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<p>CNBC AFRICA&#8217;s exclusive interview with Rwanda Development Board CEO, Francis Gatare, delving into upcoming initiatives and key sectors driving Rwanda&#8217;s industries.</p>


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Rwanda 2024 Investment Outlook: Focus On Priority Sectors

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<p>In this episode, the Kigali Economic Forum becomes a catalyst for Africa&#8217;s global economic transformation. Decision-makers converge to unveil innovative solutions for youth, education, women&#8217;s roles, economic governance, attractiveness, and financing, marking a pivotal moment in shaping Africa&#8217;s destiny as the 21st century unfolds.</p>


Invest Rwanda: Kigali Economic Forum

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<p>South Africa&#8217;s mining production for has April increased by 116.5per cent year-on-year. This comes as the country increased by an annualized 4.6per cent in the first quarter of this year and business confidence also on the up. Henk Langenhoven, Chief Economist at Chamber of Mines joins CNBC Africa for more.</p>


SA mining production up 116.5% y/y

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<p>Earlier this week, global commodities trader IMR &#8211; with a consortium of investors &#8211; announced the R515 million acquisition of PPC’s Lime business in South Africa. The company is the largest supplier of metallurgical-grade lime in Southern Africa. One of the companies in the consortium that bought it is a 100 per cent black youth owned mining-focused investment holding company. Aneesh Misra, Head of Africa at IMR joins CNBC Africa for more.</p>


IMR, Kolobe Nala partner with black youth to acquire PPC Lime

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<p>The 2018 Mining Charter review application is being heard this week, as the mining industry and government remain at loggerheads concerning some key issues in the Charter.</p>


2018 Mining Charter review application: Here’s why this case matters

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<p>Last year, Rwanda embarked on a plan that was expected to drive economic recovery through key sectors such as mining. After tourism was hit harder, the government turned to mining for recovery. Where does the country stand now? Francis Gatare of Rwanda Mines, Gas &#038; Petroleum Board spoke to CNBC Africa’s Julius Bizimungu for more.</p>


RMB’s Gatare on how the mining sector can drive Rwanda’s recovery

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<p>The COVID-19 pandemic has paralysed the mining sector with production going down and mineral prices fluctuating on the international market. Rwanda has laid out plans to facilitate recovery, but how long will it take before the sector fully bounces back. Bernard Nsanzimana, Mining Governance Expert joins CNBC Africa for more.</p>


How can Rwanda’s mining sector recover after COVID-19?

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<p>The roadmap for the growth and development of the Nigerian mining industry gives a clear policy direction on how to develop the sector which offers robust economic potential to diversify the economy, create jobs and increase government revenue. That’s according to Olamilekan Adegbite, Nigeria’s Minister for Mines and Steel Development. He joins CNBC Africa for a conversation on how the COVID-19 pandemic has impacted the sector and the recovery strategy.</p>


Adegbite shares post-COVID strategy for Nigeria’s mining sector

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<p>Even with COVID-19 lock-downs affecting output in the mining sector, mining companies in South Africa saw incredible gains in their profits.</p>


How SA mining companies remained resilient in the face of COVID-19


<p>LUSAKA (Reuters) &#8211; Zambia should treat mineral royalty payments as a deductible expense in order to avoid double taxation and attract investment, the Zambia Chamber of Mines said on Monday.</p>



<p>Since 2019, mineral royalty payments have not been treated as a deductible expense when calculating corporate income tax and that provision was kept unchanged in the government’s annual budget unveiled on Friday.</p>



<p>“The effect of this is that mining companies end up being taxed on income that has already been paid over as a royalty – a situation referred to as double taxation,” the chamber said in a statement.</p>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1110" height="740" src="https://www.cnbcafrica.com/wp-content/uploads/2020/06/Zambia_2-1110x740.jpg" alt="" class="wp-image-374752" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Zambia_2-1110x740.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Zambia_2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Zambia_2-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Zambia_2-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Zambia_2-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Zambia_2-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Zambia_2-696x464.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Zambia_2-1068x712.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Zambia_2-1920x1280.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Zambia_2-600x400.jpg 600w" sizes="(max-width: 1110px) 100vw, 1110px" /></figure>



<p>Reversing that provision could unlock a series of investment approvals and kick-start economic recovery, it said.</p>



<p>The chamber welcomed the withdrawal of duty on ore imports, announced in the budget on Friday, and acknowledged the sensitivity of the issue, given the initiation of negotiations to suspend Zambia’s bond repayments.</p>



<p>Africa’s No. 2 copper producer has asked creditors to defer interest payments on three outstanding dollar-denominated bonds amid a crisis, which has driven spending and hit copper earnings.</p>



<p></p>



<p>Zambia had been wrestling with growing public debt before the coronavirus outbreak forced lockdowns around the world and cut demand for raw materials.</p>



<p>The Chamber of Mines noted that a good proportion of the Eurobond holders also hold shares in mining and prospecting in Zambia.</p>



<p>Such a change in the tax regime would help spur growth in the mining sector and help bondholders mitigate their income loss during the proposed moratorium on coupon payments, the chamber said.</p>


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Zambia chamber of mines says double taxation hurting investment


<p>HARARE (Reuters) &#8211; Zimbabwe’s Landela Mining Venture has reached agreements to take over and revive four idle state-owned gold mines and is in talks to buy more assets from a privately-owned bullion producer, its chief executive said on Friday.</p>



<p>Unlisted Landela is majority-owned by Kudakwashe Tagwirei, an adviser to President Emmerson Mnangagwa and one of the most prominent business people in the country.</p>



<p>Commodities trader Trafigura partnered with Tagwirei in the lucrative fuel sector until buying him out earlier this year. Landela has been on a buying spree of local mining assets since 2019.</p>



<p>Chief executive David Brown, former Impala Platinum Holdings CEO, told Reuters that Landela’s takeover of gold mines run by state-owned Zimbabwe Mining Development Corporation (ZMDC) would be funded through debt and equity.</p>



<p>The mines were put up for sale in 2018 but the government cancelled the process last year without giving a reason.</p>



<p>“Agreements are in place, but a close-out of the process is still subject to being finalised with the appropriate authorities,” Brown said in e-mailed responses to questions.</p>



<p>“I would expect it to be completed in Q3 and will be funded through a mixture of debt and equity.”</p>



<p>The four mines have a capacity to produce at least 85,000 ounces a year, according to ZMDC.</p>



<p>Gold is the single biggest forex earner in Zimbabwe and controlling its production gives Landela greater access to dollars, which are in short supply in the country.</p>



<p>Brown said Landela last month restarted operations at the 21,000 ounces a year Shamva mine after buying it from Metallon Corporation, owned by South African businessman Mzi Khumalo.</p>



<p>Landela plans a bigger open pit mine at Shamva and is in talks to purchase Metallon’s three other gold mines, said Brown.</p>



<p>A Metallon spokeswoman declined to comment.</p>



<p>Until 2017, Metallon was Zimbabwe’s largest gold miner, producing 100,000 ounces a year. A 2016 estimate showed Metallon had a mineral resource of 8.3 million ounces of gold.</p>



<p>“If we can have time to develop the assets properly with the appropriate amount of capital, this will be a significant business,” Brown said.</p>



<p>Last year Landela became partner of Russia’s Vi Holding in the Darwendale platinum project and bought Freda Rebecca gold mine.</p>


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Zimbabwe’s Landela agrees to buy state-owned gold mines, seeks more assets

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<p>On the 9th of June, the Rwanda Mines, Petroleum and Gas Board unveiled a set of strategies aimed at supporting mining companies to resume full operations and help the sector recover from the impact of the Covid-19 pandemic. Francis Gatare, CEO of the Rwanda Mines, Petroleum and Gas Board joins CNBC Africa for more.</p>


How Rwanda’s mining sector plans to dig itself out of the COVID-19 crisis


<p>In these difficult days of COVID-19 it seems a bit of renewed pragmatism is creeping into mining as it negotiates its way through the crisis.</p>



<p>From June 1 deep level mines will be able to ramp up to full production after a lengthy lockdown due that has cost the country between 8 to 10 % in production. There is a lot at stake. More than 400,000 pay packets rely upon unearthing mineral wealth in South Africa that creates 8.1% of the country’s GDP.</p>



<p>For years it has been daggers drawn between government and mine owners in disputes over mining regulations that the latter fear are driving away investors from starting new mines. As I write a court case launched by the mine owners and calling for a judicial review of the Mining Charter – the voluntary document that promote black ownership in the industry. In the past mine owners have seen the document as cumbersome and expensive to comply with.</p>



<p>Roger Baxter, the CEO of the Minerals Council of South Africa – that represents most of South Africa’s major mines said in a CNBC Africa virtual online discussion on mining that negotiations with mining minister Gwede Mantashe, in these difficult days, had been frank and fruitful.</p>



<p>“The mining minister calls me Frank Baxter and I call him Candid Mantashe – that give you an idea of how serious and open these discussions are because we all want to improve the mining over the long term and get the economy growing again. If we can get back to between three and five per cent growth it could turn everything around,” says Baxter.</p>



<p>The CNBC Africa discussion also saw pragmatic words from mining veteran Bridgette Motsepe, an ambassador with the Pan African Parliament, who had worked with Chinese miners in Africa.</p>



<p>“When they come with a project they come with a plan and get things done,” says Motsepe.</p>



<p>All agreed on the panel that the government had done a lot of work to help contain COIVD-19 in the mines. Deshnee Naidoo, the former Vedanta CEO, said tens of thousands of tests had been done in the mines since the pandemic and work was well advanced to set up a tracing system to contain outbreaks.</p>



<p>Mantashe was answering questions in Parliament on COVID-19 during the online discussion and couldn’t take part.</p>



<p></p>


Kalgoorlie_open_cast_mine

Quite frankly, be candid… What African mining bosses and the minister call each other behind closed doors

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<p>Mining sector is the second largest export revenue earner in Rwanda but with Covid-19 affecting the sector like any other sector, how will it bounce back? CNBC Africa spoke to Fabrice Kayihura, Managing Director at Ngali Mining for more.</p>


How is Rwanda’s mining sector fairing amid the COVID-19 crisis?

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On the side-lines of the Mining Indaba in Cape Town, CNBC Africa’s Chris Bishop sat down with John Volanthen, Cave and Rescuer and Marco Pagnini, Operational Risk Director DuPont Sustainable Solutions to discuss mine safety and whether the mining industry is investing enough in looking after its workers.</p>


#MiningIndaba2020: Is the mining industry investing enough to protect its workers?

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CNBC Africa&#8217;s Chris Bishop spoke to David Urqhurt, the Bishop of Birmingham from the Church of England about ethical investing in mining at the just ended Mining Indaba in Cape Town.</p>


#MiningIndaba2020: Church of England’s David Urqhurt on ethical investing in mining

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The runner-up for last year&#8217;s Investment Battlefield, Walter Shamu, Chief Operating Officer of Orion Minerals says the format of the Investment Battlefield made his pitch even more exciting. CNBC Africa&#8217;s Chris Bishop caught up with him at the Mining Indaba to get more insight on the funds raised since last year.</p>


Mining Sector

Rwanda 2024 Investment Outlook: Focus On Priority Sectors

Invest Rwanda: Kigali Economic Forum

SA mining production up 116.5% y/y

IMR, Kolobe Nala partner with black youth to acquire PPC Lime

2018 Mining Charter review application: Here’s why this case matters

RMB’s Gatare on how the mining sector can drive Rwanda’s recovery

How can Rwanda’s mining sector recover after COVID-19?

Adegbite shares post-COVID strategy for Nigeria’s mining sector

How SA mining companies remained resilient in the face of COVID-19

Zambia chamber of mines says double taxation hurting investment

Zimbabwe’s Landela agrees to buy state-owned gold mines, seeks more assets

How Rwanda’s mining sector plans to dig itself out of the COVID-19 crisis

Quite frankly, be candid… What African mining bosses and the minister call each other behind closed doors

How is Rwanda’s mining sector fairing amid the COVID-19 crisis?

#MiningIndaba2020: Is the mining industry investing enough to protect its workers?

#MiningIndaba2020: Church of England’s David Urqhurt on ethical investing in mining

#MiningIndaba2020: Orion’s Walter Shamu on role of the Investment Battlefield in empowering junior miners

News Tips

Advertise With Us

Mining Sector

Rwanda 2024 Investment Outlook: Focus On Priority Sectors

Invest Rwanda: Kigali Economic Forum

SA mining production up 116.5% y/y

IMR, Kolobe Nala partner with black youth to acquire PPC Lime

2018 Mining Charter review application: Here’s why this case matters

RMB’s Gatare on how the mining sector can drive Rwanda’s recovery

How can Rwanda’s mining sector recover after COVID-19?

Adegbite shares post-COVID strategy for Nigeria’s mining sector

How SA mining companies remained resilient in the face of COVID-19

Zambia chamber of mines says double taxation hurting investment

Zimbabwe’s Landela agrees to buy state-owned gold mines, seeks more assets

How Rwanda’s mining sector plans to dig itself out of the COVID-19 crisis

Quite frankly, be candid… What African mining bosses and the minister call each other behind closed doors

How is Rwanda’s mining sector fairing amid the COVID-19 crisis?

#MiningIndaba2020: Is the mining industry investing enough to protect its workers?

#MiningIndaba2020: Church of England’s David Urqhurt on ethical investing in mining

#MiningIndaba2020: Orion’s Walter Shamu on role of the Investment Battlefield in empowering junior miners

News Tips

Advertise With Us

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