Tag: Gold Mine
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π¨π© Inside the gold rush village hit by mine collapse tragedy
Rescue operations at an artisanal gold mine in the village of Lomera in the Democratic Republic of Congo are continuing after a number of shafts collapsed over the weekend. Local reports say an unknown number of miners are trapped underground while the number of people killed remains unclear. The area is in South Kivu province…
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Burkinabe Authorities Seize $2.28 Million Worth of Smuggled Gold Near Togo Border
Burkinabe customs and national police made a significant breakthrough in the fight against gold smuggling on Tuesday, December 17, 2024, by intercepting 28.6 kilograms of gold worth $2.28 million. The operation took place in Bittou, a city near the border of Togo, following an anonymous tip that exposed suspicious activities involving three individuals. The suspects…
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Ghanaβs 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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π¬π 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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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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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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Gold rush: African nations seek safe haven amid currency woes
African nations are turning to gold in a bid to protect their economies from the turbulent global landscape. Geopolitical tensions, currency fluctuations, and rising inflation have prompted a rush to bolster gold reserves as a hedge against economic instability. This trend is expected to continue, with the World Gold Council anticipating that around 20 central…
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The Price of Gold Reaches New Historic High: An Analytical Insight
The historical prices of gold per troy ounce for the last five years: These figures reflect the general trends in gold prices over the last five years, highlighting a steady increase, particularly during times of economic uncertainty and market volatility. In an unprecedented turn of events, the price of gold has surged to a historic…
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Gold Digger: Agnico Eagle Mines (SA Quant)
Summary Best Gold StockGold has rallied, as market volatility, rising interest rates, and uncertainty around crypto scandals have prompted some investors to seek investments that offer hedges. The U.S. dollar lost some purchasing power amid geopolitical and macro headwinds, yet, βthe dollar remains king.β But, for investors looking for defensive investments amid global uncertainty, diversification…
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Several people killed in accident at abandoned Liberia gold mine
MONROVIA (Reuters) – Several people have been killed in Liberia in an accident at an abandoned gold mine, the West African country’s mines minister said on Tuesday. Minister Wilmot Paye said on Tuesday seven people died in Monday night’s incident, but acknowledged the authorities could not yet provide an exact death toll until a team…
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