Business

Bell Equipment has signed an agreement with global excavator specialist – Kobelco Construction Machinery Co. Ltd (Kobelco), for exclusive distribution and support of the company’s excavators in the Southern African region. Stephen Jones, Bell Equipment Group Marketing Director said the partnership should provide both companies with the stability needed to …

Barrick Gold has agreed to sell a 16% stake in three mines in Tanzania to the government. The company also agreed to share 50% of the revenues from the mines. Barrick’s chairman John Thornton made the announcement at a news conference at State House Dar-es-Salaam on Thursday after a meeting …

Organisers of Africa’s biggest mining jamboree – Mining Indaba have promised a big and better event in 2018. The event’s new organisers – Euromoney said all stakeholders in the sector have been engaged, returning the event to a deal making forum. Alex Grose, Managing Director for Mining Indaba said new …

Base Resources has reported a 29% increase in the mineral resource at its Kwale South Dune deposit, in Kenya. The Kwale South Dune deposit resource increase is attributed to the discovery of additional contiguous resource extensions to the south of the project. The mineral sands miner also said there was …

Africa focused mineral exploration company – East Africa Metals has signed a finance deal with Hong Kong-based Luck Winner. Luck Winner Investment Limited will provide development financing to the tune of US$250 million to be used for development of projects in Ethiopia. The deal also includes a private placement for …

Kibo Mining has almost concluded securing project financing for its Mbeya coal-to-power project (MCPP) in Tanzania. The development comes at the backdrop of ongoing power purchase agreement negotiations with Tanzania power utility Tanesco. The company has passed all the relevant legislative stages and is awaiting final confirmation from Tanzania’s Attorney …

Tanzanian focused flake graphite development company Volt Resources Limited has changed the name of its operating subsidiary in Tanzania to Volt Graphite Tanzania Limited (VGT) from Nachi Resources Limited. According to the company, the decision was made to ensure a clear relationship between VGT and its parent company Volt and …

Shoreline Energy Limited parent company of Gasland Company Ltd. and Shell Petroleum Development Company of Nigeria Limited (SPDC) have signed an agreement to explore opportunities to buy, market, distribute and sell natural gas to consumers and companies in the Victoria Island, Ikoyi, Lekki, and Epe areas of Lagos. “The partnership …

Australian miner, Walkabout Resources has submitted a mining licence application for the Lindi Jumbo Project in Tanzania. This comes amid a moratorium on awarding of mining licences and special mining licences, recently put in force by John Magufuli’s government. Trevor Benson, Walkabout Resources Executive Chairman said the application has been …

International diamond company De Beers Group has announced plans to invest more than US$140 million in marketing this year. The budget is the biggest spend since 2008, as the group focus on generating further consumer demand for diamond jewellery in the leading markets globally. The greatest spend is targeted in …