News

Slow development of gas economy in South Africa may push investors into other investment addresses. Wayne Lindecke, engineering consultant WSP power generation director said developers may focus their attention on other parts of Africa or other parts of the world where similar opportunities exist if South Africa does not speed …

The international gold exchange-traded fund (ETF) market is suffering, owing to the poor performance of the gold price in 2013, the South Africa-based investment banking division of Barclays Africa exchange traded products head Vladimir Nedeljkovic said. He says, while gold ETFs in South Africa have remained static, as investors are keeping …

A Swedish firm that wanted to construct Africa’s largest wind power plant in southern Kenya, Malindi, at a cost of US$2.4bn has relocated the investment to Tanzania, citing frustration by Kenyan authorities. The firm’s executives said they have now switched their focus to Tanzania, which shares the Indian Ocean coastline. …

Walkabout Resources has commenced  commissioning activities at the Lindi Jumbo Graphite Mine in Tanzania. According to the company, the development is a step towards full operation and critical minerals producer status. In its latest announcement, the commissioning process includes pre-commissioning, dry commissioning and wet commissioning and this process has commenced for …

HIGHER pricing and an increase in volumes saw Tanzania’s earnings from gold exports rise 42% in the year to November; this is according to an online news source. Citing the east African country’s central bank, the newswire said gold exports rose to $2.14bn in the year to November from $1.51bn …

Armed with hoes and spades, hundreds of locals, some with babies strapped on their backs, have converged at Namwalala stream in Mawero East B Village following the reported discovery of gold deposits in the area about a week ago. Mr Twaha Tebayise, an artisan miner, who has since relocated from …

The government’s target to ensure that the sector’s contribution to gross domestic product (GDP) reaches ten percent by 2025, has seen them sign Framework Agreements worth $667 million (about Sh1.54 trillion) with three mining firms, in a landmark development that would see Tanzania surpassing its target of mining contributing at …

Multi-asset Africa focused, energy company – Kibo Energy has resubmitted the tender qualification document to the Tanzania Electricity Supply Company (TANESCO) for the Mbeya Coal to Power Project (MCPP). Louis “Given that much of the information within this 535-page document had already been generated, we just needed to ensure that …

Tanzania-based Imweru project developers Katoro Gold have completed the second second phase of the environmental- and social-impact assessment (Esia). Authorities acknowledged receipt of the scoping report and terms of reference for the execution of the final phase, being the detailed environmental-impact assessment. “Completion of phase two of the Esia represents …

The International Monetary Fund (IMF) has applauded steps taken to bring down inflation and stabilize the economy in Ethiopia. The initiatives include significant fiscal and monetary tightening by authorities in Ethiopia. “This has put in place a critical foundation for success of the Homegrown Economic Reform Agenda, which aims to …