The African Development Bank and technology giant Intel have formalized their cooperation to transform the African digital ecosystem. The partnership aims to equip 3 million Africans and 30,000 government officials with AI skills. Sealed at the recent African Development Bank’s Annual Meetings in Nairobi, Kenya, the deal will help create a critical mass of Africans proficient in Fourth...

Copper prices have reached a new all-time high, exceeding $11,000 per tonne in May 2024. However, analysts at Trafigura, a leading commodity trader, believe that the current rally is not justified by market fundamentals. Trafigura said the current supply and demand fundamentals do not justify the recent surge in copper prices. According to the company's analysts, quoted by Bloomberg, the...

The reliable gaming brand MelBet will retain the status of Juventus Official Regional Betting Partner for the 2024/2025 season. The parties have extended their agreement for at least one more year and are preparing to give fans even more unique experiences. The territory of the partnership will remain in the MENA and Africa regions. The contract terms include placing MelBet branding on the...

Côte d'Ivoire has emerged as the most attractive jurisdiction for mining investment in West Africa, drawing increasing interest from mining companies. This is reflected in the funds raised for exploration, particularly for gold. Many Peaks Minerals, an Australian mining junior, recently raised A$5.2 million ($3.46 million) through a share placement. The firm, which announced the news on June 5,...

The price of gold has broken records this year, peaking at over $2,400 an ounce in May. Central banks around the world have been buying up gold at an unprecedented rate, thus spurring the hike. Central Bank’s net gold purchases reached 33 tonnes in April, up from just 3 tonnes in March. In a note published on June 4, the World Gold Council disclosed the figure. According to the note,...

The first South Korea-Africa summit took place from June 4 to 5, 2024, with critical minerals at the forefront of discussions.  The summit saw the signing of 50 agreements between South Korea and 48 African countries, with several related to the mining sector. Notably, agreements were signed with Madagascar and Tanzania to secure supplies of critical minerals for the Korean battery...

Fekola, Mali's second-largest gold mine, raked in $1.14 billion in revenues in 2023 from selling 588,460 ounces of gold. The mine is operated by B2Gold, a Canadian firm. B2Gold forked over $297 million to the Malian government in 2023, according to a report published on June 3 by the Canadian mining company. In 2022, it had paid Bamako $297.5 million. The payment includes mining...

Australia's Evolution Energy Minerals is developing the Chilalo graphite project in Tanzania, which is expected to produce 52,000 tonnes of graphite concentrate annually for 17 years. The project requires an initial investment of $120 million. Evolution Energy Minerals picked Treadstone Resource Partners as a financial advisor to develop the Chilalo graphite project. The company announced...

Tourist revenues in Morocco reached $3.2 billion in the first four months of 2024, marking a 10.6% increase from the same period last year. The figures were reported last June 3 by the Moroccan Ministry of Tourism, Handicrafts, and the Social and Solidarity. The rise in tourism earnings is primarily attributed to a growth in visitor numbers during the period, the ministry added. Minister of...

Senegal has successfully raised $750 million through its latest Eurobond issuance, marking its fourth such operation this year among sub-Saharan countries. The bond, maturing in 2031, underscores growing investor confidence in its emerging oil and gas economy under new leadership. According to Bloomberg, the issuance was split into two tranches—$500 million and $250 million—with an...