International - Copperbelt Katanga Mining

Eurasian Resources Group and Thara Partner to Explore Cobalt Sulphate Refinery in Saudi Arabia 1

Eurasian Resources Group (ERG), a diversified mining company, is actively pursuing the establishment of a refinery dedicated to processing cobalt hydroxide into cobalt sulphates – a key component in electric vehicle (EV) batteries. The move aims to bolster ERG’s position as a strategic supplier to the chemicals sector, particularly in the EV battery industry. ERG has identified Saudi Arabia as a potential location for the refinery and is collaborating with the investment platform Thara to explore and pursue this investment opportunity. Thara, focusing on unlocking Saudi Arabia’s Vision 2030 opportunities,… Read More Here

International Exploration

Saudi Arabia earmarks $182 mln for minerals exploration in mining push

January 13, 2024January 13, 2024 Constance

Saudi Arabia has established a $182 million mineral exploration incentive programme, a senior government official said last week, part of efforts to build an economy that does not rely mostly on oil. The kingdom is pushing to expand its mining sector and tap vast reserves of phosphate, gold, copper and bauxite. “This programme will de-risk investments in our exploration, securing to enable new commodities, green field projects and junior miners,” Minister of Industry and Mineral Resources Bandar Alkhorayef said, speaking at the Future Minerals Forum. Deals worth 75 billion riyals… Read More Here

International

Multinational Rio Tinto to explore base metals in Angola

January 12, 2024January 17, 2024 Constance

The Angolan Government and the Anglo-Australian multinational Rio Tinto Explotation LTD will sign, next Wednesday, January 17th, a mining investment contract, for the prospecting and exploration of base metals. According to a source from the Ministry of Mineral Resources, Oil and Gas, the project called “Moxico Concession” is located in the province of Moxico, and has an extension of 9,959 square kilometers. Operations in Angola Last year, the Australian multinational Rio Tinto, the second largest minerals company in the world, began prospecting operations for kimberlites and diamonds in the commune of… Read More Here

Transport and Logistics International

Angola: Port of Lobito Records Improved Ship Movements

January 12, 2024January 12, 2024 Constance

Angola’s second largest port, the Port of Lobito, has recorded an increase of 7.57% in ship movement since 2022, with 351 ships docked at the port handling 1,332,451 tons of cargo in 2023. Announced by Celso Rosas, Chairman of the Board of Directors of the Port of Lobito, it was highlighted that the port collected revenues of more than $16.6 million in 2023. Despite an increase in ship movements, however, the Port of Lobito recorded a reduction of 14.9% in terms of tons of cargo while simultaneously recording a decrease… Read More Here

International Iron Ore

Rio Tinto to Launch $20B Mine in Guinea-Conakry in 2024

January 12, 2024January 12, 2024 Constance

Backed by a $20 billion investment, development of the Simandou iron ore mining project will commence this year following anticipated investment approvals from Beijing for the state-owned Chinese partner, Chinalco. Situated in the Simandou mountains in south-eastern Guinea-Conakry, the project represents the largest mining development in the world. The iron ore, rail, and port development project will be developed as a joint venture between global mining group, Rio Tinto, the Guinean government, and multiple Chinese companies. First ore from the project is expected for shipment by 2025, with full production… Read More Here

Battery Metals Coal Diamond Gold International

Five Mineral Markets to Watch in 2024

January 10, 2024January 10, 2024 Constance

With a focus on sustainable and equitable extraction, COP28 highlighted the pivotal role of critical minerals in securing clean energy supplies and transition value chains. In line with these advancements – which sees global demand more than doubling by 2030 – mineral-rich African countries are strengthening their regulatory frameworks and introducing new incentives to attract mining-focused investments. The second edition of the Critical Minerals Africa summit – slated for October 2024 – will showcase these markets and their role in global supply-demand dynamics over the next decade. Below are the top five… Read More Here

International Economy

Africa Leads World’s Fastest-Growing Economies

January 6, 2024January 6, 2024 Constance

Africa is poised to be the second fastest-growing regional economy by 2024, with over 10 African countries experiencing substantial GDP growth. Last October, the International Monetary Fund emphasized Africa’s pivotal role in global economic development and resilience. Leading forecast growth are Niger, Senegal, Libya, Rwanda and Ivory Coast, whose economic expansion is largely anticipated from strategic and diversified energy sector investments. Niger – 11.1% In 2024, Niger is anticipated to be Africa’s fastest-growing economy with 11.1% GDP growth, contingent upon pivotal developments: early sanctions lifting, large-scale oil production, international financing resumption, and… Read More Here

International Equipment & Technology Mining Equipment Partnership Press Release

Epiroc field trials battery-electric SmartROC D65 BE with Capital Limited

January 6, 2024January 22, 2024 Constance

Epiroc has partnered up with leading mining services company Capital Limited to field test the innovative SmartROC D65 BE, a battery-electric surface drill rig for the mining and construction industry. The battery-electric version of the well-known SmartROC D65 surface drill rig will be tested in Capital Limited´s African operations during 2024. The demand for zero emission or low emissions is high, as the world is pushing to transition from fossil-fuel-driven equipment to sustainably powered rigs. The field test of the SmartROC D65 BE is therefore important both for Epiroc and… Read More Here

International Gold

Burkina Faso: West African Resources Unlocks $100M for Kiaka Project

January 5, 2024January 6, 2024 Constance

Mining company, West African Resources, has received $100 million in financing from a fund managed by Sprott Resource Lending Corp. (Sprott) and Coris Bank International SA (Coris) to finance operations at the Kiaka Gold Project in Burkina Faso. The financing is part of a $265-million package that the mining firm secured from Sprott and Coris to support the Kiaka Project and various other operations. According to Richard Hyde, Managing Director at West African Resources, first production from the Kiaka Project is anticipated in the first half of 2025. “Kiaka will… Read More Here

International Economy

BRICS Officially Welcomes 5 New Members

January 5, 2024January 5, 2024 Constance

Intergovernmental organization, the BRICS group, has officially expanded its membership, welcoming Egypt, Iran, Saudi Arabia, the United Arab Emirates, and Ethiopia as new members. The strategic move is part of BRICS’ commitment to fostering a more diverse and inclusive global order that benefits the Global South and follows the issuance of membership invitations to six countries during the 15th BRICS Summit – held in Johannesburg in August 2023. Effective from January 1, 2024, the inclusion of these five nations underscores BRICS’ dedication to strengthening multilateralism for equitable global development and… Read More Here