Devils Below
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Analysis, daily updates on exploitation of Africa’s mineral wealth.

👀 Money flows, bribes, pollution - keeping you aware of what you would otherwise overlook.
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🔵Nigeria: 30-Year Old Story Repeats Itself🔵

Nigeria
signed a $1.3 billion pact to build a new alumina refinery — despite having already lost one due to power shortages

🌐 The deal with Africa Finance Corporation, a development finance institution, includes the development of an alumina refinery designed to process 1 million tonnes of bauxite a year and run on a gas-fired cogeneration plant for steam and power.

🔸 The same statement projects 20 years of operation at 95% utilisation and total output of 19 million tonnes of alumina, plus $1.2 billion a year added to GDP and $8 billion in foreign exchange earnings across the project’s life.

🔸In the 1990s, Nigeria had already built an aluminum plant, ALSCON, which was also supposed to produce crazy amounts of aluminum. After that, it turned out that there was not enough power to operate from the national grid, and a local plant couldn't produce it due to gas shortages.

Nigeria is full of industrial plants that the government has built forgetting about power or infrastructure — against the background of constant blackouts due to the debts and lack of gas supply, I assume that building new ones wouldn't really help.

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Meet the 2-Meter Stretch of Road That Holds Up the Global Copper Market

This isn’t the Strait of Hormuz — here, Iran isn’t needed to disrupt global trade.

🌐 On February 28, in Zambia’s Kasumbalesa border area, heavy rains caused small flooding that destroyed a bridge, which used to transport Congolese copper to South African ports.

🔸 While Zambia and Congo share other border crossings, Kasumbalesa is the main one, and often has queues of lorries stretching for tens of miles as they wait to cross.

🚀 Unlike the Middle East, no one fired rockets at this bridge, but its concrete structure still collapsed damaged by the endless stream of ore trucks.

🔸Now, this critical transport artery is blocked — not just for trucks, but also for ordinary people crossing the border between the two countries. Reportedly, Zambia's Road Agency is going to restore access to the route in a couple of hours from now.

Infrastructure is my favorite topic in mining. You can always tell when someone cut corners just by looking at the roads.

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No One Cares How Many People Died?

Yet another landslide in eastern DRC fuels information warfare

🌐Another major landslide at DR Congo’s Rubaya coltan mine on Tuesday results in an undefined death toll, with Kinshasa and M23 pointing at strikingly different numbers of victims.

The landslide follows a similar tragedy on February 28, which allegedly killed some 200 miners.

🔸 From the beginning, both tragedies were about the Kinshasa-M23 tug-of-war, and to lesser extent about the victims. The Congo mines ministry claimed the death toll this time also amounted to 200 people, including 70 children — while AFC/M23 said “only 5-6” people died.

🔸 While the Rubaya mine is currently under control of AFC/M23, in early February it was mentioned on the list of projects Kinshasa offered to the US under the Strategic Partnership Framework.

The Tuesday landslide is now turning into an excellent reason for Kinshasa and Washington to increase pressure on the rebels and Rwanda to squeeze the asset under the pretext of greater safety for workers — and having turned into a politically sensitive propaganda tool, people's deaths are unlikely to be ever investigated.

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🔵Chinese Mines Protected Better Than Embassies and Military Bases🔵

🇿🇼 Chinese mining supervisor Yang Zhian has been jailed for an effective 5 years after a court found him guilty of culpable homicide in the death of a Zimbabwean gold panner.

The incident happened at Long Fortune Mine, a gold site in Zimbabwe, when 31-year-old Pardon Gumbo was shot in the forehead on 5 March 2025.

🔸 That day the deceased and a group of artisanal miners had illegally entered the site. When a security guard failed to stop them, Zhian fired towards the group. Gumbo was struck on the forehead and later pronounced dead.

🔸The Bulawayo High Court acquitted Yang of murder but called use of a firearm “reckless,” sentencing him to eight years with three suspended, leaving an effective five.

💬The use of a firearm in those circumstances was completely reckless, said Justice Chivhayo, the judge who handed the sentence.


The family rejected small compensation offers and called the sentence inadequate. The fact that murder on the territory of a foreign mine in Zimbabwe is not considered murder, as if it were an embassy, is a disgrace, despite all the successes in Zimbabwe's industrial policy.

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Nigeria’s Central Bank has raised gold reserves to $3.5bn through buying locally refined bullion.

🌐 The Central Bank of Nigeria says the gold was refined to international standards and added to official reserves as part of a reserve diversification push. This reportedly brings the CBN’s total gold holdings to $3.5bn.

🔸 The bullion was aggregated by the Solid Minerals Development Fund, Nigeria’s fiscal vehicle for mining proceeds, and bought in naira at prices linked to London Bullion Market benchmarks.

🔸The CBN thus accumulates gold in this way, spending only the domestic currency that it issues itself. DRC, Ghana, Zimbabwe and many other nations also have similar policies.

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🔵March of memory🔵

A coalition of civil society groups in
Nigeria says oil cannot restart in Ogoniland until demands on justice, cleanup and local shares are met.

🌐 The groups, speaking at a solidarity peace walk in Nigeria's Port Harcourt in late February, demanded that issues like environmental degradation, human rights abuses and others be addressed first to heal the wounds of the Ogoni people as core conditions.

🔸 The protesters organised under “Project Ogonize” — led by Tech4Rural, a Nigerian social start‑up using tech for environmental advocacy — demand environmental remediation and want host communities to get stakeholder ownership in operations.

🔸 The CSOs also recall the 1990 presentation of the Ogoni Bill of Rights, the 1995 execution of the Ogoni nine and the 2011 United Nations Environmental Program report on the oil pollution in the area— insisting the Federal Government and companies like Shell address past harms first.

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Forwarded from New Eastern Outlook
🚢📉 According to Kpler, tanker traffic through the Strait of Hormuz has fallen by 90% since the start of the Middle East war.

➡️The Strait of Hormuz is the only sea route from the Persian Gulf to the Indian Ocean. It is a key export route for oil, petroleum products, and liquefied natural gas from Gulf countries to global markets.

🟦The Strait of Hormuz closure in facts and figures:

🔵 Around 200 tankers carrying oil and petroleum products are effectively blocked in the Persian Gulf, with vessel traffic completely halted, according to Lloyd's List;
🔵The most acute congestion problem is observed among very large tankers (VLCCs); there are currently 60 such vessels in the Persian Gulf;
🔵 Among shipowners, the South Korean company Sinokor holds the largest share with six very large tankers (VLCCs) in the region;
🔵 This route typically carries 20 million barrels per day of oil and petroleum products, accounting for approximately 20% of global consumption;
🔵 About 20% of global oil trade and up to 30% of liquefied natural gas exports from the Persian Gulf countries pass through Hormuz, with no alternative routes for Qatar and the UAE;
🔵 More than 80% of the oil, petroleum products, and LNG transported through the strait are destined for Asian countries—China, India, Japan, and South Korea.

@NewEasternOutlook
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❗️ Energy Insecurity: How US President’s Whims Raised Costs for Everyone

As was easy to predict, the latest Trump-provoked exchange of explosive pleasantries in the Middle East has already driven up oil prices. On some markets, prices have surged by 12% compared to the moment the first Tomahawks were launched.

🔸 While one might hear that oil-producing countries like Nigeria and Angola benefit from this, the reality is that even there, it’s more about wealth shifting from people’s pockets into government ledgers and oil companies’ books: part of the increased revenue will come from higher domestic prices.

🔸For places without their own black gold, there’s only sympathy to offer. Even before such price hikes, rumors of fuel shortages alone have sparked panic at gas stations in several cases.

📣 The most extreme reaction came from Guinean drivers, who created a fuel shortage themselves by rushing to stockpile due to rumors of supply cuts, forcing the national oil company SONAP to issue a denial.

Similar denials were released by authorities in Kenya, Uganda, and Zambia. In Tanzania, the president herself took the initiative and demanded that strategic reserves be reinforced.

💸 Although there are no serious supply problems yet, further destruction of infrastructure in the Persian Gulf may indeed lead to long-term price increases — and the rise in oil prices will affect not only motorists, but also all consumers, as transportation of everything from food to iPhones will become more expensive.

Have you felt the price hike yet, or is it still not noticeable?

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Good morning!

🔴 The footage allegedly shows coal-loaded trucks heading toward South Africa's Port of Richards Bay.

The Richards Bay Coal Terminal was established in 1976 as a partnership between the then leading coal companies. Today South Africa remains Africa's biggest coal producer, coal consumer, and coal exporter.

While highly toxic and dangerous for health as well as for the environment, the coal industry creates some 90,000 jobs.

💡 Anytime you've ideas to suggest, interesting topics to share, or feel that some facts are unfairly overlooked — don’t hesitate to drop a comment here or DM the channel.

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🔵Why Share Money With Foreigners?🔵

🌐Niger cancels operation agreements for three gold‑refining plants, citing repeated contract breaches. The government says it terminated conventions with the 3 companies at the 3 March 2026 council of ministers.

🔸The list of the ostracized included Italian COMINI SARL, British AFRIOR SA and Polish ECOMINE SA, all accused of failing to fund local development, prioritise employment for Nigeriens and respect environmental standards.

💬Only ECOMINE SA, after the second formal notice, gave a partial response seen as non‑performance, says the meeting report.


🔸 Under the 2019 agreements with the government, the 3 companies were expected to build and run new gold refineries. They also had the right to export and sell abroad everything that came to their plants, thus profiting from Niger's gold.

While the terminations follow formal warnings sent on 17 February 2025 and 23 July 2025, the timing most likely coincides with a prolonged rise in gold prices and the outstanding hike in them after the outbreak of another war. Now Niger will be able to keep extra profits from gold trading at home.

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Zimbabwe's Environmental Authorities Boast They Repaired 2.5 Holes

🌐 Bulawayo’s environmental regulator, the Environmental Management Agency (EMA), and the Bulawayo City Council say rapid growth of informal gold processing plants and illegal mining has left suburbs in tatters.

So, the agencies decided to conduct some rehabilitation and reported having filled pits on the territory of 2.2 hectares.

💬From a target of five hectares, EMA and BCC managed to rehabilitate 2,2 hectares of degraded land in the two suburbs at a cost of US$1 000.


🔸 Last year, EMA rehabilitated some 600 hectares of mined land across the country.

Throughout that year, the agency's budget was about $38 million.

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🔵China Will Profit From US' Ambitions in Copperbelt🔵

🌐 Angola's government is reportedly negotiating a $4.8bn Chinese loan to build an oil refinery in Lobito, aiming to cut fuel imports and keep more value from its own barrels.

🔸 The planned refinery will be located at the seaward end of the Lobito Corridor, a rail-and-logistics route linking Angola to Zambia and onward to Central Africa’s copper and cobalt mining regions.

🔸 While the US and EU have openly backed the corridor to lock in access to critical minerals and export routes, China's $4.8 bn investments exceed all the European and American funding channeled into the Lobito railway.

💬...We are contacting Chinese institutions with the support of the contractor, who is also Chinese, in order to obtain this financing, said the CEO of Sonangol, Angola's state oil company.


⚙️ Chinese investors and contractors will thus earn money on the operation of the railway, as well as on the new American mining operations in Copperbelt.

The financing, if completed, will mark the first borrowing by the Southern African oil producer from China since 2017.

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The DR Congo's state miner Sokimo wants to take a 2.9 million oz gold deposit away from AFC/M23

🌐 The row pits Sokimo, the state gold‑mines company (Société des mines d'or de KiloMoto), against Milvest, a Turkish mining operator, after a 2024 deal concerning the Zani-Kodo mine in eastern DRC, which Sokimo says left key commitments unmet.

🌟 The dispute broke out following the replacement of Sokimo's leadership by Felix Tshisekedi in late February. While Zani‑Kodo is as one of the most promising deposits in eastern DRC, the Turkish operator has not provided any firm commitments or precise schedules citing persistent insecurity in the Ituri region, adjacent to the territory controlled by AFC/M23 .

🗺 Due to its proximity to the rebel territory, the deposit constantly triggers suspicions that the mining companies working there, in the absence of Milvest, transfer part of the profits to the AFC/M23 movement. Remarkably, back in 2020 the current AFC/M23 leader Corneille Nangaa was the official holder of the Zani-Kodo license.

⁉️ Although the suspicion that the Turkish operator is unable to expel unknown illegal miners from the site sounds plausible, it is not clear how Sokimo itself is going to do this. Very likely by simply inviting someone else.

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🔵Ghana: Spurring True International Cooperation🔵

Ghana
’s planned gold royalty hike is reportedly facing coordinated pushback from China, the United States and other countries.

🌐 China, the US and other Western governments have mounted an unusually coordinated ​push to get Ghana to halt a gold royalty. Africa’s largest gold producer wants to replace a fixed 5% royalty with a sliding scale of 5%–12% tied to bullion prices.

🔸 Last week, diplomats from China, the US, the UK, Canada, Australia and even South Africa presented a joint document Ghana’s lands and resource minister, claiming that higher royalties would squeeze their margins.

📈 From August 2025 to February 2026, the price of gold increased from $3,360 per ounce to $5,390 — that is, by 60%.

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