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Diamond: Namibian Namdeb sells his Elizabeth Bay mine

Namdeb Holdings Limited, a diamond joint venture owned equally by the Namibian government and South African De Beers Group, announced the sale of its Elizabeth Bay mine to the Lewcor consortium. The transaction, worth 120 million Namibian dollars ($8.23 million), was announced on Thursday, September 12 by press release and closes Namdeb’s efforts since 2018…

Russian Lukoil gains a foothold in Congo-Brazzaville

Wishing to sell its 25% stake in the Marine XII oil block, located off the coast of the Republic of Congo, the British company New Age finally found a buyer with the Russian Lukoil, which thus gains a foothold in the Central African country. The acquisition of shares in the offshore hydrocarbon project, which was…

Guinea: HPX recovers the exploitation of the Mount Nimba iron orebody

The American mining exploration company High Power Exploration (HPX), controlled by Canadian businessman Robert Friedland, has been in discussion with the Guinean authorities for several months and has reached an agreement with the West African country to resume mining of the Mount Nimba iron ore deposit. Signed on 5 September in Conakry, in the presence…

OCP on the offensive in Ghana.

On the sidelines of the African Green Revolution Forum, held in Accra from 3 to 6 September, Ghana’s Ministry of Food and Agriculture and the Cherifian Phosphate Office (OCP) signed a series of agreements, including on soil mapping and innovation in the agricultural sector. As the spearhead of the Cherifian kingdom’s South-South cooperation policy, OCP…

South African Labat Africa is getting into cannabis

So far active in the logistics and distribution sectors, South African company Labat Africa has announced its first investment in the legalized cannabis sector. It is thus becoming one of the first listed firms on the continent to enter this booming segment. A small, trouble-free company listed on the Johannesburg Stock Exchange since 1999, Labat…

Rice will soon be listed on the Ghanaian Commodity Exchange.

Launched in November 2018, the Ghana Commodity Exchange (GCX) continues to expand. In a statement issued on Monday, September 2, the Ghana Commodity Exchange announced that it will list paddy rice by the end of the year, making it the third most traded agricultural commodity after maize and soybeans. To best structure this new sector,…

Marie-Chantal Kaninda leaves the World Diamond Council for Glencore.

After two and a half years at the head of the World Diamond Council (WDC), Congolese Marie-Chantal Kaninda joins the staff of the commodities trader Glencore in the Democratic Republic of Congo (DRC), where she will serve as Executive Director & Head of Corporate Affairs. Marie-Chantal Kaninda joins Glencore DRC as Executive Director & Head…

The French sugar manufacturer Tereos sabre in its African activities

Hit hard by the fall in prices, the sugar manufacturer confirmed that it will soon cease its activities in South Africa and Kenya. With a price halved over the past three years, the fall in sugar prices continues to cause casualties in the sector. In line with the difficulties faced by many of its peers,…

Rwanda and Zimbawe formalize their cooperation in the mining sector

The Rwandan and Zimbabwean governments signed a Memorandum of Understanding on Tuesday 27 August on cooperation in the mining sector. Announced on Thursday by the Rwanda Mines, Petroleum and Gas Board (RMB), it was signed in Harare during the visit of a delegation of Rwandan officials. Among the main objectives set, Kigali and Harare wish…

Ivorian Cocoa: agreement in sight?

Determined for months to find a solution to better remunerate cocoa producers, the Ivorian authorities have, according to local media reports, concluded an agreement with traders and industrialists in the sector in order to obtain « 200 CFA francs of addition » on the guaranteed price of the bean. The information, which has yet to be confirmed,…

Kenya exports its first barrels of oil

The long-awaited export of the first barrels of oil stamped « Kenya » became a reality on Monday 26 August. Kenyan Head of State Uhuru Kenyatta, who was present at a ceremony in the port of Mombasa, displayed the national flag aboard the tanker carrying 200,000 barrels of oil extracted from the country’s first onshore fields in…

South Sudan discovers its first oil field since independence

In the wake of Wednesday’s announcement by the Dar Petroleum Operating Company (DPOC), the Ministry of Petroleum of Southern Sudan confirmed on Thursday that the country had made its first oil discovery since the declaration of its independence in 2011. According to information provided by DPOC, a consortium of oil companies that includes Malaysia’s Petronas,…

Mali tightens its new mining code

The new Malian mining code, which has been in the making for months, is now on track. A regulatory text that will be much more binding for operators in the sector. « On the report of the Minister of Mines and Petroleum, the Council of Ministers has adopted a draft ordinance on the Mining Code in…

Madagascar: the « green gold » rush and its perverse effects

Hery Andriamiandra et Jacques Leroueil Very high, the current price of vanilla is doing business in Madagascar, the world’s leading producer. But behind the windfall effect, there are many negative consequences. Decryption. « One vanilla ice cream for every accompanied child », « Two scoops of vanilla ice cream for the price of one! ». In this summer season,…

Nigeria sentenced to pay $9 billion for aborted gas project

$9 billion. This is the enormous amount of damages that the Nigerian government could be forced to pay to the energy company Process & Industrial Developments Ltd. (P&ID) for failure to carry out a gas project. In a decision handed down on Friday 16 August by a London court, the firm, which is partly owned…

Nigeria no longer wants food imports

In Nigeria, the protectionist screw-turn continues to tighten. After the recent restrictions on imports of milk and textile products, it is now the turn of other imported foodstuffs to be put on the sidelines. In a statement issued on Tuesday, the Nigerian presidency announced that Head of State Muhammadu Buhari had asked the Central Bank…

Congo-B: a new onshore field that could change the situation

Currently producing 350,000 barrels of oil per day, Congo could quadruple its capacity in the coming years. In any case, this is the bet of two Congolese oil companies, which presented, on Saturday, August 10 in Oyo, the details of the first onshore oil field discovered in the Cuvette region. Known as the « Delta de…

Washington would consider a project for an embargo on Ivorian cocoa

According to the Washington Post, the US Congress is considering banning cocoa imports from Côte d’Ivoire, the world’s largest producer and exporter of brown gold. Already concerned about the question of the floor price of beans, the Ivorian cocoa sector may soon have a new cause for concern. According to the American capital’s daily newspaper,…

Zambia: Mopani Copper Mines, a Glencore subsidiary, reduces its activity

Under pressure, Glencore’s Zambian copper subsidiary has announced its intention to close two shafts at its Nkana mine. This announcement reflects the Anglo-Swiss group’s desire to refocus on more profitable activities. In the African subsidiaries of Glencore, the commodity trading giant affected by the fall in prices, the time has come for restructuring. After the…

AngloGold Ashanti driven by a gold price at its highest level in 6 years

When the gold goes, everything goes. This is how the latest excellent half-yearly results of AngloGold Ashanti from South Africa could be summarised. Driven upwards by an ounce of gold that on Wednesday exceeded the symbolic threshold of $1,500, the first since April 2013, the continent’s leading gold digger by production (3.4 million ounces in…

Kenyan farmers grind black (tea)

Green gold has rarely been so poorly named: with an average price of less than $2 per kilo, prices have reached their lowest level since 2014, according to the East African Tea Trade Association (EATTA), the umbrella organization representing the interests of the sector in the sub-region. In the port city of Mombasa, one of…

Côte d’Ivoire driven by its agricultural exports

The recent clash between the Ivorian and Afghan authorities and cocoa traders almost made us forget the main thing: Ivorian agricultural exports are doing well. Published on 31 July, provisional statistical data from the Ivorian port authorities confirm a solid increase in the volumes of the main agricultural export products in the first half of…

Glencore leaded by its African copper activity

In the wake of the poor performance of its operations on the continent, the mining and trading group published lower than expected half-year results. For the Anglo-Swiss commodities giant Glencore, the first half of 2019 is to be forgotten. After acknowledging at the end of April that it was the subject of an investigation by…