R/€ = 14.77 Change: 0.00
R/$ = 11.97 Change: -0.01
Au 1342.20 $/oz Change: -10.59
Pt 935.00 $/oz Change: -15.81


Smuggling shenanigans of jumbo proportions

By: Martin Zhuwakinyu     Updated 6 hours ago It must have been music to the ears of animal rights proponents and conservationists when the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) reported in October last year that significant gains had been made in the fight against elephant poaching on the... 

Coral South floating liquefied natural gas project, Mozambique

By: Sheila Barradas     Updated 6 hours ago Coral FLNG SA plans to develop five-trillion cubic feet of gas in the deep waters of the Rovuma basin. 

Shanta reports lower Q1 gold production

By: Simone Liedtke     19th April 2018 Aim-listed Shanta Gold remains on track to achieve its guidance of 82 000 oz to 88 000 oz in 2018 at an all-in sustaining cost (AISC) of between $680/oz and $730/oz, despite the New Luika gold mine, in south-west Tanzania, reporting lower production. Production in the March quarter reduced to 17... 

Acacia reports lower Q1 adjusted net earnings, but maintains FY production target

By: Marleny Arnoldi     19th April 2018 Tanzanian gold miner Acacia Mining reported adjusted net earnings of $7-million for the quarter ended March 31, which is 73% lower than the $26.8-million adjusted net earnings reported for the first quarter of 2017.  

Tanzania names chairperson for new mining commission

By: Reuters     19th April 2018 Tanzanian President John Magufuli on Wednesday appointed a chairperson and commissioners for the country's new mining commission, paving the way for the issuance of new mining licences. Africa's fourth-largest gold producer is seeking a bigger slice of the pie from its vast mineral resources by... 

Orion appoints mining engineer as nonexecutive director

By: Creamer Media Reporter      18th April 2018 ASX- and JSE-listed Orion Minerals, which is developing the Prieska base metals project in South Africa’s Northern Cape, has appointed Michael Hulmes as nonexecutive director. Hulmes is a mining engineer with over 30 years’ senior executive, management 

Mining regulation changes in sub-Saharan Africa will continue to fuel uncertainty – BMI

By: Simone Liedtke     16th April 2018 Changes to the mining regulations in various markets across sub-Saharan Africa will continue to fuel uncertainty among investors and pose downside risks to forecasts in the region, says market researcher BMI Research. Internal political and economic considerations, as well as a more favourable... 

AngloGold’s Venkat resigns to take top job at Vedanta Resources

By: Marleny Arnoldi     16th April 2018 Srinivasan Venkatakrishan (Venkat) will step down as CEO of gold miner AngloGold Ashanti on August 31 to take up the CEO position at diversified miner Vedanta Resources.  

New Zimbabwe luxury boutique hotel to welcome guests from early 2019

By: Simone Liedtke     12th April 2018 Victoria Falls, in Zimbabwe, will soon boast a new luxury boutique hotel catering for a variety of guests to the region’s famous world heritage site. From early 2019, the new 199 all-suite Mbano Manor Hotel will offer a unique and nature-based travel experience for the global, high-end tourist,... 

Mining in sub-Saharan Africa region to remain riskiest globally – BMI

By: Simone Liedtke     11th April 2018 Sub-Saharan Africa’s mining sector will remain the riskiest in the world over the coming quarters as regulatory uncertainty rises in various markets across the region, says BMI Research. In addition to increasing regulatory uncertainty, the region will also witness challenges stemming from... 

Kibo to raise cash for expedited Botswana coal-to-power study

By: Creamer Media Reporter      10th April 2018 Aim-listed energy and resource company Kibo Mining said on Tuesday that it would raise capital to expedite its feasibility study for its coal-to-power project in Botswana and also announced changes to its board and management. Kibo said that it had received commitments to raise £1.5-million by... 

Petra Diamonds secures new debt agreements with lenders

By: Reuters     10th April 2018 Petra Diamonds said on Tuesday that it has finalised an agreement with its lenders for a waiver of its December 2017 debt covenant and a resetting of debt agreements for this year. The London-listed miner started talks with its banks earlier this year after the confiscation of a consignment of... 

Acacia delivers solid Q1 production despite reduced operations

By: Simone Liedtke     10th April 2018 Tanzanian gold miner Acacia Mining achieved a resilient operating performance and delivered solid production of 120 981 oz of gold in the first quarter of the year, which sets it in good stead to deliver against its full-year guidance of between 435 000 oz and 475 000 oz, says Acacia interim CEO... 

Vodacom Tanzania picks Safaricom executive as its new managing director

By: Reuters     10th April 2018 Vodacom Tanzania on Monday named Safaricom's head of consumer business as its new managing director to lead the company that listed in Dar es Salaam last year amid government efforts to expand local ownership of the industry. Sylvia Mulinge, who has been at Safaricom since 2006, will take over on... 

Latest drilling results show potential to upgrade Singida economics

By: Anine Kilian     9th April 2018 East Africa-focused Shanta Gold has reported positive reverse circulation (RC) drilling results at its Singida project, in Tanzania.  Encouraging mineralised drilling intersections achieved include 10 m at 20.82 g/t of gold from 138 m, including 3 m at 57.13 g/t. 

Nigeria: Africa’s prime power development hotspot

     9th April 2018 Nigeria offers a wealth of power sector business opportunities, with industrialists actively seeking generation and distribution solutions to power their business growth. Paul Runge, Director Projects & Development Finance at research and consulting specialists Africa House, reports that his... 

Commissioning under way on Kenya’s new multipurpose pipeline

By: John Muchira     6th April 2018 Kenya was last week set to commission a multipurpose pipeline from the coastal city of Mombasa to the capital, Nairobi, in a major milestone in its quest to enhance efficiency in the transport of petroleum products. Construction of the $470-million pipeline, implemented by the Kenya Pipeline... 

Free trade deal is much ado about nothing

By: Riaan de Lange     6th April 2018 It is the eightieth day of the year as I sit down to write this piece – the first full day of the sign of Aries. In case you are wondering, there are 285 days until the end of the year, and, in another 65 days, it will be Tax Freedom Day. It means that you will need to work up to May 25 to pay... 

New study to assess electrification of Rwanda, Tanzania rail project

By: John Muchira     6th April 2018 Tanzania and Rwanda face the daunting tasking of mobilising funding for a standard-gauge railway (SGR) line connecting the two countries, following a decision to review the project's design so that electric, rather than diesel-powered, trains run on the line. The initial project cost was... 

Kibo, Tanesco to meet next week on PPA for MCPP

By: Simone Liedtke     5th April 2018 The Tanzania Electric Supply Company (Tanesco) will convene a work session for the power purchase agreement (PPA) task team for Kibo Mining’s Mbeya coal-to-power project (MCPP) on April 10. Representatives from Kibo and Tanesco will attend the session, which is aimed at finalising work on the... 

Nigeria: Africa’s prime power development hotspot

     5th April 2018 Nigeria offers a wealth of power sector business opportunities, with industrialists actively seeking generation and distribution solutions to power their business growth. Paul Runge, Director Projects & Development Finance at research and consulting specialists Africa House, reports that his... 

Kibo Mining’s acquisition of 85% stake in Botswana project completed

By: Marleny Arnoldi     3rd April 2018 Multi-asset Africa-focused energy and resources company Kibo Mining has completed the acquisition of an 85% interest in the Mabesekwa Coal Independent Power Project (MCIPP), in Botswana, from Sechaba Natural Resources.  

Gas seen playing key role in Africa’s decentralised power landscape

By: Schalk Burger     30th March 2018 Africa is aiming to raise its installed power generation capacity by 250 GW by 2030. Liquefied natural gas (LNG) can serve as a baseload energy source and gas-powered generation assets can be built modularly and scaled up as use increases, says modular infrastructure, engineering services and gas... 

EIB pumps $25m into off-grid solar project

By: Marleny Arnoldi     28th March 2018 The European Investment Bank (EIB) has provided $25-million in financing for off-grid solar lighting company d.light to strengthen access to energy in Africa.  

Mercury Rising: Gold mining takes a toxic toll on Kenyan women

By: Reuters     28th March 2018 Scorching sun beats down on half a dozen women as they carry large sacks of crushed ore on their backs at the Osiri-Matanda gold mine near Kenya's border with Tanzania. On wooden tables, they sieve the powdered ore into metal pans, add mercury, and heat the mixture over a charcoal fire. The air... 

Increasing mining services in Africa key to industry's long-term sustainability

By: Anine Kilian     27th March 2018 Increasing the demand for mining goods and services is necessary to grow this industry in Africa, Southern African Development Community (SADC) industrialisation adviser Seth Akweshie said on Tuesday. Most inland developments in Africa have been established owing to nearby mining activities, he... 

Black Rock signs up with Tanzania Investment Centre to streamline Mahenge development

By: Esmarie Swanepoel     27th March 2018 Junior graphite developer Black Rock Mining has registered with the Tanzanian Investment Center (TIC), which will assist in accelerating the development of the Mahenge graphite project. The registration, which follows a government due diligence, will see a streamlining of project permits,... 

Volt lodges $40m prospectus in Tanzania

By: Esmarie Swanepoel     27th March 2018 Flake graphite developer Volt Resources has lodged a prospectus for a $40-million note issue in Tanzania. The company is undertaking the note issue in partnership with specialist investment bank Exotix Capital, and would use the funds raised for the Stage 1 development of the Bunyu graphite... 

Barrick Gold cuts 2017 compensation for top two executives

By: Reuters     24th March 2018 Barrick Gold, the world's largest producer of bullion, cut the 2017 compensation for its top two executives to reflect a challenging "shareholder experience" and operations at some mines. Shares in the Canadian miner declined 15% last year, even as the price of gold gained 11%. In 2017 Barrick... 

Radebe to address power roundtable in April

     23rd March 2018 South Africa’s power sector has again entered a period of uncertainty after a planned signing ceremony for 27 independent power producers (IPPs) failed to materialise on March 13, following a legal challenge by the National Union of Metalworkers of South Africa. The court case, planned for March... 

Remembering Julius Nyerere

By: Martin Zhuwakinyu     23rd March 2018 It took the threat of impeachment proceedings by his own party to get Jacob Zuma, decidedly the most inept – and venal – President South Africa has ever had, to vacate the Union Buildings on Valentine’s Day. Just under three months earlier, the ruling Zanu-PF party in neighbouring Zimbabwe had... 

As commodities roar, Africa wants bigger slice of mining pie

By: Bloomberg     22nd March 2018 One by one, the biggest names in African mining are getting squeezed. The tactics might be blunt, but the message is clear: the countries where they operate want a bigger share of the proceeds. The collapse in commodities through 2015 hobbled some of Africa’s biggest resource economies, stunting... 

First Quantum steadies as CEO hopeful of escaping giant tax bill 

By: Bloomberg     21st March 2018 First Quantum Minerals recovered from what was shaping up to be its worst two-day drop in two years as its chief executive officer said he’s hoping to talk his way out of a $7.9-billion tax bill in Zambia - which includes $5.7-billion in interest. First Quantum received a letter from the Zambia... 

Katoro suspends Imweru feasibility work as it assesses project’s economic viability

By: Anine Kilian     20th March 2018 Aim-listed Katoro Gold is assessing the economic viability of its Tanzania-based Imweru gold project, based on the results of a prefeasibility study and the new mining legislation and regulations being implemented in Tanzania.   The company said in a statement on Tuesday that an integral part of... 

Tanzania says AB InBev to build $100m plant

By: Reuters     20th March 2018 AB InBev, which owns a majority stake in Tanzania Breweries Limited, the country's biggest brewer, will invest $100-million in a new beer plant in the administrative capital Dodoma, the president's office announced. President John Magufuli on Monday chaired a day-long meeting with major foreign... 

PEWA to set stage for African energy investment once again

By: Marleny Arnoldi     16th March 2018 With 600-million people in Africa not having access to electricity, the onus is on Power & Electricity World Africa (PEWA) to provide the platform that will encourage investment in infrastructure and grid connection across Africa.  

Kazungula Bridge set to open corridor between Zambia, Botswana

By: African News Agency      14th March 2018 The Kazungula Bridge project is set to open up the transport corridor between Zambia and Botswana, a move which will see Zimbabwe lose out on transit revenue. The project is being carried out with partial financial assistance from the African Development Bank (AfDB). The primary objective of the... 

Engen partnership proves the power of support for emerging black entrepreneurs

     14th March 2018 Unseating his prime competitor to become South Africa’s number one LPG market leader makes Easigas-Reatile Gaz chairman Simphiwe Mehlomakulu extremely proud.   But arguably more proud are his partners at Engen, who Mehlomakulu credits with helping position his black-owned and managed company as a... 

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