sharing in governance of extractive industries
Maputo — Mozambique's Minister of Mineral Resources, Esperanca Bias, announced in Maputo on Monday that the US oil company Anadarko found oil deposits in the Rovuma Basin, in the northern province of Cabo Delgado.
Bias, who was speaking during a press conference, explained that it is still a technical presence of oil, because there is still a long way to go for the evaluation of its commercial viability.
However, said the minister, the presence of oil…Continue
Added by GOXI on August 18, 2010 at 10:10 — No Comments
Gabon has signed deals to diversify its economy in an attempt to be less reliable on its dwindling oil reserves.
The government has announced contracts with Asian companies worth $4.5bn billion dollars.
President Ali Bongo signed the agreements on the eve of the country's 50th anniversary of its independence from France.
The projects will revamp infrastructure and create about 50,000 jobs.…
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LUSAKA – Zambia, Africa's leading copper producer, said on Tuesday that it expects a strong performance by the mines over the long-term due to rising metals prices and has urged mineworkers' unions to
support new investors.
Mines minister Maxwell Mwale told Reuters the future of copper mining appeared very promising as the price of the metal, used extensively in construction and wiring, was expected to remain
high over the long-term due to…
Added by GOXI on August 10, 2010 at 16:15 — No Comments
JOHANNESBURG (Reuters) - South Africa's ruling African National Congress is not looking at ways to nationalise mines but wants to intervene in ways to best manage the
sector crucial to the state's economy, an official said on Tuesday.
"There must be rules to govern national interest. It is not a debate about nationalisation. It is about models of state…Continue
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NICE , France— In years past, Africa was always the outsiders’ cornucopia, the font of gold and diamonds, slaves and minerals, cotton
and rubber and, more latterly, oil.
These days, the continent’s riches draw a new cast of prospectors and predators, but the question is the same: who benefits — the people, or a
coterie of political and military elites that has sunk deep roots in
Africa’s postcolonial loam, fed and watered by foreign powers…
Added by GOXI on August 2, 2010 at 15:06 — No Comments
CONAKRY – A deal between Rio Tinto and Aluminum Corp of China could speed up development of Guinea's Simandou iron-ore deposits, but the government of the West African state has not yet approved it, Mines
Minister Mahmoud Thiam told Reuters.
Aluminum Corp of China, known as Chalco, signed a $1,35-billion deal with Australia-based Rio last week for the project, which Rio claims is the world's largest undeveloped deposit of iron…Continue
Added by GOXI on August 2, 2010 at 13:27 — No Comments
Global Witness, the human rights and inflict minerals campaign group, has accused the UK government of acting unlawfully by refusing to put forward companies trading in ‘conflict minerals’ from the Democratic
Republic of the Congo (DRC) for United Nations sanctions.
The organisation made the accusation as it made an application to the UK High Court for judicial review on July 26.
Global Witness says that several UK companies were known to be trading in…Continue
Added by GOXI on July 31, 2010 at 17:41 — No Comments
In Afghanistan, a Threat of Plunder
THE news that Afghanistan has $1 trillion in unmined mineral deposits has been met with some pessimism. Now, it is said, the country will be transformed from its present condition into the
next Congo, whose new wealth from gold, copper and other minerals…
Added by GOXI on July 20, 2010 at 16:27 — No Comments
A study by The World Bank, International Council on Mining and Metals (ICMM), and UNCTAD (Commodities Branch) on using resource endowments to foster sustainable development.
Added by GOXI on July 19, 2010 at 21:55 — No Comments
The IFC report is available at http://bit.ly/cV5Frv
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