The Economic Community of West African States (ECOWAS) is unlikely to impose economic sanctions on Guinea after a military junta ousted former president Alpha Conde last week, according to a Verisk Maplecroft analyst. Any economic sanctions would likely only target key officials in the military junta and...
South African state-owned utility Eskom has announced a pilot programme which will allow companies connected to its grid to use electricity produced exclusively from renewable sources. The two-year programme comes after Eskom unveiled plans to invest US$7.2 billion in renewable energy over the next nine years,...
A new quarterly market report by analysts at AfricanFinancials Group has placed Safaricom as the most valuable brand in East Africa in the three months ending June. The research piece, titled The East Africa & Mauritius Top 30 Companies, estimated the Kenyan telecoms giant’s market capitalisation...
Nigeria’s Minister of Mines has hailed the country as ‘the next big frontier mining destination’ after Thor Explorations produced first gold at its open pit Segilola mine in Southwestern Nigeria. In a statement on Friday, Minister of Mines Olamilekan Adegbite said the first pour of gold...
Barrick Gold has signed four gold exploration deals worth up to US$8.8 million in Egypt’s Eastern Desert, after succeeding in an international tender launched by the North African nation last year. Earlier this week, Egypt’s Ministry of Petroleum and Mineral Resources announced the news that Barrick will...
The Government of Burundi in East Africa has suspended operations at several mines run by international mining companies, citing an unfair share of income from the country’s mineral wealth. In a letter to the seven targeted companies of British, Chinese and Russian origin, Mines Minister Ibrahim...
TSXV-listed explorer Newcore Gold has seen its share price rise after yesterday announcing results from a 66,000 metre drill programme at its 100%-owned Enchi Gold Project in Ghana, West Africa. The programme targeting the Boin Gold deposit intersected the highest grade interval recorded to date on...
The South African rand has hit a three-month low and stocks of property firms and retailers dropped as much as 7% in a single day, following the nation’s worst civil unrest in years which has resulted in more than 70 deaths. Rioting initially linked to...
SoftBank Group and Smart Africa Alliance have signed a Memorandum of Understanding (MoU) focusing on new ways to provide affordable and accessible internet connectivity to Africa’s underserved regions and to bridge the digital divide on the continent. Through various projects and activities, Smart Africa – an...
B2Gold has begun international arbitration proceedings against the Republic of Mali, relating to its Menankoto exploration permit around 20 kilometres North of the Fekola Mine licence area. The action, which is being undertaken via B2Gold’s Malian subsidiary Menankoto SARL, argues that Mali breached its obligations to...