Gold Tumbles, Then Rebounds as Other Commodities Crash on Trump’s Tariffs

Gold Tumbles, Then Rebounds as Other Commodities Crash on Trump’s Tariffs Gold was flat on Friday while silver, copper and oil all fell on the back of the Trump administration’s tariffs announcement.   The gold price rebounded on Friday (March 2) after Thursday (March 1) saw the yellow metal record its first monthly loss since October. The precious…

Optimism and Unaddressed Challenges After AU Summit

Optimism and Unaddressed Challenges After AU Summit by Ahmedou Ould-Abdallah   Those concerned about the current and future state of their countries were optimistic that the now-concluded African Union (AU) Summit would result in a successful push towards achieving the goals of socio-economic development on the continent. Such high expectations were dampened by the fatigue born out of the…

Burkina Faso’s $1bn Manganese Project Seeks New Partners

 Burkina Faso is looking for a new partner to mine the world’s largest manganese deposit after rights disputes thwarted two earlier attempts to develop the $1-billion project. Pan African Minerals, a unit of Timis Mining, was told to stop production at the Tambao mine in 2015 following a change in leadership in the West African nation. The company then petitioned the International…

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…

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…

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,…