|

Congo gold miner pauses because of dispute on taxes

ByVictoria

Twangiza Mining, a gold miner operating in the rebel-controlled South Kivu Province in the eastern Democratic Republic of Congo, said it has been ordered to suspend operations by the rebel administration, according to a company-wide letter seen by Reuters.

Manu Birato, who was recently installed as M23 governor of the South Kivu Province, said Twangiza Mining must adapt to new regulations and pay taxes they have not been paying.

“We are in talks with them and showing them that from now on they must start paying taxes,” Birato told Reuters.

Source – Reuters

Similar Posts

  • /

    Copper’s early-year rally leaves investors unimpressed

    ByVictoria
    0 Comments

    The London Metal Exchange three-month price has risen every day in January and is now up 4.0% from the start of the month, making copper the early outperformer of the LME base metals pack.

    Dwindling stocks and China’s rising import appetite have rekindled optimism that the country is finally turning an economic corner.

    Fund managers are unconvinced, with investors’ long positions only marginally ahead of bearish bets on both the CME and LME copper contracts.

    The Yangshan copper premium , a closely-watched gauge of China’s import demand, is currently at a one-year high of $75 per ton, indicating China is still hungry for metal.

    Source – Reuters

  • /

    Gold Hits Record in Volatile Session

    ByVictoria
    0 Comments

    “Until we see clarity on the US policies, both trade-related and economic, it will create an environment for increased levels of gold volatility,” said Joseph Cavatoni, senior market strategist for North America at industry lobby the World Gold Council. “So, while we might see a $3,000 gold price, we expect there could be ongoing movements that bring us back below.”

    Spot gold was down 0.1% at $2,905.73 an ounce at 10:28 a.m. in London, after rising to as high as $2,942.68. Silver, platinum and palladium were all lower. The Bloomberg Dollar Spot Index was steady after climbing on Monday. 

    Source – Bloomberg

  • Mayor of Pataz, Peru “Gold is a curse”

    ByVictoria
    0 Comments

    Pataz has become Peru’s largest gold-producing region, in no small part due to artisan or informal mines, which operate under temporary REINFO permits.

    “Gold is a curse for Pataz,” the mayor of Pataz, Aldo Mariño, told Reuters.

    He said that despite the area’s great mineral wealth, his community lives in poverty, without basic services and on deteriorating or unpaved roads.

    “This has been going on for several years, with the difference that now everything has collapsed. It’s due to the absence of the State,” he said. “People continue to die.”

    Poderosa has reported the deaths of 39 workers in recent years in attacks on its facilities or small mines that supply it with gold. And in the last four years, 15 of the company’s high-voltage towers have been destroyed with explosives.

    Source – Reuters

  • /

    Silver Continues to See Same Ceiling

    ByVictoria
    0 Comments

    The silver market continues to threaten the same barrier, which starts at the $32.35 level, and then reaches the $32.50 level before it is all said and done. Because of that, the market, I believe, is just simply grinding away or even pecking away, if you will, at the barrier that has been one of the biggest factors here in the silver market.

    Source – FXEMPIRE / Opinion

  • /

    President Trump inaugural medals being made

    ByVictoria
    0 Comments

    Medalcraft Mint in Green Bay, Wisconsin, is now marketing 2.75-inch (69.85-millimeter) Proof bronze versions and Proof silver versions of the official Donald J. Trump presidential inaugural medal, along with a six-piece process set that illustrates the progression of the striking process for the bronze medals.

    According to Medalcraft sales representative Branden Beyer, the bronze medals are being offered at $75 each, the silver medal at more than $900 depending on the fluctuating daily spot price of silver, and the six-piece process set at $650.

    Source – Coin World