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@MiningBookGuy New #MiningCode in #Gabon to Give a Major Boost to Investments http://www.jdsupra.com/legalnews/new-mining-code-in-gabon-to-give-a-69606/ #Africa From Article: "Developing the mining industry is seen as a means of reducing the dependence on #oil resources which contribute to almost 40% of the country’s GDP, especially since Gabon seems to have significant #manganese (the country is the world’s third producer), #ironore, #gold and #phosphate resources."
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@MiningBookGuy Mining companies tread carefully when considering #exploration http://www.miningweekly.com/article/mining-companies-tread-carefully-when-considering-exploration-2016-02-09 #Indaba #Africa Partial Quote From Article: [Africa Mineral and Energy Development Fund partner David Twist said he was attracted to opportunities in countries that had an investor-friendly #miningcode and that were strongly opposed to corruption. “ #Botswana is our ideal jurisdiction,” he said. Reading stated that #gold was shining at the moment in terms of exploration. “For the first time in a long time, gold has become the most important mined metal. There’s an incredible emphasis on gold now. It accounts for half of the exploration and half of the dealmaking. “ #WestAfrica, in particular, is endowed with many gold deposits so that’s a good place to stay in focus, providing you have the political and fiscal stability,” he noted. The panel also heard how #Japan’s interest in African mining had ratcheted up and could become an alternative to Chinese investment in certain countries.]
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@MiningBookGuy Democratic Republic of Congo ‘will not change #miningcodehttp://www.bdlive.co.za/africa/africanbusiness/2016/02/10/democratic-republic-of-congo-will-not-change-mining-code #DRC #copper #cobalt "Congo’s economy is highly dependent on the mining sector, which accounts for about 20% of gross domestic product (GDP). Copper and cobalt alone accounted for 79% of the country’s exports in the first half of 2015, the central bank said."
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@MiningBookGuy Another #DRC #MiningCode article: Congo activists urge government to pass new mining code http://finance.yahoo.com/news/congo-activists-urge-government-pass-133155989.html
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@MiningBookGuy Critical Resource: Ratings update: Alufer Mining, Guinea http://www.c-resource.com/ratings-update-alufer-mining-guinea/ #Guinea #MiningCode #Alufer #Bauxite
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from #guinea,
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@MiningBookGuy West Africa’s golden future http://www.miningnews.net/resource-stocks/editorial-features/west-africas-golden-future/ Excellent article focused on mining opportunity in West Africa. Forgot to post this a few weeks ago. Hat-Tip to @Kristian, great find. #WestAfrica #gold #ironore #miningcode #geopolitics $HUM.L $GRY.AX $RRS.L $PRU $GSC
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@MiningBookGuy Zimbabwe looking to reform its mining sector https://www.youtube.com/watch?v=wzLhHI_FMsI+ #Zimbabwe #MiningCode #CCTVafrica
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@MiningBookGuy As for #Nigeria: unfortunately, some very negative news with the kidnappings last week. but it's a very large country, and i believe very different regionally. I think Nigeria stands out in 2 ways: 1. people know next to nothing about it as a mining jurisdiction, and it's inherently risky, even without the government/financial problems which anyone can find in recent news online. 2. it's incredibly exciting as a greenfields opportunity, and there has already been talk about Nigeria improving #MiningCode and brining in foreign investment. the country is surely desperate to replace oil revenues because of the low oil price so all of this adds to $THX being a very interesting case study, as i've previously documented in the #thor-case-study room
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@MiningBookGuy PS - actually something else i just remembered! some of you might not be aware of the #MiningCode room. I think I'm the only one that's posted in there so far. But it's relevant to @Spire's post and specifically looking into jurisdictions in #Africa. might be of interest!
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from ~aufrica,
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@Spire @MiningBookGuy - Thx for the #MiningCode room. Didn't know it, but looks interesting!
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@MiningBookGuy Kenya new Mining Act positions the country for great mining growth http://www.miningreview.com/magazine_articles/kenyas-new-mining-act-positions-country-great-mining-growth/ #Kenya #mining #MiningCode $ACA.L Very interesting article I just came across. Who knows...maybe #Kenya will become the 'surprise' #gold #exploration hub for #Africa! Also sounds like it's important for #limestone / #cement. We should all be on the look out for emerging gold juniors in Kenya. Kudos to $ACA.L for their 1st-mover advantage.
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from ~aufrica,
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@MiningBookGuy Kenya hoping to build mining sector and attract explorers https://www.youtube.com/watch?v=w3WLWWJTiqA+ #Kenya #MiningCode #CCTVafrica forgot to post this last week. good details. ~AUfrica folks: please let me know if you're following any #mining #explorers in #Kenya...private message preferred! ;)
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from ~aufrica,
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@MiningBookGuy @Xriva - funny you mention, was just watching this on #Ecuador: Could Ecuador Be the Next Mining Frontier? https://www.youtube.com/watch?v=pQfW2HBAb9s+ Might interest you. #Ecuador #MiningCode #infrastructure #SmallCapPower
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@MiningBookGuy @nicholaslepan RE: https://ceo.ca/index?04abeb562ad3 - some more 'extreme' examples are #Nigeria #Kenya #Myanmar #Iran. I've added positive signals to all of those rooms. There are many other countries/jurisdictions that haven't necessarily been "unfriendly to mining", but are improving simply because of increased stability. Oh, #mongolia could be turning around too. I created the #MiningCode room and haven't added to it for a while. You can find some interesting articles there too.
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@MiningBookGuy Here's an excellent quote from today's $ACA.L NR: Commenting on the West Kenya Project, Cabinet Secretary for Mining, the Honourable Dan Kazungu said, "Kenya is undoubtedly a geologically rich country, and we are taking significant steps, such as the ratification of the 2016 Mining Act, to establish a robust legislative framework to support our developing mining industry. We are excited about the potential of Acacia's West Kenya Project, as it could ultimately lead to the creation of a gold mining industry that would have a benefit to our country, economy and people. We look forward to continuing to work with Acacia and welcome their continued interest and investment in Kenya." #Kenya #gold #Mining #MiningCode
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@MiningBookGuy Arrested development: why Indonesia lifted its mining export ban http://www.mining-technology.com/features/featurearrested-development-why-indonesia-lifted-its-mining-export-ban-5760809/ #Indonesia #Mining #ExportBan #MiningCode #MiningTechnology "The Indonesian Government is hoping to kick-start its economy by lifting a partial ban on exports of metal ore and mineral concentrates, a policy originally aimed at boosting domestic processing and reducing the South East Asian nation’s exposure to volatile commodity prices. Julian Turner reports."
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@MiningBookGuy #Tanzania - President Magufuli orders audit of mining sector to plug loopholes https://www.youtube.com/watch?v=DGZyw3ZiKpg+ #mining #audit #MiningCode #CGTNafrica $ACA.L ~AUfrica #index Not good for Tanzania! mention of "small mines could face imminent closure". This sounds eerily like #Philippines or #Indonesia recently...more issues than just $ACA.L now.
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from ~aufrica,
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@MiningBookGuy RE-POSTING for proper tagging + comments: Randgold Resources: Kibali heads for full production @marketwired/randgold-resources-kibali-heads-for-full-production $RRS.L #Randgold #Kibali #DRC #Congo ~AUfrica Very impressive mine...but also a very important #DRC #Congo #MiningCode concern. I will copy the full quote at the end of the NR, this is worth monitoring for ~AUfrica followers: [It was a source of concern, however, that the DRC government had once again signalled its intention of reviewing the country's 2002 #miningcode with the clear intention of maximising state revenue, Bristow said. This could have a very negative impact not only on the mining industry but also on the economy. "Now more than ever the #DRC should be focused on retaining its existing investors and attracting new ones. It's certainly not the time to harvest more from less for short term gain. It's my sincere hope that this time round the government will engage the mining sector fully in the proposed review to achieve an outcome that will be in the best interests of the Congolese economy as well as the country's mining sector," he said. "The existing code is in fact a good one but it is not always being applied effectively and there are still many mining operations that do not operate under the code. There are also a number of issues and challenges which mining companies are having to face which make operating in the DRC more challenging. In #Kibali's case, these issues include more than $200 million in unpaid TVA and duty refunds."]
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@MiningBookGuy Congo plans to re-introduce mining code revision next week http://www.reuters.com/article/us-congo-mining-idUSKCN18F0XD h/t @sndwky #DRC #Congo #MiningCode ~AUfrica #index
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@MiningBookGuy INTERVIEW: South Africa's Mining Charter raises black ownership threshold to 30%, from 26% https://www.youtube.com/watch?v=U-53XAb4FlU+ #SouthAfrica #MiningCode #MiningCharter #Africa ~AUfrica "Between 2012 and end 2016, South Africa's mining sector shed some 70,000 jobs. Last week alone, Sibanye Gold fired another 1,500 for taking part in an illegal strike. With highly controversial provisions, the Mining charter introduced last week may now accelerate that jobs bloodbath at a time when Africa's largest economy, is in a recession. CGTN's Ramah Nyang explored the legality of the charter's provisions, with the Deputy Editor of the Financial Mail."
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from ~aufrica,