The carmaker will use a blockchain-based platform to trace supplies of cobalt from a Chinese-owned mine in the Congo for the batteries in its electric cars, in an effort to ensure they are not linked to human rights abuses.
Democratic Republic of the Congo Mining News
Barrick now trades as GOLD in New York and continues as ABX in Toronto.
The expected settlement is related to the company’s business activities in the Democratic Republic of Congo between 2014 and 2016.
The miner joined forces with international development organization Pact.
Experts believe the US firm could achieve $300 million in operating and cost savings from combining its mines in Nevada with those of the Canadian rival.
The combined miner plans to focus on Tier 1 assets, those producing at least 500,000 ounces of gold annually, with a mine life of more than 10 years and low costs.
The new Barrick, which will be listed in New York and Toronto, will own five of the world's 10 lowest cost gold mines and will be the world's top bullion producer by both value and output.
As a result of the latest stoppage at the Ivory Coast mine and the time it will take to bring it back on line and at full tilt, Randgold will have to review its 290,000-ounce gold output forecast for the year.
DRC's Kibali is moving from underground mining by contractors to owner-mining, as has already happened at the company’s Loulo mines in Mali.
Labour action has brought gold production to a halt.
Starting next year, it will demand firms that get at least 25% of their metal from small-scale mines in the DRC to be subject of a professional audit.
Congo's prime minister wants to immediately implement the new mining code without any concessions to industry demands that key provisions be amended.
Company said new technology will help the DRC mine achieve its 2018 production guidance of 730,000 ounces, despite challenges posed by the country's new mining code.
Recurrent industrial action by the workforce of a subcontractor it's jeopardizing Tongon's 290,000-ounce production forecast.
Electronics and car makers are racing to lock in supply agreements for cobalt amid fears of shortage.
Artisanal and Small-Scale Mining (ASM) has become a major of revenue for millions of people in about 80 countries worldwide, with more than 100 million people currently depending on the activity for their livelihoods. But at what costs?
Randgold boosted divvy to $2 a share, after a year of record production and soaring profits, but warned the good times may be over soon as it’s now facing demanding new regulations in Congo, one of its key jurisdictions.
Mine is on track to produce its target of 700,000 ounces of gold in 2018.
The LME has sent a directive to all suppliers asking them to detail how they guarantee “responsible sourcing” of the commodities they trade in the exchange.
Miner said full-year profit and output was on track despite a third-quarter dip, but its shares slid to a three-month low after its CEO did not rule out seeking arbitration over a tax dispute in Mali.
Ivanhoe boss transforms what could have been a set of exciting drill results into 43 holes of “global significance in the copper world”.
The government owes mining companies about $700 million in VAT reimbursements from before last year's suspension.
Company will make final decision on its development by mid next year.
Move comes 15 months after the country’s government halted the planned revision amid opposition from mining companies and low commodity prices.
The Morila operation continues to deliver value in its post-mining phase while progressing plans to develop the site into a commercial agricultural hub after its closure in 2019, Randgold Resources chief executive Mark Bristow said at an on-site media briefing today.