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Gold Fields has announced a new agreement with Ghana to ensure a productive path forward for the Damang mine.

Damang is the smaller of Gold Fields’ two operations in Ghana, with the Tarkwa mine being the second.

Gold Fields will be granted a new 12-month mining lease for the Damang mine, subject to ratification by Ghana’s Parliament on 16 May 2025.

Ghana assumed operational control of the mine after rejecting Gold Fields’ lease renewal application earlier this month, breaking the tradition of automatic licence renewals.

Gold Fields will recommence mining activities during the new lease period, which is expected to increase employment and stimulate job creation.

The company will also advance a detailed bankable feasibility study to extend the mine’s life by the end of 2025.

Additionally, the company will continue an infill exploration drilling programme to enhance mineral resource confidence. The mine will continue processing surface stockpiles in the interim.

India’s Ministry of Coal has introduced a series of incentives to promote underground coal mining.

The new policy measures aim to address the challenges of high capital investment and longer gestation periods for underground coal projects.

The ministry has announced a reduction in the floor revenue share from 4% to 2%, providing fiscal relief and improving the financial viability of underground coal projects. Furthermore, the upfront payment requirement for such projects has been waived, removing a major financial obstacle and encouraging private sector participation.

These incentives are complemented by an existing 50% rebate on performance security for underground coal blocks.

“By incentivising underground mining, the government is not only catalysing economic growth but also driving the industry toward greater efficiency, safety and employment generation,” the ministry said. 

India, the world's second-largest producer of crude steel, imports 85% of its coking coal.

Barrick Gold plans on dropping gold from its name and rebranding to Barrick Mining to reflect its push into copper operations.

The name change is subject to shareholder approval at its upcoming meeting on 6 May.

“Barrick Mining Corporation  and our new stock symbol, ‘B’, better reflect Barrick’s current business and our mission to achieve sustainable and profitable gold and copper growth,” said Barrick president and chief executive Mark Bristow.

The change to the ticker symbol for Barrick common shares listed on the New York Stock Exchange will change from ‘GOLD’ to ‘B’ from the start of trading on 9 May. Shares will continue to trade under the ‘ABX’ ticker symbol on the Toronto Stock Exchange.

Barrick is currently progressing its portfolio of growth projects towards a planned 30% increase in gold equivalent ounces by the end of 2030.

In 2024, Barrick met its annual guidance with full-year attributable gold production of 3.91 million ounces (moz).

US President Donald Trump has signed an executive order to expedite the exploration and development of seabed minerals.

The order mandates rapid development of US capabilities in the exploration, characterisation, collection and processing of critical deep seabed minerals to bolster domestic supply chains and reduce dependency on foreign resources.

It aims to establish the US as a global leader in seabed mineral exploration and development within and beyond national jurisdiction.

The directive also seeks to strengthen partnerships with allies and industry to counter China’s influence in the space.

The order stated: “Vast offshore seabed areas hold critical minerals and energy resources. These resources are key to strengthening our economy, securing our energy future and reducing dependence on foreign suppliers for critical minerals.”

Earlier in April, Trump signed executive orders to increase US coal production, defying international efforts to reduce carbon emissions.

China has imposed new export controls on seven additional rare earth elements (REEs), including yttrium, dysprosium and terbium, which are crucial to modern technology such as jet engines and electric vehicles.

The restrictions, effective 10 April, follow US President Donald Trump’s increase in tariffs on Chinese goods.

China’s inclusion of these elements on its dual-use export control list raises concerns over global supply chains.

Despite their small quantities, these metals are ubiquitous in modern technology, highlighting the potential impact of China’s export controls.

The country’s control over the rare earth market remains unchallenged, with China accounting for around 60% of global mined production. It also dominates the processing stage, handling roughly 90% of global output.

In February 2025, China imposed export restrictions on five key metals including tungsten and indium, which are critical to industries such as clean energy and defence.