Despite promises by Zimbabwean Finance Minister Mthuli Ncube to stabilise the southern African country’s currency, it keeps plunging with the ... Reserve Bank of Zimbabwe (RBZ) auction results showing that the exchange rate stands at Z$732 against the US dollar, up from Z$705 last month.
Mining firms large and small are exporting the expertise gained in their home market to Francophone West African countries where governments are keen to boost their revenue. Canada is home to gold giants like Barrick Gold, as well as minnows that are far from being household names.
“West Africa has more potential than any other region in the world. Its geology is similar to that of northern Ontario, Quebec or Western Australia – exceptionally prolific belts,” says Richard Young, head of the Canadian mining group Teranga Gold Corporation, which is active in Senegal and Burkina Faso.