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Zimbabwe to allow two new companies to mine diamonds

5th December 2018 Zimbabwe will now allow two more private companies to explore and mine diamonds in the country, bringing to four the number of firms that will operate in the sector, mines minister Winston Chitando has said. Last week Chitando said the country did not plan to change its ownership rules for... 

Private sector contracts at slower pace in Nov – Standard Bank PMI

5th December 2018 South African private sector activity shrank again in November, albeit at a slower pace than the previous month, as firms cut inventories to their lowest level in more than four years, a survey showed on Wednesday. The Purchasing Managers' Index (PMI), compiled by IHS Markit, rose to 48.2 in... 

Vale to pump $500m into nickel mine, ends partner quest

4th December 2018 Brazilian miner Vale SA, the world's top nickel producer, wants to shore up its nickel business before the electric vehicle revolution, but lowered 2019 output forecasts for the metal, a key ingredient in lithium batteries. In presentation to investors in New York, Vale executives projected the... 

Serbia's mining sector could contribute 5% of national output by 2023

4th December 2018 Serbia's mining industry could expand to 5% of national output by 2023 if foreign investors keep commitments to plough millions of dollars into copper and lithium production, its Mining Minister said. The sector currently accounts for 1% of Serbia's gross domestic product. But since 2000, when a... 

Kenya starts construction of 83 MW geothermal plant

4th December 2018 Kenya has started building a geothermal power plant to add 83 MW of capacity to the national grid, the state-owned power generation utility said on Tuesday.  Geothermal power is Kenya's second largest source of electricity after hydroelectric power. The country has total installed power capacity... 

Oman's Raysut Cement eyes acquiring Kenya's ARM Cement – statement

4th December 2018 Oman's Raysut Cement said on Tuesday it plans to acquire Kenya's ARM Cement, which went into administration in August, as part of its expansion plans. Raysut has expressed its interest to the administrators to acquire the company, it said in a statement. 

South Africa emerges from recession as farming, manufacturing jump

4th December 2018 Farms and factories dragged South Africa out of its first recession in almost a decade, data showed on Tuesday, as the economy grew by more than expected in the third quarter. The positive data is a boost for President Cyril Ramaphosa, who has pledged to re-start growth after a decade of... 

The final frontier: who owns the oceans and their hidden treasures?

4th December 2018 Ransom-hungry pirates, polar explorers, offshore oil giants - the race for the riches of the world's final frontier is on. From Thailand to Alaska, the battle to tap ever-dwindling resources from minerals to fish is spurring new conflicts over who has the right to the treasures of the deep seas. 

Malaysia sets licence renewal conditions for rare earths miner Lynas

4th December 2018 Malaysia on Tuesday set conditions for future renewal for rare earths miner Lynas' licences to operate in the country, including the removal of radioactive residues. The Energy and Environment Ministry also said in a statement that Lynas must submit an action plan for non-radioactive waste... 

Equinor set to start talks with Tanzania over LNG project

4th December 2018 Norway's Equinor is ready to start talks with the Tanzanian government over developing a liquefied natural gas (LNG) project to produce a huge offshore discovery in the deepwater block 2, the company said on Tuesday. Tanzanian President John Magufuli asked his government to proceed with... 

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