The Gold Mining in the Democratic Republic of Congo is set to restart after almost 50 years. Gold was first discovered at Namoya in 1931 and production from alluvial operations continued through to 1947. Congo was the world's fifth-largest gold producer in the 1960s until civil disturbance, due to the DRC's newly achieved independence from Belgium in 1960, and resulted in operations being closed and expatriates leaving the country. The gold mines were mainly occupied by artisanal miners from the 1990s when a lack of investment saw the industry collapse. Invasion from eastern neighbors Uganda and Rwanda resulted in military groups seizing control of many of the operations around the same time.
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Banro, a Toronto-based gold producer, is currently developing four gold properties comprising of 13 Exploitation Permits, with mining licenses, in the South Kivu and Maniema Provinces of the DRC. These properties, totaling 2,616 square kilometers, occur along the 210 km Twangiza-Namoya gold belt. These permits cover all the major, historical producing areas of Twangiza, Lugushwa, Namoya and Kamituga where approximately 2.4 million ounces of gold were reportedly produced in the past from alluvial and hard rock sources.
Banro started the Twangiza mine last year, the first new gold operation in Congo since independence from Belgium in 1960. The Twangiza gold deposit was discovered by Miniere des Grande Lac (MGL) in the 1950s. The company followed the occurrence of alluvial gold deposits upstream from the Mwana River to the present-day Twangiza deposit. In 1996, Banro acquired control of the Twangiza property. Twangiza is the most advanced of Banro's four projects, with a growing deposit that currently comprises measured and indicated resources of 5.60 million ounces of gold and inferred resources of 400,000 ounces. Twangiza Project is believed as having at least an eight year mine life. Banro's Twangiza could produce 120,000 ounces in its first full year of production
AngloGold, the world's third largest producer, and Randgold Resources aims to produce first gold from its Kibali project in the remote northeast of Democratic Republic of Congo in July 2013. The site reportedly has 13.93-million ounces of measured and indicated gold. Randgold's Kibali project, in Orientale Province, is a joint venture between Randgold and AngloGold Ashanti, which have 45% share each, and state-owned gold company OKIMO... The Kibali gold project is located in a remote corner of DR Congo, close to the Ugandan border. To develop it, Randgold has had to build a 180km local gold buyers near me (112-mile) road eastwards to Uganda. The region is near an area where Ugandan rebel group the Lord's Resistance Army (LRA) has operated, but the company says the local police and security forces have ensured the project can go ahead. Production is scheduled to start at the end of next year and could average 600,000 ounces a year
The country has huge mineral resources, much of which remains untapped. Gold's advance over the past decade has made taking on projects in such higher-risk countries worthwhile. The metal gained for each of the past 11 years, climbing to a record $1,921.15 an ounce last year.
Gold is a precious and popular investment nowadays. It is popular especially to the rich investor, so they have to find which gold dealer is reliable and has a reputable name. But you have to know which gold type of bullion you want to buy. It can be in bar form, gold coins, gold exchanges or even gold ETFs. For our purposes lets focus on buying physical gold meaning bars and coins.
You have to be specific on what kind of gold you want to buy. There is some jewelers who deal in gold bullion. Sometimes you can find gold dealer down the road, etc. And some can be found online.
Here are some tips on how to buy gold:
- So first you have to know what kind of gold you want and for what purpose.
- Second, you must know the current price of gold you want to buy.
- Third, research reputable gold dealer and what kind of gold bullion they are dealing.
- Fourth, you have to be careful in choosing a gold dealer that you can trust.
Bear in mind that buying gold does not involve small amount of money, but big amount of money that you need to release for this kind of investment. So, always be careful when you invest gold bullion.
The safest place where you can buy gold is to find the reputable dealer either online or not. You can also buy gold bullion through auctions which is a bit trickier unless you know what you are doing. Not all gold bullion sold at auction are an excellent investment.
You can also purchase gold from mints. Most of the mints are government owned and it is control by a certain standard in which they sell direct to the public. For sure they have excellent or fine gold bullion. So you have nothing to worry when it comes from the mints.
If you want to invest in gold bullion, be sure that you know the current price in order for you to compare which dealer deals with a lower price. If you are busy and don't have enough time to look in the newspaper, go to see it online through internet. It is easy and more convenient to do in your own time.
There is also lots of dealers of gold bullion which you can find it through the internet. They have their website in the internet where you can browse. If you want to know their price, you can log on in their website. There are many different kinds of gold dealers on the internet. All you have to do is choose. But remember to compare their prices.
Be sure that the gold dealers in the internet are reputable and reliable. To keep you away from fraudulent dealers of gold, always stay safe by asking some of your friends who have the same investment as yours. Or at the very least read some reviews.