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Little Den doubles down on the marketing...
Just released https://twitter.com/CooperationCG/status/1784957195370504211
.."Minister Denis
@ChristelSassou
Nguesso was also invited to share his vision on how the public and private sectors of the Republic of Congo can capitalize on this new era of trade and investment between Africa and the countries of the CCG. The minister took this opportunity to present the assets of the Republic of Congo, specify the reforms undertaken to create an environment conducive to business as well as the current and future measures to guarantee the security of foreign investments. He further indicated that the Congo is committed to carrying out other major actions aimed at promoting economic growth through the development of key sectors such as agriculture, industry, tourism, digital, special economic zones, etc..."
Meanwhile, BrazzaNews relays a report of ongoing brownouts in the capital, Brazzaville...
https://www.rfi.fr/fr/afrique/20240428-congo-brazzaville-cinq-jours-sans-%C3%A9lectricit%C3%A9-dans-la-capitale?
.."Just beyond the Centre national de radio et de télévision (CNRTV), all the districts of the capital of Congo-Brazzaville have become ghost zones by nightfall. You can't see any lights, like in this busy bakery, where making bread is no longer easy. Darel is one of the managers of this business: ‘For five days in a row we've had no power, and that's been difficult for us. Yesterday, we couldn't work for lack of electricity. And the generator consumes too much diesel compared to our profits, so it didn't work", he lamented.
Darel laments the fact that he cannot meet the demand of consumers who have run out of bread: ‘There is no bread in the district and people are condemned to starvation. It's really unfortunate", he added.
To cope with the lack of electricity, some businesses and shops are using generators, whose deafening noise is unbearable, as in front of this night pharmacy where sellers and buyers no longer know which way to turn: ‘If there are excessive power cuts, it's because the network has aged. There will always be an electricity problem in Brazzaville because the network hasn't been overhauled yet,’ they complain.
Fire
The company Énergie électrique du Congo explains the current situation by the destruction by fire of unknown origin of the high-voltage substation supplying the northern zone of Brazzaville. The scarcity of electricity is compounded by the lack of water. Water is flowing intermittently during this period of intense heat..."
Not the best of backdrops to your marketing, I'd say.
GLA
If we take an extremely optimistic view of what may be taking place, could we be seeing a bidding war taking place between China & a Gulf syndicate (Saudi, UAE, Qatar, others + Vale as developer/operator?) being put together in a hurry by Saudi/Manara?
This time last year it looked like a Saudi/UAE led consortium were the leading contenders with the flurry of activity between Saudi/UAE & RoC. Then mid-year there was the new FS study which seemed specifically aimed at the Chinese - Chinese contractors & a China emphasis in the updated presentation. We got the power MOU with CMEC end-December, roughly coinciding with the tweet from AT pointing towards the Saudis (notionally aimed at investors, but of course also letting the Chinese know). It looks like ZIOC have been nurturing at least two serious bidders - which of course makes absolute sense, competition drives a higher price.
Thanks, MM, it is certainly all hotting up for the Zanaga announcement 🔥🧨🔥🔥🔥
Yesterday at the WEF meeting in Riyadh, Nguesso jnr all but name checked the front runners for GCC investment into Zanaga:
RIYADH: Member nations of the Gulf Cooperation Council can play a pivotal role in developing African economies, a special meeting of the World Economic Forum in Riyadh was told on Sunday.
Economic relations between Africa and the GCC are set to grow significantly in the coming years, economists have said, driven by mutual interests in economic diversification, investment and sustainable development.
Denis Christel Sassou Nguesso, the Republic of Congo’s international cooperation minister, said countries in central and western Africa had traditionally looked to Western powers, such as the US, France and the UK, for assistance with their development but were increasingly looking to forge links with GCC countries.
“IT’S A GOOD OPPORTUNITY AND POSITION TO START TO WORK ON THIS COOPERATION WITH (COUNTRIES SUCH AS) SAUDI ARABIA, UAE, QATAR, OMAN AND BAHRAIN. They can help (African) countries to develop their economies and infrastructure projects,” he said.
https://www.arabnews.pk/node/2500866/middle-east
A new version of 'the Great Game' !
Davos Man - the World Economic Forum - has convened a Special Meeting in Riyadh, on now
https://www.weforum.org/press/2024/04/world-economic-forum-convenes-special-meeting-on-global-collaboration-growth-and-energy-for-development/
Lots of the Great and the Good in attendance.
Bandar al Khorayef speaks tomorrow at the Centre for Advanced Manufacturing and Supply Chains
Little Den (neither great nor good, IMO) is there, plugging the co-operation theme.
https://twitter.com/CooperationCG
What with all the recent gallivanting - and coming hot from meeting EximBank - Little Den includes a short video basically saying 'I know there's been a lot of talk of co-operation, be patient, these things take time', we're going as fast as we can..'
Make of that what you will.
GLA
Note the players: RTZ, PIF and Manara Minerals, 'China', and Japanese trading houses...'a broad spectrum of possible bidders'.
19th April: Rio Tinto and Saudi Arabia-backed Manara Minerals Investment are planning to pick stakes in First Quantum Minerals’ Zambian copper mines, Bloomberg reported.
People privy to the development told the news agency that the Sentinel and Kansanshi mines are also attracting attention from Chinese companies such as Zijin Mining Group.
Japanese trading houses Mitsui and Sumitomo are also said to have been assessing the assets, indicating a broad spectrum of potential bidders.
FOR SAUDI ARABIA, ACQUIRING A STAKE IN THE ZAMBIAN MINES WOULD ALIGN WITH ITS STRATEGY TO DIVERSIFY ITS ECONOMY AND SECURE METAL SUPPLIES FOR ITS INDUSTRIAL GROWTH.
The $2.6bn (SR9.75bn) investment in Vale’s base metals unit underscores the kingdom’s commitment to expanding its footprint in the mining sector.
https://www.mining-technology.com/news/rio-tinto-saudi-arabia-stake/:~:text=Buy%20Reports-,Rio%20Tinto,%20Saudi%20Arabia%20eye%20stake%20in%20First%20Quantum's%20Zambia,parties%20will%20submit%20formal%20bids.&text=The%20company%20is%20reportedly%20considering,in%20its%20Zambian%20copper%20mines.?cf-view