The Zambian government is expected to make a final decision on the sale of Mopani Copper Mines this month, securing a new investor for the assets it bought from Glencore in 2021, according to a source with knowledge of the matter, as reported by Reuters. Zambia’s Mines Minister, Paul Kabuswe, had initially stated that a new investor for the struggling copper mines would be selected by the end of July. However, the process has been
Gold prices rose the most since July on Monday 9th October, 2023 as safe-haven demand soared after tensions ramped up in the wake of the Hamas attack on Israel. Spot gold gained 1.0% to $1,850.26 per ounce by 1 p.m. EDT, its highest since Sept. 29. US gold futures were also up 1.0%, trading at $1,863.60 per ounce in New York. The precious metal had risen as much as 1.2% earlier in the session before
A forward-looking panel at Critical Minerals Africa (CMA) 2023 will explore how technology, sustainable practices, and localization can ensure stable and secure critical mineral supplies, under the theme, “The Future Minerals Economy and the Resilience of Supply Chains.” The panel will be moderated by Olimpia Pilch, Founder and Chief Operating Officer of the Critical Minerals International Alliance, UK. Panelists include Dr. Marit Y. Kitaw, Interim Director of the African Minerals Development Center (AMDC), Ethiopia; Deshan
The Chairman of the Board of Directors of Endiama, a state-owned diamond company, expressed grave concerns regarding diamond mining activities in concession areas within the Lunda Norte province. These concerns primarily stem from alleged complicity among certain authorities. Jose Gange Júnior voiced his apprehensions during the biannual review session on diamond production, currently underway for three days in Dundo, the capital of Lunda Norte. According to the official, the situation is particularly troubling in the
The Minister of Mineral Resources, Petroleum, and Gas (MIREMPET) made an appeal yesterday for a concerted effort to combat the promotion campaign of the commercial value of synthetic diamonds over natural ones in the international market, conducted by institutions interested in influencing market prices. Edições Novembro Diamantino Azevedo spoke to the media on the sidelines of the meeting of the Ad-Hoc Committee for the Review and Reform of the Kimberley Process Certification System, which concludes
SE- and NYSE-listed Gold Fields has appointed Mike Fraser as CEO and executive director of the company, effective from January 1, 2024. Fraser is currently the CEO of Aim-listed Chaarat Gold Holdings. Prior to that, he was the President and COO of South32’s key metal businesses. He will be taking over from Martin Preece, who assumed the position of interim CEO on January 1 of this year, following the resignation of the former CEO, Chris
Gold miner Gold Fields will spend up to A$15 million to earn a 75% interest in the Edinburgh Park gold project, in north Queensland, owned by ASX-listed Great Southern Mining. Under the earn-in agreement, Gold Fields will sole-fund up to A$15 million in exploration expenditure over a six-year period, to earn the majority stake in the project, which incorporates nine granted exploration licences and two exploration licence applications covering 1,750 km2. The licences surround the
Canada-based miner Fortuna Silver Mines has achieved a new gold production record, with its five mines in West Africa and Latin America producing a combined 128 671 gold-equivalent ounces (GEOs). This is a 38% increase compared with the second quarter and a 26% improvement on the same production a year earlier. The NYSE- and TSX-listed firm produced 94 821 oz of gold and 1.7-million ounces of silver during the three months under review. Gold production
The Ministry of Solid Minerals Development of the Federal Government of Nigeria has issued a warning to international entities that support banditry in order to carry out unlawful mining in the nation. Alaba Balogun, the ministry’s head of press and public relations, issued this warning via a statement he released last week. The warning, according to the Punch NG, a Nigerian newspaper, was issued by Minister Dr. Oladele Alake and was relayed during a courtesy
Gold Fields will decide whether to keep or dispose of its stake in its smallest gold asset within the next four months, according to interim CEO Martin Preece. The Johannesburg-listed firm is “exploring all the options” for the Asanko gold mine in Ghana, including a total divestiture or a move to boost its ownership. The company entered into a joint venture agreement to operate the mine with Vancouver-based Galiano Gold in 2018. It produced 170,342
