News

February 05, 2010

Treasure Hunting At Indaba: Diary Of A Private Investor, Day Two

By Susie Boeckmann

With over 4,000 delegates converging on Cape Town for Indaba and many having gone on to Livingstone for the All Africa Conference it seems suddenly much quieter in the aftermath. But deals and announcements are coming thick and fast. Sylvania and Jubilee have signed an agreement regarding the Conroast technology. Jubilee chief Colin Bird was conspicuous by his absence this week, so rumours circulated that something was afoot. He also signed off Kiwara to First Quantum. FQ is a growing mining and metals company engaged in mineral exploration, development and mining. The company currently produces copper, gold and sulphuric acid and expects to become a significant nickel producer by 2012. It operates in Zambia, DRC and Mauritania, with additional projects to be added in Finland, DRC, and Zambia. The company has a market cap of around C$7.6 billion and is quoted in Canada and London.

A preponderance of different corporate and project risk assessment companies and law firms were busily writing notes and huddled in meetings throughout this year’s Indaba. One example was law firm White and Case, a company which specialises in representing people coming into Africa with money to buy resource projects, and which has offices in Russia, Shanghai, Paris, London, and Johannesburg.  A very global industry!

There were hardly any Chinese at the conference this year. One that was...