News

Tanzania wants to join the Persian Gulf states to become one of the world’s leading natural gas exporters. A Draft agreement between the government of Tanzania and international oil companies seeking to build a 30 billion US dollar liquefied natural gas (LNG) export project is now ready, a senior official has …

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 …

Power generation bids The bidding process for the power generation followed an expressions of interest phase which was completed in January. Tender documents have been received from a group of highly reputable power providers with extensive experience in both Africa and other developing jurisdictions. The bids were based on the …

BMI Research reports that the mining sector will continue to face headwinds from policy uncertainty regarding the passing of the draft mining charter. This will hinder the potential of a recovery in 2016 from becoming solid. BMI Research, (a unit of Fitch Group), forecasts the domestic mining industry value to …

Graphite developer Magnis Resources has been granted a Special Economic Zone (SEZ) licence for the development of an advanced graphite processing plant in Tanzania. Tanzania – The approval to operate within a SEZ in Tanzania will allow ASX-listed Magnis Resources to apply the advanced technologies it has been developing to …

Kibo Mining has agreed with Metal Tiger, its partner in Tanzania, to cease JV activities at the Pinewood and Morogoro projects immediately and relinquish the licences. Both Metal Tiger and Kibo Mining have experienced considerable success in respect of other projects of their business portfolios and this has led to …

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 …

Aim-listed Goldplat has, through its Gold Mineral Resources (GMR) subsidiary, entered into a $2-million uncommitted, on-demand, revolving pre-export loan facility with Scipion Active Trading Fund (SATF), arranged by Scipion Capital (Scipion). Goldplat is in the process of expanding the processing plant at its Kilimapesa gold mine, in Kenya, which to …

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 …