The Brazilian government plans to grant 502 mineral exploration concessions to attract more investment in the industry and diversify the country’s mining production. These areas are rich in construction materials such as sand, gravel and gypsum, but the government also intends to grant other mineral rights.
Barrick sells rights to Bullfrog Gold
Bullfrog Gold on Tuesday announced a transaction to acquire rights in Nevada from gold major Barrick Gold, along with plans for a C$22-million financing to be completed through Augusta Investments.
Gold reserves growth dwindling globally
Research agency Standard & Poor’s (S&P’s) Global Market Intelligence says major gold miners globally have seen their economically mineable gold reserves decline over the last decade, owing to a lack of new discoveries and a shift away from growth strategies to margin preservation.
Barrick CEO faces stark test in fight for Papua New Guinea mine
A standoff over a remote gold mine in Papua New Guinea threatens Barrick Gold CEO Mark Bristow’s streak of resolving thorny disputes with host governments, in the first major test he has faced outside his home patch of Africa.
Barrick, the world’s second-largest gold producer, lost a key court challenge last week over rights to the Porgera gold mine. PNG Prime Minister James Marape in April refused to extend Barrick’s lease for the requested 20 years and instead gave the lease to a State-owned mining company Kumul Minerals Holdings.
