Market News

  • Kenya: Government Told to Ban Exportation of Raw Soapstone

    Posted on :Thursday , 10th December 2015

    The soapstone carvers in Tabaka area in Kisii County have called on the government to impose a total ban on exportation of uncut soapstone from Kenya.

    According to Jared Nyabuto, a soapstone dealer, both the county and national government lose millions of shillings by selling uncut stones to international dealers who eventually sell them at higher prices.

    He noted . . .

  • Petra and Ekapa Acquire De Beers Oldest Diamond Mine

    Posted on :Saturday , 5th December 2015

    According to Reuters, Petra Diamonds Ltd and South African’s Ekapa Minerals would buy De Beers’ Kimberley mines for 102 million rand ($7.1 million). In last May, De Beers announced that it put the mining operations in Kimberley on sale.

    Kimberley mines is located in the Northern Cape Province of South Africa. In 1871, a discovery of 83.5 carat diamond near a farm belo. . .

  • Yara Gets New Partner for Dallol Project in Ethiopia

    Posted on :Thursday , 3rd December 2015

    Liberty Metals & Mining Holdings, LLC, a subsidiary of Boston-based Liberty Mutual Insurance (LMM), has acquired 25 percent of the shares in “Yara Dallol” for USD 51.25 million.

    Yara’s share of the proceeds is USD 35.4 million.

    Yara Dallol is a project looking at extracting potash in the Danakil depression in North-Eastern Ethiopia.

  • Ministry of Minerals Signs Three Agreements to Explore Gold in Some States

    Posted on :Tuesday , 1st December 2015

    Khartoum — The Ministry of Minerals signed three franchise agreements with national and foreign companies to operate in gold mining and other minerals.

     
    The Minister of Minerals Dr. Ahmed Mohamed Sadiq Al-Karuri signed, on behalf of the government of Sudan, a concession agreement with Italian company to explore gold at Delgo locality in the Northern State.
  • Rio Tinto Approves $1,9bn Bauxite Mine

    Posted on :Monday , 30th November 2015

    Rio Tinto has given a go-ahead to a $1,9 billion project to build an Australian bauxite mine, defying a deepening commodities downturn. The investment is the largest that Rio has approved for more than two years, a period when global miners have slammed the brakes on spending following a surge in capital expenditure when they tried to take advantage of rising commodity prices.

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