Riyadh and New Delhi go hunting for investors at Mining Indaba
Saudi Arabia and India made the most of the Investing in African Mining Indaba annual conference to showcase the investment opportunities on offer on their own home soil.
In light of Western measures against their shareholders, the fertiliser producers PhosAgro, Uralchem and Eurochem will drastically cut their exports to Africa, a market they had turned to with relative success after the loss of their Ukrainian clients in 2014.
The European Union's decision on 9 March to blacklist the oligarch Andrey Melnichenko, who holds a majority stake in Eurochem, is likely to disrupt Helios's plans. The fund had been counting on the Russian-Swiss fertiliser giant to raise the stakes on Solevo against OCP.
The Luanda government was to organise an international tender to help local blenders secure fertilisers from overseas in order to boost the agricultural sector. After getting off to such a slow start, its seems highly unlikely it will be finalised in the short term.
Already negatively impacted by the Covid-19 pandemic, the prospects for fertiliser sales in Mali, one of the leading markets in West Africa, have deteriorated further. The recent coup d'état has increased uncertainty among international commodities producers and local blenders.
Run by figures close to the seat of power of Moscow, Roscongress Foundation is using the holding of international events to further Russia's drive to extend its links in Africa beyond its longstanding partners in the north of the continent.
Moroccan fertiliser giant OCP, which is facing competition in its African "home" market and regulatory problems in Europe, is expanding its management team in the United States in a bid to find new outlets and increase its sales in both the US and Canada.
The Ang family-owned Genea Angola is behind Cimenfort, the new kid on the block in Angola's phosphate exploration sector. This Brazilian clan with Chinese roots first came to prominence as property developers in the suburbs of São Paulo and Luanda.