• 3 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 7 minutes Middle East on brink: Oil tankers attacked off Oman
  • 11 minutes Is $60/Bbl WTI still considered a break even for Shale Oil
  • 15 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 19 mins The Pope: "Climate change ... doomsday predictions can no longer be met with irony or disdain."
  • 3 hours Coal Boom in Asia is Real and a Long Trend
  • 28 mins Hydrogen FTW... Some Day
  • 35 mins China's President Xi To Visit North Korea This Week
  • 4 hours OPEC, GEO-POLITICS & OIL SUPPLY & PRICES
  • 3 hours Forbes: Giant Floating Solar Farms Could Extract CO2 From Seawater, Producing Methanol Fuel.
  • 14 hours Greenpeace claims one oil rig is "pushing the world closer to a climate catastrophe"
  • 7 hours Why Is America (Texas) Burning Millions of Dollars Per Day Of Natural Gas?
  • 7 hours Fareed Zakaria: Canary in the Coal Mine (U.S. Dollar Hegemony)
  • 9 hours As Iran Nuclear Deal Flounders, France Turns To Saudi For Oil
  • 5 hours Hormuz and surrounding waters: Energy Threats to the World: Oil, LNG, shipping markets digest new risks after Strait of Hormuz attack
  • 4 hours The Magic and Wonders of US Shale Supply: Keeping energy price shock minimised: US oil supply keeping lid on prices despite global risks: IEA chief
  • 19 hours Britain makes it almost 12 days with NO COAL
  • 5 mins Russia removes special military forces from Venezuela . . . . Maduro gone by September ? . . . Oil starts to flow ? Think so . .
Alt Text

How To Play A Recovery In Oil Prices?

A realistic correction in the…

Alt Text

This Supermajor Is Leading The Energy Sector

This supermajor has been standing…

Alt Text

What The Market Is Overlooking In The Occidental Deal

Occidental Petroleum has caught a…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

This Gold-Rich Nation Finally Opened Up

There are a handful of nations that rank as heavyweights in gold production globally. In Africa, all market observers focus on big names like Ghana and Burkina Faso.

But there's a "poor cousin" in this region that gets little attention. Despite the fact its geology may be just as prospective.

That's Cote D'Ivoire. The western neighbour of north Africa's two major gold states.

The reason this prospective country has been ignored has nothing to do with geology. But rather with legislation. With would-be miners here having laboured under an antiquated mining code dating back to 1995.

A lot has changed in the African mining scene since then. With these events apparently attracting the attention of Cote D'Ivoire officials.

So much so, the government has made some big changes of late--including the introduction of a revamped mining code. Which was this week highlighted by one of the country's only major gold producers: Randgold Resources.

Randgold's CEO Mark Bristow told a media briefing that Cote D'Ivoire's newly-adopted mining code "will accelerate the country's emergence as a significant gold producer." Strong words for a nation that currently has little in the way of mined output.

But a look at the new code indeed reveals it to be prospective. The rules will allow an exploration period of up to 10 years for mineral licenses. Also standardizing royalties and taxes, and providing financial incentives such as income tax holidays on production.

That could well be enough to kickstart a wave of expiration here. Especially given estimates that up to a third of the gold-hosting Birimian Greenstone Belt may be located in Cote D'Ivoire (this being the same formation that gives Ghana and Burkina Faso their high-powered output).

A few final tweaks are expected to the new rules over the coming months. But the draft mining code could well start attracting potential explorers soon. Even with gold prices weak, this may simply be too good an opportunity to miss.

Here's to a golden shift,

By Dave Forest




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment





Oilprice - The No. 1 Source for Oil & Energy News