Golden Star reports solid Q3 2020 gold production and EBITDA
Golden Star Resources Ltd. (NYSE American: GSS) (TSX: GSC) (GSE: GSR) (“Golden Star” or the “Company”) reports its financial and operational results for the third quarter ended September 30, 2020. Q3 2020 AND YEAR TO DATE HIGHLIGHTS: On September 30, 2020 the Company completed the previously announced sale of the Bogoso-Prestea gold mine to Future Global Resources...
Read moreResponsible Traceable ASM Gold Mining Supply Chain Next-Door in Coté d’Ivoire
After a first export of gold, IMPACT (https://IMPACTTransform.org/en/) and the European Union announced today that a traceability and due diligence system from mine site to the international market for artisanal gold from Côte d’Ivoire has been successfully implemented as part of the Just Gold project. The Just Gold project supports artisanal gold miners, a mining...
Read moreNIGERIA SETTING THE STAGE TO LEAD AFRICA IN THE GOLD INDUSTRY
For the past 62 years, Nigeria has drilled a total of 45 american trillion barrels of oil but has little to show for it in the socio-economic lives of the ordinary Nigerian. So, in 2000, the Obasanjo Government set up the Niger Delta Development Commission (NDDC) to use oil levy to develop at least the...
Read moreNordgold leapfrogs in acquisition of Cardinal Resources’ Namdini
The Russian company, Nordgold, headquartered in the United Kingdom appears to be winning the battle of Namdini over the Chinese Miner Shandong. NordGold re-valued Cardinal Resources Namdini Gold Project at A$347 million based on 100% of the ordinary equity on issue and made a new offer of A$0.66 per share. Meanwhile, setting the stage for...
Read moreParliament approves 14 mining leases to monetize the minerals income of Ghana.
Members of Parliament have backed mining lease agreements between the government and 14 mining entities under the Asaase Royalties Limited special purpose vehicle associated with the Royalty Monetization provision of the Minerals Income Fund Act of 2018 (Act 978). The leases are AGA Miradani granted to Ashanti Goldfields Company Limited, Lima South granted to Abosso...
Read moreRussia and China battle for Namdini in Ghana
by Raymond Kudzawu-D’Pherdd In June 2020, Shandong Gold Mining of China made an offer of A$0.60 a share in cash for Cardinal Resources Namdini Project. This offer beat a preliminary proposal announced by Nordgold in March 2020 of A$0.45775 a share for the same project. Consequently, Cardinal Resources entered into a bid implementation agreement with...
Read moreSouth Eastern Ghana experiences earth tremors on June 24, 2020.
By Raymond Kudzawu-D’Pherdd. Three separate earth tremors hit the south eastern part of Ghana on Wednesday June 24, 2020. They lasted for a period of about 10 minutes. The first of the tremors was felt across Accra, Tema, Teshie, Burma Camp, Legon and surrounding areas around 10:51 pm, shortly after that another one was felt...
Read moreChina’s Shandong all-cash buy up of Cardinal Resources
Cardinal Resources announced that it had entered into a bid implementation agreement with the Chinese Shandong Gold Mining on June 18, 2020 for the Namdini Project. Consequently, Shandong Gold Mining is said to have made a quick move to buy this Australia-headquartered gold junior for A$0.60 a share in cash, beating the preliminary proposal announced...
Read moreSmall Scale Miners in Ghana prepare to benefit from World Bank GASMFP and Government’s MMIP/LECITA
The unbridled informal mining activities and the associated environmental degradation in Ghana necessitated a prolong governmental ban on all artisanal and small scale mining activities in the country. This temporarily provided improvements in the country’s water bodies. Unfortunately, the situation today appears to be worse than before the ban. Consequently and in search for a...
Read moreBest AISC Managed Gold Mines in Ghana: Akyem, Asanko & Iduapriem.
Using the “All-In-Sustaining-Cost” (AISC) which is a mining metric that estimates all direct and recurring costs required to mine a unit of ore, three best performing mines in Ghana appear on the West African Mining Province: they are Newmont Akyem Mine, Asanko Gold Mine and AngloGold Ashanti Iduapriem Mine. The World Gold Council has encouraged...
Read moreA New Property of Gold has been discovered. What does this mean for the industry?
Researchers from the Max Planck Institute have discovered new two-dimensional semiconducting property of crystalline single atomic layers of gold when paired with equal thickness of silver. Metals are usually characterized by good electrical conductivity. This applies in particular to gold and silver. However, the researchers from the Max Planck Institute for Solid State Research in...
Read moreGhana loses its largest gold producer position in Africa to South Africa
By Raymond Kudzawu-D’Pherdd In spite of a 6% annual increase in production in 2019, Ghana lost her number one position in gold production on the continent in the first quarter of 2020. The country produced 700 koz of gold in the first quarter of 2019, while South Africa produced 561 koz. Irrespective of a government...
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