AIM-listed gold exploration and development company Kefi Minerals has received formal confirmation from the Government of Ethiopia of its intent to invest between US$15 and US$20 million in the Tulu Kapi gold project.
This investment will provide the government of Ethiopia with an equity interest in Kefi Minerals Ethiopia (KME), a wholly-owned subsidiary of Kefi Minerals that owns and operates the project, of approximately 20-25% based on the projected enlarged paid-up share .... Read more »
Posted on : Tuesday , 17th November 2015
Tanzania Petroleum Development Corporation (TPDC) will start an advanced search for oil in Lake Tanganyika, the state-owned firm said at the weekend.
From its first stages of surveys across Lake Tanganyika waters, TPDC believes the area from Kigoma Rural, Kigoma Ujiji, Uvinza and Mpanda Rural contains abundant oil resources.
The belief stems from the fact that neighbouring Uganda has already discovered oil in Lake Albert which has the same environment a.... Read more »
Posted on : Tuesday , 17th November 2015
Chinese firm Avic International has been awarded a contract to construct 2, 350 houses in Zambia for police officers at the cost of US $320m.
President Edgar Lungu indicated optimism for the project during the ground breaking ceremony for the construction of the first 48 houses in Zambia capital Lusaka. This is expected to be completed end of March 2016.
President Lungu noted that his country is experiencing housing deficit and this will help address the 12, 00.... Read more »
Posted on : Monday , 16th November 2015
Ugandan firm Pearl Dairy Farms has announced plans to construct a dairy factory in Kenya that will be tasked with production and repackaging of milk products. The factory to be constructed in the capital Nairobi is aimed at growing Pearl’s market share in the region.
Atul Chaturvedi, the CEO of Pearl confirmed the reports and said that the initial estimate of the investment in the planned factory stands at about US$ 1m.
“We have for a long t.... Read more »
Posted on : Monday , 16th November 2015
Tullow Oil is working on a plan to develop its northern Kenya fields, it said in an update.
Posted on : Monday , 16th November 2015
Twenty firms have been prequalified to bid for the construction of the regional Rusumo Falls Hydroelectric Project, which is expected to add 80MW to the Rwanda, Burundi and Tanzania power grids by 2019.
Posted on : Monday , 16th November 2015
The Climate Investment Funds (CIF), a multilateral climate finance vehicle, has endorsed Rwanda's renewable energy investment plans, making the country eligible to benefit from $50 million (about Rwf37 billion) for renewable energy funding.
Posted on : Monday , 16th November 2015
The East Africa Exchange (EAX), a regional commodities exchange warehouse receipt system, is expected to advance over $70 million in credit to smallholder grain farmers who have been starved of funding.
Posted on : Monday , 16th November 2015
Algiers — An agreement was signed, Thursday, between Algeria and China for the construction of a cultural and entertainment complex for youth in the municipality of Baraki (Algiers).
Posted on : Monday , 16th November 2015
But as to the sources of growth in electricity markets, coal’s relevance is going to diminish with every year and it’s going to diminish much faster than anyone had been thinking. The world is on track to hit the 1°C milestone this year.
He says it’s the first time the IEA has properly acknowledged the rise of renewable energies and the inevitable decline of coal power.
Instead, China is passing the baton to India, according to the.... Read more »
Posted on : Monday , 16th November 2015
Oil-rich South Sudan seceded from what is now the Republic of Sudan in 2011. Khartoum estimates that the loss of the southern oilfield brought oil production volumes down to some 150,000 of barrels a day from a previous half a million barrels per day.
“Actually, we are planning to expand, although the prices are going down,” Ambassador Nadir Babiker told RIA Novosti, adding his country imports oil byproducts like gasoline for the needs of its agricultural .... Read more »
Posted on : Monday , 16th November 2015
The government yesterday signed more contracts with mining companies to boost production and exports.
The contracts, signed between the Ministry of Natural Resources, Rwanda Development Board (RDB) and the investors, are aimed at bolstering exports by at least 28 per cent, Evode Imena, the state minister in charge of mining, said.
RDB granted four mining companies with licences to take charge of six mining blocks in Ngororero District, Western Province.
.... Read more »
Posted on : Monday , 16th November 2015
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