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JSE Suspends Ayo Technology Solutions Over Listing Non-Compliance 1 International 

JSE Suspends Ayo Technology Solutions Over Listing Non-Compliance

Constance
The Johannesburg Stock Exchange (JSE) has suspended Ayo Technology Solutions’ listing due to the company’s failure to comply with its listing requirements, specifically its inability to publish its annual report for the financial year ending August 31, 2024. “In accordance with the listing requirements and the Financial Markets Act, the company’s securities have been suspended with immediate effect,” the JSE announced. Ayo Technology Solutions had previously informed shareholders of delays in publishing its financial results through multiple Stock Exchange News Service (SENS) statements, the latest of which was issued on… Read More Here
Old Mutual Takes Full Ownership of African Infrastructure Investment Managers 2 International Corporate News Infrastructural Development 

Old Mutual Takes Full Ownership of African Infrastructure Investment Managers

Constance
Old Mutual has acquired full ownership of African Infrastructure Investment Managers (AIIM) as part of its strategy to strengthen its asset management portfolio and capitalize on Africa’s growing infrastructure investment opportunities. AIIM, which manages $1 billion in assets, invests in key sectors such as renewable energy, communication infrastructure, toll roads, airports, ports, and pipelines. “This is another important step in achieving Old Mutual’s goal of becoming a leading African financial services provider,” said Ralph Mupita, CEO of Old Mutual Emerging Markets. Infrastructure investment in Africa remains a major growth sector,… Read More Here
PIC Rejects Barloworld Takeover in South Africa Over Governance Concerns 3 Mining Equipment International 

PIC Rejects Barloworld Takeover in South Africa Over Governance Concerns

Constance
State-owned asset management firm, the Public Investment Corporation (PIC), which holds a 21.97% stake in industrial equipment and services company Barloworld, has confirmed voting against the proposed takeover of the company at R123.10 per share. The PIC also exercised its right to vote against board members up for re-election at Barloworld’s Annual General Meeting (AGM) on February 21. In a statement, the PIC emphasized its mandate to generate value and financial returns for its clients while ensuring positive socioeconomic outcomes. While acknowledging that the offer price represented a premium within… Read More Here
ERG CEO Seeks Chinese Investment in Key African and Central Asian Mines 4 Corporate News Mining Personality 

ERG CEO Seeks Chinese Investment in Key African and Central Asian Mines

Constance
Shukhrat Ibragimov, the newly appointed CEO of Eurasian Resources Group (ERG), is actively courting Chinese investment in the company’s world-class deposits of critical minerals across Africa and Central Asia. Since taking over as chairman and CEO in 2024, Ibragimov has made a series of overtures to Chinese partners, emphasizing their role in the global green transition, stating, “There is no green transition without China.” ERG holds vast copper and cobalt deposits in the Democratic Republic of Congo (DRC), worth hundreds of millions of dollars. These minerals are at the center… Read More Here
Allied Gold Sells 50% Stake to UAE's Ambrosia in $500M Deal to Boost Operations 5 International Corporate News Gold 

Allied Gold Sells 50% Stake to UAE’s Ambrosia in $500M Deal to Boost Operations

Constance
Canadian mining company Allied Gold has sold a 50% stake to UAE-based investment fund Ambrosia Investment Holding in a $500 million deal. The transaction includes $250 million in upfront cash, providing Allied with the necessary capital to accelerate operations at the Sadiola Mine in Mali and the Kurmuk Mine in Ethiopia. The partnership will create a joint venture focused on expanding Sadiola’s operations, including the deployment of solar PV and battery energy storage systems in collaboration with UAE-based ATGC by July 2026. The first-phase expansion is set to increase gold… Read More Here
Loncor Confirms High-Grade Gold Deposits at Adumbi Gold Mine in DRC 6 Mining in DRC Gold New Mining Projects 

Loncor Confirms High-Grade Gold Deposits at Adumbi Gold Mine in DRC

Constance
Canadian exploration company Loncor has revealed the results of its deep drilling program at the Adumbi Gold Mine in the Democratic Republic of Congo, confirming high-grade gold deposits at various depths. The company reported intersections of deposits with grades of 26.94 grams per ton (g/t) at 0.45 meters, 5.82 g/t at 16.07 meters, and 4.77 g/t at 22.64 meters. John Barker, CEO of Loncor, explained that hole LADD027, located in the northwest of the Adumbi deposit, intersected the mineralization at a vertical depth of 478 meters below the surface, which… Read More Here
B2Golds Otjikoto Mine Record Production and Strategic Growth Plans for 2025 7 International Corporate News Gold 

B2Golds Otjikoto Mine Record Production and Strategic Growth Plans for 2025

Constance
B2Gold’s Otjikoto Mine in Namibia, in which the company holds a 90% interest, had a strong performance in 2024, producing 198,142 ounces of gold, nearly at the midpoint of its guidance range of 185,000 to 205,000 ounces. For the year ending December 31, 2024, the mill feed grade was 1.87 g/t, with mill throughput at 3.34 million tonnes, and a gold recovery rate averaging 98.6%. In the fourth quarter of 2024, the Otjikoto Mine produced 52,452 ounces of gold. The mill feed grade for the fourth quarter was 2.10 g/t,… Read More Here
DRC Suspends Cobalt Exports to Control Market Price: Risks and Opportunities 8 Mining in DRC Battery Metals Cobalt 

DRC Suspends Cobalt Exports to Control Market Price: Risks and Opportunities

Constance
On February 22, 2025, the Authority for the Regulation and Control of Strategic Mineral Substances Markets (ARECOMS) announced a four-month suspension of cobalt exports from the Democratic Republic of Congo (DRC). This decision aims to address the global oversupply of cobalt, a key metal used in electric vehicle batteries and other technologies, and to give the Congolese government and its mining partners the ability to regulate cobalt prices. However, while the measure could help stabilize prices, it also presents several risks and challenges, according to various experts. The Reason Behind… Read More Here
DRC Anti-Corruption Network Proposes Reductions in Govt Spending 9 Mining in DRC Economy Governance 

DRC Anti-Corruption Network Proposes Reductions in Govt Spending

Constance
The Pan-African Anti-Corruption Network (Unis), a member of the Congo is not for Sale (CNPV) organization, has released a report proposing measures to reduce the cost of governmental institutions in the Democratic Republic of Congo (DRC). The report, published on Monday, February 24, focuses on cutting unnecessary expenses, particularly those associated with political institutions. Unis recommends the abolition of the Senate, a parliamentary institution comprising 109 senators, the honorary president, and staff, which incurs significant costs to the Congolese state despite its limited and often redundant role in the legislative… Read More Here
DRC Prime Minister Seeks WTO Support for Economic Transformation 10 Mining in DRC Economy Governance 

DRC Prime Minister Seeks WTO Support for Economic Transformation

Constance
Prime Minister Judith Suminwa Tuluka is actively engaging in diplomatic efforts in Geneva, Switzerland, as part of her push to address the crisis in eastern DRC and advocate for stronger sanctions against Rwanda for ongoing atrocities. On the sidelines of the 58th session of the UN Human Rights Council, Prime Minister Suminwa met with World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala to discuss strategies for transforming the Congolese economy and accelerating the country’s development agenda. “The DRC is at a turning point for its development,” Suminwa stated. “We need greater… Read More Here

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