Central Africa

The United Arab Emirates' trade minister stated on Monday that the Gulf state could complete negotiations for a bi-lateral trade agreement with central African state, Tchad, by the end the year. The Comprehensive Economic Partnership Agreements (CEPA) are trade, investment, and cooperation agreements that form a crucial part of the UAE's long-term strategy to boost growth and reduce its dependency on fossil fuels. Thani Al Zeyoudi, speaking on the sidelines at the UAE-Chad Trade and Investment Forum in Abu Dhabi's capital, said: "We are building a strong bilateral relation between the UAE and Chad." Zeyoudi added that the negotiations have...

Botswana, Angola and their mining ministers will meet in Botswana’s capital for talks on Friday. The two Southern African nations are seeking to control the Anglo American diamond company De Beers. Botswana considers De Beers, which owns 15% and produces 70% of its rough diamonds, as a strategic asset for the country, despite the global price slump that has hurt their economy. Angola originally sought a minor stake in De Beers, but submitted a bid later for a major stake. This could lead to a bidding war between Angola and its neighbour. According to a program shared by the Botswana...

Angola’s rough diamond production in the nine-month period ending September reached 10,7 million carats, said a government official on Friday. The country is aiming to achieve another record haul of rough diamonds this year. In 2024, the southwest African nation produced a record of 14 million carats rough diamonds, ranking it third in terms of production behind Botswana and Russia. It aims to produce 14.8 million carats in 2018. Janio Correa Victor, the secretary of state for minerals resources, said that output was 23,2% higher at half-year but did not give comparative figures for 2024's first nine months. Victor said...

Angola bid on Friday for the majority of Anglo American De Beers. This could lead to a standoff between Botswana and Angola.Botswana also wants control over De Beers. The company has operations in Botswana Namibia Angola South Africa and Canada. According to a June report, Anglo put it up for sale amid falling diamond prices. At least six consortiums had expressed interest. Bloomberg News reported that the source confirmed that Angola’s state-owned diamond firm Endiama submitted an offer to De Beers for a majority share. Botswana owns 15 percent of De Beers and considers it a strategic asset for the...

Angola’s first major copper mining project, Tetelo will begin production on October 29. This is part of Angola’s effort to diversify its economy into minerals that are clean and renewable. Shining Star Icarus is the owner of this $250 million mine, which is a partnership between China’s Shining Star International Group with Angola’s Sociedade Mineireira de Cobre de Angola. It is expected to produce 25, 000 metric tons per year of copper concentrate in its first two years. "I'm honored to announce the Tetelo Mine, which will be inaugurated in a few short days," Mines minister Diamantino azevedo said at...

Issa tchiroma, the opposition candidate in Cameroon's presidential election on October 12, declared victory late Monday night. He urged President Paul Biya not to be deterred by the results and to "honor the truth of the vote box". "Our victory is obvious." Tchiroma, in a Facebook post from his hometown in Garoua (north of Central African State), said that it must be respected. The people have made their choice. "This choice must be respected." Tchiroma (76), a former spokesperson for the government and minister of employment, broke with Biya in early this year, and launched a campaign which attracted large...

Angola has a complex network of pipelines that snake along the Atlantic coast. They lead to a new refinery, which signals Angola's drive for energy independence. It also shows how private lenders are being used instead of banks to finance a large-scale project. "We are not the lender last resort," said Felipe Berliner. He is the co-founder and CEO of Gemcorp, a emerging markets asset management company that provided the majority of the funding for the refinery using private capital. "Sometimes, we are the sole lender." Veteran investors said that private credit for emerging market countries -- driven by investors’...

Chevron announced on Monday that the subsidiary of its Noble Energy had reached an agreement with Equatorial Guinea regarding the development and construction of the Aseng Gas Project. This will allow it to make a final investment choice. The project is located in Block I of Douala Basin and will contribute to the continued supply of liquefied gas to the global market from Central Africa. The initial investment will be around $690 million, and it will help the country achieve its ambitions of becoming a regional hub for gas processing. EQUATORIAL GUINEA SET TO LAUNCH LICENSING ROUND Equatorial Guinea and...

Angola’s state-owned diamond company Endiama bid on a minority stake of Anglo American’s diamond unit De Beers, said the African nation’s Ministry of Mineral Resources, Petroleum and Gas. De Beers, one of the largest diamond companies in the world, has operations across Botswana Namibia Angola South Africa and Canada. According to a June report, the diamond company that Anglo has put on sale due to falling diamond prices had drawn interest from six consortia. The ministry stated that Angola’s proposal did not include a majority stake in De Beers, a Botswana-based company. Instead, it believes the firm should remain a...

Angola's senior debt official said that the country will decide in November whether it wants to extend its $1 billion total-return swap agreement with JPMorgan or raise money through international capital markets. JPMorgan and Angola signed a derivative contract worth $1 billion for a year, known as a Total Return Swap, backed up by $1.9 billion of government dollar bonds. The contract will expire this year. Dorivaldo Téixeira, Director General of the Public Debt Management Unit of Angola's Finance Ministry, said on the sidelines investor meetings in London, "We have options." Angola, if the market conditions are right, could issue...

Angola's senior debt official said that the country will decide in November whether it wants to extend its $1 billion total-return swap with JPMorgan or raise money on the international capital markets. JPMorgan agreed with Angola in December to a derivative contract worth $1 billion for a year, known as a Total Return Swap, backed up by $1.9 billion of government dollar bonds. The contract will expire in the next few months. Dorivaldo Téixeira, Director General of the Public Debt Management Unit of Angola's Finance Ministry, said on the sidelines investor meetings in London, "We have options." Angola, if the...

IMF reduced Angola’s economic growth projection for 2025 from 2.4% to 2.1% on the back lower oil exports. The IMF warned on Friday that the risks had increased from last year in regard to the Southern African country’s ability to pay its bills. Angola must also embrace greater flexibility in its foreign exchange rate, according to the IMF. The IMF made the statement after reviewing the findings of an assessment mission conducted by staff in Luanda, Angola, in May. At that time the Fund had already reduced Angola's initial growth forecast for this year to 3%. The IMF stated that...

The third year has been tough for battery metals like lithium, nickel, and cobalt. All three markets are struggling to absorb the supply wave that followed the price boom of 2022. The electric vehicle revolution continues. The demand for batteries, and the metals needed to make them work, is still rising at an accelerated pace. It is only a matter time before the current glut of supply is absorbed by demand. This was at least the hope. Chinese companies are undergoing a technological revolution at the same time, as they work to create ever-more powerful batteries for ever-lower costs. Battery...

The third year has been tough for battery metals like lithium, nickel and copper as the three markets struggled to absorb the supply wave that followed the price boom of 2022. The electric vehicle revolution continues. The demand for metals and batteries that power them is growing at an accelerated rate. It is only a matter time before the current glut of supply is absorbed by demand. This was at least the hope. Chinese companies are, however, embarking on a "simultaneous" technological revolution, as they seek to develop batteries that are ever more powerful at a lower cost. Battery chemistry...

The United States Development lender announced on Friday plans to take a stake to market Congo minerals, which could give U.S. users of copper and cobalt the right to first refusal. The U.S. and China are in a heated competition to gain access to minerals that are crucial to the manufacture of everything from cars to iPhones. Congo has 72% of the world's cobalt reserves, and supplies 74% of that amount. Many of these mines are artisanal. The plans for investment were revealed a day after U.S. president Donald Trump hosted leaders of Rwanda and the Democratic Republic of Congo...

Fighting broke out in the eastern Democratic Republic of Congo Friday, just a day after U.S. president Donald Trump met with Congolese leaders and Rwandans in Washington for the signing of new agreements aimed at ending decades of conflict in this mineral-rich region. On Thursday, Congo's Felix Tshisekedi reaffirmed his commitment to the U.S.-brokered agreement reached in June. The deal aims to stabilize the vast country by allowing more Western mining investments. "We are settling a long-running war," said Trump. His administration intervened in many conflicts around the globe to burnish Trump's credentials as a world peacemaker, and advance U.S....

Ivanhoe Mines said that its recovery plan is progressing and it expects the copper production at its Kamoa/Kakula complex to reach between 380,000-420,000 tons of copper in 2026, and 500,000-540,000 tonnes in 2027. It will update its life-of-mine plans towards the end the first quarter next year. In its report on production guidance, Ivanhoe said that copper sales are expected to exceed output in 2026 as it clears 20,000 tons concentrate stock once its new smelter, Africa's biggest, starts up in December and shifts production to copper anodes. Robert Friedland, Ivanhoe's co-chairman, said that the company was "on the brink...

Apple has denied the allegations, but a U.S. advocacy group filed a suit in Washington claiming that the iPhone maker uses minerals from the Democratic Republic of Congo or Rwanda. International Rights Advocates, a group based in the United States, filed a lawsuit last year against Apple, Tesla and other tech companies for cobalt sourcing. However, U.S. court dismissed it. In December, French prosecutors dropped Congo's conflict mineral case against Apple subsidiaries citing a lack of evidence. An investigation is ongoing in Belgium into a criminal complaint related to this issue. Apple has denied any wrongdoing as a response to...

Apple has denied the allegations, but a U.S. advocacy group filed a suit in Washington. The lawsuit accuses Apple of using minerals that are linked to human rights violations and conflict in the Democratic Republic of Congo (DRC) and Rwanda. International Rights Advocates, a group based in the United States, has sued Apple, Tesla and other tech companies over cobalt sourcing. However, U.S. court dismissed this case last year. In December, French prosecutors dropped Congo's conflict mineral case against Apple subsidiaries citing a lack of evidence. An investigation is ongoing in Belgium into a criminal complaint related to this issue....

The Chinese embassy in Central African Republic (CAR), has warned that its citizens could become "mining slaves", in the gold trade of the politically insecure nation. Chinese workers are now looking to sub-Saharan Africa for work as gig economies in Asia dry up. The embassy released a statement Thursday stating that Chinese nationals were killed or kidnapped, and some even scammed of large sums and deported because they illegally mined. China has sent workers to resource-rich sub Saharan Africa in search of fortune. Gold prices have soared amid massive Chinese state purchases, while factory and construction jobs are disappearing as...

The mines ministry announced that the Democratic Republic of Congo extended for another six months the ban on trading minerals from dozens of sites of artisanal gold mining in the conflict-hit provinces of North and South Kivu. The extension increases compliance pressure on global supply chain for tin tantalum and titanium, which are key inputs to the electronic, automotive, and aerospace industries. According to an order signed by Mines Minister Louis Watum Kabamba on November 3, the ban introduced in February is still in effect because there is evidence that the illegal supply of mines funds armed groups in eastern...

The artisanal mining agency of the Congo said that around 30 people died at a semi industrial copper mine in the southeast after a collapsed bridge. A spokesperson for the agency said that 49 people died and 20 were in critical condition after the incident on Saturday, at the Kalando mine site in Lualaba Province. In Congo, artisanal mining supports between 1.5 and 2 million people directly. According to SAEMAPE, the Artisanal and Small-Scale Mining Support and Guidance Service of Congo, the collapse was caused by "panic, which was reportedly triggered" by gunfire by military personnel guarding site. SAEMAPE said...

Botswana has been working to acquire a majority stake of De Beers. This was announced by President Duma Boko on Monday after Angola made a bid for control over the giant diamond firm. Botswana owns 15% of De Beers, and the company contributes 70% of their annual rough diamond production. Despite a global slump in diamond prices, which has hurt its economy, Botswana considers De Beers a strategic asset. Boko said during the State of the Nation address in Gaborone, that diamonds will remain the major contributor to growth. Boko, without revealing any further details, said that "concrete steps are...

DLA Piper, a law firm, said that disagreements between governments and investors about resources have reached a ten-year high. This is due to resource nationalism, and the growing competition between China and the U.S. for vital minerals. The scramble to find minerals is reflected in the race to get the precious oil and gas revenue that is vital to state coffers. This is especially true for emerging economies. DLA Piper reported that the 32 disputes filed with the World Bank's arbitration body so far this year, which include everything from gold, uranium, and lithium to oil and gas, have already...