R/€ = 15.90 Change: -0.01
R/$ = 14.08 Change: 0.00
Au 1320.93 $/oz Change: 5.93
Pt 805.07 $/oz Change: 17.61


Nevada like Witwatersrand of 1970s – Bristow 

By: Martin Creamer     15th February 2019 Nevada is like the Witwatersrand of the 1970s, says new Barrick Gold president and CEO Dr Mark Bristow, whose Randgold Resources is now merged into Barrick to form the world’s biggest gold mining company, which is also an extractor of copper, a metal that Bristow sees as “another gold”. The brand... 

Tanzania hydropower dam to cost more than double government estimate – study

By: Reuters     15th February 2019 Tanzania's Stiegler's Gorge Dam, due to be built on a Unesco World Heritage site, will cost more than double the government's estimates, an independent study showed on Thursday. In December, Tanzania signed a deal with two Egyptian companies, El Sewedy Electric Co and Arab Contractors, to build... 

Fraud in telecoms can be tackled using technology

By: Natasha Odendaal     15th February 2019   Smart technology can help regulate the telecommunications sector, eradicate the possibility of fraud and bolster revenue, Global Voice Group (GVG) says. 

Kibo, Edenville’s shares knocked by Tanesco bid rejection

By: Marleny Arnoldi     14th February 2019 The share prices of Kibo Energy and Edenville Energy took a knock on Thursday after the companies announced that they had not qualified to participate in the next stage of a bidding process by the Tanzania Electricity Supply Company (Tanesco) to develop coal power projects with a total capacity... 

Total Announces Ground-breaking Oil Discovery 175km Off the Southern Coast of South Africa

By: Creamer Media Reporter      13th February 2019 The recent gas condensate discovery by Total South Africa, 175km off the southern coast of South Africa, has set the stage for a significant contribution to the nation’s economic development as it will assist in reducing dependency on imports of oil and gas, notwithstanding the considerable... 

Katoro issues shares to settle fees, creates option for management

By: Nadine James     8th February 2019 Aim-listed Tanzania-focused gold exploration company Katoro Gold on Friday announced the issue of options to its board of directors and the company’s management, as well as the settlement of certain fees through the issue of new ordinary shares. The board has resolved to issue 14.94-million new... 

€120m funding for rehabilitation of Malawi’s longest road

By: Marcel Chimwala     8th February 2019 The European Union has agreed to €120-million for rehabilitation of stretches of the M1 road in Malawi, the longest in the country, which runs from the northern to the southern borders. The funds comprise a €80-million loan and a €40-million grant, which the European Investment Bank will make... 

SA passport among Africa’s ‘strongest’

By: Martin Zhuwakinyu     1st February 2019 A couple of weeks back, I mentioned in this couple that the African Union will this month be providing details of its plans to launch a pan-African passport as part of its efforts to improve the free movement of people on the continent. The benefits of such a move will be immense; they will... 

Petra delivers solid H1 output, says diamond market outlook remains stable 

By: Simone Liedtke     28th January 2019 LSE-listed Petra Diamonds delivered solid production, along with a “continued improvement” in its safety performance, in the first half of the 2019 financial year. CEO Johan Dippenaar on Monday said the mining company, which operates the Cullinan, Finsch and Koffiefontein mines, in South Africa,... 

Barrick CEO on Zambia tax dispute: Threats don't solve problems

By: Bloomberg     25th January 2019 Barrick Gold’s new CEO, Mark Bristow, said his company is seeking solutions to a dispute over mining taxes in Zambia. “We’re engaged with the government in a constructive way,” he told reporters at a press conference in the Ivory Coast’s economic capital, Abidjan. “We don’t believe that... 

Expanded products portfolio leads to new opportunities

By: Cameron Mackay     25th January 2019 New markets and opportunities have arisen after technical solutions provider BMG expanded its products portfolio with the addition of Fenner conveyor belting products last year. “BMG decided to sign a long-term agreement in 2018 with polyvinyl chloride (PVC) solid woven conveyor belting products... 

UCT researchers selected for research hubs to address global challenges

By: Sashnee Moodley     24th January 2019 Funding agency United Kingdom Research and Innovation (UKRI) and the Global Challenges Research Fund (GCRF) have selected University of Cape Town (UCT) researchers to establish research hubs at UK universities, to tackle some of the development challenges facing the world. The hubs offer five... 

Vodacom’s strong international operations offset South Africa’s lagging performance 

By: Natasha Odendaal     24th January 2019 JSE-listed Vodacom’s international operations have boosted the group’s financial performance in the quarter ended December 31, 2018, after a dip in the South African operations. The group’s revenue was up 1.5% to R23-billion and service revenue increased by 2.4% to R18.9-billion, while group data... 

Tanzania to cancel licenses for undeveloped mineral sites

By: Bloomberg     23rd January 2019 Tanzania intends to cancel permits for mineral sites belonging to large-scale miners that remain undeveloped and will allocate the licences to smallholders, President John Magufuli said. The announcement comes amid a tax dispute between the state and Acacia Mining, in which the government is... 

Cape Town’s WhereIsMyTransport expands to Latin America, India

By: Irma Venter     22nd January 2019 Public transport data and technology company WhereIsMyTransport has raised $1.85-million in funding from Liil Ventures and Goodwell Investments, as part of its Series A funding round. The funding will support the company’s expansion into Latin America and India. 

Wine export values rise despite drought, lower volumes

By: Marleny Arnoldi     22nd January 2019 Despite 2018 being a challenging year for the wine industry, with a low-yielding harvest owing to the regional drought, the Wines of South Africa (WoSA) Export Report has found positive growth in the overall value of exports. The 4% increase in the value of exports to R9.06-billion reflected... 

Jervois to acquire M2 Cobalt to propel its East African ambitions

By: Marleny Arnoldi     22nd January 2019 ASX-listed Jervois Mining will acquire TSX-V-listed M2 Cobalt as it seeks to gain a foothold in East Africa. Under the terms of the agreement, each common share of M2 will be exchanged for one common share of Jervois. This represents an implied offer price of C$0.262 apiece, based on the closing... 

SEW-EURODRIVE gear units used in OEM projects

By: Khutso Maphatsoe     18th January 2019 Local original-equipment manufacturer (OEM) Wamechsi Group uses products from automation and drive specialist SEW-EURODRIVE South Africa for a range of wastewater treatment plants it has built in the country. This standardization is largely owing to the quality and reliability of the German... 

Gold drilling demand ensures solid revenue, contracts for Capital Drilling

By: Marleny Arnoldi     17th January 2019 LSE-listed Capital Drilling exceeded the top end of its revenue guidance of $105-million to $115-million for 2018, on the back of a strong performance at its West African contracts. It earned $116-million in revenue.  

Shanta Gold sets numerous mining, milling records in 2018

By: Marleny Arnoldi     17th January 2019 Aim-listed Shanta Gold produced 23 942 oz of gold from its New Luika mine, in Tanzania, in the fourth quarter last year – a 21% increase compared with the third quarter. Production was achieved at a cash cost of $514/oz and an all-in sustaining cost (AISC) of $701/oz.  

Commodity-Wide Success For Kwatani Screens

15th January 2019 The recent orders won by vibrating screen and feeder specialist Kwatani have cemented its reputation as the leading South African original equipment supplier (OEM) with a truly cross-commodity footprint. Kwatani’s custom engineered products are now in some of the world’s largest mines, and many... 

Edenville acquires second excavator to boost mining output at Rukwa

By: Marleny Arnoldi     14th January 2019 Aim-listed Edenville Energy has acquired a second excavator to increase the amount of mined material from its Rukwa coal-to-power project, in Tanzania. The company secured a $750 000 loan during the last few weeks of 2018, which has been used to fund the acquisition of the second excavator and... 

Armadale sells Mpokoto project to African Royalty

By: Marleny Arnoldi     11th January 2019 Aim-listed Armadale Capital has entered into a final formal agreement with African Royalty Company, which intends to acquire the Mpokoto gold project in the Democratic Republic of Congo (DRC). The agreement crystallises the value of the project, with a company capable of obtaining the funding... 

Acacia’s North Mara fined $130 000 for alleged environmental transgressions

By: Simone Liedtke     10th January 2019 London-listed Acacia Mining’s North Mara gold mine, in Tanzania, has received an environmental protection order (EPO) requiring the payment of a fine of $130 000, or TSh300-million. The EPO was issued in relation to alleged breaches of environmental regulations. 

Tanzania's Magufuli wants central bank to buy gold as part of its reserves

By: Reuters     10th January 2019 Tanzanian President John Magufuli said on Wednesday the central bank should start buying the country's gold to curb smuggling and build reserves to stabilise the currency. On Tuesday, Tanzania named its third mining minister since Magufuli was elected in 2015. The mining sector contributes around... 

Uganda aims to pick bidder to build, operate highway by end-2019

By: Reuters     9th January 2019 Uganda expects to pick the winning bidder by the end of 2019 to build and operate a $1.5-billion road project under a public private partnership (PPP) model, a senior official said on Tuesday. The planned 95 km (60-mile) highway will connect the capital Kampala with Jinja, an industrial town in... 

Tanzania names latest mining minister in ongoing industry clash 

By: Reuters     8th January 2019 Tanzania named a new mining minister on Tuesday amid a prolonged spat between the government and gold producer Acacia over a $190-billion tax bill, which has severely limited the London-listed company's operations in the East African nation. Dotto Biteko, whose appointment was announced by... 

Barrick's new CEO says gold industry shake-up is just starting

By: Bloomberg     4th January 2019 Barrick Gold Corp.’s new chief executive officer has a message for the gold industry: This is just the start of a big shake-up. Barrick agreed to buy smaller rival Randgold Resources Ltd. in a $5.4-billion deal announced in September. As part of the agreement, Randgold’s CEO, Mark Bristow,... 

Air Tanzania becomes first African-based Airbus A220 operator

By: African News Agency      21st December 2018 Air Tanzania as become the first African carrier to take delivery of the Airbus A220 aircraft, the newest addition to the Airbus family of commercial aircraft, the companies said on Friday. Representatives from the airline as well as Tanzanian government officials alongside executives from the... 

Walkabout hikes resource at Tanzania graphite project

By: Creamer Media Reporter      20th December 2018 ASX-listed Walkabout Resources has announced an upgraded mineral resource estimate for its Lindi Jumbo graphite project, in south-eastern Tanzania, hiking the resource by 41.3%. The resource increased to 41.8-million tonnes at 10.8% total graphite content (TGC), containing 4.5-million tonnes of... 

Tanzania to sign deal this week for $3bn power plant – President

By: Reuters     12th December 2018 Tanzania will sign a deal this week for the construction of a $3-billion hydroelectric power plant, the president said in remarks broadcast on state television on Tuesday. President John Magufuli did not name the company awarded the contract for the power plant and dam to be built in the Selous... 

Kibo, Edenville resubmit tender qualification documents to Tanesco

By: Tasneem Bulbulia     7th December 2018 Aim-listed companies Kibo Energy and Edenville Energy on Friday both announced that they had resubmitted their respective tender qualification documents to the Tanzania Electricity Supply Company (Tanesco). Kibo is developing the Mbeya coal-to-power project (MCPP) and Edenville the Rukwa... 

Oil, gas outlook positive amid tough conditions, says PwC review

By: Kim Cloete     7th November 2018 The outlook for Africa’s oil and gas industry is positive, despite tough economic conditions and far fewer discoveries over the past year, PwC’s yearly 'Africa Oil & Gas Review' shows. The review indicates how the industry has responded in the wake of the recovery of the oil price to close to... 

ExecuJet welcomes first Pilatus PC-24 aircraft to its fleet  

1st November 2018 Luxury aviation company ExecuJet last month officially launched and welcomed the Pilatus PC-24 to its fleet at the company’s private terminal at Cape Town International Airport. Simone Liedtke reports. 

Merged Barrick-Randgold eyes nine tier-one gold assets 

By: Mariaan Webb     26th October 2018 Gold major Barrick Gold chairperson John Thornton has urged shareholders to vote in favour of its $6.1-billion transaction with Africa-focused Randgold Resources, telling investors that the combined entity will have five of the world’s ten so-called tier-one assets and that this could be expanded... 

Unlock true potential of Africa by empowering its youth

26th October 2018 Africa evokes distinctive images of its natural wildlife and majestic landscapes. Of course, there is more to the Africa story, driven by its people, tremendous talent pool, and the untapped resources that will take the continent to the next level of growth in the coming years. 

Mbeya coal-to-power project, Tanzania

By: Sheila Barradas     26th October 2018 Kibo Mining has submitted its formal tender qualification document to the Tanzania Electricity Supply Company for the project. 

Rukwa coal-to-power project, Tanzania

By: Sheila Barradas     26th October 2018 Edenville Energy has submitted the required documentation to Tanzania Electricity Supply Company with regard to the utility’s request for qualification for coal-fired power generation projects in Tanzania.  

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