R/€ = 16.07 Change: -0.06
R/$ = 13.65 Change: -0.13
Au 1280.70 $/oz Change: -0.10
Pt 923.50 $/oz Change: 0.00


Acacia seeks further clarification on Barrick’s agreement with Tanzania govt

By: Creamer Media Reporter      20th October 2017 LSE-listed Acacia Mining is seeking further clarification from its parent company Barrick Gold, which owns 63.9% of Acacia, regarding the agreement that was reached between Barrick and the government of Tanzania on Thursday to resolve a tax dispute. The government and Barrick in July started... 

Engie targets Africa with home solar acquisition

By: Reuters     20th October 2017 French gas utility Engie has bought a Ugandan home solar systems company to expand in sub-Saharan Africa by providing power to millions of people who have no access to electricity. Engie said on Thursday that it had acquired Fenix International, which sells home solar kits financed through tiny... 

Company expands African footprint to pursue major projects

By: Robyn Wilkinson     20th October 2017 Despite slowing economic growth, political challenges and associated declining investor confidence in many parts of Africa, global project management consultancy Turner & Townsend continues to strengthen its network on the continent as it pursues major projects in mining, oil and gas,... 

Shanta expects new strategy to bolster future quarters

By: Natasha Odendaal     19th October 2017 Aim-listed Shanta Gold expects to deliver a stronger operational and financial performance during the next few quarters as it shifts into a new strategy of improving profitability and reducing debt following legislative changes in Tanzania. The East Africa-focused gold producer, developer and... 

Barrick Gold to give Tanzania mines stake and $300m to end dispute

By: Reuters     19th October 2017 Barrick Gold will give Tanzania a 16% stake in three gold mines, a 50% share of revenues from those mines and a one-off payment of $300-million to resolve a dispute that has hit its operations in the country, the two sides said. The Canadian miner and the Tanzanian government have been in talks... 

Self-starters share secrets to success in the South African mining sector

By: Ilan Solomons     13th October 2017 There are many ways for entrepreneurs to enter the mining industry, including as project developers, service providers and product suppliers – all of which hold great opportunities and challenges, states mining investment advisory company MX Mining Capital Advisors director Dr Mike Seeger. The... 

BMG launches R400m World site facility in Gauteng 

     12th October 2017 Technical solutions provider BMG, which is part of Invicta Holdings, has officially launched its BMG World site, in Johannesburg last month. Mia Breytenbach tells us more. 

Acacia's gold production hit by Tanzania's export ban

By: Reuters     12th October 2017 London-listed gold miner Acacia Mining reported on Thursday a drop in production over the last three months, hit by work permit issues and reduced operations at its main Tanzanian mines. Acacia is caught up in a dispute with the Tanzanian government which banned the export of unprocessed minerals... 

Peak tweaks Ngualla economics

By: Esmarie Swanepoel     12th October 2017 Rare earths developer Peak Resources has refined the economics of its Ngualla project, in Tanzania, to include process optimisation studies and the latest rare earth pricing trends. Based on the latest rare earths prices, Peak has decreased the expected post tax net present value from the... 

Edenville secures five-year offtake agreement for Rukwa coal

By: Creamer Media Reporter      10th October 2017 Aim-listed Edenville Energy has signed a five-year coal offtake agreement with Kenya-based coal and commodities trader Riftcot. Under the terms of the agreement, Riftcot will buy up to 75% a year of coal produced at Edenville’s Rukwa project, in Tanzania, at a recognised commercial market price. 

Kariba South Extension Project reaches 85% completion milestone

     9th October 2017 The Kariba South Extension Project on the Zambezi River is 85% complete, and is on track for completion in March 2018, reports Hatch, the Owner’s Engineer on the massive project. This flagship infrastructure project was initiated by the Zimbabwe Power Company (ZPC) due to an acute power shortfall... 

Petra Diamonds warns of possible breach of lending covenants

By: Anine Kilian     9th October 2017 LSE-listed Petra Diamonds on Monday warned shareholders it was likely to breach lending covenants at the end of this year owing to labour disruptions at its South African mines and uncertainty around sales volumes from its Williamson mine, in Tanzania. The company last month said two earnings... 

Edenville starts washed coal production at Rukwa

By: Natasha Odendaal     9th October 2017 Aim-listed Edenville Energy has started producing washed coal for sale at its Rukwa coal project, in Tanzania. This followed the completion of the commissioning and testing of the wash plant, which started late in September. 

DA aims to ban unrecyclable plastic shopping bags in Western Cape

By: News24Wire      9th October 2017 The DA-led Western Cape government has been mandated to pass legislation to prohibit the sale and distribution of plastic shopping bags that aren’t 100% recyclable. This after a motion to this effect was passed at the DA’s Western Cape Congress on Saturday. 

Tanzanian President splits energy and mining in ministry shake-up

By: Reuters     9th October 2017 Tanzanian President John Magufuli split the energy and minerals ministry in two and appointed heads for the new ministries on Saturday, five months after sacking the previous minister. Two presidential committees had recommended the move to tighten supervision of natural resources in Tanzania,... 

Manufacturer strives to meet industry demands

By: Nica Schreuder     6th October 2017 With demand for pump efficiency prevalent in the past five to ten years, industrial equipment supplier Rand Transmission South Africa (SA) has changed and aligned its product range to meet market requirements and demands. Despite Rand Transmission South Africa’s products only accounting for... 

Pumps investment solidifies Mozambique sugar industry

By: Nica Schreuder     6th October 2017 South African pumps manufacturer and supplier Brehnor Pumps has commissioned two Ornel Floodlifter 1 200-mm-diameter pumps on the Xinavane sugar estate, in Mozambique, owned by agricultural and agroprocessing business company Tongaat Hulett. 

Trials on Kenya’s new standard-gauge railway network to start this month

By: John Muchira     6th October 2017 Kenya is gearing up to start transporting cargo on the country's new standard-gauge railway (SGR) network, signalling the beginning of a new era for East Africa’s freight logistics sector, which has been dominated by road hauliers. Cargo transport trial runs on the SGR network start at the end of... 

AB InBev completes $3.15bn Coca-Cola Beverages Africa transition

By: African News Agency      5th October 2017 The world’s largest brewer, Anheuser-Busch InBev (AB InBev) on Thursday announced that it has completed the transition of its 54.5% equity stake in Coca-Cola Beverages Africa (CCBA) for $3.15-billion after customary adjustments. This comes after AB InBev last year acquired SABMiller for... 

Strandline starts financing talks for $30m Tanzania mineral sands mine

By: Esmarie Swanepoel     5th October 2017 The Fungoni heavy mineral sands project, in Tanzania, has been priced at $30-million to develop into a two-million-tonne-a-year operation. ASX-listed Strandline Resources on Thursday reported that the definitive feasibility study (DFS) for the Fungoni project estimated that 302 300 t of saleable... 

Edenville expects washed coal production at Rukwa within a week

By: Schalk Burger     4th October 2017 Production of washed coal from the Rukwa coal project, in south-west Tanzania, is expected to start later this week, Aim-listed thermal coal company Edenville Energy announced on Wednesday. The company plans to produce 5 000 t of washed coal in October, and aims to ramp this up to at least 10 000... 

Hyatt to double its Africa presence, open six hotels by 2020

By: Reuters     3rd October 2017 Hyatt Hotels & Resorts will open six new hotels in Africa by 2020, the company said in a news release on Tuesday, underscoring the growth of business and international travel on the continent. The company will open its first hotels in Algeria, Cameroon, Ethiopia, and Senegal and open new hotels... 

Diamond stocks are crashing this year, but gem prices aren't

By: Bloomberg     2nd October 2017 It’s been a surprisingly ugly year for most diamond companies. Shares of small producers, mainly focused on mines in southern Africa and Canada, have tumbled more than 30 percent during the past year and each company seems to be embroiled in its own mess. 

Construction of Rukwa wash plant completed

By: Anine Kilian     29th September 2017 Construction of the wash plant at Aim-listed Edenville Energy’s Rukwa project, in Tanzania, has been completed.  The plant is undergoing final commissioning and testing, and is expected to start producing washed coal for sale next week. 

Offshore capital equipment markets come in handy amid ‘turmoil’ in domestic mining sector

By: Dylan Slater     29th September 2017 South African capital equipment manufacturers that are supplying offshore markets, and have survived the ongoing turmoil in the mining industry and the domestic economic environment, have showed resilience and bear testament to the lifeline provided by exporting products and not relying solely on... 

BMG invests R400m in Joburg distribution centre 

By: Mia Breytenbach     29th September 2017 Technical solutions provider BMG, which is part of Invicta Holdings, has officially launched its BMG World site, in Johannesburg, which is the culmination of a consolidation and supply chain re-engineering strategy that began nearly ten years ago. “The company’s R400-million investment to upgrade... 

Katoro submits Imweru mining licence application ahead of schedule

By: Anine Kilian     28th September 2017 Aim-listed gold development company Katoro Gold has submitted a mining licence application to Tanzania’s Ministry of Energy and Minerals for the Imweru project, the company announced on Thursday. Rapid progress on the Tanzania-based Imweru resource development programme, combined with the prior... 

Tanzania grants Petra authorisation to resume diamond exports, sales

By: Creamer Media Reporter      28th September 2017 The Tanzanian government has granted LSE-listed Petra Diamonds authorisation to resume the export and sales of diamonds from its Williamson mine. The miner and the government will now finalise details of the timing and process for the next diamond parcel to be exported to Petra’s marketing office... 

Financial collaboration across African borders enables Dutch construction group’s projects

     28th September 2017 Rand Merchant Bank (RMB) has successfully closed a new US$20million letter of credit and performance bond facility for BAM International, a wholly-owned subsidiary of the Royal BAM Group, the largest construction company in the Netherlands. The facility is required to facilitate BAM’s... 

Cell C appoints a COO

By: Creamer Media Reporter      26th September 2017 Mobile operator Cell C on Tuesday announced the appointment of former Telekom Networks Malawi CEO Douglas Craigie Stevenson as its new COO effective September 26. Craigie Stevenson, who holds an MBA from the University of the Free State and a Bachelor of Accounting Science (Honours) from the... 

Kibaran finds eco-friendly process at Epanko

By: Esmarie Swanepoel     26th September 2017 Graphite developer Kibaran Resources has produced battery-grade graphite at its Epanko project, in Tanzania, using a graphite purification method that is considered environmentally friendly. The ASX-listed company told shareholders this week that the new process used simple acids that were... 

WA gold miners warned of ASX suspension

By: Esmarie Swanepoel     26th September 2017 he Australian Securities Exchange (ASX) has warned that it could temporarily suspend the share trading of Western Australian gold producers if the state government’s plans to increase gold royalties were passed through Parliament. The Australian on Tuesday reported that the ASX would repeat the... 

Investors wary as Tanzania moves to assert more control over mines

By: Reuters     26th September 2017 New laws and a crackdown on mining firms in Tanzania has slowed fresh investment in what has long been seen as one of Africa's brightest mining prospects as companies assess the consequences of government efforts to claim a bigger slice of the pie. Takeover bids and exploration plans have been... 

African ports define development roadmap for 2018 and beyond

     22nd September 2017 Over 20 African ports authorities, terminal operators and Ministries of Transport convene in Durban, South Africa this October for strategic think-tank discussions around port optimisation and modernisation across the region.  The African Ports Evolution initiative sets the backdrop for the... 

Acacia repositions Buzwagi mine to produce only gold doré

By: Creamer Media Reporter      22nd September 2017 LSE-listed Acacia Mining will reposition its Buzwagi mine, in Tanzania, to produce only gold doré until the end of its life in 2020. This follows positive results from a processing trial that indicated that the mine should be able to achieve gold recoveries of about 85% through the additional use... 

Peak hopes for A$5.5m to advance Ngualla

By: Esmarie Swanepoel     19th September 2017 Rare earths developer Peak Resources was hoping to raise as much as A$5.5-million in a share placement and entitlement issue aimed at progressing work at its Ngualla project, in Tanzania. The company on Tuesday announced that it will raise some A$2.8-million through a share placement to... 

Kibo moves closer to concluding PPA, securing project financing for MCPP

By: Creamer Media Reporter      18th September 2017 Dual-listed Kibo Mining says it is near concluding a power purchase agreement (PPA), as well as securing project financing for its Mbeya coal-to-power project (MCPP) in Tanzania. A memorandum of understanding (MoU), as a precursor to a final PPA with Tanzania power utility Tanesco, has passed all... 

Petra’s FY17 profit down 69% y/y; company restarts Tanzania mine

By: Creamer Media Reporter      18th September 2017 The delayed ramp-up of expansion programmes, rising on-mine cash costs and a stronger rand have negatively impacted on LSE-listed Petra Diamonds’ financial results for the 2017 financial year, with net profit down 69% year-on-year to $20.7-million. Cash generated from operations was down 10%... 

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