Latest news with #artisanalMining
Bloomberg
6 hours ago
- Business
- Bloomberg
Gold Rally Brings Riches to Rural Zimbabwe
Horizons Middle East and Africa The three-year surge in gold prices, driven to a record this year as US President Donald Trump's trade war bolstered its allure as a safe-haven, is enriching Zimbabwe's more than 700,000 informal, or artisanal, miners. They are flocking to gold mining belts and throwing a lifeline to an economy that's been in turmoil since the turn of the century. Bloomberg's Ray Ndlovu reports. (Source: Bloomberg)
Zawya
04-06-2025
- Business
- Zawya
Mining in Motion Summit Highlights Growing Support for Formalized Artisanal and Small-scale Mining Sector (ASM) Industry
The second day of the Mining in Motion 2025 Summit highlighted global industry leaders advocating for greater formalization of the artisanal and small-scale mining sector (ASM). The event featured keynote presentations calling for increased cooperation between the ASM and large-scale operators to drive sustainable industry growth. David Tait, CEO of the World Gold Council, emphasized the scale and importance of the ASM sector, which provides livelihoods for over 40 million people globally. However, he noted that the sector continues to face critical challenges, including illegal operations and environmental degradation. 'With rising global demand and gold prices, illegal mining is on the rise - fueling civil unrest, child labor and depriving governments of billions in revenue that could support development,' Tait stated. 'There is a risk in slow policy responses. In 1990, ASM accounted for just 4% of global gold production; today, it represents over 20%.' He commended Ghana for its various mechanisms such as the Ghana Gold Board in addressing illicit mining. 'Government leadership is a fundamental requirement,' he added. He called for African markets to increase focus on the professionalization and formalization of ASM operations, increasing ASM access to legitimate financing, and the adoption of mercury-free processing methods. He also highlighted the World Gold Council's work with seven central banks, including several in Africa, to ensure gold purchases from ASM sources are channeled through legal frameworks. Additionally, the Council has developed a guide to foster effective collaboration between the ASM and LSM actors. Representing Africa's largest gold producer, Stewart Bailey, Chief Corporate Affairs&Sustainability Officer at AngloGold Ashanti, echoed the call for coexistence. 'ASM has been part of the value chain since we were incorporated. For many years our approach has been to co-exist with ASM wherever feasible,' noted Bailey. AngloGold Ashanti is working with governments, NGOs and global organizations like the World Gold Council to support ASM operators in adopting mercury-free practices, upholding human rights, and promoting environmental rehabilitation, according to Bailey. Allan Jorgensen, Head of Responsible Business Conduct at the OECD Centre, reinforced the importance of responsible mining practices. 'To unlock Africa's potential, we must confront the challenges associated with gold as a driver of illicit activities,' Jorgensen said. The OECD developed a Due Diligence Guidance, supported by governments and aligned with regulations like those of the London Bullion Market Association, to reduce environmental and social risks in gold supply chains. Distributed by APO Group on behalf of Energy Capital&Power.
Associated Press
20-05-2025
- Business
- Associated Press
Dynacor Group Reports Sales of US$22.8 Million in April 2025
MONTREAL--(BUSINESS WIRE)--May 20, 2025-- Dynacor Group Inc. (TSX-DNG) ('Dynacor' or the 'Corporation'), today announced unaudited gold sales of $22.8 million in April and year-to-date sales of $102.8 million. All figures are in US dollars unless otherwise indicated. This press release features multimedia. View the full release here: Monthly Highlights Year To Date Highlights About Dynacor Dynacor Group is an industrial ore processing company dedicated to producing gold sourced from artisanal miners. Since its establishment in 1996, Dynacor has pioneered a responsible mineral supply chain with stringent traceability and audit standards for the fast-growing artisanal mining industry. By focusing on fully and part-formalized miners, the Canadian company offers a win-win approach for governments and miners globally. Dynacor operates the Veta Dorada plant and owns a gold exploration property in Peru. The Corporation plans to expand to West Africa and within Latin America. The premium paid by luxury jewellers for Dynacor's PX Impact® gold goes to Fidamar Foundation, an NGO that mainly invests in health and education projects for artisanal mining communities in Peru. Visit for more information. Forward-Looking Information Certain statements in the preceding may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management's current expectations regarding future events and operating performance as of the date of this news release. View source version on CONTACT: For more information, please contact:Ruth Hanna Director, Investor Relations T: 514-393-9000 #236 E:[email protected] Website: Financial Communications Inc. Bettina Filippone T: (416) 644-2020 or (212) 812-7680 E:[email protected] Website: KEYWORD: LATIN AMERICA NORTH AMERICA PERU SOUTH AMERICA CANADA INDUSTRY KEYWORD: MINING/MINERALS NATURAL RESOURCES SOURCE: Dynacor Group Inc. Copyright Business Wire 2025. PUB: 05/20/2025 07:30 AM/DISC: 05/20/2025 07:31 AM
Washington Post
18-05-2025
- Science
- Washington Post
Congo's coltan miners dig for world's tech — and struggle regardless of who is in charge
RUBAYA, Congo — Nestled in the green hills of Masisi territory in Congo , the artisanal Rubaya mining site hums with the sound of generators, as hundreds of men labor by hand to extract coltan, a key mineral crucial for producing modern electronics and defense technology — and fiercely sought after worldwide.
Associated Press
12-05-2025
- Politics
- Associated Press
Armed group mounts double attack on artisanal mining site in Mali, leaving 3 dead and abducting 2
BAMAKO, Mali (AP) — An armed group attacked an artisanal gold mining site in southern Mali on Monday morning, a local elected official announced, the first such attack since a military government seized power in 2020. 'Early on Monday morning, terrorists carried out two attacks in the Narena commune. First, they attacked a shop belonging to Chinese nationals. They kidnapped two Chinese nationals and burned their heavy machinery used in gold mining,' Mamadou Kanté, deputy mayor of Narena, told The Associated Press. He said the fighters then attacked an artisanal gold-panning site nearby. Three people died: one Malian and two others from Ghana. The attack has not been claimed, but it bears the hallmark of the JNIM group, which is linked to al-Qaida and is present in the commune of Narena, about 100 kilometers (60 miles) south-west of the capital, Bamako. Mali is one of Africa's largest gold producers. In recent years, there have been concerns that profits from unregulated mining could benefit extremists active in the country. 'Gold is by far Mali's most important export, comprising more than 80% of total exports in 2021,' according to the International Trade Administration of the U.S. Department of Commerce. It says more than 2 million people, or more than 10% of Mali's population, depend on the mining sector for income. Artisanal gold mining is estimated to produce around 30 tons of gold a year and represents 6% of Mali's annual gold production. Mali has faced attacks from armed groups linked to al-Qaida and the Islamic State group in the greater Sahara for over 10 years. In 2020, a group of military officers staged a coup during a wave of protests against Mali's democratically elected president, promising to restore security. Mali's military rulers then cut ties with traditional partners, notably France and the European Union, who had troops in the country as part of the fight against extremists. Mali's military rulers then forged new links with Russia. However, according to analysts, attacks by armed groups have since increased.
