With new refinery, Mali aims to process all locally mined gold domestically
Submitted by admin on Tue, 2025-06-17 09:28 Section: Daily DispatchesMali Starts Construction of Russia-Backed Gold Refinery
By Tiemoko Diallo and Idrissa Sangare
Reuters
Tuesday, June 17, 2025
BAMAKO, Mali -- Mali began on Monday construction of a new Russia-backed gold refinery, which the West African country's military leader said would take it closer to asserting control over its natural resources.
The 200-ton capacity facility, in which Mali has a controlling stake, will be built in partnership with Russia's Yadran Group and a Swiss investment company.
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Many exporters no longer want dollars, U.S. bank executive says
Submitted by admin on Tue, 2025-06-17 09:18 Section: Daily DispatchesBy Cater Johnson
Bloomberg News
via The Edge, Petaling Jaya, Malaysia
Tuesday, June 17, 2025
When Paula Comings, the head of currency sales for U.S. Bancorp, talks to U.S. importers, she increasingly hears the same message: Their foreign counterparties no longer want to be paid in dollars.
Instead, they ask for settlement in euros, Chinese renminbi, the Mexican peso, or the Canadian dollar, looking to limit their exposure to further swings in the greenback.
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Central banks favor gold over dollar for reserves, survey finds
Submitted by admin on Tue, 2025-06-17 09:06 Section: Daily DispatchesFrom Reuters
Tuesday, June 17, 2025
LONDON -- Central banks expect their gold holdings as a proportion of their reserves to increase over the next five years while expecting their dollar reserves to be lower, a survey by the World Gold Council showed.
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Guanajuato Silver Is Reactivating Silver and Gold Mines in Mexico
Ghana has lost billions to gold smuggling, links to UAE, report says
Submitted by admin on Mon, 2025-06-16 19:47 Section: Daily DispatchesBy Maxwell Akalaare Adombita
Reuters
Monday, June 16, 2025
DAKAR, Senegal -- Ghana is losing billions of dollars in revenue annually to smuggling from its booming artisanal gold mining sector with much of the gold flowing to the United Arab Emirates, according to a report by nonprofit Swissaid.
The report found a staggering 229-metric ton trade gap, equivalent to $11.4 billion, between Ghana's gold exports and corresponding imports over just five years, with most of the smuggled gold ending up in Dubai.
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'Fiat is a fraud': Ricardo Salinas says bitcoin and gold are the only way out
Submitted by admin on Mon, 2025-06-16 19:17 Section: Daily DispatchesBy Jeremy Szafron
Kitco News, Montreal
Monday, June 16, 2025
Mexican billionaire Ricardo Salinas says the fiat money system is collapsing under the weight of its own contradictions, and that bitcoin and gold remain the only lifelines for savers and investors.
"Fiat money is a fraud," Salinas said in a new interview with Kitco News. "It's a scam. It's fake money. And it's coming to an end."
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Mali court deals blow to Barrick Mining in dispute over gold project
Submitted by admin on Mon, 2025-06-16 13:42 Section: Daily DispatchesBy Aanu Adeoye
Financial Times, London
Monday, June 16, 2025
A court in Mali has appointed administrators to reopen a large gold mine in the country against the wishes of its owner Barrick Mining, escalating a stand-off between the Canadian company and the west African country’s military rulers.
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