Category: Mining
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China, DR Congo discuss $7bn minerals-for-infrastructure deal
PRESIDENT Felix Tshisekedi announced on Saturday that China and the Democratic Republic of Congo are in discussions regarding a substantial $7bn in financing as part of a renegotiated minerals-for-infrastructure deal. This revelation came during Tshisekedi’s second inaugural address at the national stadium in Kinshasa. President Tshisekedi has been advocating for the restructuring of a 2008…
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Ivanhoe Mines and Gécamines joint venture to revive historic mine in DRC
IVANHOE Mines has announced a pivotal joint venture with state-owned mining company Gécamines to resurrect operations at the historic Kipushi zinc/copper/silver mine in the Democratic Republic of Congo (DRC). The collaboration signals a significant stride towards the mine’s revival, with production slated to commence in Q2 2024, marking the end of a nearly century-long hiatus.…
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Illegal gold mine collapse claims 22 lives in Tanzania
A TRAGIC incident unfolded in northern Tanzania as an illegal small-scale gold mine collapsed, claiming the lives of at least 22 people. The catastrophe occurred in the Simiyu region following heavy rains, according to a senior government official. Simon Simalenga, the Bariadi district commissioner for the Simiyu region, revealed that the accident took place early…
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Saudi Arabia inks strategic mining collaborations with Egypt, Morocco, and DRC
IN a landmark series of developments, Saudi Arabia has solidified its commitment to global mining collaboration by signing memorandums of understanding (MOUs) with four nations during the Future Minerals Forum in Riyadh. The nations involved in these strategic deals are Egypt, Russia, Morocco, and the Democratic Republic of Congo. The MOUs with Egypt’s Ministry of…
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De Beers proceeds with $1bn investment in Botswana’s Jwaneng mine
GLOBAL diamond giant De Beers said it will go ahead with a planned $1bn investment to extend the life of its flagship Jwaneng mine in Botswana, even as last year’s downturn in gem demand persists. The Anglo American unit and the Botswana government, which jointly own Debswana Diamond Company, have approved the spending that will…
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$20bn Guinea Simandou iron ore project set to launch after decades-long wait
THE long-awaited $20bn iron ore, rail, and port project in Guinea, known as the Simandou project, is finally on the cusp of initiation after grappling with a tumultuous 27-year journey marred by legal and political impediments. This ambitious project, expected to become the largest and highest-grade new iron ore mine globally, is poised to contribute…
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Does the ‘clean energy’ mineral rush neglect Africa’s development?
A RECENT report from UK- and US-based nonprofit Global Witness captures the details of how a new mining rush driven by demand for ‘clean energy’ minerals can go wrong, reproducing the same model of extractivism that has impoverished African countries for centuries. ‘Sheer mineral wealth hasn’t always translated into development, particularly for the communities who live next…
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Ghana’s first lithium mining lease sparks controversy
IN a groundbreaking move, Ghana has entered into its first lithium mining lease agreement with Atlantic Lithium of Australia, signed in October 2023. However, the deal has sparked a national debate on its fairness and transparency, drawing scrutiny from various sectors of society. Defended by the Minister of Lands and Natural Resources, Samuel Abu Jinapor,…
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15 miners trapped in Zimbabwe mineshaft collapse
A DEVASTATING incident unfolded at Redwing Mine in Zimbabwe’s Penhalonga area, as an NGO revealed that around 15 miners are feared dead following a catastrophic mineshaft collapse on Thursday. James Mupfumi, the director at the Centre for Research and Development, relayed the grim news, citing that the accident occurred when a shaft at the mine…
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Africa’s critical mineral investments soar in 2023: top five deals unveiled
IN the midst of the global energy transition, Africa’s critical mineral reserves have become the focal point of strategic investments, with an influx of deals and cooperation agreements shaping the continent’s role in the development of solar photovoltaic technology, wind farms, and electric vehicles. As the world’s largest economies vie for control over critical mineral…