Mali Court Rejects Appeal to Release Four Barrick Staff
Its refusal comes as Mali's ruling junta placed Barrick's Loulo-Gounkoto complex under state control for six months. The junta earlier this month seized about a ton of gold from the biggest gold mine in Africa potentially for sale by the provisional administration to finance operations at the mine.
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News24
40 minutes ago
- News24
Myanmar junta air strike on ruby mine hub kills 13
A Myanmar junta air strike on Mogok killed 13 people, including civilians like a monk and a father and son. Civil war has raged since the 2021 military coup, with rebel forces seizing territory like Mogok, a ruby mining hub. The junta plans December elections but faces boycott and criticism as opposition groups call it a 'fraud' to maintain power. A Myanmar junta air strike on a rebel-occupied ruby mining hub killed 13 people on Saturday, according to a resident and a spokesperson for an armed opposition group. Civil war has consumed Myanmar since the military seized power in a 2021 coup, sparking resistance from pro-democracy guerrillas who found common cause with long-active ethnic armed groups. Their scattered forces initially struggled to make headway, but a combined offensive starting in late 2023 seized swathes of territory, including the town of Mogok - the centre of the ruby trade. Myanmar is rich in precious stones and rare earth elements coveted by all factions and sold off, mostly to neighbouring China, to boost war chests. A junta spokesperson could not be reached for comment. However, a local who declined to be named for security reasons said the strike took place around 08:15 am (0145 GMT), killing seven instantly, with six dying later of their wounds. READ | Myanmar military offers new truce in bid to 'protect the towns and people's lives' He said among the dead were a Buddhist monk collecting alms and a father and son who were riding the same motorbike. "A car passing through the area was hit, too," he added. "Seven people were wounded, including the driver." A spokesperson for the Ta'ang National Liberation Army, which has occupied Mogok since last summer, matched that death toll but gave a figure of 14 wounded. "It was in the morning time when the airstrike hit a public area," said spokesperson Lway Yay Oo. There were a lot of people walking in the street; therefore, a lot of people were killed. The military was initially backfooted by the rebels' combined offensive but has enacted conscription to boost its ranks. Its troops recently retook several key settlements in central Myanmar, including the gold mining hub of Thabeikkyin, which it seized late last month after a year-long battle. The junta on Thursday ended the state of emergency it had declared after toppling the government of Aung San Suu Kyi more than four years ago, and has touted elections in December as an off-ramp for the conflict. However, with Suu Kyi still jailed, opposition groups, including ousted lawmakers, are boycotting the poll. A UN expert in June described the exercise as a "fraud" designed to legitimise the junta's continued rule.
Yahoo
an hour ago
- Yahoo
Newmont (NEM) Secures Akyem Lease Ratification With US$770 Million Divestiture Proceeds
Newmont recently announced that the Ghanaian Parliament ratified the renewal of the Akyem East Mining Lease, with Zijin Mining Group paying $100 million as part of Newmont's divestiture program expected to generate $3.1 billion this year. This financial boost aligns with the company's capital priorities of debt reduction and shareholder returns. Over the last quarter, Newmont's share price experienced a 21% increase. Despite market volatility influenced by tariffs and weak jobs data, Newmont's decisive divestiture strategy and substantial after-tax proceeds may have bolstered its share price gains, contrasting broader market declines. Every company has risks, and we've spotted 2 weaknesses for Newmont (of which 1 is a bit concerning!) you should know about. These 18 companies survived and thrived after COVID and have the right ingredients to survive Trump's tariffs. Discover why before your portfolio feels the trade war pinch. The recent approval of Newmont's Akyem East Mining Lease renewal and the substantial capital injection from its asset divestiture program should reinforce the company's commitment to capital priorities such as debt reduction and enhancing shareholder returns. Over a three-year period, Newmont's total return, which includes share price appreciation and dividends, was 54.49%. This reflects steady long-term growth, despite being more impressive in the recent quarter with a 21% increase. Over the past year, Newmont's performance outpaced both the US Metals and Mining industry, which returned 13.4%, and the broader US market, which returned 17.7%. The divestiture proceeds of US$3.1 billion may bolster Newmont's revenue and earnings trajectory, feeding into ongoing portfolio optimization and potentially elevating operational efficiency. Analysts anticipate revenue growth of 2.7% annually, supported by high-margin projects and strategic asset focus. However, forecasts indicate a decline in earnings of 2.6% per year over the next three years, suggesting closer attention to cost management and project execution risks may be warranted. With the share price at US$62.59, it's trading at a 12.42% discount to the analyst consensus price target of US$70.36, indicating potential room for growth if management successfully mitigates operational challenges and leverages the favorable economic factors continuing to support gold prices. Understand Newmont's track record by examining our performance history report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NEM. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
an hour ago
- Yahoo
HIVE Digital co-founder Frank Holmes says sanctioned countries like Iran are secretly mining Bitcoin
HIVE Digital co-founder Frank Holmes says sanctioned countries like Iran are secretly mining Bitcoin originally appeared on TheStreet. Hive Digital (Nasdaq: HIVE) co-founder Frank Holmes said that several countries, including those under sanctions, may be secretly mining Bitcoin to generate revenue — and hinted at how geopolitics is shaping global mining operations. 'You talk about the fact that you hodl your Bitcoin, which for those who are listening means basically, hold on for dear life,' TheStreet Roundtable host Scott Melker said, pointing out Hive's long-term BTC strategy. Holmes affirmed that commitment — with one caveat. 'Yes, we believe that purchasing power is so important to have and we will hold on and hold on as much Bitcoin as we can,' Holmes said. 'Sometimes we've had to sell... like how we quadrupled basically our profile at Paraguay because Bitfarms was selling so we could fast track. So we had to sell some Bitcoin to do that.'Still, Holmes sees the value returning through boosted production. 'It's like seven hundred and sixty thousand a day in revenue and it's going to a million three as we increase our production.' 'Axis of Evil' mining Bitcoin, Holmes alleges He also revealed that Bitcoin mining is being used by governments not typically associated with crypto-friendly policies — citing a striking example. 'When Israel bombed Iran and America came in and dropped the B2 special bombs, the difficulty for Bitcoin mining fell by 15%,' Holmes said. 'Why is that? Because the Iranian military were basically illegally mining Bitcoin to get US dollars and the power stations got hit.' That connection between global conflict and hash rate drop reveals, Holmes said, a deeper trend: 'All these other countries are doing everything if they can't get US dollars, they're going to mine Bitcoin.' Melker then asked: 'Do you think that a lot of nations are mining Bitcoin that we haven't heard about yet?' 'Yes, I do,' Holmes replied. 'It'll come out and it's a large source of revenue for the Axis of Evil. There's no doubt about that.'He added that under Trump, Bitcoin mining in America is only expected to grow — especially with allies like Paraguay. 'Paraguay is pro-America... very different than Colombia... or Venezuela,' Holmes said. 'We're excited to be in a country that is aligned with America's vision.' As of this week, Hive Digital surpassed 14 EH/s in Bitcoin mining capacity, generating $315 million in annualized revenue. It now aims to hit 25 EH/s by Thanksgiving — a move that could place it among the most efficient Bitcoin miners globally. EH/s stands for exahashes per second, a measure of computing power used in Bitcoin mining. One exahash equals 1 quintillion (1,000,000,000,000,000,000) hashes per second. The higher the EH/s, the more powerful the miner — and the better their chances of earning Bitcoin block rewards. HIVE Digital co-founder Frank Holmes says sanctioned countries like Iran are secretly mining Bitcoin first appeared on TheStreet on Aug 1, 2025 This story was originally reported by TheStreet on Aug 1, 2025, where it first appeared.
