Magnam Tara’s Post

Thank you Anthony Smare, President of PNG Chamber of Resources and Energy (#PNGCORE), formerly PNG Chamber of Mines and Petroleum, for providing insightful commentary on the National Gold Corporation (Project and Shareholders Agreement) Bill 2022. It is best that the Bill, in its current form, should not be presented during the National Parliament Session in May 2024. This is to allow additional, better and refined consultations so that all the stakeholders are on the same page and doubts are removed. In addition, the "revised" Bill should authorize 100 % PNGean ownership of gold refining and sales. Furthermore, it is best if Mineral Resources Authority (#MRA) is the Implementing Agency, which can be supported by partner agencies such as Provincial Governments, Internal Revenue Commission (#IRC), Bank of PNG (#BPNG), Commercial Banks and #PNGCORE. #NationalGovernment #PNG #RefineryHoldingsPteLimited #Singapore #ShareholdersAgreement2021 #NationalGoldCorporationBill2022 #NationalGoldCorporation #NationalGoldAuthority #NationalGoldMint #NationalGoldBank #NationalGoldPolice #StateEquityCorporation #100% #PNGOwnership #GoldRefiningOperation

🌍 Saudi Arabia Invests in Zambian Copper 🌍 Saudi Arabia’s Ma’aden has teamed up with First Quantum Minerals to invest in Zambia’s copper sector, securing vital minerals for its industrial and energy transition goals. This highlights Zambia’s growing importance in global copper supply. ⚡🔋 Read more: https://lnkd.in/dF-XrdRP #CopperMining #Zambia #SaudiInvestment #EnergyTransition #MiningNews

This 90-minute session will dissect the impacts of mineral taxation regimes and mining fiscal policy approaches in Africa over several decades. We'll also discuss proposals for reform or improvement to maximize the benefits derived by the continent from its vast mineral resources. #ALSF #AMLA #Mining #MI24

🚨 Big Update in Namibia’s Gold Mining Sector! 🚨 Osino Resources has ruled out a local gold refinery for its Twin Hills project due to economic and regulatory roadblocks. Instead, gold will be refined at the renowned Rand Refinery in South Africa. With an expected output of 200,000 ounces annually in the first four years, Twin Hills is set to reshape the industry by 2027. 🌍✨ Why does this matter? The decision highlights the critical intersection of economics and regulation in Africa’s mining landscape. Stay tuned for more on how this could shape the future of Namibian gold exports! 💰📈 #GoldProduction #MiningNews #OsinoResources #TwinHillsProject #NamibiaMining #GoldRefinery #RandRefinery #GoldExport #MiningEconomics #ShanjinInternational #AfricanMining #PreciousMetals #GoldPrices #BCS #RegulatoryChallenges

Investment in BC mineral exploration broke another record in 2023, further cementing BC's reputation as a top jurisdiction. Amarc $AHR.V | $AXREF will be among the leaders in this trend, advancing its high potential BC #copper-#gold districts in 2024! https://hubs.li/Q02fkVGD0

🚨 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 🇵🇬✊

Global gold production over the years ⛏ 👑 South Africa's grip on the gold crown has loosened considerably. Once an undisputed champion, the nation's gold production has taken a tumble. One key challenge lies in the nature of the resource itself – gold is finite. Easily accessible near-surface deposits were quickly exhausted, forcing miners deeper underground. Extracting gold from these extreme depths (3-4 KMs) requires substantial investments in infrastructure, ventilation, and cooling systems. These high costs make it increasingly difficult to make a profit. The high cost of deep-level mining has led major mining companies to re-evaluate their South African operations. Some, like AngloGold, have opted to leave entirely. Others, like Gold Fields & Sibanye Stillwater, have either minimised their presence or reduced capital expenditure on South African gold projects. A 2023 PWC report paints a grim picture. With an estimated 68 million ounces of gold reserves remaining, the South African gold industry might only have 27 years left. Many mines are expected to close even sooner, within the next 20 years. 🕰 Written by Marvin Matabane Source: VGraphs Curious about the forces shaping South Africa's economy & financial markets ⚡? Follow us at University of Johannesburg Investment Society (UJInvest) for more insights!💡 #finance #markets #stockmarket #economy #southafrica #jse #investments #gold #mining

The development and construction of 17 proposed critical mineral mines in BC means $36 billion in private sector investment, $23 billion in labour income and $11 billion in tax revenue.   However, according to Michael Goehring, MABC President and CEO, decisive action and execution are required to make sure BC is positioned as a leading global supplier of critical minerals where new projects have a timely and predictable pathway to development.   Read the full article here ➡️ https://lnkd.in/ghyAsqrH #CriticalMinerals #BCMining #bcpoli

Is this Co. Exploring and Producing Gold in One of the World's Most Promising Regions? https://ow.ly/lytF50ThONb As Sanu Gold Corporation explores its three strategically located gold projects, expert John Newell explains why he thinks it is well-positioned to capitalize on Guinea's untapped potential and the growing global demand for gold. $SANU:CSE $SNGCF #goldstocks

Namibia Critical Metals Sells Non-Core Assets in Namibia to Sylla Gold Corp. - Yahoo Finance: Namibia Critical Metals Sells Non-Core Assets in Namibia to Sylla Gold Corp.  Yahoo Finance