1978, when it jumped 11.7%. Gold, a non-interest-bearing asset, has historically floundered when bond yields were heading higher. An exception has been made this year, however, on a number of significant
Angola is on the verge of opening its maiden gold refinery, currently being built at the Viana Industrial Complex in Luanda. The facility is expected to begin operations in the second half of 2024, with 23 young Angolans currently undergoing training in Portugal, according to a ministerial source. The Ministry of Mineral Resources, Oil, and Gas, responsible for this initiative through the Angolan company GEDANGOL, reports that construction progress on the Gold Refinery has reached
A gold exploration project was inaugurated in Cabinda province last week, representing a $15.2 million investment. This project anticipates an estimated annual production of 3,900 ounces from secondary deposits. The inauguration ceremony was officiated by Diamantino Azevedo, the Minister of Mineral Resources, Oil, and Gas, along with Cabinda’s Governor, Mara Quiosa. The project’s goal is to explore gold in Cabinda, with an expected annual production of 8,900 ounces from secondary deposits. The Ministry of Mineral
Aim-listed gold producer, developer and explorer Shanta Gold has reported steady gold production in line with expectations in its production and operational results for the quarter ended September 30. The report covers the company’s East African assets, comprising the New Luika and Singida gold mines, in Tanzania, and the West Kenya project, in Kenya. Our performance over the third quarter demonstrates the stable and reliable production volumes we have worked hard to achieve, with group gold production across our two operating mines of 27 935
The Aim-listed gold producer, developer, and explorer, Shanta Gold, has reported steady gold production in line with expectations in its production and operational results for the quarter ended September 30. The report covers the company’s East African assets, comprising the New Luika and Singida gold mines, in Tanzania and the West Kenya project, in Kenya. “Our performance over the third quarter demonstrates the stable and reliable production volumes we have worked hard to achieve, with
In a significant stride towards economic revitalization, Caledonia Mining Corporation, a globally renowned mining company, is embarking on an ambitious journey to develop Zimbabwe’s largest gold mine. This move promises to have far-reaching implications, not only for the company itself but also for the nation’s economy and the international mining industry as a whole. Let’s delve into this groundbreaking development and explore the potential impact it may have on the future of Zimbabwe’s mining sector.
The industrial gold production in Mali, one of Africa’s top producers of the precious metal, is expected to reach or even exceed its forecast of 67.7 tonnes for 2023, according to a mines ministry official. Gold production from mines, mainly owned by Barrick Gold, B2Gold, Resolute Mining, Allied Gold, and Endeavour Mining, stood at 45.4 tonnes at the end of August, surpassing the initial forecast of 43 tonnes, Mamadou Sidibe, head of the mines ministry’s
