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Category: Gold

Corporate News Gold International

African Pioneer Secures £420,000 to Advance Namibia Copper-Gold Project

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

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International Gold News

Mali’s Gold Production Drops 23% Amid Government-Miner Dispute

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

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Corporate News Gold International

Mali’s Gold Seizure Forces Barrick Gold to Suspend Operations at Loulo-Gounkoto

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

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Corporate News Gold International

Mali Seizes Barrick Gold’s Assets Amid Growing Tensions in Mining Sector

Mali has begun removing gold from Canadian mining giant Barrick Gold’s Loulo-Gounkoto mine using helicopters, according to four sources familiar with the situation. The operation, which started on Saturday, had transported approximately three metric tons of gold as of Monday, two sources told Reuters. One source estimated the value of the seized gold at $245 million. This dramatic move highlights escalating tensions in Mali’s mining sector as the government tightens its grip on resources, seeking

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International Diamonds Gold

US Sanctions Uncover Global Gold Smuggling and Money Laundering Network

The United States has imposed sanctions on 28 individuals and businesses in the diamond and jewelry industry, accusing them of involvement in a global gold-smuggling and money-laundering operation. The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) revealed that the operation is based in Zimbabwe and led by Kamlesh Pattni, a Kenyan businessman infamous for his role in the 1990s Goldenberg gold-trading scandal. After fleeing to Zimbabwe, Pattni was allegedly involved in

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Gold International News

Ghana’s Gold Trade Desk Generates $1.02 Billion, Boosts Economy

The Minerals Income Investment Fund (MIIF) of Ghana has reported $1.02 billion in revenue over the past year through its gold trade desk. This platform was created to formalize the country’s small-scale mining sector, enhance gold traceability, and provide a dependable market for locally produced gold. In addition to stabilizing the small-scale mining sector, the desk has significantly supported the economy by channeling $600 million to Bulk Distribution Companies for petroleum imports. This measure has

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Gold International News Oil

Gold and Oil Prices Drop Amid Possible Israel-Lebanon Ceasefire

Gold and oil prices fell by approximately 3% on Monday following reports of a potential ceasefire agreement between Israel and Lebanon, which could ease tensions in the Middle East. By 6:00 PM Luanda time, gold—a traditional safe-haven asset—had dropped by 3.13%, trading at $2,631 per ounce. This decline interrupted a five-session streak of consecutive gains. Market analyst Adrián Hostaled highlighted that, in addition to the potential ceasefire, the nomination of Scott Bressent as the future

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International Corporate News Gold Mining Projects

Triton Minerals to Acquire Promising Gold and Copper Project in Mozambique

Triton Minerals Ltd (ASX:TON) has entered into a binding Memorandum of Understanding (MOU) to acquire up to 80% of the Aucu gold and copper project in Mozambique’s central-west Tete province. Spanning 588 square kilometers, the project is strategically located near existing infrastructure and active gold and coal mining operations. It lies approximately 45 kilometers from Tete, the provincial capital, and just 200 kilometers south of Africa Lion Gold’s Chifunde Gold project. The area’s well-established mining

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Gold International News

Tanzania Enforces Gold Export Quota to Boost Foreign Reserves

In a bid to strengthen its foreign reserves, Tanzania has called upon the country’s gold exporters to contribute to national efforts. According to Reuters, Tanzania’s mining regulator has mandated all gold-exporting companies to allocate at least 20% of their gold to the Central Bank of Tanzania (BoT). This initiative aims to support the bank’s strategy to diversify its foreign reserves. The central bank began acquiring gold from local traders and miners in the previous fiscal

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International Gold News

Top 10 African country with the highest foreign exchange and Gold reserves

In global finance, few metrics carry as much weight as a country’s foreign exchange and gold reserves. These reserves are like a financial safety net, helping countries weather economic storms, stabilize their currencies, and handle international debts. In global finance, few metrics carry as much weight as a country’s foreign exchange and gold reserves. These reserves are like a financial safety net, helping countries weather economic storms, stabilize their currencies, and handle international debts. At

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