Another encouraging year for mining in West Africa

Investors and miners are increasingly comfortable mining gold in West Africa beyond the traditional mining regions.

IMAGE: Roxgold

West Africa has been at the heart of the African transformation. Over the past decade, this region has achieved remarkable economic growth, outperforming other regions in the continent and emerging as a darling for investors worldwide. Although growth has gradually slowed, West Africa houses some of the continent’s stellar economic performers, namely Ivory Coast, Senegal and Burkina Faso, while being home to Africa’s largest economy and most populous country, Nigeria. Sound macroeconomic policies, ameliorating political conditions and major infrastructure developments have contributed to noteworthy investments in the mining sector of West Africa. From Ghana’s world-renowned gold deposits to Burkina Faso’s unexplored wealth, West Africa will certainly host some of the most attractive projects for the industry across the continent.

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Isabeau Vilandre, Director of the SUMM Project, CIRDI

MACIG Connect Series

The Canadian International Resource and Development Institute (CIRDI) explains how it is working with the Ethiopian Ministry of Mines to develop the country’s mining sector.

CIRDI is an organization created with the support of the federal government of Canada that has projects in Latin America, Asia and in Africa. What is the organization’s mandate and how does the SUMM project help to achieve that objective?

CIRDI is an expression of Canada’s evolving role in developing countries through the sharing of Canadian expertise and experience to governments that request support for global and systematic reforms of their natural resource sector to result in sustainable natural resource management. CIRDI’s mission is to exchange knowledge and expertise with developing countries that enables leading-practice natural resource governance, environmental stewardship, gender equality and ultimately, poverty reduction.

Our projects are designed and delivered collaboratively to meet the needs of our developing country partners in alignment with the following three focus areas: Continue reading

MACIG West Africa Pre-Release 2016

Country: West Africa Countries • Industry: Mining • Publication: Global Business Reports • Release Date: October 2016 • Authors: Laura Brangwin, Alexa Parks, Meredith Veit, Catherine Howe

Executive Summary:

Despite an historical perception of many West African countries as challenging for business, change is on the horizon as companies become more willing to test the water. New initiatives are greatly increasing the attractiveness of the region from an investment perspective, and previous deterrents such as infrastructure deficiencies and economic and political instability are fading into the distance. Meanwhile, the mining sector has started to see movement out of the low cycle this year with increasing gold and zinc prices, seeing players up production, exploration activity and general interest across the Golden West Coast, as well as governments passing new mining codes. Hence, for 2017 West Africa wins the crown as the focal region for the Official Mining in Africa Country Investment Guide, with Cote d’Ivoire and Burkina Faso in the spotlight as our prime locations, alongside the continent’s second and third largest gold producers, Ghana and Mali. Having conferred with executives from across the region’s mining sector, this report gives you, the reader, access to our initial on-the-ground findings, including analysis of the key opportunities and potential challenges as West Africa prepares to leverage on the new-found investment environment; a mining region characterized by high returns and decreasing risk. Continue reading

Beau Nicholls, CEO, and Aurelien Douyere, CFO, Sahara Mining Services

Sahara Mining Services is bringing its full suite of technologies and services to West Africa so as to provide these locally

Could you provide us with an overview of Sahara Mining Services and the services it provides in Africa?

BN: Sahara Mining Services was formed in 2010 by former employees of the Australian group RSG Global. Sahara started out by providing services for exploration projects. We mostly provided services to companies exploring for gold, but also completed work for a range of commodities including iron ore in Sierra Leone, uranium in Niger and bauxite in Guinea. Today, we provide services for every stage of the mining cycle from exploration to mining to mine closure. Continue reading

Mozambican Natural Gas: Approval for Eni, More Uncertainty for the Country

Mozambican Natural Gas: Approval for Eni, More Uncertainty for the Country

Nathan Allen

On February 23, the Mozambican government gave formal approval to Eni’s plan of development (POD) for its 3.4-million-mt/y Coral floating LNG (FLNG) train, although the company has yet to give a final investment decision. This marks a crucial step in the southern African nation’s strategy to monetize its substantial gas reserves.

The Mozambican share of the Rovuma Basin, which is also shared with Tanzania, is believed to hold up to 150 trillion cubic feet of natural gas. The deposit was first discovered in 2012 by two exploration consortiums led by Eni and Anadarko Petroleum and delineated in more detail in subsequent drilling campaigns in 2013.

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The Official Mining in Africa Country Investment Guide (MACIG) 2015

The rise of Asia’s dynamic economies and China’s thirst for commodities in particular have propelled African mining forward in the past two decades. The growth of many of Africa’s mining industries has slowed during the global downturn in commodities markets in recent years, as prices remain low and multinational firms reluctant to invest money in risky plays that appear to have built-in constraints, namely a shortage of power generation, water, and infrastructure.

Nonetheless, Africa is clearly blessed with unmatched mineral resource potential. This potential, coupled with its geographic position at the crossroads of world trade patterns, gives it the potential to become a future center of gravity for global mining. The challenge will be to continue to have stability in governance, which can not only reduce the risks for foreign investors but can also, and more importantly, help African governments build more transparent and efficient mining industries. This challenge will not be swiftly overcome, but the framework for a new political order in Africa is being laid today, and greater transparency is already helping the continent move forward. Many companies recognize this and are positioning themselves in Africa now so that they can diversify their exposure to specific minerals and expand their production of core minerals when global markets recover.

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Rwanda: Future Mining Hub of East Africa?

Rwanda is looking to surpass its neighbors as the region’s top mining jurisdiction.

Sharon Saylor

Rwanda-BLOGKIGALI, RWANDA – Bordered by Uganda and the Democratic Republic of Congo to the north, Tanzania to the east, and Burundi to the south, Rwanda is fast becoming the most attractive business environment in East Africa and across the continent. The 2014 Word Bank Doing Business Report ranked Rwanda as the second easiest country in Africa to do business, after Mauritius and surpassing South Africa. Radical reforms have made it the most improved economy since 2005, and Rwanda now ranks 32nd out of 189 countries. Continue reading