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Ghana wants to invest gold royalty IPO proceeds in similar funds

By: Reuters     8th September 2020 Ghana plans to use part of the proceeds from an initial public offering (IPO) in a gold royalty fund to invest in similar entities. Africa’s biggest gold producer wants to use about 20% of the $500 million it seeks to raise through the IPO later this year to buy stakes in other royalty... 

FIRB approves Shandong/Cardinal deal

By: Esmarie Iannucci     21st August 2020 The Foreign Investment Review Board (FIRB) has given approval to Shandong Gold Mining to acquire ASX- and TSX-listed Cardinal Resources. Shandong in July this year increased its takeover offer for Cardinal from the 60c a share offered in June this year, to 70c a share, after a competing bid from... 

Volkswagen adds Ghana to its list of African assembly plants

By: Irma Venter     21st August 2020 Volkswagen has cut the ribbon on a new vehicle assembly facility in Accra, the capital of Ghana. This makes Ghana the fifth Volkswagen vehicle assembly location in sub-Saharan Africa, with the other plants in South Africa, Kenya, Nigeria and Rwanda. 

Schäfer leaves VWSA to become ŠKODA Auto CEO

By: Irma Venter     21st August 2020 Volkswagen Group South Africa (VWSA) chairperson and MD Thomas Schäfer is leaving the local arm of the German carmaker to join ŠKODA Auto as its new global CEO, effective August 3. The Czech brand has been a member of the Volkswagen group since 1991. 

Prestea mine, Ghana

By: Sheila Barradas     21st August 2020 A gold mine located adjacent to the town of Prestea, in western Ghana. 

High-flying Gold Fields' profit soars, half-year dividend up

By: Martin Creamer     20th August 2020 Covid notwithstanding, gold mining company Gold Fields saw its profit soar in the six months to June 30 and the half-year dividend declared equated to last year’s full-year dividend. The Johannesburg- and New York-listed company, headed by CEO Nick Holland, announced attributable profit for the... 

Galiano appoints new COO

By: Creamer Media Reporter      17th August 2020 Ghana-focused Galiano Gold, formerly Asanko Gold, on Monday announced the appointment of Matt Badylak as executive VP and COO with immediate effect. He would be based in the company's head office in Vancouver. The appointment follows the recent death of former COO Josephat Zvaipa, who died... 

African Continental Free Trade Area could boost regional income by $450bn by 2035 

By: Terence Creamer     14th August 2020 The African Continental Free Trade Area could, a new World Bank report asserts, boost regional income by 7%, or $450-billion, by 2035 and help offset the negative effects of the Covid-19 pandemic, which is expected to cause up to $79-billion in output losses in Africa this year. If fully... 

Mponeng transfer to Harmony expected soon – AngloGold 

By: Martin Creamer     11th August 2020 The transfer of Mponeng gold mine to Harmony Gold is down to Department of Minerals Resources and Energy approval under legislation relating to mine transfer, according to outgoing AngloGold Ashanti CEO Kelvin Dushnisky. Answering analysts questions following the presentation of the company’s... 

Occidental discusses $4.5bn asset sale to Pertamina

By: Bloomberg     30th July 2020 Occidental Petroleum Corp is in talks about a potential sale of energy assets in Africa and the Middle East to Indonesia’s state-owned PT Pertamina, people with knowledge of the matter said. Pertamina is negotiating the acquisition of oil and gas stakes in countries including Ghana and the United... 

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