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Acacia enters into gold protection measures

By: Natasha Odendaal     6th September 2017 LSE-listed Acacia Mining has bought put options covering 210 000 oz of gold at a strike price of $1 300/oz as it continues implementing ongoing cash outflow mitigation measures. The group on Wednesday announced that the $3.2-million option provided a minimum price for the majority of the group’s... 

Shanta firms up operations and management structures

By: Natasha Odendaal     5th September 2017 Following a business review in the wake of legislative changes in Tanzania, Aim-listed Shanta Gold is optimistic of emerging with a leaner cost structure, an enhanced focus on increased cash generation, greater internal Tanzanian leadership and reduced financial risk. With new initiatives in... 

World's richest mines slipping from hands of multinationals

By: Bloomberg     5th September 2017 Outnumbered and outflanked, Freeport-McMoRan CEO Richard Adkerson made an about-face. Only months before, Adkerson had dismissed the idea of selling a majority stake in the Phoenix-based company’s flagship Indonesian copper-and-gold mine to local investors. But, seated beside government officials... 

Acacia to reduce operations at Bulyanhulu, cut jobs

By: Natasha Odendaal     4th September 2017 LSE-listed Acacia Mining is reducing operational activity at its Bulyanhulu mine, in Tanzania, as the pressures of unsustainable cash outflows at the mine owing to the ongoing concentrate ban force the group’s hand. Over the next three months, Acacia will focus on the process of moving the mine... 

Katoro progresses Imweru PFS

By: Creamer Media Reporter      31st August 2017 All desktop work for the prefeasibility study at Aim-listed Katoro Gold’s Imweru mine has been completed. Engineering and pit optimisation studies are also at an advanced stage, while all drilling required for the geohydrology study as part of the ongoing environmental- and social-impact... 

SEW-EURODRIVE builds on its East African presence with new offices in Tanzania, Kenya

     30th August 2017 SEW-EURODRIVE is building on its presence in Tanzania, its main hub in Eastern Africa, by opening a new office in Kenya, and commencing with a recruitment drive for Burundi and the Democratic Republic of Congo (DRC). East Africa represents a major growth area for the drive and automation... 

Edenville signs coal marketing deal with UK firm

By: Creamer Media Reporter      29th August 2017 Aim-listed Edenville Energy, which is developing the Rukwa coal project, in Tanzania, has entered into a nonexclusive two-year coal marketing agreement with a UK firm. The firm, which will be responsible for introductions, liaison and, where appropriate, management of coal sales and delivery, has... 

Magnis Resources strikes supply deal with German consortium

By: Anine Kilian     28th August 2017 ASX-listed Magnis Resources has signed a memorandum of understanding (MoU) to supply raw materials to German lithium-ion battery consortium TerraE-Holding. Under the agreement, Magnis, which mines natural flake graphite for use in lithium-ion batteries, will supply raw materials to the TerraE... 

Peak announces Ngualla optimisation study results

By: Esmarie Swanepoel     28th August 2017 ASX-listed rare earths developer Peak Resources has flagged improved economics at its planned Ngualla project, in Tanzania, on the back of a process optimisation study. The company on Monday told shareholders that process optimisation study had increased production from the 28 300 t/y of mineral... 

Edenville reports progress at Rukwa

By: Natasha Odendaal     25th August 2017 Aim-listed Edenville Energy on Friday said work at the Rukwa coal project site, in south-west Tanzania, was progressing, with the majority of the wash plant components now on site and the last shipment due for delivery next week. In an update to shareholders, the company noted that construction... 

Infrastructure key to unlocking trade and value chains across SADC region

By: Anine Kilian     25th August 2017 It is common cause that industrialisation across the Southern African Development Community (SADC) region is key to diversifying the regional economy away from its current reliance on the export of raw commodities and to supporting economic growth and employment creation. There is broad... 

Infrastructure key to unlocking trade and value chains across SADC region

By: Anine Kilian     25th August 2017 It is common cause that industrialisation across the Southern African Development Community (SADC) is key to diversifying the regional economy away from its current reliance on export of raw commodities and to supporting economic growth and employment creation. There is broad acceptance that SADC... 

Mbeya coal-to-power project, Tanzania

By: Creamer Media Reporter      25th August 2017 Formal negotiations with infrastructure investors are scheduled to be held in the coming weeks. 

Songwe River Basin Programme, Malawi and Tanzania

     25th August 2017 The transboundary project includes a multipurpose dam and will provide water for an irrigation scheme covering about 3 000 ha in each of the countries. 

Walkabout lowers Lindi Jumbo project capex

By: Esmarie Swanepoel     24th August 2017 Junior graphite developer Walkabout Resources has reduced the expected start-up capital cost for its Lindi Jumbo graphite project, in Tanzania, from $38.7-million to $29.6-millio. The ASX-listed company told shareholders that an updated definitive feasibility study also adjusted the project’s... 

Kibo to hold formal negotiations with potential MCPP investors

By: Creamer Media Reporter      22nd August 2017 Aim- and AltX-listed Kibo Mining will, in the coming weeks, hold formal negotiations with infrastructure investors that have expressed an interest in making an equity investment in the Mbeya coal-to-power project (MCPP), in Tanzania. Kibo, which is headed up by CEO Louis Coetzee, expects to work... 

Infrastructure initiative garners support from nine African presidents

By: Natasha Odendaal     21st August 2017 Spearheaded by South Africa’s President Jacob Zuma, the Presidential Infrastructure Champion Initiative (PICI), aimed at accelerating regional trade and unlocking the economic potential of the continent, now has nine African presidents on board, with ten projects in the spotlight as Africa... 

Tanzania’s 55% share of mine revenue ‘pretty generous’ – AngloGold  

By: Martin Creamer     21st August 2017 The share of revenues that the government of Tanzania has received from the Geita gold mine is “pretty generous” when compared with what shareholders have received, AngloGold Ashanti CEO Srinivasan Venkatakrishnan said on Monday when the company reported an adjusted headline loss of $93-million,... 

Shanta cancels Helio transaction, New Luika on track to meet FY guidance

By: Anine Kilian     18th August 2017 East Africa-focused Shanta Gold has cancelled its proposed £3.5-million buyout of TSX-V-listed Helio Resources. The transaction, which was announced in June, would have given Shanta control of Helio’s assets, adjacent to its own New Luika gold mine, in Tanzania. 

Crystal Events Africa

     18th August 2017 Crystal Events Africa, formerly Crystal Events & Incentives, is a leading conference, incentive travel and corporate meeting organiser in South Africa. Its recent expansion into Africa has increased its business capacity to successfully drive intercontinental business through in-bound incentive... 

Paragon is one of the largest design practices in Africa

     16th August 2017 Leading architectural, interior design, and space planning practice Paragon is one of the largest in Africa. Over the past seven years, it has undertaken projects in 18 countries on the continent, and in Brazil. Projects have been completed in eleven countries in Africa, encompassing both... 

US Embassy welcomes new Consul General to Cape Town

     11th August 2017 Consul General Virginia Blaser has been appointed to lead the Consulate General in Cape Town. “Consul General Blaser brings extensive experience from across the continent, where she led key US embassies, promoting trade and investment, empowering women and young leaders, and supporting... 

Helios Towers Tanzania acquires Zantel’s mainland tower portfolio

By: Natasha Odendaal     10th August 2017 Telecommunications infrastructure firm Helios Towers Tanzania (HTT) is acquiring all mainland unique telecoms tower sites from Zanzibar Telecom (Zantel) for an undisclosed amount. The acquisition will bring the Helios Towers Africa (HTA) subsidiary’s telecoms tower sites in Tanzania to around 3... 

Volvo Car SA ready for hybrid, electric vehicle rollout post-2019, says MD

By: Irma Venter     10th August 2017 Volvo Car South Africa (VCSA) MD Greg Maruszewski is confident the local arm of the Swedish group will be able to thrive under its parent company’s new powertrain policy. Volvo announced last month that all new cars launched globally from 2019 onwards will be partially or completely... 

Clyde & Co further expands its insurance footprint in South Africa with key partner hires

     8th August 2017 Global law firm Clyde & Co has today announced the appointment of Deon Francis and Reshana Pillay as Partners in its leading insurance practice in South Africa. They will be based in Johannesburg. Deon and Reshana both join from Hogan Lovells, where they have built successful self-standing... 

SADC needs to promote intra-bloc trade and South Africa should lead – OECD

By: Keith Campbell     4th August 2017 The Organisation for Economic Cooperation and Development (OECD), in its July 2017 survey of the South African economy, has urged South Africa to promote further economic integration within the Southern African Development Community (SADC). “SADC is already the largest export market and a major... 

SADC urged to liberalise services and improve business environments

By: Keith Campbell     4th August 2017 In addition to making intraregional trade in goods easier, the member countries of the Southern African Development Community (SADC) should facilitate intra-bloc trade in services and improve their business environments, the Organisation of Economic Cooperation and Development (OECD) argued in... 

Shanta CEO retires as company adapts to regulatory changes in Tanzania

By: Creamer Media Reporter      3rd August 2017 Following recent changes to the regulatory, operating and fiscal environment in Tanzania, Aim-listed Shanta Gold has decided to refocus its strategy on cost control and shareholder returns. In line with the new strategy, Toby Bradbury will retire as CEO and will be succeeded by CFO Eric Zurrin... 

DBSA committed to funding infrastructure projects throughout SADC

By: Anine Kilian     1st August 2017 With low levels of electrification hindering economic growth and development in sub-Saharan Africa – where 78% of the population is reliant on biomass as their main energy source – $57-trillion will be required until 2030 to fund the continent’s infrastructure and energy projects, according to... 

Ngualla goes ahead as planned – Peak

By: Esmarie Swanepoel     31st July 2017 Recently adopted legislative changes in Tanzania would apply to the Ngualla project, but developer Peak Resources said on Monday that impacts would be manageable if rare earth prices continued to rise. Peak MD Darren Townsend said the new legislation appeared to be focused mainly on precious and... 

Acacia, Tanzania dispute intensifies over employee detention

By: Henry Lazenby     28th July 2017 Barrick Gold’s majority-owned African business segment Acacia Mining has reported that a senior international employee of its subsidiary Pangea Minerals has been detained by Tanzania authorities. The official was prevented from leaving Tanzania on Friday morning and had his passport confiscated... 

Gas industry will provide foreign investment opportunity

By: Nica Schreuder     28th July 2017 From a fuel and foreign investment perspective, growing a gas industry is a major direct foreign investment opportunity for South Africa, says engineering consultancy WSP Africa power generation director Wayne Lindecke. He adds that the gas-to-power programme (GPP) is a catalyst to significantly... 

Automotive future positive through telematics 

By: Victor Moolman     28th July 2017 The future for automotive fleet management through telematics is positive, says JSE-listed fleet management, insurance telematics and stolen vehicle recovery service provider Cartrack. 

Technology, digital solutions part of Botswana firm’s microfinance arsenal as it expands across Africa 

By: David Oliveira     28th July 2017 Botswana-based microfinance company Letshego Holdings, which operates in 11 African countries, aims to use technology and digital solutions to affect economic redress in Africa and provide financial inclusion for the continent’s most underserved markets. Letshego MD Chris Low explains that the... 

World's biggest tax bill is latest worry for African gold miner

By: Bloomberg     27th July 2017 It was supposed to mark a fresh start for the African business of the world’s biggest gold producer. In November 2014, African Barrick Gold would get a new name and new management to distance itself from a troublesome past and disputes with local politicians. Less than three years later, things... 

Gold majors pump profits as costs fall, output rises

By: Henry Lazenby     27th July 2017 Several gold majors reported second-quarter results on Wednesday, showing rising profits amid lower costs and rising or stabilised production profiles. The world’s largest gold producer by output Barrick Gold reported headline earnings after market close on Wednesday of $261-million, or $0.22 a... 

Tanzania President urges increased control of mineral wealth

By: Bloomberg     26th July 2017 Tanzanians are being cheated out of the country’s mineral wealth and should take more control of their natural resources, President John Magufuli said. Investors in Tanzania’s mining industry have “stolen” from the country by failing to provide a fair share of the revenue they generate from gold... 

Kibo reports accelerated progress at Mbeya

By: Natasha Odendaal     26th July 2017 The Mbeya coal-to-power project (MCPP) was seeing accelerated momentum, with a fresh round of successful follow-up meetings with government departments and other Tanzanian stakeholders concluded, AltX- and Aim-listed Kibo Mining said on Wednesday. The Tanzania-focused mineral exploration and... 

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