The UAE’s International Resources Holding (IRH) has retracted its proposal to acquire a controlling stake in Vedanta Resources Ltd’s Zambian copper mines. The decision follows a failure to agree on asset valuation, IRH announced on Wednesday July 3, 2024. IRH, a division of the UAE’s International Holding Company (IHC), had initially presented a $1 billion…
Zambia’s cabinet has approved the establishment of a special purpose vehicle (SPV) to manage the country’s mineral wealth, marking a significant shift in its approach to exploiting its natural resources. The new entity, which will be responsible for investing and trading in minerals, aims to move away from the traditional dividend payment model and adopt…
Rwanda is actively revising its mineral taxation policies, aiming to enhance domestic value addition to minerals and curtail the export of unprocessed raw materials. This initiative, encapsulated in a proposed bill currently under review in parliament, is poised to replace the existing 2013 mineral tax legislation. The rationale behind the bill, as detailed in an…
The IMF’s April 2024 report spotlights Sub-Saharan Africa. The region holds 30% of the planet’s key minerals. As the world embraces clean energy, the area is poised for economic change. Vital for tech like electric cars and renewable power, these minerals promise progress. Rich in cobalt, lithium, and manganese, the region could see a 12%…
Toronto Annual Mining Insight: The 2024 annual mining conference in Toronto, celebrated as the world’s premier mining event, recorded an unprecedented attendance of 26,926 participants. Critical minerals dominated discussions, spotlighting Canada’s role and Africa’s vast resources. Africa – A Treasure Trove of Critical Minerals: Ray Goldie, president of the Prospectors and Developers Association of Canada,…
Uganda possesses an abundance of critical mineral resources, such as gold, uranium, limestone, marble, graphite, iron, copper, and cobalt, which hold significant potential to facilitate the nation’s transition to a green economy. These resources were instrumental to Uganda’s economy in the past, contributing up to 35% of the country’s export earnings during the 1950s and…
In a significant policy pivot aimed at bolstering domestic value addition and attracting investment, the Nigerian government has declared a new directive that mandates mining companies to commit to local processing of minerals to be eligible for mining licenses. This approach marks a departure from the nation’s traditional strategy of exporting unprocessed raw materials. According…
In the shadow of the global geopolitical chessboard, the United States is strategically broadening its alliances, eyeing Africa’s rich mineral deposits as a counterbalance to China’s and Russia’s dominance in the critical minerals market. Deputy Treasury Secretary Wally Adeyemo’s recent remarks underscore America’s intent to diversify its supply chains away from these geopolitical rivals, signaling…
Burkina Faso’s junta-led government recently initiated the construction of its inaugural gold refinery, aiming to refine the country’s primary mineral resource on-site. With a daily capacity of approximately 400 kilograms (880 pounds) of gold, the refinery is anticipated to generate 100 direct jobs and 5,000 indirect employment opportunities, as announced by Ismael Siby, CEO of…
The Kenya Chamber of Mines (KCM) and the Association of Women in Energy and Extractives in Kenya (AWEIK) jointly organized the Kenya Mining Week on 17th – 18th July 2023 at Radisson Blu, Upperhill, Nairobi. The event aimed to address crucial aspects of Kenya’s mining sector and promote economic growth with a focus on inclusivity.…