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By Tshepo Magagane, Mine Finance Senior Africa is blessed with an abundance of base metals including Copper across the Central African Copperbelt (Zambia, DRC), Kalahari Copperbelt (Botswana, Namibia), Kaoko Copperbelt (Namibia, Angola). Prospective tenements are available; however, they lack capital to risk-unlock into Feasible Projects. There are no new Pre-Feasibility Stage projects, and capital is required to […]

Observations By Ceaser Siwale The implementation of sweeping tariff policies under President Donald Trump’s administration has sparked significant debate among economists, business leaders, and global trading partners. Initially intended as a strategic reset to address longstanding trade imbalances and reinvigorate domestic industries, the approach has generated unintended economic consequences, raising concerns about its effectiveness and […]

One of the toughest places for a man to navigate his prejudices and masculinity is right after he leaves the relative comfort of secondary school. This is when he realizes that academically, he will eventually come good but socially, he will never receive pizza on a Friday night and a new iPhone just because he’s […]

By Tshepo Magagane The most value-adding approach is to find and build – FQM started out by producing 2,000t pa and now, just in Zambia, they are about to hit 500,000t pa! Khoemacau was taken over for USD35m in distress (went into it during commissioning) and was sold for USD2.0Bn! The thing about buying a […]

Observations By Tshepo Magagane  Unfortunately, China has cornered most of the global market. And Friedland, who has been connected to China since the ‘90s, says it’s about 30 years ahead of us. And for processing of some minerals, there may be no catching up, given the small and specialized quantities involved. Friedland is building a […]

Opinion and Observations By Ceaser Siwale The Economic Freedom Index (EFI) is an annual ranking published by The Heritage Foundation that assesses the economic freedom of countries worldwide. The index measures the degree to which individuals and businesses can freely operate without undue restraint. Countries are scored across 12 indicators grouped into four broad pillars: Rule of Law, Government Size, Regulatory Efficiency, […]

By Tshepo Magagane Gold – is it getting ahead of itself? Inflation adjusted all time high is USD3,800/oz – as QE started, you had Swiss based wealth managers going USD4,000-5,000/oz (the purported relationship with interest rates) 15yrs back post GFC when Central Banks raced to hold interests rates at zero, this is what we were […]

Observations By Ceaser Siwale The USAID pullback is not just a funding issue – it also signals a shift in geopolitical relationships. U.S.-Africa relations are poised to change. For decades, foreign aid was a pillar of American “soft power” in Africa, a way to project influence and goodwill. Now that pillar is crumbling. African governments and […]

…. but how will you feed your family if youdon’t laugh? Have you seen how men behave around a rich man? Think Freedom Sikazwe-style laughter and worse, having nothing to offer in return.  Because we do it. Prostitute our self worth and decency to a man with money in the bank in exchange for maybe […]

These modern kids call it “friends with benefits”. In essence, you get to enjoy the benefit of a woman’s companionship without months long due diligence or extortionate KYC. You see each other when you can, don’t owe each other birthday gifts or good morning texts.  Quite a fascinating concept, this.  One that men these days […]

Observations By Ceaser Siwale, Executive USAID’s abrupt funding halt has delivered a shock to health and welfare programs across Africa. In early 2025, the U.S. government terminated roughly 90% of its foreign aid contracts, effectively ending some 10,000 USAID-supported projects worldwide​. Termination letters went out to organizations fighting hunger and disease, informing them their life-saving programs […]

Written By Tshepo Magagane 1. Copper Industry needs to invest USD2.1trn to meet demand My Transition obsession – as I have said, “Africa missed out on Chinese Steel Production demand driven commodities rally while Australia fully capitalised on this to not only build at a national level but to create local capital pools”. 1. There […]

Thoughts & Insights from Ceaser Siwale Having spent the past 27 years in financial markets—24 of them in investment banking—I have witnessed firsthand the paradox that exists within our industry. While we excel at navigating mergers, deciphering complex financial models, and trying to anticipate market trends, many of us struggle when it comes to managing […]

Written By Tshepo Magagane When someone talks about it, ask them a simple question “when last were you there, how long were you there for, what business are you doing there”! I have this oversimplification of risk and totally mischaracterization! If Friedland had listen to any of these “quantitative measures, he would not have build […]

Analysed By Tshepo Magagane Not all metals are created equal! Not all commodities are created equal! Not all jurisdictions are created equal! Not all management teams are created equal! You need teams that understand Geology, Engineering, Social, Politics BUT most importantly Mine Finance. Why I will keep shouting about the opportunity the Transition presents for […]

Articulated By Tshepo Magagane Why we have to continue being more innovative in attracting and slicing capital into Mine Finance to solve this gordian-knot of lack of capital to unlock mining projects. NB: Metals & Mining has a deluge of info – you have to be able to sieve and make sense of it – […]

Mutisunge Zulu Director & Chief Risk Officer | Qualified Risk Expert | Harvard & Manchester University Alumnus | Board Director | In this article, I aim to share my reflections, informed by diverse influences such as my faith, academic programs at Alliance Manchester Business School Harvard Business School Executive Education and importantly, both formal and […]

Analysis By Tshepo Magagane NB: while on the other side – [Ivanhoe Mines is entering a new phase of strong free cash flow generation, following the completion of peak capital expenditures at its flagship Kamoa-Kakula copper complex] – dear me, he called it right!! 1.  Lumwana – Zambia Low grades realities – Barrick using USD3/lb […]

Written By Denise Cortês-Keyser 🚨 The global race for minerals is on. hashtag#AI, hashtag#EVs, and hashtag#renewables are fueling demand for lithium, graphite, and rare earth metals. China dominates supply. The U.S. and Europe need alternatives. Mozambique holds some of the world’s most strategic minerals—yet remains largely untapped. The time to invest is NOW. 📊 𝐌𝐨𝐳𝐚𝐦𝐛𝐢𝐪𝐮𝐞’𝐬 𝐌𝐢𝐧𝐢𝐧𝐠 & 𝐂𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐌𝐢𝐧𝐞𝐫𝐚𝐥𝐬✔ 𝐓𝐨𝐩 𝟑 𝐆𝐥𝐨𝐛𝐚𝐥 𝐆𝐫𝐚𝐩𝐡𝐢𝐭𝐞 𝐏𝐫𝐨𝐝𝐮𝐜𝐞𝐫 – Supplies 10% of global graphite for […]

Written By Tshepo Magagane Firstly, they call it high grade and taking a closer look at it, this is 61% – so they cant be looking at HBI/DRI. They why pay up this much for the asset Relative comparison – PFS only coming out this year and first ore in 2030…yet they are paying  0.9x […]

Analysed By Tshepo Magagane As much as they are a fool’s errand, you must pay attention to them for debt and equity models. I am going through the Barrick – Lumwana/Reko Technical reports. They are using this LT price as a scenario, but both projects would generate an IRR at USD3/lb (and interestingly, for Gold at […]

Henri Pierre-Jacques Co-Founder and Managing Partner at Harlem Capital 🧵There are ~3,000 Billionaires globally and I’ve gotten to know 16 of them 8 of them are investors in Harlem Capital and 8 of them I know personally. Here’s what I’ve learned from knowing 0.5% of the Billionaires 1) They rarely ever stop working Every single one—ranging in […]

Thoughts By Denise Cortês-Keyser Africa isn’t just adapting to global trends—it’s driving them. DRC’s mineral-rich region faces disruption, shaking global tech & EV supply chains.Africa’s GDP recalibration could redefine economic power & unlock new capital flows.Markets are volatile, and Africa is at the center of trade, energy, and investment shifts. This isn’t just news. It’s […]

Thoughts From Denise Cortês-Keyser 📢 For centuries, Africa has sold its wealth to the world. But what if we kept that wealth within our borders? Right now, Africa trades more with hashtag#China, hashtag#Europe & the U.S. than with itself—and that’s a problem. 📊 Only 15% of Africa’s total trade happens within the continent—compared to 60% in Asia and 70% in […]

Mutisunge Zulu As Zambia nears its 2026 polls, it could be facing mounting economic and political pressures. Like many African sovereigns, pre-election cycles drive policy shifts, often aimed at fulfilling electoral commitments. These developments also shape country and sovereign risk, influencing investor sentiment. 1. Power Deficit:- Energy security remains a concern. Despite improved rainfall, dam […]

By Tshepo Magagane – Pangaea Mining & Infrastructure Executive [Kansanshi – Copper C1 cash cost1 of $1.21 per lb was $0.08 lower quarter-over-quarter as a result of the drawdown of stockpiles Sentinel – Copper C1 cash cost 1 of $2.11 per lb was higher than the preceding quarter as a result of lower production volumes and higher tolling […]

Written By Sheila Khama (extracted from a LinkedIn Post) Should Africa’s Citizens, Institutions, NGOs and Governments Be Concerned? @FT reports that on February 11, 2025, the US halted enforcement of the FCPA using Presidential Executive Powers. Introduced by Carter in 1977, strengthened by Obama in 2010-Dodd Frank Act. One provision aimed to curb corruption from bribes […]

BY DEAN N ONYAMBU The Market Brain astutely highlights a critical oversight in Zambia’s economic strategy. In 2024, the Bank of Zambia (BoZ) had a unique opportunity to establish a lower USD/ZMW exchange rate baseline. Subdued economic growth dampened import demand, reducing USD requirements and creating a strategic window for action. By deploying excess USD reserves beyond […]

BY DEAN N ONYAMBU Beneath the vast skies of Africa lies a land rich with promise. Its soil holds the potential for abundance, but its fate rests in the hands of those who nurture or neglect it. Progress does not arrive by chance; it emerges from within, shaped by its people’s choices, values, and actions. While […]

Coal – imagine having a 7bn market cap and you are adding almost half a billion in cash each quarter😂😂 Have been doing this in various roles for over 2 decades – it is important to block out a lot of noise – dear me, there is a lot of noise – even some years […]