Tag: Mining

  • International Tensions Rise as China Rejects Mining-Linked Terror Funding Claims

    International Tensions Rise as China Rejects Mining-Linked Terror Funding Claims

    According to Premium Times, the Chinese government has officially rejected allegations made by US lawmakers regarding illegal mining and terrorism financing in Nigeria. The rebuttal comes after a report suggested that some Chinese-owned mining operations in Northern Nigeria were providing financial support to insurgent groups to secure access to mineral-rich lands.

    In an update published by the same outlet, the Chinese embassy in Abuja described the claims as “baseless” and “politically motivated.” They maintained that Chinese companies operate within the legal framework of Nigerian law and contribute significantly to the country’s industrial growth and infrastructure development.

    The dispute has placed the Nigerian government in a delicate diplomatic position, as both the US and China are key economic and security partners. Meanwhile, the Federal Government has vowed to intensify its crackdown on all forms of illegal mining, regardless of the nationality of the firms involved, to protect national security.

    The Nation and Daily Post reported on the brewing diplomatic row. The Nation quoted a diplomatic source saying, “Nigeria must verify these claims independently to avoid being a pawn in global power play,” while Daily Post noted that “security agencies have already arrested several foreign nationals in connection with illicit mining.”

    Echotitbits take: The “resource curse” is taking a new dimension in Nigeria with these international allegations. If proven, the link between mining and terror could lead to heavy sanctions. Nigeria needs to urgently formalize its artisanal mining sector to prevent it from becoming a slush fund for insurgents.

    Source: Vanguard – https://www.vanguardngr.com/2026/02/china-denies-us-claims-of-illegal-mining-terror-funding-in-nigeria/, February 13, 2026

    Photo credit: Vanguard

  • Afreximbank-backed “gold bank” initiative takes shape with Egypt partnership

    Afreximbank-backed “gold bank” initiative takes shape with Egypt partnership

    2025-12-31 08:35:00

    In coverage from PUNCH, Afreximbank is moving toward a pan-African “gold bank” concept via a formal partnership with Egypt’s central bank, aimed at building structured value chains around Africa’s gold sector.

    The initiative is being framed as an institutional push to formalise gold trade, strengthen reserves management options, and reduce fragmentation that often leaves value outside producer economies.

    For African commodity strategy, the bigger idea is shifting from “raw export” to financeable, standardised flows that can support industrial policy, reserves, and cross-border trade.

    Validation: Afreximbank said “Memorandum of Understanding… for the Establishment of a Gold Bank programme in Egypt.” and Egypt Today reported “to establish a gold bank aimed at transforming Africa’s gold industry.”

    Echotitbits take: If executed well, this could be a template for commodity-backed trade finance that keeps more value within Africa. Watch for governance details, bullion standards, custody frameworks, and how smaller producer states are brought in.

    Source: Tanzaniatimes — 31 December 2025 (https://tanzaniatimes.net/egypt-and-afreximbank-to-establish-a-pan-african-gold-bank/)

    Tanzaniatimes 31 December 2025

    Photo Credit: Tanzaniatimes

  • Mining: Adegbite urges companies to operate within guidelines 

    Mining: Adegbite urges companies to operate within guidelines 

    Companies in Nigeria’s mining sector including other operators in the Minerals and Metals Sector have been urged to operate within the operational guidelines in the nation’s Mining Act.

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    The Minister of Mines and Steel Development, Olamilekan Adegbite made the call in Abuja when he played host to the Governor of Taraba state, Darius Ishaku.

    While he commended Governor Ishaku for his determination to improve the economic status of Taraba through mining and making efforts to visit the Ministry to seek clarification on development in the sector to “Know exactly what Taraba State is doing right or wrong in mineral exploration”, the Minister assured that States would be carried along in the efforts geared towards sanitizing the sector to make it viable for investment.

    Adegbite noted that Taraba State is richly endowed with abundant mineral resources especially Gemstone which is a veritable source of revenue generation, but said that mining of the minerals by mining companies must follow laid down procedures including obtaining operational mining licenses as well as payment of royalties to Federal Government.

    In his remark earlier, the Taraba State Governor, Darius Ishaku said the purpose of his visit was for Taraba State to be carried along by the Federal Government in its plan on mineral exploration and mining.

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    He said they were a lot of illegal miners operating in the state and has come to the ministry to seek ways utilizing opportunities that would place the state in the right path to benefit maximally from mining of mineral resources in the Taraba.

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