Category: Gold
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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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Libya thwarts smuggling attempt of 100 kg of gold, 1.5 mln euros
Libya’s Internal Security Agency said on Saturday it had thwarted an attempt to smuggle 100 kg (220 lb) of gold and 1.5 million euros at Misrata international airport during a security check of an international flight. The gold bars were found in three suitcases while the money was in one suitcase. The suitcases were spotted…
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Ghana’s economy grows by 6.9% in Q2 2024, fastest in five years
Ghana’s economy rebounded from the worst economic crisis in a generation, driven by expansion in several key sectors, according to the country’s statistics agency. The country’s industrial sector demonstrated 9.3% growth year-on-year, driven by the expansion in mining and quarrying, while the gold sector expanded for the third consecutive quarter, growing 23.6% year-on-year in the…
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Burkina Faso Reclaims Gold Mines From Largest British Mining Firm In Bold Step Towards Resource Sovereignty
In a bold and significant move, Burkina Faso has reclaimed control of two of its major gold mines, marking a shift towards greater resource sovereignty. The Boungou and Wahgnion gold mines, previously owned by an African mining company, have now been nationalized by the BurkinabΓ© government as part of a deal finalized on August 27,…
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Ghana to launch ‘monster mines’ to boost gold production
Africa’s top gold producer Ghana will commission its first large-scale greenfield mine in more than a decade in November, with expected annual production of more than 350,000 ounces, the head of its mining sector regulator said. Ghana, the world’s number two cocoa producer, has seen gold exploration slump over the past decade, limiting new projects…
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Burkina Faso’s Boungou and Wahgnion gold mines now belong to the government
UK-based gold producer Endeavour Mining and Lilium Mining, which is a subsidiary of Lilium Capital, created by US-Burkinabe billionaire Simon Tiemtore, have settled their legal dispute over the sale of two gold mines in Africa after several agreements were signed with Burkinabe Minister of Economy Aboubakar Nacanabo. The conflict began when Lilium acquired the mines…
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Congo’s South Kivu governor lifts mining suspension in province
Democratic Republic of Congo has lifted a suspension of mining activities in the South Kivu province, with the exception of gold extraction, the region’s governor said in a statement on Thursday. Gold, tin ore cassiterite and hi-tech mineral coltan from the eastern province are mostly mined by so-called “artisanal” miners using rudimentary means. Congo’s gold…
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