$1bn fund to map Africa's mineral resources.

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The World Bank intends to launch a $1bn fund in July to map the mineral resources of Africa, using satellites and airborne surveys to fill geological gaps across the continent where a lack of adequate data hampers mining investments.

It has committed $200m to the five-year fund, and has been meeting with mining companies and governments from Africa who have expressed interest, including Rio Tinto and Ivanhoe Mines.

Initially targeting southern and eastern Africa, the fund would aim to collate existing data onto a single, digital platform that would be accessible to the public. Besides helping to guide exploration investment, African governments could benefit by being able to negotiate better deals when handing concessions to mining companies. When Mozambique, for...

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