Endeavour Africa by Littlegate Publishing

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Editor-in-Chief Carley Fallows editor@littlegatepublishing.com

Space Management Emlyn Freeman emlynfreeman@littlegatepublishing.com

Media Coordinator Andrew Williams andrew@littlegatepublishing.com

Lead Designer Alina Sandu Research Kristina Palmer-Folt Editorial Research Amber Winterburn

Corporate Director Anthony Letchumaman anthonyl@littlegatepublishing.com

Founder and CEO Stephen Warman stevewarman@littlegatepublishing.com

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Editor’s Note

Over the years, Endeavour Magazine has had the privilege to follow the changing fortunes of the African business world. Suffice to say, this has given us a great vantage point from which to observe this remarkable continent’s transformation in recent years.

Isn’t it wonderful that Africa is finally beginning to realise it’s almost limitless potential? The change has been a sight to behold, as lights turn on across every corner of the continent. While the global economy has spluttered through a decade which has been characterised by stagnant growth rates and stubbornly high unemployment, the African continent has undoubtedly been one of the world’s brightest economic hotspots.

What is there to say? Africa, with its increasingly prosperous people and markets, is the future. It has finally succeeded in shedding its reputation in the eyes of the international community as a place synonymous with poverty and conflict.

Of course, there is still work to do. Challenges and threats are never far away and will continue to emerge – particularly in light of the threat posed by populist revolts against free trade and globalisation in the developed world, and rising national debt levels closer to home. In order for the continent to maintain its upward trajectory, investment must continue. If this happens, job creation will continue, trade between nations will rise, and high growth rates will likely be maintained.

Aurum Resources Limited

Aurum Resources Limited is an international ASX-listed Australian gold exploration company with projects spanning from its base in Australia all the way to Côte d’Ivoire. Its current major exploration work has been towards the Boundiali Gold Project in Côte d’Ivoire, where the company is working across four neighbouring exploration tenements which are delivering significant results and further partnerships for the project’s continued development. As such a current project, we are delighted to have been able to catch up with Dr. Caigen Wang, Managing Director of Aurum Resources, who has been on the ground in Côte d’Ivoire and has updates on the most recent developments of the project as it continues to mark a significant exploration step for the company and Côte d’Ivoire’s mining sector.

Côte d’Ivoire is home to 34% of West Africa’s Greenstone belt which hosts a wealth of rich gold deposits. Therefore, the mining industry in the country has long been a rich and lucrative industry which benefits from Côte d’Ivoire’s stable political government and strong economic performance. This rich deposit potential has already seen eight mines operating within the region from companies such as Barrick Endeavour, Perseus, Tietto, Allied Gold and Fortuna. However, Aurum Resources identified sites of underexplored discovery potential across the belt in Côte d’Ivoire and so began operations towards the Boundiali Gold Project.

Across the Boundiali Project, Aurum Resources operates a network of diamond drill rigs to access and study the ore potential of the region. These rigs are known for reducing drilling costs by up to 65%, which in turn needs less capital to keep the operation running. In addition, its ownership of the drill rigs minimises dilution and can fast-track the mined resource growth. For the project, Aurum Resources purchased two diamond drill rigs and the first 26,000 diamond drilling consumables. Just last month, Aurum Resources announced the addition of a third rig which will continue to help the company expand its operations across the project site.

The Boundiali Gold Project, therefore, is located within the Greenstone belt home to the large Syama and Sissingué gold mines which are 11.5Moz and 1.0Moz respectively. The project comprises four neighbouring exploration tenements with the first being the Boundiali Minex Tenement PR0893 (BM) spanning 400 km2. BM’’s holder is Minex West Africa, from which Aurum is earning 80-88% interest through its subsidiary Plusor Global Pty Ltd. This interest is achieved through the expansive diamond drilling programs reaching up to 8,000m. This drilling program will cover a first diamond drilling hole of 400m, to earn 30% interest in the tenement. Then, following a second 400m diamond drilling hole, Aurum will accumulate a further 51% interest leaving it with a total 80% interest in the BN tenement exploration. The total exploration expenditure of USD 2.5million with the additional normal diamond drilling cost of USD 140/m in calculators for expenditure commitment. Therefore, Aurum will play a vital role with 80-88% interest in the future of the gold exploration development.

The second key tenement is the Boundiali DS Tenement PR808 (BD), which covers 260km2 and is held by DS Resources Joint Venture Company of

The Boundiali Gold Project: Exploring Côte

Aurum Resources Limited

which Aurum has an 80% share capital ownership again through its Plusor subsidiary. The diamond drilling at BD has allowed Plusor to acquire its 80% ownership from DS Resources Joint Venture Company’s two shareholders; Ds Resources Sarl from which Plusor acquired a 45% share capital and a further 35% share capital from Turaco Gold Ltd. The acquisition from Turaco Gold comes from Plusor drilling 3,500m diamond holes in Turaco’s other gold projects in Côte d’Ivoire however this is yet to be carried out.

The third tenement spans 167.34 km2 and is located directly south of the BD and BM tenements. Boundiali South Tenement PR414 (BST) is an exploration site which has been granted to Predictive Discovery Côte d’Ivoire 10 years ago in 2014 and now is currently under renewal. Predictive Discovery Côte d’Ivoire SARL’s ownership is split 89% to Turaco Gold Limited and 11% to Predictive Discovery Limited. However, Predictive Discovery Limited has an agreement to a 100% sale to Aurum Resources subject to it obtaining a renewal of BST and being satisfied with the terms of the renewal. In addition, the sale terms agree that it will not

restrict exploration or potential future mining rights and that all developments will gain all required Governmental approvals.

The final Boundiali North Tenement PR283 (BN) has seen some exciting new developments with the recently announced partnership between Geb & Nut Resources SARL (GNRR) and Plusor Global Pty Ltd. The partnership between Aurum Resources’ subsidiary and the Ivorian company aims to continue the exploration and development of the BN tenement. Located immediately north of the BD tenement, the BN tenement covers 208.87km and is currently under renewal in accordance with Côte d’Ivoire’s mining code. From recent step-back drilling at BD, it has ported 90m at 1.16g/t Au from 143m and grades up to 16.82g/tAu1. Upon grant of a new exploration licence, Aurum Resources and GNRR will jointly move forward in the systematic exploration of the tenement. As part of the agreement, Aurum will earn increasingly more interest over the licence grant, with 35% interest upon spending USD 1.2 million within 36 months, 51% interest by spending USD 2.5 million within 60 months, and 70% interest upon completion of the pre-feasibility study for the site.

The Boundiali Gold Project: Exploring Côte d’Ivoire’s

Upon the granting of a mining exploration licence, the ownership structure will see Aurum Resources with 70%, GNRR 20% and the final 10% with the Ivorian Government.

The partnership between Aurum Resources and the Ivorian-owned GNRR marks a big milestone for the Boundiali Gold Project as it continues to develop and bring in more investment from local companies. Managing Director of Aurum Resources, Caigen Wang, highlighted that “this partnership with Geb & Nut Resources is a significant step in expanding our footprint at Boundiali with the addition of the exciting Boundiali North tenement. Our existing knowledge of the region’s geology and mineralization will be invaluable as we explore BN.”. He continues, “We are grateful for GNRR’s confidence in our exploration capabilities and are eager to unlock the potential of

this highly promising tenement. The addition of this new joint venture project strengthens our belief in the potential for discovering a multi-million-ounce gold resource at Boundiali”.

As Aurum Resources moves towards the future it plans to continue its high-intensity exploration activities at Boundiali with ongoing scout drilling and assay results expected in the coming weeks. With an unaudited cash balance of ~A$6 million behind it, the company is comfortably on track to continue to develop its operations across the Boundiali exploration site. We look forward to seeing the inaugural resource estimate by late CY2024, as Aurum continues to expand its exploration and drilling operations to make the most of the rich gold deposits available to the region.

Barrick Gold Corporation: DRC

Spanning 13 countries, with 16 sites of operation producing gold and copper worldwide, Barrick Gold Corporation is a global heavyweight in the gold mine sector. Its expansive portfolio can be seen across the world finding and operating some of the most prolific, high-margin, and long-life assets in the gold mining sector. Barrick Gold’s operations have key stakes in the Democratic Republic of Congo (DRC), where it operates the largest gold mine in Africa. With the vital development of the gold mining sector in the DRC, Barrick Gold has cemented its place as a key gold producer on both local and international scales. However, even with such a worldwide reputation for gold mining, Barrick Gold’s operations are always focused on stimulating thriving and sustainable economies for local communities.

In the DRC, Barrick Gold has the Kibali Mine Project located 220km from the Haute-Uele province. The mine is owned by Kibali Goldmines SA (Kibali), a joint venture company with 45% ownership with Barrick Gold, 45% with AngloGold Ashanti, and the final 10% by Société Miniére de Kilo-Moto (SOKIMO). The mine is operated by Barrick Gold, and in 2023 produced 343,000 ounces of gold in 2023. The mine has been in operation for the last 10 years, and over that decade has grown to now be the largest and most automated gold mine in Africa. With this vast expansion, the DRC has greatly benefitted from the mine seeing it boost a previously non-existent economy.

The mine itself combines both open pit and underground mining to retrieve the 4.7 million ounces of proven and probable gold reserves. The first gold was poured from the Kibali Mine Project in 2013 from its open pit operations. Shortly after, underground mining began, with the ore being truck hauled by a twin decline to the surface. However, in 2017, this system was replaced by a hauling shaft and materials handling system, which greatly increased the ore production operations.

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The main risks encountered identified in the mining sector are linked to falls, exposure to chemicals, exposure to dust. The main health problems resulting from this are musculloskeletal disorders, dermatological disorders and respiratory disorders. Respiratory functional exploration, acronym RFE, consists of a series of specialized examinations, thus contributing to the early detection and effective treatment of respiratory problems linked to mines. Thanks to advanced tools such as spirometry and blood gas monitoring, each breath becomes a crucial source of lung health information for miners. By scheduling additional medical consultations or tests such as audiometry and skin sensitization testing, workers can effectively prevent occupational health risks. Take the step toward optimal health by scheduling regular screenings, at least once a year.

Today the Kibali Mine Project is made up of 10 mining concessions and a metallurgic plant. The plant comprises twin-circuit sulphide and oxide plants with conventional carbonin-leach, including gravity recovery as well as a floating and ultra-fine grin circuit.

In addition to this, the Kibali mine is also home to 3 hydropower stations which in the first quarter of 2024 contributed a power blend average of 90.89%, with a generating average power output of 4MW at 0.09$/kWh. This shift towards hydroelectric power highlights Barrick Gold’s commitment to implementing green initiatives across its sites of operations to produce great economic benefits for the region, whilst limiting its impact on the environment.

To further facilitate the green electricity supply of the project, a new 16MW solar plant and a battery energy storage infrastructure are being commissioned to help offset the cyclical load on the energy grid and reduce the mine’s overall reliance on diesel-powered generators. It is expected that once in full operation, the miner’s overall renewable energy supply will increase from the current 81% to 85%, with the project running entirely on renewable energy for 6 months of the year.

President and Chief Executive of Barrick Gold, Mark Bristow outlines this key development towards sustainability in a press release, noting that, “Bearing in mind that Kibali is also a leader in automation, the mine is a real role model for mining in Africa. As a long-standing partner of the Democratic Republic of Congo (DRC), we built Kibali in the remote northeast of the country, opening a new mining frontier and, in the process, also promoted the development of a flourishing local economy”. Bristow’s comments highlight the main goal of the project to deliver vital gold production, whilst always working to reduce environmental impacts where it can and create economic benefits for the DRC simultaneously.

As the Kibali mine looks towards the future, it is looking to enter into new gold and copper opportunities in partnership with the government of the DRC. The project’s commitment to boosting the local economy and reducing environmental impacts has already been vastly seen across its last 10 years of operation. Therefore, the project is looking to work more directly with the government to make vital steps towards making the mine project provide even greater economic benefits to the country. In addition to this, Kibali recently announced a key collaboration with the ARSP, a public regulator which oversees the country’s subcontracting sector, which has already seen a vital range of initiatives implemented to bolster Kibali’s leading local content strategy.

Overall, the Kibali Mine Project in the DRC highlights the joint venture’s commitment to developing the gold mining industry in Africa, whilst also implementing real change to local communities and the environment. Through a range of key investments, collaboration with local suppliers, and implementation of renewable energy initiatives, Barrick Gold and the Kibali Mine are setting up the project and country for continued economic, environmental, and social development for the future.

The Largest Gold Mine

Kanu Equipment is one of the largest dealers in West, East and Central Africa, and recently South Africa. Kanu Equipment proudly represents worldclass OEM brands such as Bell and Liebherr and supply and supporting the mining and construction industries. Kanu is committed to providing worldclass quality equipment by supporting its customers throughout every step of their project journey. Our team of passionate industry experts paves the way forward for our valued clients.

Kanu Equipment began its operations in the Congo in 2012, with a mission to reduce the cost of operations in Africa, by providing its customers with the equipment to suit their specific application and needs. Kanu Equipment is not just about the delivery of these pieces of equipment. By purchasing your equipment from Kanu Equipment, customers gain confidence through accessing the company’s overall brand promise. A 24/7 commitment of being available to support you. Our team players co-ordinate with ease the company’s vast combined experience across the mining, earthmoving, construction, and agriculture industries. We take pride in supporting our customers in choosing the right products which are best suited for the job, no matter how challenging.

For Kanu Equipment, its distribution network spans the majority of Africa, with a prominent presence in Botswana, Cameroon, the Democratic Republic of Congo, Ghana, Ivory Coast, Kenya, Namibia, Sierra Leone, South Africa, Tanzania, Zambia and Zimbabwe. In all of these countries, Kanu Equipment provides some of the industry’s leading heavy equipment to its customers. However, outside of this vast reach, Kanu Equipment also provides an international network of support, and aftersales services to customers in countries where the group is not currently physically present with the same distribution network.

One of the key sectors for Kanu Equipment is the agriculture industry, where it provides equipment which is mainly used in sugar plantations. Equipment under its agriculture sector covers the likes of agriculture tractors, articulated tractors, cane loaders, forklifts, haulage tractors, tandem tractors and versa lifts. These are all from leading brands such as Bell Equipment, Case IH and Kemach Forkliftsall of which are known for their reliability and specialisation towards the agriculture sector. Then, in terms of forestry, Kanu Equipment provides Tigercat loaders, drive-to-tree feller bunches, track feller bunchers, skidders, loggers, track harvesters, wheel harvesters, forwarders, felling heads, harvesting heads; Bell timber trucks and Bell loggers.

For the mining and earthmoving industry, Kanu Equipment is passionate about ensuring that it supports its customers not only with expert

Supporting Customers

knowledge, competitively priced parts, spanning the sector by providing Liebherr crawler excavators, crawler loaders, crawler tractors, bulldozers, and wheel loaders which are best suited to the harsh mining conditions, and rough terrains that come with projects within the industry. Kanu Equipment supplies excellent brands such as McCloskey and Superior Industries which make a complimentary addition to the crushing sector of the open cast mining industry. In the construction sector, Kanu Equipment provides a further products such as skid steers, TLBs and graders from leading brands such as Case Construction and New Holland* (*available only in South Africa). Kanu Equipment’s provides topof-the-range Bomag heavy and light equipment for soil/refuse compaction, road repair, maintenance and construction. Therefore, Kanu Equipment is providing the essential machinery needed to complete challenges across a range of sectors, all of which are facilitated with world-class mining, loading, hauling and compaction equipment to benefit its client’s projects throughout its network.

All these equipment offerings are supported by Kanu Equipment’s technical teams which ensure that each customer can choose the equipment which is best suited to each project site, but will support its customers throughout its project life with technical teams, such as maintenance and repairs expertise. In the mining sector specifically, Kanu Equipment has vast experience across both underground and open-cast mining and so the company is ready to utilise this experience to provide its customers with the best equipment that is specifically suited to every mining operation.

A further key aspect of Kanu Equipment’s mining and construction equipment offerings is that it also provides a competitive rental service which gives customers the option and support to rent a piece of equipment. This can potentially save on overall project costs, whilst still making the most of the top-quality equipment that it has to offer.

As we have seen, a big brand that Kanu Equipment is proud to supply is Liebherr which is one of the world’s leading manufacturers of equipment

Kanu Equipment

across a range of different sectors. Each piece of equipment is designed to be technically innovative, user-oriented, and serving numerous different fields across the world. All these qualities align with Kanu Equipment’s mission to being the Most Supportive Dealership on the African Continent. Through Kanu Equipment’s network, Liebherr mining and construction equipment serves countries such as Botswana, Cameroon, DRC, Kenya, Liberia, Namibia, Sierra Leone, Tanzania, Uganda, and Zimbabwe. Then, with earthmoving equipment, Kanu delivers Liebherr’s equipment across Benin, Botswana, Cameroon, Chad, DRC, Equatorial Guinea, Ghana, Kenya, Liberia, Niger, Nigeria, Rwanda, Sierra Leone, Tanzania, Togo, Uganda and South Africa. As we can see, thanks to Liebherr’s equipment, Kanu Equipment can serve a whole range of sectors across such a vast spread of Africa.

As Kanu Equipment focuses on the future it is looking into acquiring new and exciting partnerships with leading African equipment distributors. In September 2023, Kanu Equipment acquired Kemach

Equipment South Africa which was known for its distribution of leading heavy equipment brands across South Africa. These brands include Liebherr, Bomag, and McCloskey, New Holland, Superior Industries and Kemach Forklifts. This extends Kanu Equipment’s span of product offerings, and distribution network across the continent. Kanu Equipment is proud to continue to increase its span over Africa, whilst providing an even greater variety of machinery offerings to its clients.

Overall, Kanu Equipment is committed to ensuring that its customers can carry out every project operation with ease, supported by the best machinery equipment and brands in the world. Kanu Equipment plays a valuable role in multiple sectors as a leading distributor for the African continent. For Kanu Equipment, its customers remain the company’s central focus and throughout every operation, it is working to provide cost-effective and reliable machinery which in turn will help reduce the overall cost of operation across Africa on a daily basis.

Kanu Equipment and Liebherr

Kanu Equipment’s collaboration with Liebherr is a testament to their commitment to excellence in the mining and construction industry. Liebherr, renowned for its innovative engineering and robust machinery, finds a worthy partner in Kanu Equipment, a company synonymous with reliability and superior customer support.

Through their partnership, Kanu Equipment ensures access to Liebherr’s cutting-edge technology, empowering construction professionals with top-of-the-line equipment capable of meeting the most demanding project requirements. From excavators to dozers, Liebherr machines deliver unmatched performance, efficiency, and durability, making them indispensable assets on any worksite.

Moreover, Kanu Equipment’s dedication to customer service complements Liebherr’s

reputation for quality, providing clients with comprehensive support throughout the entire lifecycle of their machinery. Whether it’s procurement, maintenance, or technical assistance, Kanu Equipment stands by its promise to deliver excellence, ensuring that clients maximize the value of their investment in Liebherr equipment.

In an industry where precision and reliability are paramount, Kanu Equipment’s partnership with Liebherr sets a new standard for excellence. Together, they pave the way for innovation and efficiency in mining and construction, empowering businesses to tackle challenges with confidence and achieve unprecedented levels of success.

With Kanu Equipment you are guaranteed to “Experience The Support”.

The United Republic of Tanzania Ministry of Minerals

Tanzania’s landscapes are rich with vital mineral deposits which today, thanks to the country’s key mining industry, is the 4th largest gold producer in Africa. With an abundance of minerals and natural resources such as gold, diamonds, gemstones, coal and natural gas at its disposal, the country’s economy has grown rapidly in line with mining operations to retrieve these resources. Therefore, mining operations in 2020 accounted for roughly 7% of Tanzania’s Gross Domestic Product (GDP) figures, highlighting the prominent role the mineral sector plays in sustaining the country’s economy alongside the energy sector.

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As such a prominent industry bringing vital investment to the country, the President of the United Republic of Tanzania established the Ministry of Minerals as its own entity to promote, regulate and support the mineral sector to maintain its prominent role within the country in 2017. The United Republic of Tanzania’s Ministry of Mineral’s role will now be to formulate and monitor the implementation of mining policies, mine, geophysical and geological surveys, and mining commission affairs. In addition, the Ministry will work to bring value to the mining industry through local content, small-scale mining development, performance improvement, and cooperation with other ministerial departments, agencies, stakeholders, programmes, and projects. This vast role as a governmental body continues to provide the ministry with a stellar reputation for its management of these resources which provide substantial contributions to the national economy and the well-being of Tanzanians thanks to employment opportunities.

The United Republic of Tanzania Ministry of Minerals

Therefore, it is the Ministry of Minerals’ mission to effectively manage Tanzania’s mineral resources through sound policy and legal frameworks to play a vital role in bringing investment to the country and its mining industry. A crucial way that these investments are achieved is through networking to show the geological and infrastructural potential of a region to make investing in mining operations more attractive. Just last month Tanzania attended South Africa’s Mining Indaba Conference in collaboration with the Tanzania Chamber of Mines, which is one of the largest conferences in the sector. The Conference annually brings together about 900 key investors, 40 sectorial institutions and roughly 1000 executives from large companies. The conference serves as a platform for participating countries and organisations to build and strengthen their relationships and business networks across the international mining sector. The conferences provide an essential opportunity for organisations, such as the Ministry of Minerals to seek investment capital, learn about technological advancements in the sector, form partnerships for trade, and

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The Ministry of Minerals’ main focus at the conference was on advancing investment in mining to help accelerate prosperity for the country. This focus remains consistent with the government of Tanzania’s commitments set out in its ‘Vision 2030’ project which aims to facilitate more geoscientific surveys to uncover the country’s mineral potential. Therefore, a large part of the Ministry’s time at the conference was spent promoting investment opportunities in the country’s mining sector in things such as exploration, extraction, and value-added activities. The government-owned Ministry hopes the conference will lead to further investment over the coming year. The conference was also the first time it has collaborated with the private sector to facilitate its participation at the conference. For this, the Ministry thanked its sponsors, which include some of the world’s leading mining companies such as Barrick Gold, Anglo Gold Ashanti, Tembo Nickel, Shanta Gold, TRX Gold, Mantra Tanzania, Petra Diamonds, Orica, City Engineering and AUMS.

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However, a key part of the Ministry of Mineral’s operations outside of the private sector is through strong relationships and partnerships with other vital mining industries within Africa. An example of this keen commitment to partnering with other governmental operations was seen in July last year when the United Republic of Tanzania Ministry of Minerals signed a Memorandum of Understanding (MoU) with the Ministry of Water, Energy and Minerals of the Revolutionary Government of Zanzibar. This agreement continues the two ministries’ cooperation towards making key developments and investments in the relevant mining sectors to bring continuous benefits for both parties. Therefore, the Ministry’s role across the region’s mining sector is to ensure that it continues to bring vital investment that will help shape the future of the country and its citizens for the future through economic development and plentiful job creation.

As we have seen, the United Republic of Tanzania Ministry of Minerals highlights the crucial value that the mining industry provides to the country, and so throughout its operations, it works to ensure that this value continues to expand and with it comes significant investment for Tanzania. With

Harnessing Minerals for the Future

this investment, Tanzanian mining can continue to support and uplift the country by ensuring that the regulation, promotion and investment into the country’s natural mineral resources remains steady for future generations.

Barrick Gold Corporation: Zambia

With a portfolio spanning some of the world’s most prolific copper and gold deposits, Barrick Gold Corporation is a sector-leading gold and copper producer which has an impressive portfolio of high-margin, long-life assets across many prolific copper and gold regions. With these assets, Barrick is focused on delivering continued economic benefits to all of its stakeholders, whilst remaining committed to partnerships within host communities to transform the natural resources of these regions into tangible benefits and mutual prosperity. As the global energy transition continues to take the forefront of the development on a global scale, the mining industry has made key investments into copper mining operations as the metal plays such a valuable role in facilitating the future of renewable energy options. Therefore, Barrick has made a crucial development into Zambia’s Copperbelt to source this valuable resource set on shaping the future of energy development.

Barrick operations span 13 counties with 16 current sites of operation building both copper and gold deposits. However, a key producer of copper for Barrick is in Zambia, where a significant copper deposit can be found. Zambia is one of the largest copper producers on the planet contributing around 4% to the global copper production figures. Copper is fundamental to the global transition towards renewable energy, as it plays a vital role in energy infrastructure, energy storage systems and electric vehicles. However, one of the main issues with the development of copper deposits across the globe currently, is the geopolitical environment in which many are found which has made the supply of the ore often unstable.

Zambia, alternatively, is home to a fairly stable geopolitical climate and so the country is a valuable player in the future of copper development as it works to meet the growing demand for copper on a global scale. This growing demand has already been key to Zambia’s economic growth and the country expects to see a sharp increase over the next few years with an estimated production close to 1 million tons by 2026. Whilst Zambia cannot yet rival the outputs seen in places such as South America, the Zambian government has been investing in the industry and hopes it will one day rival some of the largest copper producers on the planet and subsequently bring exponential economic growth to Zambia in the process.

Barrick’s leading copper operation in Zambia is in the Lumwana Copper mine located 100km west of Solwezi in Zambia’s Copperbelt. The region is one of the most prospective copper deposits in the country, and produces predominately sulphide, which, once treated throughout a conventional sulphide floatation plant, produces copper concentrate for use in a whole range of renewable energy operations. The Lumwana Copper Mine is a conventional open pit mine site, utilising truck, and shovel operations. The mine has a proven and probable copper reserve of 3.0 million tonnes, with 4.0 million in inferred copper resources. In 2023, the mine produced 118,00 tonnes of copper, and by 2024 is set on improving on this figure to grow its role in the global copper production industry.

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We offer competitive compensation for your old equipment. Our expertise also encompasses the cleanup and restoration of salvage yards, as well as the transformation of disorganized mine sites into meticulously maintained areas.

Barrick Gold Corporation: Zambia

Copper is used throughout wind turbines, generators, transformers, inverters, electrical cables, power electronics, information cables, solar thermal and cooling energy systems, and solar panels. Therefore, the production of this ore is vital to supporting the infrastructure of the future, especially in the creation of turbines, solar panels and generators which will lead the world towards a future that is run on renewable energy solutions.

One of the other major benefits of copper is that it is completely recyclable and actually has a much higher recycling rate than any other metal. Even through this recycling process, copper benefits from never losing any of its beneficial properties such as conductivity. Therefore, copper once formed into a metal ore is such a versatile and crucial metal that will continue to play a vital role in energy transmission networks now and for many years to come.

To enhance the copper output of the Lumwana Copper Mine, Barrick has set out its Super Pit expansion project which aims to transform Lumwana into one of the world’s major copper mines with an annual production output of around 240,000 tonnes per year over a lifespan of 30+ years. As part of the project, Barrick will be working alongside Zambia’s

government to help on their mission to significantly revive the country’s copper industry over the next decade. The project is estimated to cost close to $2 million, and the construction of the Super Pit expansion is planned for the end of this year.

Barrick’s announcement of the Super Pit expansion project in January highlighted how since 2019 Lumwana has contributed close to $3 billion to the Zambian economy spanning from royalties, taxes, salaries and the procurement of goods and services from local businesses. Therefore, we can already see the vast role that Barrick’s Lumwana project has played in developing the Zambian economy, which has seen significant economic benefits to stakeholders across the sector. This has been particularly seen in businesses and employment within the local community which are responsible for $472 million in procurement and covers more than 81% of the total spending for Lumwana.

To further align the operation of the Lumwana Mine with the people of Zambia, Barrick has launched its Business Accelerator Programme

The Lumwana Mine: Producing Copper for the Future

which is designed to build the business capacity of Zambian contractors across its supply chains. The programme will therefore equip them with the ability to grow and diversify each of the contractors’ enterprises which will sustain their businesses for years beyond the life of mine span of the Lumwana Mine. This key fostering of relationships within the country, and the sustainability of its operations, is something that President and Chief Executive of Barrick Gold Corporation, Mark Bristow, outlined in the project’s development press release. Bristow outlined that, “In line with Barrick’s partnership philosophy, our RED++ initiative will uplift our host communities through conservation of the natural forest surrounding the mine. Resources have already been allocated and engagement with the communities is underway. We are in discussion with the Ministry of Green Economy and Environment to facilitate the required licensing and our partnership with local government”.

As we have seen from Barrick’s operation in Zambia, the copper industry is a rich and lucrative one that is set on delivering significant continued economic benefits for people across the country. By working closely with the government and local stakeholders, Barrick has expanded the mine’s operation and is set on continuing this development to establish Zambia as a leading copper producer across the global mining sector. With renewable energy set on taking centre stage for copper mining operations as the demand for sustainable energy solutions takes an even more prominent role in the world of the future, Barrick is strategically developing the Lumwana Mine to be a key supplier to these markets which will bring economic benefits to the people of Zambia in the process. We look forward to seeing how the Super Pit expansion continues to develop over the rest of the year, and as Lumwana takes centre stage as a key copper producer across the globe.

National Bank of Rwanda

On a mission to become a world-class central bank, National Bank Rwanda (NBR) provides robust monetary tools to ensure Rwanda’s financial stability and sound financial systems are maintained with innovation, diversity, inclusiveness, and economic integration. Through a framework which fosters a culture of transparency, integrity, accountability, teamwork, and respect, NBR is focused on protecting and enhancing the economic performance of Rwanda and providing greater financial empowerment to people across the country.

NBR was founded in 1964 with the mandate to ensure the price stability of Rwanda and provide a sound financial system for the country. Today, this mission remains its central focus as it works to continuously build sustainable macroeconomic stability for Rwanda through monitoring the financial system’s performance. The financial system for NBR covers the banking, insurance, pensions, micro-finance institutions, and payment sectors. NBR carefully monitors these systems and is ready to adopt the appropriate policies and measures needed to protect the stability of the Rwandan economy.

NBR is governed by a Board of Directors which includes 2 executive members who are the governor and deputy governor, and then 7 non-executive members. The Board is responsible for providing the strategic direction of the Bank and ensuring that throughout its operations the central mandate of the company, to maintain price stability and a sound financial system for Rwanda, is achieved. Then through this strict management, NBR hopes to develop into a world-class bank making key moves towards vital financial development in both the local and international financial sector.

NBR was one of the original 17 regulatory institutions which was formed to implement national measures and commitments to ensure financial inclusion under the Maya Declaration founded at the 2011 Global Policy Forum held in Mexico. The Maya Declaration is a global initiative focused on delivering responsible and sustainable financial inclusion to reduce poverty and increase financial stability. Therefore, with NBR playing a key role at such a vital international conference, we can see that NBR is already a key player in the international market for financial stability, inclusion, and regulation.

A key part of NBR’s operations is the development of the Financial Stability Reports (FSR) which provides a detailed and synthesized report on the current state and changes to the financial system. The report provides a close analysis of the exogenous and endogenous risks that face the sector whether from local or international factors, and asses the current resilience of the sector to these risks. This close monitoring of the financial system of Rwanda allows NBR to ensure that it can overcome any shocks or provide measures to mitigate any potential constraints that it may face. NBR publishes this report annually and it is a vital document to understand how policy will be implemented going forward to ensure the stability and security of the financial sector.

Ensuring Financial Stability for Rwanda

A key part of the financial world is insurance, and NBR is in charge of assessing the financial sphere which covers the insurance and pension sectors to again ensure that it is continuing towards its overall goals to build a sound and stable financial sector. The insurance branch of NBR’s operations spans a legal and regulatory framework, which it utilises to work closely with insurance companies for the betterment of the financial economy. Across the insurance division, NBR follows the international standards laid out by governing bodies such as the International Association of Insurance Supervisors (IAIS) and the International Organisation of Pension Supervisors (IOPS). These standards have allowed Rwanda’s insurance industry to maintain a competitive edge in international markets and therefore bolster the economic reputation of NBR in the process.

To ensure that NBR is continuing to develop towards the benefit of Rwanda, the Bank holds a quarterly meeting to assess the current performance and state of the financial sector. The last meeting was held in February this year and shared the key findings from its 2023 FSR report. The

report outlines that the financial sector for Rwanda across 2023 remained stable and experienced slight growth despite challenges faced by global tensions. The report outlines that the capital and liquidity buffers held by NBR remain strong and ensure the country can be resilient to shocks. The financial sector grew 20% in terms of assets, which is estimated at FRW 10,687 billion, compared to the previous year’s assets at FRW 8,909 billion. The report outlined that Rwanda’s financial sector was in a good and healthy position moving into the next year with many sectors, including the banking sector, making significant growth over 2023.

Overall, NBR is a vital operation that is working within both local and international markets to ensure that Rwanda’s financial sector remains stable and secure for future generations. With measures to ensure that people across Rwanda can access diverse and reliable financial services, especially those in the insurance sector, NBR is well on its way to being a world-class central Bank working tirelessly to maintain price stability and a sound financial system for Rwanda.

TotalEnergies Uganda

Energy demand across the world has skyrocketed over the last few decades, with a particular focus in recent years on producing energy whilst mitigating carbon emissions. This focus has caused industry-leading energy companies such as TotalEnergies to expand its offerings and look to find ways to implement more sustainable infrastructural development across the world. Today, TotalEnergies is a global multi-energy company that produces and markets energy across 130 countries worldwide. The main purpose of TotalEnergies is to provide as many people as possible with affordable, sustainable, reliable, and accessible energy offerings which can lead the energy industry into a future where sustainability inhabits every aspect of the energy sector.

For over a century, TotalEnergies has played a valuable role in developing an integrated and balanced multi-energy transition strategy and today is vital in the production and marketing of energies. These energies include oil and biofuels, natural gas and green gases, as well as renewables and electricity. The company began in 1924, under the name Compagnie Française des Pétroles intending to ensure France’s energy independence. From this original mission, TotalEnergies has significantly evolved and now plays an active role in developing the global energy industry for the benefit of the future.

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A key area of development for TotalEnergies currently is in Uganda, where a rich oil and gas potential is transforming the future of the energy industry. The company has been operating in Uganda since 1955 with TotalEnergies Marketing Uganda Ltd, the company’s marketing and services affiliate. TotalEnergies leads the Ugandan market with 200 service stations located strategically across the country offering consumer products. However, following on from this vital foundation in the downstream petroleum market, in 2010 TotalEnergies established the Exploration and Production affiliate TotalEnergies EP Uganda (TEPU) which focuses on the exploration and production of oil and gas across Uganda.

TEPU vitally works with CNOOC Uganda and the Uganda National Oil Company (UNOC) in a joint venture partnership with TotalEnergies holding 56.67% interest, 28.33% to CNOOC and 15% to UNOC. The partnership is focused on developing Uganda’s upstream oil and gas market in the Lake Alberta region, which is known for its rich oil resources. At present, the petroleum resources of Uganda are estimated to be at 6.5 billion barrels of Stock Tank Oil-Initially-In-Place (STOIIP), with between 1.4 and 1.7 billion barrels estimated to be recoverable. Therefore, vital companies such as TotalEnergies, CNOOC and UNOC are working together to bring this potential to life to develop the region’s energy sector towards the future.

A central project under this partnership is the Tilenga Project. Tilenga is located across the Bulisa and Nwoya districts covering 6 fields of operations. Within these fields, the project aims to drill over 400 wells and 31 well pads aiming to produce 190,000

Maximising Uganda’s Oil and Gas Sector

barrels per day (bopd) at its peak. Across the project, there are 6 pumping stations which ensure that this high level of oil production is possible. This high expected production rate aims to help meet the growing global energy demand, and so the oil produced from the project will be transported to the Port of Tanga in Tanzania via pipeline and can be delivered to international markets.

The East African Crude Oil Pipeline (EACOP) is responsible for taking the oil from the Tilenga project to the port in Tanzania where the oil reserves are stored in a terminal ready for loading onto the jetty for distribution to end markets. The pipeline is connected to the central processing facility, flow lines, lake water abstraction facility, and feeder lines, as well as construction camps and support bases. The pipeline is operated by EACOP Ltd. and shareholders TotalEnergies East Africa Midstream has a 63% share, with UNOC, CNOOC and the Tanzania Petroleum Development Corporation (TPDC) having 15%, 8 % and 15% shares respectively. Across the Tilenga project and EACOP, 80,000 jobs have been created with 11,000 direct jobs, many of which are available to those in the local community. Therefore, the pipeline, buried 1,433km between Kabaale and the port, plays a valuable role in

supporting TotalEnergie’s Tilenga project with a transporting capacity of 216,000 bopd.

One of the key aspects of the Tilenga project is that it maintains TotalEnergies’ commitment to making its operations more sustainable. This is seen across the whole operation, from the solar panels which power the pumping stations to the biodiversity and community initiatives which are working to ensure that the land in which it operates is left in better condition than when it was founded by the company. One of the fields vital to the Tilenga project is Murchison Falls Park, which is a rural area home to local communities and rich ecosystems. Therefore, TotalEnergies has set out a set of pillars to protect and conserve large parts of Murchison Falls Park where it is operating.

To ensure the biodiversity of Murchison Falls Park, TotalEnergies have established a Biodiversity Program which is committed to creating positive change throughout its operations. Tilenga at present covers a rich and bio-diverse area of Uganda with fields in four of the country’s key ecosystems: the National Park, the Savanna, the Wetlands and the forests. TotalEnergies has set out on a mission to implement a range of measures to protect these areas. These measures include the

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TotalEnergies Uganda

development of the Biodiversity Ecosystem Service Action Plan which aims to increase the population of key indicators species by 25% within the Murchison Falls protected area, to enhance the integrity of habitats by managing invasive species, as well as working to restore degraded forests and wetlands.

This focus on protecting the environment is so key to TotalEnergies’ operation in Uganda as the company remains aware of the impact its operations can have on the environment, local communities, and the biodiversity of the land. Therefore, whilst the company is working to enhance the rich deposit potential of the region, it also remains committed to ensuring that every development is made with all of these factors in mind. This was seen with the development of EACOP where the route in which it was developed was rigorously reviewed taking environmental, biodiversity and social constraints into consideration. In May, TotalEnergies announced it was in the process of working with the government in Uganda and Tanzania to improve the management of protected areas across the regions whilst working closely in partnership with

local communities and conservationists to remain committed to the company’s focus on reducing its impacts as much as possible.

However, TotalEnergies aims to continue to scale up its conservation activities across the Murchison National Park, by continuing to invest in research and development projects which monitor the specific species within the park. This will be in partnership with the Uganda Wildlife Authority with a joint mission to improve the management of protected areas. A key part of this will be focusing on education, habitat monitoring, and corridor restoration – all of these will be in partnership with Ecotrust and the Communal Land Associations as the company launches the second phase of its corridor restoration program across the Murchison Falls Protected Area.

Aside from its key conservation efforts, TotalEnergies also announced just a month earlier in April that it had entrusted Lionel Zinsou, former president of the Republic of Benin, to assess the company’s acquisition program set to be carried out in Uganda and Tanzania as part of the Tilenga

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Maximising Uganda’s Oil and Gas Sector

and EACOP project developments. The projects are looking into further land acquisition, and it is Zinsou’s role to look over the land acquisition procedures, conditions for consultation, compensation and relocation of those displaced by the project’s development. The project currently has seen 6,400 hectares of land acquisition which have been carried out on behalf of the Ugandan and Tanzanian governments. This has led to the relocation of 19,140 households, 98% of which have signed compensation agreements.

Zinsou’s has long been an expert in the field and has long been known for his commitment to Africa’s economic development. Therefore, as founder and managing partner of SouthBridge, a consulting company dedicated to the African continent, Zinsou will work closely with TotalEnergies to continue to ensure the acquisition program is working to protect people, whilst developing the country’s energy development for joint economic benefits.

As we have seen, TotalEnergies is a globally integrated energy company which is promoting the development of the energy industry across the world

by implementing vital infrastructure and projects to produce energy for today and for the future. In Uganda, this role is crucial to enhance the rich deposits of the region to bring vital economic development and highlight the country’s role in international markets as a key energy facilitator. However, what remains crucial about every project and development under TotalEnergies is that it ensures the protection and promotion of the local communities and rich biodiversity of each specific region.

In Uganda, this is seen throughout its work with local communities and within the Murchison National Park to ensure that every project limits its harm to the environment and instead leaves behind positive development for the benefit of its local communities for the future. We look forward to seeing how TotalEnergies continues to expand its operations across Uganda and neighbouring countries to enhance the rich deposit potential of the region whilst protecting the local communities in which they operate.

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Vulcan International

With a diverse portfolio spanning across the globe, Vulcan International is a leading mining company which is utilising its commitment to growth and development for the benefit of Mozambique. Vulcan is a privately owned company which is part of the global Jindal Group, which is focused on building Africa’s mining industry via a rich and profitable portfolio of product assets across the continent. Vulcan achieves this by implementing cutting-edge technology and efficient logistical operations to ensure that every mine site delivers significant economic benefits for the surrounding region, whilst bolstering the role of African mines in international markets.

To best understand the valuable role of Vulcan, we must look at the Moatize Coal Mine in Mozambique which is one of the largest coal mines in all of Africa. Vulcan’s operations in Mozambique span 25,000 hectares of land encompassing the open-cut mine and coal processing plant which makes up the Moatize Mining Concession. The Moatize Coal Mine is located in the Tete Province of Mozambique. The mine was previously owned by mining giant Vale, however, in 2021 Vale sold the Moatize Coal Mine and the Nacala Logistics Corridor to Vulcan for the total proceeds of USD 270 million, comprised of USD 80 million at Closing and USD 190 million from the existing business until Closing. The sale to Jindal Group came following Jindal’s experience within Mozambique with its existing Chirodzi Mine operation also located in the Tete Basin. Therefore, with this expertise behind them, Vulcan took on the Moatize Coal mine which then became one of the main coal assets for the company with an estimated reserve of 1.9 billion tons of coal.

The Moatize Mine produces two central types of coal: metallurgical and thermal. Metallurgical coal is vital to the steel-making industry, which for Vulcan has long played a central role across its operations. Therefore, with the asset of a key metallurgical coal producer under its ownership, Vulcan can continue to build its portfolio across the steel-making industry and place Mozambique in great competition with other metallurgical mines across the world. Thermal coal, as the name suggests, is used primarily for generating heat and power through thermoelectrical plants. Burning coal has long been a central process for many industries worldwide, therefore the coal produced at the Moatize mine further develops Mozambique’s reputation within the thermal coal market.

To ensure that these vital coal resources are available for both local and international markets, Vulcan also operates the Coal Processing Plant within the Moatize Mining Concession. The processing plant has the capacity for 22 million tons of raw coal a year, which is then split into two thermal and metallurgical types. The processing is facilitated through four modules, which are capable of feeding thousands of tons of coal every single hour, with a total feed capacity of 4,000 tons.

Alongside the processing plant, Vulcan utilises state-of-the-art technology which sees top-ofthe-range excavators, wheel loaders, as well as auxiliary equipment including crawler tractors, tore tractors, motor graders, drilling machines and tanker trucks utilised to serve the Moatize Mine. This machinery includes those from leading brands such as Caterpillar, Komatsu, Le Tourneau and Volvo. By utilising this leading machinery, Vulcan ensures that every mining operation remains efficient, costeffective and productive for continued production rate and subsequent economic benefits.

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Vulcan International

However, what separates Vulcan’s operation from traditional mine operators is that through the purchase from Vale, the company also now has the Nacala Logistics company. Nacala Logistics is a railway port company that manages the Nacala Corridor with logistical transportation services. The company specialises in connecting Mozambique with Zambia by providing efficient transportation services to the coal and general cargo industries. By utilising the vital infrastructural links of the Nacala Logistics company, Vulcan can move coal from its processing plant and onto end markets making it more competitive than other coal mines in the region for not only mining and processing but delivering its products to customers and industries too. Therefore, the entire operations of Vulcan at the Moatize Coal Mine work cohesively together to bring such vital resources to life through its mining operations, and then they are processed and moved along the country’s infrastructure onto end and customer markets.

However, it is impossible to talk about Vulcan’s coal operations at Moatize without highlighting its community efforts to show how the company works to ensure that its operations positively

impact those in the surrounding areas. Vulcan has established a network of partnerships across the region with local communities and stakeholders, to ensure that the mine’s positive economic impact is felt down the supply chain. For Vulcan, this is in the form of fostering generational income and social inclusions as a way of supporting families and communities, often through educational and training programs. These educational programs aim to support local development and ensure that the mine brings with it positive employment and entrepreneurship opportunities.

In terms of sustainability, the mining industry has long played a balancing act between delivering significant economic development to a region whilst also working to remain respectful and conscious of the environmental impact its operations are having. For Vulcan, this balance is essential and with every operation, it accesses the environmental, social and economic aspects before it begins any operation. In the Moatize Industrial Complex, Vulcan has implemented environmental management programs which are working to ensure that all regulations of environmental management are upheld to ensure things such as air quality, noise, vibrations, water

quality, and waste management are monitored. These measures ensure that all operations carried out are meeting strict regulations and are working to protect, preserve and make value from the mined resources Moatize produces as much as possible.

The Moatize Coal Mine is a valuable asset which is enhancing the coal mining industry of Mozambique and providing the country with a significant role within global metallurgical and thermal coal markets. For Vulcan, the mine signifies a key project which has allowed it to expand its mining business, and enhance the existing infrastructure of the region to bring economic growth on both a local and international scale. However, it is Vulcan’s operations towards education and community development which highlight the sustainable role it hopes to continue to play across all of its operations in order to bring socio-economic to the people and places its operations encounter.

Ghana Ports & Harbours Authority

The shipping industry plays a vital role in the Ghanaian economy, with 85% of the county’s trade currently passing through the Port of Tema and Port of Takoradi. Therefore, Ghana’s ports play a vital role in maintaining a steady economy, and thanks to the smooth movement of operations throughout the country’s ports and harbours, it is now a leading trade and logistics hub across West Africa. These smooth operations are made possible by the Ghana Ports & Harbours Authority (GPHA), which was established to oversee the vital port services along the country’s coast and waterways. GPHA’s goal is to provide efficient port facilities which continue to establish Ghana as a vital shipping hub across the entire continent.

GPHA was established as a statutory corporation under Ghana’s Provisional National Defence Council Law of 1996, to develop, manage and promote maritime operations across all ports in Ghana. However, the port’s origins extend back to the 16th to 18th century, when there were roughly 40 locations across the Gold Coast of Ghana used as landing points. However, by the 1900’s these had been consolidated to just 6 main points, which by the end of the 1940s had been joined by an integrated network of road and rail links which would support the port’s operations going forward. With the introduction of these transport networks, the Takoradi Port was developed as a new hub for regional and international shipping. Then, following the independence of Ghana in 1957, even more, road infrastructure was implemented, and Ghana’s second port ‘Tema’ was constructed.

In the following years, the port and harbours industry of Ghana saw a vast overhaul with the construction of these two ports, the introduction of a shipyard complex, the construction of accommodation for port workers, the dredging of turning basins and berths, and the development of quays and buildings dedicated for the container terminals. Today, GPHA oversees all these operations with a central focus on developing the infrastructure at Ghana’s ports to ensure that trade can continue to bring vital economic development to the region.

GPHA’s daily activities encompass a variety of operations from clearance procedures, and cargo delivery systems, to reducing risks and increasing safety, as well as focusing on reducing the environmental impact of all port and harbour operations. To achieve this GPHA has maintained a strong network which brings ship owners and their agents, freight forwarders, cargo handlers, importers, exporters, haulage companies, ship chandlers, terminal operators, warehouse companies and dock operators together, to produce a cohesive network for which customers’ cargo can travel through efficiently.

Whilst GPHA’s management covers a vast array of ports and harbours spanning the coast and waterways of Ghana, the two prominent ports of the country include the Port of Tema and the Port of Takoradi. The Port of Tema is the largest in the country and covers over 5.5 million square meters (sq m) of land area, just 30 kilometres (km) from the capital of Ghana. Typical calls at the port include those from container vessels, general cargo vessels, tankers, Roll-on/Roll-off vessels, and cruise vessels. The port sees over 1500 vessel calls

BAJ Freight and Logistics Limited (BAJ), a fully indigenous Ghanaian company has been in operation since 2009, and has grown rapidly over the years to become a leader in providing customs brokerage, freight forwarding, ship agency, and endto-end logistics solutions (including local and cross-border haulage, transportation of dangerous goods [explosives, radioactive sources, and cyanide], heavy lift, rental of light duty vehicles, and yard & warehouse rental) to clients in various sectors including Oil and Gas, Mining, Power, and Manufacturing.

We are firmly committed to providing top-notch services by employing safe and industry best practices with robust technology to ensure that we meet the specific needs of clients, and strive to exceed their expectations. Our integrated management system is certified to the following international standards – ISO 9001:2015 (Quality); ISO 14001:2015 (Environment); and ISO 45001:2015 (Occupational Health & Safety).

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Ghana Ports & Harbours Authority

a year, which are met with the reliable services of GPHA and then passed on through its network of warehouses, transport and haulage companies, freight forwarders, factories, or various related centres. Therefore, GPHA’s operations are the frontfacing services which every customer using the port will see first, and so its focus on excellence, efficiency and development is what continues to ensure that customers continue to move cargo through Ghana’s ports and throughout the shipping industry across the West African region.

The Tema Port is also home to GPHA’s Golden Jubilee Terminal (GJT) which is an inland clearance depot strategically located on the western end of the Port of Tema. The facility includes a container freight station, state warehouse, car park, an open stuffing/unstuffing area, banking services, customs, security, and container storage/delivery services. This terminal allows vessels travelling into Ghana’s ports to pass through customs clearances efficiently and then on to either storage or delivery methods. The Port of Tema is also home to the GPHA Transit Terminal, which extends the

Authority’s services beyond Ghana and into Burkina Faso, Mali, and Niger. The terminal provides a onestop procedure for clearance so cargo can pass through ports and towards end markets much more quickly. The terminal supports the port’s Reefer Terminal, which has over 1550 reefer plugging points and caters for the inflow and outflow of cargo which needs temperature regulation such as fresh produce and frozen foods.

The Port of Takoradi’s operations span the oil and gas side of Ghana’s cargo industry and is set on a vision to be a leading port serving West Africa’s lucrative energy industry. Much like the Port of Tema, GHPA works across the Port of Takoradi to provide efficient services to customers by delivering efficient pilotage, towage, mooring/ unmooring, berthing, stevedoring, fresh water supply, storage, and warehousing services – to name only a few. Therefore, the port continues to play an increasingly important role in the oil and gas sector as it takes vital energy products entering or leaving the region and aids in their movement to both local and international markets.

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However, the mining industry of Ghana is also a lucrative economy, and so the port also moves manganese, bauxite, clinker, quicklime, containerized cargo, and equipment. All of these operations have allowed GPHA to maintain a strong relationship with the mining industry in Ghana which already brings such vital economic benefits to the country. Therefore, as a vital player in the movement of this type of cargo for the mining industry, the Authority hopes to see equal economic benefits for the maritime industry as it works to take the cargo from these mines and towards international markets via the ports and harbours of the country.

In January, the most decent development for GPHA’s operations was announced with the commission of two new Damen tugboats. The tugboats are designed to berth any post-Panamax vessel in the hope of fortifying the efficiency of the ports across Ghana. The tug boats will allow GPHA to bring greater efficiency and safety to its maritime activities, whilst speeding up operations with more accessible tug boating services to maintain a steady stream of operations for the prosperity and progress of the nation.

GPHA has spent the last two decades developing the ports of Ghana, with the implementation of new terminals, and upgraded IT systems, whilst expanding existing port infrastructure. These

operations have allowed Ghanaian ports to widen their operational network, which continues to bring increasing numbers of cargo through its ports every year. Therefore, GPHA’s operations unite the maritime industry of Ghana and have helped it to develop key partnerships with the energy, mining, and tourism industries – all of which are collectively helping to boost Ghana’s position as a vital hub for international trade. We look forward to seeing how GPHA continues to develop the ports and harbours of Ghana over the coming years, as it continues to unite the country, reduce the cost and trade and position Ghana as the modern port of choice in West Africa.

On a mission to deliver responsible mining that creates value across its supply chains, Centamin Plc has been developing the mining landscape of Egypt and West Africa for many years. Egypt and Western Africa are home to rich gold deposits, many of which haven’t been fully explored in this century. Therefore through a system of responsible and sustainable mining practices, Centamin hopes to deliver significant economic potential for these regions and solidify its place as a vital gold producer across the globe.

Through disciplined investment into the growth and diversification of its gold deposits, Centamin now has a large portfolio of exploration assets spanning Egypt and West Africa. These assets are supported by the company’s strong financial position and expertise across the mining industry, to deliver gold resources which will economically develop their respective regions. Centamin’s role in creating value has been recognised internationally and now has premium listings on both the London Stock Exchange and the Toronto Stock Exchange.

To best understand Centamin’s role in Egypt’s gold mining industry we must look at the Sukari Gold Mine the principal asset under the company which has been operating in the country for over 10 years. The mine site spans a bulk tonnage open pit and underground operation which began operation in 2009. Sukari signifies the first large-scale modern gold mine in Egypt, which is also one of the largest gold mines across the globe. This vital asset for Centamin is forecast to produce close to 400,000 ounces per year across its 12year life of mine. This significant production rate should provide the country with almost 30 years of value. Therefore, the Sukari mine is a significant project for the country, and so Centamin works closely with the Egyptian government, local communities and local stakeholders to ensure that its economic impact can be seen across the country throughout its supply chains.

The Sukari mine builds on the company’s exploration success when the founder of Centamin discovered the Sukari deposit back in the 1990s. Today, the mine is served by roads, a solar off-grid power plant and a 25km waterpipe fed from the Red Sea into the mine. Across this vast project, the Sukari Mine employs almost 4,000 people, 95% of which are from Egypt. This focus on employment within the country is just one way that Centamin continues to ensure that the mine’s operations positively impact those in the local community. With every ounce that the mine produces, Centamin’s operations remain focused on producing profitable results, and in 2022 Sukari celebrated its delivery of its 5 millionth ounce of gold. However, despite its growing volume of gold, Centamin’s operations all turn towards producing value for all those involved rather than just volume. Through stringent regulations, disciplined capital control and improving operating efficiencies, Centamin continues to develop gold for the benefit of Egypt.

Another key project under Centamin is the Doropo Gold Project. The mine has a proven-probable reserves of 1.9 Moz across the 1847 km2 license holding. The project is located northeast of Côte d’Ivoire in West Africa and comprises 7 exploration permits. The license covers 13 gold deposits, however, 85% of the site’s gold deposits are concentrated within a 7km

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Mantrac

Centamin

radius. Extensive exploration began at Doropo in 2016, which saw the project have a mineral resource estimate of 5 Moz by 2021. Part of the pre-feasibility study work programme saw a maiden mineral reserve of 1.87 Moz declared in the probable reserves category. The project is currently being progressed through to a definitive feasibility study stage, which is scheduled for completion in mid-2024.

The ABC Project is located in the northwest of Côte d’Ivoire roughly 360km from the Doropo Gold Project. The ABC project has 2.16 Moz of inferred resources over an 1143km2 license holding. It is a greenfield exploration with 3 permits across the highly prospective landholding along the underexplored contact zone between the Archean and Birimian cratons. Exploration at present has delineated a north-to-south trending foldmineralised corridor, the Loloso Gold Corridor, which is over 30km in length within the Kona permit of the ABC Project. The early stages of explorations saw the resource base double between 2019 to 2020. Development at the Farako-Nafarana and Kona permits led to the delineation of 7 new anomalous areas to be followed up with close-spaced sampling to generate new targets from trenching and then drill testing which was set to begin last year.

The final key development of Centamin is the Eastern Desert Exploration (EDX) Project which

comprises 3000 km2 of greenfield exploration tenements within the Egyptian section of the Arabian Nubian Shield. The site hasn’t been explored using the current top exploration methods in the modern era, but it represents a significant land package of highly prospective but underexplored geological terrain. The Nugrus Block surrounds the Sukari Mining concession and is set to target potential satellite deposits and low capex mill feed to the Sukari processing plant. Additionally, the Um Rus Block located to the north of the Sukari and the Najd Block located to the northwest are looking to explore potential standalone operations.

Exploration work continues to be done across these sites in the form of artisanal mining,

satellite imagery interpreting and mineral mapping techniques which continue to suggest that the three blocks of the EDX project are highly prospective and will bring significant economic development to Egypt in the future. The maiden exploration of the EDX drilling program began just last year in the Nugrus block. This exploration highlights 8 priority targets from the systematic generative exploration work, with 2 key main prospects emerging which will be explored over the coming years.

Throughout Centamin’s operations, the focus on delivering substantial value for Egypt and West

Africa’s local communities remains paramount. Centamin achieves this through its strict commitment to responsible mining as it works throughout all of its projects to protect, innovate and provide economic development across the gold mining industry. Therefore, Centamin has been successful in its mission to create value across its operations, as it works to continue to expand its portfolio across Egypt and West Africa, whilst establishing its place as a leading gold producer across the globe.

City of Cape Town

As the oldest city in South Africa, Cape Town is the country’s legislative capital and is home to more than 4 million residents. With such a diverse population spanning the city, it is no surprise that its everyday functioning, success, and development play a vital role in keeping it as a rich and thriving hub for South Africa. Therefore, the government-run City of Cape Town is responsible for ensuring that the city’s services, infrastructure, and development are designed to meet the needs of today whilst building on the needs of the future.

The City of Cape Town’s central role is to work together with vital stakeholders, governmental officials and the local community to ensure that it is always working towards building Cape Town into a prosperous, inclusive and healthy city for all those who live and work in it. To achieve this, The City is entrusted to distribute public resources to help achieve these goals over a 5-year term, each one outlined with a central mission for what that term hopes to do for Cape Town.

The current June 2022 to June 2027 term is well underway, with the central vision being ‘A City of Hope for All’. This vision is utilised by The City to formulate a strategic plan underlined by policies, objectives, initiatives and programs which provide a roadmap for how the current term aims to make this vision a reality. This roadmap is called the Integrated Development Plan (IDP) which is required by law to outline the strategic framework for how it aims to develop Cape Town over the coming years. However, rather than simply being a legal document with a goal, The City utilises it as an almost step-by-step guide to how it is going to achieve every single step and, as a result, its overall vision.

The IDP is split into 2 vital parts, with the first being a strategic plan which comprises community needs and stakeholder inputs, as well as a full contextual analysis and evaluation of the existing state of Cape Town. By fully assessing the position of Cape Town and its existing infrastructure, resources and needs, the IDP can more effectively identify which areas are in need of vital development in order for the ‘City of Hope’ vision to be achieved. Once this had been established, The City began outlining the second stage of the IDP which is the implementation plan. The implementation plan takes the identified points or challenges facing the city and devises key strategic programmes, projects and initiatives which will take place over the 5-year term. Once these have been identified, the development projects are then divided between the relevant departments of The City to ensure that each one is focused and responsible for their role in developing the city.

The thorough process of the IDP development plan is what allows The City to be so successful in achieving a clear vision and providing an evidential

basis from which resources are dispersed. The ultimate goal of the IDP is to speed up the delivery of development in vital areas, whilst attracting investment into Cape Town, to establish it as a city that is constantly developing towards a more successful infrastructure where prosperity and community are at the forefront. In the current IDP, the central priorities are economic growth, safety and basic services, and then housing, public space environment and amenities. The development of Cape Town’s economic growth however is its central priority in the existing IDP period, with many of the projects and initiatives playing a role in developing the city towards greater economic prosperity in all aspects. Then, the focus on services ensures that citizens have access to essential things such as water, energy, and sanitation, whilst upholding a firm level of safety for all across the city. The final main goal of The City is to bring more development across public spaces, with environmental issues and transport infrastructure playing a vital role in ensuring a more hopeful future for Cape Town.

Purposeful

City of Cape Town

These central goals are supported by three vital foundational goals which help ensure the main projects and initiatives of these 5 years can be achieved. These foundations include building a resilient city that is more spatially integrated and inclusive, with the support of a capable and collaborative-focused government. To achieve the main goals set out in the IDP, The City has set out 16 objectives to make these a reality, all of which are broken down into programs and projects. The objectives cover the three main goals looking to increase jobs and investment, making access to basic services more reliable, improving infrastructure, working with the community to strengthen partnerships, refurbishing recreational facilities and making a more spatially integrated city. All of these objectives are then broken down into specific projects or initiatives which aim to achieve these objectives, and as a result, meet the overarching goal of the IDP.

Some key projects under the current IDP 20222027 are the desalination project, groundwater project, catchment management project and water

reuse project. These are working to make Cape Town more water resilient, and so reduce the need for severe water restriction which has been seen across the country during periods of drought. It aims to achieve this by utilising catchment and groundwater collection, as well as working with the vital infrastructure and water systems to clean and reuse water more efficiently. These projects have been enhanced in recent months with the establishment of 3 more Catchment Management Fora (CMF). The introduction of three new CMFs will promote the sustainability and resilience of water resources across the city and develop a more integrated water management system. The project brings together vital stakeholders across governmental, private and business sectors, as well as working directly within communities. By fostering a unified and cohesive approach to water resilience, The City aims to make water flow more freely across the city.

The significant impact of the CMF announcement was highlighted by Councillor Zahid Badroodien with

“The establishment of these mark a significant step forward in our strategic commitment to preserving and enhancing Cape Town’s water resources”. The Councillor’s comment highlights how vital water as a resource is for the country and the role it will continue to play in the security of water resources for its future.

In fact, in the last year, natural disasters have brought widespread devastation across South Africa with wildfires, droughts and even flooding causing threats to life and livelihoods. Therefore, alongside its development projects, The City has also been working to ensure that its preparedness for extreme weather is in place. Following significant rainfall earlier last month, The City issued more than 10,000 flood kits to vulnerable areas such as informal settlements which are often prone to flooding in the wetlands. The kits help families better protect themselves and their homes from flooding and highlight The City’s mission to help its citizens

better protect themselves from natural disasters throughout every aspect of its operations.

Ultimately, The City of Cape Town continues to be developed towards a future where there is no poverty or hunger, and where good health, education, and gender quality are promoted for a better living environment for all of its citizens. With the establishment of a new IDP every 5 years, The City remains focused on ensuring that the management of the city and its resources are always meeting the current and future needs of the people of Cape Town. As we have seen, the current push is towards economic growth, with vital works in place to develop infrastructure, the environment, and service management. We look forward to seeing how The City will continue to carry out more of its operations under the current IDP term as it works to continue to establish Cape Town as a thriving hub primed for continued investment.

AngloGold Ashanti Ghana

AngloGold Ashanti Plc (AngloGold Ashanti) is one of the largest mining companies in the world focused on delivering a range of diverse, high-quality portfolio operations, projects and exploration activities spanning 9 countries across the globe. Throughout its operations, AngloGold Ashanti has been set on a mission to utilise mining to empower people and communities and ensure that all of its operations are working towards the collective goal of bringing economic and social development to vital regions across the globe.

AngloGold Ashanti’s operations predominantly work to turn vital gold resources across the world into economically viable assets that bring stable economic benefits across the world. This goal to develop vital assets is something that began the company in 1998 when it was just called AngloGold Limited as a consolidation of AngloAmerican Plc. In 2004, AngloGold combined with the Ashanti Gold Fields Company Limited, under the new name AngloGold Ashanti Limited, where the company we know today took full shape. In 2023, the company experienced vital restructuring and formed AngloGold Ashanti Plc and changed domicile due to its new registration in the United Kingdom. Today, AngloGold Ashanti has established a rigid strategy to ensure that it can generate sustainable cash flow improvements across its gold assets and bring long-term benefits to the communities and stakeholders with which each mine site interacts. Currently, AngloGold Ashanti has vital gold projects in Tanzania, the Democratic Republic of Congo, Guinea, the United States, Brazil, Argentina and Colombia. However, one of the current key countries for development is Ghana, where AngloGold Ashanti has two key mining operations.

Africa has long been a vital continent for AngloGold Ashanti, with Ghana’s Iduapriem and Obuasi projects adding key gold reserves to the company’s portfolio. Obuasi is a underground mining operation located in the Ashanti region. The mine consists of a single access decline with interlevel development between 15 and 30 metres, as well as various shafts. The mining operations encompass the existing infrastructure including a 2.4Mtpa processing plant with flotation and bacterial oxidation, hoisting shafts with associated infrastructure, and power and water reticulation facilities.

Production at the Obuasi complex began in 1897, however, this was brought to an end in 2014, with only a very limited portion of the mine’s facilities functioning under limited operational conditions. One of these limited operations was the development of an underground mine decline, which following a feasibility study in 2017 indicated a strong technical and economic case for the mine and would suggest a possible 20-year life of mine operation for Obuasi. The feasibility study received strong approvals from the AngloGold Ashanti Board,

and so in 2019, the current project at Obuasi began with a projected three-phase approach.

The first phase of the current operations began in September 2020 with the conceptualisation and planning of the site. The second phase included the construction of the mine and its development which was completed in 2021 bringing a capacity of 4,000tpd of gold a day. The current and final phase of the project is working on establishing the infrastructure necessary to ramp up production of the Obuasi mine to an intended 5,000tpd capacity. This final phase is scheduled for completion by the end of 2024.

The second vital project for AngloGold Ashanti is the Iduapriem mine site located in the west of Ghana. Much like Obuasi, the project is 100% owned by AngloGold Ashanti and spans 137km2 inclusive of the Ajopa southwestern region of the country. The initial feasibility of the mine was completed in 1990, with the original owners (Golden Shamrock Limited) beginning construction in 1991 utilising a semiautogenous million circuit and carbon-in-pulp (CIP) plant. Official construction began the following year in 1992, when it also poured its first gold. By

Economic and Community Development

AngloGold Ashanti Ghana

2000, AngloGold had purchased the site and began upgrades which saw the mine’s operation output capacity increased to 4Mtpa following the merge of Ashanti with AngloGold in 2002. Today AngloGold Ashanti has continued to expand the plant and it now has a current 5.2 Mtpa capacity.

As the Iduapriem Mine operation looks towards the future, AngloGold Ashanti has begun a joint venture with Gold Fields which aims to merge the existing Tarwa mine in Ghana. This merge would create one of the largest gold mines in Africa, and highlight even further the vital role that Ghana has continued to play in gold production and marketing worldwide. In fact, developing the Iduapriem Mine towards the future has been a central mission for AngloGold Ashanti’s current daily operations as it has set out plans to open a trial farm on part of the Old Tailing Storage Facility (OTSF), a rehabilitated area of the mine, which would look to enhance the ecological processing on the site and support growth in the local community through training and employment across the farming land.

The farming land on the previous OTSF site highlights AngloGold Ashanti’s commitment to ensuring that the community surrounding its

operations are provided with vital socio-economic benefits from the mine site. Therefore, the proposed rehabilitation of part of the Idupriem site would see vital employment across the local community as they oversee farming and crop production. This aims to provide both economic development to those in the local community and provide long-term skills and benefits to support the workers going forward. Furthermore, the work to rehabilitate the land will play a vital role in understanding how the mine can be utilised and redeveloped when it is one day closed.

AngloGold Ashanti recently announced that the company has partnered with Absa Bank Ghana Limited in conjunction with the MasterCard Foundation, to bolster local economic growth and empowerment of local businesses. The Memorandum of Understanding (MoU) outlines 4 main projects which are planned to support the sustainable expansion of small and medium businesses in Obuasi and provide the impetus for future economic development across the region. The project includes the Business Acceleration and Sustainability initiative which is aimed at providing SMEs with organisation systems and models to

increase operational capacity and secure financing. This will allow businesses across the region to bring more investment into Obuasi and access new and international markets. Across the various projects outlined by Absa Bank Ghana and AngloGold Ashanti, they aim to bring more entrepreneurial opportunities for local operations and enhance the role of local businesses in stimulating the Ghanaian economy for many years to come.

As we have seen across AngloGold Ashanti’s operations in Ghana it is working to enhance the existing mining potential of the region and strategically place them as vital producers for the company and for Ghana as a whole. However, throughout these projects and initiatives hoping to develop the mines of Ghana, it is also working to bring significant economic development for the country and their respective communities. Through vital work and partnerships, AngloGold Ashanti aims to continue to bring investment into the region and position the local communities of Ghana as a priority in the development of AngloGold Ashanti’s mining operations going forward.

Economic and Community Development

Africa Global Logistics

As a leading logistic operator across Africa, Africa Global Logistics (AGL) provides innovative and customised solutions to suit every one of its customers spanning the continent and beyond across the globe. Having recently joined the MSC Group, AGL has continued to expand its network and now is the major transport and logistics company at the heart of Africa’s shipping industry pushing towards the development of the continent’s logistics sector. With 250 maritime and logistic operations under its management, AGL thrives on providing tailor-made solutions which are strengthened by its competitively connected network bringing speed, efficiency and expertise across all transport and logistics operations.

Shipping and logistics are such a vital part of many businesses’ operations, whether that be transporting goods on a local or international scale. However, to achieve these operations, companies rely on logistical services to make the transportation and delivery of goods seamless. Across Africa, this is ever present as the demand for goods continues to increase, and so more logistical services are required to get these goods to their end markets. Consequently, AGL has been a major player in Africa’s logistics industry since 1986, having established a rich and skilled network across the continent and into international territories. However, at a time when global supply chains are facing increasing pressure as the demand for goods has stepped up, AGL became part of the MSC Group to strengthen its relationship across Africa and bring together the two company’s vast networks. MSC Group is a privately owned global shipping company that is a world leader in providing container shipping throughout its international network. Therefore, AGL brings its expertise across Africa and MSC its global network, the result is a company that is positioning Africa as a transformative hub for global logistical solutions.

AGL’s span covers 25 logistics and maritime agencies. 23 port and rail concessions, 66 dry ports and 2 river terminals, serviced by a workforce of over 23,000 strong and operations across 49 countries worldwide. Therefore, AGL’s reach across the globe is expansive and ensures that Africa remains well connected to the rest of the world as a hub for global cargo movement. However, to achieve its operations across such an expansive area, AGL relies on its 250 subsidiaries across Africa, Haiti and Timor which provide port, ocean, logistics and railway solutions to keep cargo moving seamlessly. These subsidiaries highlight the vital partnership and investment that AGL places across Africa to ensure import and export goods can reach even the most remote areas thanks to its expertise in cargo transhipment.

A key area for development for AGL in recent years has been in Namibia as it works to implement its port, shipping, logistics and rail networks to enhance the Namibian economy and positively contribute towards its role as a key logistics hub in Africa. For the last 14 years, AGL has been in operation

in Namibia offering innovative and complex logistic solutions to meet the needs of all sectors requiring logistic solutions for their operations. AGL’s role is to bolster the Namibian economy by ensuring that shipment in and out of the country is made seamless and is supported by its global network. This network utilises internationally recognised operations which are designed to make shipments more efficient to save time and money - in turn helping to support local and international businesses so they can grow within Africa and provide the country with even more economic development thanks to its logistics operations. Currently, logistic services in operation include clearing, forwarding, warehousing, vessel agency and husbandry, all of which have been playing a strategic role in the socio-economic development of Namibia as a whole.

Namibia’s vital location on the West African coast makes it a vital location for cargo coming into Africa, and then moving into neighbouring countries who do not have such a vital connection to the sea.

In Namibia, Port Walvis Bay is the most prominent port on the country’s coast which is responsible for handling container imports, exports, and transhipments. These include bulk and break-bulk commodities, and so AGL plays a vital role in working with key organisations within the country to help deliver this cargo to the port and take it beyond into neighbouring countries for the economic benefit of Namibia. A key organisation AGL works with in Namibia, is Namport (Namibian Port Authority), the state-owned entity responsible for overseeing the ports of Namibia and ensuring its trade meets the current and future demand of the country’s cargo and maritime sector.

Therefore, Port Walvis Bay is essential for AGL’s operations and so often works alongside Namport to facilitate state-of-the-art maritime, port and logistical solutions. All of these solutions are working towards ensuring that the port remains a vital shipment hub along the West African coast. The work to develop and maintain Namibia as a

Africa Global Logistics

hub for international trade is vital to its role under the Southern African Development Community, in which 16 countries/states come together to provide strategic expertise and organisations to strengthen the economic development, peace, security, and growth of the region to alleviate poverty and enhance the quality of life in Southern Africa.

In fact, in April this year, AGL signed a contract to manage Walvis Bay’s Multipurpose Bulk Terminal to offer local businesses and communities with opportunities to promote employment and deliver sustainable development of the country’s logistics industry. The contract was signed in the presence of Tony Stenning, regional director of South Africa for AGL and Andrew Kanime CEO of the Namport. The signing highlights the confidence of Namibia’s local authority in AGL to deliver top-of-the-range logistic and container solutions at the Multipurpose Bulk Terminal thanks to its stellar reputation across Africa.

Therefore, the signing of the contract for AGL at Port Walvis Bay highlights the company’s commitment

to delivering the best possible services throughout its warehousing and container terminal operations. However, a vital role of the Walvis Bay Multipurpose Bulk Terminal is for use by the energy, mining and industrial projects industry, as AGL will also be providing these industries with integrated services of the highest industry standards to ensure these vital sectors for Namibia are supported by a trusted and reliable shipping partner to ensure global trade remains flowing for the knock on benefits for the country.

Olivier de Noray, Director of Ports and Terminals at AGL highlighted the vital contract signing for AGL as, “We are honoured by the trust that the Namibia authorities have placed in us. Our vision is to make the Port of Walvis Bay a model of international connectivity, sustainable development and economic growth. Together, we will build a strategic hub for global trade, which will serve the prosperity of Namibia and Africa as a whole”. These comments highlight the reputation AGL has established for itself

as a vital logistics company that the authorities of Namibia can entrust with the vital job of developing the Multipurpose Bulk Terminal and bring significant economic development for the country spanning across all aspects of global trade.

Ultimately, AGL’s operations span the globe but in Africa its reputation for excellence across the shipping, transportation and logistics industry is incredibly evident. Each operation and solution is designed to deliver the best-in-class solutions for its customers, and in turn bring significant economic development for each respective region going forward. The contract awarded to AGL across Walvis Bay highlights the valuable role AGL continues to play in developing Africa as a global hub for trade, and as we look towards the next few years, we look forward to seeing how AGL continues to develop operations across the continent to bring continued

Rental Support Services

Rental Support Services, 100% Namibianowned and operated company, was founded in 2004 in Walvis Bay, Namibia. Initially established to provide shore-based logistics support to the offshore industry along Namibia’s coast, the company has significantly expanded over the years. Today, Rental Support Services caters to various industries, including Shipping, Ship Repairs, Construction, and the Oil and Gas sector in Namibia. Recently, RSS entered a joint venture with Swire Energy Services, the world’s largest supplier of DNV offshore containers, to deliver safe, cost-effective, and reliable services to the Namibian market.

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TotalEnergies E&P Angola

TotalEnergies is an international integrated energy company on a mission to develop its energy portfolio spanning from oil to biofuels, natural gas, green gases, renewables and even electricity. With more than 100,000 employees across its 120 countries of operation, TotalEnergies works to strategically develop vital energy resources to ensure that people across the world have access to reliable, affordable and more sustainable energy options. A key area for development in recent months has been in Angola, where TotalEnergies has a diversified portfolio of deep offshore operated assets which account for almost 50% of the country’s oil production. The global giant has set out on a range of partnerships with leading local and international energy brands to bring the offshore potential of Angola into economic benefits.

The Kwana Basin in Angola is home to rich and economically lucrative hydrocarbons which are vital for the production of petroleum. The basin is the first to have undergone vital exploration and development, and so has played a vital role in the continued expansion of the energy sector for Angola and the surrounding countries of west southern Africa. Across this area, TotalEnergies operates several deep and ultra-deep offshore oil licences in production, including Block 17 containing 4 major oil fields including the Girassol, Dalia, Paxflor and CLOV which combined have developed the block into a thriving hub for Angola under TotalEnergies. Other key development includes Block 32 with the Kaombo Development, and Blocks 0, 14 and 14K. All of these operations take place across the Lower Congo Basin and Kwanza Basin.

The Kaombo project in Block 32 is an innovative ultra-deepwater offshore project in Angola spanning the Gengibre, Gindungo, Caril, Canela, Mostarda, and Louro oil fields. The project, in which TotalEnergies has a 30% stake, is unique and complex as its operations take place in water depths of up to 1950 metres, and so is subject to extreme temperature and pressure conditions. This requires a specialised type of technology to achieve, however, the entire project aligns with TotalEnergies’ strategy of developing ultra-deep offshore projects. The project’s reserves are estimated to produce 658 million barrels, with 230,000 barrels per day capacity. However, to access all of the oil deposits across the 6 fields under the project it required TotalEnergies to install 59 wells. These wells make it one of the largest subsea well systems in Angola, and a great technical achievement for TotalEnergies.

To manage the capacity and control the cost of the operations, TotalEnergies built two new floating production storage and offloading (FPSO) vessels; Kaombo Norte and Kaombo Sul. Production began from Kaombo Norte in 2018 across the Gengibre, Gindungo and Caril fields, with Kaombo Sul producing oil just eight months later from the remaining Canela, Mostarda and Louro fields. Each vessel can produce 115,000 barrels per day and continues to develop the oil industry for Angola every day. A recent development for TotalEnergies in Angola is the Kaminho Project which is the first

TotalEnergies E&P Angola

Operatec

Operatec is a multidisciplinary Angolan company that provides manpower and subsea services for offshore oil and gas activities. The company has expertise in drilling management; engineering; HSE and dispatch personnel services; oilfield inspection, repair and maintenance; commercial diving services; underwater vessel services; and material supplies.

Our strategy is to continually develop our employees and invest in innovation. We have continued investing in our training centres. We are planning to inaugurate our new facilities at Futila village in Cabinda to accommodate our training centre with innovative equipment. The centre will have eight classrooms, accommodation for 20 students, a restaurant, and offices. In addition to that, our Cabinda Training Centre is going to have all the necessary equipment for welding training. All of that requires investment in assets, people, and technology, which we are very committed to.

As part of our expansion strategy, we have also started our investment in Namibia (at Walvis Bay),

where we are planning to open a new training centre, which will be inaugurated before the end of 2024. We are starting with a training centre, but the goal is to expand into what we do here in Angola, replicating it in Namibia. Additionally, we are looking into extending our presence in Mozambique and replicate our maritime and industrial training initiatives there and service that new and promising energy industry.

We have been providing services for Chevron, our main client since the foundation of the company. These services include diving services, repair, maintenance, and installation. In 2023, we finished one flexible pipe installation project that was 10 kilometres long. We also obtained new contracts for saturation work. We brought a new saturation diving vessel that is already in action. All this work is cementing our ambitions to become a subsea EPC company soon. We are investing in that, in people, assets and technology.

www.operatecangola.com

large deepwater development to take place in the Kwanza Basin. The project will take place in Block 20/11 to develop the Cameia and Golfinho fields which are located just 100km off the coast of Angola at a depth of 1700 metres. The project just saw a Final Investment Decision announced between TotalEnergies (40%), Petronas (40%) and Sonangol (20%). The project would see a very large crude carrier (VLCC) converted to a FPSO to be connected to the two oil fields. However, the FPSO has been designed to be sustainable, with its role to process large capacities of oil underpinned by a system which would minimise greenhouse gas emissions and eliminate routine flaring throughout the operations. The project is expected to start production in 2028 and deliver a plateau of 70,000 barrels of oil per day from the oil fields onboard the FPSO.

However, the development of the Kaminho project will do so much more than just deliver significant oil potential for the region, instead, it will bring with it significant employment with over 10 million man-hours of construction and development needed to get the project running. This will provide significant employment and business opportunities to local people and yards across the country and

add economic benefits to those in Angola in the process.

Chairman and CEO of TotalEnergies, Patrick Pouyanné, highlighted in the press release that “Building on our pioneering spirit and our longterm partnership with Angola, we are pleased to launch the Kaminho project along with our strategic partners, Sonangol and Petronas, and with the strong support and confidence of the Angolan authorities. This project, which leverages innovation to fit our investment criteria - breakeven under 30 $/b and carbon intensity of 16kg CO2 –will become our seventh FPSO in the country and the first to ever develop in the Kwanza Basin”.

Pouyanné’s comments here highlight the vast and expansive role the project will play in Angola, and the first of its kind to develop in this rich deposit basin. Its strategic partnerships with these other giant energy companies signify a joint commitment to developing the energy industry towards a future of accessible and reliable energy access.

However, Pouyanné continues “We look forward to joining forces with Sonangol in technology to promote innovation and low-carbon technology for the energy industry in Angola, in particular to slash methane emission and contribute to the diversification of Angola’s energy mix”. Here Pouyanné highlights the push towards sustainability that underpins all operations facilitated by TotalEnergies. Throughout every operation, the company is focused on delivering energy facilities in the most sustainable way possible, and here in Angola, this is the same with the strategic signing of a Memorandum of Understanding with Sonangol EP. Sonangol will share its expertise in research

Strategic Development in Angola

and technology in order to deliver the FPSO for the project that focuses on decarbonizing the oil and gas industry. In particular, the pair will focus on reducing methane emissions and developing renewable energies to continue to develop the Kaminho project and Angola’s energy industry towards a sustainable future.

TotalEnergies EP Angola has spent the last 70 years developing Angola’s energy industry towards a sustainable and economically viable future thanks to its work to develop the upstream oil and gas industry. With multiple key offshore licenses across the coast of Angola, TotalEnergies has formed itself as a leading offshore operator in the country and along the African coastline. As it continues to work towards a future where sustainability and energy security can go hand in hand, TotalEnergies continues to expand Angola’s oil and gas industry with the help of strategic partners and its teams of employees across the country.

TotalEnergies EP Republic of Congo

Through vital exploration and development projects, TotalEnergies has spent the last 55 years as the leading retailer and the number one oil operator in the Republic of Congo. As a subsidiary of the global multi-energy company, TotalEnergies E&P Congo is committed to developing, exploring and producing oil across the coastline to deliver value for the people of the Republic of Congo every day.

TotalEnergies has been in operation in the Republic of Congo since 1968 after it pioneered the first discovery of oil in the country. Since this first discovery, TotalEnergies has been on a mission to deliver sustainable development that would secure the role of the Republic of Congo in the global energy market and bring significant economic benefits to the people and the country in the process. In the Republic of Congo, TotalEnergies operates multiple oilfields and developments including Moho Nord, Moho-Bilondo, Nkossa, Nsoko II, Yanga and Sendji for which the company holds interests, as well as the operations of the Djéno Oil Terminal.

The first ultra-deepwater offshore field in the Republic of Congo was the Moho-Bilondo oil field which was first commissioned in 2008. The project operates at depths between 600m and 900m, for which TotalEnergies holds a 53.5% interest and is the operator of. The remaining interest is held by Chevron and the Congolese national oil company SNPC, who has 31.5% and 15% respectively. The oil field spans 4 reservoirs, with the first discovery dating back to 1995. The first reservoir discovered was Bilondo, with Mobim discovered in 2004, and the Moho Nord Marine-1 and 2, and Moho Nord Marine-3 discovered in the late 2000s.

A current key development project in the Republic of Congo is Moho Nord, an offshore oil project located 75km off the coast. The project covers 2 developments which are the Moho Phase 1bis and Moho Nord fields. Moho Nord encompasses a subsea development which came onstream in 2017 and targeted oil deposits at varying water depths. It covers 34 wells, all of which are tried back to the all-electric Floating Production Unit (FPU) Likouf and a Tension Leg Platform (TLP). Then, Moho Phase 1bis is the other key development under Moho Nord which utilises the Alima FPU which connects 9 subsea wells, and when it was completed added an additional 40,000 barrels of oil a day to the total Moho Nord production. The entire project illustrates TotalEnergies’ expertise in carrying out complex deepwater exploration projects, as the development marks the largest oil project in the country. The maximum production capacity across the two developments totals 140,000 barrels per day and is expected to maintain this output until roughly 2045.

TotalEnergies has currently set out on a strategic project to transform the Moho developments in the Republic of Congo, which would see four new wells drilled and fed into the existing Likouf and Alima

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TotalEnergies EP Republic of Congo

networks. The project will add a valve module to connect to the Alima M11 manifold, and then includes a reconfiguration of the existing control system to seamlessly integrate the new wells into the existing system. This aims to optimise the performance of Alima and will avoid the additional purchases of 4km umbilical to connect them. Once completed, the project is expected to boost production and ensure the sustainability of TotalEnergies’ operation in the country. The infill project aims to add 17,000 barrels per day to the existing production capacity, and so will cement the project’s role as a key growth catalyst for the Republic of Congo.

The project announced just last year that it would award a contract to Aker Solutions, who are experts in subsea equipment, to deliver standard and configurable Subsea Production Systems for the three additional infills of the project. This partnership signifies a vital step in TotalEnergies’ role in the Republic of Congo, as it will see significant investment into the country’s deepwater projects.

TotalEnergies has continued to expand its role across the Republic of Congo, and in April announced it was increasing its interest in the Moho oil field. The announcement made in April outlines that TotalEnergies EP Congo has signed an agreement with Trident Energy which would see TotalEnergies acquire an additional 10% of the Moho license from Trident Energy, and would then also sell 53.5% of its interest in the Nkossa and Nsoko II licenses to Trident Energy. Once completed, TotalEnergies would then hold 63.5% operated interest in the

Moho licence, alongside Trident Energy, (21.5%) and the Société Nationale des Pétroles du Congo (SNPC, 15%). In return, Trident Energy would then hold an 85% operated interest Nkossa and Nsoko II which are two mature offshore oil fields.

Mike Sangster, Senior Vice President Africa, Exploration and Production at TotalEnergies outlined in the press release that, “With these transactions, TotalEnergies continues to dynamically manage its portfolio. In line with our strategy, we focus on low cost, low emission assets, and leverage our deep offshore expertise”. He continues, “As a long-term partner of the Republic of Congo, TotalEnergies remains fully committed to the country through our increased stake and operatorship in the Moho field and, is preparing for the drilling of an exploration well on the Marine XX license before summer 2024.”

Sangster’s comments here highlight the vital role TotalEnergies continues to play across the Republic

Sustainable Energy Development

of Congo as it works to maintain, develop, and assess the country’s role as a leading oil producer in Africa. The agreement signifies the ever-expanding portfolio that TotalEnergies operates in the country, as it continues to bring significant economic impact through its offshore oil development partnerships.

Ultimately, TotalEnergies has continued to develop and expand the energy industry of the Republic of Congo through strategic development which makes the most of the rich oil potential of the region, in order to bring significant economic prosperity to the country. By doing so, TotalEnergies has positioned The Republic of Congo as a leading oil producer in Africa supported by its plethora of experience across the global energy sector. We look forward to seeing how TotalEnergies continues to implement its development projects and enhance the oil potential of the Republic of Congo for many years to come.

Sibanye Stillwater

As a multinational mining and metals processing group, Sibanye-Stillwater is home to a diverse portfolio spanning operations, projects and investments across the globe. Under its portfolio is a range of key metals including platinum, palladium, rhodium, and gold amongst many others. However, in recent years the company has made a necessary strive towards metals such as lithium which are spearheading the global shift towards electric vehicles in the form of lithium-ion batteries. These varied but crucial metal operations highlight Sibanye-Stillwater’s vast role in the metal market as it looks to shift gears to meet the growing demand for such vital metals to support the world’s future.

The key purpose behind Sibanye-Stillwater’s operations is to safeguard the global sustainability of metals by ensuring that a positive social and environmental impact is maintained throughout every aspect of its operations from mining, processing and marketing. Sibanye-Stillwater achieves this by ensuring that it takes vital responsibility for the resources, operations and local communities surrounding each project to ensure significant positive impacts for communities on a local scale, whilst also contributing towards a more economically developed future. To ensure that every operation remains committed towards these goals, SibanyeStillwater has set out a strategy to form the foundation of operations. This foundation brings together the company’s purpose, vision and values to ensure that in every decision and operation, its core mission is always present.

To fully understand the role of Sibanye-Stillwater we must look at their role within the global gold industry. Gold was the first metal ever mined by

Sibanye Stillwater in South Africa, and now the company has two key gold mining projects in the country. The most advanced gold project for the company is Burnstone, located in the Mpumalanga province. The project encompasses a shallow developmental stage gold mine in the South Rand Goldfield of the Witwatersrand Basin as is part of the Southern Free State (SOFS) project across the Free State Province of South Africa. The SOFS assets were acquired in 2014, and in 2017 saw the mining consolidation of 4 areas of the development approved for 23 years. Collectively, these projects are key producers for Sibanye-Still water and have played a vital role in positioning them as a top-tier gold producer across global markets.

The other key project under Sibanye-Stillwater in South Africa is the Beatrix mine complex. The complex was one of the original assets acquired when Gold Fields International completed its unbinding transaction in 2013, however, gold has been produced at the mine since 1983. The Beatrix mine adds to the existing output of gold across the Witwatersrand Basin alongside Driefontein, Kloof, and Burnstone. As of December 2023, the Beatrix project has a total surface and underground gold Mineral Reserve of 0.7Moz, and

Investing in the Future of Metals

in the manufacture of water cooled copper components for the pyrometallurgical industry across the globe

Some of the products and services offered include:

~ Pipe manipulation & coil manufacturing

~ Casting of the full range of CU cooling elements, both with coil circuits and deep hole drilled water passages

~ CNC line, deep hole boring and vertical milling

~ Complete across the spectrum of NDT testing and inspection (X-Ray, UT and thermal imaging testing)

~ Welding capabilities, including CU welding, fabrication welding and hard facing overlay welding

~ Graphite Freezeline Solutions –supply of machines graphite products

~ Graphite tiles, skimmer, tap & mickey blocks

~ NMA, NMD brick, C34 cement, graphite grouting and carbon ramming materials

~ Re-machining of graphite electrodes

Sibanye Stillwater

a Mineral Resource of 7.6Moz. However, Beatrix is not just known for its gold reserves, the mine is also home to 27Mlb of uranium resources which are contained within the Baisa Reef. With such value gold deposits across South Africa, Sibanye-Stillwater’s operation across the country contributes significantly towards the local economy by bringing the gold to market and providing employment opportunities throughout its projects.

Alongside Gold, Sibanye-Stillwater is also a leading player in the PGM market. PGMs are the combination of platinum, palladium, rhodium, iridium, ruthenium, and osmium which, to varying proportions, tend to occur together in the same geological deposit. It is this combination of metals due to their chemical and physical properties that make the PGMs so valuable in their end markets.

Sibanye Stillwater has two PGM operations in America with Stillwater and East Boulder located in Montana. Both operations extract and process PGM ore from the J-M Reef, which is the only known significant source of PGMs in the US and the highestgrade PGM deposit in the world. These PGM metals are crucial to the profitable automobile market. Sibanye Stillwater owns the Columbus Metallurgical Complex also in Montana, which smelts the material mined from their operations to produce PGM-rich

filter cake and recycles auto catalysts to recover PGMs. Consequently, their operations in America to mine PGMs are increasingly profitable for the large automobile market in the production of auto-catalysts.

A key part of Sibanye-Stillwater’s strive towards the future of metal sustainability is through technology. The company utilises top-of-the-range and innovative technology to make its projects and operations have a positive lasting effect. The digital evolution of Sibanye-Still water is a key enabler of its 3-dimension strategy which positions innovation at its core to deliver its foundational promises. It is for this reason that Sibanye-Stillwater is considered a digital-first organisation, and it ensures the best practices in digital technology adoption are implemented to help it remain competitive in both the mining and exploration of metal resources world.

This focus on technology underpins SibanyeStillwater’s development into the world of lithium. Sibanye-Stillwater has accessed the battery metals sector through a partnership and investment into Keliber, a leading European lithium project located in Finland. It’s a strategic step by Sibanye Stillwater towards a greener future to mine metals that benefit the sustainable manufacturing market. This strategy was furthered in 2022 by acquiring a 100% stake in Sandouville, a nickel hydrometallurgical processing facility in France, to build a leading battery metals platform in Europe. The Keliber Lithium project is

Investing in the Future of Metals

the most advanced lithium project in Europe – and is dedicated to supplying the EV battery sector This project has become so vital for SibanyeStillwater that just a few weeks across it secured a €500 million Green Financing package. The Green loan secures the final capital expenditure funding required for the construction and development of its lithium mining, processing, and refining facilities for the Keliber Lithium project in Finland. The proceeds from the Green loan will be used to complete the development of the Keliber Lithium project, with a total capital expenditure of roughly €656 million (2023) terms.

Neal Froneman, CEO of Sibanye-Stillwater highlighted in the announcement of the loan that “We are delighted with the strong support from a diverse group of financiers, including the European Investment Bank and Finnvera. This funding package provides cost-effective, long-term funding for the balance of the Keliber project’s funding needs and significantly improves the group liquidity, effectively ring-fending the existing group facilities for

operational requirements confirming the viability and ESG credentials of the Keliber lithium project, as well as underscoring its strategic important to the European clean energy transition.” Froneman’s comments highlight the growing role SibanyeStillwater plays in the development and accessibility of lithium metal products across the world. Its role therefore plays a vital role in developing the world towards a more sustainable future where lithium can be utilised across the renewable battery industry. Across Sibanye-Stillwater the sustainable development of metals in order to meet the needs of the future, whilst protecting the communities and economy of today is vital to its operations. With key developments across a range of metals including gold, PGMs and lithium, Sibanye-Stillwater has established itself as a key multinational mining and metal processing group with key investments across the world. From its home in South Africa, the company has continued to expand its portfolio to bring metals which will power the future into production today.

Kenya National Shipping Line Ltd.

The shipping industry of Kenya has seen a sharp increase in recent years with global companies utilising it as a key hub for cargo movement between Africa and other international markets. The country is home to one of the busiest ports along the East African coastline, the Port of Mombasa, which is vital for bringing cargo in and out of Kenya, and to neighbouring countries. To ensure this movement of cargo runs smoothly across international waters and within Kenya, the Kenya National Shipping Line Ltd. (KNSL) offers a vital and comprehensive shipping service which aims to bring national economic development through the facilitation of cargo on a global scale.

For over 35 years, KNSL has been a leading and reliable shipping and logistics company that services the maritime and cargo industries moving both within the African continent and across international markets. The company began in 1987 under the Companies Act, to be Kenya’s national carrier, formed through a joint venture between the Kenyan Government (via the Kenya Ports Authority) and strategic partnerships with Unimar and DEG in Germany. This joint venture set out on a mission to provide a competitive shipping and logistics service that would bolster the national economy and contribute towards its role across global shipping markets.

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FOCUS CFS is a premier Container Freight Station offering toptier logistics services for cargo through the Port of Mombasa, serving East Africa. As a market leader, we specialize in handling containers, loose cargo, motor vehicles, reefer containers, export cargo, warehousing, and project cargo.

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Today KNSL continues this mission, and in 2022, following some restructuring of its shareholders, outlined a set of strategic objectives which would enhance the shipping, clearing, forwarding, warehousing, and consolidation of cargo, as well as provide essential recruitment and placement services to seafarers. These objectives include the growth of cargo volume handled by the company to meet the increasing demand for products in Kenya and across Africa, whilst also bringing vital economic development to the region because of this. In addition, KNSL is working to enhance the efficiency of its logistics values chains, ship management and terminal operations through vital investments, as well as in partnership with local suppliers to bolster its operations across the coast. These objectives hope that with good governance and continual institutional growth, it will enhance its logistics delivery service and be the shipping line of choice for its customers. Additionally, through its crewing and manning services, its final objective is to promote and facilitate the placement of Kenya within the global maritime labour markets.

KNSL’s objectives here highlight the allencompassing role KNSL plays in supporting the shipping industry of Kenya so it can continue to function smoothly. The shipping line works closely with Kenya Ports Authority, as well as with vital logistical services across the country to ensure that the shipping line brings the vital cargo to the shores and then works with those on the ground to make the movement of this cargo to end markets seamless. Therefore, KNSL is primarily known for providing world-class shipping services catered towards the containerized and conventional cargo sector.

To move this cargo, KNSL operates an ocean freight service which works directly with its

Kenya Ports Authority:

Improved efficiency boosts performance at the Port of Mombasa

The Port of Mombasa has defied global economic challenges, compounded with heavy rains in 2023 to achieve its targets and solidify its position as the Port of choice.

One of our notable achievements was the successful commencement of night pilotage of oil tankers courtesy of the operationalization of the new Kipevu Oil Terminal (KOT). We are optimistic that the 24/7 service for oil tankers is progressively reducing ship turnaround time and attendant costs.

Additionally the Port of Lamu is steadily gaining business muscles and global recognition owing to our continued marketing efforts. Recently, the Port received its first hinterland bound cargo from World Food Programme (WFP) followed by a cruise ship and a naval ship calls. All along, the Port has been handling transshipment consignments.

We have also made strides in capacity expansion initiatives that include expansion of container handling berths, increased automation of services, acquired modern ship and cargo handling equipment and improved partnerships with key government agencies and stakeholders to enhance synergy. Acquisition of the new equipment is expected to double berth productivity and reduce ship working time.

Moreover, the procurement for the construction services of Dongo Kundu Berth 1 (DK 1) is almost complete with construction expected to commence soon. The facility is strategically important in catalyzing the development of the Dongo Kundu Special Economic Zone which upon completion, will not only boost the economy of the Country but, through enhanced trade, drive major business growth for Mombasa Port.

We are now back on a steady recovery path having witnessed remarkable improvement in port performance. This year, our total cargo throughput grew by 1.587 million tons or 5.1% recording 32,950,000 tons between January and

November 2023, compared with the same period in 2022. By the close of 2023, we expect to have handled 35 million tons.

Total container traffic recorded 1,470,754 TEUs in January – November 2023, which is an increase of 145,702 TEUs or 11% compared with the same period in 2022. We expect to reach 1.6 million TEUs by end of the year.

Transshipment traffic registered 177,144 TEUs in January – November 2023 which is a drop of 11% compared with the same period in 2022. However, we expect transshipment traffic to grow further due to the congestion currently being experienced in other regional ports. Transit traffic grew by 10.8% registering 10,425,000 tons in January – November 2023. The annual forecast for 2023 is expected to reach 11 million tons.

Recently we launched our five-year Strategic Plan 2023/24 – 2027/28 which provides a roadmap in furtherance of our mandate towards realizing our vision - world class ports of choice. This strategy is driven by four strategic directions: customer focus, operational excellence, business growth and good governance. We are optimistic that the initiatives that we pursue will not only positively impact on our customers’ experiences but will exceed their expectations.

According to the latest Africa Ports Productivity 2023, the Port of Mombasa is ranked second in Africa pointing to improved efficiency. This is also supported by the new shipping lines making maiden calls to the port to deliver transshipment cargo destined for other regional ports and a vote of confidence to the port.

As the Port continues to make strides in enhancing its operational capabilities, stakeholders within the maritime industry are optimistic about the prospect of sustained growth and heightened competitiveness for the Port of Mombasa

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customers to provide integrated logistics supply chains through its agency network spanning the globe. These services look to ensure that dry bulk, liquid bulk, project and specialised cargo reaches end markets, and is moved through bunkering husbandry and protective agency services across the logistics chain to achieve the best operational efficiency possible. The comprehensive role of KNSL is known for providing intermodal solutions for forwarding - specifically designed to provide a one-stop shop for inland shipping requirements which work with local stakeholders to move cargo across the road, rail and inland waterway networks of Kenya with the help of local and international shipping networks.

However, just a few years ago it was a different scene for KNSL as it did not have its own vessels and containers to be able to compete with some of the larger shipping lines operating across the African coast. Therefore, to revive KNSL, the Kenyan government unveiled plans that would help KNSL play an even larger role in developing the Kenyan economy and expand its role across the country’s shipping industry. A Memorandum of Understanding (MoU) was signed by the Kenyan government along

Competitive Global Shipping

with the Mediterranean Shipping Company (MSC) outlining a plan which would see KNSL allocated cargo slots at the Port of Mombasa, and an amendment to the Merchant Shipping Act 2019 to facilitate KNSL and MSC to jointly run the port’s second container terminal (CT2). This would give both companies greater priority in their shipping lines across the main port of Kenya and highlight the valuable role they both play in delivering vital cargo to Kenya. Phase one of the CT2 project increased the port’s annual capacity to 550,000 TEU, and the second phase completed in 2022 would bring the capacity to 1 million TEUs. The MoU hoped to see the company contribute a further $3 billion annually to the economy and create 6,000 new jobs. Therefore, the government’s vital investment in KNSL through the Port of Mombasa highlights the valuable role KNSL will continue to play as the national shipping company for Kenya.

Consequently, a key aspect of KNSL’s operations is in working with the Kenya Port Authority (KPA) across the country’s most vital ports. The Port of Mombasa has continued to defy global economic challenges, and following heavy rains in 2023, was still able to achieve its targets and solidify its position as the Port

Kenya National Shipping Line Ltd.

of Choice for Kenya under KPA’s management. The Mombasa port was ranked second in the 2023 Africa Ports Productivity report, highlighting its improved efficiency and the increasing number of new shipping lines making maiden voyages to the port each year. Therefore, as a leading shipping line in operation at the port and alongside KPA, KNSL ensures that the shipping and cargo industry of Kenya remains profitable and effective to meet the growing demand for goods and highlight Kenya as a key hub for shipping activity along the East African coastline.

What sets KNSL apart from its rivals is its role in the crew and manning of seafarers to vessels throughout its agency network. Through KNSL’s network, it can pair employer and employee in mutually beneficial partnerships that will continue to benefit Kenya’s shipping industry going forward. KNSL utilises recruitment matrixes which outline the travel arrangements, visas, supply of work gear and other services to ensure that the employee is well matched to the employer, and both parties continue to be supported by KNSL to build a reliable and integrated global network.

A key part of the crew and manning division of KNSL is its work with international cruise lines and vessel management companies, who utilise the company’s global network to access a thorough and well-updated database of potential crewing

candidates which are ready for employment and deployment. Therefore, KNSL’s reputation across global cargo, cruise and vessel management networks makes it the go-to destination to find skilled employees and employers to continue to develop shipping operations across the globe. This reputation for providing only the best employers and employees further supports Kenya’s reputation as a vital shipping port within global markets which is supported by the best in the business.

Ultimately, KNSL plays a vital role in maintaining the reliable movement of cargo from overseas and into Kenya and then beyond through the company’s vital shipping network. This network works in partnership with vital stakeholders spanning local and global supply chains to ensure that Kenya’s shipping and logistic industry maintains its worldclass reputation. With the development of its crew and manning division, KNSL goes one step further and is working to pair skilled workers across the country with essential roles within its global network to highlight the skilled workforce supporting shipping in Kenya. We look forward to seeing how KNSL continues to expand its role across the shipping and maritime industry, and as it continues to position itself as a world-class company offering integrated and reliable shipping solutions to Kenya and beyond.

The insurance market of Nigeria is a vast sector, which intersects with every person, business and government body to deliver vital insurance policies to keep people safe, protected and financially supported. The insurance industry continues to grow across Nigeria and is expected to reach a gross written premium market size of over US$8 billion in 2024. With such an expansive industry that is crucial to everyday operations, the National Insurance Commission of Nigeria (NAICOM) was established to help maintain a safe and stable insurance industry that continues to enhance the Nigerian economy and allow the country to compete in global markets.

NAICOM was established as part of the National Insurance Commission Act of 1997, with the sole responsibility for ensuring the administration, supervision, regulations and maintenance of the insurance industry in Nigeria. Its role spans from policyholders to beneficiaries, stakeholders, government bodies, and third-party insurance contracts, and it ensures that everyone who interacts with the insurance sector is met with the same level of top-quality insurance services. Today NAICOM’s mission remains much the same, aiming to regulate, supervise and develop the Nigerian insurance industry for the protection of its consumers and stakeholders. A key focus today is towards developing the industry towards a more innovative and collaborative future, on both a local and international scale. A key way that NAICOM is achieving this is by establishing firm standards for conducting insurance business across the country. Through this commitment to efficient service delivery, NAICOM has earned a trustworthy

reputation that gives customers confidence in its management of the insurance industry.

One of the most critical aspects of the industry is insurance rates, for which NAICOM is committed to overseeing through the approval and regulation of rates, and relationships between insurers and insurance companies both inside and outside of Nigeria. A key part of this role is approving the standards, conditions, and warranties applicable to all classes of insurance business for the protection of insurance policyholders, beneficiaries and third parties of insurance contracts. This focus on those supplying and being supplied with insurance products is key to ensuring that the insurance industry of Nigeria continues to benefit its people and the economy.

However, the government and governmental agencies also play a huge role in the development and supply of insurance across Nigeria. For this NAICOM works closely as an advisor to the Federal Government on all insurance-related matters.

Sustaining Nigeria’s Insurance

This includes liaising with federal ministries, extra-ministerial departments, statutory bodies, and other government agencies to ensure the adequate protection of strategic Government assets and all other properties. This expansive role shows how vital NAICOM is for the development of the insurance industry in Nigeria for consumers and government alike, and so with its dedication to promoting a safe and stable insurance industry, the Commission is developing towards the continued economic development of the country.

A key development for NAICOM is education across the insurance industry along with the Chartered Insurance Institute of Nigeria and the West African Institute. Together these work to enhance the image of the insurance sector and establish Nigeria as a key insurance provider within Western Africa. A key way this reputation is achieved is through NAICOM’s National Insurance Conference which brings together attendees from across the industry, including federal ministers, state governors, state commissioners, and various dignitaries of the industry.

The most recent conference was held in October 2023 with a focus on ‘Protecting the future of Nigeria’s insurance industry against unforeseen disasters’. The conference focused on the alarming rate of building collapses across the country and highlighted the need for the urgent implementation of comprehensive insurance across public buildings, as well as buildings currently under construction. The conference saw key speakers such as His Excellency, Mr Babajide Sanwo-Olu, the Executive Governor of Lagos State on the critical role of state governance in ensuring that the safety and security of buildings are supported to build Nigeria into a vibrant urban hub that can tackle the complexities of insurance and construction practices to protect its citizens and assets.

The conference highlights the network that NAICOM oversees to ensure that the insurance industry of Nigeria remains a key driver for development and support for all people across the country. This is vital as Nigerian Insurance Sector Statistics have revealed a sustained positive performance, which indicates that the

Sustaining Nigeria’s Insurance Industry

industry is continuing to adapt and grow despite macroeconomic challenges in the first quarter of 2024. Consequently, the statistics show that the market has expanded in terms of premium generation by about 471 billion naira in just the first few months of 2024. Therefore, NAICOM’s role looks set to continue to expand across the country as it brings insurance companies, consumers, and governmental figures together to support this vital sector of Nigeria’s economy.

Overall, NAICOM plays a vital and vast role in Nigeria’s insurance industry as it helps to develop the industry towards a strong economic future based on innovation and stability. As such a key player within the economy, the Commission works closely with the government to outline key legislations, whilst also helping to support governmental investments in the process. We look forward to seeing the role NAICOM continue to play across Nigeria as it establishes it as a vital hub for insurance in West Africa and across the world.

Strategically located on the coast of Mozambique, Porto De Maputo (Port of Maputo) is a vital gateway for global trade that has seen a growing demand for cargo and as a result, has brought significant economic benefits to the city. Today, the port is under the operation of the Maputo Port Development Company (MPDC), which is striving to meet these growing demands through investment into the region to make it an attractive, competitive, and efficient port service operating in the Indian Ocean.

The origins of the port date back many years and have long played a vital role in the development of Mozambique and its thriving cargo industry. The cargo industry was vital in helping the establishment of the city of Maputo, and today a vast number of industries make use of the port infrastructure to facilitate the movement of key cargo from the mining, industrial, manufacturing, petrochemical, and coal sectors. Cargo from these industries is then moved across the country, and beyond into international markets, through the port’s vital links with rail and road access. This transportation network is vital in securing the port’s role at the heart of the country’s transportation corridor.

With a growing industry behind it, the port has seen many port operators, and in 2003 this role was given to the MPDC. MPDC is a national private company, formed out of a vital partnership between the Mozambican Railway Company (Caminhos de Ferro de Moçambique) and Portus Indico. These are comprised of Grindrod, DP World and the local Mozambique Gestores. Following the granting of the port concession to MPDC in 2003, the company was given 15 years to develop and maintain the port for the benefit of the people and industries of Mozambique.

However, due to its key work in developing and investing in the port, the MPDC received two extensions awarded by the Government of Mozambique and now will have control of the port until 2058. Today, the Port is a thriving hub that has seen major developments over the last 10 years under MPDC and has continued to grow the port industry of Mozambique, whilst working closely with the municipality in the city to ensure that every operation from cargo to tourism brings significant economic benefits to the region.

The Port of Maputo encompasses two main port areas, which are accessed from a channel extending from the Indian Ocean and into Maputo Bay. The first of the major port areas is the Maputo Cargo Terminal, which includes three container terminals with a combined 129 hectares of space covering 3,000 continuous wharves. This terminal then joins with the Matola Bulk Terminal location slightly further along the channel. The Matola Bulk Terminal is a deep-water bulk terminal that works closely with the export and manufacturing industries

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Porto De Maputo

across the coastline, with a particular emphasis on the new Mozal Aluminium Terminal and Oil Terminal. Across the port complex, MPDC operates as port authority and oversees all maritime operations, whilst delivering vital pilotage, anchorage, and tug services to the vessels travelling into the Port of Maputo. In addition to the container and bulk terminals, the port also has a range of port services including dry dock and repairs, ship chandlers, bunkering, fresh water, telephone, electricity supply, waste removal, sludge removal, and various boat launch services.

Across all of these operations, MPDC is working to enhance the productivity of the port and continue to invest in the future of its operations in the maritime industry. In fact, MPDC has set out a master plan which outlines how the port authority aims to expand the port to meet the growing cargo needs of today, whilst setting it up with the infrastructure for the future. The port is projected to see 42 million tonnes passing through the port by 2033, and to then grow even further with an estimated 54 million tonnes of cargo moving through the port by 2043.

MPDC’s commitment to investment and development of the port played a key role in the extension of its operation of the port. This was outlined in February when MPDC signed for an additional 25 years to be added to the planned end date of its port management. The company’s bid to maintain its control of the port came with a commitment to make a major investment into the capacity of the port’s container terminals, increasing their size to deal with 1 million twenty equivalent units (TEU) per year. In addition to this, MPDC is committed to expanding the coal terminal to 18 million tons a year, and the general cargo terminals to 13.6 million tons a year.

The total expected development of the port is thought to bring close to 2.06 billion dollars of investment, 600 million of which is expected to be invested over the next few years. In addition to the investment into the port, a key aspect of the extension negotiation included MPDC contributing to various social investment and infrastructural projects across Mozambique. This will include their contribution towards the construction of the Kanyaka Docking Bridge and the acquisition of a second passenger vessel for Kanyake. It will also include education development, through the rehabilitation of the School of Nautical Sciences and the modernisation of the Practice School of the Navy in Katembe.

These vital investments into the port and the wider Mozambique social sector position MPDC as a company that is looking to enhance, develop and position the Port of Maputo as a key stopping point for vessels travelling along its shipping corridors. The port development will help it meet its capacity goals for the future, whilst ensuring that the people of Mozambique are benefitting from its operations today.

The investment into the port has already been largely successful with MPDC announcing in January that the port handled 31.2 million tons in 2023, much of which was made up of various ores from the mining industry. In addition to this, 61% of cargo was handled by road, and 39% by rail highlighting a new record for rail movement of cargo for the port. These findings highlight the diversified cargo moving through the port, and also the vital position it holds within the local infrastructural network to make the movement of cargo efficient. The efficient movement of cargo is essential for supply chains, and so the port continues to cement its place as a vital stopping point in Mozambique.

As MPDC moves towards the future, it has continued to invest in the port. The company recently announced that it was acquiring a third pilot boat for its maritime service fleet. The vessel aims to increase the efficiency of pilotage operations through its delivery of greater speed and safety in the process of berthing and unberthing ships. The acquisition of the vessel highlights how MPDC continues to invest in the port, and in the process continues to develop the Port of Maputo’s ability to meet cargo demands now and in the future. What underpins MPDC’s continued success across the Port of Maputo is its commitment to investment. Through these investments, the port maintains its reputation for efficient operations supported by the necessary infrastructure developments to meet the growing cargo demand of Mozambique. As the port looks set to expand under MPDC over the coming years, the company’s commitment to regional growth and positioning the Port of Maputo as an attractive and competitive hub for port services will continue to serve it well for many years to come.

Barrick Gold Corporation: Mali

Barrick Gold (Barrick) has long been one of the most prolific gold and copper producers in the world, that is focused on delivering high-margin and longlife assets from across its portfolio. Throughout every development, Barrick is committed to giving back to the local communities in which it operates to ensure that all its projects continue to deliver tangible benefits and mutual prosperity for the company and the people affected by its mining operations. In Mali, Barrick has its Loulo-Gounkoto Mine Complex a key gold-producing asset, bringing continued economic prosperity to Mali and the local community.

The Loulo-Gounkoto Mine Complex, situated in western Mali, comprises two district mining permits: Loulo and Gounkoto. Both Loulo and Gounkoto are owned by Barrick (80%), with the State of Mali holding the additional 20% ownership. Production at the Loulo mine site began in 2005 and comprises an open-pit operation and two underground mines. The Gounkoto mine is an open-pit operation as well as a number of satellite deposits. Gounkoto poured its first gold in 2011 and began developments in 2020 on a new underground mine which delivered its first ore in 2021.

The combined sites make up The Loulo-Gounkoto Complex, and as of 2022 had 6.7 million ounces of proven probable gold reserves combined, which positioned Barrick Gold as one of the top 10 gold producers in the world and the biggest in terms of enterprise value in the whole of Africa. Therefore, when combined with the production at another of Barrick’s gold operations in Mali, the Morila Mine,

Investing in Mali’s Economy: The Loulo-Gounkoto

the two projects collectively contributed $9.3 billion to the Malian economy and accounted for 5-10% of the country’s GDP over the past 10 years. This highlights the significant economic impact of Barrick’s operation across the region for the last decade, providing it with the essential foundation to continue to develop towards the future.

The complex has continued to create major value for Barrick, and in March announced that over its 27-year lifetime had contributed almost $10 billion to the Malian economy, 1 billion of which was delivered in the last 12 months in the form of taxes, royalties, salaries and payments to local suppliers.

However, almost 70% of the economic benefits seen by the mine project, have been reinvested back into the country through the State. This maintains LouloGounkoto’s record as one of the country’s largest and most consistent revenue generators. However, Barrick continues to expand the development and implemented a solar field, which it announced in March, would see the commissioning of the second phase of this project to extend its output by a further 60 megawatts. This development hopes to make its operations more sustainable and bring fresh growth opportunities to the region for the next generations of mining exploration.

Love of Nature

Barrick Gold Corporation: Mali

The development of the solar field has been a key step in the sustainable development of the Loulo-Gounkoto complex and a significant milestone in Barrick’s global Green Energy Strategy. Since the commission of the power plant in 2020, it has significantly cut emissions by 57 kilotons (kt) and has led to the continued development of the plant, which directly feeds the microgrid of the mine. It is expected that the second phase of the solar field will be commissioned ahead of its planned 2024 timeline.

Throughout every aspect of Barrick’s operations, it aims to deliver value, whilst also taking the social, environmental and economic impact of its operations into consideration. It achieves this through 4 key pillars: contributing to the social and economic development of its host countries and communities, protecting the safety and health of its people, respecting human rights, and minimising its impact on the natural environment.

According to Mark Bristow, President and Chief Executive Officer of Barrick, “We continue to work

constructively towards a global resolution of our difference and finding common ground on the key issues of sharing the economic benefits of our operations without damaging the future viability of these valuable contributors to the economy”. This follows his previous comments a few months before that outlines that “In our 29 years in Mali, we have seen multiple changes in government and administration. We have worked with each of these administrations for the mutual benefit of all stakeholders and, in the spirit of partnership, we continue to invest in the extension of LouloGounkoto’s life. It is worth noting that, in line with Barrick’s policy of supporting local businesses, Malian contractors have been appointed to extend Gara West and re-open the Babotot open put where drilling has confirmed a potential high-grade extension of the mineralization structure”.

Bristow’s comments really highlight the focus throughout the Loulo-Gounkoto project on developing for the benefit of those local to its projects. By ensuring that the majority of its operations are supported by Malian contractors and suppliers, Barrick can deliver significant mining

Investing in Mali’s Economy: The Loulo-Gounkoto

resources that directly benefit the economy and citizens of Mali. In addition to this, Barrick is enhancing its sustainable development to position the Loulo-Gounkoto project as a development that is constantly evolving towards a more responsible future.

Ultimately, as a key player in the global gold and copper fields, Barrick Gold Corporation continues to develop projects that bring vital economic and social development to every region and community in which it operates. In Mali, Barrick has long been the leading gold-producing company, that is focused on delivering significant benefits for all those who interact with the Loulo-Gounkoto project. In recent years, as Barrick has moved towards the future of the project, we have seen the implementation of sustainable initiatives and developments such as the solar field, to ensure that its operations in Mali remain effective both now and for many years to come.