Africa

William Ruto, the Kenyan President, said that East African countries were discussing plans for a joint refinery in?Tanzania’s port of Tanga modeled after Nigeria’s Dangote Plant. East Africa imports all of its refined petroleum, mainly in the Middle East. This leaves the region susceptible to disruptions of supply and price spikes, as was seen with the fallout from the Iran conflict. Ruto said at a Nairobi conference on infrastructure financing that "we're going have a shared refinery in Tanga, which will benefit us all, because this refinery will take the oil coming from DRC, the oil coming from Kenya, the...

Lebanese president Joseph Aoun stated?on? Friday that the ceasefire agreement reached by his country would be "transformed" into "permanent agreements." He did not specify whether he meant a potential peace deal with Israel. His televised speech was his first since the U.S. brokered on Thursday a ceasefire that ended six weeks of fighting in Israel between Iran-backed Hezbollah and Israel. In the text of this deal, Israel and Lebanon will hold direct talks in order to achieve "peace between?the two countries." Aoun expressed gratitude to President Donald Trump of the United States and other regional countries who helped secure the...

The International Monetary Fund (IMF) expects that at least 12 countries will?seek out new loan programs? to deal with the surging 'energy prices? and supply chain disruptions caused by the Middle East?war?,? the head of global crisis lender, said on Wednesday. Kristalina Georgeeva, IMF's Managing Director, warned of further supply disruptions if the Strait of Hormuz is closed even if it ends quickly. She also urged nations to reduce fuel consumption. At a press briefing during the IMF/World Bank spring meetings, Georgieva reiterated her estimation that the disruptions caused by the war would trigger a new demand for financial support...

International Monetary Fund announced on Tuesday that the Middle East and North Africa will 'experience a sharply lower growth rate this year due to the oil exporting countries dealing with the 'fallout' of the Iran War. IMF's World Economic Outlook's forecast for the region's real growth in GDP was cut to just 1.1%, which is 2.8 percentage points below its original January projection. In 2027, growth is projected to return to 4,8%. IMF estimates assume that energy production and transportation will be normalised in the next few months. It noted that the assumption could need to be revised, if the...

Wale Edun is the Nigerian Finance Minister, and the Chair of the G-24 coalition of developing nations. He said that multilateral institutions should do more to help vulnerable countries weather the economic shocks caused by the Middle East war. Edun stated during the briefing for the G-24 at the IMF/World Bank Spring Meetings in Washington that "we would like them do more. We definitely like them provide, especially at this time additional liquidity risk management instruments that lower the cost of funding." The G-24 is a group of countries that coordinates the stances taken by developing nations on issues related...

The?head of United Nations'?trade agency, said Tuesday that the shortages of fertilisers caused by the Iran war is a?priority for developing countries. Gains from higher oil and gas prices are unlikely to last long for producers in the developing world. The'more immediate issue' is fertiliser because it affects food safety and food is the foundation of stability, said Pamela Coke Hamilton, executive director at the International Trade Centre. She added that oil and natural gas can be obtained from other sources so that the situation is "not as dire", even if the price increases are a problem. Coke-Hamilton's agency, which...

The upstream oil regulator said that Nigeria hoped to start delivering natural gas by July through its long-delayed Ajaokuta, Kaduna, Kano (AKK), gas pipeline. This would be a "key milestone" for the country's plans regarding?gas?development. A spokesperson for the Nigerian Upstream Petroleum Regulatory Commission said in the magazine of the regulator that they hoped to deliver gas to Abuja by July through the AKK pipeline. The 614-kilometre pipeline (382-miles) is designed to?deliver more than 2.2 billion cubic feet of gas each day. It's a key part of Nigeria’s strategy to shift their energy mix towards gas, supply industries and power...

Nigeria's finance minister announced on Monday that the country will be seeking stronger international financial support during this week's IMF/World Bank Spring Meetings as a result of the Iran War, which has increased fuel prices at home and complicated reforms. Wale Edun, Africa's leading oil producer, said that the surge in crude prices has benefited him by boosting his foreign exchange earnings. This statement was made ahead of this week's Washington meetings. He added, "But the shock occurs at a critical transition point that intensifies inflationary pressures while raising household living costs." Since the beginning of the conflict, petrol prices...

The World Bank stated that Nigeria's economy will grow despite the Iran war in the first half of 2026. Fiseha Haile, World Bank Nigeria's lead economist during a presentation held in Abuja said that business activity is still in expansion mode. The conflict between the U.S./Israel/Iran has so far raised prices while leaving the output mostly intact. The impact on growth is relatively limited, as the overall business activity has increased in the last few months. Haile stated that the shock was still felt by higher inflation. Bola Tinubu is now in his third year as president. He has implemented...

The World Bank stated on Tuesday that Nigeria's economy will grow in the first half of 2026, despite the Iran War. However, rising fuel prices and persistently high inflation could squeeze incomes, slowing poverty reduction. Fiseha Haile, World Bank Nigeria's lead economist during a presentation held in Abuja said that business activity remains in growth territory. The conflict between the U.S./Israel and Iran has so far lifted prices while leaving output mostly intact. The impact of the growth shock has been contained, as the overall business activity has increased over the last few months. "But the shock is still felt...

The electricity ministry announced on Saturday that Egypt will raise electricity prices for residential and commercial consumers who use more electricity. This increase is due to a global energy crisis caused by the Gulf War. The government has taken a number of measures to reduce energy consumption and curb fiscal pressures as rising import costs put pressure on the finances of the most populous Arab country. The ministry stated that the increase would only affect households with higher consumption and commercial users. This was done to ensure the supply of electricity across residential, industrial and commercial sectors. The report said...

Senegal has banned all travel abroad by top officials and ministers that is not essential. The government warned of "extremely challenging" times as a result of the U.S./Israeli conflict with Iran, which will increase global oil prices, straining Senegal's budget. The price of Brent crude has soared and governments have been urged to act to reduce the negative effects. Senegal Prime Minister Ousmane sonko, speaking at a youth event on Friday night in Mbour, pointed out that oil is trading for about $115 per barrel, almost twice what was assumed to be the price in Senegal’s budget projections. He announced...

According to court documents and legal filings by the company, an Indian court has halted the 'antitrust investigation' into the state-run Steel Authority of India after the company questioned the Indian watchdog over alleged 'procedural errors. Exclusively reported in January, the Competition Commission of India conducted an investigation into the antitrust scandal involving India's Steel Sector. The investigation found that 28 companies colluded to fix steel prices. This included Tata Steel, JSW Steel, and state-run SAIL & RINL. Online Madras High Court records show that the judge at an April 21 hearing halted the investigation of?SAIL. ? is reporting for...

The mines ministry announced on Thursday that Zambia's Luanshya Copper Mine will resume production in August, after more than a decade of idleness. CNMC purchased Luanshya and now holds 80% of the company. Zambia's mining arm ZCCM IH owns 20 percent of the mine. Production had to be halted after severe flooding destroyed infrastructure. According to the Mines Ministry, as of 'March 27, approximately 87.9 millions cubic metres of water have been pumped out of the mine. This has allowed for the development of infrastructure and construction. The ministry announced in a statement that "Luanshya Mine... will resume production at...

A union official has revealed that the U.S.-based Virtus 'Minerals' and its Indian partner Lloyds Metals & Energy plan to restart full production in Congolese cobalt and copper miner Chemaf by January 2027, following a Washington-backed acquisition. Virtus purchased the mines of Chemaf in March for $30m and agreed to take on Chemaf’s $900m debt. The Chemaf acquisition is the first deal on the ground under the U.S. - Democratic Republic of Congo partnership aimed at redirecting critical mineral supplies away from China and towards Western markets. Arum Awat is a Virtus executive who sent a memo to the staff...

China's exports to Chile of sulphuric acids sank to zero in March according to Chinese 'customs' data. The world's largest 'copper-producing nation' is now facing a shortage of the chemical that's used to refine around half of it. China plans to ban exports of sulphuric acids from May, to avoid a shortage in its domestic market. This includes the fertilisers industry. The shipment of acid to Chile has already stopped. It was the biggest market for China's acid exports in 2025, and it accounted for almost one-third. Comparatively, China exported 31,870 tons of acid to Chile between February 2026, and...

South32 cut its full-year predictions for Australia's manganese after heavy rains during the wet season and Tropical Cyclone Narelle disrupted operations. Narelle forced the company in March to temporarily stop operations at its Gemco'manganese mining site in the Northern Territory, and evacuate all non-essential personnel from the mine. The diversified mining company now expects the fiscal '2026 production guidance to be 3 million metric tons of 'wet weight (wmt), a drop of over 6% from its previously announced guidance. Australia Manganese produced 589,00 wmt in the March quarter. This compares to no production a year ago, when the primary concentrater...

PeaceGold, a UK-based social enterprise, plans to export its first products from the'restive eastern Democratic Republic of Congo in September. This is despite last year's fighting that disrupted gold mining throughout the region. PeaceGold, a nonprofit organization in the area, was established in 2013 to formalise artisanal gold mining and to reintegrate ex-combatants back into regulated employment, such as gold mining. This is a means to reduce conflict. It was initially supported by Western donors, before moving to a commercial model. Greg Valerio, founder of PeaceGold, stated that the project currently works with 11 artisanal mines in Ituri province, which...

The U.S. is hosting further discussions in the coming weeks for the Group 20 major economies about the impact of war in the Middle East on food and fertiliser, as they 'continue to push for coordinated actions. The U.S. will make this pledge in a statement by the chair of the G20. It will be made during a meeting between G20 finance minsters and central bankers held on April 16 at the Spring Meetings of the International Monetary Fund (IMF) and World Bank. Before its official release on Monday, a copy of the statement was released instead of a communiqué...

Documents seen by show that Chilean copper producer Codelco, and global miner Anglo American, plan to submit different environmental studies to the regulators in Chile for their planned "shared copper mine". They will use what they call a "unprecedented", twin-track approval process. Documents previously unknown on the Andina Los Bronces project were presented to environmental authorities in January. They show that the companies intend to submit two applications essentially identical in December for a 'pit' where they will jointly extract copper from the top producer of red metal in the world. This model could be used as a template for...

China's Securities Journal, a state-run media outlet, reported on Monday that Zimbabwe had granted two Chinese mining firms export quotas to export lithium concentrates. This comes two months after Africa's top lithium producer, Africa, suspended the exports of this key battery material. According to the report, the quotas have been granted to Chengxin Lithium, and Sinomine Resource who operate lithium mining projects within Zimbabwe. Zimbabwean authorities halted the exports of raw minerals, including lithium, in February citing "alleged malpractices" and "leakages". In early February, Zimbabwean authorities told producers that they would introduce "quotas" for exporting lithium concentrates, and they'd require...

Kemcore, an African mining chemicals importer, is planning to build its processing plants in?Botswana?and Angola?to reduce the geopolitical risks associated with imports from China?and the Middle East?. Africa is an important supplier of minerals that are critical to the energy transition. It's also a battlefield for the United States, as Washington tries to curb Beijing's dominance by securing the supply chains. Zambia and the Democratic Republic of Congo are the two countries that dominate Africa's production of copper, while Congo is the world leader in cobalt. This puts the central African copperbelt right at the center of the minerals competition...

The firms have announced that a Canada-based advisory firm and a Zambian mid-tier copper miner will pilot a sustainability bond this year to integrate artisanal mining into formal supply chains. Globally, artisanal mining is a source of livelihood for millions. In Africa, it is often done informally near or on company-owned mines. This reduces their profits, spreads pollution, and robs nations of revenue. Rob Karpati said that the proposed "stakeholder prosperiy bond" developed by?Veridicor and Zambia's Metalex Commodities aims to remedy this, according to its finance director. He said that the model "professionalises" the artisanal miners instead of removing them...

The Mines Minister announced on Tuesday that Ghana has selected local mining'services' company Engineers & Planners Ltd. to take over Gold Fields Damang gold mine. Ghana, which wants to increase local ownership of its mining industry, rejected Johannesburg-based Gold Fields’ lease renewal bid last year and took control of the mine, breaking years of automatic extension. Then, it?began to assess local bids in order to revive the asset for $1 billion. Emmanuel Armah Kofi Buah, in a'statement', said that the 'Minerals Commission had recommended e&p as the winning bidder. The company showed that it could access funding of up to...