Sir Mick the Miner in bold move to unlock one of Africa’s most exciting iron ore deposits
Almost every major player in mining has tried to build an iron ore mine in Guinea. Now it’s the turn of Mick Davis.
Guinea
MTN said to mull sale of Western African units in market cull
MTN’s sale of its Cyprus unit is just the start of a broader exit from small or problematic markets, with the Liberian unit leading a number of West African divisions being considered for disposal, according to people familiar with the matter.
Gambia’s tinpot dictator Jammeh leaves – allowed to keep ill gotten gains.
West African nations pledged to ensure that Yahya Jammeh keeps his assets and won’t be prosecuted after the former Gambian president relinquished power and left the country.
Gold’s rebound reflected in AngloGold results – promising dividends again
AngloGold Ashanti will consider resuming dividend payments next year after a four-year hiatus as a higher bullion price, weaker currencies in countries where it operates and lower interest payments boost the free cash flow of the world’s third-largest miner of the metal.
Guinea’s Conde, African success story, poised for second Presidential term
Alpha Conde’s ability to keep the soldiers in the barracks has buoyed investor confidence and strengthened his bid for a second term in Oct. 11 elections.
Mailbox: Bank steamrolling transactions to benefit from weakening Rand
Biznews community member Eddie Connell, who works in Guinea, says the banks are steamrolling him into transactions to benefit from the weakening South African Rand.
West Africa takes over from East as world’s new piracy hub
A year after vowing to banish buccaneers from their waters, countries in the Gulf of Guinea — the new epicentre of piracy in Africa — are struggling to get their act together.
Mali plans $9.5bn Chinese-built resources rail links to coast
Landlocked Mali aims to diversify its mining sector away from gold with Chinese-built rail projects worth $9.5 billion that would link it to the Atlantic coast, even as slowing Chinese growth and falling commodity prices cool investment.
Nestle keeps West Africa plants open, ready to act if Ebola spreads
Nestle has no plans to close any of its eight factories or curb output in cocoa and coffee-rich West and Central Africa because of Ebola, but is ready to adapt if it spreads, the Chief Executive of the world’s largest food company said on Wednesday.
Ebola fear factor subsides in U.S. financial markets
Investors should expect more calm to return to U.S. equity markets after some of the most volatile trading since 2012 as the 21-day incubation period for Ebola passes for many in Texas without new infections.