Zambia has entered into a cooperation agreement worth US$50 million with the Arab Bank for Economic Development in Africa (BADEA) to support the construction of the Kalabo-Sikongo-Angola Road Project in Western Province. Additionally, the two parties have signed a capacity-building agreement amounting to US$500,000, aimed at training and developing publicContinue Reading
ExxonMobil has selected McDermott, an American engineering company, to lead a consortium for the next phase of a natural gas megaproject in Mozambique. This significant project, set to be completed next year, involves preparing the detailed engineering design for gas production from the Rovuma basin—one of the largest natural gasContinue Reading
Ambatovy, Madagascar’s nickel and cobalt mining operation, has halted a pipeline transporting ore from its eastern mine to a processing and refining facility due to damage, as reported by its major shareholder, Sumitomo Corp. While Ambatovy assesses the operational impact and recovery timeline, traders suggest that a prolonged shutdown exceedingContinue Reading
In a year-end address, Elias Monage, president of Seifsa, highlighted the need for ongoing stabilization of electricity supply to attract investment for growth. He emphasized the importance of addressing fundamental issues in water, freight logistics, crime, and visa administration, stating, “These are the elementary elements of a viable economy.” MonageContinue Reading
The Minister of Solid Minerals Development, Mr. Dele Alake, has issued a warning against the arbitrary closure of mining operations by state governments, emphasizing that such actions could jeopardize the federal government’s efforts to attract Foreign Direct Investments (FDI). Alake made this statement while announcing the formation of a fact-findingContinue Reading
A conflict between a Glencore Plc subsidiary and the Democratic Republic of Congo centers on a deal made years ago by Israeli businessman Dan Gertler. According to Congo’s mines minister, the dispute involving a Glencore-owned copper and cobalt mine concerns royalty payments made to Gertler, who was sanctioned by theContinue Reading
Angola’s state-owned diamond producer, Endiama Mining SA, acknowledged that some clients are hesitant to engage due to its partnership with Russia’s Alrosa PJSC, but emphasized that its diamond output is not subject to Western sanctions. Alrosa holds a 41% stake in the Catoca operation and a significant share in theContinue Reading
Barrick, a major player in gold and copper mining, has begun preparing for the development of the Lumwana super pit as part of a potential $2bn (C$2.71bn) expansion project, pending a final investment decision. If approved, this expansion would transform the Zambian Lumwana mine into a key global source ofContinue Reading
Millions in Ghana face severe consequences due to illegal gold mining, locally known as “galamsey.” This practice has led to extensive environmental degradation, particularly in rural areas. Despite widespread public outcry, illegal mining continues, contaminating rivers with toxic chemicals and undermining the country’s agricultural potential and public health. Both localsContinue Reading
