AU URGES DE-ESCALATION AS FIGHTING DISPLACES OVER 180,000 IN SOUTH SUDAN’S JONGLEI STATE. (PHOTO).

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 AU urges de-escalation as fighting displaces over 180,000 in South Sudan’s Jonglei state The Chairperson of the African Union Commission called for immediate de-escalation and strict adherence to South Sudan’s 2018 peace agreement, as renewed fighting in Jonglei State displaced more than 180,000 people and raised fears of further civilian harm. In a statement, African Union Commission Chairperson Mahmoud Ali Youssouf said he was deeply concerned by the deteriorating security situation in parts of the country, particularly Jonglei, where escalating violence and inflammatory rhetoric have put civilians—including women and children—at heightened risk. South Sudanese authorities estimate the number of displaced in Jonglei at more than 180,000, the United Nations humanitarian agency OCHA said last week. He urged all parties to exercise maximum restraint, de-escalate tensions immediately, and comply fully with the permanent ceasefire and power-sharing arrangements under the agreement, T...
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U.S COMPANY SECURES $150M FUNDING FOR ZIMBABWE GOLD MINE. (PHOTO).

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 US company secures $150m funding for Zimbabwe gold mine


US mining company Caledonia Corporation said it raised $150 million via a seven-year convertible bond offering to fund its Bilboes project, which, once operational, will be Zimbabwe's largest gold mine.


Zimbabwe-focused Caledonia's debt issuance is the biggest international capital raising in over a decade for the country, which had been shunned by global investors due to economic and policy volatility.


Spot gold prices surged to more than $4,800 per ounce on Wednesday, driven by investors seeking havens who are backing miners like Caledonia to lift output.


In a statement on Wednesday, Caledonia - which operates the 80,000-ounce-per-year Blanket mine in Zimbabwe - said demand for the offering from U.S. institutional investors exceeded $600 million.


Assets


"Receiving more than $600 million of demand from high-quality North American investors is a tremendous endorsement of our strategy, the quality of our assets, our operational track record, and the long-term prospects of the company," Caledonia CEO Mark Learmonth said, Reuters reported.


Caledonia said the bond issue is part of a broader strategy it is pursuing to fund Bilboes, which is expected to start production in late 2028. The mine is expected to reach annual output of 200,000 ounces from 2029 for an initial period of 10 years.


The company is also arranging a $150 million funding facility with a consortium of Zimbabwean and South African banks and will also engage regional and global lenders for Bilboes financing.


The Bilboes project has an expected total cost of $584 million and peak funding requirements of $484 million.


Zimbabwe's gold output plunged to 3 metric tons during the height of its economic and political crisis in 2008. It has more than doubled production over the past decade to an all-time high of 47 metric tons in 2025.

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