Aurum Resources entered the Ivorian gold sector in December 2023. At the time, the Australian company secured a gold exploration permit in Boundali. By the end of this year, the firm, led by Caigen Wang, should have an initial resource estimate. Aurum Resources unveiled on March 19 that it has fully acquired the Boundiali Sud gold exploration permit from Turaco Gold. Aurum Resources expands its...

Ivorian gold has drawn into the country several companies in recent years, thanks to a steady output increase. The country, however, is one of the top 10 manganese producers in the world. Mako Gold seeks a strategic partner to develop its Korhogo manganese project in Côte d'Ivoire. The Australian firm announced in a statement dated March 19 that it was negotiating with potential...

Abandoned in 2014 by SEMAFO, the Kiniero gold mine was set to resume activity this year, but Robex Resources, its owner, pushed back the resumption date to 2025. Robex postponed the resumption to amend its calendar for ramping up the mine’s future output.  Robex Resources issued, on March 18, an updated schedule for resuming activity at the Kiniero gold mine in Guinea. According to the...

The IMF reports that the West African Economic and Monetary Union (WAEMU) has shown resilience in the face of both internal and external shocks, with growth estimated at 5.1% in 2023. For the 2024-2025 period, growth is expected to average 6.8%, largely as a result of changes in the oil and gas sector. The economic growth of WAEMU is projected to average 6.8% in 2024-2025 and stabilize at 6% in...

The Central Bank of Nigeria allowed the local currency –Naira- to devaluate massively last year in a move to streamline its multiple exchange rate system, which had kept the currency artificially high. This significant devaluation, following changes in the exchange regime, resulted in a 56.8% drop in the net value of pension fund assets in US dollars within a year, the National Pension...

The banking sector in the West African Economic and Monetary Union (WAEMU) is facing increasing pressure on its net foreign assets, a situation influenced by several factors and posing a significant risk. However, this also opens potential opportunities for financial entities capable of injecting foreign currency capital. Data from the Central Bank of West African States (BCEAO) reveals that...

Africa could soon overtake China as the world’s top graphite producer. The continent houses the world’s second-largest mine, in Mozambique and Black Rock’s Mahenge project in Tanzania could foster this paradigm shift. Black Rock Mining has obtained approval from the Tanzanian CRDB Bank for two loans totaling $40 million. With this, the Australian firm has met its goal of...

During his inaugural speech for his second term of office, President Félix Tshisekedi announced a renegotiated $7 billion agreement with China in the framework of the 2008 mining convention. The funds will be used primarily to build roads in the country. Last Thursday, the DRC government signed the 5th amendment to the "mines for infrastructure" agreement concluded in 2008 with China. The...

After splitting from parent company Appzone in 2022, Nigerian fintech firm Zone has secured its first round of funding from a group of investors. This capital injection of $8.5 million will be used to expand its blockchain network, aimed at facilitating transactions between banks and financial service companies. Zone, a Nigerian fintech leveraging blockchain technology to process payment...

A January 2024 study revealed that the future Koné gold mine could deliver more than 100 tonnes of gold over 16 years. Montage Gold, which owns the project, is ramping up efforts to boost this capacity. To achieve this goal, it can now count on Silvia Bottero, who has already overseen the discovery of over 400 tonnes of gold in Côte d'Ivoire. On March 18, Canadian mining company Montage Gold...