Chol Elijah’s Post

Liberia, a small West African nation, is emerging as a promising destination for gold mining investments. With ancient rock formations similar to major gold-producing regions, the country boasts significant untapped potential in its mineral wealth. 'The Republic of Liberia has a business-friendly government and currently receives one of the highest levels of direct foreign investment in West Africa,' according to estimates by Pasofino Gold (@pasofinogoldltd), an exploration company eyeing opportunities in the region. The pro-mining Liberian government collaborates closely with companies like Pasofino to ensure responsible mining practices and community development. As part of its Mineral Development Agreement, Pasofino has conducted comprehensive assessments to provide training, infrastructure, and social services for local communities. With a favorable geological landscape, straightforward permitting processes, and government incentives for exports, Liberia presents an attractive investment climate. The country's GDP is projected to grow by over 5% annually through 2026, driven partly by the mining sector's contribution of around 10%. Pasofino's Dugbe Gold Project, estimated to be worth almost $1.8 billion at current gold prices, exemplifies the region's promising prospects. As Liberia's importance in the global mineral economy continues to rise, companies like Pasofino are well-positioned to capitalize on this untapped frontier. #mining #gold #westafricaeconomy #liberiaeconomy #responsiblemining @mentions: @pasofinogoldltd

Nigeria's latest policy on mining licences is a bold move towards economic progress. The government is granting licences only to companies that plan to process minerals locally, with a focus on creating jobs and supporting local communities. To qualify, companies must present plans for setting up processing plants and adding value to the Nigerian economy. Incentives such as tax waivers and easier access to electricity generation licenses are being offered to encourage investment. It's important to empower local communities by allowing them to hold shares in companies, ensuring fair treatment and economic progress. Let's hope this approach avoids repeating past injustices. #Nigeria #mining #localprocessing #investment #economy

Anglo American is in the early stages of exploring for #copper and #cobalt in Zambia's North-Western province, its chief executive officer Duncan Wanblad said on Monday 5th February 2024. "Zambia's mining sector appears to be on track for renewed activity -and that is good for Zambia and African mining," Wanblad told delegates at the African Mining Indaba in Cape Town. "I am pleased that we are progressing with early-stage exploration in Zambia's North-Western Province to identify potential copper and cobalt opportunities." However, Wanblad also said much more needed to be done to make a compelling argument for #Africa given intense global competition. "We sometimes forget this simple truth: mining jurisdictions across the world are competing for every dollar of investment. Capital is highly mobile and, increasingly, as we are all seeing, the best capital will go to those countries that are set on making themselves competitive for the long term." Anglo American aims to cut capital expenditure by $1.8 billion by 2026, as it grapples with a fall in demand for most of the #metals it mines and a writedown for its British fertilizer project. The company joined peers, including Rio Tinto, Teck Resources and Glencore, in reporting lower profits and returns in the first half of the year, as reduced economic growth hit #commodity prices. https://lnkd.in/e3RDHV89 Zambia🇿🇲 is an #AfCFTA member country #Mining #FDI #Forex #Metal #Markets #GDP #Growth #Economy #Trade #FX #GlobalTrade #WorldEconomy

A major win for President HH! This article highlights a potentially substantial investment by the UAE-based company, IHC, in a Zambian copper mine is a testament to the dynamic nature of the Zambian and African mining environment. This investment is a significant boost towards Zambia's goal of tripling copper output to 3 million tons per annum. Moreover, such investments are crucial for Zambia to sustainably manage its debt crisis, especially considering that last year’s copper production fell to a 14-year low. The geopolitical competition to secure access to green metals is diversifying daily, with new BRICS members like Saudi Arabia and the UAE joining the fray. IHC, in particular, seems well-positioned to succeed against other shortlisted investors, including mining heavyweights South Africa's Sibanye Stillwater and China’s Zijin Mining Group. In essence, this development underscores the fact that the drive towards a zero-emission global economy, while still a long way off, is already influencing and will likely continue investments in places like Zambia and the DRC. For companies looking to seize these opportunities, it’s crucial to establish a presence within Zambia, rather than attempting to access opportunities from outside. Africa Deployments can assist you in establishing a presence in the country using our Employer of Record solution, without the need to register a local legal entity. Feel free to reach out to me for an appointment or click on the link below for more information. #CopperMining #IHCInvestment #GreenMetals #BRICSNations #ZeroEmissionEconomy #AfricaDeployments #EmployerOfRecord https://lnkd.in/dug9Mt6y

🌍 West Africa: The Rising Star of Global Mining – Are You Ready to Invest? 🌍 2024 is shaping up to be a pivotal year for West Africa, which is fast becoming one of the most attractive regions globally for mining and investment. Countries like Ghana, Mali, Guinea, Côte d’Ivoire, Burkina Faso, and Senegal are seeing significant growth, driven by key mining projects and favorable business conditions. 🚀 Why Invest in West Africa? 1. Abundant Resources: The region is rich in gold, bauxite, iron ore, and critical minerals like lithium and cobalt. Projects like the Simandou Iron Ore Project in Guinea, the Doropo Gold Project in Ivory Coast , and the Koné Gold Project in Côte d’Ivoire are driving substantial interest from global mining giants 2. Investor-Friendly Policies: Many West African countries have reformed their mining codes, making it easier for international investors. Côte d’Ivoire, for instance, offers tax incentives that encourage foreign direct investment . 3. Sustainability and ESG: Companies operating in the region are increasingly focusing on sustainable and responsible mining practices. ESG (Environmental, Social, and Governance) compliance is becoming a key factor for international partnerships . 4. Diverse Opportunities: Beyond mining, West Africa offers potential in sectors like agriculture, energy, infrastructure, and tourism, with reforms and development plans supporting growth. 5. Great People and Skilled Talents: West Africa boasts a youthful and skilled workforce. The region is rich in talent across various industries, from technical expertise in mining to innovative entrepreneurs, making it an excellent destination for companies looking to expand or establish operations 💼 Is West Africa on your radar for investment or business expansion? The opportunities are vast, and the timing couldn’t be better to explore this dynamic region. 🔗 #Mining #WestAfrica #GoldMining #InvestmentOpportunities #SimandouProject #DoropoProject #KoneProject #ESG #Sustainability #AfricaInvestments #BusinessExpansion

💰💎 Nigeria Set to Attract $20bn Investment in Mining Exciting news for Nigeria's economy! Investors from the UK, Saudi Arabia, Turkey, and China are eyeing a whopping $20 billion investment in the solid minerals sector. This surge in investment aims to significantly boost the nation's economy. 📢 Key Announcement: Alhaji Mohammed Abba Liman, CEO of Daroo Nigerian Limited, revealed this promising development while addressing reporters in Abuja. https://lnkd.in/dfbtHygy 🌍 Your Thoughts: How do you think this massive investment will impact Nigeria's economic landscape? Share your insights! #Mining #Investment #EconomicGrowth #MiningPartnerships

Auditing oil and mining in an African country is theoretically a worthwhile exercise. But he will likely thread on many very powerful toes locally and they will bite back. Let's see how well that goes. I guess he will then single out big multinationals as they are easier to deal with but those have a breaking point. Beyond a certain pain level, they will simply write off their operation and get out. And once they are out, they remain out. The world's patience with erratic leaders of countries is running dry. And if there is any hope of filling the state's coffers with cash from blackmail I have a feeling that won't work well too. Also, what does Senegal's stance do to the prospect of a West African Gas pipeline toward Morocco? https://lnkd.in/dwm32Yen

Risk aversion is likely to leave major Western miners lagging in a race to tap Africa's reserves of critical raw materials that has gathered pace now Middle Eastern oil powers have begun to emulate China's years of investment on the continent. Attracting the capital needed to advance #copper, #cobalt, #nickel and #lithium projects in #Africa will be high on the agenda when executives, bankers and government officials gather in Cape Town, South Africa, for the annual African Mining Indaba beginning on Monday. Read the full article here: https://lnkd.in/dyEeUNJk

According to the Zambia Extractive Industry Transparency Initiative (ZEITI) report, First Quantum Minerals (FQM) emerged as a key contributor to government revenue in 2019. Their subsidiaries, Kansanshi Mining Plc and Kalumbila Minerals Ltd, made significant tax payouts, representing a combined total of K5.7 billion and K2.6 billion, respectively. FQM's total contribution of K9.347 billion accounted for a whopping 51% of the sector's total revenue, showcasing their commitment to transparency and accountability. General Kingsley Chinkuli, FQM Zambia Country Manager, emphasized the company's dedication to open dialogue and sustainable practices, highlighting their essential role in the country's economy. Discover more about FQM's impactful contributions and the extractive sector's influence on Zambia's economy in the full article: https://lnkd.in/dHyQZRcY #ZEITIReport #ZambiaEconomy #TransparencyInMining #ZambiaMining #MiningMagazine #IndustryInsights #StayInformed #MiningNewsZambia

The costs of gaining a stake are being inflated by an increased appetite for critical minerals needed for the transition to a greener economy, of which Africa's copperbelt, stretching from southern Congo and Zambia to Botswana, has an abundance. Oil powers Saudi Arabia and United Arab Emirates are among those most able to take risk. For Western companies, the hunt for assets is complicated by emerging challenges in jurisdictions previously seen as safer. Copper and lithium mining projects in Latin America, for example, are threatened by factors including adverse weather conditions, a lack of water, poor ore grades and regulatory challenges that have sometimes forced existing mines to close. Chinese miners, meanwhile, have strengthened their hold in Congo and are broadening investment throughout Africa. Late last year, state-backed MMG (1208.HK), opens new tab agreed to spend $1.9 billion to buy Khoemacau copper mine in Botswana. Meanwhile, Saudi Arabia "is a neutral player with a big wallet," and together with the UAE "could potentially be a source of funding for Africa," Ivanhoe CEO Marna Cloete told Reuters. China's Zijin Mining has a 39.6% stake in Ivanhoe's Kamoa-Kakula copper mine. https://lnkd.in/eKqbPaNN