In 2023, Aya Gold & Silver conducted over 100,000 meters of drilling at its Zgounder silver mine and the polymetallic Boumadine project. This year, the Canadian company plans for up to 145,000 meters of drilling across its various assets in Morocco. Aya Gold & Silver plans to spend $36 million on its Moroccan exploration activities this year.  The Canadian mining company announced the...

NSIA Bank Côte d'Ivoire unveiled a summary of its financial results for the year 2023 on March 29, 2024, showcasing total gross receivables (including non-performing loans) from clients of CFA1,307.4 billion. This performance sets a new record with a growth of CFA166 billion (or +14.54%), surpassing the growth rates of the years 2021 and 2022, which were +7.3% and +10.6% respectively. While the...

Ecobank Côte d'Ivoire remains committed to its generous dividend distribution policy, backed by improved financial indicators in 2023. The bank has increased the overall dividend amount proposed to shareholders by firms listed on the Abidjan Regional Securities Exchange (BRVM) to 433 billion CFA, after ten companies disclosed their results for 2023 thus far. Ecobank has recommended a gross...

The Bougouni lithium mine, in Mali, could produce 2 million tonnes of spodumene over a lifespan of 8.5 years. Construction works at the mine, under development, are co-financed by Hainan Mining, a Chinese company. Kodal Minerals terminated the right of first refusal (ROFR) with Suay Chin International for its Bougouni lithium mine in Mali. The British firm announced the termination on March...

CMR is one of the many companies interested in the Moroccan subsoil. The Northern African country is the continent’s leading silver producer and one of the biggest phosphate producers in the world. Critical Mineral Resources (CMR) confirmed the presence of copper, silver, and gold in multiple areas at its Ifri project in Morocco. Results from a sample analysis carried out by the firm have...

Despite a total estimated value of $700 billion for all solid minerals in the Nigerian subsoil, the mining sector contributes a mere 0.45% to the country's GDP, and its economy remains largely dependent on the price of crude oil on the international market. Nigeria has announced that it will only issue new mining permits to companies that present a plan for local ore processing. This...

The African Development Bank Group, on 28 March 2024, announces the conclusion of a negotiated settlement agreement with China Henan International Cooperation Group Company Limited, thus putting an end to sanctions proceedings for a fraudulent practice against China Henan International Cooperation Group Company Limited. Pursuant to the negotiated settlement agreement, China Henan International...

The Regional Securities Exchange (BRVM) in Abidjan has seen a significant announcement of net dividends amounting to CFA400.3 billion (approximately $660 million) from nine listed companies for FY2023. The most recent disclosure came from the Burkina Faso-based Coris Bank International, offering a net dividend of CFA790 per share to its investors. With more financial results and shareholder...

In 2023, agricultural exports from Africa to the United States reached a significant milestone, totaling $2.6 billion. This figure underscores Washington's ongoing efforts to deepen its cooperation with African nations. Against this backdrop, a new initiative aims to increase the flow of African food products to the U.S. market. On Wednesday, March 27, 2024, the United States Agency for...

The African Development Bank has signed a $75 million loan agreement with Nigeria’s Indorama Eleme Fertilizer and Chemicals Limited. The loan will enable Indorama to increase its fertilizer production and develop a port terminal for exports, supporting food production and food security across regional and international markets, while fostering job creation in Nigeria. The expansion will...