If you own a mobile phone, chances are it has tantalum in it from Africa and you have small amounts of the rare metal within inches of your brain. U.S.-based AB Minerals claims to have invented a new disruptive tantalite processing technology that it says will enable tantalum-producing countries to add value to the ore themselves rather than exporting raw ore to China. The company hopes to sell this technology all over Africa. The first African plant is expected to begin operating in Rwanda in 2017. Here’s part of an interview with AB Minerals founder and CEO Frank Balestra.
Mining: Latest News
Peter Pedroncelli, 1:25 am AFKI Original
The year 2016 was not an easy one for South Africa, but investor outlook for the year 2017 certainly looks more positive. Having survived a tough year, investors are now looking at South Africa to gauge whether or not to invest their funds in the emerging market, but there are a flurry of reasons to give the country a second glance in 2017. We take a look 12 things that are expected to improve investor outlook in South Africa during 2017.
Dana Sanchez, 1:29 pm
Steinmetz’s attorney says his client is determined to prove his innocence. He says Guinean President Alpha Conde is trying to cover his own corruption by confiscating Steinmetz’s mining rights. The investigation is being conducted in the U.S., Switzerland and Guinea, part of a global push led by the OECD to address official corruption in member states, an Israeli newspaper reported. Guinea is not an OECD member. There are no African member countries in the Paris-based Organisation for Economic Co-operation and Development.
Dana Sanchez, 9:32 am
Sibanye Gold, South Africa’s largest gold producer, is buying Stillwater Mining Company in Montana — the only N. American producer of platinum and palladium. The purchase will make Sibanye the world’s third-largest platinum producer. Sibanye counts among its largest shareholders SA’s government pension fund. Stillwater shares surged Friday on the news. The sale makes sense because of the strengthening U.S. dollar, which has hurt Stillwater in export markets. “With Mr. Trump becoming president … he’s probably more friendly toward mining and sees the necessity of it,” the Sibanye CEO said.
Peter Pedroncelli, 2:33 am AFKI Original
African business leaders make use of social media to communicate with and mentor their followers, dropping pearls of wisdom in under 140 characters. From South Africa to Nigeria, the high profile personalities and multi-millionaires from Africa offer their opinions on many issues while advancing their own agendas through social media. Here are 12 African business leaders worth following on Twitter.
Dana Sanchez, 1:26 pm AFKI Original
Ugandan engineer Brian Turyabagye designed a biomedical smart jacket to quickly and accurately diagnose pneumonia, which kills 27,000 Ugandan children under the age of 5 every year. Most of these cases are due to pneumonia being misdiagnosed as malaria. He’s one of 16 African engineers who’ve come up with problem-solving innovations that got the attention of private and public stakeholders in the U.K. The 16 engineers are in the U.K. for 6 months of mentoring. They’re vying for a $30,000 prize.
Peter Pedroncelli, 2:35 am AFKI Original
The best-performing businesses in the Johannesburg Stock Exchange have provided up to fifteen-fold returns for smart investors over the last five years. A hypothetical initial $1,000 investment placed in the best performing company on the South African benchmark five years ago would have grown to $15,000 by now. Here are the 12 best-performing businesses on the Johannesburg Stock Exchange in the past five years.
Dana Sanchez, 12:55 pm
Gold mining companies, once the powerhouses of South Africa’s economy, are in a 20-year decline but illegal miners are thriving. Even school children are skipping school to make what they call “easy money” mining. Many communities considered traditional have permission to mine, but efforts to get their activities formalized and recognized under South African law haven’t materialized. Some people are calling for the creation of a legal artisanal and small-scale mining sector in South Africa.
Peter Pedroncelli, 6:02 am AFKI Original
Despite all of the issues plaguing South Africa at the moment, the country may manage to avoid a ratings downgrade in 2016. After surviving the potential downgrade of the country’s investment grade credit rating in June this year, the ratings agencies are set to pronounce judgement on South Africa once again in the coming months, and there is a risk that the country could be downgraded to below junk status. Here are 12 reasons why South Africa will avoid a ratings downgrade this December.
Dana Sanchez, 5:34 pm AFKI Original
Tokyo Sexwale’s story needs to be made into a Hollywood movie. He’s a anti-apartheid activist who did time with Nelson Mandela, a billionaire diamond magnate worth $200 million at one point, a TV host, former housing minister, soccer activist and a peacemaker. Now he’s being investigated in the U.S. as one of three South Africans who “enriched themselves” using millions of dollars of U.S. investor funds.
Kurt Davis Jr., 1:34 pm AFKI Original
African private equity deals fell to $2.5 billion in 2015, compared with $8.1 billion in 2014. Fundraising and transactions are expected to be down further in 2016. It is time to buy for 2017. Market expectations are low in some places, so asset prices are low. Logistics and financial services – going against the past market movement – are huge opportunities if you can buy in at low asset prices and ride the unavoidable African rebound in the next year and beyond.
- Real Estate