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23.10.2019

Barrick Gold partners with Tanzania to create Twiga Minerals

After making headlines earlier this year following its mega merger with Randgold Resources, international gold miner Barrick Gold has entered into a new deal, this time with the government of Tanzania. The deal was born out of an agreement to settle all disputes between the government of Tanzania and several companies that were previously owned by Acacia Mining. Barrick now manages the assets once controlled by Acacia, which was delisted from trading in mid-September. The partnership between Barrick and the government will converge in a new operating company, dubbed Twiga Minerals; Twiga is the Swahili word for giraffe. The newly established Twiga will manage the Bulyanhulu, North Mara and Buzwagi mines. For its part, the government will acquire a free carried shareholding of 16 % in each of the mines and will receive half of the economic benefits from taxes, royalties, clearing fees and participation in all cash distributions made by the mines and Twiga.

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17.10.2019

EBRD supports gold mining in Mongolia

EBRD (European Bank for Reconstruction and Development) support for a mining investment in southwestern Mongolia will create jobs and ensure the highest possible environmental standards at the Khundii Gold project in the Bayankhongor region of the country. The Bank is providing a US$ 5 million convertible loan to the Erdene Resource Development Corporation of Canada, a company that is listed on the Toronto Stock Exchange and the Mongolian Stock Exchange and is active in precious and base metals exploration and development in Mongolia.

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17.10.2019

Nyrstar to shut down Langlois zinc-copper mine

Swiss miner Nyrstar will cease production at its Langlois mine in December due to geological and budget analysis that shows it is “uneconomic.” “This is due to rock conditions having deteriorated to the point where the company considers it uneconomic to continue to operate Langlois to mine zinc and copper ore next year,” reads a press release from the company published on October 14. While Nyrstar will cease zinc and copper ore extraction at the property, it is looking to sell the mine to another firm that may be interested in the asset. Last year, Langlois, which is located in Quebec, produced 24,000 t of zinc in concentrate. Nyrstar estimates that about 240 members of staff will be affected by this decision as the company undergoes the dismissal process with local labor unions.

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19.09.2019

BMWi-Geschäftsanbahnungsreise in die Türkei: Bergbau und Rohstoffe mit Fokus auf nachhaltigen Kohlebergbau

enviacon international organisiert im Auftrag des Bundesministeriums für Wirtschaft und Energie (BMWi) im Rahmen des Markterschließungsprogramms für KMU eine Geschäftsanbahnungsreise in die Türkei zum Thema Bergbau und Rohstoffe mit Fokus auf nachhaltigen Kohlebergbau.

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