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Africa Mining

Another cobalt bust but this time it’s different – by Andy Home (Reuters – February 6, 2025)

https://www.reuters.com/

The cobalt market is no stranger to boom and bust cycles but the current downturn is unprecedented and no-one is sure how long it’s going to last. London Metal Exchange (LME) cobalt has imploded from a high of $82,000 per metric ton in April 2022 to $21,550, the lowest level since the contract was launched in 2010.

Once again the market has been swamped by over-production in the Democratic Republic of Congo, the world’s dominant source of the battery metal. But while it was an artisanal mining surge that caused the bust of 2018-2019, this time around it’s China’s giant CMOC Group.

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De Beers seals sales and mining contract with Botswana – by Cecilia Jamasmie (Mining.com – February 3, 2025)

https://www.mining.com/

De Beers, the world’s leading diamond producer by value, has concluded negotiations with the Botswana government on a new sales agreement and the extension of mining licenses for their joint venture, Debswana, until 2054.

The finalized agreement, the Anglo American (LON: AAL) unit said on Monday, follows discussions aimed at setting a new framework for the sale of rough diamond production from Debswana, a 50:50 partnership between De Beers and Botswana. The deal also secures the renewal of Debswana’s mining licenses, which were previously set to expire in 2029.

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Mining Indaba: US trade aggression could stall African metals investment, deepening supply gap – by Henry Lazenby (Northern Miner – February 3, 2025)

https://www.northernminer.com/

U.S. protectionism could stall mineral processing investment around the world as supply shortages threaten to squeeze markets, an industry conference heard Monday in Cape Town, South Africa.

New trade measures have created uncertainty. They could delay projects needed to close a widening production gap, Standard Chartered Bank’s global head for metals and mining, Richard Horrocks-Taylor, said at the Investing in African Mining Indaba. The new U.S. tariffs announced this weekend may trigger growth shocks and spark inflation, he said.

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The new mining in Africa game has no rules – by Claude de Baissac (Business Live – February 2, 2025)

https://www.businesslive.co.za/

Mining companies that fail to grasp the complexity of the new era risk being caught in the crossfire

Africa’s mining sector is vital to the fortunes of the continent, central to the strategies of many mining companies, and key to strategic industries thanks to its vast reserves of critical minerals. Today it stands at the edge of a new and highly disruptive era. Opportunities abound. But so do risks.

Intensifying and hardening geopolitical competition, the global race for strategic minerals and resurgent resource nationalism are fast converging. The cards are being redistributed, the rules redrawn, and the game itself is changing.

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Blood minerals in DR Congo – by Harriet Marsden (The Week – January 28, 2025)

https://theweek.com/

Battle for control of central African nation fuelled by increasing demand for minerals crucial in manufacture of smartphones and laptops

“The source of misery for the people of the eastern Democratic Republic of Congo lies in the vast natural treasures beneath their feet,” said The Times. The region boasts a “dizzying array” of riches, such as gold and diamonds, but the “most coveted are the lesser known”: coltan, cobalt and other minerals “crucial in the production of laptops and smartphones”.

It is “no coincidence” that violence has increased alongside consumer demand for tech. But while the slogan “blood diamonds” helped to ease conflicts elsewhere in Africa, a “similarly murderous hunt for smart-tech minerals” has only intensified in the DRC, displacing seven million and “condemning a region to perpetual chaos”.

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M23 rebels in Goma: gains to boost illicit mineral trade through Rwanda, analysts say – by Sonia Rolley and Felix Njini (Reuters – January 28, 2025)

https://www.reuters.com/

Jan 28 (Reuters) – A lightning advance in Congo’s mineral-rich eastern borderlands is set to boost the M23 rebellion’s illegal mining revenues, with analysts predicting a further surge in illicit trade in minerals including coltan and gold through neighbouring Rwanda.

The Rwanda-backed insurgency entered Goma, eastern Democratic Republic of Congo’s largest city, this week, marking a major turning point in a conflict with government forces that has raised fears of a spillover into a broader regional war.

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Rwandan-backed rebels capture Goma in dramatic escalation of Congo war – by Geoffrey York (Globe and Mail – January 28, 2025)

https://www.theglobeandmail.com/

A heavily armed Rwandan-backed militia marched into the strategic city of Goma in eastern Congo on Monday, seizing control of most of the regional hub in defiance of United Nations demands for its withdrawal.

Goma, a crowded city of two million residents and several hundred thousand refugees near the Rwandan border, has been under siege by the M23 militia and its Rwandan allies for the past year. The M23 offensive, including frequent attacks on civilians, has forced more than a million people to flee from their homes across the eastern region of the Democratic Republic of the Congo, with many seeking shelter in Goma.

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A South African horror story: Illegal mining standoff draws to an end – by Kate Bartlett (NPR.org – January 17, 2025)

https://www.npr.org/

STILFONTEIN, South Africa —They look like the walking dead. Dusty men, skin and hair caked in dirt, skeletal. Some struggle to walk and collapse. They blink like moles in the harsh South African sunlight. Some look painfully young.

Operations to rescue hundreds of illegal miners at an abandoned gold mine in Stilfontein, a small mining town about 100 miles Southwest of Johannesburg, started Monday and ended Thursday when rescuers said there was no longer anyone left in the shaft.

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Standoff in South Africa ends with 87 miners dead and anger over police’s ‘smoke them out’ tactics – by Mogomotsi Magome and Gerald Imray (Associated Press – Janaury 16, 2025)

https://apnews.com/

STILFONTEIN, South Africa (AP) — The death toll in a monthslong standoff between police and miners trapped while working illegally in an abandoned gold mine in South Africa has risen to at least 87, police said Thursday. Authorities faced growing anger and a possible investigation over their initial refusal to help the miners and instead “smoke them out” by cutting off their food supplies.

National police spokesperson Athlenda Mathe said that 78 bodies were retrieved in a court-ordered rescue operation, with 246 survivors also pulled out from deep underground since the operation began on Monday. Mathe said nine other bodies had been recovered before the rescue operation, without giving details.

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In Namibia, a Canadian copper company leaves a legacy of toxic waste – by Geoffrey York and Samuel Schlaefli (Globe and Mail – January 15, 2025)

https://www.theglobeandmail.com/

Sickness has been common for years in Tsumeb, where Dundee Precious Metals was the biggest employer for more than a decade. Tests have now found the soil is contaminated with arsenic and other heavy metals

In the citrus orchards above the Namibian town, workers often fall sick. They say they feel a burning sensation in their eyes and throats and a metallic taste in their mouths as the wind blows across from the copper smelter a few kilometres away.

“When the gas is coming from that side, we get headaches and dizziness, and sometimes you feel like you want to throw up,” says Festus Gawab, who has worked for three years on a citrus farm near Tsumeb, watering the orange and lemon trees.

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The ‘terrifying’ crackdown on mining companies in Africa’s coup belt – by Aanu Adeoye and Camilla Hodgson (Financial Times – January 13, 2025)

https://www.ft.com/

Military regimes in the Sahel have turned to tactics including arrests to assert control over critical mineral supplies

International mining companies are at the mercy of “terrifying” tactics from military regimes in Africa’s Sahel, whose leaders are using legal disputes, nationalisations and arrests to assert greater control over crucial minerals like gold and uranium.

Barrick Gold on Tuesday temporarily suspended operations in Mali after the government started seizing gold from its mine, weeks after the country issued an arrest warrant for chief executive Mark Bristow. Authorities separately detained Australian gold miner Resolute’s chief executive Terence Holohan for nearly two weeks.

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Mali seizes 3 tons of gold from Canadian company Barrick amid dispute over share of revenue – by Wilson McMakin and Baba Ahmed (Associated Press – January 13, 2025)

https://apnews.com/

DAKAR, Senegal (AP) — Mali’s military government has started seizing gold stocks of the Canadian mining company Barrick as part of a legal battle over the share of revenue owed to the West African state, according to an internal Barrick letter seen by The Associated Press.

The letter from CEO Mark Bristow to the Malian Mining Minister, dated Monday, says Barrick is “awaiting official confirmation of the proper receipt by the Malian Solidarity Bank,” a government entity. The seizure follows a warning letter to Barrick earlier this month from Mali’s senior investigating judge, Boubacar Moussa Diarra, saying three tons of gold would be seized.

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Mali starts seizing gold stocks at Barrick site, company memo says – by Fadimata Kontao and Portia Crowe (Reuters – January 13, 2025)

https://www.reuters.com/

BAMAKO/DAKAR Jan 13 (Reuters) – Mali’s government has begun enforcing a provisional order to seize gold stock at Barrick Gold’s Loulo-Gounkoto site, the Canadian miner said in a note to Malian staff, warning again that it may have to suspend operations at the complex.

The move suggests that Mali’s military-led authorities are not ready to back down in a standoff over a contract based on new mining rules as they push for a greater share of revenues from Western miners. “A provisional order to seize our existing gold stock was issued last week and the Malian government began its enforcement on Jan. 11,” Barrick said in the staff memo.

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Barrick mine in Mali could be forced to close within a week, company says – by Geoffrey York (Globe and Mail – January 6, 2025)

https://www.theglobeandmail.com/

Barrick Gold Corp. says it will be forced to shut down its operations in Mali within a week if the military junta continues to restrict its gold exports from the West African country.

The Toronto-based company disclosed on Monday that the regime had imposed yet another restriction on the company’s operations by issuing an interim attachment order on its existing gold stock at its Loulo-Gounkoto mining complex.

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The Blood in Our Phones – by James North (Truth Dig.com – January 6, 2025)

https://www.truthdig.com/

A lawsuit filed by the Democratic Republic of Congo seeks to hold Apple and its suppliers to account for decades of profiting off conflict minerals.

The government of the Democratic Republic of Congo is bringing criminal complaints in Europe against Apple, the tech giant, charging it with sourcing materials for its electronics in ways that contribute to vicious violence in the war-torn eastern DRC.

In part, the lawsuit accuses Apple of acquiring Congolese minerals that have been illegally smuggled through Rwanda, which borders DRC to the east. Apple denies the charges. So far, the mainstream U.S. media is mostly ignoring the story, continuing its decades-long indifference to what continues to be one of the greatest humanitarian disasters since World War II.

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