May 17, 2020

Koza Altin and Lonmin to Explore for Gold and Silver in Northern Ireland

Koza Atlin
Europe
Mining Sites
Gold
Admin
2 min
Koza Altin to being gold and silver mining in Northern Ireland
Turkeys most significant gold explorer and producer, Koza Altin, is to investigate the magnitude of reserves to be found in Northern Ireland.The gold mi...

Turkey’s most significant gold explorer and producer, Koza Altin, is to investigate the magnitude of reserves to be found in Northern Ireland.

The gold mining company said it has signed a memorandum of understanding with South African platinum miner Lonmin’s Northern Ireland branch which permits the exploration of gold and silver across the UK territory.

There has been mining in the Irish border region across counties Armagh and Monaghan for centuries, but the most precious metals were missed, and until recently optimism over the existence of gold deposits had disappeared.

However, at the start of this year a six-year air and land survey concluded that at least 15 million ounces exist in one license area alone on the border, grabbing the attention of exploration companies.

There are other working mines in Northern Ireland, for instance the Canadian company Dalradian has an operation in the Omagh area of County Tyrone, and politicians are keen to get more operators on board and sell off licenses to help boost their economic outlook.

Koza Atlin reported in April that it had set up a wholly-owned subsidiary in Britain to organise and undertake mining activities abroad.

It is the leading gold producer in Turkey, with 56 operating licenses and a further 339 exploration licenses covering the Aegean and Marmara regions, the Black Sea region and Central and Eastern Anatolia.

In the first quarter of this year it produced 96 koz of gold from its six operating mines. 

Share article

Dec 16, 2020

Zimbabwe targets £8.8bn mining industry by 2023

Zimbabwe
exploration
Gold
Dominic Ellis
3 min
Government plans to fast-track exploration, evaluation and digitalisation of selected reserved mining areas
Government plans to fast-track exploration, evaluation and digitalisation of selected reserved mining areas...

Zimbabwe’s government plans to fast-track exploration, evaluation and digitalisation of selected reserved mining areas under the Ministry of Mines and Mining Development as part of wider measures to achieve a £8.8 billion mining industry by 2023, according to a senior government minister.

Information Minister Monica Mutsvangwa said other plans include stopping the issuance of special grants in the reserved areas under the Ministry of Mines and Mining Development until the exploration and evaluation is complete and a robust value addition program for diamonds is implemented. 

Mutsvangwa was speaking at a post-cabinet media briefing on December 15.

She adds that the issuance and renewal of special grants for energy should also be based on the financial and technical capacity to value add all types of coal, as well as for ideal exploration of Coal Bed Methane.

For renewal of special grants, consideration should take into account the period the Special Grant has been held as well as plans with milestones for value addition of the special grant, Mutsvangwa says. She adds that the Zimbabwean government expects gold to drive the mining sector in order to achieve the ambitious target, with the precious metal expected to contribute approximately £2.96 billion to the overall target.

Mining is one of Zimbabwe’s major contributors to its economy, alongside agriculture, which is the mainstay. The mining sector accounted for more than 60 percent of the country’s foreign currency receipts in 2019, and contributed around 16 percent to national Gross Domestic Product, the Chamber of Mines says.

The country’s mining industry is focused on a diverse range of small to medium mining operations. The most important minerals produced in Zimbabwe include gold, asbestos, chromite, coal and base metals.

Zimbabwe expects its economy to expand by 7.4 percent in 2021 from a projected contraction of 4.5 percent this year, due to the effects of drought and the COVID-19 global pandemic.

When presenting the 2021 National Budget in November this year, Finance and Economic Development Minister, Professor Mthuli Ncube, said that the mining sector is projected to rebound by 11 percent next year after surviving a COVID-19 induced shock that saw the sector contract by 4.7 percent in 2020. In September, mining bans in national parks were introduced, according to news agencies.

He added that the National Budget would allocate £1 billion towards the operations of the ministry for planning, promotion and exploration, data capturing, and automation, among other key mining processes.

Other factors necessary for the achievement of the £8.8 billion target include a stable macroeconomic environment, policy consistency, and availability of long-term capital to fund mining projects along the entire mineral value chain, the minister said. 

Stopping "illicit financial flows" from gold smuggling is another key issue to address, according to media reports.

Share article