Category: Mining/Oil & Gas

Zimbabwe turns to its precious metals and critical minerals to shield itself from the US war

Chinedu Okafor,Africa Business Insider First Published 15 June 2026 02:00 PM. Zimbabwe intends to leverage its projected mineral export revenue, estimated at $6.5-$7 billion for the current fiscal period, as a strategic buffer against economic instability stemming from geopolitical tensions between the United States and Iran. Zimbabwe plans to use its projected $6.5-$7 billion mineral export revenue as a buffer against economic instability due to US-Iran geopolitical tensions. Rising global gold prices, improved platinum group metals outlook, and increased lithium exploitation are expected to boost fiscal performance. Mining is a crucial…

WAMPEX 2026 Opens in Accra with Call for Responsible Mining and Regional Growth

The Minister for Lands and Natural Resources, Honourable Emmanuel Armah-Kofi Buah, has called on West African countries to leverage responsible mining and reliable power to drive industrial growth, job creation and sustainable development across the sub-region. He made the remarks at the opening of the 2026 West African Mining and Power Expo (WAMPEX) in Accra on Tuesday 3rd June 2026 themed “How Can Responsible Mining and Power Accelerate West Africa’s Sustainable Development.” Addressing participants from across Africa and beyond, the Minister noted that global demand for critical minerals continues to…

How Dangote plans to transform Nigeria from an oil exporter into a global fuel powerhouse

For decades, Nigeria exported crude oil, imported fuel and watched global refining hubs capture much of the value in between. Now, Africa’s richest industrialist wants to change that. Dangote Refinery plans to expand its crude processing flexibility from about 40 grades to as many as 130. The move forms part of a broader strategy to transform the Lagos facility into a global refining, trading and export hub. The refinery is preparing to more than double capacity to 1.4 million barrels per day while increasing imports of crude from international markets.…

IEA opposes renewal of Gold Fields Tarkwa mining lease, calls for greater Ghanaian ownership

First Published,13 May 2026 6:31pm   The Institute of Economic Affairs (IEA) has intensified calls for Ghana to prioritise local ownership of its natural resources, opposing the renewal of Gold Fields’ lease for the Tarkwa mines as it approaches expiration in 2027. Speaking at a press conference in Accra, former Chief Justice and IEA Fellow Sophia Akuffo supported calls for increased Ghanaian participation in the management of the country’s mineral resources, stressing the need for greater national control over strategic assets. The IEA said the proposed lease renewal or extension…

GoldBod targets $400 million weekly gold purchases under GANRAP – CEO

The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, Esq. has revealed that government, through the Ghana Accelerated National Reserve Accumulation Programme (GANRAP), is targeting the purchase of three tonnes of gold every week in a move expected to generate over $400 million weekly for Ghana’s economy through 2028. According to Mr. Gyamfi on TV3’s Key Points Program on Saturday, May 9, 2026, the programme seeks to purchase 2.45 tonnes of gold weekly from the artisanal and small-scale mining sector, while large-scale mining companies are expected to…

Africa could replace lost Middle East oil supplies – Nigeria tells global investors

Segun Adeyemi, Africa Business Insider,First Published,07 May 2026 08:24 AM Nigeria and several African oil-producing nations could benefit from a major global supply gap created by escalating tensions in the Middle East, according to Nigeria’s upstream petroleum regulator, which says the continent is increasingly being viewed as a critical alternative source of crude oil and natural gas. Africa is emerging as a key alternative oil supplier after an estimated 10 million barrels per day were removed from the global market due to Middle East tensions. Nigeria’s oil regulator says declining…

Ghana signs gas deal with Eni, others to increase production at OCTP by 2028

Ghana has signed a key term sheet agreement to expand its domestic gas capacity. The deal which brings together Eni Ghana E&P, Vitol Upstream Ghana Limited and the Ghana National Petroleum Corporation (GNPC) is to advance the next phase of the Offshore Cape Three Points (OCTP) project. The agreement signed on Tuesday May 5, 2026 by the Minister of Energy and Green Transition, John Jinapor formalises commercial principles for the proposed Non-Associated Gas (NAG) Upgrade Project and marks a transition from earlier strategic intent to execution-focused planning. Eni serves as…

Mozambique signals move to join Africa’s mining revolution with 15% state stake and export ban

Mozambique is moving to tighten control over its vast mineral wealth, proposing sweeping reforms that will grant the state a minimum 15% stake in all mining projects while banning the export of unprocessed minerals. Mozambique plans sweeping mining law reforms to give the state at least a 15% stake in all projects and ban the export of unprocessed minerals. The reforms aim to increase state participation, encourage local mineral processing, and ensure more value remains in the country. New rules will overhaul licensing, require 10% of mining revenues for local…

Defending Ghana’s US$1 billion claim of Blue Gold Ltd. at Permanent Court of Arbitration

A-G hires Atuguba and Associates to assist   UPDATED about 17 hours ago,The Law Platform Online   The Office of the Attorney-General and Ministry of Justice has engaged Gateley Legal and Atuguba and Associates to assist Ghana’s legal team defend the claim of US$1 billion in damages brought by Blue Gold Ltd. against the Republic of Ghana.   The Office of the Attorney-General and Ministry of Justice has engaged Gateley Legal and Atuguba and Associates to assist Ghana’s legal team defend the claim of US$1 billion in damages brought by…

AFRICA FINANCE IN BRIEF: Dangote IPO ambitions meet oil shocks and inflation pressure

Bunmi Bailey,Business Day,Nigeria ,First Publsihed,May 2, 2026 The final week of April showed how Africa’s financial landscape is being reshaped by a mix of structural ambition and external shocks. From Aliko Dangote’s landmark refinery, Initial Public Offer plans to coordinated regional oil strategies and rising inflation pressures, policymakers and corporates are navigating a more complex environment—balancing growth, energy security and macroeconomic stability. Africa’s capital markets are heading for a defining moment as Aliko Dangote prepares to list a stake in his oil refinery—an offering that could rank among the largest initial public offerings…