The Democratic Republic of Congo (DRC) exported a total of 27.9 tonnes of gold in 2024, generating approximately $1.5 billion in revenue, according to the annual report from the Technical Unit for Coordination and Mining Planning of the Ministry of Mines. Kibali Gold was the leading contributor, accounting for more than 26 tonnes of gold worth over $1.3 billion. In contrast, MCCR exported only 102.92 kg, generating an estimated $7.6 million in revenue, while Kimia
Most mining companies operating in Angola’s Cabinda province, particularly in the gold sector, risk losing their exploration licenses due to non-compliance with government regulations, warned Angola’s Secretary of State for Mineral Resources, Jânio Corrêa Víctor, on Saturday. Speaking to the press during a two-day working visit to Cabinda, Víctor revealed that out of 11 licensed gold projects in the province, only one has delivered tangible results, while the rest remain inactive. He noted that Angola
Mali, Africa’s second-largest gold producer, has suspended the issuance of new mining permits to foreign companies following a tragic mining accident that claimed over 40 lives. The decision, announced by the Council of Ministers, also includes a ban on issuing artisanal mining permits to foreign nationals while investigations continue. The collapse of an illegal gold mine near Kéniéba in the western Kayes region last month resulted in the deaths of at least 43 people, mostly
Ghana’s new central bank governor, Johnson Asiama, has suspended the country’s gold-for-oil program and expressed confidence that the cedi will stabilize after last year’s volatility. Asiama, who was sworn into office by President John Mahama on February 25, emphasized the importance of maintaining a balanced monetary policy to support exchange rate stability. “We intend to maintain an appropriate monetary policy stance,” he stated, adding that fiscal discipline under Mahama’s administration should help stabilize foreign exchange
Angola’s Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, announced on Friday in Luanda that the Luanda Gold Refinery is expected to be inaugurated in the second half of this year, with 70% of construction already completed. Speaking after an inspection visit, Azevedo confirmed that the refinery—an investment of over $5 million—will initially create 35 jobs across various specialties. According to Endiama E.P., the minister highlighted that construction is progressing steadily, in line with
B2Gold’s Otjikoto Mine in Namibia, in which the company holds a 90% interest, had a strong performance in 2024, producing 198,142 ounces of gold, nearly at the midpoint of its guidance range of 185,000 to 205,000 ounces. For the year ending December 31, 2024, the mill feed grade was 1.87 g/t, with mill throughput at 3.34 million tonnes, and a gold recovery rate averaging 98.6%. In the fourth quarter of 2024, the Otjikoto Mine produced
Mozambique’s gold production dropped 2% in 2024, totaling 1,626 kilograms (1.6 tonnes), compared to 1,666 kilograms in 2023, according to data from the Ministry of Finance. Despite the decline, output exceeded the government’s official estimate of 1,583 kilograms, reaching 103% of the target. Mozambique had set a record high in 2023, with a 32% increase over 2022’s production of 1,263.8 kilograms. However, the 2024 target of 3% growth over 2023 projections was not achieved. At
London-listed African Pioneer has raised £420,000 from existing and new shareholders to advance its Ongombo copper-gold project in Namibia and support activities in Zambia and Botswana. The funds will be used to analyze gold distribution and its association with copper and magnetite quartzite, assess orebody-wide gold distribution, and plan drillholes in underexplored areas. Additionally, external mining and resource consultants will refine resource estimates for open-pit mineralization and provide recommendations for infill drilling to enhance the
Mali’s industrial gold production fell 23% in 2024, dropping to 51 metric tons from 66.5 tons in 2023, according to the country’s mines ministry. This marks the first time in over three years that output has fallen below 60 tons. Mali, one of Africa’s top gold producers, hosts industrial operations run by major international companies, including Barrick Gold, B2Gold Corp, Resolute Mining, and Hummingbird Resources. However, tensions between the government and mining firms have contributed
Barrick Gold has announced the temporary suspension of operations at its Loulo-Gounkoto mining complex in Mali after the Malian government seized three metric tons of gold, valued at approximately $245 million, over the weekend. The gold, confiscated on Saturday and transported by Air Force helicopters, is being sent to the state-owned Banque Malienne de Solidarité (BMS) in Bamako, according to sources. This action follows a court-ordered seizure issued by Judge Boubacar Moussa Diarra, based on
