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IMF slates unpredictable policies in report Tanzania blocked

By: Bloomberg     23rd April 2019 The International Monetary Fund said that Tanzania’s economy is being harmed by the government’s “unpredictable and interventionist policies” in a report whose release the East African country has blocked. Tanzania refused to authorize the publication of the report, the IMF said Wednesday in a... 

Shanta achieves strong first-quarter performance

By: Tasneem Bulbulia     18th April 2019 East Africa-focused gold producer Shanta Gold had a strong start to 2019 – with the quarter ended March 31 having been its best opening quarter in three years in terms of production. Its costs were also well below guidance. 

Kibo appoints Wimmer as adviser for African project financing

By: Tasneem Bulbulia     17th April 2019 Kibo Energy has signed a corporate finance engagement letter with Wimmer Financial, which will advise Kibo on and manage all aspects related to the structuring and provision of a project finance corporate credit line facility of up to $900-million which could form part of a broader funding... 

Armadale progresses towards DFS, mining permit for Mahenge graphite project

By: Marleny Arnoldi     16th April 2019 Aim-listed Armadale Capital expects a definitive feasibility study or its Mahenge Liandu graphite project, in Tanzania, to be completed in the fourth quarter. Remaining work, including product marketing, developing transport and logistics pathway and a resource update, is under way.  

Acacia reports 13% lower gold production for the first quarter 

By: Simone Liedtke     15th April 2019 Gold miner Acacia Mining on Monday reported gold production of 104 889 oz for the first quarter of this year, a 13% year-on-year decrease mainly as a result of lower output at the North Mara and Buzwagi mines. Gold ounces sold for the quarter, at 104 985 oz, were, however, in line with production. 

Petra Diamonds' new CEO to work on strategy, seeks stability first 

By: Reuters     15th April 2019 African miner Petra Diamonds, which has high debt levels, aims to be cash flow positive in the second half of the year and will then be able to consider future developments, its new chief executive said on Monday. The company's share price has fallen 55% since the start of the year as weak... 

Demand for outsourced solutions rising in Africa

By: Jessica Oosthuizen     12th April 2019 Mineral discoveries in Africa have been on the increase in the past ten years and one of the major challenges for mines is finding expert solutions in countries that have developing mining ecosystems, says global boutique consultancy The Polyglot Group renewables and resources senior consultant... 

Rock engineering consultancy expanding service offering

By: Jessica Oosthuizen     12th April 2019 Outsourced rock engineering and seismic monitoring services provider Open House Management Solutions (OHMS) is continuously considering opportunities to expand its service offering to the minerals industry and develop in new, but related services, says OHMS MD Koos Bosman. OHMS has been in... 

Walkabout strikes global marketing agreement

By: Esmarie Iannucci     11th April 2019 Graphite developer Walkabout Resources has signed a binding global sales, purchase and marketing agreement with international commodities trading house Wogen Pacific. Under the terms of the agreement, Wogen will actively market Walkabout’s graphite concentrate, initially contracting to buy and... 

Walkabout strikes new offtake in Tanzania

By: Esmarie Iannucci     9th April 2019 Graphite developer Walkabout Resources has inked a second binding offtake agreement over its Lindi Jumbo project, in Tanzania. The company has inked a term sheet with graphite product manufacturer Qingdao Risingdawn Graphite Technology Company to deliver 10 000 t of flake graphite over a three... 

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