Tanzania

Graphite exploration and development company Volt Resources Limited (VOLT) receives firm commitments to raise an additional $900,000 following their recently shared Share Purchase Plan (SPP). Volt raised $2.338 million, and has in thus received firm commitments to raise an additional $900,000 via a Top‐up placement from sophisticated and professional investors. …

Ethiopia has signed a mining agreement with Yara International for the development of Yara Dallol Potash Project. Located in the Afar region in Ethiopia’s north is expected to have production capacity of approximately 600,000 tonnes of  Sulphur of Potash (SOP) per year, equivalent to approximately 10% of the global market. …

Kibaran Resources’ Epanko project, in Tanzania, has flagged the potential trebling of planned battery-grade graphite production. Andrew Spinks, Managing Director recently told shareholders that the optimisation testwork had confirmed the positive results. Kibaran’s new purification process uses simple chemicals without the need for hydrofluoric acid. Spinks said development has potentially …

Mahenge graphite project developers Black Rock Mining is working on raising A$4.75-million to fund the project’s definitive feasibility study. According to the company, an initial A$4.2-million is to be raised through the placement of 70-million new fully paid ordinary shares, at 6c each to institutional and sophisticated investors. The placement …

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 …

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 …

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 …