Watson Farley & Williams’ Post

We may as well do with Islamic Finance. some principles embedded therein really support the Pan-African way of doing business- Co-existence, 'Ubuntu'.

"ArcelorMittal Liberia (AML) is urging the Government of Liberia (GoL) to do a comprehensive amendment to its Mineral Development Agreement (MDA). Though still before the legislature for approval, the amendment outlines an intricate multiuser arrangement for the nation’s rail and port infrastructure. Having maintained ownership of these critical assets since 2007, the proposed amendment seeks to delineate explicit rights for the GoL concerning the utilization of the infrastructure corridor. Operating on a cost basis with a zero-profit approach, the rail can be managed by AML (ArcelorMittal Liberia), and all users will be subject to paying a transit fee exclusively to the Government of Liberia and not AML." In reiterated statements, the proposition of ArcelorMittal Liberia (AML) assuming control over the rail infrastructure at no cost to the Government of Liberia (GoL) is considered a distinct matter. However, it is imperative to emphasize that AML cannot hold the primary operator or controller status over this pivotal asset. This fundamental principle led to the establishment of the Liberia Rail Authority by the GoL, signifying the nation's capability to independently manage this critical resource. If AML expresses interest in co-management with the GoL, such a collaborative arrangement can be explored. #Liberia #ArcelorMittal #mining #rail #exploration https://lnkd.in/eFdmiPje

#Interview | CDH Director in our Corporate & Commercial practice and Head of Mining & Minerals sector Vivien Chaplin was featured on IOL News where she unpacked SA’s new transport regulator and what this means for businesses. Vivien says that South Africa is on the brink of a major transformation in its transport sector with the proposed Economic Regulation of Transport Bill. The Bill aimed at consolidating regulations across road, rail, port, and air transport introduces a single Transport Economic Regulator with extensive powers. Vivien says that acknowledging the high logistics costs and market dominance of state-owned companies, Government's intention is to streamline pricing regulations, enhance competition, and reduce inefficiencies. The Bill, first introduced in January 2020, is set to be implemented in three phases and in addition to economic regulation across the various transport sectors, includes provisions for access to rail infrastructure and the formation of the Transport Economic Council. To read more about SA's new transport regulator, click here - https://bit.ly/3TeaYTl #transportsector #transformation #economicregulation

Kazakhstan's recent demand for over $150 billion from Kashagan oil partners has sent shockwaves through the oil industry, highlighting the intricate challenges of operating in Central Asia's oil-rich landscape. The Kashagan project, marred by persistent delays and technical obstacles, has encountered a myriad of hurdles, from adverse weather conditions to complex reservoir conditions. While past successes in similar disputes demonstrate Kazakhstan's resolve, the road ahead is fraught with uncertainty as negotiations unfold. Want to gain deeper insights into the complexities of this arbitration saga? Click the link: https://lnkd.in/dJ8tD86G to read the full article #Kazakhstan #KashaganOil #ArbitrationClaims #OilIndustryAnalysis"

Green light for DP World’s $2bn Mozambique port expansion The Dubai-based global ports giant won a 25-year extension to run the port in Maputo, the capital, ending in 2058. Mozambique approved an extended deal for DP World Ltd, JSE-listed Grindrod Ltd, and other operators of its biggest port, including a $2 billion (around R38 billion) expansion that will further draw cargoes away from neighbouring South Africa’s creaking trade infrastructure. The group, which also includes Mozambique’s state-owned railway operator, won a 25-year extension to run the port in Maputo, the capital, ending in 2058. The Council of Ministers approved the deal on Tuesday, according to a statement. The agreement includes investments of nearly $1.1 billion by 2033 when the original concession was due to end. Miners of coal, chrome and magnetite, a type of iron ore, have been sending increased volumes by truck to Maputo as snarl-ups at South Africa’s state-owned rail and ports company Transnet’s have cost them billions of dollars in lost revenue. Source: moneyweb.co.za Date: 23 Jan 2024

Pakistan and Kuwait will soon sign seven memorandums of understanding (MoUs) for $10 billion in investments in Pakistan through seven projects spanning the environment, mining, and food security. In this regard, the federal cabinet approved seven memorandums of understanding (MoUs) will sign during caretaker Prime Minister Anwaarul Haq Kakar’s upcoming visit to Kuwait on Friday. The prime minister, who presided over the meeting, directed that cooperation with the provinces must ensure in order for the projects to complete on time and fairly with Kuwait. Read More: https://lnkd.in/dfnW8gzh #PakistanKuwaitPartnership #InvestmentDeal #StrategicPartnerships #EconomicCollaboration #ForeignInvestments #SIFCInitiatives #KuwaitPakistanRelations #DevelopmentProjects #EconomicGrowth #PMVisitKuwait

South Africa

A group including commodities trader #Trafigura has ordered 275 new container wagons for a key railway linking #copper mines in Democratic Republic of Congo to #Lobito port in neighboring Angola. Galison Manufacturing Ltd. in South Africa is producing the wagons and will deliver the first set by the end of the year, the group known as Lobito Atlantic Railway said in an emailed statement Wednesday. It didn't disclose the value. The group that also uncludes Portugal-based construction company Mota-Engil SGPS SA and railway operator Vecturis SA has been running the concession since January and plans to spend $500 million to refurbish the line. The US International Development Finance Corp.'s board on June 5 approved a $553 million loan to Lobito Atlantic Railway, according to the resolution posted to the Washington-based lender's site. The Lobito corridor is seen as a key export route from mines in Congo and Zambia for minerals critical to the #energy transition, including copper and #cobalt. The US and EU, under the Group of Seven's Partnership for Global Infrastructure and Investment, are supporting the project as part of efforts to counter China's dominance in the central African copper belt. The US lender had initially planned a $250 million loan to the group, which aims to cut cargo transit times from #Congo to Lobito to days from the weeks it can take using other routes. The Africa Finance Corp. is the lead developer of a planned new connection that will link mines in #Zambia to the existing Lobito line in #Angola. Italy committed $320 million to finance that project, according to a June 13 White House Statement. https://lnkd.in/dN9TTm-C Angola🇦🇴 Democratic Republic of Congo🇨🇩 South Africa🇿🇦 and Zambia🇿🇲 are #AfCFTA member countries #LobitoCorridor #Loan #Minerals #Mining #Markets #GDP #Growth #Economy #Debt #Trade #Export #EnergyTransition #EnergySecurity #TradeInAfrica #TradeUnderAfCFTA #Investment

Genel has issued a trading and operations update in advance of the Company's full-year 2023 results, which are scheduled for release on 26 March 2024. https://lnkd.in/eg7fGyxt Paul Weir, Chief Executive of Genel, said: “Since the suspension of exports through the Iraq-Türkiye pipeline in March last year, we have reshaped the business to provide long-term resilience and maximise potential upside exposure for shareholders. We have cut all non-essential activity and significantly reduced spend, while developing a new source of income through domestic sales. We have well over a hundred million dollars in net cash, and expect to be in a position where domestic proceeds, if sustained at levels seen in the fourth quarter of 2023, would mean that our income covers our ongoing costs from March onwards, once Sarta and the arbitration hearing workstreams are complete. We also continue to work hard to add new assets to increase and diversify our income streams. The past six months have included significant work, and effective spend, on efficiently closing out our activity on Sarta and minimising our footprint and cost base in Kurdistan. Our workforce has been reduced by over two thirds in the year. We have progressed civils work in Somaliland, and we continue to defend shareholder value as we progress our arbitration claim regarding the Miran and Bina Bawi oil and gas assets. There is real potential in 2024 for significant improvement in cash generation and delivery of shareholder value from multiple catalysts – the resumption of exports and regular payments, clarity on the timing of the recovery of $107 million of receivables, delivery on our strategy to add new assets to diversify our production portfolio, and a successful arbitration result and subsequent collection.”

#Egypt #Weekly_Insights The Egyptian General Authority for Investment and Free Zones (GAFI) announced on Monday 07/08/2023 the creation of a new single-approval system for projects. GAFI has granted 20 of these new approvals, including four for green hydrogen projects, stated the authority's CEO Hossam Heiba in a press conference held to launch the new system on Monday. The new single-approval system is issued within 20 days and covers licensing for construction, environmental requirements, civil defence, and other permits relevant to investment activities, according to Hossam Heiba - CEO of GAFI. He also announced issuing 20 new golden licenses thus far. The Golden Licence allows investors to acquire or lease land and operate enterprises on it without requiring further government approvals. Furthermore, He revealed that GAFI is set to launch the online platform for the establishment of companies soon. Source: Ahram Online #GAFI #egypt #investment #goldenlicense #government #approvals #freezones #greenhydrogen #construction #emara_soliman #legal_services #compliance