A lot has happened in the African mining industry, we've collated some of the top industry stories this week
Over the last decade, global demand for gold has increased constantly amounting to 4,356 metric tons in 2019. Becoming noticeably higher since the financial crisis. Read more.
Additionally, Kitco.com interviewed Axel Merk, President & CEO of Merk Investments. Merk stated that several important fundamental factors drove gold prices to an all-time high, however, he remains bullish on gold as long-term inflation expectations move higher.
According to Mining Weekly, Gold’s performance recently piqued the interest of investors, however with large pools ready to be tapped, the industry must seek out broader investor base.
West Africa focused gold producer Endeavour Mining has restarted the Boungou mine in Burkina Faso, which was acquired by the company July this year. Read more.
East Africa Metals concludes Tanzanian government mediation, forms new partnership for the development of the Magambazi mine and gold stream transaction with a Tanzanian development company. Read more.
Cleaner coal tech to help South Africa reduce emissions, according to Minerals Council. Mining Weekly reported that technology and innovation in the industry should be pursued to mitigate carbon emissions as part of the country’s just energy transition journey.
Miners and banks must take responsibility for emissions, helping put ESG issues at the heart of the mining sector’s business plans, reported by Financial Times.
Anaconda Mining released its Q3 results last week with quarterly gold production up 16% year over year, a junior gold producer to keep an eye on. Read more.
Fenix Resources awarded the drill & blast, mining and crushing & screening contract for its Ironridge project in Western Australia to MACA Ltd. Read more.
Petra Diamonds launches special process for the Letlapa Tala Collection which comprises five blue diamonds sourced from the Cullinan mine in South Africa. Read more.
West Wits Mining has added another 702,000 to the Witwatersrand Basin project, bringing the total to 4.37 million ounces at an average grade of 3.88 grams per tonne gold. Read more.
Lastly, another strong quarter for Perseus Mining’s strong operational and development era is continuing as the company produced nearly 69,000 ounces in the September quarter whilst keeping the build of its new flagship Yaoure project in Cote d’Ivoire well on track. Read more.
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