Market News
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Base Resources\' Kenya mine revenue to rise 12 pct in 2015/16
Posted on :Saturday , 24th January 2015
Australia's Base Resources expects revenue from its Kenya titanium mine to climb 12 percent in its next financial year to June 2016 due to an 8 percent rise in export volumes, Managing Director Tim Carstens said on Tuesday. East Africa's largest economy is seeking to expand its relatively modest and undeveloped mining sector, and the flagship $305 million Base Resources project is seen as integ. . .
Boost in Kenya\'s mining revenue
Posted on :Saturday , 24th January 2015
Kenya's mining revenues stood at Sh600 million in the first half of the 2014/2015 financial year, boosted by royalties from increased mineral exploration, Cabinet Secretary Najib Balala said yesterday.
"We are hopeful that the Sh1.2 billion target for the current year will be achieved by end of this financial year," Balala said.Chinese firm lands major mining deal
Posted on :Friday , 23rd January 2015
Project in Uganda also involves steel production, plants making fertiliser and acid, a power plant and more
A mining development deal in Uganda, one of the largest foreign-invested projects in the East African country that incorporates mining, fertilizer manufacturing, steel production and a melting plant, will generate annual net profit of $81 million, says the Gua. . .
Rwanda: New Smelting Plant to Boost Mining Sector
Posted on :Thursday , 22nd January 2015
Phoenix Metals LTD, a local factory, yesterday began smelting cassiterite into tin, a move set to boost Rwanda's revenue collections from mineral exports.
Rwanda's mineral ores produced in the country are exported as 100 per cent mineral concentrates. With the smelting plant taking shape, it will be possible to export semi-processed tin, whose market value is higher. . .Kenya to revoke controversial mining tax
Posted on :Tuesday , 20th January 2015
Less than a month after Uhuru Kenyatta was sworn in as Kenya's new president, his administration is planning to revoke rules passed in 2012, which impose 35% local equity shareholding in the country’s mining licences, reports Business Day.
Unlike most African governments, Kenyatta’s is not seeking larger ownership stakes in foreign miners with the upcoming mining bill. . .Please Select an Option
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