Market News Page No. 384| Africa Business News | Afrotrade

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Intrepid Mines Invests U.S.$40 Million in Kitumba Project

Intrepid Mines, an Australian company, has spent more than US$40 million on drilling and exploration works on the Kitumba Mine project located in Mumbwa District. Intrepid Board representative and non-executive director, Richard Baumfield said the Australian Stock Exchange-listed firm underwent restructuring and had since merged with Blackthorn Resources to acquire a 100 per cent stake in the Kitumba Mine which potentially contains.... Read more »

Posted on : Monday , 21st December 2015

Kogi to Commission 1.6 Billion Mega Motor Park Soon

Lokoja — Governor Idris Wada of Kogi State said yesterday that the N1.6 billion worth ultra modern mega motor pack being constructed in Lokoja will be ready for commissioning before he hands over to the next administration in January 2016. Wada who said this after inspecting the project at Felele area of Lokoja, expressed satisfaction with the quality of job done so far by the contractor, adding that only finishing touches are.... Read more »

Posted on : Monday , 21st December 2015

Chinese Firm to Build Leading Steel Pipe Plant in Nigeria

Lagos — Chinese steel pipe manufacturer, Jiangsu Yulong Group, on Wednesday held a groundbreaking ceremony for a large-scale factory in Nigeria's Lagos Lekki Free Trade Zone. The groundbreaking ceremony was attended by government officials, Chinese envoys and representatives from private companies. Jiangsu Yulong Group, which was listed on China's Shanghai Stock Exchange in November, 2011, is exploiting international.... Read more »

Posted on : Monday , 21st December 2015

Petrol Is Nigeria's Biggest Import in Q3

Premium motor spirit (PMS), popularly called petrol, has emerged Nigeria's biggest import out of a total value of Nigeria's imports of N1.69 trillion in the third quarter of 2015, the Nigerian Bureau of Statistics has said. In its latest foreign trade statistics published on Thursday, the Bureau said that durum wheat and imported complete knocked-down (CKD) motorcycles by established manufacturers ranked second and third out of a list.... Read more »

Posted on : Monday , 21st December 2015

Sonangol and Eni Sign Deal for Refinery Optimization

Luanda — A compromise agreement, which will result in the updating of plants of the refineries of Luanda and Lobito (Benguela), was signed recently by the chairperson of the Board of Directors of Sonangol EP, Francisco de Lemos José Maria, and the CEO of the Italian oil company (ENI), Cláudio Descalzi. According to a press note from Sonangol that reached Angop in Luanda, the agreement also provides the optimization.... Read more »

Posted on : Monday , 21st December 2015

JA Solar to supply solar modules in Africa

leading Chinese solar products manufacturer, JA Solar Holdings Co., Ltd., has been awarded a contract to supply 100MW of photovoltaic solar modules in Zimbabwe. The project will be made up of combined installed capacity of 300 MW given that the solar modules will be supplied to one of the first 3 large-scale ground-mounted solar power facilities in Zimbabwe under 3 contractors. The other two contractors are Intratrek.... Read more »

Posted on : Monday , 21st December 2015

Symbion Power Completes Deal for East African 50MW Power Plant

Symbion Power Lake Kivu Ltd, a subsidiary of American firm Symbion Power LLC has signed a 25-year power purchase agreement (PPA) with the Rwanda Energy Group (REG) for a 50 Megawatt (MW) methane gas to power project. The official signing involved Symbion Power CEO Paul Hinks, REG CEO Jean-Bosco Mugiraneza, and Minister of Infrastructure James Musoni. The seal sealed see an implementation activities including detailed.... Read more »

Posted on : Monday , 21st December 2015

HDPE pipes and fittings aiding Green Industrialization in Africa

Going HDPE makes ‘green’ sense Once upon a time HDPE pipes and fittings were merely viewed as alternative products in a pile of numerous options for infrastructure projects in Africa.Now they are becoming a necessity, their importance enhanced by contemporary demands of our times. Those who have been observant can note an attitude shift in the choice of construction materials worldwide, with growing preference.... Read more »

Posted on : Monday , 21st December 2015

Turkana Wind Power Supply Starts 2016

The Lake Turkana wind project will start generating power next year, Denmark Foreign Affairs minister Kristian Jensen said yesterday. The project, funded by the Danish government, will contribute 310 Megawatts of wind energy to the national grid. Jensen spoke at the World Trade Organization conference at KICC, Nairobi. The project will use 365 wind turbines, each with a capacity of 850KW. It will provide 17.... Read more »

Posted on : Saturday , 19th December 2015

Uganda: Nairobi Meeting Could Lead to International Trade Deal

NAIROBI: There are signs that a deal about fair international trade will be struck in Nairobi today, although there are few indicators that Africa's main interests such as easier access to European markets and the removal of subsidies to farmers in richer nations will form part of the agreement. Some negotiators at the World Trade Organisation's tenth ministerial meeting in Nairobi, especially those from Africa, feel they are debating.... Read more »

Posted on : Saturday , 19th December 2015

Zimasco Signs U.S.$12 Million Lease Agreement

At full throttle, Portnex International is expected to process 240 000 tonnes of raw chrome per annum which translates to 100 000 tonnes of ferrochrome over the same period. The country's biggest ferrochrome smelter and miner, Zimbabwe Mining and Smelting Company (Zimasco) has signed a $12 million lease agreement with South African based firm, Portnex International to operate its furnaces. The five-year lease agreement has breathed life.... Read more »

Posted on : Saturday , 19th December 2015

New Ice Plants for Seychelles Blue Economy

Victoria — Fishermen in the Seychelles will soon benefit from an increase in the production of ice. The Seychelles Fishing Authority (SFA) has purchased two new German-made ice plants, with each able to produce 10 tons of ice per day. The investment nearly doubles the ice production capacity in the country to 47 tons per day, officials say. Seychelles, an island nation in the western Indian Ocean, has experienced.... Read more »

Posted on : Saturday , 19th December 2015

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