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Sampling confirms lithium in Namibia – Montero

By: Martin Creamer     17th November 2017 Exploration and development company Montero, which is putting mineralisation to the test in Namibia in search of a lithium resource, on Friday confirmed the presence of the soft silver-white metal in central Namibia. “Montero’s first channel sampling programme has confirmed lithium,” Montero CEO... 

Kibo upgrades MCPP MoU

By: Anine Kilian     16th November 2017 Aim-listed minerals and exploration development company Kibo Energy has upgraded its existing Memorandum of Understanding (MoU) with the Tanzania Ministry of Energy and the Tanzania Electric Supply Company (Tanesco), regarding a power purchase agreement (PPA) for the development and... 

Walkabout buys Lonmin’s Northern Ireland exploration portfolio

By: Esmarie Swanepoel     15th November 2017 Graphite developer Walkabout Resources on Tuesday announced its plans to diversify its exploration portfolio, with the acquisition of platinum miner Lonmin’s Northern Ireland exploration portfolio. Under the terms of the transaction, Walkabout acquired Lonmin’s Northern Ireland exploration... 

Africa’s first coltan smelter established in Tanzania

By: Robyn Wilkinson     10th November 2017 Mining and metals company AB Minerals is partnering with the African Minerals and Geoscience Centre (AMGC) in Dar es Salaam, Tanzania, to establish the first columbite-tantalite (coltan) smelter in Africa. 

Political tension slows mining activity in Tanzania

By: Victor Moolman     10th November 2017 Despite the fact that political tension in Tanzania has impacted the mining industry, with several operations subsequently closing, SEW-EURODRIVE continues to have a strong presence in the country, with Tanzania as its main hub for East Africa. SEW-EURODRIVE South Africa national sales manager... 

Opportunities persist in sub-Saharan Africa, despite unfavourable mining sector

     10th November 2017 Opportunities remain in sub-Saharan Africa (SSA), despite a spate of regulatory changes and policy uncertainty across major mining countries in the region eroding investor sentiment, highlighting the region’s mining sector as the riskiest in the world, according to Fitch-affiliated BMI. The... 

EY's Canadian Mining Eye Index trends positively in Q3

By: Creamer Media Reporter      9th November 2017 The EY Canadian Mining Eye index gained 2% during the third quarter, following a 7% decline in the prior period. The gain was driven by increases across the board in precious and base metals. "As commodity prices continue to increase, appetite for investment in existing projects is expected to... 

Shanta receives $3.4m VAT refund from Tanzania government

By: Creamer Media Reporter      8th November 2017 Aim-listed Shanta Gold has received a $3.4-million value-added tax (VAT) refund from the government of Tanzania. The refund is made up of a $1.9-million offset against corporate taxes payable in 2016 and 2017 and a cash payment of $1.5-million. 

Armadale graphite project yields positive drilling results

By: Anine Kilian     7th November 2017 Aim-listed Armadale has received the results of its 1 500 m, 28-hole reverse circulation drill programme, recently completed at the Mahenge Liandu graphite project, in Tanzania.   Wide high-grade mineralisation was consistently intersected at shallow, near-surface depths, with thick graphite... 

AngloGold achieves strong Q3 performance, on track to meet FY guidance

By: Mia Breytenbach     6th November 2017 Johannesburg- and New York-listed AngloGold Ashanti generated free cash flow of $88-million in the third quarter of this year, following strong production and cost containment across its portfolio, and remains on track to meet its full-year guidance.  The free cash flow for the quarter, compared... 

Kibaran trebles planned output of Tanzania graphite project

By: Esmarie Swanepoel     6th November 2017 Optimisation testwork at graphite developer Kibaran Resources’ Epanko project, in Tanzania, has flagged the potential trebling of planned battery-grade graphite production. MD Andrew Spinks told shareholders on Monday that the optimisation testwork had confirmed the positive results of Kibaran’s... 

Black Rock raises funds for DFS in Tanzania

By: Esmarie Swanepoel     6th November 2017 Graphite developer Black Rock Mining will raise A$4.75-million to fund the completion of a definitive feasibility study on the Mahenge graphite project, in Tanzania. The company raised an initial A$4.2-million through the placement of 70-million new fully paid ordinary shares, at 6c each to... 

Acacia CEO, CFO to step down

By: Creamer Media Reporter      2nd November 2017 Brad Gordon and Andrew Wray will step down as CEO and CFO of Acacia Mining at the end of this year. Gordon will return to Australia for family reasons, while Wray is pursuing an opportunity elsewhere. 

Rio Tinto throws its weight behind Africa as mining central

By: Reuters     2nd November 2017 Africa, as the largest untapped source of growth in the mining sector, is pivotal in helping Rio Tinto and other resources companies to supply the changing needs of the huge Asian market, a senior company official said on Wednesday. The comments, delivered at a Bloomberg forum as part of LME... 

Katoro completes phase two of Imweru Esia

By: Anine Kilian     30th October 2017 Aim-listed Katoro Gold has completed the second phase of the environmental- and social-impact assessment (Esia) for its Tanzania-based Imweru project.   The National Environmental Management Council acknowledged receipt of the scoping report and terms of reference for the execution of the final... 

Kibo secures Esia certification for Mbeya project

By: Natasha Odendaal     27th October 2017 AltX- and Aim-listed Kibo Mining has been granted an environmental- and social-impact assessment (Esia) certificate for its Mbeya coal and power generation project, in Tanzania. The Esia is the latest critical milestone for the company’s Mbeya coal-to-power project (MCPP), taking the project a... 

Barrick Gold aims for final Tanzania deal by mid-2018

By: Reuters     26th October 2017 Barrick Gold Corp said on Wednesday it would work with the government of Tanzania to find a way for a gold export ban to be lifted on its Acacia Mining unit and was aiming for a final agreement in the first half of 2018. The comments came in an earnings report from Barrick, which showed slightly... 

Barrick Gold's Tanzania deal may set expensive precedent – shareholders

By: Reuters     25th October 2017 Some mining investors are criticizing Barrick Gold for agreeing to Tanzanian demands in its proposed settlement of a dispute between its Acacia Mining unit and the Tanzanian government, saying this could embolden other host nations to press for bigger concessions from miners. Several... 

Volt seeks to raise $30m for Bunyu Stage 1 development

By: Creamer Media Reporter      25th October 2017 ASX-listed Volt Resources has appointed Exotix Capital to undertake a bond issue to raise up to $30-million in structured debt to fund the Stage 1 development of Volt’s Bunyu graphite project, in Tanzania. Exotix will act as structuring, financial and placement adviser and will leverage its... 

Tanzania President names tax expert as central bank governor

By: Reuters     23rd October 2017 Tanzania's new central bank governor will be tax law professor Florens Luoga, the country's President said on Monday. President John Magufuli said Luoga would take over in December or January after the tenure of current governor Benno Ndulu expires. 

Petra reports strong Q1 performance, despite strike, Tanzania export ban

By: Creamer Media Reporter      23rd October 2017 Despite labour disruptions at LSE-listed Petra Diamonds’ Finsch, Koffiefontein and Kimberley Ekapa Mining (KEM) Joint Venture (JV) operations in late September, CEO Johan Dippenaar says the group achieved a strong start to the 2018 financial year. Production for the quarter was down 4%... 

Acacia-Tanzania proposed settlement on track – Barrick

By: Reuters     23rd October 2017 Barrick Gold said on Friday a proposed mining settlement it negotiated with Tanzania for its Acacia Mining unit was not under threat, even though Acacia said it could not immediately make a $300-million payment included in the deal. Barrick, which owns 63.9% of Acacia, announced on Thursday the... 

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... 

Norwegian oil giant increases foothold in SA

     20th October 2017 Norwegian oil and gas company Statoil has acquired a 35% interest in exploration right 12/3/252 Transkei-Algoa, south of the Eastern Cape coastline, in South Africa, which is in line with its aim to position itself for global opportunities. This announcement followed the conclusion of a... 

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... 

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... 

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... 

Legislation not expected to significantly impact on niobium mine

     13th October 2017 A significant proportion of the much discussed new legislation that has been implemented in Tanzania is not expected to impact ASX-listed Cradle Resources or its jointly-owned niobium mining company Panda Hill Tanzania (PHT), says Cradle Resources. The new legislation is contained in three bills... 

Diamond struggles in Tanzania

     13th October 2017 Owing to the possible loss of revenue at London-listed Petra Diamonds’ operation in Tanzania, it is likely that the mining company will have to seek a waiver from its banking consortium, as it has in the past, for its December 2017 bank covenant test. This is according to credit ratings firm... 

Building presence in East Africa through Tanzanian office

     13th October 2017 Drive engineering specialist SEW-Eurodrive is adding to its existing presence in Tanzania, its main hub in Eastern Africa, by opening a new office in Kenya and starting a recruitment drive in Burundi and the Democratic Republic of Congo (DRC). SEW-Eurodrive’s Tanzanian branch, in Der Es Salaam,... 

Mining licence application submitted to Tanzanian govt

     13th October 2017 Junior graphite developer Walkabout Resources has submitted a mining licence application to the Ministry of Energy and Minerals of Tanzania for the Lindi Jumbo mine. The application, submitted last month, was prepared in compliance with the recently promulgated amendments to Tanzania’s Mining Act... 

Mining licence submitted for Fungoni

     13th October 2017 ASX-listed Strandline Resources has submitted the mining licence application for its Fungoni heavy mineral sands (HMS) project, in Tanzania, to the Ministry of Energy and Minerals. The application has been prepared in light of the advanced engineering work conducted to date as part of the... 

Tanzanian mining sector facing tough times

     13th October 2017 The Tanzanian mining sector has been hardest hit by regulatory changes in the country, with investors in other sectors also adopting a more cautious stance, which will present headwinds to growth in the long term, says research firm BMI Research. A recent dispute between the Tanzanian government... 

Development plan for gasfield submitted for approval

     13th October 2017 Oil and gas company Aminex has submitted a development plan for the Ntorya field, located onshore in the Ruvuma basin, in Tanzania, to the Tanzania Petroleum Development Corporation (TPDC) for approval. 

Soil sampling, mapping suggest new gold targets

     13th October 2017 A large soil anomaly with a peak value of 0.25 g/t gold has been discovered at the New York target area of ASX-listed Tanga Resources’ Hanang gold project, in Tanzania, following a geochemical sampling and mapping programme. Tanga Resources CEO Matthew Bowles explains that the New York target... 

ASX-listed company shares views on new legislation

     13th October 2017 ASX-listed Magnis Resources has received and reviewed initial legal advice on the new legislative amendments to the legal framework governing the mining and natural resources sector in Tanzania and its impact on the company’s activities in Tanzania. The legal advice confirms the in-country... 

Investor support for Tanzania-focused company

     13th October 2017 All subscribers to the convertible loan notes issued on September 27 by Tanzania-focused mineral exploration and development company Kibo Mining have elected to convert the notes to Kibo shares. The notes were converted at a Kibo share price of £0.05, which was calculated in accordance with the... 

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... 

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