Kinros Gold Miner Reels From ‘Resource Nationalism’ in Ghana and Mauritania

    Kinros Gold Miner Reels From ‘Resource Nationalism’ in Ghana and Mauritania  Kinross Gold is the latest miner to be hit by changing policies in Africa as governments seem increasingly willing to upend historic deals with foreign companies in their quest for more mining revenue. Mauritania’s rejection of a key permit to expand a Kinross project, and a proposed mining code review…

Glencore’s Penchant for Murky Business Could Unravel in DR-Congo

  Glencore’s Congo Mining Conundrum Miner and commodities trader Glencore is embroiled in a legal tangle over its copper and cobalt operations in Democratic Republic of Congo, where conflict and changes to regulations have deterred many mining firms. US sanctions on Glencore‘s former Israeli partner in Congo have been a trigger for litigation. At the same time, relations with the Congolese authorities are under strain from a dispute…

South Africa Escaped Recession in 2017. So What? It’s Still in a Pickle.

  Encouraging data give weight to Finance Minister Nhlanhla Nene’s statements on South Africa’s growth forecasts Economic growth accelerated for the first time in four years in 2017, with continued strong recovery in agriculture, giving weight to Finance Minister Nhlanhla Nene’s statements that growth forecasts will probably be revised upwards. Revisions to historical data in…

African Mining Still Wracked by Trust Deficit Between Miners and Host-Govts/Communities

  African Mining Still Wracked by Trust Deficit Between Miners and Host-Govts/Communities The conclusion of the eighth MineAfrica panel discussion at the Prospectors and Developers Association of Canada conference on Sunday was that “endemic mistrust between private sector miners and African jurisdictions belies the spirit and objectives set out in the African Union’s African Mining Vision.” According…

Zambia: Corruption, Creeping Authoritarianism and a Foreign Minister’s Resignation

Zambia’s foreign minister has announced his resignation in a scathing Facebook post, denouncing the country’s “path of insatiable greed and shame”. Henry Kalaba said his decision was prompted by the “swelling” levels of corruption “perpetrated by those who are expected to be the solution”. Analysts suspect the move is an attempt to pressure President Edgar…

Will DR Congo Finally Face Down Miners’ Pressure Again Over Revised Code?

  Will DR Congo Finally Face Down Miners’ Pressure Again Over Revised Code? The air is rife again with speculations over whether the government of the Democratic Republic of Congo will again succumb to pressure by mining companies that proposed changes to the mining code adopted by the lower house of parliament last week would do lasting damage to…

Resource Nationalism Encore: Zambia Wants Bigger Stake in Copper Mines

  Resource Nationalism Encore: Zambia Wants Bigger Stake in Copper Mines Following the sharp rise in copper prices this year Zambia‘s State-controlled firm ZCCM Investments Holdings wants to increase its stakes in the country’s mines and also expects higher dividend payments, its chief executive said on Wednesday. ZCCM-IH, which was formerly called Zambia Consolidated Copper Mines Investment Holdings, has assets of about…