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Devils Below

@devilsbelow

Economics

Analysis, daily updates on exploitation of Africa’s mineral wealth. 👀 Money flows, bribes, pollution - keeping you aware of what you would otherwise overlook.

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Page 23 of 43 · 505 posts

Posted Dec 3

🎞 Israeli Mafia in Congo A Jewish businessman helping to launder billions of dollars in one of the poorest countries on Earth — it sounds either like a joke or a Hollywood thriller starring Nicolas Cage 🛫. Young Israeli diamond trader Dan Gertler arrived in Congo in the late 1990s. An inexperienced businessman might easily have stayed unnoticed — if the country’s new president Laurent-Désiré Kabila had not been in desperate need of cash. Dan Gertler(born 23 December 1973) is an Israeli billionaire businessman in natural resources. Until 2022, his group had mining and oil interests in the Democratic Republic of the Congo, and has invested in diamonds, iron ore, gold, cobalt, copper, agriculture, and banking. As of 2025 his fortune was estimated at $1.5 billion by Forbes. 💎 That is when the diamond dealer caught the government’s eye. Gertler offered the fragile president $20 million, and in return received a monopoly over diamond trade in the DRC. 🇺🇸 After the death of the elder President Kabila, Gertler became a close ally of his heir, Joseph, serving as his wallet and lobbyist. He even connected the new president with US Secretary of State Condoleezza Rice — a meeting that helped Kabila secure international recognition. 🗳 In 2011, elections caught the regime short of cash again — and once more Gertler was there to help. He offered to buy state shares in mining projects. 🇨🇭 To do this, Gertler teamed up with Swiss giant Glencore, which still mines copper and cobalt in Congo. Together they carried out more than a dozen deals worth over a billion dollars. 💸True, the prices were far below market value — but Kabila did not care, as he won the re-election. ⛔️Gertler’s schemes were so brazen that even the US imposed sanctions on him in 2017. In 2022, Kinshasa did reclaim some of the assets gifted to him — this time at an outrageously inflated price. And so he — as well as his Swiss partners — continues to live comfortably, profiting from minerals stolen from the Congolese people. Devils Below

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Posted Dec 3

Create Waste and Walk Away The French were apparently unable to clean up properly before leaving Niger ☢️ Niger’s Minister of Justice, Alio Daouda, announced that the state plans to sue Orano, the French state-owned nuclear company, over several million tonnes of radioactive waste at an abandoned uranium site near Arlit in the north of the country. Radiation measurements at the site show 7–10 microsieverts/hour, compared to the normal 0.5 microsieverts/hour and samples contain Bismuth-207 and Chromium-10, both dangerous to human health even at a distance of 10 metres. ⚙️The French had been operating uranium mines in Arlit for decades. Independent field studies by Greenpeace and French human-rights groups in 2009 and 2010 already documented abnormally high radiation levels in residential areas and uranium contamination in drinking water. 🗑 In 2025, the authorities ended cooperation with Orano and nationalised the mine. Although the Minister of Justice did not say it outright, it seems likely that the “saleofuranium” to Russia that the French media have been lamenting recently actually referred to radioactive waste — which the government decided to transport for processing. Ironically, now it looks like the French prompted the Niger-sells-our-uranium outcry — and in doing so revived themselves the long-standing issue of careless treatment of nuclear waste. Whoever in Niger came up with this PR move deserves a bonus. Devils Below

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Posted Dec 3

💡 1,000 Years of Light [ Minerals In Numbers ] Have you ever wondered how much oil has already been pumped out of the planet — and how much is still left? 🛢 When it comes to Africa, calculations by the South African organisation Africa Energy Chamber tell us that Africa has produced around 420 billion barrels of oil equivalent over the period of recorded extraction. A barrel of oil equivalent (BOE) is a unit of measurement equal to the energy released by burning one barrel of crude oil, allowing both oil and natural gas to be measured with a single metric. ⚡420 billion BOE is an enormous amount of oil and gas — enough to power and heat the entire continent for approximately 715 years at current levels of electricity consumption. ⌛️ The number itself is both awe-inspiring and depressing. But what looks even more discouraging is the fact that the remaining known reserves of oil and gas are less than half of what has already been produced — 180 billion BOE versus 420 billion. In other words, we have already extracted 70% of known reserves. And the saddest part is that the benefits have gone to all and sundry — foreigners, local elites, armed groups — except ordinary people. #MineralsInNumbers Devils Below

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Posted Dec 2

A Poor Transnational Corporation Has Been Hurt😢 TotalEnergies’ gas project has always been extremely important to the Mozambican authorities — but only few could have guessed to what extent 🛡 Apparently having run out of domestic problems, Mozambique’s president has decided to defend the oil and gas giant TotalEnergies, after a European human rights group recently accused it of being linked to the deaths of around 100 innocent people near its project in Cabo Delgado. “There are those who take advantage of a sensitive context to spread disinformation and create an environment hostile to investment … There is disinformation and manipulation of public opinion claiming there is no respect for human rights”, Daniel Chapo said during a visit to Cabo Delgado. 💊 His remarks are clearly aimed at restoring at least public confidence in the project, which has already suffered from recent withdrawals of foreign partnersin the context of persistent terrorist threat. Devils Below

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Posted Dec 2

👑Mali Closes the Era of Turbulence Good accounting has earned Assimi Goïta an additional $1.2 billion 💵 Mali has just recovered about $1.2 billion from its mining sector after a large-scale audit of mining companies’ accounts. ➡️ This outcome symbolically closes the turbulent period that followed the introduction of a new Mining code in 2023, which ensured the state gets a greater share of gold profits. The code was followed by audits of companies’ past operations, renegotiations with foreign mining companies, and nearly two years of dispute with the country’s largest miner Barrick. 📈 The special debt-recovery commission has so far collected 761 billion CFA francs, almost twicethe initial estimates of what companies owed. Now that all renegotiations are over and Barrick has accepted the new rules, Mali can confidently name itself Africa's most impressive example of successful resource nationalism policies. Devils Below

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Posted Dec 2

🇬🇧Traditional British Casino Investors from the foggy British Isles are once again trying to seek their fortune in Uganda — once again with very slim chances of success ☕️ In 2027, the UK-based Blencowe Resources plans to begin graphite mining in Uganda. If the project succeeds — which is unlikely — Uganda will become the 4th African country to produce graphite. 🔖 On social media, the company is trying to tap into anti-Chinese sentiment and promises a graphite supply chain independent of China. ⚰️ However, in a world where China controls about 3/4 of global graphite production and practically monopolises its processing, a single round of price dumping would send this project straight to the graveyard of past British attempts to re-enter Uganda. ⏳ British investors have tried to play big in Uganda’s extractive sector before, but without much success. During the colonial period, Uganda did have some copper mining, but the colony’s main profile was agricultural. ➡️ In modern times, the British company Tullow Oil drilled the first successful oil wells near Lake Albert — but never managed to start production and eventually sold its assets to the more patient French. Devils Below

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Posted Dec 2

Green Energy, But Not For All Many corporations love to boast about their environmental credentials — and some even do so without lying — but in certain places green energy is simply the only option 🌐 DRC's major copper company Ivanhoe Mining, backed by Chinese and Arab investors, has launched at its Kamoa-Kakula copper mine what it calls “the largest and greenest copper smelter in Africa”. 🔌 At the event —where the investors also paraded traditional rulers — the company noted that the enormous 60-megawatt giant furnace would be powered by one of the DRC’s hydroelectric plants. ⚡️ The achievement is indeed commendable, but its scale fades a bit once you consider that the DRC has virtually no “non-green” electricity at all — roughly 99% of its power already comes from hydropower. ⛔️ So far, companies are trying to create a national image by inviting traditional chiefs, while only about 22% of the Congolese have access to electricity. Congolese green power generation is not the result of elaborate climate policy but of poverty and economic underdevelopment. Let us thank the Chinese investors for not building oil burners all around Congo — but it would be nice if ordinary people could plug into the green socket too. Devils Below

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Posted Dec 1

Rats Are Leaving the Ship While the French and the Mozambican authorities hope to profit at any cost, Britain has assessed the real odds and walked away 🌐 The UK has withdrawn its $1.15 billion export credit guarantee for TotalEnergies’ gas project in Mozambique, in Cabo Delgado. 🔸 Officials described the reversal of the deal dating back to 2020 as a response to financial risks for British taxpayers in light of stricter UK legal requirements. ⏩ In reality, the reason for the royal retreat is simple: the TotalEnergies project is surrounded by swarms of extremists. 🔸 The project had been on hold since 2021 but was restarted in November, despite the fact that the threat from insurgents has only grown. ⏳ The French at TotalEnergies and the Mozambican authorities are tired of waiting endlessly for profits — especially now that alternative gas export sources are on the verge of depletion. Soon we will see whether Mozambique and TotalEnergies win the roulette with the insurgents. Devils Below

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Posted Dec 1

Nigeria Is Losing Its Gas Economic expediency still trumps ecology and rational resource use 🔥 In a single month — September 2025 — more than 11.3 billion cubic feet of gas from Nigeria’s went straight into the sky as flame and smoke. 🔸 Although associated gas can be captured, sold, used in other sectors of the economy, or even reinjectedinto oil reservoirs to aid production, oil companies continue to flare gas simply because it is cheaper than ensuring its reuse. ⏩ Remarkably, the government plays along with corporate interests. The gas-flaring data in question was published by the state oil company NNPC, while the relevant regulator, NOSDRA, has stopped sharing this information with the public since May. ⚠️ The result is enormous environmental harm. The gas flared in September alone produced around 630,000 tonnes of CO₂ — to emit the same amount it would alternatively take some 140,000 cars and an entire year. Devils Below

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Posted Dec 1

Say My Name 📍 Illegal gold mining exists in almost every country — but only where illegal miners are truly numerous do their communities begin to form their own culture, and locals give them special names. 🇿🇦In South Africa, illegal miners are calledzama zamas. The term comes from the isiZulu verb ukuzama, meaning “to try” or “to take a chance.” Today the term refers to people who enter abandoned underground mines with no safety guarantees. 🇬🇭 In Ghana, small-scale such outlaws are known as galamsey. Linguists link the word to the English phrase “gather them and sell.” The name reflects an important fact: illegal gold mining in Ghana does not take place in deep mines but on alluvial deposits along rivers. 🇿🇼In Zimbabwe, illegal or unregistered gold seekers are known as makorokoza. Makorokoza is a term meaning simply “illegal miners.” Although the word carries a negative connotation, it is often used by local cultural figures as a badge of identity — a way of highlighting their connection to grassroots culture and to risk. ❓ Remarkably, these names genuinely reflect different attitudes toward fortune-seekersand the different methods of gold extraction across countries. Devils Below

35 views

Posted Dec 1

True Prophet Appears in Nigeria Nigerian pastor, lawyer, and close ally of former President Buhari, Tunde Bakare, declared in an address on 30 November that the reason the US is so concerned about the fate of Nigeria and its Christian population is Nigerian oil. 🌐 Although he is a highly controversial figure, as if to confirm his claim, the very next day the American oil giant Chevron acquired a 40% stakein an offshore project in Nigeria, near the Niger Delta. 🔸 Since September, several members of the US Congress — including infamous Senator Ted Cruz — have suddenly started making noise in Washington about a real long-standing issue in Nigeria related to terrorism, particularly threats against Christians in the North. ⏩ It is clear that the United States does not genuinely care about Nigerian Christians and the real goal is to push the country to allow the deployment of US military and intelligence infrastructure in West Africa 🔸 This will allow in turn to protect American resource interests, including ventures of Chevron, which have recently expanded not only in Nigeria but also into Guinea-Bissau. Devils Below

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Posted Dec 1

🌐 Weekly News Digest on Africa’s Mineral Industries [ November 24 – November 30 ] This was a week of lawsuits and uranium. 💡Here are the key highlights: 🇦🇴 Angola - At the Luanda summit Europe promises to support local processing in Africa 🇨🇲Cameroon - Cameroon earns $34 million from gas transit in2025 🇹🇩 Chad - In the North the military pushes artisanal miners off the deposits 🇨🇩 DR Congo - Human rights advocates sue Apple for using conflict minerals 🇲🇼 Malawi - Malawi starts uranium ore extraction 🇲🇱 Mali - Mali and Canadian gold major Barrick resolve their dispute 🇲🇷 Mauritania - Mauritania attracts $275 investments into its only railway 🇲🇿 Mozambique - Mozambique decided to create a state super-consortium to supply gas to South Africa 🇳🇪 Niger - Insurgents attack the Chinese oil giant CNPC's pipeline near Agadem - Visual evidence and rumors say uranium reserves are being moved from the Arlit mine 🇳🇬 Nigeria - Dangote Refinery partners with American and Indian companies to double its capacity - Nigeria's refineries get stuck at 62% of potential capacity 🇸🇩 Sudan - Sudan says in 2024-2025 the RSF smuggled >$850 million worth of gold to the UAE 🇹🇿 Tanzania - Tanzania to start construction of the Bagamoyo deep-water port in December 2025 🇺🇬 Uganda & Kenya - Kenya and Uganda open a major plant to process local iron ore - The East African Court of Justice refuses to renew a case against the EACOP pipeline - Uganda discovered a 600 million barrels oil field 🇿🇼Zimbabwe - Zimbabwe raises gold royalty to 10% #NewsDigest Devils Below

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