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Africa Mining

Nigeria Is Emerging as a Critical Mineral Hub. the Government Is Cracking Down on Illegal Operations (Associated Press/U.S. News – May 26, 2024)

https://www.usnews.com/

ABUJA, Nigeria (AP) — Nigeria’s government is cracking down on illegal mining, making dozens of arrests of unlicensed miners since April for allegedly stealing the country’s lithium, a critical mineral used in batteries for electric vehicles, smartphones and power systems.

The recent arrests come as Nigeria seeks to regulate its mining operations of critical minerals, curb illegal activity and better benefit from its mineral resources. The clean energy transition, a shift away from coal, oil and gas and toward renewable energy and batteries has spiked global demand for lithium, tin and other minerals.

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Billionaire-backed KoBold, Midnight Sun team up for Zambia copper discovery – by Henry Lazenby (Northern Miner – May 2024)

https://www.northernminer.com/

KoBold Metals, a U.S.-based startup supported by high-profile investors such as Bill Gates and Jeff Bezos, is venturing into Zambia’s rich copper belt. In February it partnered with Canada’s Midnight Sun Mining (TSXV: MMA) to explore the promising Dumbwa target within the Solwezi copper project.

This strategic alliance will leverage KoBold’s advanced data science techniques and Midnight Sun’s extensive local experience. The goal is for KoBold to earn a 75% stake in the Dumbwa target by investing US$15 million in exploration and making US$500,000 in cash payments over 4.5 years.

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Congo Demands International Embargo on Rwandan Mineral Exports – by Michael J. Kavanagh (Bloomberg News – May 15, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Democratic Republic of Congo called for an international embargo of metal exports from neighboring Rwanda, whose government it accuses of using rebel groups to steal its natural resources.

All mining products from Rwanda should be considered “blood minerals,” because their sale allegedly supports conflict in eastern Congo, Mines Minister Antoinette N’Samba Kalambayi said in a May 8 statement released on Tuesday. “All stakeholders, including end consumers of mining products,” should commit to a responsible supply chain, and “an embargo be decreed against Rwanda,” she said.

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Seeking Access to Congo’s Metals, White House Aims to Ease Sanctions – by Eric Lipton (New York Times – May 16, 2024)

https://www.nytimes.com/

A deal to allow the Israeli billionaire Dan Gertler to cash out his mining positions in the Democratic Republic of Congo has enraged human rights activists and some government officials.

Three years after Biden administration officials tightened sanctions on a billionaire Israeli mining executive for corrupt business practices in the Democratic Republic of Congo, they have reversed themselves and are offering the executive a deal they hope will bolster the supply of a metal vital to electric vehicles.

The plan would allow the executive, Dan Gertler, to sell off his remaining stakes in three giant copper and cobalt mining operations in Congo. Once Mr. Gertler sells his positions, the Biden administration hopes Western-leaning companies will be more willing to invest in Congo, perhaps delivering a greater supply of cobalt to the United States as automakers race to increase domestic production of batteries.

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Anglo Ditching De Beers Is Hard Blow for Troubled Diamond Market – by Thomas Biesheuvel (Bloomberg News – May 14, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — The diamond industry has already been feeling the heat. Prices have slumped, Russian sanctions are threatening trade and the emergence of lab-grown gems is eating into some key traditional markets. Now, the sector’s most dominant name is being cast adrift.

Anglo American Plc on Tuesday said it will spin off or sell its De Beers business, ending an almost century-long relationship with the industry’s most famous name. The move, part of a wide12)r restructuring to fend off a $43 billion approach from BHP Group, is a seismic shock for the diamond world.

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US Blames China’s CMOC for Predatory Tactics Behind Cobalt Glut – by Michael J. Kavanagh (Bloomberg News – May 14, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — China’s CMOC Group Ltd. is being accused by a top US official of using “predatory” tactics to depress prices of a key battery metal by flooding the market with cobalt from Democratic Republic of Congo mines.

“What we’re seeing now, I feel, is a variation of predatory pricing,” Jose Fernandez, Under Secretary for Economic Growth, Energy, and the Environment, said Monday at a conference in New York sponsored by the Cobalt Institute industry group.

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Lucapa to sell majority stake in Lesotho diamond mine – by Cecilia Jamasmie (Mining.com – May 15, 2024)

https://www.mining.com/

Australia’s Lucapa Diamond (ASX: LOM) has put its 70% stake in the Mothae mine in Lesotho up for sale to focus on its core assets and is discussing options for the 30% held by the country’s government.

The diamond miner’s board said it was “considering all options for the divestment” and finalizing a data room for interested parties. “On review, it is clear the company should streamline the portfolio to focus on our core assets in Africa and Australia,” chairman Stuart Brown said in the statement.

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Anglo goes for bold breakup plan in move to fend off BHP – by Thomas Biesheuvel and William Clowes (Bloomberg News – May 14, 2024)

https://www.bnnbloomberg.ca/

Anglo American Plc will exit diamond, platinum and coal mining in a massive restructuring designed to fend off a £34 billion (US$43 billion) bid from rival BHP Group and turn itself into a copper giant.

Anglo’s hand was forced by BHP’s approach — which it has twice rejected — but the move also responds to pressure from shareholders to shed less profitable businesses and focus on the copper assets that are the envy of the industry. It leaves a much simpler company — and a potentially more attractive one to suitors.

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Anglo American rejects BHP’s new takeover offer, potentially ending one of industry’s biggest merger efforts – by Eric Reguly (Globe and Mail – May 14, 2024)

https://www.theglobeandmail.com/

BHP Group’s effort to become the world’s biggest copper miner ran into another roadblock after smaller rival Anglo American rejected BHP’s second takeover proposal. BHP on Monday said its new proposal represented a 15-per-cent increase to the opening share exchange offer. If the improved offer had been accepted, Anglo shareholders’ ownership of the enlarged group would have gone to 16.6 per cent from 14.8 per cent.

“BHP put forward a revised proposal to the Anglo American board that we strongly believe would be a win-win for BHP and Anglo American shareholders,” Mike Henry, the Canadian chief executive officer of BHP, said in a statement. “We are disappointed that second proposal has been rejected.”

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Botswana Vows to Protect Interests in Potential BHP-Anglo Deal – by Mbongeni Mguni (Bloomberg News – May 9, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Botswana President Mokgweetsi Masisi vowed to protect the country’s interests, including its 15% stake in diamond giant De Beers, should BHP Group Ltd. acquire Anglo American Plc.

Anglo, which rejected a BHP proposal valuing the mining company at about $39 billion, owns the other 85% of De Beers. Under the proposed deal, BHP — once a major diamond producer itself — said that De Beers would be put on a strategic review. Anglo, the only major miner with a big diamond business, has already been reviewing the future of units including De Beers.

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Cecil John Rhodes: Life and Legacy of a British Imperialist – by Greg Beyer (The Collerctor – May 8, 2024)

https://www.thecollector.com/

One of the greatest imperialists of the British Empire, Cecil John Rhodes’ legacy is today considered highly problematic.

Cecil John Rhodes is a historical figure who has generated huge amounts of debate, not just in South Africa, where he lived much of his life, but across much of the Anglosphere, where his name continues to bear considerable weight and influence.

He was indeed a powerful man who advanced and industrialized parts of the world, bringing colonial progress, wealth, and success to lands under his influence. However, his legacy in the English-speaking world has come under intense scrutiny as those whose ancestors benefitted from his imperialism are made aware of the dark side of his methods.

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West Africa’s gold mines are more organized than you might think – by James Courtright (Institute of Current World Affairs – January 3, 2024)

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KHARAKHENA, Senegal — I stepped out of a car in this large village near the Malian border into a very different world than the small placid town of Saraya we had left behind 20 miles ago. Around us—myself, photographer Guy Peterson and our guide Omar Diané—generators rumbled, shaking the small bamboo-panel shacks they sat beside. A group of children approached curiously, all wearing tee-shirts emblazoned with the face of Mali’s junta leader Assimi Goita.

A motorcycle careened around the corner, honking to announce its presence and scattering the children. In the distance, I could make out a fetid pond full of trash. No sign of the state authorities was anywhere to be seen. On a distant hillside, little tarpaulin shelters were barely visible, covering small holes and hundreds of men tunneling into the hillside looking for gold.

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South African Unions Urge Anglo Shareholders To Reject BHP Bid – by Antony Sguazzin (Bloomberg News – May 7, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — South Africa’s biggest labor union federation urged local shareholders, including the powerful Public Investment Corp., to oppose BHP Group Ltd.’s bid to buy Anglo American Plc. The Congress of South African Trade Unions, which includes the National Union of Mineworkers among its members, said a deal wouldn’t be in the national interest. South African shareholders hold about 26% of Anglo, with the PIC owning 8.4%, according to data compiled by Bloomberg.

BHP’s proposal to acquire Anglo on April 25 raised the ire of some members of South Africa’s government, including Mines Minister Gwede Mantashe. The Australian company responded by deploying a senior team including its chief executive officer to South Africa to win over government officials, regulators and local Anglo shareholders.

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Gold The True Motor Of West African History: An Overview Of The Importance Of Gold In West Africa And Its Relations With The Wider World – by Jan Bart Gewald (Rozenberg Quarterly – 2010)

https://rozenbergquarterly.com/

While the prime sources of gold remained more or less where they had always been, hidden from the outside world, along the headwaters of the Rivers Senegal and Niger (Wright 2007: 21).

Slavery and African slaves have dominated historical perspectives of Africa and its relations with the wider world. Yet, it is gold which has been the most important and enduring element that has shaped and determined West Africa and its interactions with the wider world. For at least 1,500 years gold and not slaves has been the commodity determining not only the region’s economy and history, but also West Africa’s links with the wider world.

Beginning in the late 1700s, understandable humanitarian concerns and philanthropic motives ensured that the focal point within public discussion and history, when dealing with West Africa, came to be centred on the issue of slavery. Focussing on slavery to the detriment of gold and other commodities to some extent ensured that the export of slaves from West Africa came to be halted in the course of the nineteenth century.

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‘Blood minerals’: What are the hidden costs of the EU-Rwanda supply deal? – by Lorraine Mallinder (Al Jazeera – May 2, 2024)

https://www.aljazeera.com/

EU plans to secure supplies for green revolution from Rwanda are likely to support smuggling of conflict minerals from DR Congo.

As the green revolution revs up, the European Union has signed a deal with Rwanda that will ensure a supply of precious minerals needed to build clean tech like solar panels and electric vehicles. What’s not to like? As the European Commission described it, after inking a Memorandum of Understanding back in February, the deal will “nurture sustainable and resilient value chains for critical raw materials”.

But all is not as it seems. It turns out that Rwanda is a country that exports more than it mines. Vast amounts of minerals like coltan and gold are smuggled from the war-ravaged Democratic Republic of the Congo to Rwanda, where they enter global supply chains.

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