Market News

 Australian graphite developer Kibaran Resources (ASX:KNL) announced that it has started studies on expanding the production capacity of its Epanko Graphite Project in Tanzania, by 50%. The studies will focus on increasing Epanko’s capacity from 40,000 tons per annum (tpa) of graphite co . . .

 The use of geographical information system (GIS) technology in gold exploration in Tanzania has led to the discovery of large deposits near the Bulyanhulu goldmine in Kahama.   This was revealed at a recent workshop organised by Kenya-based firm ESRI Eastern Africa, which has a presence . . .

 Kibo Mining has recrafted its agreement with SEPCO III for the construction of the Mbeya Coal to Power Project (MCPP) in Tanzania. SEPCO III would refund Kibo 50% of the development costs incurred, starting with US$1.8mln by 30 August. In return, it would acquire the right to be the sole bidd . . .

 East African Metals, a Canadian mine development company with an interest in exploration projects, has requested a license from the Ministry of Mines, Petroleum & Natural Gas, to start the large scale extraction of gold and silver in Ethiopia.   The company has submitted its application . . .

 Acacia Mining profit in the first half of 2016 have soared as gold prices and sales surged while operating costs fell.   The gold mining company, which operates three mines in Tanzania, said in a statement its earnings before interest, tax, depreciation and amortisation for the six mont . . .