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UN Warns About Escalating Conflict In DR Congo As Rebels Seize Mining Center
Friday, February 7, 2025 - 5:09pm | 609The United Nations issued a warning about the escalating conflict in the Democratic Republic of Congo (DRC), with fears that the violence could spread across the region. What Happened: Volker Türk, the UN High Commissioner for Human Rights, addressed the Human Rights Council, calling for immediate...
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DeBeers Slashes Production Guidance As Anglo American Considers Another Goodwill Impairment
Thursday, February 6, 2025 - 7:43am | 518On Thursday, Leading rough diamond producer De Beers revised its guidance, slashing the anticipated production by 31% from 30 million to 20 million—23 million carats. The firm has also slashed the 2026 plan by 18% as the diamond market continues to face challenges, including weaker demand from...
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Escalating Tariff Wars, Tighter African Supply Drive Gold Toward $3000 Milestone
Wednesday, February 5, 2025 - 6:08pm | 490Gold has been one of the best-performing assets of 2025. The precious metal reached an intraday high of $2,882 per ounce as investors sought a haven amid geopolitical, economic, and supply-side factors. The escalating global trade war, particularly the tit-for-tat tariff exchange between the U.S....
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Africa's $1.8 Billion Gaming Boom: Why Microsoft Can't Ignore Mobile
Wednesday, February 5, 2025 - 10:24am | 533Africa's gaming industry is exploding, and Microsoft Corp (NASDAQ:MSFT) might want to take notes. A new report from Carry1st and Newzoo shows the continent's gaming revenue hit $1.8 billion in 2024, surging 12.4% year-over-year, according to Techpoint Africa. But here's the kicker—90% of that...
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B2Gold Meets 2024 Guidance, Cuts Dividend To Fuel Growth Plans
Tuesday, January 14, 2025 - 2:25pm | 511B2Gold Corp (AMEX:BTG) announced its 2024 production of 804,778 gold ounces, aligning with the lower end of its revised guidance. For 2025, the company is targeting a notable increase, forecasting production between 970,000 to 1,06 million ounces. The Canadian firm expects higher-grade ore from the...
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Barrick Gold Warns About Production Suspension In Mali
Monday, January 6, 2025 - 1:25pm | 502Barrick Gold Corp (NYSE:GOLD) warned about a potential suspension of operations at its Loulo-Gounkoto mining complex in Mali following the Malian government's decision to restrict gold shipments. The West African nation's ruling junta extended its export ban to include on-site gold stocks, which...
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DR Congo Fires 'First Salvo,' Files Complaints Against Apple Over Conflict Minerals
Tuesday, December 17, 2024 - 8:22am | 565The Democratic Republic of Congo has filed criminal complaints against Apple (NASDAQ:AAPL), accusing the company of using conflict minerals. The complaints are filed against Apple's subsidiaries in France and Belgium, per a Reuters report. What happened? Lawyers representing the Congolese...
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Barrick Warns About Destabilization In Mali, Could Halt One Of Its Largest Mines
Monday, December 16, 2024 - 3:51pm | 497Barrick Gold Corp (NYSE:GOLD) has warned it may suspend operations in Mali if the government continues to block gold shipments from its Loulo-Gounkoto mining complex, one of its largest operational gold mines. Over the past months, the situation in Mali has escalated as the ruling military junta...
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Mali Escalates Mining Tensions, Targets Barrick CEO With Arrest Warrant
Friday, December 6, 2024 - 7:12am | 580Mali's military junta has issued an arrest warrant for Barrick Gold (NYSE:GOLD) CEO Mark Bristow, further straining relationships with foreign mining companies. Reuters reported that the warrant accuses Bristow of money laundering and financial violations. Barrick, which operates the Loulo-Gounkoto...
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Mali Demands $162 Million From Resolution, Trading Suspended
Thursday, November 14, 2024 - 8:15am | 559Mali's military government is demanding a $162 million tax settlement from Australia's Resolute Mining (OTC:RMGGY) following the detention of its CEO, Terry Holohan, during a visit to the country. Holohan was detained in Bamako, Mali's capital, along with two colleagues after attending meetings...
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Resolute Mining CEO Detained In Mali, Shares Crater
Monday, November 11, 2024 - 9:04am | 505Resolute Mining (OTC:RMGGY) CEO Terry Holohan, along with two other company executives have been detained by the military-led government in Mali. What Happened: The executives traveled to Bamako, Mali's capital, for meetings with local mining and tax authorities to address concerns over the company...
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Mali Government Threatens Barrick's Loulo Mine Permit Over Disputes On Economic Benefit Sharing
Monday, October 28, 2024 - 8:16am | 501Mali's military government has warned that it may let Barrick Gold Corp's (NYSE:GOLD) Loulo mine concession expire in 2026, citing unresolved disputes over the division's economic benefits from the country's second-largest mine. Following allegations that Barrick failed to honor terms of the...
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Biden's Farewell To Africa: Strategic Motives Behind First And Only Presidential Visit
Saturday, October 19, 2024 - 5:33pm | 810After a hurricane-related postponement, President Joe Biden will visit Angola in December, marking his first and last trip to the African continent in the final week of his tenure. Angola, a country with a complex history tied to the United States and its Cold War adversaries, is now at the...
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Bill Gates Highlights Need For Wealthier Nations To Refocus On Aid To Africa Amid 'Significant' Funds Going To Ukraine, Advocates Debt Relief
Tuesday, September 17, 2024 - 4:52am | 601Tech billionaire and philanthropist Bill Gates called for wealthier nations to boost their support for African countries, at the release of the Bill & Melinda Gates Foundation's annual Goalkeeper's report. What Happened: Gates highlighted that development funds are increasingly diverted to...
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Xi Jinping Pledges $51B To Africa, Fails To Entice Taiwan's Lone African Ally As Eswatini Skips China's Summit
Thursday, September 5, 2024 - 5:30am | 454Chinese President Xi Jinping has pledged nearly $51 billion in funding to Africa at a grand banquet held for African leaders. However, Eswatini, Taiwan’s last remaining diplomatic ally in Africa, was notably absent from the event. What Happened: The Forum on China-Africa Cooperation, a...