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…
Gold plays an important part in central banks’ reserves management, and that’s why they are significant holders of gold. IMF IFS statistics tracks central banks’ reported purchases and sales along with gold as a percentage of their international reserves. Morocco’s gold reserves are estimated at 22.12 metric tons and are the fifth largest in Africa,…