R/€ = 16.33 Change: 0.45
R/$ = 14.71 Change: 0.45
Au 1319.09 $/oz Change: -5.97
Pt 1004.00 $/oz Change: -5.00


Rebooted Datsun brand sells 5 645 units to claim number one position in entry-level A-segment

By: Irma Venter     4th March 2016 Datsun sold 5 645 new vehicles in South Africa last year, which made it the number one seller in the entry-level A-segment, says Datsun South Africa (SA) GM Des Fenner. This number equates to around 470 units a month. Fenner is hopeful sales will reach 500-plus units a month by March, which... 

Rukwa coal-to-power project, Tanzania

By: Sheila Barradas     4th March 2016 Tanzania Energy and Minerals Minister Sospeter Muhongo has awarded a mining licence for Edenville’s Rukwa coal-to-power project. 

Africa is still a growth story with a billion-strong young market, 2016 RICS Africa Summit hears

     3rd March 2016 Despite Africa’s slowing growth on the back of global financial conditions, there are still economic opportunities for long-term sustainable investment in property and the broader built environment for investors with a savvy understanding of local economies on a continent with a billion-strong... 

Edenville raising £400 000 to progress Rukwa

By: Megan van Wyngaardt     2nd March 2016 Aim-listed Edenville Energy would see a capital increase of £400 000 after it raised the subscription of 1.3-billion new ordinary shares by 0.02p to 0.03p apiece in an attempt to raise company capital. The shares, which were raised after the coal-to-power project developer was granted a mining... 

Political uncertainty, conflict key inhibitor to FDI inflow

By: Natasha Odendaal     2nd March 2016 Armed conflict, political uncertainty and security threats were the largest deterrents to foreign direct investment (FDI) inflows in Africa, regardless of the quality of a country’s geological base, new analysis by advisory firm KPMG has shown. In the five-year period to 2014, total FDI inflows... 

KPMG report identifies top influences of FDI into Africa

     2nd March 2016 A KPMG analysis of the factors that attract investors in Africa show that corruption, poor infrastructure and onerous business conditions in fact do not scare off investors, if the mineral, oil or gas resources are sufficiently attractive in the context of global demand - but warns that even... 

Maritime Transport policy to be submitted to Parliament in March

By: Shirley le Guern     26th February 2016 The Department of Transport has accelerated the process of finalising the Maritime Transport Policy, which is expected to take effect by mid-year, according to Deputy Transport Minister Sindiwe Chikunga, who told Engineering News on the sidelines of the inaugural eThekwini Maritime Cluster Summit... 

On-The-Air (26/02/2016) 

By: Martin Creamer     26th February 2016 The local rollout of platinum fuel cell technology is being fast-tracked with full government backing; AngloGold’s South African mines – once the pride of the pack – have fallen badly behind the company’s mines in the rest of the world; A top South African mining company this week seized the... 

AfDB support for Uganda water projects, Tanzanian governance

By: Mia Breytenbach     26th February 2016 The African Development Bank (AfDB) has approved a $91-million loan to Uganda for the provision of clean water and improved sanitation in the country and a $16.1-million loan to finance the Tanzania institutional support project for good governance (ISPGG III). The water supply and sanitation... 

Tanzania govt urges Kibo to fast-track Mbeya

By: Megan van Wyngaardt     25th February 2016 The Tanzanian government has given dual-listed Kibo Mining renewed confidence in the government’s support for the coal miner’s Mbeya coal-to-power project, following a meeting between Tanzanian Energy and Minerals Minister Professor Sospeter Muhongo and Kibo CEO Louis Coetzee. The meeting, which... 

Acacia appoints new COO

By: Creamer Media Reporter      25th February 2016 London-listed Acacia Mining has appointed mining engineer Mark Morcombe as COO effective from the second quarter of this year. Morcombe was previously senior VP for AngloGold Ashanti’s Obuasi mine, in Ghana, and, prior to 2012, served as senior VP for planning and business development for Africa,... 

Edenville awarded mining licence over Rukwa

By: Anine Kilian     24th February 2016 The Tanzania Energy and Minerals Minister Sospeter Muhongo has awarded a mining licence for Tanzania-focused miner Edenville Energy’s Rukwa coal to power project. The mining licence would be formally released to Edenville later this month, following the completion of certain minor administrative... 

AngloGold international mines slashing costs, upping margins 

By: Martin Creamer     24th February 2016 The international operations of AngloGold Ashanti have virtually halved their all-in sustaining costs (AISC) in three years. The Johannesburg- and New York-listed gold mining company’s international mines in eight countries began in the fourth quarter of 2012 with an AISC of $1 542/oz and ended... 

Resilience, candour and the will to learn with and from his team

     24th February 2016 An MD’s ambition for Engen Tanzania Paul Muhato’s appointment as Managing Director of Engen Petroleum (Tanzania) Ltd. heralds an invigorated vision for the company’s future growth in East Africa. 

Food security crisis grips Southern Africa as late-flooding threat lingers – Fewsnet

By: African News Agency      24th February 2016 The Famine Early Warning Systems Network (Fewsnet) has warned of a serious food security crisis in Southern Africa starting due to the poor rainfall patterns, which have persisted. In a regional food security and weather hazards bulletin covering the period February 17 to February 25, Fewsnet... 

Acacia hedges Buzwagi production for 2016, 2017

By: Megan van Wyngaardt     23rd February 2016 Africa-focused gold miner Acacia Mining has entered into zero cost collars in relation to the majority of the gold to be produced at the short-life Buzwagi mine, in Tanzania. The agreements provided a guaranteed floor price of $1 150/oz, while providing exposure to the gold price up to an average... 

Shanta finds gold at Askari target

By: Megan van Wyngaardt     23rd February 2016 A reverse circulation drilling programme completed at East Africa-focused Shanta Gold’s flagship New Luika mine (NLGM), in Tanzania, has delivered positive results. The Aim-listed company on Tuesday reported that the 2 699 m first phase of drilling at the Askari mineralised target, located about... 

Datsun to roll out new models, dealers, finance options as economy bites

By: Irma Venter     23rd February 2016 Datsun sold 5 645 new vehicles in South Africa last year, which made it the number one seller in the entry-level A-segment, says Datsun South Africa (SA) GM Des Fenner. This number equates to around 470 units a month. Fenner is hopeful sales will reach 500-plus units a month by March. The Datsun... 

Ost Engages With Lenders And Ipps At 2gw Egyptian Pv Site

     23rd February 2016 OST Energy, a leading technical advisor for wind, solar and energy storage initiatives, is working with a number of major international development finance institutions and independent power producers to provide lender’s engineering and due diligence services at the 2GW Ben Ban solar PV... 

Outa produces ‘evidence’ to show e-tolls are overpriced by more than 300% 

By: African News Agency      23rd February 2016 The Organisation Undoing Tax Abuse (Outa) revealed on Monday that the Gauteng Freeway Improvement Project (GFIP) was overpriced by a whopping 321% when compared to road construction pricing systems around the world. This finding comes as a result of Outa’s, formerly known as Opposition to Urban... 

Puma Energy moves to fill South Africa’s growing cleaner-fuels market gap

By: Terence Creamer     23rd February 2016 Independent mid- and downstream energy group Puma Energy is moving aggressively to fill what it perceives to be a growing market gap for cleaner fuels in South Africa, where demand is rising ahead the domestic refining industry’s capacity to supply. The company, which is associated with commodity... 

Kibaran raises $2m for Tanzania graphite project

By: Megan van Wyngaardt     22nd February 2016 Australian junior Kibaran Resources is poised to finalise project financing for development of its Epanko graphite project, in Tanzania, after raising $2-million through a share placement at 15c apiece. As an additional funding mechanism, the placees would receive one free attaching option for... 

AngloGold cuts debt 30%, generates $160m free cash

By: Martin Creamer     22nd February 2016 Gold mining company AngloGold Ashanti said on Monday that it had cut net debt by nearly a third, after margins increased, despite lower gold prices, allowing the company to generate free cash flow of $160-million in the fourth quarter. The company has delivered on a range of self-help measures... 

Magnis to offload uranium assets

By: Creamer Media Reporter      19th February 2016 ASX-listed Magnis Resources has called an extraordinary general meeting for April 5, where shareholders have to vote on the demerger of the company’s uranium assets. Chairperson Frank Poullas said on Friday that Magnis’s uranium assets were considered noncore and that the demerger would allow... 

Malawi says work on 23 MW Shire river power plant to begin in 2016

By: Marcel Chimwala     19th February 2016 Construction of the 23 MW Tedzani IV power station on Malawi's Shire river will start before the end of this year, with the facility scheduled to come on stream by 2018. Natural Resources, Energy and Mining Ministry energy affairs spokesperson Joseph Kalowekamo says the project, which is funded... 

Nile standoff could jeopardise East African power-pool projects

By: John Muchira     19th February 2016 The standoff between Egypt and Ethiopia over use of the Nile river's waters is threatening to jeopardise power projects aimed at interconnecting the grids of countries in the wider Eastern Africa region. In a new twist to the protracted dispute, Egypt has pulled out of the Eastern Africa Power... 

Kibo welcomes metallurgical test results on Mbeya coal resource

By: Anine Kilian     17th February 2016 Aim-listed Kibo Mining has welcomed the outcome of metallurgical test work on the coal resource at its Mbeya coal-to-power project, in Tanzania. “[This] marks another major step forward in the development of the MCPP. Feasibility work done to date on the Mbeya coal resource independently... 

Acacia posts $197m FY net loss

By: Megan van Wyngaardt     15th February 2016 Tanzania-focused gold miner Acacia Mining has posted a $197-million net loss for 2015, on the back of a $189-million impairment charge over its Buzwagi mine. The impairment charge followed a review of the carrying value of the miner’s assets, in light of the lower gold price. 

S.A. Quantity Surveyors Urged To Explore African Market More Fully

     15th February 2016 SA Quantity Surveyors should broaden their scope of operations beyond our national borders, says Synergy Property Solutions, a relatively small quantity surveying and project management  company based in Port Elizabeth, which  has made major inroads into Africa and worked on several high-profile,... 

Magnis raises funds for Tanzania graphite project

By: Esmarie Swanepoel     12th February 2016 Graphite developer Magnis Resources has raised A$3-million through a share placement to sophisticated and institutional investors to complete the bankable feasibility study and progress the Nachu project, in Tanzania. More than 8.5-million shares were issued at a price of 35c each. 

Gold miner Acacia looking beyond Tanzania

By: Martin Creamer     8th February 2016 Gold mining company Acacia Mining is looking to go beyond Tanzania into Kenya and West Africa. Acacia CEO Brad Gordon told the 2016 Investing in African Mining Indaba that the company’s growth had stemmed from a focus on business fundamentals, people and relationships. 

Tanzania LNG project makes progress

     8th February 2016 Tanzania has opened 2016 as a serious contender to Mozambique Gas reserves, and the banter of 2015, pitting the two countries together in a race to come on stream first. Recent Tanzania market developments include: 

US–Africa business summit wraps up, US plays catch up in Africa

By: African News Agency      8th February 2016 The US intends to do business in Africa, beyond the usual export-import trade and extractive industries such as oil and gas. That was the signal sent out by the visit of a high-level United States delegation – led by US Assistant Secretary of State for Africa Linda Thomas Greenfield – to attend... 

Premier energy event a must for energy businesses

By: Nadine James     5th February 2016 Africa Energy Indaba (AEI) MD Liz Hart says the value of attending the eighth yearly AEI is that industry stakeholders will meet the right people who can decide on energy transactions and implement them.  

Rwanda plans inland clearing port to bolster trade

By: John Muchira     5th February 2016 Landlocked Rwanda plans to construct an inland clearing port to boost trade and accelerate economic growth. Trade and Industry Minister Francois Kanimba says the country's government has awarded a 25-year concession to Dubai Port World to build and operate the new Kigali Logistics Platform. 

Liontown buys another lithium/tantalum project

By: Esmarie Swanepoel     4th February 2016 ASX-listed junior Liontown Resources has acquired a second lithium-tantalum exploration project, this time in the Northern Territory. Liontown on Thursday revealed that it would acquire the Bynoe project from privately held Orema for an initial signing fee of A$10 000 in cash, and a A$100 000... 

IMX makes plans to develop Tanzania project

By: Esmarie Swanepoel     1st February 2016 Graphite hopeful IMX Resources has inked a memorandum of understanding (MoU) with two major Chinese firms over the possible development of its Chilalo project, in Tanzania. IMX told shareholders on Monday that the MoU, which was signed with China Gold Investments and a subsidiary of China... 

Acacia reports fatality at North Mara

By: Natalie Greve     29th January 2016 A contract employee at Acacia Mining’s North Mara mine, in Tanzania, has passed away following a vehicle accident at the mine, the company has informed the market. Chacha Range was killed on Friday morning when the haul truck he was driving overturned on the haul road to the Gokona deposit. 

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