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Power Africa moves towards its goal of bringing more energy to the continent

By: Kim Cloete     16th May 2019 Power Africa, which was launched by former US President Barack Obama six years ago, is working towards its target of providing energy access to an additional 60-million new homes and businesses and adding 30 000 MW of cleaner, more efficient electricity generation capacity on the African... 

Top oil buyers rue global chaos bringing back seller's market

By: Bloomberg     6th May 2019 The world’s biggest oil buyers are being forced to go on the defensive once again. US President Donald Trump’s sanctions on Iran and Venezuela, the Opec+ coalition’s output curbs, and disruptions from Nigeria to Libya are all handing crude sellers the upper hand in negotiations. With refiners in... 

Glencore faces new corruption investigation with CFTC probe

By: Bloomberg     26th April 2019 Glencore said it’s under investigation by the US Commodity Futures Trading Commission for possible corrupt practices, the latest legal headache for the world’s biggest commodity trader. The probe comes after the London-listed company was subpoenaed last year by the US Justice department for... 

Gold worth billions smuggled out of Africa

By: Reuters     24th April 2019 Billions of dollars' worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East – a gateway to markets in Europe, the United States and beyond – a Reuters analysis has found. Customs data shows that the UAE imported $15.1-billion worth of gold... 

Thor Explorations secures $78m for Nigeria project’s construction

By: Tasneem Bulbulia     15th April 2019 TSX-listed Thor Explorations has executed an agreed term sheet with pan-African development finance institution, the Africa Finance Corporation, for a $78-million financing package for the construction and ramp-up of its Segilola gold project in Nigeria. This follows the completion of a... 

West African mining rising steadily

By: Mamaili Mamaila     12th April 2019 Mining activity in West Africa is increasing and this trend is likely to continue. New mines have been established in Mali over the past few years, as well as in countries, such as Liberia, which are not traditionally associated with mining, says engineering consulting company SRK Consulting... 

Demand for outsourced solutions rising in Africa

By: Jessica Oosthuizen     12th April 2019 Mineral discoveries in Africa have been on the increase in the past ten years and one of the major challenges for mines is finding expert solutions in countries that have developing mining ecosystems, says global boutique consultancy The Polyglot Group renewables and resources senior consultant... 

Nearly 2 000 Zambian villagers can sue Vedanta in English courts – Supreme Court

By: Reuters     10th April 2019 Nearly 2 000 Zambian villagers have the right to sue mining company Vedanta in the English courts, London's Supreme Court said on Wednesday, raising the prospect other companies could face legal action in England related to their activities abroad. India-listed Vedanta, which delisted from London... 

Nigeria suspends mining in Zamfara state after banditry surges

By: Reuters     8th April 2019 Nigeria has suspended mining in the restive northwestern state of Zamfara, a presidential aide and the police chief said on Sunday, amid concerns that illegal miners were connected to a surge in banditry. The suspension underscores the breakdown of security in a part of the country where the... 

Exxon weighs sale of Nigerian oil and gas fields for up to $3bn

By: Reuters     2nd April 2019 Exxon Mobil recently held talks on the sale of a suite of oil and gas fields in Nigeria as the company focuses on new developments in US shale and Guyana, industry and banking sources told Reuters. The potential disposals are expected to include stakes in onshore and offshore fields and could... 

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