|

Mali suspends artisanal gold mining

ByVictoria

Mali said on Wednesday it was suspending licenses for foreign artisanal gold mining companies after a series of fatal accidents in the West African country, one of Africa’s top three gold producers.

Gen. Assimi Goita, president of Mali’s transitional government, ordered “the suspension of artisanal mining permits granted to foreigners,” according to a statement issued following a Council of Ministers meeting.

“These measures are designed to further strengthen the state authorities and protect our fellow citizens. These measures give us the power to seize materials (mining equipment), which will be confiscated and placed in the domain of national heritage,” Gen. Daoud Ali Mohammedine, the minister of security and civil protection, said on ORTM.

Source – The Associated Press – Business News

Similar Posts

  • /

    Cerrado Gold production results

    ByVictoria
    0 Comments

    Mark Brennan, CEO and Chairman commented, “While Q2 results were modestly lower than our expectations as the heap leach continues to ramp up to its fully expanded capacity, we continue to be confident in our full year expectations as the underground operations ramp-up in H2/25. Cerrado also continued to progress both the Lagoa Salgada project and the Mont Sorcier projects towards completion of feasibility studies by Q3/2025 and Q1/2026 respectively, which we believe should demonstrate substantial value being unlocked by Cerrado’s development projects.”

    Source – USA Today

  • /

    Trump to make sure Fort Knox gold is there

    ByVictoria
    0 Comments

    “We’re going to go into Fort Knox to make sure the gold is there… do you know about that?” Trump said to a reporter aboard Air Force One, according to a video posted to X by Musk.

    “We hope everything is fine with Fort Knox, but we’re going to go into Fort Knox, the fabled Fort Knox, to make sure the gold is there.”

    “If the gold isn’t there, we’re going to be very upset,” Trump said.

    Then-Treasury Secretary Steven Mnuchin and Sen. Mitch McConnell, R-Ky., visited the vaults in 2017. They reported that, despite various conspiracy theories, the gold was present.

    Source – FOX News

  • /

    Gold prices with latest tariff concerns

    ByVictoria
    0 Comments

    Gold prices experienced a modest uptick on Monday, rising 0.1 percent to $3,040.57 per ounce. Spot gold rose 0.1 percent to $3,040.57 an ounce as of 7:39 a.m. ET, rebounding after dipping to a session low of $2,971.09 earlier, when some investors sold off bullion to offset losses elsewhere, Reutersreported.

    The imposition of the tariffs has intensified fears of a global recession. Investors are increasingly seeking safe-haven assets like gold to hedge against potential economic downturns. However, the recent sell-off in gold suggests that investors may be liquidating positions to cover losses in other markets, reflecting concerns over the widespread impact of a trade war.

    “Once the dust settles, the rising recession risks, a weaker dollar, lower real yields and bigger rate cut expectations will all play their part in supporting a rebound….

    “Gold’s correction remains a relatively shallow one with key support levels holding.” said Ole Hansen, head of commodity strategy at Saxo Bank

    Source – Reuters

  • /

    Gold Horse Minerals drilling identifies gold targets

    ByVictoria
    0 Comments

    Considering we only listed on the ASX in December 2024, it is pleasing that we have already reported multiple targets from our geochemical survey, achieved excellent results at the Hakes Find project and now unveiled some exceptional intercepts at Hopes Hill

    As the Phase 1 drill program continues over the next three to four weeks, our aim is to validate the historic drill results, refine our targeting practices to allow for further follow-up resource development and target depth and down-plunge opportunities in the high-grade zones that we are seeing in the current drilling

    Source – Trading View

  • /

    Investors fear, copper down

    ByVictoria
    0 Comments

    Looking for another sign of how nervous investors are about tariffs? Copper prices plummeted 7% Friday to about $4.50 a pound in New York. Copper has plunged nearly 15% since hitting a 2025 peak price of about $5.25 in late March. But copper is still up about 13% this year. That may not last much longer.

    Source – Barrons

  • Mining in Peru suspended

    ByVictoria
    0 Comments

    Mining in Peru’s northern district of Pataz will be suspended for 30 days, President Dina Boluarte said on Monday, after 13 gold mine workers in the area were kidnapped and killed by illegal miners.

    On Sunday, miner Poderosa said the bodies of 13 workers from a local firm, R&R, which held a mining contract with Poderosa, had been recovered by police after they were kidnapped last month.

    “The armed forces will take control of the area where Poderosa operates,” Boluarte said, but did not provide details on how the mining pause would work.

    Peru is the world’s third-largest copper producer, but the deposits of the red metal are largely in the south. Gold and silver are mined in the north.

    Jorge Montoro, said the 30-day pause could be extended.

    Source – Reuters