Category: Gold
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Chinese Miners Released Despite Operating Illegally in the DRC, Sparking Outrage
On December 24, 2024, the Congolese government released 14 of the 17 Chinese nationals arrested the previous week for operating an illegal gold mine in Karhembo, South Kivu Province. The arrests had followed an unannounced raid by local authorities on the unlicensed mining operation. The released individuals are now en route back to China, while…
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Ghana’s Youth Unemployment Crisis and the Rising Tide of Galamsey: A Call to Action for the Diaspora
Ghana, once lauded as a beacon of stability and economic potential in West Africa, is grappling with a critical unemployment crisis, particularly among its youth. With limited opportunities for formal employment, many young Ghanaians are turning to illegal gold mining, locally known as galamsey. This informal and often dangerous activity has grown into a national…
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🇧🇷 Brazil police bust $166 million illegal gold scheme on Indigenous lands
In a major crackdown, Brazil’s Federal Police announced on Wednesday that they have dismantled a massive illegal gold mining operation on Indigenous lands. The scheme, valued at an astonishing 4 billion reais (approximately $166 million), highlights the devastating exploitation of both natural resources and Indigenous communities in the Amazon region. The investigation revealed a sophisticated…
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🇲🇱 New era of sovereignty in Mali’s gold sector
Mali, one of Africa’s largest gold producers, is undergoing a radical transformation in its mining sector. The Malian government is intensifying its efforts to recover between 300 and 600 billion FCFA in unpaid taxes and dividends, particularly from foreign mining giants like Barrick Gold. The recent arrest of Resolute Mining’s CEO, Terence Holohan, in November…
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🇬🇭 Ghana opens its largest single gold mine
Ghana has commissioned its largest single gold mine in a historic milestone. The mine, established by Chinese-owned company Shandong Gold through its subsidiary Cardinal Namdini Gold Limited, is located in the Talensi District of the Upper East Region. The open-pit mine is expected to operate for 15 years, producing around five million ounces of gold…
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Burkina Faso plans to withdraw some mining permits
Burkina Faso has recently announced a strategic decision that could have significant implications for the nation’s economy and its position in the global mining industry. The country’s leadership, under junta leader Ibrahim Traore, is planning to withdraw mining permits from certain foreign companies. This move is part of a broader initiative aimed at boosting the…
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IMF and Ghana reach staff-level deal on $3 bln loan-programme review
International Monetary Fund staff and officials in Ghana have reached an agreement on their third review of the West African country’s $3 billion IMF loan programme, the fund said on Friday. The West African gold and cocoa producer is nearing completion of a debt-restructuring process under the G20’s Common Framework initiative, after it defaulted on…
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Ghana plans three-day protest over illegal mining, arrests
Ghanaians are set to stage a three-day protest this week demanding government action on illegal gold mining and the release of 54 activists detained for demonstrating against the illicit activity. The government’s handling of illegal mining — particularly its impact on natural resources and rural livelihoods — has become a flashpoint issue in the run-up…
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Four employees of Canadian miner Barrick Gold reportedly arrested in Mali for financial crimes
The four arrested are senior Malian employees of Barrick Gold, the world’s second-largest gold miner and one of Mali’s top gold producers, according to Western media citing multiple unanimous sources. The arrests, which reportedly took place on Wednesday, come amidst a broader shift in Mali’s mining policy, aimed at increasing state control over gold revenue.…
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Tanzania orders 20% of gold exports to its central bank for reserve diversification
To bolster its foreign reserves and combat the depreciating shilling, the Bank of Tanzania began purchasing gold from local traders and miners last fiscal year, acquiring 418 kg. The bank aims to purchase 6 tonnes of gold in the current fiscal year. The Tanzania’s Mining Commission announced that a new mining law, effective October 1,…
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