Coris Invest has made an offer to gradually take over Hummingbird Resources, a British firm that operates two gold mines in Mali and Guinea. Led by Burkinabe businessman Idrissa Nassa, the acquisition requires multiple regulatory approvals before proceeding. UK-based Hummingbird Resources, which operates the Yanfolila gold mine in Mali and the Kouroussa gold mine in Guinea, has signed an...

Since 2017, Sodim has had three joint venture partners on the Afema gold project, including Australia's Turaco Gold. The Israeli company recently signed an agreement with Turaco Gold to develop the project and received an immediate payment of $14.2 million in return. On November 27, Turaco Gold is raising its stake in the Afema gold project in Côte d'Ivoire from 51% to 80%. The Australian...

In Sub-Saharan Africa, the digital divide remains stark, with rural areas often lagging behind urban centers in internet access. Improving connectivity could create jobs, enhance productivity, and foster innovation in sectors like agriculture, education, and financial services. On November 27, Pan-African telecommunications leader Paratus Group announced its expansion into Kenya, marking a...

The IDMC reports that conflicts and natural disasters are the leading causes of internal displacement in Africa. In 2023, 32.5 million people were displaced by conflicts, and 6.3 million by natural disasters. In 2023, Africa had 35 million internally displaced people (IDPs), nearly half of the global total and three times more than in 2009. This alarming statistic comes from a report released on...

Nigeria's inflation rate rose again from September to October 2024, reaching 33.88%. Between January and October 2024, the Nigerian naira lost 82% of its value, according to data analysis firm Dataphyte. The Central Bank of Nigeria (CBN) has increased its benchmark interest rate by 25 basis points to 27.50% from 27.25% in September. This decision was made during the bank’s monetary policy...

Kouroussa should have started commercial production in Q1 2024 but the gold mine faced delays, due to operational and financial difficulties affecting its owner, Hummingbird Resources. While the company has resolved some operational challenges, it still has significant financial hurdles. Guinea’s Kouroussa gold mine has officially commenced commercial production, several months behind...

Sierra Leone imported $78 million of iron and steel products in 2023. The country, home to one of Africa's largest iron mines and a significant exporter of metallurgical goods, seeks to enhance its role within its production chain. Sierra Leone has inaugurated its first iron bar factory, owned by Odhav Multi Industries (SL) Limited, a Guinean company specializing in steel manufacturing....

Arrow Minerals is making significant strides in the bauxite mining sector with its Niagara bauxite project in Guinea. The Australian company launched its initial drilling program earlier this year, aiming to tap into Guinea's vast bauxite reserves, which rank as the third largest globally. On November 25, 2024, Arrow Minerals announced the results of its first drilling program at the Niagara...

Burkina Faso adopted a new mining code in 2023, to increase its mining revenues. Since then, the country has been eager to implement the decrees detailing the reform’s terms.  On November 20, 2024, Burkina Faso's Council of Ministers approved the 2023 mining code implementing decrees, completing the regulatory framework designed to maximize mining revenues.  One significant change...

While Africa has an overall score lower than the global average, nine countries on the continent stand out, offering high investment potential in AI, thanks in part to strong digital infrastructure, a skilled workforce, and a favorable regulatory environment. A report released on November 20 by the French Development Agency (AFD) has identified Morocco, Mauritius, and Gabon as the top countries...