Mineral exploration company KoBold Metals, backed by billionaires including Jeff Bezos and Bill Gates, has signed an agreement with London-listed Bluejay Mining to search in Greenland for critical materials used in electric vehicles. KoBold, which uses artificial intelligence and machine learning to hunt for raw
China’s imports of major commodities in June presented a mixed picture of weakness and strength, underscoring the difficulty of ascertaining an overall trend in the world’s biggest buyer of natural resources. On the soft side of the ledger were crude oil, iron ore and copper,
The Nigerian Government has begun the development of mineral resources across the six geopolitical zone of the country, the Minister of State, Mines and Steel Development, Uchechukwu Ogah, said Monday. Mr Ogah disclosed this in Enugu during the closing ceremony of the 32nd Enugu International
Nigeria is set to commence gold production in 2021 after the launch of the Segilola Gold Project in Osun state. This was disclosed by the Honourable Minister of Mines and Steel Development, Olamilekan Adegbite, while taking stock of his first year in office as Minister.
The Nigerian economy has over the years relied heavily on crude oil for foreign exchange earnings and government revenues. As with mono-economies, this reliance makes Nigeria vulnerable to fluctuations in crude oil prices and production. This year, the twin shock of the coronavirus pandemic and
The Nigerian mining sector is bedeviled by a number of problems, chief among which are shady practices that have been identified by various stakeholders and in previous Nigeria Extractive Industries Transparency Initiative (NEITI) audit reports. This report analyses the 11-years (2007 – 2018) audit of
Gold prices rose on Tuesday, supported by fears of a global recession and fallout from central banks’ stimulus measures, while an uptick in risk-appetite after a positive report about a potential COVID-19 vaccine limited bullion’s advance. Spot gold was up 0.2% at $1,734.66 per ounce
Gold Fields and Impala Platinum (Implants) are the latest precious metals producers to flag big jumps in 2019 earnings. The rally in the likes of gold and palladium are clearly flowing to bottom lines. South Africa’s mining industry remains challenged on a range of fronts,
The Federal Government on Thursday declared that the era of criminalizing illegal miners is over as it holds consultative meetings on the formalization of artisanal miners into cooperatives, and small-scale miners into larger mineral and financial enterprises. The declaration was made by the Minister of
Abuja — The federal government may have commenced a subtle move to cede the control of solid mineral resources to states. The government has also constituted a committee led by the Chairman of the Nigerian Governors’ Forum (NGF), Ekiti State Governor Fayemi Kayode to commence