Devils Below
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Analysis, daily updates on exploitation of Africaโ€™s mineral wealth.

๐Ÿ‘€ Money flows, bribes, pollution - keeping you aware of what you would otherwise overlook.
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๐Ÿ‡จ๐Ÿ‡ฉ Another Week, Another Rule: The DRC's Cobalt Playbook Complimented Again

๐ŸŒ The DRCโ€™s mining regulator said today it will revoke cobalt export quotas from any company that fails to ship its full allocation, breaches tax or environmental rules, or transfers quotas to third parties.

Three days ago it was announced that the allocations of quotas under the new system will be based on companies' production and shipment data for the previous three years. And two days earlier we learned that miners breaching the system would be banned permanently.

๐Ÿ‘ The quotas are to come in force starting from October 16. In its current form, the system allows the government to regulate cobalt production almost manually.

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๐Ÿ‡ฟ๐Ÿ‡ผ Tensions Rise In Zimbabwe Over Chinese Nationals

๐ŸŒ Police in Mutoko, Zimbabwe are investigating after a Chinese national allegedly shot and killed a Zimbabwean citizen at a gold mine on October 9, 2025.

๐Ÿ‡จ๐Ÿ‡ณ China is known for its thousand-year history, full of traditions and rituals.

Accordingly, in Zimbabwe Chinese mining staff is apparently building its own tradition of killing local personnel, which dates back to at least 2020, when a mine owner also shot two Zimbabwean workers.

๐Ÿ‘‰ In a statement issued by the company (see the pic) which runs the gold mine, the victim was called a member of a criminal group that was planning to rob the site, accidentally shot by an armed on-duty engineer who fired into the air.

๐Ÿ‘‰ A more popular version says that the victim was working at the same mine and was killed after asking the Chinese for salary.

Though both sound unconvincing, the history with a Chinese battle engineer shoting into the air and killing a person looks fairly more suspicious.

(The video shows the members of the local community surrounding a group of Chinese nationals caught not far from the corpse).

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๐Ÿ‡ฌ๐Ÿ‡ญ Ghanaโ€™s Ecocide Push

๐ŸŒ A coalition of 20+ Ghanaian civil society groups has urged the country's President to back an ecocide law to tackle illegal gold mining crisis, citing evidence of mercury, arsenic and lead contamination across rivers, soils and food chains.

And the nations were angry, and thy wrath is come, and the time of the dead, that they should be judged ... and thou shouldest destroy them which destroy the earth.

Revelations 11:18

โ“ In July 2025, environment ministers at African Ministerial Conference on the Environment (Nairobi) placed ecocide among Africa's strategic environmental priorities for 2025 to 2027, marking the first time a UN forum has explicitly recognised it as a continental concern.

The DRC and some other countries intend to amend the ICC's Rome Statute to include ecocide.

(The video shows poisoned water being processed for treatment at a plant in Ghana's Central Region)

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๐Ÿ‡จ๐Ÿ‡ฉ Roads, Loads, and Nodes: DRC's Cobalt Family Affair

A major investigation by Africa Intelligence has sent political shockwaves through the DRC. The recent report reveals what it calls
the dangerous connections of the Tshisekedi clan with the looting cartels.


For those who doesn't have โ‚ฌ2,000 for subscription who doesn't have time to read the full text, here are the main claims of the report:

๐Ÿ‘‰ The story began unfolding when a delegation from Kinshasa composed of senior officers and government inspectors was denied access to one of the mining sites owned by Kazakh Eurasian Resource Group in Lualaba Province earlier this year.

๐Ÿ‘ The mine, officially suspended since 2023, was found to be operational under the protection of armed units from the presidential Republican Guard.

๐Ÿ“‘ The internal ERG report identified networks of Lebanese and Chinese operators deeply embedded in the illegal trade in relation to ERG's suspended assets.

๐Ÿค President Tshisekediโ€™s brothers, Christian Tshisekedi and Thierry Tshisekedi have allegedly tried to act as mediators between illegal mining cartels and ERG.

Tshisekedi made a visit on September 10 to Kazakhstan to engage directly with President Tokayev and ERG leadership, possibly trying to cover up the affair that could tarnish the reformist self-positioning of his government.

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๐Ÿ‡ฒ๐Ÿ‡ฑ Is Mali So Scary?

๐ŸŒ On October 10 another investor got lured by the gold-promising soil of Southern Mali. Australian Toubani Resources with the funds borrowed from Singaporean Eagle Eye Asset Holdings decided to invest some $258 million in Mali's Kobada gold mine.

๐Ÿ’ต In what is projected to become one of Africa's major gold mines, Malian government will get a 10% share free of charge thanks to the new Mining Code of 2023.

The output of Kobada is expected to reach 162,000 oz/year, which is close to Allied Gold's Sadiola complex.

โ—๏ธ Mali is often criticized for what is called "resource nationalism" and alledged "pivoting from Western investors to courting Russian interests". However, while more and more investors enter Malian gold sectore, there is still not a single Russian large-scale miner in the country as well as no other major deprived investor except for Barrick.

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๐Ÿ‡จ๐Ÿ‡ฉ In the DRC China Buys Entire Companies

Chinese miners already have within their grasp some 70% of the DRC's cobalt production. Today, the scarlet banner of the PRC is rising above the Congolese gold sector.

๐ŸŒ Chinaโ€™s Chengtun Mining Group is set to buy Canadian Loncor Gold for about $261 million โ€” handing its Adumbi project in northeastern DRC to the Chinese miner. If it closes, the deal plants a Chinese flag near the countryโ€™s only large-scale producer of today - Kibali, which accounts for some 90% of the gold production in the DRC and which is owned evenly by Barrick and AngloGold Ashanti.

It is not normal that those with whom the country has signed exploitation contracts are getting richer while our people remain poorโ€ฆ
said Congolese president Tshisekedi in 2021.

๐Ÿ’ต While the DRC is trying to harness the China-dominated cobalt sector and bring to life the US-sponsored peace framework along with Trump's another mineral deal, Beijing has a strong argument in favour of China's preserving (and even expanding) presence in the DRC - its seemingly endless money and rediness to invest in risky assets.

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๐Ÿ‡ฌ๐Ÿ‡ญ Ghana's Blockchain Madness

๐ŸŒ On Monday Ghana's Gold Board Chief Sammy Gyamfi announced the upcoming launch of blockchain-powered "track-and-trace" system supposed to put on and to illegal gold mining (also known in Ghana as "galamsey"). The suggested scheme seems simple: you mine gold - you get a special blockchain tracker for every single gramm - the Gold Board can make sure no refinery gets gold from those who mine illegally.

โ“ Our world, however, is full of unanswered questions and mysteries. Only 10% of the ocean has been explored, we don't know how Egyptians built their pyramids or who killed Kennedy - CIA or FBI - as well as how blockchain can actually help fight "galamsey".

๐Ÿ‘ Illegal gold mining is called illegal for its ability to bypass official procedures. The Gold Board has already established a monopoly to by gold from small-scale mining, which means no factory or refinery can on their own buy the production of artisanal miners.

Those who continue doing so will just make sure gold gets its crypto-lebel somewhere in the middle of production chain. Those who smuggle gold across the border to the UAE and India will continue smuggling it to the UAE and India.


๐ŸŽ› Unfortunately, blockchain cannot not cure corruption and establish the control of a state over its own borders, nor can AI. People still have to make some real efforts and Ghana's government had better not neglect this.

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๐Ÿ‡จ๐Ÿ‡ฒ Old Biya's Oil Legacy

Cameroon's then Prime Minister Paul Biya straightened his tie as he went to office - probably he did not even suspect that on this day an event occurred that would forever change the future of his country.

It was a rainy day of November, 1977 and it was the day when Cameroon pumped out its first gallon of oil for sale.

As the 92-year-old President is going to leave his throne one way or another, it's high time to assess what his presidency has given to Cameroon, in our case through the prism of its mineral wealth.

Biya kicked off his 43-year long sรฉjour in office when French company Elf Aquitaine had already become a monopolist developer of Cameroon's off-shore oil deposits, controlling nearly 3/4 of the national oil output at some point.

It took next to nothing for the new president and corporates to find a common ground and a common interest.

One day, I was received at the Cameroonian presidency by President Paul Biya. He needed 45 million for his campaign ... They need cash and they need this cash to escape from their Finance Minister.

recollected Alfred Sirven, ex-manager of Elf Aquitaine in 2009

The french company supposedly supported Biya in all his elections in 1982 - 2000. In return, the president didn't bother himself to establish any resemblance of financial discipline in oil. For the first time oil revenues appeared on the state's budget sheets in 1989, a dozen years after oil started generate income for Elf.

As a result, in 1977-2007 Cameroon's public budget lost at least $7 BILLION, according to an IMF study of 2012.

Those who steal from one person spend their lives in shackles and chains - those who steal from all people, in purple and gold.


Elf passed away in 2000, but its legacy lived on. With corrpution soaking into all layers of the state bureacracy, it's no surprise that not only Biya himself, but also his national oil refinery SONARA and national oil company SNH got also tainted by bribery: in 2012-2015 Anglo-Swiss Glencore was caught disbursing some $11 million in exchange for favourable treatment and non-market prices for crude oil.

The most unpleasant part of this story is that a country where oil accounts for nearly 40% of exports (50-60% if natural gas is counted), still doesn't posess its any refining capacity of its, except for the state-owned SONARA refinery suspended 7 years ago, which makes it dependent not only on crude oil exports, but also on petroleum imports.

Meanwhile, with Biya's 43 anniversary in power looming ahead on November 6, 2025, his country's GDP per capita, stands at the same level that saw his ascension to power in 1982.

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๐Ÿ‡ณ๐Ÿ‡ฆ Namibia Clings On To Diamonds

๐ŸŒ Namibia's Central Bank head Johannes !Gawaxab lobbied on Wednesday (October 15) for an extension of a royalty discount granted to the coutry's largest diamond miner Namdeb in 2021.

โ“ Namdeb - JV of De Beers and Namibia's Govt - had planned to wrap up its operations in Namibia by 2023, but with the help of the royalty discount (royalty rate was reduced from 10% to 5% until 2025) the government managed to talk De Beers into extension of operations to 2042.

๐Ÿ”จ Now, in 2025, with the diamond prices lower than ever, De Beers' current owner Anglo Amercian is trying to dispose of its share and Windhoek along with Gaborone are trying to keep their pivotal diamond indutries alive one way or another.

In the communiquรฉ of the Second Session of Namibia-Botswana Bi-National Comission of October 10, both countries expressed their concerns over declining diamond revenues and plans to develop joint strategies to keep afloat natural diamonds.

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๐Ÿ‡ณ๐Ÿ‡ฌ The Plight of Nigeria's Steel

๐ŸŒ Nigeria is reportedly seeking Chinese partnership in another attempt to revitalize the Ajaokuta Steel Plant and the National Iron Ore Mining Company (NIOMCO), out of action since the 20th century.

๐Ÿ‡ท๐Ÿ‡บ In September 2024 Nigeria already signed an agreement with Russian Tyazhmashpromexport (TPE), the original builders of Ajaokuta, with the same objectives.

Due to constraints as a result of the Russiaโ€“Ukraine war, we are now exploring partnership with the Peopleโ€™s Republic of China for the revitalisation of both ASCL and NIOMCO,
said the country's Minister of Steel Development.

Ajaokuta project is a child of hard luck and soft managers:

โ™ฆ๏ธ After construction Ajaokuta was taken from TPE, which was going through countless hardships resulting from the collapse of the USSR

โ™ฆ๏ธ Then in 2003 American SOLGAS was awarded the concession, but lost it less than a year later

โ™ฆ๏ธ Since 2004 the plant fell into the hands of Indian Global Infrastructure Nigeria Ltd, which eventually also failed to kick off production at Ajaokuta

Now it's the Chinese's turn to try their luck in place where the rest of the world has not succeded.

Today Nigeria is in dire need of this plant because it still doesn't have its own production of materials for military hardware. However, initially it was seen as a potential driver of the country's industrialization, that never happened.

In my first presidency, there was the general belief that steelmaking was at the heart of industrialisation. India had built the first steel plant with Russian help, and they built their second almost without help,
noted the then-president Obasanjo.

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๐Ÿ‡ฉ๐Ÿ‡ช Deutschland Returns To Africa

๐ŸŒ Germanyโ€™s leading business lobby for Sub-Saharan Africa (SAFRI) urges Berlin to execute a decisive โ€œAfrica shiftโ€, binding raw-materials pacts, bigger bets on AfCFTA, and fewer China-centric dependencies.

๐Ÿšข By 1914 Imperial Germany held four African colonies - Togoland, Kamerun, German South-West Africa (Namibia), German East Africa (Tanzania, Rwanda, Burundi). Berlinโ€™s next big attempt to project power into Africa came with Rommelโ€™s Afrika Korps, landing at Tripoli on 11 Feb 1941 to duel for the Suez cahnnel and the Middle East oil.

However, now one should not expect that the Germans will simply come to extract resources. Having been bullied by the whole world after WWII, Germany learned to follow subtle ways - and what they will go for is "green" energy, solar panels, patches for ozone holes.

๐Ÿ’ต While the German left will shout about "authoritarian African dictators" and the right will shout about squandering taxpayers' money on bike paths in Nigeria, German capital will impose the "green" agenda and sell overpriced wind turbines to countries where half the population lives without electricity.

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๐Ÿ‡ฒ๐Ÿ‡ฑ Mali: Separatists VS Investments

๐ŸŒ Mali's anti-government Azavad Liberation Front issued a communiquรฉ, wherein it

rejects ... the illegal decision of the junta of Bamako to accord to SOREM Mali S.A. the right to exploit the Intahaka gold mine, situated in the region of Gao.


โ“ SOREM is a Malian mining company with a 100% public ownership, that since its creation in 2022 has taken charge of several mines abandoned by their owners - the Intahaka mine, Morila mine and Yatela mine.

โ€ผ๏ธ The most intriguing part is that the decision in question was effectively made by Bamako more than a year ago - on August 28, 2024.

If we cross out the option where the ALF merely has a very pitiable internet connection, the most viable explanation of such a delay is that the ALF is foreshadowing something - namely, another deal like one that has been concluded recently with Flagship on the Morila mine.

The ALF warns any foreign enterprise, institution or partner against any economic or mining activity...


๐Ÿค Whether the ALF is aware of another upcoming agreement, which would imply cooperation with a foreign investor as is the case of Morila mine and Flagship, or it's just a false start, the message is clearly targeted at foreign audience.

However, if Intahaka could successfully operate under Bamako's oversight all this time and even serve as an alledged source of the Wagner / Africa Corps funding, why would anyone now believe such threats?

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๐Ÿ‡ฌ๐Ÿ‡ณ Guinea and Mali ๐Ÿ‡ฒ๐Ÿ‡ฑ - Another Denials of "Resource Nationalism"

๐ŸŒ Reuters says Guineaโ€™s bauxite exports surged by 23% year on year in the 3rd quarter 2025.

Guinea's leadership was criticized earlier this year for the decision to review several dozen (50+) mining licenses - what some, including the mentioned outlet, continue to call "resorce nationalism". The most recent act of a license revocation took place on October 12, 2025.

In contrast to the loudy media outcries, the attention of Guinea's government was mainly devoted to abandoned and underperforming licenses, which is apparently too sophisticated for liberal journalists to understand. Guinea thereby let responsible producers do their job while rising the effectiveness of stagnant assets.

๐ŸŒ Another story comes from Mali where Allied Gold reported better-than-expected performance in the first 3 quarters of 2025.

Despite the "resource nationalism" of the Bamako government, Allied Gold mainteined the planned levels of production at its Sadiola mine in Western Mali. Even a slight delay in fuel supply did not affect the overall performance.

โ—๏ธThe main lesson here for any powers-that-be is obvious:

What metters is not how a loudy journalist shouting about investment climate would perceive you, but how your policy actually help the nation benefit to the full from its natural wealth.

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๐Ÿ‡ฟ๐Ÿ‡ผ Zimbabwe's Lithium Medal For Consistency

๐ŸŒ Another success of Zimbabwean localization policy - in early 2026 China's Zhejiang Huayou Cobalt will start producing lithium sulphate from its new $400 million plant on Zimbabwean soil.

๐Ÿ”ดAs we've mentioned earlier, Zimbabwe is one of the most consistent champions of local resource processing, which consistently forces foreign investors to establish refining and beneficiation facilities within its borders.

โ€ผ๏ธLithium sulphate is neither raw material, nor the end product. It serves as the bridge between lithium concentrate and battery-grade materials like lithium hydroxide or lithium carbonate.

โ‰๏ธ Having imposed restrictions on raw lithium exports in 2022, Harare went on to ban as well the export of lithium concentrates (in force from 2027). The latter is apparetly the main factor that pushed the Chinese into greater commitment to local production.

Repotedly, Zimbabwe's lithium sulphate production from the plant will reach 60,000 tonnes annually.

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