Business

By Steven Lumley, technical manager, WearCheck   Continuing the dialogue around oil additives with condition monitoring specialist company, WearCheck, this time the focus turns to friction modifiers. What are they? Organic fatty acids and amines, high-molecular-weight organic phosphorus and phosphoric acid esters What do they do? Alter coefficient of friction …

The Tanzanian President Samia Suluhu Hassan has appointed the country’s Ambassador to China, Khamis Mussa Omar, as the new Finance Minister following last month’s disputed election. Announcing the reshuffle in a televised address on 17 November 2025, she confirmed that Anthony Mavunde would remain as Mining Minister and Mahmoud Thabit …

AngloGold Ashanti, one of the world’s leading gold producers, delivered a robust financial and operational performance in the three months ended September 30, recording a 141% year-on-year surge in free cash flow (FCF) to a record $920-million. This massive increase was attributed to continued cost discipline, which allowed the company …

Uganda’s long-delayed US$4 billion oil refinery project has gained fresh momentum after the government signed new agreements with UAE-based Alpha MBM Investments, marking a decisive push toward the long-awaited Final Investment Decision (FID) in July 2026. The partnership, led by Sheikh Mohammed bin Maktoum bin Juma Al Maktoum, will see …

The President of Mozambique, Daniel Francisco Chapo reaffirmed his country’s commitment to deepening cooperation with Tanzania during the inauguration of President Samia Suluhu Hassan in Dodoma. Attending as Guest of Honour, Chapo highlighted the enduring friendship and shared history between the two nations, rooted in the liberation struggle and long-standing …

Russia’s state-owned nuclear corporation, Rosatom, is moving forward with plans to construct a nuclear power plant in Ethiopia, signaling a major expansion of Moscow’s energy footprint in East Africa. The commitment was formalized during a recent nuclear power forum, where an action plan for the facility’s development and construction was …

Aim-listed Kefi Copper and Gold expects a $240-million debt capital offering towards its Tulu Kapi project, in Ethiopia, to be signed this week. The financing had been put on hold following a procedural matter that had to be addressed by one syndicate party, which has now been resolved. Kefi says …

Scandinavia-based but Ethiopia-focused gold producer Akobo Minerals’ total doré gold production for the third quarter reached about 21.5 kg, while the company achieved its first positive earnings before interest, taxes, depreciation and amortisation. Doré gold production for September was about 6.5 kg, exceeding the monthly target of 5 kg. Cumulative …

Scandinavian gold producer Akobo Minerals is accelerating development at its Segele mine in Ethiopia, reporting significant progress and signaling an imminent shift to positive cash flow. For the second quarter of the year, the company posted revenues of SKr9.6-million, and it anticipates this figure to increase in the third quarter, …

Dar es Salaam, Tanzania – Tanzania is moving closer to an agreement on the terms for its long-stalled $42 billion liquefied natural gas (LNG) project at Likong’o in Lindi, with a final deal anticipated before the end of 2025. The massive project, under negotiation for over a decade, is intended …