News

Tanzania has granted Kibo Mining an environmental and social-impact assessment (Esia) certificate for its Mbeya coal and power generation project. According to the company, the certificate takes the project a step closer to construction. “The endorsement of the MCPP as a consequence of the Esia certification cannot be underestimated – …

Acacia Mine developers Barrick Gold Corp has announced intention to work Tanzanian authorities to find an amicably solution to the gold export ban. The company aims to conclude the negotiations to lift the ban during the first half of 2018. Barrick has reached a framework deal to end the months-long …

The amphibious, multipurpose Watermaster dredger is gaining growing interest from the Southern African mining industry. “Because of the interest from the African mining industry in the Watermaster, we expect to expand further on the continent as this market develops,” says Vuokko Laurila, Regional Manager for Watermaster in Southern Africa. Watermaster …

Volt Resources has appointed international investment banking firm Exotic capital to raise US$30 million for its Bunyu Graphite Project in Tanzania, moving towards production by year-end 2018. Exotix Capital is to undertake a Tanzanian bond issue to raise equity of up to US$30 million in structured debt, to fund the …

Strandline Resources’ definitive feasibility study on Fungoni Heavy Mineral Sands in Tanzania has delivered positive results. According to the company the DFS confirms the project will deliver strong financial returns. The results indicate that the project is a high unit value product suite, is capital-efficient, and demonstrates the strategic potential …

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 …

Shanta Gold’s new strategy is expected to improve profitability and reduce debt, following legislative changes in Tanzania. The move is to deliver a stronger operational and financial performance during the next few quarters for the company. “Shanta’s new strategy of focusing closely on cost control, operational improvements and shareholder returns …

Tanzania’s Ngualla project developers Peak Resources have polished finances presentation of the project to include process optimisation studies and the latest rare earth pricing trends. Peak has decreased the expected post tax net present value from the $633-million considered in the April bankable feasibility study (BFS) to $612-million, while the …

Acacia Mining has reported a drop in production over the last three months. The company has attributed the development to work permit issues and reduced operations at its main Tanzanian mines. However, Investec analyst are optimistic that Acacia will meet its full-year production target as output for the year is …