Category: Gold

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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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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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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Endeavour Mining Plc and Lilium Mining have resolved their legal dispute concerning the sale of two gold mines in Africa, with both parties agreeing to transfer the assets to the Burkina Faso government. The conflict began after Lilium acquired the Wahgnion and Boungou projects in Burkina Faso in June of the previous year, according to Bloomberg. Endeavour had accused Lilium of failing to meet payment obligations exceeding $100 million. In response, Lilium alleged that Endeavour,

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The Royal Ghana Gold Refinery, which will process 400 kilograms of gold daily, primarily sources raw materials from artisanal and small-scale mines. These mines contribute about one-third of Ghana’s annual gold output of roughly 4 million ounces, according to Bloomberg. Bank of Ghana Governor Ernest Addison stated that the refinery will play a crucial role in curbing gold smuggling, a persistent issue in the country, by providing a ready market for artisanal and small-scale miners.

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