The country needed to improve its geological knowledge in order to maintain mining as an important segment of the economy. As he stated, in this sense, policies were outlined by the Executive, implemented by Mirempet, and executed by IGEO under the National Geology Plan (PLANAGEO). “The level of basic geological knowledge becomes a differential when investors choose a country to invest resources in the search for new mineral deposits. Our future challenge will be to
The sale of rough diamonds at Botswana’s Debswana Diamond Co fell 17% in the first six months of the year, data released by the central bank showed, amid a weak market underpinned by global macroeconomic uncertainty. Debswana, a joint venture of Botswana and Anglo American Plc’s unit De Beers, sells 75% of its output to De Beers with the balance taken up by state-owned Okavango Diamond Co. Botswana and De Beers in late June agreed
Gold investment has shown resilience, according to the World Gold Council’s (WGC) ‘Gold Demand Trends’ report for the second quarter, released on August 1, 2023. Despite some softness in certain areas of the market, the report indicates that investment demand remains robust while fabrication demand faces challenges due to high prices and affordability concerns among consumers. The WGC’s projections for investment in the current financial year remain unchanged, thanks to strong over-the-counter (OTC) demand compensating
the importance of infrastructure investment in southern Africa to support the region’s mineral exports and production. It emphasizes the need for substantial infrastructure expenditures, particularly in transportation and processing facilities, to fully exploit the potential of lucrative minerals and avoid the resource curse. The South African government is taking proactive steps to improve the country’s railway system to overcome infrastructure constraints in the mining industry. Initiatives include implementing the National Rail Policy and appointing a
Angola said the mineral resources from the Great Lakes Region (ICGLR) should contribute to the well-being of the populations and the growth of the economies of the region-based countries. Angola’s stance was expressed by the Secretary of State for Mineral Resources Jánio Correia Victor on Tuesday at the 26th Meeting of the Regional Committee of the International Conference on the Great Lakes Region (ICGLR). Speaking under the topic: fight against the illegal exploitation of Natural
The global shift towards clean energy technologies has sparked an increase in demand for vital minerals, particularly nickel, which enhances the performance, longevity, and energy density of Electric Vehicles (EV) and energy storage solutions. In summary, Africa’s abundant nickel reserves, growing global demand, attractive government policies, untapped market potential, and the presence of strong partners make it an attractive destination for mining companies seeking stable and long-term supplies of this critical mineral.
The US$2.3 billion investment to take South Africa’s leading diamond mine underground bolsters De Beers’ global production and will benefit the South African economy and host communities until at least 2045 De Beers Group has celebrated a key milestone with the delivery of first production from underground operations at its Venetia Mine in Limpopo, South Africa. The overall construction of the underground mine is now 70 per cent complete, with construction and production ramp-up continuing
Russian state-owned atomic energy corporation Rosatom has announced plans to start mining uranium in Namibia by 2029. The corporation through its global mining company, Uranium One plans to complete the prospecting and exploration phase of the project by 2026, dubbed the Wings project. Exploration started in 2010, with geological studies conducted between 2018 and 2021, confirming the presence of a large sandstone-type uranium deposit. With an initially projected lifespan of 25 years, the project will
Anglo-Australian multinational company Rio Tinto has announced its investment of A$40.4 million in the mining firm Sovereign Metals Limited. This investment will allow Rio Tinto to acquire a 15% stake in Sovereign and provide the necessary funding to advance the Kasiya Rutile-Graphite Project in Malawi. In a press release, Ben Stoikovich, Chairman of Sovereign, described the agreement with Rio Tinto as a landmark one, highlighting the potential for Kasiya to become a globally significant supplier
The Angolan Government aims to make the mining sector more diversified and less reliant on diamond exploration activities, stated the Director of the Office of Studies, Planning, and Statistics at the Ministry of Mines, Petroleum and Gas in Luanda yesterday. Alexandre José Garret, who opened the II Safe Life in Mining Forum, part of the conferences at the 38th edition of FILDA 2023, mentioned that this vision of the Government is part of the program
