Market News

 The First International Tender Auction for rough and cut Tanzanite organized by the Government of Tanzania generated almost USD3.5m. The auction was held in Arusha, northern Tanzania, on August 9th–12th 2016. A total of 330,553.17 grams of rough and 3,274.70 carats of cut Tanzanite was . . .

 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 . . .