Business

Kenya’s government in collaboration with the country’s Chamber of Mines has announced plans to host the second edition of the Kenya Mining Forum. Elodie Delagneau, Event Director of Kenya Mining Forum said the jamboree is slated for from 13-14 November in Nairobi. “We want to establish and consolidate Kenya’s position as a …

Vermiculite miner Black Mountain Resources has raised $1-million, with the funds to be immediately deployed to delivering operational improvements at its Namekara mine, in Uganda. The ASX-listed miner said the funds were raised through the placement of 25-million fully paid ordinary shares at $0.04 apiece to new cornerstone investor, Investmet. …

Gold miner Acacia Mining Plc recently announced that the company would meet the increased royalty rate of 6% imposed on metals such as gold, copper and silver under new Tanzanian natural resources legislation. The rate has been raised from 4% and is in addition to the recently imposed clearing fee …

Kibo Mining has signed a deal with Lafarge Tanzania subsidiary Mbeya Cement to develop regional collaboration and to allow for reciprocal supply of materials. The contract includes discussions with regional development partners to consent to socioeconomic and related development programmes and projects in the Mbeya and Songwe regions. The deal …

Konecranes has completed acquisition of Terex MHPS trading as Demag Cranes, Hoists, Material Handling and Ports Solutions. According to the company the acquisition will improve Konecranes’ position as a focused global leader in the industrial lifting and port solutions market, as the two crane brands share their considerable combined knowledge …

Auroch Minerals has advised that 1 589 623 629 new ordinary shares in Xtract Resources with a market value of $494 million has been issued to the company. This follows the conversion of $200 000 of the convertible note,  the establishment fee of $50 000 and interest payable in advance …

ASX-listed Danakali has announced that the Colluli Mining Share Company has entered into a mining agreement with the Eritrean Ministry of Energy and Mines. Colluli Mining Share Company is a 50:50 joint venture between Danakali  and the Eritrean National Mining Corporation and owns 100% of the world class Colluli potash …

Global pump manufacturer, KSB Pumps and Valves, has established an independent operation in Zambia. The new office is to ensure the company’s rapidly expanding customer base has full access to world-class sales and support services. A network of agencies and dealers throughout the country has previously been represented by the …

Vale Mozambique, a subsidiary of Brazilian group Vale, had an operating loss of US$105 million in 2016, a figure which compares with a loss of US$508 million in 2015, said the mining group as it published it accounts for the fourth quarter and 2016. The document said the improvement compared …

The mining ore export ban in Tanzania announced in March 2017 is unlikely to be implemented. This is the view of BMI Research. However, the company cautions that the proposal is another sign of growing governmental regulations that may limit future investment and growth in the mining sector. The Tanzanian …