Rwanda Targets $2bn Investments for 50 Mining Licenses in 2018

 Rwanda will issue 50 new licences to mine metals including gold, tin and tantalum this year that may help boost investment in the East African nation by a fifth, the Rwanda Development Board said. The state-run board expects to attract $2-billion of investment in 2018, compared with $1.67-billion last year, CEO Clare Akamanzi said in an interview in the capital, Kigali. It’s…

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Debt & Political Risks: Glencore Is Mortgaging the Future of Africa’s ‘Oil-Cursed’ Countries

Congo Republic is set to become the latest African country to start debt relief talks with trading houses after borrowing $2-billion from merchants such as Trafigura and Glencore but now finding its debt levels unsustainable, sources familiar with the matter said. Trading houses regularly lend money to resource-rich clients in financial distress – be it countries such as Congo, Chad, Morocco or Iraq‘s Kurdistan region…

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Electric Vehicle Revolution Fueling Child Labor in Cobalt Mines in the Congo

Another case of “blood minerals” has been brewing in the Democratic Republic of the Congo, and indeed several African countries. It’s fueled by the hunt for cobalt to meet the growing appetite for electric cars around the world. The appetite for electric cars is driving a boom in small-scale cobalt production in the Democratic Republic of Congo,…

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Africa’s Infrastructure Landscape to Change As Islamic Development Bank Joins Forces With China-Led AIIB Partnership

   Bandar Hajjar, IDB president: ‘We will co-finance many projects [with AIIB] in the future. Africa needs . . . about $150bn a year to finance infrastructure’    The largest development organisation in the Muslim world, the Islamic Development Bank, is set to ramp up its fundraising activities and form a partnership with the China-led Asian Infrastructure Investment Bank…

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World’s Biggest Miners Out of the Hole, Splash $200bn Comeback to Investors

Rio Tinto, BHP and Glencore dig up boom-era profits again, rewarding investors and looking for deals The world’s biggest mining companies are again poised to shower investors with billions of dollars and make deals, a turnaround fueled by the global economy’s renewed appetite for raw materials and by the burgeoning electric-vehicle market. Four of the…

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Ramaphosa Set to Fire Malusi Gigaba as SA Finance Minister Before Budget

Speculations are rife that South Africa’s new President Cyril Ramaphosa will reshuffle the cabinet and replace Finance Minister Malusi Gigaba before the 2018 presentation of the budget to parliament on Wednesday. Ramaphosa was sworn in as head of state on Thursday after his scandal-plagued predecessor, Jacob Zuma, reluctantly resigned on orders of the ruling African…

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Ramaphosa’s Priorities: Big Government Confronts Capacity and Vested Interests

The much-anticipated State of the Nation Address (SONA) by South Africa’s new president, Cyril Ramaphosa has come and gone. While the deserved euphoria lasts, one critical discernible theme in the SONA is the yawning gap in “capacity” to manage public institutions. Unsurprisingly, President Ramaphosa assured that he’d be embarking on a complete overhaul of state-owned enterprises…

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SA Mining Industry Will Smile Under Ramaphosa’s Presidency

 There’s excitement in the mining industry in South Africa. Perhaps, they should be excited because one of their own has just been inaugurated President of the Republic. But, Herbert Smith Freehills partner and Africa co-chairperson, Peter Leon is cautiously optimistic that the changes signaled by newly elected President Cyril Ramaphosa will benefit South Africa’s economic recovery. In a speech to the British Chamber…

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