Tag: Mining Companies
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Burkina Faso’s Boungou and Wahgnion gold mines now belong to the government
UK-based gold producer Endeavour Mining and Lilium Mining, which is a subsidiary of Lilium Capital, created by US-Burkinabe billionaire Simon Tiemtore, have settled their legal dispute over the sale of two gold mines in Africa after several agreements were signed with Burkinabe Minister of Economy Aboubakar Nacanabo. The conflict began when Lilium acquired the mines…
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Congo’s South Kivu governor lifts mining suspension in province
Democratic Republic of Congo has lifted a suspension of mining activities in the South Kivu province, with the exception of gold extraction, the region’s governor said in a statement on Thursday. Gold, tin ore cassiterite and hi-tech mineral coltan from the eastern province are mostly mined by so-called “artisanal” miners using rudimentary means. Congo’s gold…
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Guinean Junta Pressures Russian Oligarch’s Gold Group Over $200M Debt Amidst Sanctions Evasion
The Guinean junta is intensifying pressure on Nordgold, the gold mining company owned by Russian oligarch Alexey Mordashov, in a bid to recover a substantial $200 million debt. Despite these efforts, Mordashov, who is under Western sanctions, continues to leverage his deep-rooted connections within Guinea’s mining sector, enabling Nordgold to maintain its lucrative gold exports…
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Joseph Boakai struggles to resolve dispute between Solway Mining and ArcelorMittal
Switzerland’s Solway Investment Group Demands $50M Compensation from Liberia Over Mining Licence Transfer Switzerland’s Solway Investment Group, embroiled in a legal dispute after its mining license was transferred to ArcelorMittal without its knowledge, is now seeking $50 million in compensation from the Liberian government to settle the matter. The demand comes as part of ongoing…
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Zambia asks mining companies to increase energy saving efforts
Officials have asked mining companies in Africa’s second-biggest copper producer to double their power-saving efforts to 40% of normal demand. Zesco Ltd., the state power utility, requested operators to increase curtailments or source their own emergency power from this month. Copper is crucial to Zambia and the industry generates about 70% of export earnings, so…
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