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Jack Dorsey says that his payments company, Block (formerly Square), is expanding its bitcoin mining ambitions from designing chips to developing a full bitcoin mining system. "Building on these insights and pursuant to our goal of supporting mining decentralization, we plan to offer both a standalone mining chip as well as a full mining system of our own design." "Mining isn't accessible to everyone," Dorsey wrote when Block first entered the business of building mining hardware in 2021. "Bitcoin mining should be as easy as plugging a rig into a power source. The company was light on the details in this latest announcement, but Dorsey posted in 2021 that the company was considering a "bitcoin mining system based on custom silicon."
Persons: Jack Dorsey, We've, Dorsey, Block, Thomas Templeton Organizations: Mining Locations: China, Kenya, Malawi, Zambia
watch nowHELL'S GATE, Kenya — Two-and-a-half hours northwest of Nairobi by car, a small group of bitcoin miners set up shop at the site of an extinct volcano near Hell's Gate National Park. "That doesn't happen without the bitcoin miners and us being globally distributed." MacKenzie SigalosWherever the operation, bitcoin mining is a volatile business, because so much of the economics depends on the price of the cryptocurrency. Before getting into bitcoin mining, he and his two co-founders, Philip Walton and Janet Maingi, spent years building internet connectivity infrastructure in rural and urban Africa. Demand from bitcoin miners on these semi-stranded assets is making renewables in Africa economically viable.
Persons: Jack Dorsey's, MacKenzie Sigalos, Erik Hersman, Bitcoin, Gridless, Lake Naivasha, bitcoin, Adam Sullivan, Philip Walton, Janet Maingi, Michael Gottschalk, Nic Carter, Carter, Hersman, It's, it's Organizations: CNBC, Kenyan, Core, Deutsche Bank, Marathon, United Arab, Getty, Island Ventures, Miners, International Energy Agency Locations: Kenya, Nairobi, Lake Naivasha, Malawi, Zambia, Venezuela, Lebanon, Gate, Lake, U.S, Texas, Russia, China, America, Africa, Toronto, Argentina, Florida, United Arab Emirates, Paraguay, Hersman, Sudan, Iceland, El Salvador, Bhutan
An estimated 20 million people in southern Africa are facing what the United Nations calls “acute hunger” as one of the worst droughts in more than four decades shrivels crops, decimates livestock and, after years of rising food prices brought on by pandemic and war, spikes the price of corn, the region’s staple crop. Malawi, Zambia and Zimbabwe have all declared national emergencies. Its effects are all the more punishing because in the past few years the region had been hit by cyclones, unusually heavy rains and a widening outbreak of cholera. ‘Urgent help’ is neededThe rains this year began late and were lower than average. In February, when crops need it most, parts of Zimbabwe, Zambia, Malawi, Angola, Mozambique and Botswana received a fifth of the typical rainfall.
Organizations: United Nations Locations: Africa, Malawi, Zambia, Zimbabwe, Angola, Mozambique, Botswana
Soaring copper prices show no signs of slowing down, analysts say, with the red metal's rally fueled by supply risks and improving demand prospects for energy transition metals. Copper prices with May delivery traded at $4.323 per pound in New York as of Wednesday morning, extending gains after settling at its highest level since June 2022 in the previous session. Copper briefly hit a high of $4.334 in intraday trading on Tuesday, reflecting its highest level since the middle of January last year. Three-month copper prices on the London Metal Exchange traded 0.6% higher at $9,477 per metric ton. Wall Street banks are bullish on the outlook for copper prices through to the end of the year.
Organizations: Mopani Copper Mines, London Metal Exchange, Citi Locations: Mufulira, Zambia, New York,
The country’s top priority “is securing food for all Zimbabweans,” the president told journalists at the state house in Harare. Kb Mpofu/ReutersIn Zambia, Malawi and Central Mozambique, extreme drought has damaged more than 2 million hectares of crops, Oxfam said. Zambia declared its drought a disaster on February 29. In Mozambique — a country accounting for only 0.2% of global emissions — 3 million people face hunger, according to Oxfam. The country’s capital, Maputo, experienced devastating floods in March, after Tropical Storm Filipo hit followed a few weeks later by further intense rainfall.
Persons: South Africa CNN —, Emmerson Mnangagwa, El Niño, Zimbabwe —, Filipo, ” Teresa Anderson, Machinda Marongwe, ” Marongwe Organizations: South Africa CNN, Oxfam, Reuters, Democratic, United Nations Office, Humanitarian Affairs, United States Agency, International, Systems Network Locations: Johannesburg, South Africa, Africa, Zimbabwe, Zambia, Malawi, Harare, , Angola, Botswana, Democratic Republic of Congo, Mozambique, Namibia, Pumula East, Bulawayo, Central Mozambique, ” Southern Africa, Maputo
US tourist on safari in Zambia killed by charging elephant
  + stars: | 2024-04-04 | by ( Jack Guy | ) edition.cnn.com   time to read: +3 min
CNN —An elderly American woman was killed in Zambia after an elephant charged at a vehicle carrying tourists in Kafue National Park. “This is a tragic event and we extend our deepest condolences to the family of the guest who died,” he said. The deceased woman has since been named as 79-year-old Gail Mattson by her family, correcting the age initially cited by Wilderness. “We would like to share some amazing pictures of our wonderful Mom’s trip to South Africa with her friends and family. Zambia is popular with safari travelers thanks to a number of national parks and the quality of its guides.
Persons: Keith Vincent, , ” Vincent, , Gail Mattson, Blake Vetter, Vetter, Mattson, ” Vetter, Rona Wells, ” Wells, Bianca Rudolph, Lawrence Rudolph Organizations: CNN, Wilderness, Facebook Locations: American, Zambia, South Africa, Africa
Copper plates on wagons ready for onward shipping at the Mufulira refinery, operated by Mopani Copper Mines Plc, in Mufulira, Zambia, on Friday, May 6, 2022. KoBold Metals, a mining startup backed by billionaires including Bill Gates and Jeff Bezos, is bullish on the discovery potential of some of the most sought-after energy transition metals. It comes shortly after the Silicon Valley-based metals exploration company announced the rare discovery of a vast copper deposit in Zambia. The point of the company is to discover, find and develop mineral resources that we need for the energy transition," Goldman said via videoconference. KoBold Metals says it uses artificial intelligence to create a "treasure map" to help find new deposits of materials such as copper, lithium, cobalt and nickel.
Persons: Bill Gates, Jeff Bezos, Josh Goldman, Goldman Organizations: Mopani Copper Mines, KoBold Metals, CNBC, KoBold Locations: Mufulira, Zambia, videoconference
CNN —Bay FC, the newest team in the National Women’s Soccer League (NWSL), has made an ambitious statement of intent ahead of the upcoming season by signing Zambian international Racheal Kundananji. “I want to give the [Bay FC] fans what they want – to enjoy the games, to enjoy seeing me playing and scoring.”Kundananji joins Bay FC from Spanish side Madrid CFF for a reported world record fee of €735,000 (around $787,000), according to multiple reports including ESPN. CNN has contacted Bay FC, Madrid CFF and the NWSL regarding the transfer fee. The contract runs through the 2027 season with an option for an additional year in 2028, Bay FC said. “We are delighted to add Racheal to our group,” Bay FC general manager Lucy Rushton said in a press release from the club.
Persons: Kundananji, ” Kundananji, Lucy Rushton, Diego Souto, Asisat Oshoala, Jen Beattie, Brandi Chastain, Leslie Osborne, Danielle Slaton, Aly Wagner Organizations: CNN — Bay FC, National Women’s Soccer League, Zambian, , BBC Sport Africa, FC, Bay FC, Madrid CFF, ESPN, CNN, Real Madrid, Liga F, Spain’s Liga, San, Spanish, Costa, US Women’s National, Sixth Locations: “ People, Zambia, Bay, Spanish, Scottish, San Jose, Kazakhstan, Costa Rica
"We're seeing a shift in much larger center stone engagement rings, primarily as a result of lab-grown diamonds, and sapphires and rubies tend to be very hot," Daga said. A decade ago, about 5% of engagement rings were colored gemstones, according to Daga. watch nowIndustry giant Signet Jewelers is seeing the same gemstone trend in the wedding category as well as in fashion pieces. Beyond engagement rings, Signet said amethyst and ruby are always popular stones for the Valentine's season. Solidcolours | Istock | Getty ImagesWholesale prices for sapphire gemstones are up 12% per year over the past three years, Daga said.
Persons: Craig Hastings, Ankur Daga, Daga, Jared, Kay, Signet, Beth Gerstein, Gerstein, Boonyakiat, Tourmalines Organizations: Industry, Signet, Getty, Istock, Rolex Locations: London, Madagascar, Angara, Kashmir, Sri Lanka, Zambia, Colombian
Sandra Mwayera wailed as her older brother slouched next to her in the back seat of a car — he had died from cholera as he waited for treatment among dozens of others outside a hospital in Zimbabwe’s capital, Harare. “My brother! My brother! Come back!”In neighboring Zambia, inside the 60,000-seat National Heroes Stadium in the capital, Lusaka, rows of gray cots lined rooms at a makeshift treatment center where 24-year-old Memory Musonda had died. Her family said they were not informed until four days later — the government buried her, and they have yet to locate her grave.
Persons: Sandra Mwayera wailed, slouched, , , Musonda, Musonda’s, Stanley Mwamba Kafula Organizations: Democratic Locations: Zimbabwe’s, Harare, , Zambia, Lusaka, Africa, Democratic Republic of Congo, Mozambique
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AI is paving the way to the future tooBill Gates-backed company KoBold Metals has used AI to discover a huge new copper mine. Chip Somodevilla/Getty ImagesAs well as seeing AI be used to excavate the past, it seems to be getting used to forge a path to the future too. Clearly then, billions of dollars aren't just being spent on AI for the sake of achieving some productivity and efficiency hacks. AI could also help usher humans into a new age of discovery.
Persons: , Nat Friedman, Bill Gates, Chip Somodevilla, Jeff Bezos, Josh Goldman reckons Organizations: Service, Business, KoBold Metals, KoBold, Democratic Locations: Rome, Egypt, Switzerland, Zambia, Democratic Republic of Congo
KoBold Metals, a California-based metals exploration company backed by billionaires including Bill Gates and Jeff Bezos, said that it has discovered a vast copper deposit in Zambia. A spokesperson for KoBold Metals told CNBC on Monday that the company believes its Mingomba copper project in Zambia "will be one of the world's biggest high-grade large copper mines." "It is Kakula-scale in size and grade," KoBold Metals President Josh Goldman said in a statement shared on the firm's social media site X. Ivanhoe Mines, a Canadian mining company founded by billionaire magnate Robert Friedland, owns nearly 40% of the Kamoa-Kakula copper mine. KoBold Metals says it uses artificial intelligence to create a "Google Maps" of the Earth's crust to help find new deposits of copper, lithium, cobalt and nickel.
Persons: Bill Gates, Jeff Bezos, Josh Goldman, Robert Friedland, Andreessen Horowitz, Ray Dalio, Virgin Group's Richard Branson, Alibaba's Jack Ma Organizations: KoBold Metals, CNBC, Democratic, Ivanhoe Mines, KoBold, BHP, Breakthrough Energy, Bridgewater Associates Locations: Victoria, Zambia, Zimbabwe, Livingstone, California, Democratic Republic of the Congo, Canadian, Norwegian
By Anthony Boadle and Ricardo BritoBRASILIA (Reuters) - Interpol should elect a new head from a developing nation to diversify the organisation and boost its credibility as crime becomes increasingly globalised, Brazil's candidate to head the international police agency, Valdecy Urquiza, told Reuters. This would help Interpol strengthen global cooperation to combat transnational crime, said Urquiza, currently Brazil's Federal Police Director for International Cooperation. Interpol's executive committee will elect a new secretary general Feb. 13 for a five-year term, succeeding its current head, Juergen Stock of Germany. The selected candidate will be put to Interpol's General Assembly in November. "Interpol cannot be used for geopolitical ends, so it is important that the secretary general comes from a neutral country, and Brazil has that.
Persons: Anthony Boadle, Ricardo Brito, Valdecy Urquiza, Urquiza, Britain's Stephen Kavanagh, Faisal Shahkar, Moscow, Brazil's, Ros Russell Organizations: Ricardo Brito BRASILIA, Reuters, Interpol, Federal Police, International Cooperation, Juergen, Germany, Police Services, Assembly Locations: Europe, United States, Nawa, Zambia, Pakistan, Lyon, France, Russia, Ukraine, Brazil
For Kevin Teng, CEO of Wrise Wealth Management Singapore, which serves ultra-high-net-worth individuals across Asia, the Middle East and Europe, three top stocks stand out as good plays right now. Of 52 analysts covering the stock, 48 give it a buy or overweight rating at an average price of $460.37, according to FactSet data. Barrick Gold Beyond tech and energy, Teng is also bullish on gold, naming Canadian miner Barrick Gold among his top picks. Spot gold prices are up around 7.5% over the last 12 months. Shares in Barrick Gold are down over 15% over the last 12 months.
Persons: Kevin Teng, Teng, Morgan Stanley, — CNBC's Jordan Novet, Fred Imbert Organizations: Big Tech, U.S . Federal, Wrise Wealth Management Singapore, Microsoft, Google, Apple, Nvidia, Tesla, CRM, CNBC Pro, ExxonMobil, Natural Resources, Exxon, Barrick, Barrick Gold Locations: Asia, East, Europe, West Texas, New Mexico, Guyana, Zambia, Pakistan
“We had a difficult start, conceding an early goal, but I told the players at half-time to keep playing the same way, not get confused,” Ivory Coast interim coach Emerse Fae told reporters after the match. “There was a lot of pressure before the match, and match day was too long for me,” he said. Former Ivory Coast coach Jean-Louis Gasset was remarkably sacked during the tournament after that 4-0 defeat to Equatorial Guinea, as the team stood on the brink of an early elimination on home soil. “We must not stop here; we must continue working, maintain this morale, and keep playing match by match,” the coach asserted. Ivory Coast will now play either Mali or Burkina Faso in the quarterfinals.
Persons: Charles Konan, , Emerse Fae, Fae, , Habib Diallo, Pierre Atcho, Edouard Mendy, Kenzo Tribouillard, Atcho, Franck Kessié, Senegal’s Moussa Niakhaté, Kessié, Jean, Louis Gasset, Morocco’s Organizations: CNN, Africa, of Nations, Ivory, Elephants, Senegal, Arsenal, Pepe, AFCON, Former Ivory Coast Locations: Senegal, Ivory, Egypt, Ivory Coast, Equatorial Guinea, AFP, Zambia, Mali, Burkina Faso
LUSAKA, Zambia (AP) — Authorities in Zambia said Tuesday they were frantically pumping water and mud from a Chinese-owned copper mine where seven miners were trapped underground. Local media reported that the miners were working at around 235 meters (257 yards) underground. Political Cartoons View All 253 ImagesLocal media reported that the miner who escaped, Penjani Kaumba, said he noticed water coming from a tunnel and immediately informed colleagues, but it was too late. Zambia is one of the world's largest copper producers, and Chinese firms have invested billions of dollars in mining there. Another mine accident in Zambia in November killed at least 11 people, with others missing.
Persons: Peacewell Mweemba, , Penjani Kaumba Organizations: , Associated Press, Local Locations: LUSAKA, Zambia, Ndola, Lusaka, Copperbelt Province
ALBUQUERQUE, N.M. (AP) — Regents at Western New Mexico University threw their support behind President Joseph Shepard on Friday as he faces scrutiny over spending on overseas trips and his wife’s use of a university credit card. He reiterated to regents that trips to Zambia and elsewhere have helped put Western New Mexico on the map and attract more foreign students. Other members of his leadership team ticked off statistics on enrollment, graduation rates among foreign students and fundraising that has boosted university programs. Regents agreed Friday to conduct a broad review that will include their handbook, travel policies and other procedures in the coming months. They also agreed to a proposal by Shepard to create an ad hoc committee that can work on updating policies.
Persons: Joseph Shepard, Shepard, WNMU, Shepard’s, Valerie Plame, , Organizations: , New Mexico University, Regents, Southwestern, Higher Education Department, CIA Locations: ALBUQUERQUE, N.M, Silver City, Zambia, Western New Mexico, Southwestern U.S, Mexico, Brazil, New Mexico
Namibia stuns Tunisia to secure first ever AFCON victory
  + stars: | 2024-01-17 | by ( Matias Grez | ) edition.cnn.com   time to read: +1 min
CNN —Namibia produced a historic upset to beat Tunisia 1-0 on Tuesday and record its first ever Africa Cup of Nations (AFCON) victory. Appearing in its fourth AFCON, Namibia had failed to win any of its previous nine finals matches, losing seven and drawing two. Tunisia, the 2004 AFCON champion, is the No. 2 seed Mali, with anything less than a victory likely plunging its qualification into doubt, while a buoyant Namibia faces South Africa. Wednesday’s Group E matches between Morocco and Tanzania and DR Congo and Zambia are the final two opening round fixtures to take place.
Persons: Deon Hotto, Mo Salah, Fadel Senna Organizations: CNN, Tunisia, Africa, of Nations, Ghana, Mozambique, Getty, Wednesday’s, DR Locations: Namibia, Tunisia, Ivory Coast, Cape Verde, Sunday, Egypt, Algeria, Cameroon, Nigeria, Mali, South Africa, AFP, Morocco, Tanzania, DR Congo, Zambia
William Cahill, 30William Cahill, an associate director at Aventuur. AventuurCahill was on a rowing trip on the Zambezi River in Zambia surrounded by crocodiles and hippos when he met his future boss. Cahill followed suit, leaving behind a job touching on mergers and acquisitions and data and analytics at the management-consulting firm L.E.K. Aventuur's parks allow paying customers to surf in wave pools with artificial beachfronts dotted by amenities such as restaurants and beach clubs. The systems Cahill creates make him indispensable to the growing recreational-real-estate sector.
Persons: William Cahill, Aventuur Cahill, Nicholas Edelman regaled, Cahill, Aventuur, — Zoe Rosenberg Organizations: Deutsche Bank, L.E.K, Consulting Locations: Zambia, London, Australia, New Zealand, North America, Dallas, Phoenix, Las Vegas, Jacksonville , Florida, Los Angeles, South Africa
LUSAKA, Zambia (AP) — A member of a rescue team raised hope Monday that there may be survivors at a Zambian mine where more than 30 informal miners have been trapped under debris for days and presumed dead after heavy rain caused landslides. Zambian government officials said more than 30 miners were trapped under the landslides but couldn't give an exact number. Police have said that all the miners are suspected to have died and named seven of them as confirmed fatalities. But no bodies have been retrieved and the Zambian government said it was premature to say how many had died. Informal mining is common, where artisanal miners dig in search of minerals, often without proper safety procedures.
Persons: Wiva Chanda, Raphael Chumupi, Mutale Nalumango, ” Nalumango, ___ Mukwazhi, ___ Organizations: Associated Press, Police Locations: LUSAKA, Zambia, Zambian, Chingola, ” Chingola, Lusaka, Harare, Zimbabwe
UAE's Masdar to develop 150 MW solar project in Angola
  + stars: | 2023-12-02 | by ( ) www.reuters.com   time to read: +1 min
DUBAI, Dec 2 (Reuters) - Abu Dhabi Future Energy Company, known as Masdar, is planning to develop a 150 megawatt solar power project in Angola to provide renewable energy to 90,000 homes and support economic growth, including jobs, the UAE state news agency WAM said on Saturday. Angola’s Ministry of Energy and Water and Masdar, the Gulf state's clean energy developer, signed a concession agreement to build and operate the ground-mounted solar power project in the Quipungo region of southern Angola, the statement said. The project is part of a wider commitment made by Masdar this year to develop 5 gigawatts (GW) of renewable energy projects across Angola, Uganda and Zambia. "Africa has what it takes to become the world’s renewable energy powerhouse," Sultan Al Jaber, COP28 president, said in the statement. Angola wants to increase its national electrification to around 60% by 2025; less than half of the population has access to electricity at present, the statement said.
Persons: WAM, Sultan Al Jaber, Rachna Uppal, Kevin Liffey Organizations: Abu Dhabi Future Energy Company, United, United Arab Emirates, Angola’s Ministry of Energy, Thomson Locations: DUBAI, Abu Dhabi, Angola, UAE, United Arab, Quipungo, Uganda, Zambia, Africa
It will see suspended payments repaid from 2027 to 2029 after a grace period from 2025 to 2026, the Paris Club said in a statement, noting that the deal was reached on Nov. 23. If Ethiopia does not get an IMF staff-level agreement by March 31, the official creditor committee "reserves the right to declare the suspension null and void", the Paris Club said. The Paris Club said 10 of its members were on Ethiopia's official creditor committee, which is co-chaired by France and non-Paris Club member China. Other non-Paris Club committee members are India, Kuwait, Poland, Saudi Arabia and Turkey. "We welcome the recent announcement of an interim standstill agreement with official creditors," the IMF spokesperson added.
Persons: Tellimer, Patrick Curran, Rachel Savage, Rodrigo Campos, Alex Richardson, Toby Chopra, Kirsten Donovan Organizations: International Monetary Fund, Paris Club, French Treasury, Ethiopian, IMF, Club, OCC, China, Thomson Locations: JOHANNESBURG, China, Addis Ababa, Tigray, Ethiopia, France, India, Kuwait, Poland, Saudi Arabia, Turkey
The Kaunda suit has become a choice attire for African celebrities, elders and politicians in recent years, including one particularly high-profile convert — Kenya’s president, William Ruto. A single-breasted safari jacket with short or long sleeves and patch pockets — often worn with matching pants — it was initially made popular in the 1960s by Kenneth Kaunda, the first post-colonial president of Zambia. But the Kaunda suit was banned from the Kenyan Parliament this week, along with other forms of traditional African dress and tightly-fitted clothing for women. The Kenyan speaker of Parliament decreed that such attire violates the parliamentary dress code — which largely conforms to a modern Western working wardrobe. A fashion trend like the Kaunda suit “does not accord with the seriousness of the proceedings of the house and its committees,” Moses Wetangula, the speaker of the Parliament, said in a speech on Tuesday.
Persons: Kaunda, , William Ruto, Kenneth Kaunda, , ” Moses Wetangula Organizations: Kenyan Locations: Zambia
The task force creation is the most significant step so far in showing that the global club of multilateral lenders, which between them have trillions of dollars worth of firepower, will significantly ramp up their support for these deals. Four sources involved in the plans, which are expected to be announced at the COP summit's 'finance day' on Monday, say the group will formally be called the "Task Force on Sustainability-linked Sovereign Financing for Nature and Climate". It will initially be chaired by the Inter-American Development Bank (IDB) and U.S. government's Development Finance Institution (DFC), said three of the sources with direct knowledge of the matter. Both lenders have been involved in all the recent swaps which have also included Barbados and Gabon. At their simplest, the swaps work by buying up a country's bonds, often at a discount, and then replacing them with cheaper eco-labelled ones that come with the special MDB guarantees.
Persons: Chico Mendes, Amanda Perobelli, MDBs, Marc Jones, Christina Fincher Organizations: Chico, Chico Mendes Institute for Biodiversity Conservation, Institute for, Environment, Resources, REUTERS, Reuters, Force, Sustainability, Nature, Inter, American Development Bank, government's Development Finance, World Bank, European Investment Bank, Development Bank, Asian Development Bank, ADB, Infrastructure Development Bank, Reuters Graphics, Conservancy, Thomson Locations: Pocone, Mato Grosso, Brazil, Belize, Barbados, Gabon, Beijing, U.S, Sri Lanka, Zambia, Kenya, Tanzania, Colombia, Ecuador
WASHINGTON (AP) — President Joe Biden is hosting Angolan President João Manuel Gonçalves Lourenço in the Oval Office on Thursday as he seeks to reaffirm his commitment to Africa even as two wars consume much of his administration's foreign policy focus. The visit comes as Biden appears set to break his commitment to African leaders to visit the continent this year — though senior U.S. officials have made key trips to Africa throughout 2023. This is a fundamental shift in Angolan foreign policy,” lobbyist Robert Kapla wrote in April to Biden confidant Amos Hochstein, according to lobbyist disclosure records. It's part of a global infrastructure program championed by Biden that is meant as a counterweight to China's Belt and Road initiative. Much of Biden's recent foreign policy focus has been on Russia's war in Ukraine and the fighting between Israel and Hamas.
Persons: Joe Biden, João Manuel Gonçalves Lourenço, Angola's, Biden, , John Kirby, Lourenço, Robert Kapla, Amos Hochstein, Kapla, Molly Phee, Organizations: WASHINGTON, Angolan, Security, Biden, U.S, Democratic Locations: Africa, United States, China, Russia, Angolan, Lobito, Kananga, Democratic Republic of Congo, Zambia, It's, Ukraine, Israel, U.S
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