Most sectors of the economy showed improvement, while the key mining industry shrank due to social conflicts.

The USDX and the precious metals market are like reverse images.

Gold-mining profitability last quarter was among the highest on record, and ought to improve further as this year marches on.

Definitive feasibility study for La India, which will provide a base for finance discussions, will come in the third quarter of the year.

The US is not opposed to China investing in Africa if the investments are centred on upholding human rights, democracy and jobs.

Declines in gold were, however, capped by a slide in the benchmark 10-year Treasury yields.

Increased prices for fossil fuels have shifted the conversation, potentially benefitting oil and gas projects in Africa as importers scramble to diversify supply chains away from Russia.

"We are in uncharted territory here," says CEO.