Africa

Global financier and longtime Trump associate Gentry Beach is reportedly negotiating for control of the Rubaya coltan mine in the Democratic Republic of Congo (DRC). The Trump administration-backed initiative, accompanied by support from a consortium including the Swiss trading house Mercuria,...

Mali's Bamako Commercial Court on Monday placed the Loulo-Gounkoto gold complex, one of Barrick Mining's (NYSE:B) largest assets, into state control for six months. After a prolonged standoff over taxation, Mali appointed former health minister Suomana Makadji as provisional administrator. "Justice...

Abu Dhabi's state-backed International Resources Holding (IRH) has acquired a 56% stake in Alphamin Resources (OTCPK: AFMJF) for CA$503 million ($366 million) from private equity firm Denham Capital. The transaction gives IRH control over one of the world's highest-grade tin mines, the Bisie...

A Malian court has again postponed a hearing on whether to place Barrick Mining's (NYSE:B) Loulo-Gounkoto complex under provisional administration. The decision was the third adjournment in the long dispute between the Canadian mining leader and the military-led government of Mali. According to...

Tech Billionaire Bill Gates, Chair of the Gates Foundation, has committed to allocating the majority of the foundation’s $200 billion spend over the next two decades to Africa. The announcement was made during his address at the African Union’s Nelson Mandela Hall. What Happened: In his...

The Democratic Republic of Congo (DRC) is preparing to finalize a minerals deal with the United States by the end of June. The initiative could combine a U.S.-backed peace agreement with Rwanda with expanded access for American companies to Congo's vast deposits of lithium, cobalt, and coltan—...

Erik Prince, a businessman and longtime supporter of President Donald Trump, has reportedly agreed to help the Democratic Republic of Congo (DRC) secure and tax its vast mineral wealth. According to Reuters, he reached the agreement before the M23 rebel group launched a major offensive in January...

As the gold price crossed $3,200 per ounce for the first time, Ghana, a major gold producer, has officially centralized control over its gold exports under a newly established government entity. Effective immediately, Ghana Gold Board (GoldBod) becomes the sole institution authorized to buy, sell,...

Trump's administration has decided to back one of the key projects initiated by former President Joe Biden: the Lobito Corridor. The transcontinental railway aims to link the resource-rich areas of the Democratic Republic of Congo (DRC) and Zambia to Angola's Atlantic port of Lobito. This project...

KoBold Metals, a startup backed by billionaires Bill Gates and Jeff Bezos, has approached the Democratic Republic of Congo's (DRC) government with an offer to develop one of the world's largest hard rock lithium mines. The mining startup looks to take over the disputed mining license for the Roche...

The United States is considering a potential partnership with the Democratic Republic of Congo (DRC) to secure access to critical minerals, following discussions initiated by a senior Congolese official. According to the Financial Times, the DRC proposed a minerals-for-security deal, offering...

Chinese state-owned miner MMG has mothballed production at its cobalt processing plant in the Democratic Republic of Congo just 15 months after starting the operation. What Happened: According to Bloomberg, the Chinese miner cited "unfavorable cobalt market conditions" as the primary reason for...

Barrick Gold (NYSE:GOLD) is getting closer to resolving a prolonged dispute with Mali's military junta over the country's mining code reforms. Seeking to maximize state revenue, the junta demanded higher royalties and a greater share of profits from foreign operators. The situation gradually...

Building a mine is a notoriously difficult endeavor. It is a long, often multi-decade process involving prospecting, soil sampling, environmental studies, and billions of dollars worth of capital expenditures before production starts. For companies involved, it is a generational commitment that...

Mali's changes to the mining code are starting to impact its commodity production. After the military-led government implemented changes that sought to increase royalties from 20% to 35%, gold production decreased by 23% in 2024, reaching 51 metric tons. Reuters reported that, per the country's...