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Gold Miners Trapped in Congo Landslide

ByVictoria

A landslide at an informal gold mine in the Democratic Republic of Congo where thousands of people were working has left an unknown number of people trapped underground since Sunday.

Twelve people have been rescued, Mr. Rubabura said, adding that the number of missing would be released only once the search was over.

The Lomera site is an artisanal mine, meaning it is not operated by a mining company with professional equipment but by workers who use basic tools to extract ore, often in dangerous conditions.

On Tuesday, M23 members walked around the site issuing instructions to those who remained, telling them not to film or speak to journalists. There was no sign that a serious search for survivors was underway.

Source – New York Times

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    Barrick is a sector leading gold and copper production. One of the biggest in the world and comes in at 2nd in gold mining.

    “The miner this week threatened to suspend operations in Mali over deteriorating mine conditions. Jefferies analysts wrote in a note this week that closure of the mine would reduce Barrick’s earnings before interest, taxes, and amortization by 11% next year.”

    “Mali, under interim President Assimi Goita, has increased pressure on western miners in a bid to raise its revenue share from gold mines. In the last two months, the junta has detained senior executives of western miners, including employees of these companies for alleged non-payment of mining taxes.” Source – https://www.msn.com/en-ca/money/economy/barrick-gold-seeks-arbitration-over-mali-gold-mine-dispute/ar-AA1w6s2W?ocid=socialshare

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    Copper doing well in 2025

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    Copper prices in the U.S. have surged ahead of those in the rest of world and hit a record last week, a sign the mere threat of tariffs is lifting costs for domestic manufacturers.

    Benchmark U.S. copper futures ended Monday at $5.02 a pound, up 26% this year. That compares with an 11% gain to $9,673 a metric ton, or about $4.39 a pound, on the London Metal Exchange, which is the global trading hub.

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    Idaho gold mine wins federal approval despite objection

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    A contested mine in Central Idaho that will produce gold and antimony earned the U.S. Forest Service’s final approval following a lengthy environmental review and objections from the Nez Perce Tribe, which will lose access for decades to federal lands guaranteed by a U.S. treaty.

    “This approval elevates the Stibnite Gold Project to an elite class of projects in America that have cleared NEPA,” Jon Cherry, Pepetua’s president and CEO, said in a statement.

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    The one-of-a-kind 18-carat gold toilet was swiped in under five minutes from Blenheim Palace, the sprawling English country mansion where British wartime leader Winston Churchill was born, in the predawn hours of September 14, 2019, a prosecutor told jurors Monday.

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    I thought this was interesting and thought I’d share. I’m not entirely surprised that something was stolen I am surprised that the burglars got away with the darn thing! I feel like this is actually kinda funny but hopefully justice will be served. – V.