Ressources Magazine (en)

Isabel Dos Santos, the former president of Sonangol accused of "siphoning off the country's coffers".

Regularly cited among Africa’s biggest fortunes, the daughter of the former Angolan head of state is accused by a group of international journalists of having plundered part of the country’s wealth. A case that highlights the often porous nature of the relationship between business and

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Senegal: Australia's FAR raises $300 million to finance its share of the Sangomar oil project

The Australian junior FAR announced on Monday 20 January that it has secured a loan of 300 million dollars to finance its commitments in the offshore Sangomar project, Senegal’s first oil development block. With a 15% stake, the company is present alongside Woodside Energy (35%),

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DRC: Gécamines inaugurates the Deziwa mining site with its Chinese partner

The result of a joint venture between the China Nonferrous Metal Compagny (CNMC, 51%) and the Congolese state-owned mining operator Gécamines (49%), the mining company of Deziwa (Somidez) inaugurated its copper and cobalt refining unit on 15 January, located about 35 km east of the

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Nigerian Lekoil victim of a nearly $200 million scam

After welcoming the conclusion of a loan agreement with the Qatari sovereign wealth fund at the beginning of the month, the Nigerian oil company now claims to be the victim of « an attempted fraud ». The listing of Lekoil shares on the London Stock Exchange was

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Egypt wants its commodity exchange this year

Egypt, a major agricultural and economic power on the continent, is expected to launch its agricultural commodities exchange this year. A project that is constantly being discussed and that could (finally) succeed. The head of the Egyptian Internal Trade Development Authority, Ibrahim Ashmawy, confirmed on

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As 2019 draws to a close, Ressources looks back at the five highlights of African commodity news over the past twelve months To remember the highlights of a given period is to know how to distinguish the essential from the futile in a history in

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Cameroon: Castel announces future investments in the agri-food sector

Received by President Paul Biya in Yaounde, French businessman Pierre Castel has announced an investment programme in the Cameroonian agri-food sector. A financial commitment that reflects the desire of the eponymous group to better control the value chain. Having become France’s eighth wealthiest (14 billion

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Zambia joins club of African countries permitting cannabis cultivation

By allowing cannabis cultivation, Zambia becomes the fourth country in the region to liberalize the industry, attracted by its promising economic prospects. So, is this new « green gold » a future lever for growth or a mirror to the larks? In the wake of North American

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Why the IPO of Saudi Aramco will not make African emulators

The Saudi authorities have been calling for the mastodon Saudi Aramco – the world’s leading producer of black gold – to be listed on the stock exchange four years ago. What can we give ideas to African states that hold commodities assets? Nothing is less

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Senegal: Teranga Gold acquires Massawa mining project from Barrick Gold

Already active in Senegal with its Sabodala gold mine, Canadian Teranga Gold announced on Tuesday, December 10 that it has acquired a 90% interest in the Massawa gold project from its compatriot Barrick Gold and its Senegalese partner. A deal that should allow the buyer

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What will be remembered from the 2019 Abidjan Agriculture and Animal Resources Fair

Held from 22 November to 1 December at the initiative of the Ivorian government, the fifth edition of the International Exhibition of Agriculture and Animal Resources (SARA) in Abidjan was full and proved the dynamism of the Ivorian primary sector. According to the first assessment

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According to the Africa Energy Outlook report, it will be full gas for the African gas sector!

The African Chamber of Energy (ACE) published its first annual report on the continent’s energy outlook at the end of November. The study focuses in particular on the strong growth of the gas sector in the coming years. Launched on 28 November, the Africa Energy

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In Congo, the difficult transition to post-oil

After the crisis following the oil counter-shock of 2014-2016, Congo has returned to growth. A favourable economic situation that cannot avoid the need to continue diversifying the economy, which is more essential than ever. On July 10 and 11 in Pointe-Noire, the best of the

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The chromium and platinum specialist Tharisa is plagued by an unfavourable economic situation

Not surprisingly, the decline in chromium prices, combined with a contraction in production, weighed on the annual results of the Tharisa mine, which operates in South Africa and Zimbabwe. The company, which specializes in the production of chromium and platinum, announced on Thursday, November 28,

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Russia promises Angola financing in the energy sector

While in the Angolan capital, a delegation of the Russian government expressed its willingness to finance ten billion dollars worth of projects in the country, particularly in the energy sector. One month after the first Russia-Africa summit, held in Sochi from 22 to 24 October,

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Liberia obtains funding to strengthen its cocoa sector

The Government of Liberia and the International Fund for Agricultural Development (IFAD) signed two financing agreements on Thursday, November 21, for a total amount of $32 million. This contribution will mainly benefit the country’s cocoa sector. The signing ceremony took place in Monrovia, and brought

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Senegal: farmers contest the price of groundnuts proposed for the upcoming campaign

Expected for several weeks by the actors of the Senegalese sector, the price of groundnut proposed by the National Interprofessional Committee for Groundnut (CNIA) has finally been set at 210 CFA francs per kilo for the 2019/2020 season, which is due to open on Monday

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Rwanda is considering the use of methane as a fuel

Already used to produce electricity since 2015, the methane from Lake Kivu could soon also be used as cooking fuel in the homes of the Mille Collines country. This is in any case the wish of the Rwandan authorities who, at a meeting held on

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Lagos soon to be endowed with a commodity exchange

Lagos, the continent’s fourth-largest financial centre by market capitalization ($40 billion), is in the process of establishing a commodity exchange. This initiative is likely to further undermine its Abuja counterpart. After conducting a simulation exercise on November 15, the Association of Securities Dealing Houses of

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African cashew nuts increasingly in demand by Europeans

Published on 14 November, the latest cashew nut market newsletter from the agri-food consulting firm N’kalô confirms that the success of African cashew nuts with European consumers continues unabated. Over the first three quarters of 2019, the European Union’s cumulative imports from Africa increased by

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Guinea: SMB-Winning gains a foothold in the Simandou iron orebody

The Guinean-Chinese consortium Société minière de Boké (SMB-Winning) obtained on Wednesday 13 November the reallocation of Blocks 1 and 2 of the largest iron ore deposit on the African continent, Mount Simandou. Previously controlled by the Israeli mining operator Beny Steinmetz Resources Group (BSGR) –

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Ghana reaps first results of new cocoa price agreement

Following the agreement to establish a subsistence income differential of $400 per tonne, Ghana confirmed that it had sold nearly 200,000 tonnes of cocoa for the 2020/21 season. After several months of wrestling with the world’s major cocoa traders and the agreement reached at the

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Algerian NCA Rouiba in a difficult period

In an open letter, the management of the Nouvelles canneries algériennes de Rouiba (NCA-Rouiba), the Algerian leader in fruit-based drinks, reported the company’s serious financial difficulties. In this letter of 5 November addressed to its shareholders, consumers, suppliers and partners, Slim Othmani, the company’s Chairman

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Sesame and sorghum join the Ghanaian agricultural commodity exchange

Launched just over a year ago, the Ghana Commodity Exchange (GCX) started trading sorghum and sesame this week. The Ghanaian agricultural commodity exchange thus brings the number of agricultural products traded on its platform to five, alongside soya and white and yellow corn. « Just as

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African coffee now has its institutional support fund

The Inter-African Coffee Organisation (IACO), the International Coffee Organisation (ICO) and the Centre for Agriculture and International Biosciences (CABI) jointly launched the African Coffee Fund on Tuesday 5 November in Nairobi, at a donor conference. First raised in February 2018 by the OPCW during the

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Nigeria: President Buhari signs new oil law, tougher on majors

Engaged in a fierce battle with the sector’s majors, the Nigerian presidency confirmed on Monday 4 November that it had signed the draft amendment to the oil law, which will significantly increase the country’s share of revenues… to the detriment of foreign companies. Nigerian President

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Fertilizer: Ethiopia ready for joint venture to complete Yayu complex

Tired of the limited progress of the Yayu fertilizer plant project, entrusted to the military-industrial public conglomerate Metals & Engineering Corporation (Metec), the Ethiopian government has decided to open an international tender to establish a joint venture to complete this industrial complex. The country’s authorities

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Madagascar: the vanilla sector not sufficiently competitive according to the World Bank

In its latest economic outlook note on the Big Island, the World Bank goes into detail on the need to reform certain key sectors, in particular the very strategic vanilla sector. After recalling in the preamble that the country’s growth should reach 4.7% of GDP

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Mauritania: Kosmos discovers a new offshore gas field

Mauritania is definitely doing quite well at the junior Kosmos Energy! After revealing the mega-tortuous Grand-Tortue deposit in 2015, the American company announced on Monday 28 October that it had again made a major natural gas discovery off the Mauritanian coast, drilling the Orca-1 well.

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