Category: Mineral and Metal Commodities

Lucara Diamond Corp. Unveils Impressive 1,094-Carat Diamond from Botswana

  • September 29, 2024
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Lucara Diamond Corp. has successfully recovered an extraordinary rough diamond weighing 1,094 carats from its Karowe Mine in Botswana. This remarkable find follows the earlier discovery of a 692-carat diamond, which was polished by HB Antwerp and sold for over US$13 million. The new diamond will also be polished by HB Antwerp, continuing their partnership.

As the sixth diamond exceeding 1,000 carats recovered by Lucara, this discovery highlights the company’s ability to unearth large, high-value stones from the South Lobe of the Karowe Mine. William Lamb, President and CEO, emphasized that this recovery underscores Karowe’s potential and reinforces the company’s position in the high-end diamond market.

Diamond Beneficiation Project to Empower Indigenous Communities

  • September 14, 2024
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The Aboriginal Business Forum of South Africa (ABFSA) is set to transform the economic landscape of Kimberley with a new diamond polishing and jewellery-making factory. This initiative, aimed at benefiting marginalized Indigenous communities in the Northern Cape, was solidified this week with a memorandum of understanding signed in Namibia. ABFSA CEO Vernon Mostert emphasized that the project will not only create jobs and provide skills training but also help preserve Indigenous cultures and languages. The collaborative effort, involving the Indigenous Peoples Businesses Forum and Ministry of Trade representatives, marks a significant step towards local empowerment and economic justice.

Zambia’s Proposed Minerals Law Risks Undermining Copper Investment and Production Goals, Industry Experts Warn

  • August 18, 2024
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Zambia’s new Minerals Regulation Commission Bill, designed to increase government control over mineral resources, is raising alarms in the mining sector. Industry experts warn that the bill’s provisions, including potential forced state acquisitions, could deter foreign investment and jeopardize the country’s goal of boosting annual copper production to 3 million metric tons. As Zambia strives to position itself as a leading copper producer, the proposed law may inadvertently create new challenges in attracting and retaining essential investments.

Resolute Mining – A Beacon of Success in African Gold Mining

  • June 16, 2024
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Resolute Mining, a leader in African gold mining, boasts over three decades of expertise, with operations in Mali, Senegal, and Guinea. The company is committed to sustainable growth through extensive exploration, aiming to discover new deposits and expand existing resources. Resolute’s dedication to community engagement and responsible resource management underscores its mission to support regional development and environmental stewardship, making it a beacon of innovation and success in the mining sector.

Africa’s Tech Continues to Soar: Fintech Solutions and Record VC Funding Point to a Promising Future

  • April 23, 2024
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In Africa’s dynamic tech landscape, two key developments are reshaping the future: the surge of fintech solutions tailored for freelancers and unprecedented investment in early-stage startups. With freelancers driving the gig economy, fintech platforms are revolutionizing financial management, while TLcom Capital’s $154 million fund underscores growing global confidence in African tech ventures. These trends promise empowerment and growth, heralding Africa’s ascent as a tech powerhouse.

Zimbabwe Implements New Gold-Backed Currency to Address Inflation Woes

  • April 9, 2024
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Image source: https://www.businessinsider.com/dedollarization-zimbabwe-introduces-gold-backed-currency-zig-dollar-inflation-brics-2024-4 In a bid to combat soaring inflation and stabilize the nation’s economy, Zimbabwe’s central bank has unveiled a fresh initiative – a […]

Karowe Diamond Mine Expansion Faces Challenges

  • January 4, 2024
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Beneath Botswana’s Karowe mine, a delayed underground expansion reveals hidden challenges and delayed fortunes. Lucara Diamond Corp’s vision faces an 18-month setback and a 25% cost surge, yet hopes remain high for the mine’s promise of extraordinary gems.

Gold Mining in Africa

  • July 8, 2023
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The gold mining industry in Africa is a vital sector that contributes to employment, economic growth, and the development of local communities. With abundant reserves and ongoing investment, African gold mining continues to play a significant role in the global gold market. We hope this resource has provided you with valuable insights into the world of gold mining in Africa.

Coal Mining in Africa

  • July 8, 2023
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The coal mining industry in Africa is a vital sector that contributes significantly to employment, economic growth, and energy supply. With abundant reserves and key infrastructure such as the Richards Bay Coal Terminal, African coal mining holds immense potential for meeting energy demands and supporting the development of various industries. We hope this resource has provided you with valuable insights into the world of coal mining in Africa.