An exploratory study from December 2022 revealed that the Diamba Sud project in Senegal could yield 715,000 ounces over 7.5 years. Fortuna Silver, the firm owning the mine plans to launch exploration works there in the coming months. These could scale up the mine’s potential. Fortuna Silver Mines, a Canadian mining firm, has allocated $9.2 million to its 2024 exploration program for the...

Namibia and Niger are Africa’s two biggest uranium producers. With uranium prices going up, the uranium industry in these countries is set to flourish, and new mines could be commissioned. Deep Yellow is raising AU$220 million (about US$145 million) to advance its Tumas uranium project in Namibia. The firm disclosed the operation on March 11, according to sources consulted by Ecofin...

Between 2019 and 2023, Africa's total arms imports fell by 52% compared to the previous five years, largely due to significant reductions by Algeria and Morocco. Russia accounted for 24% of Africa's arms imports between 2019 and 2023, according to a report issued yesterday by the Stockholm International Peace Research Institute (SIPRI). The report, focusing exclusively on major weapons (such as...

The report, released for International Women's Day, highlights a glaring lack of parity in financing access for startups, even in the modern world. Women-led African startups received $209.3 million in funding between 2019 and 2023, according to a report issued on March 8 by TechCabal Insights. Entitled "Breaking Barriers: Female Pioneers in African Tech 2024," the report points out that...

In a significant stride towards enhancing telecommunications infrastructure across Africa, Telecom Egypt, a prominent telecommunications firm, has partnered with Huawei to lead the way in innovative technologies. These initiatives include pioneering Africa's inaugural DWDM 1.2Tbps single-channel lab test, preparing for 5G implementation, and successfully concluding the continent's first 50G PON...

Burkina Faso's robust efforts to combat terrorism and secure its territories are expected to bear fruit, with the International Monetary Fund (IMF) projecting the country's GDP growth to reach 5.5% in 2024. This optimistic economic forecast follows the government's implementation of significant reforms during its transitional period, as highlighted in an IMF statement released on Thursday, March...

Senegal’s second-largest gold mine, the Mako mine, produced around 120,000 ounces of gold in 2023. This year, Resolute Mining, which owns the project, expects it to produce 140,000-150,000 ounces. The Mako mine hosts 936,000 ounces (26.53 tonnes) of gold mineral resources as of December 31, 2023. That is 37% more than estimated as of December 31, 2022. Australian firm Resolute Mine, which owns...

Women make up 30%-50% of the global workforce in artisanal and small-scale mining (ASM). In Senegal where artisanal and small-scale mines provide nearly 25% of the gold output, improving the working conditions for women directly impacts the sector's productivity. In Senegal, male artisanal miners earn 1.5 times more than women. The Women in Mining (WIM) Senegal network revealed the figure last...

The cumulative net income of companies operating in Cameroon saw a 16.1% increase in 2022, according to the "Economic and Financial Study of Companies in 2022," released on March 4 by the National Institute of Statistics (INS). The document highlights that this rise in corporate profits is "less vigorous than in 2021," and was driven by a limited number of sectors, as most industries have been...

Niger, Mali, and Burkina Faso, now collectively known as the Alliance of Sahel States (AES), are planning to create a joint military force to tackle the terrorism crisis they are all facing. The three countries have made their decision public following a meeting of their military chiefs of staff on Wednesday, March 6, in Niamey. Niger's Chief of Staff, General Moussa Salaou Barmou, emphasized...