mining investment

The Federal Government of Nigeria has signed a $1.3 billion investment partnership with Africa Finance Corporation to develop an alumina refinery and two mining projects, as regional investment structures adapt to mobilize capital for extractive sector development.

A carbon monoxide poisoning incident that killed 37 miners in Plateau state has exposed critical safety gaps in Nigeria's mining sector, even as a new $2 billion financing group led by former UN officials promises to transform the industry.

Zimbabwe will commission Africa's first lithium sulphate processing plant within a month, while state-owned Mutapa Gold Resources plans US$150 million investment to more than double production to 250,000 ounces annually.