The mining code adopted in 2023 grants Mali up to a 35% stake in its mines, compared to a maximum of 20% under the previous framework. This reform is projected to generate $500 million annually in additional mining revenue for the government and is being gradually applied across the country’s gold mines. The Malian government has secured a mining agreement guaranteeing a 35% national...

Gabon and Chad contributed the most to the foreign exchange reserves of the Central African Economic and Monetary Community (CEMAC) in 2024. Data from the Bank of Central African States (BEAC) shows that the region’s net current account balance remained positive at 6.8% of GDP, despite dropping from 7.9% in 2023. Chad’s balance also declined, reaching 3.3% of its GDP. This means that,...

 (Ecofin Agency)   Benin’s economy grew by 7.5% in 2024, up from 6.4% in 2023, according to the National Institute of Statistics and Demography (Instad). Growth was driven by strong performances in services, industry, and agriculture. The government continues to focus on boosting private investment and long-term projects like the Glo-Djigbé Special Economic Zone to...

The Democratic Republic of Congo (DRC) produces over 70% of the world’s cobalt, but most of it is refined in China, which also owns several Congolese mines. As U.S.-China trade tensions rise, the DRC could suffer. On March 24, 2025, Republican Congressman Christopher Henry Smith introduced a bill in the U.S. House of Representatives to block cobalt refined in China from entering the U.S....

In 2024, Aya Gold & Silver produced 1.65 million ounces of silver from its Zgounder mine in Morocco. The company also completed an expansion project last year, adding a new processing plant to boost production. Last Friday, Aya Gold & Silver released its 2024 silver production results and 2025 outlook in Morocco. According to the document, this year, the Canadian company wants to ramp up output...

Genmin is gearing up to start iron ore production at its Baniaka mine in Gabon by 2026. According to a 2022 pre-feasibility study, to achieve this goal, the Australian company needs $200 million to finance related construction works. Genmin hired Oval Advisory, a London-based consulting firm, to help secure the necessary funds to develop its Baniaka iron mine in Gabon. Announced on March...

Mining contributed 24% to Mauritania’s gross domestic product (GDP) in 2022, driven by gold and iron ore extraction. Despite the performance, reported by the African Development Bank (AfDB), most of the country’s mineral wealth remains untapped. Mauritania secured World Bank approval for its DREAM project on March 27, 2025. This initiative will focus on renewable energy, green hydrogen...

5,000 children from the south of Madagascar will benefit from vital treatment for severe and acute malnutrition. The AXIAN Foundation and UNICEF Madagascar launch and initiative to help 5,000 children aged between 6 and 59 months suffering from severe and acute malnutrition in southern Madagascar. This initiative is part of the Child Nutrition Fund (CNF), a funding mechanism supporting countries...

 (Ecofin Agency)   United Bank for Africa (UBA) saw profits from its CFA zone subsidiaries (UEMOA and CEMAC) surge by 166% in 2024, reaching N259.8 billion ($169 million). The CFA zone now contributes 34% of UBA’s net income, up from 16% a year earlier, solidifying Francophone Africa as a key growth driver. Currency fluctuations, particularly the naira’s...

CMOC Group Limited (CMOC) has announced on March 21st full‑year 2024 results, marking a new chapter of industry leadership with record highs in revenue, profitability, production and sustainability performance. Key financial highlights CMOC delivered a standout financial performance in 2024, with net profit attributable to the parent climbing 64.03% year‑on‑year (YoY) to...