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Birsok Australia’s Canyon Resources Ltd has announced that it is in advanced discussions with the government of Cameroon in relation to developing a Direct Shipping Ore (DSO) bauxite operation. FrancTrade believes this is with regard to an earlier announced Joint Venture agreement to acquire up to a 75% interest in the Birsok Bauxite Project in
Sama resources, the Canadian-based mineral exploration and development business, hopes to develop and operate the first nickel-copper-palladium district in West Africa which has the potential to become “a new world class base metal district”. The project, which is hosted in the large Yacouba layered complex, will cover 1,487 square kilometres of exploratory ground in Cote d’Ivoire and
FrancTrade view: The anticipated expansion in Guinea’s mining sector is welcome news. However, the industry, both in Guinea and globally, has been through turbulent times and metal prices are still well short of their pre-crisis highs. We understand that the government of Guinea is looking to diversify its economic base and boost telecoms, real estate and
FrancTrade view: The collapse of a key railway bridge linking Côte d’Ivoire to the landlocked countries of Burkina Faso (and Niger) will deal a blow to intraregional trade in the UEMOA zone and may lead to a temporary spike in inflation.The accident will also create a financial and operational hurdle for operator SITARAIL which is part
Moody’s Investors Service has rated the long term debt of the Government of Côte d’Ivoire at Ba3, stable. Structural reforms and investment in infrastructure are supportive of strong economic growth in Côte d’Ivoire according to the ratings agency, which also notes that while the country’s institutional strength remains low, it has shown real and marked
West Africa’s regional stock exchange plans to start a separate section for mining stocks by 2018 which could make it easier for resources companies to raise funds in local currency – the CFA franc. The bourse is amending its regulations and aims to have a dedicated mining platform in place by 2018. The mining exchange
