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☆ Mali signs agreement with Russia to build gold refinery
▼ + stars: | 2023-11-22 | by ( Tiemoko Diallo | ) www.reuters.com time to read: +2 min

BAMAKO, Nov 22 (Reuters) - Mali's military government said it has signed an agreement with Russia to build a gold refinery in the capital Bamako, one of a slew of deals between the two countries as Russia seeks to extend its regional influence. The deal is the latest sign of Russia's deepening interests in Mali, one of Africa's largest gold producers, just as Western influence there wanes. Russia's state nuclear energy company Rosatom signed an deal with Mali in October to explore for minerals and produce nuclear energy. Sanou said he had also signed a deal with a Russian firm to build a 200- to 300-megawatt solar power plant by mid-2025. Industrial gold production in Mali totalled 66.2 tonnes last year, mostly from mines owned by Barrick Gold (ABX.TO), B2Gold (BTO.TO), Resolute Mining (RSG.AX), Allied Gold (AAUC.TO) and Endeavour Mining .

Persons: Alousséni Sanou, Sanou, Rosatom, Wagner, Tiemoko Diallo, Hereward Holland, Edward McAllister, Mark Heinrich Our Organizations: Wagner Group, Islamic, Barrick Gold, Resolute Mining, Allied, Endeavour Mining, Thomson Locations: BAMAKO, Russia, Bamako, Mali, Russian, France, Africa, al Qaeda, Islamic State

☆ 'Golden opportunity': Morgan Stanley says it's a good time to buy gold stocks — and names its top global picks
▼ + stars: | 2023-11-09 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Now is a good time to buy gold stocks, according to Morgan Stanley. Notably, gold stocks underperformed gold prices by about 20% in the last three months, the investment bank's analysts, led by Sandeep Peety, wrote in a Nov. 2 note. Morgan Stanley named several stocks to play the "golden opportunity." 'Preferred play' Morgan Stanley named Endeavour Mining , a London-headquartered multinational mining company, as its "preferred play." Other overweight-rated stocks Other gold mining companies that the investment bank gave an overweight rating include Australia's Evolution Mining and Regis Resources and China's Zijin Mining Group .

Persons: Morgan Stanley, Sandeep Peety, — CNBC's Michael Bloom Organizations: Endeavour Mining, Regis Resources, Zijin Mining, Mining, Compania De Locations: Israel, London, EDV, Ivory, Massawa, Senegal, Compania De Minas Buenaventura

☆ Want to play soaring gold prices? These stocks are seen rising by at least 20%
▼ + stars: | 2023-04-07 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Gold prices are up about 10% this year and traded around $2,020 an ounce at one point on Thursday. For investors looking to cash on potentially higher gold prices, CNBC Pro screened FactSet for stocks in the Global X Gold Explorers ETF , the iShares MSCI Global Gold Miners ETF , the VanEck Gold Miners ETF , and the SPDR S & P Metals and Mining ETF . The company's gold mining operations are in Western Australia, where it aims to produce 185,000 to 205,000 ounces of gold annually by 2024. Analysts give British mining firm Hochschild Mining potential upside of 32.8%, according to FactSet data. Other stocks that made the screen include Australia's Silver Lake Resources , Indonesia's PT Merdeka Copper Gold, Endeavour Mining and B2Gold .

[1/3] An excavator clears out rocks into a dumper at the gold mine, operated by Endeavour Mining Corporation in Hounde, Burkina Faso February 11, 2020. Acquired by Burkina-based firm Néré Mining from Endeavour Mining (EDV.L) in March, Karma is one of at least four gold mines that halted production this year because of security risks. Gold is Burkina Faso's main export, accounting for 37% of total exports in 2020, and mining is a leading source of jobs. At current rates, Burkina Faso is set to produce 13% less gold this year than in 2021, in part because of mine closures, government statistics show. The Burkina Faso mines ministry did not respond to Reuters' questions.

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