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Zimbabwe Resumes Gold Coin Sales to Support Currency Stability 23 International Economy 

Zimbabwe Resumes Gold Coin Sales to Support Currency Stability

Constance
Zimbabwe’s central bank has resumed the issuance of gold coins, a move it had suspended 10 months ago. The decision aims to bolster the bullion reserves backing the local currency, the ZiG, which has been under pressure due to policy missteps, according to Imara Asset Management, the country’s oldest independent brokerage. The 22-carat gold coins, whose issuance was halted in July, are once again available through the country’s banks. The timing aligns with heightened market demand for gold, noted Persistence Gwanyanya, a member of the central bank’s monetary policy committee.… Read More Here
African Diamond Producers Struggle as Global Prices Plunge 24 Diamond International 

African Diamond Producers Struggle as Global Prices Plunge

Constance
Several African economies are feeling the strain from a sharp decline in global diamond prices. According to multiple reliable sources, diamond prices have dropped by more than 25% since 2022, impacting major African producers such as Botswana, Namibia, and Angola. The main factor behind the prolonged fall in demand and prices is the growing popularity of synthetic diamonds, which are increasingly preferred for jewelry production. The Democratic Republic of Congo (DRC) has been less affected, as diamond mining plays a relatively minor role in an economy dominated by copper and… Read More Here
DRC's Mining Sector Generates $4.36 Billion in 2024 25 Mining in DRC Economy 

DRC’s Mining Sector Generates $4.36 Billion in 2024

Constance
The mining sector of the Democratic Republic of Congo (DRC) generated $4.36 billion in 2024, accounting for approximately 41.3% of the country’s total revenue, estimated at over $10.62 billion. This was reported by the financial rating agency Standard & Poor’s (S&P) in a recent post on its X (formerly Twitter) account. According to S&P, this performance resulted from multiple sources of revenue, including income tax on expatriates’ salaries, exceptional taxes on foreign workers’ compensation, permits for exploration or exploitation, and mining royalties. The latest report from the DRC Ministry of… Read More Here
Zambia’s Energy Ministry Opens Bidding for Tazama Pipeline Access 26 Mining in Zambia Oil & Gas 

Zambia’s Energy Ministry Opens Bidding for Tazama Pipeline Access

Constance
The Ministry of Energy has officially opened the bidding process for oil marketing companies (OMCs) seeking access to the Tazama pipeline. This follows the successful completion of a review of the guidelines governing the Tazama Pipeline Open Access Framework. According to Principal Public Relations Officer Bob Sianjalika, both local and foreign OMCs are now invited to submit their bids for the use of the pipeline to transport diesel from Dar es Salaam to Zambia. The deadline for submitting bids is set for April 30, 2025. Sianjalika emphasized that the open… Read More Here
ERG Africa Champions Women’s Inclusion at Kinshasa Mining Event 27 Mining in DRC Corporate News Events & Expos 

ERG Africa Champions Women’s Inclusion at Kinshasa Mining Event

Constance
As a proud member of the Chambre des Mines – Fédération des Entreprises du Congo, ERG Africa was honoured to actively participate in the Women’s Day event held on 16 April in Kinshasa. The event, attended by the Governor of Kinshasa, His Excellency Mr. Daniel Bumba, placed a strong focus on advancing women’s inclusion in the mining sector, particularly through local subcontracting initiatives. ERG Africa CEO, Nicolas Treand, took part in a panel discussion alongside two of the company’s partners, Dana Mopulunga, Managing Director of Degymo Group, and Stephanie Taky,… Read More Here
Gates- & Bezos-Backed KoBold Expands in DRC to Challenge China’s Grip on Critical Minerals 28 Mining in DRC Cobalt Copper 

Gates- & Bezos-Backed KoBold Expands in DRC to Challenge China’s Grip on Critical Minerals

Constance
A U.S. mining company backed by billionaires Bill Gates and Jeff Bezos is expanding its operations in the Democratic Republic of Congo (DRC), aiming to secure rare minerals essential for the global energy transition and counter China’s dominance in the sector. KoBold Metals, the Berkeley-based company supported by Gates’s Breakthrough Energy Ventures—whose investors also include Jeff Bezos and former New York Mayor Michael Bloomberg—plans to leverage artificial intelligence to discover new mineral deposits in the DRC’s resource-rich basins. Newly appointed Director-General Benjamin Katabuka announced the company’s ambitions as it deepens… Read More Here
Burkina Faso Grants Nordgold Mining License to Boost Gold Production 29 Gold International New Mining Projects 

Burkina Faso Grants Nordgold Mining License to Boost Gold Production

Constance
Burkina Faso’s military-led government has awarded an industrial mining license to Russian miner Nordgold for the development of the Niou gold project, as part of efforts to capitalize on record-high gold prices and strengthen the nation’s economy amid ongoing security challenges. The move reflects deepening economic ties between Burkina Faso and Russia, as the junta that seized power in 2022 continues to shift away from traditional Western allies toward Moscow. The Niou gold deposit, located in Kourweogo province within the Plateau-Central region, spans 52.8 square kilometers (20.4 square miles). It… Read More Here
Ghana and Gold Fields Reach Transitional Agreement on Damang Mine 30 Gold Corporate News 

Ghana and Gold Fields Reach Transitional Agreement on Damang Mine

Constance
Ghana’s government and Gold Fields have agreed on a transitional plan for the Damang mine following the country’s decision to assume operational control after rejecting the company’s lease renewal application—a break from the tradition of automatic renewals. In a statement on Wednesday, the Ghanaian presidency announced that a new 12-month mining lease will be issued to a Gold Fields subsidiary, pending parliamentary ratification in May. During the transition period, Gold Fields will resume open-pit mining activities and conduct feasibility studies to determine Damang’s remaining reserves and future mine life. The… Read More Here
Premier African Minerals Signs LOI with Glencore for Zulu Lithium Concentrate 31 Lithium Battery Metals Corporate News International 

Premier African Minerals Signs LOI with Glencore for Zulu Lithium Concentrate

Constance
Premier African Minerals (Premier) has signed a non-binding Letter of Interest (LOI) with Glencore International regarding the potential sale of spodumene concentrate from its Zulu Lithium and Tantalum Project in Zimbabwe. The LOI outlines preliminary terms for a future binding agreement, contingent on the Zulu Project meeting specific production standards, particularly in grade and volume. Premier aims to finalise the binding agreement within the next three months, with support from Canmax Technologies. Located approximately 80 km from Bulawayo, the Zulu Project is one of Zimbabwe’s largest undeveloped lithium-bearing pegmatites, covering… Read More Here

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