International - Copperbelt Katanga Mining

President Bassirou Diomaye Faye Celebrates Senegal’s First Oil Production

June 29, 2024June 29, 2024 Constance

President Bassirou Diomaye Faye witnessed the production of Senegal’s first barrels of oil on the Sangomar platform, marking a historic milestone for the country in the global and African oil industries. Addressing the press, President Faye commended the dedication and efforts of those who believed in the potential of Senegal’s sedimentary basin and worked towards its development. He expressed immense pride in the young Senegalese professionals showcasing their expertise on the platform. “I reiterate my commitment and that of the government to the transparent and equitable management of our natural… Read More Here

Oil & Gas International Petroleum

Namibia Emerges as a New Frontier for Oil Production in Southern Africa

June 29, 2024June 29, 2024 Constance

While most oil-producing African nations are located in the Western, Northern, and Central regions of the continent, the Southern and Eastern parts have largely been devoid of this valuable resource. Except for Angola, no Southern African nation has contributed significantly to the global oil market. However, recent discoveries suggest a potential shift, with Namibia poised to become a key player. A report by Reuters revealed that major oil conglomerates have been actively exploring Namibia’s oil potential in recent years. In 2023, the National Petroleum Company of Namibia (NAMCOR) announced the… Read More Here

International Tin

Andrada Mining Sees Production Surge Amid Strategic Expansion Plans

June 25, 2024June 25, 2024 Constance

Andrada Mining, listed on AIM and operating in Namibia, has marked a significant 14% quarter-on-quarter increase in saleable tantalum concentrate production to 9 tonnes for the first quarter of its 2025 financial year. This growth is part of the company’s latest operational update released on June 21, which also highlighted positive developments across its tin production and operational efficiency. During the quarter ended May 31, Andrada processed 237,976 tonnes of ore, up from 217,189 tonnes in the same period last year, reflecting a proactive approach to scaling operations. Tin concentrate… Read More Here

International Uranium

Gibb River Diamonds Acquires Uranium Projects in Namibia

June 25, 2024June 25, 2024 Constance

Australian company Gibb River Diamonds has acquired two uranium projects in Namibia, encompassing six exclusive prospecting licenses over an area of 1,828 km². Alongside its ongoing development of the Ellendale diamond project and Edjudina gold project in Australia, Gibb River Diamonds is expanding its portfolio with these strategic acquisitions in the Erongo and Kunene districts of Namibia. The Erongo district is a world-renowned uranium-producing region, hosting significant assets like Paladin’s Langer Heinrich, Deep Yellow’s Tumas deposit, and Elevate Uranium’s Koppies project. Gibb’s Erongo project currently includes two permit applications covering… Read More Here

International Battery Metals Oil & Gas

US Supports Angola’s Transition to Clean Energy and Critical Minerals

June 23, 2024June 23, 2024 Constance

The United States is backing Angola’s shift away from its oil-dominated economy towards becoming a major processor and exporter of critical minerals and clean energy, a senior official confirmed. Geoffrey Pyatt, US Assistant Secretary of State for Energy Resources, highlighted the alignment between Angola and the US on energy access, security, decarbonization, and critical minerals during an online media briefing on Tuesday. Angola, a significant crude oil producer in Africa, has emerged as a strategic focus for the US in its efforts to secure critical minerals like copper, amid competition… Read More Here

International Equipment & Technology Mining Equipment Partnership

Sandvik and Byrnecut Partner to Develop Diesel-Electric Mining Equipment

June 21, 2024June 21, 2024 Constance

Mining equipment maker Sandvik has announced a partnership with contract miner Byrnecut to develop diesel-electric loaders and trucks aimed at enhancing sustainability and productivity in underground mining operations. This initiative, formalized at The Electric Mine 2024 conference in Perth, Australia, will tailor equipment to Byrnecut’s specific requirements and optimize its underground activities. Pat Boniwell, Managing Director of Byrnecut Australia, stated, “Diesel-electric equipment combines the low-maintenance benefits of electric machines with the flexibility of diesel. Our long-standing association with Sandvik allows us to provide input and feedback that will shape the… Read More Here

International Gold Press Release

Barrick Provides Detailed Response to Unsubstantiated UN Human Rights Allegations

June 21, 2024June 21, 2024 Constance

Barrick yesterday published its detailed response to a widely circulated ‘Joint Communication’ from the United Nations Human Rights Council (UNHRC) Special Procedures Branch making allegations regarding, predominantly, police conduct in the areas related to the North Mara gold mine in Tanzania, saying the letter is replete with misconceptions and inaccuracies. Barrick president and chief executive Mark Bristow said the authors of the letter presented allegations as facts and had used inaccurate and outdated information from international human rights NGOs which Barrick thoroughly refuted at the time they were published. “It concerns us… Read More Here

International Governance

President Ramaphosa Calls for Unity and Transformation in Inauguration Speech

June 19, 2024June 19, 2024 Constance

President Cyril Ramaphosa delivered a stirring address during his inauguration ceremony at the Union Buildings in Tshwane today, calling for unity and a renewed commitment to the principles of democracy, equality, and social justice. The ceremony was attended by an array of distinguished guests, including kings, queens, heads of state, government officials, and representatives from various international organisations. In his speech, President Ramaphosa emphasized the significance of the event as a reaffirmation of South Africa’s democratic values. “Today, we gather under this vast Highveld sky at the seat of our… Read More Here

International Gold

Central Banks’ Gold Purchases Surge Tenfold in April 2024

June 16, 2024June 16, 2024 Constance

In an analysis published on June 4, 2024, the World Gold Council reported a dramatic increase in central banks’ gold purchases, which surged tenfold in one month. Central banks bought 33 tonnes of gold in April, up from just 3 tonnes in March. The Central Bank of Turkey emerged as the largest buyer during this period, adding 8 tonnes to its official reserves. Other central banks also made significant purchases, including those of Kazakhstan, India, Poland, Russia, and the Monetary Authority of Singapore. While African central banks have historically been… Read More Here

International Economy

IMF Analysis: Global Economy Shows Resilience Amid Uneven Growth

June 16, 2024June 16, 2024 Constance

In a recent analysis published by the International Monetary Fund (IMF), experts assert that the global economy remains resilient despite uneven growth. Following the pandemic, supply chain disruptions, an energy and food crisis due to Russia’s war against Ukraine, and soaring inflation have prompted synchronized tightening of monetary policy worldwide. Global growth reached its lowest point of 2.3% at the end of 2022, just after the median headline inflation rate peaked at 9.4%. According to projections in the new World Economic Outlook, growth for this year and next is expected… Read More Here