Gold

The New Guard
Senegal, Madagascar, Uganda

Every Wednesday, Africa Intelligence spotlights a new generation of movers and shakers in business and politics.

Senegal Fatima Mbengue, PASTEF's ‘Madame Solidarity' and presidential insider

Madagascar Matina Razafimahefa, game, tech and match

Uganda Emmanuel Kibirige, speaking out for small-scale miners

Madagascar
Ex-senator Sylvain Rabetsaroana seeks new financial partner for his gold export business

The former legislator, who is close to President Rajoelina's éminence grise, business magnate Maminiaina Ravatomanga, is looking for an investor to help him develop his company, SOA Gold.

Angola
Alrosa works on exit (and return) strategy for Catoca diamond mine

Ongoing sanctions have pushed the Russian giant to negotiate the sale of its shares to a 'friendly' investor, with the possibility of buying them back should the winds of politics turn back in its favour.

Angola
Rio Tinto keeps close eye on progress at Chiri diamonds project

The mining giant's boss Jakob Stausholm dispatched four emissaries to Angola in mid-April. Their mission was to assess progress on the firm’s two largest projects on the continent.

Gabon, Morocco
Royal miner Managem bets on Gabon gold after troubled 2023

Moroccan miner Managem, a subsidiary of the Al Mada royal holding company, is hoping that Gabon’s subsoil will help it rebound from a troubled 2023 financial year that saw it suffer a 22% fall in sales and its activities still suspended in Somalia.

Madagascar
Last-minute talks before mining code revisions come into force

Since the amendments were adopted last June, industry players have been waiting for a crucial implementation decree to be issued. Ministries and local authorities have yet to agree on how mining taxes will be distributed.

Botswana
Renewal of Shabtai's diamond permit runs into opposition in president's party

A number of BDP members in the National Assembly are contesting the government's decision to renew Israeli business tycoon Gilad Shabtai's operating rights at the Lerala Diamond Mine.

Zimbabwe
Zanu-PF MP Scott Pedzai Sakupwanya tightens grip on Zimbabwe gold industry

Sakupwanya, a freshly-elected MP for the ruling party and owner of the Redwing mine, sold almost half of the gold produced in Zimbabwe in 2023.

Central African Republic
Baraldi Mines Centrafrique wins arbitration case against the government

The Central African Republic has been ordered by the International Arbitration Chamber of Paris to pay the Italian company €676,350 to compensate for its revocation of two mining exploration permits in 2021.

DRC
Luc Gérard Nyafé's takeover of Banro runs into headwinds

Namoya Mine personnel have accused the DRC entrepreneur of not keeping his promises on jobs and the resumption of operations at the gold mine. Meanwhile, former deputy mines minister Victor Kasongo is laying claim to ownership of the site.

Burkina Faso
Simon Tiemtoré sets up gold mining task force

The American-Burkinabe businessman, who acquired the Boungou and Wahgnion gold mines last June and who until then had mainly been active in finance and agribusiness, has put together a close-knit team to develop his mining interests.

Burkina Faso
Boungou gold mine far from recovery

The mine bought by Simon Tiemtoré's Canadian company Lilium Mining in 2023 has ground to a halt because of ongoing militant attacks on fuel deliveries.

Madagascar
Six firms given green light to export gold

A company owned by the former senator Sylvain Rabetsaroana is one of six firms approved by Madagascar's government to export gold. A close associate of businessman Maminiaina Ravatomanga, his arrival in the sector is causing concern among mining operators.

Senegal
Saudi firm in talks to construct gold refinery

Club des Investisseurs Sénégalais (CIS) has struck up preliminary talks with Saudi Gold Refinery Co to explore the idea of a collaboration for the construction of a gold refinery in Senegal.

Kenya, Uganda
Tarus affair adds to tensions between Kenya and Uganda

The incident that has blown up around former Kenyan diplomat and minister Stephen Tarus, who has been accused of gold trafficking in Uganda, has crystallised tensions between the two countries.