Miners Association of Nigeria (MAN)’s Post

Namibia’s mining sector generates N$51.5 billion in 2023 -contributes N$6.8 billion in taxes - spent N$21.022 billion on local procurement - spent N$891 million on exploration -employs 18,000 people The Chamber of Mines Namibia says the mining sector generated N$51.5 billion during the 2023 financial year, contributing N$6.8 billion in taxes including the pay as you earn (PAYE). The Chamber’s President, Zebra Kasete, said the mining sector’s financial performance demonstrated significant growth, as evidenced by the total turnover which represents a 35.9% increase compared to the N$37.976 billion recorded in 2022. "Several factors contributed to this growth, including a weaker exchange rate, higher prices for gold and uranium, and increased production of gold, uranium, and diamonds. Moreover, the sector achieved an impressive improvement in overall profitability,” Kasete said. “In 2023, it recorded a collective profit of N$2.731 billion, a stark contrast to the N$391 million loss reported in 2022. Notably, the collective profit was driven by the exceptional performance of B2Gold Corp.’s Otjikoto mine, attributed to higher gold prices, increased production, and lower operating costs." https://lnkd.in/dpGa_zPx #namibia #jobs #GDP #jobs #miningsector #localprocurement

🚀 Nigeria's Revised Mining Act Set to Boost GDP and Drive Economic Growth! 🌍 Nigeria is taking a giant leap forward in revitalizing its mining sector with a revised Mining Act, aimed at increasing its contribution to the GDP. As highlighted by the Minister of Solid Minerals, this new framework will foster sustainable development, attract foreign investment, and create jobs, positioning Nigeria as a competitive player in the global mining industry. The move underscores the country's commitment to leveraging its rich mineral resources for economic diversification and growth. Learn more about the potential impact of this revised Mining Act on Nigeria's economy: https://lnkd.in/dugM-rjV #Nigeria #MiningSector #EconomicGrowth #SustainableDevelopment #Minerals #InvestmentOpportunities #GDPBoost #EconomicDiversification

ZM: ZAMBIA CELEBRATES MINING SUCCESS WITH SOLIDARITY MARCH Concerned citizens in Zambia organized a solidarity march today to celebrate the tangible outcomes of various mining investments that are making a substantial impact on the nation’s economic landscape.

MOZAMBIQUE RECOVERS UNDECLARED GOLD AMID EFFORTS TO COMBAT MINERAL SMUGGLING The Mozambican government has recovered approximately 30 kilograms of undeclared gold from mining operators in the central province of Manica over recent years. Silva Manuel, Director of the Manica Provincial Service for Infrastructure, Mineral Resources, and Energy, told AIM that this recovery is a result of ongoing tracking efforts aimed at combating mineral exploitation and smuggling. However, the actual quantity of undeclared gold may exceed 30 kilograms. Companies operating in Mozambique’s mining sector have been involved in under-invoicing and tax evasion, resulting in significant financial losses for the state. In…READ MORE HERE https://lnkd.in/d-D-JrbN

- [Really Basic] Safety [information] when it comes to dealing with Mines and Mining Claims in Zimbabwe: Section 2 of the Estate Agents Act [Chapter 27:17] attests that real estate or '"immovable property":  "includes any interest therein, but does not include mines, quarries or minerals." With that said, a number of individuals do nevertheless inquire with issues pertaining to mining. Also, some registered estate agents have marketed and sold mines and mining claims, and some registered immovable property valuers are able to value mines, mining claims as well mine plant and equipment. Ergo, if one would like to know the ins and outs of how to stake a claim in the mining industry in Zimbabwe, the first port of call, is a studious read of the Mines and Minerals Act [Chapter 21:05]. To get one started, please have a look at the appended treatment prepared by the Ministry of Mines and Mining Development titled, "Procedures and Requirements of Acquiring Licenses And Permits In Terms of The Mines And Minerals Act [Chapter 21:05]" The Ministry of Mines and Mining Development head office is located at: 6th Floor, ZIMRE Centre, Corner Leopold Takawira Street and Kwame Nkrumah Avenue, Harare. Good-speed 🤗 . Regards.

B2Gold’s Otjikoto delivers nearly N$2 billion revenue in 3 months For the first three months of 2024, the Otjikoto Mine in Namibia, in which B2Gold holds a 90% interest amassed revenue of nearly N$2 billion (about US$106 million) achieved through 51 450 onces of gold, the gold miners’ financial statements for the first quarter reveal. Open pit mining operations at the Otjikoto Mine will continue to ramp down in 2024 and conclude in 2025, while processing operations are expected to continue until economically viable stockpiles are exhausted in 2031. Underground operations are currently projected to continue until 2026 with potential to extend underground operations if the ongoing underground exploration program is successful in identifying more underground mineral deposits. https://lnkd.in/duSDEufH

Some of us have been pushing for Ghanaian ownership of the mining sector so that the benefit can stay in the country. However, this comes with a huge initial cost (investment). Recently, I have noticed in the media space that some well-meaning and respected individuals are trying to share their opinions on this subject by advocating for Ghanaian ownership of our Lithium assets. That is very good and what we all wish and pray for, but mining investment comes with personal interest and an appetite for risk! Most rich Ghanaians do not have the appetite for risk. Many of them prefer to send US$ 500,000 to China for goods, sell them within 3 months for an instant profit of US$ 100,000 and beyond! How will such individuals invest in mineral exploration worth several million dollars without certainty of mineralization? The mining industry is not for everyone! It is a specialized industry, so let’s get informed before we start social commentary.

💯 Guinea is booming at the moment 💪💪 This is another excellent piece of news for the country. A country rich in Bauxite and Gold, coupled with talented mining professionals, it's a recipe for success. Is there another country with project pipeline this country currently has? Add in: - Bankan Gold Project Predictive Discovery - Kouroussa Gold Hummingbird Resources plc - Siguiri Gold AngloGold Ashanti - Lola Graphite SRG (TSXV:SRG) - Kiniero Gold Project Robex Gold - Kada Gold Project Asara Resources Limited Looking like a Massive 2024 for the commodity rich country💥👊 #guineamining #guinea #miningnews #mining #miningafrica

🏗️ Kano State Opens Doors for Mining Investors with Assurances of Safety and Support 🌍 Kano State is taking proactive steps to attract and reassure investors in its mining sector by guaranteeing safety and support for businesses. Governor Abba Yusuf has emphasized the state's commitment to providing a secure and conducive environment for mining activities, ensuring that investors can operate without concerns over safety or regulatory hurdles. This initiative is part of Kano's broader strategy to boost its economic growth by capitalizing on its mineral wealth. As Nigeria looks to diversify its economy, Kano's open invitation to investors signals a promising future for its mining sector. Discover more about Kano’s mining sector and its efforts to attract investment: https://lnkd.in/dshtGgJ7 #MiningIndustry #Nigeria #InvestmentOpportunities #EconomicGrowth #Sustainability #BusinessDevelopment #KanoState #SafetyAndSecurity #NaturalResources #Governance