According to a report by Mining Weekly citing Reuters, Burkina Faso announced on Wednesday that it had completed the transfer of five gold mine assets to the state-owned mining company, marking a temporary conclusion to its efforts to tighten control over mineral resources since August last year. Like its neighboring countries, Mali and Niger, Burkina Faso has strengthened its control over resources since revising its mining code last year. The country established the Société de Participation Minière du Burkina (SOPAMIB) as a vehicle to own, manage, and operate strategic mineral assets. The five assets transferred to the country include two operating gold mines and three exploration licenses, all owned by subsidiaries of Endeavour Mining and Lithium Corporation, namely Wahgnion Gold, SEMAFO Boungou, Ressources Ferké, Gryphon Minerals Burkina Faso, and Lilium Mining Services Burkina Faso. The suspension of the agreement to transfer Endeavour's assets to Lilium Mining Services compelled Burkina Faso to intervene. The decree stated, "This recovery aligns with the country's policy on the sovereignty of mineral resources, aiming to optimize their development for the benefit of the people." Burkina Faso is Africa's fourth-largest gold producer, with gold output exceeding 57 mt in 2023. The country plans to continue advancing the nationalization process, with its government stating that this move will bring more revenue to the state, especially following a 27% surge in gold prices this year. However, this reform has sounded the alarm for Western investors, including IAMGOLD and Nordgold from Canada, as well as West African Resources Ltd. from Australia.

Zhaoyuan in Shandong Province, China's county with the highest "gold content," saw its total output value of the gold industry exceed 100 billion yuan last year, ranking first among all county-level cities nationwide. The region has established an entire gold industry chain, spanning from upstream exploration and mining, midstream smelting and processing, to downstream design and retailing. Amidst the current scenario where gold prices have repeatedly hit new historical highs, the city exudes an air of opulence. Recently, a reporter from Cailian Press visited this small city and engaged in discussions with numerous individuals involved in the local gold industry chain to understand their perspectives on gold price trends, the situation of upstream reserve and production increases, the recent developments in midstream smelting and processing, as well as the new trends emerging in the "time-honored" downstream gold jewelry sector. Upstream: Reserve and Production Increases in Progress The Jiaodong region, where Zhaoyuan is located, is China's largest gold ore concentration area, with proven gold resources exceeding 5,800 mt, accounting for 35% of the country's total reserves. Notable ore-controlling faults in the region include the Sanshandao Fault, Jiaojia Fault, Zhaoping Fault, and Jinniushan Fault. Among them, Zhaoyuan's gold resources are mainly distributed within the fault structures of the Zhaoping Fault Zone, with the Linglong ore field in the north being a world-class ore field with reserves exceeding 1,000 mt. Currently, Zhaoyuan boasts two gold mines under active exploitation that rank among China's top ten gold mines. One of them, the Linglong Gold Mine, belongs to Shandong Gold Group, while the other, the Xiadian Gold Mine, belongs to Zhaojin Group. In addition, enterprises such as China National Gold Group Corporation and Jindu State Investment also possess abundant resources in the local area. With the soaring international gold prices—which surged by 26.8% throughout last year and even exceeded $3,500 per ounce at one point this year—the topic of gold prices has begun to attract increasing discussions. Industry insiders in Zhaoyuan told Cailian Press, "The pricing mechanism of gold is based on credit, influenced by supply and demand dynamics, and underpinned by mining costs. From a medium and long-term perspective, the upward trend is evident." The sustained increase in gold prices has profound implications for gold mining enterprises. On one hand, the production cost per gram of gold for major domestic publicly listed gold firms mostly fell within the 200-300 yuan range last year, and the rise in gold prices directly boosted their profits. On the other hand, the increase in gold prices has made it economically viable to mine ore deposits with lower grades or higher costs, leading to significant reserve and production increases for gold mining enterprises. According to the 2025 Zhaoyuan Government Work Report, key local enterprises in Zhaoyuan "achieved remarkable results in reserve and production increases last year," implementing a total of 17 in-region exploration projects and 2 out-of-region M&A projects. The annual new gold reserves reached 178.2 mt, and self-produced gold output amounted to 28.1 mt, representing increases of 10.5% and 16.1%, respectively. The local target for 2025 is to strive for gold production to exceed 31.25 mt and to increase proven reserves by 33.3 mt. Midstream: Gold Bars in Undersupply Zhaoyuan is not only rich in gold ore resources but also serves as the country's largest base for gold intensive and deep processing. Zhaojin Refining, a subsidiary of Zhaojin Group, is the leading enterprise in the local deep-processing industry chain. It holds certifications from the Shanghai Gold Exchange, Shanghai Futures Exchange, and London Bullion Market Association as a "qualified refiner capable of producing standard gold and silver ingots." With an annual refining capacity of 200 mt of gold and 1,000 mt of silver, it ranks first in the industry in terms of gold refining production. Local industry insiders told Cailian Press that gold refining has become fully marketized, with thin profit margins. Core competitiveness depends on production and management efficiency. However, as gold prices doubled over the past two years, processing fees also rose significantly, leading to a substantial improvement in profitability and keeping the entire industry at a high prosperity level this year. Additionally, Zhaojin Refining collaborates extensively with major domestic banks in the field of gold deep-processing, offering comprehensive services including design, processing, distribution, repurchase, customization, and warehousing logistics for precious metal products. Since last year, there has been an "explosive" surge in public demand for investment gold bars, with orders pouring in continuously. Zhaojin Refining's gold bar production workshop once had its production schedule booked a month in advance, forcing workers to work overtime. Due to its heavy involvement in physical gold trading, upstream and midstream gold mining companies need to use "futures + options" combinations for risk hedging and price protection to mitigate market risks caused by gold price fluctuations. Seizing this opportunity, Zhaojin Group entered the futures market, and its subsidiary Shandong Zhaojin Investment Co., Ltd. became one of the largest gold traders on the Shanghai Gold Exchange, consistently ranking among the top three comprehensive members. This serves as a model for the integration of industry and finance in the gold sector. Downstream: Repositioning of Gold Jewelry The rapid rise in gold prices has not been universally welcomed in the gold industry chain, with some benefiting while others suffer—particularly downstream gold jewelry retailers. This is because when gold prices rise from low levels, the increase stimulates jewelry consumption. However, once prices reach a psychological high, further increases tend to suppress jewelry demand. Consequently, since H2 last year, typical gold jewelry stocks such as Lao Feng Xiang, Caibai Co., Ltd., and China Gold have generally faced declining performance and stock prices, starkly contrasting with the continuous climb in gold prices. However, against the backdrop of persistently high gold prices, will gold jewelry consumption inevitably continue to shrink? In Zhaoyuan, industry insiders hold differing views. "If you look at the three newly emerging jewelry brands—Laopu, Linchao, and Junpei—they remain completely unaffected by the surge in gold prices." The professional attributes this to the core strategy of brands like Laopu, which emphasize ancient-style gold jewelry with a focus on design, craftsmanship, and artistic value. These brands align with the current trend of Chinese aesthetic revival and psychologically "capture" consumers, making them view their purchases as luxury or collectible items, thereby desensitizing them to the relationship between product pricing and real-time gold prices. "This brings us a profound insight: the competition in the gold jewelry industry is increasingly focused on product strength and design. The new generation of consumers, including young people, place greater emphasis on the self-pleasing and collectible attributes of gold jewelry. Only by continuously exerting efforts in this dimension can we break through in an environment of high gold prices." Currently, Zhaojin Group is focusing on building its brand "Zhaojin Silver House" (formerly known as Zhaoyuan Silver Workshop, established in 1908). It has launched product series such as "Contemporary Treasure" and "Dunhuang Splendid Ornaments," attempting to secure a place in the fiercely competitive gold retail market through innovative designs that integrate traditional culture. In Zhaoyuan, beyond the traditional business models of gold mining, smelting, and retail, efforts are being made to explore more economic growth points centered around gold themes. Today, Zhaoyuan is promoting the deep integration of "gold + culture + tourism" offline, attempting to leverage the Gold Town to delve into the millennium-old gold culture and experience the intangible cultural heritage of the Song Dynasty. It is constructing a new pattern of integrated development of industry, culture, and tourism that encompasses "mining gold, making gold, playing with gold, buying gold, and exchanging gold," further cultivating a characteristic cultural tourism IP of "China's Gold Capital." Locals in Zhaoyuan say that the charm of gold lies in its heritage from antiquity, yet it always manages to remain fresh and relevant.

The Russian Ministry of Natural Resources stated on Monday that it plans to produce at least 60,000 mt of lithium carbonate by 2030 to reduce dependence on imports and boost the production of high-capacity EV batteries. Lithium and other critical minerals, including rare earth metals, have gained global attention in recent months as US President Donald Trump sought to counter China's dominance in the sector through production agreements with Ukraine and Russia. Lithium, a metal crucial for EV production, has been listed as one of 50 critical minerals by the U.S. Geological Survey (USGS). Russia reported having up to 3.5 million mt of lithium oxide reserves. However, according to USGS estimates, Russia's lithium reserves were around 1 million mt in 2024, ranking 14th globally. Notably, the pure lithium content in lithium oxide is approximately one-third, while in lithium carbonate, it is about 20%. The Russian Ministry of Natural Resources stated that domestic industrial lithium production is expected to start in 2030. Russian President Vladimir Putin also emphasized last month that Russia should accelerate its lithium mining plans, and demand for lithium has surged in recent years as Russian companies have heavily invested in large-scale lithium battery and EV production. The ministry further added that Russia has historically relied on lithium imports and now urgently needs to rapidly establish facilities to increase economic extraction and processing of this strategic resource. The department revealed that exploration licenses have already been issued for three major lithium ore deposits: Kholmovskoye and Polmostundrovskoye in the Murmansk region of north-west China, and Tastygskoye in the Tuva region bordering Mongolia. It is expected that these three deposits and their associated production facilities will be operational by 2030. Source: Reuteres Recently, KBR (headquartered in Houston, Texas, USA) and ISU Specialty Chemicals Co., Ltd. (headquartered in Seoul, South Korea) have advanced the PureLi2S(SM) lithium sulfide technology to commercial scale following successful operations at a pilot plant in Wonsan, Ulsan, South Korea. Under a joint development agreement signed in 2023, the two companies established a pilot plant and successfully produced lithium sulfide that met specifications and gained market recognition. This experience, combined with KBR's expertise in scaling up process technologies, will be key to designing commercial facilities and bringing the technology to the global market. KBR's PureLi2S technology aims to produce battery-grade lithium sulfide for all-solid-state batteries (ASSBs). Compared to traditional liquid electrolytes, ASSBs offer higher energy density, enhanced safety, and superior efficiency. The technology can produce high-purity lithium sulfide while minimizing off-spec material, a significant advantage given the complexity and inherent chemical properties. Transitioning to larger-scale continuous production from existing batch processes will also improve cost-effectiveness and scalability. Hari Ravindran, Senior Vice President of KBR Technology Solutions, said, "We are excited to deepen our collaboration with ISU Specialty Chemicals, leveraging two years of joint R&D to scale up lithium sulfide production. With PureLi2S technology, we not only support improved EV performance and driving range but also drive the affordability needed for mass electrification." Seung-Ho Lyu, CEO of ISU Specialty Chemicals, stated, "Our Wonsan plant has exceeded expectations, consistently producing specification-compliant lithium sulfide. We are thrilled to partner with KBR to bring this breakthrough technology to market." Source: Chemical Engineering On March 17, the UK's first commercial geothermal lithium production plant was approved, with Cornish Lithium planning to demonstrate its ability to extract valuable battery materials and thermal energy from rocks beneath Cornwall. Cornish Lithium has received planning permission to build production facilities at the Cross Lanes site near Chacewater. The first phase of the project will include drilling two wells to a depth of 2,000 meters: one for extracting lithium-rich water from underground and the other for reinjecting the water after lithium is removed using direct lithium extraction technology. Since 2021, Cornish Lithium has been testing various direct lithium extraction technologies at a nearby site, including membrane separation technology provided by GeoLith and Evove. However, the company declined to disclose which companies it will collaborate with in the new containerized process plant, stating only that it is "still exploring which direct lithium extraction technology will be used." Traditional lithium production methods involve heating mined rock or using large evaporation ponds for a slow evaporation process. Emerging direct lithium extraction methods are expected to increase recovery rates by up to 90%, although they may be more capital-intensive. Cornish Lithium also noted that the project will assess the potential to use the thermal energy from the hot water to heat local homes and businesses. The second phase will include building a demonstration plant to produce lithium samples for battery and EV manufacturers. If successful, Cornish Lithium plans to construct a commercial lithium production plant on the site. Jeremy Wrathall, CEO of Cornish Lithium, said the approval is a "key milestone in our efforts to produce domestic lithium from geothermal waters first discovered in Cornwall in 1864. It marks another step in the UK's journey from complete reliance on imported lithium to maximizing the potential of what lies beneath Cornwall." Source: Public Information Compilation Zijin Mining, one of the world's fastest-growing mining companies, is accelerating its global expansion, planning to significantly boost copper, gold, and lithium production over the next five years. The China-based mining company, with a market value of around $60 billion, aims to achieve 1.5 million mt of copper and 3.2 million ounces of gold by 2028. In an interview at the 2025 PDAC conference, Zijin Mining Vice President Shaoyang Shen attributed the company's success to an aggressive M&A strategy, technological advancements, and a commitment to sustainability. "Our clear goal is to become a green, high-tech, and globally leading mining company," Shaoyang Shen told Kitco Mining, adding that by 2030, over 30% of its energy will come from renewable sources. Zijin Mining has been actively investing in mining assets in Africa, the Americas, and Europe. As part of a broader strategy to increase gold production, the company recently spent $1 billion to acquire Newmont's Akyem gold mine in Ghana. "Our target is to produce 3.2 million ounces of gold by 2028, with an annual growth rate of 7% to 8%," Shaoyang Shen said. He noted that while the company's gold output is increasing, Zijin Mining's copper business currently generates more revenue, reflecting changes in market dynamics. Meanwhile, Zijin Mining is also expanding in the lithium sector, a key metal for the EV revolution. Shaoyang Shen confirmed that Zijin Mining will begin producing 40,000 mt of LCE in 2025, positioning itself as a significant player in the battery metals sector. Operating in multiple jurisdictions, Zijin Mining has strategically diversified its portfolio to mitigate market volatility. "When it comes to industrial metals like copper and zinc, they are influenced by macroeconomic trends," Shaoyang Shen explained, "while gold serves as a safe-haven asset during times of economic uncertainty." Zijin Mining's dual focus on industrial and precious metals allows the company to remain resilient amid global economic fluctuations. "Our metal portfolio is relatively balanced and sustainable," Shaoyang Shen stated. Zijin Mining's global ambitions come at a time of heightened geopolitical tensions. Despite the challenges, Shaoyang Shen emphasized the importance of international mining cooperation. "The mining industry really needs international cooperation," he said, "some countries are rich in resources but lack financial or technical capabilities... Canada plays a significant role in setting mining standards and facilitating global transactions." While Zijin Mining is currently listed on the Shanghai and Hong Kong stock exchanges, Shaoyang Shen did not rule out the possibility of listing on international markets such as Canada, the US, or London in the future. Source: Kitco News Recently, the lithium processing plant being constructed by Zheli Mining Investments in Zvishavane, Zimbabwe, is nearing completion, with the final stages of work almost finished. The $1.5 million plant, capable of processing 500 mt of ore per day, is expected to commence operations next month. Owen Ncube, Minister of Provincial Affairs and Devolution for the Midlands Province, highlighted the strategic importance of the project. During a recent inspection, Ncube said, "We gather here not only to witness the significant progress in lithium mining but also to reflect on the broader potential of our province's rich mineral resources, including gold in various regions. These resources are crucial for the social and economic development of our country and are an integral part of our 'Vision 2030'." Kudakwashe Zimhondi, General Manager of Zheli Mining Investments, expressed confidence in the project's progress. He said, "We have completed the installation phase and conducted trial runs to test its efficiency. So far, we are very excited about the results. The government's support for the lithium industry has been key to our success, and we appreciate their efforts in creating a favorable investment environment." Once fully operational, the lithium processing plant is expected to create jobs and promote economic empowerment and skill development in Zvishavane. Additionally, Zimbabwe continues to play a significant role in the global lithium market, attracting many investments in the sector. With the surging demand for lithium resources in EV batteries and renewable energy storage, the project will further enhance Zimbabwe's competitiveness among lithium-producing countries. Source: African Mining Market

Copper and gold, as metals with outstanding performance in the market, have always attracted much attention from the market. The performance report and performance briefing of Zijin Mining, a mining giant that owns copper and gold, have also attracted much attention.

As for investors' concerns about the impact of the Fed's interest rate hike issue on the future price of the company's main product gold/copper, Zhongjin Gold responded on the investor interaction platform on May 25, saying it is optimistic about the future prices of gold and copper.

On Sunday (April 23), local time, the central bank of Zimbabwe announced that it will launch a gold-based digital currency that will be traded in the country as legal currency.