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
Canada’s Roxgold opened its gold mine in the northwestern region of Côte d’Ivoire on Friday, aiming to produce about 130,000 oz/y of gold, the company said on Friday. “We have more than 10 years of mining production ahead of us at Seguela, and our ambition is to continue exploring and developing. The Seguela gold mine is about 500 km north of the commercial capital, Abidjan. Côte d’Ivoire, the world’s top cocoa producer, is seeking to
Gemstone producer Gemfields earned revenues of $25.5 million from its latest auction of commercial-quality rough emeralds recovered from the Kagem mine, in Zambia. All 43 lots put on offer were sold, resulting in an average price of $7.51/ct. “We are very pleased indeed to see yet another set of auction results that demonstrate that the emerald market remains in excellent shape and wish our auction partners much success during this important tradeshow season,” comments Gemfields
Diversified gold producer Gold Fields has downgraded its 2023 and 2024 production expectations for its new Salares Norte mine in Chile due to a delay in the first gold from the project. In a project update on Friday, the JSE- and NYSE-listed mining firm explained that certain components required commissioning by the original equipment manufacturer (OEM) vendor to maintain the validity of their warranties. “Challenges in securing the OEM vendor representatives, due to previously announced
Diamond producer Botswana Diamonds (BOD) states that mining at the dumps of the company’s Marsfontein project is ongoing. In an update on its Marsfontein and Thorny River projects, in South Africa, the company says exploration, including drilling and geophysics in the mine area, has identified a blow of between 5 m and 10 m, and about 13 m from the surface. This blow has been identified as fresh kimberlite. BOD states that while the company
Canadian mining firm, Thor Explorations, has discovered gold at the Makosa project in Senegal. The firm announced the discovery of 23.35 grams of gold per ton from drillhole DTRC807, marking a significant milestone in the company’s ongoing exploration operations. Thor Explorations CEO Segun Lawson said “The main purpose of the drilling has been to advance the project towards development by upgrading more of the resource to indicated classification and also to commence detailed metallurgical test work that is
The oil and gas industry is the most important engine of industrial growth and economic activity in Angola. However, the National Development Plan 2023–2027 addresses how the country plans to reduce oil revenue dependency to no more than 20% by diversifying the economy and investing in other sectors with growth potential, such as agriculture, infrastructure, mining, green hydrogen, and renewable energy. Infrastructure Recent investments in Angola’s infrastructure have substantially improved, with large infrastructure repairs, expansions,
De Beers Group has announced the successful sale of the Buffels Marine Mining Right, and associated assets, to Kleinzee Holdings Proprietary as of 7 August 2023. The Buffels Marine Mining Right was De Beers’ last remaining mining right at Namaqualand Mines. De Beers has been conducting rehabilitation activities since it ceased operations on the Buffels Marine Mining Right in 2010, while looking for a responsible operator for the mining right. Kleinzee Holdings is a consortium led by
