Magnam Tara’s Post

West Africa is claiming the spotlight, transforming the landscape of gold production on the continent. Today, the region accounts for 33% of Africa’s gold production. This evolution speaks volumes about West Africa’s rich geographic potential and the favorable economic conditions that it a magnet for investors and stakeholders. With Mali among the top producers, we're proud to contribute to a region that's now shaping the continent's gold narrative. #GoldMining #WestAfrica

if you not know Gold Bullion Corporation is identified as a downstream process business and project where a gold mint refinery process gold into purified and refined gold mint and stored for exporting..... it is identified as a Foreign Direct Investment project to be established in Papua New Guinea.... The state government should negotiate with the investors and developers like any other investment deal to accept a good deal to benefit Papua New Guinea people, stakeholders and businesses...... We should never settle for a join venture investment deal this is where the investor has the financial capacity to influence our decision to accept them to dictate and invest on our shores to capitalise on extracting our precious minerals and metals .... We should negotiating and arguing for the investor and developer to settle for Build Own Operate Transfer Deal and contract ( Foreign Direct Investment deal). They come to our shores finance, build ,own and operate the project on our land and when their contract expires, they transfer the full or partial ownership of the proposed project negotiable to PNG people and the PNG Government ..... I believe this Foreign Direct Investment Deal and contract achieves the vision " Taking Back PNG "

KEFI Gold and Copper said it has formally launched the Tulu Kapi Gold Mines project in Ethiopia after a decision by the board of local subsidiary TKGM, which includes representatives from the Ethiopian Federal and Oromia Regional Governments. “This decision to launch Tulu Kapi follows the deployment of dedicated site policing and the conditional confirmations that quickly ensued from all members of the project's finance syndicate.” An updated corporate presentation will be uploaded to the company website, KEFI said, and includes a summary of Early Works, Major Works, Key Milestones, Finance Plan and Key Economic Metrics. Harry Adams, KEFI's executive chairman commented: “Our launch timing is fortuitously coinciding with the improved conditions in Ethiopia and all-time high gold prices. "We can now proceed to safely complete our Early Works on schedule and satisfy all conditions precedent to drawdown full project finance as outlined,... More at #Proactive #ProactiveInvestors http://ow.ly/NOCm105tJ8c

Ever wondered about the cost of gold smelting in Africa? Discover the hidden treasures of the continent as we dive into the fascinating world of gold refinement. The cost of gold smelting in Africa can vary depending on various factors such as the location, scale of operation, equipment used, and market conditions. It is recommended to contact local gold smelting facilities or consult with experts in the field to get accurate and up-to-date information on the cost of gold smelting in Africa.

How to Avoid Dutch Disease? The two primary strategies that can help solve Dutch disease are listed below: 1, Deceleration of domestic currency appreciation The deceleration of currency appreciation is an easier and more viable strategy to prevent the adverse effects of Dutch disease. It can sometimes be achieved by smoothing the spending of revenues earned from the export of natural resources. One of the most common methods to do so is the creation of a sovereign wealth fund. Many developed and developing countries, including Australia, Canada, Norway, and Russia, manage large sovereign wealth funds. Sovereign wealth funds aim to stabilize the inflows of capital into the economy to prevent it from overheating and causing significant currency appreciation. Excess revenues can be spent on education or infrastructure that will help to diversify the economy. 2. Diversification of the economy The diversification of the economy is a strategy that can almost eliminate the negative impact of Dutch disease on the economy. Economic diversification can be achieved by subsidizing lagging sectors of the economy or establishing tariffs to support domestic producers. Source: https://lnkd.in/gre3u4A5 #Sovereignwealthfund #Economicdivwrsification

Dr. Clement Waine shares thought-provoking views on the Gold Bullion Bill in Papua New Guinea, highlighting the country's historical relationship with gold production and the proposed changes. A must-read for those interested in the economic landscape of PNG. Read more: https://lnkd.in/gzmmfG_t #png #pngnews #papuanewguinea #portmoresby #papua #GoldBullion #PapuaNewGuinea #EconomicInsights

Find the copy of the draft of the National Gold Corporation Project and Shareholders Agreement between the Independent State of Papua New Guinea and the Refinery Holdings PTE Ltd in the attachment below.

🚨 Proposed Gold Bill Threatens PNG Economy! 🚨 The National Gold Corporation Bill 2022 poses a grave threat to Papua New Guinea's mining sector and overall economic stability. Here's why it matters: 1. Gold Monopoly: Consolidating control into the hands of a small Singaporean company stifles competition, undermines fair trade principles, and erodes economic sovereignty. 💰 2. Impact on Alluvial Miners: Local miners face losing the freedom to sell gold at competitive prices, potentially selling exclusively to this foreign-owned entity at below-market rates. 😞 3. Undermining Existing Contracts: Major mining operations risk contract invalidation, endangering their financial sustainability and deterring future investments. 📉 4. Overreach of Power: Granting unprecedented authority to a foreign entity marginalizes state agencies and introduces a private "Gold Police" force, raising concerns of abuse and overreach. 🚓 5. Fiscal Responsibility at Stake: Providing unconditional state guarantees for a foreign-owned corporation compromises fiscal responsibility and tarnishes international reputation. 💼 Act now to protect PNG's interests and ensure a fair, transparent future for the gold industry. #ProtectPNG #GoldThreat #NowYouKnow 🇵🇬✊

It's not convincing at all because the claims lack substance and appear subjective. What does make objective sense is the perspective shared by the PNG Law Society and PNG Chamber of Resources & Energy. If this bill truly benefits Papua New Guineans, why is there a lack of transparency and widespread consultation in its drafting? The apparent secrecy surrounding this bill raises valid concerns about its true impact and intentions. In my view, the heightened scrutiny of this bill compared to others in the past reflects the quality leadership we have now, which is unlike what we've experienced before.

Pakistan plans to sell a 15% stake in the Reko Diq project to Saudi Arabia after Barrick Gold Corporation declined to increase its share. This move reduces Pakistan's overall shares from 50% to 35%, while Balochistan's stake remains at 25%. Consequently, the federal government's share will drop from 25% to 10%, making Pakistan a minority shareholder in the project. Officials are confident that being a minority shareholder will not pose significant challenges, based on Pakistan's previous joint venture experiences. Existing clauses in the agreement prevent Barrick Gold from making significant decisions unilaterally, thereby providing Pakistan with considerable leverage. Saudi Arabia's involvement is anticipated to enhance Pakistan's investment climate amid declining investment ratios. Furthermore, Saudi Arabia aims to increase its stakes in more Reko Diq blocks, signaling robust interest in the project. A formal announcement regarding the stake sale is expected soon, following the completion of a valuation report. The signing of the Free Trade Agreement (FTA) with the Gulf Cooperation Council (GCC) is deemed crucial, as it provides arbitration rights. Pakistan has also accepted recourse to international forums in case of investment disputes. Negotiations with Saudi Arabia have progressed well, indicating a positive outcome. Visit https://lnkd.in/dYepVRg8 to know more about us #Pakistan #SaudiArabia #RekoDiq #Investment #Mining #BarrickGold #Balochistan #JointVenture #FTA #GCC #EconomicGrowth #InvestmentClimate