Market News

Shares in African Potash (LON:AFPO) jumped Friday after the miner announced it has sealed a deal to sell 50,000 metric tonnes (MT) of its fertilizer product to a Zambian distributor in the Common Market for Eastern and Southern Africa (COMESA) for $500 a tonne. The stock was up 2.5% at 3.625p in . . .

Ethiopia government has promised a “bright future” for foreign investors in the country’s mining sector. Ethiopian Minister of Mines Tolesa Shagi on Friday called on development partners to join the country’s efforts in boosting the mining sector development for mutual ben . . .

Kampala — The Uganda Chamber of Minerals and Petroleum (UCMP) has signed a cooperation agreement with a Chinese province to help boost the budding mining sector.   According to the UCMP vice chairman, Mr Richard Kaijuka, the chamber inked the deal with Shandong Provincial Bureau of Geol . . .

Bukombe — CCM Union presidential flag bearer, Dr John Magufuli, said that if elected the fifth president, small-scale miners will be provided with loans and modern equipment to boost production.   He noted that the government would allocate adequate sites for small-scale miners and ensu . . .

Metallon Corporation's revenue for the first half of the year went up 7 percent to $58 million from around $54 million recorded in the first half of last year spurred by an increase in production during the period under review.   Gold production for the period increased to 48,143 ounces from . . .