Nigeria Wants $21bn It Hasn’t Bothered to Collect From Offshore Oil Companies Since 1993

  Nigeria Wants $21bn It Hasn’t Bothered to Collect From Offshore Oil Companies Since 1993 Nigeria wants deep offshore oil companies to pay at least $21 billion, money that oil-rich but chronically mismanaged country says oil companies owe but has not bothered to collect since 1993. The situation may soon change if the government succeeds…

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…

Anglo-American CEO Threatens South Africa With Another 100,000 Mining Jobs Loss

  Anglo-American CEO Threatens South Africa With Another 100,000 Mining Jobs Loss In a veiled threat to the South African government, Anglo American CEO Mark Cutifani has predicted the South African mining industry would lose another 100 000 jobs, unless the government “changed.”  Mr. Cutifani’s supporters are quick to remind that six years ago (2010), the outspoken Australian had predicted…

Sierra Leone’s “Peace Diamond” Sells for $6.5m in New York

    Sierra Leone’s “Peace Diamond” Sells for $6.5m in New York Sierra Leone’s giant 709-carat diamond has sold at auction in New York for $6.5m ($4.8m; €5.5m), Monday, December 4th, 2017. Laurence Graff, chairman of Graff Diamonds, won the precious stone – nicknamed the “peace diamond” – in bidding on Monday. Half of the…

World Bank Supports Sierra Leone’s Mining Sector With $20 Million Grant

     World Bank Supports Sierra Leone’s Mining Sector With $20 Million Grant November 29, 2017 Publisher and Chief Executive Officer KABS KANU ACTION NEWS,COMMENTARY 0   Sierra Leone will receive a US$20 million International Development Association (IDA) Grant for the second phase of the Extractive Industries Technical Assistance Project (EITAP 2) to help strengthen governance, increase geological knowledge,…

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…

Russia Bets on “Voracious” China With $6 Billion Fertilizer Mines

    Russia Bets on “Voracious” China With $6 Billion Fertilizer Mines   MOSCOW – China’s dilemma of how to feed its booming population will partially be answered by fancier fertilizers, according to one of the world’s richest billionaires. EuroChem Group AG, owned by Russian commodities tycoon Andrey Melnichenko, is spending over $6-billion on two mines…

Mali’s 2016 State Mining Revenue Crawls as Gold Miners Smile to the Bank

12TH SEPTEMBER 2017 BY: REUTERS BAMAKO – Mali‘s State revenues from mining companies rose 1% last year to 247.3-billion CFA francs ($454-million) from 2015 due to a rise in gold prices, the mining ministry said on Tuesday. Mali is the third-biggest gold producer in Africa after South Africa and Ghana, and gold overwhelmingly dominates its mining sector, which provides about a quarter of government revenues. Mamadou Sidibe, deputy director of statistics and planning at…