The Government of Liberia and Arcelor Mittal - the world`s largest steelmaker - have agreed a revised mining development deal that will help boost the company`s output of iron ore.
The new deal replaces a deal signed by Mittal, prior to its merger with Arcelor, with the previous unelected government in 2005.
Arcelor Mittal`s activities, which had […]

Liberia has renegotiated the terms of a massive iron ore agreement with the world’s largest steel company, Mittal.
The original deal had been criticised by lobby group Global Witness, which said it allowed Mittal to opt out of human rights and environmental laws.
Total investment has now been increased to $1bn and the government retains ownership of […]

Leading world steel group Areclor Mittal has said it had agreed to a revision of an agreement giving it access to big resourcse of iron ore in Liberia, notably by increasing its investment.
The new government in Monrovia had wanted to re-negotiate improved terms for Liberia and Arcelor Mittal said the new terms would involve investment […]

Hip-hop and fashion mogul Russell Simmons said Tuesday he’s selling bling to help raise money for the development and empowerment of Africans.
The 49-year-old entrepreneur announced his “Green Initiative” jewelry, which is manufactured and designed by Simmons Jewelry Co. Twenty-five percent of proceeds from sales will go toward the Diamond Empowerment Fund, which will support institutions, […]

When China, one of the world’s most corrupt countries, starts dishing out tens of billions of US dollars in aid and business contracts in Africa, the world’s most corrupt continent, alarm bells go off in Washington and other Western capitals. The fact that China turns a blind eye to widespread human-rights abuses on the continent […]

The U.S. State Department and Departments of Commerce and Homeland Security have said they will implement additional measures to help stem the flow of blood diamonds into the United States.
A Government Accountability Office (GAO) study recently submitted to the Senate Committees on Finance and Foreign Relations, and the House Committees on International Relations and Ways […]

“Conflict diamonds” sold illegally to finance civil wars, may be making their way into the United States, despite an international pact to end trade in the gemstones, the
Government Accountability Office said on Wednesday.
The United States, the world’s largest consumer market for diamond jewelry, does not inspect rough diamond imports to certify their origins, a GAO […]

A black market in diamonds continues despite a certification programme intended to stamp out a trade that fuelled civil wars, the head of diamond giant De Beers says.
In a tough speech at the World Diamond Congress in Tel Aviv, De Beers chairman Nicky Oppenheimer said some diamond traders were still buying uncertified rough diamonds in […]

Every time newspaper publisher Trevor Ncube visits his native Zimbabwe, he said, there seem to be more Chinese. He sees them shopping at boutiques, driving fancy cars, picking up their children from elite private schools.
And as in much of Africa, Ncube said, China’s reach into Zimbabwe’s economy is equally pervasive: The roads are filled with […]