Business

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 …

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 …