Market News Page No. 439| Africa Business News | Afrotrade

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Eritrea: Sunridge Gold Lands Mining Licences for Asmara Project

Sunridge Gold Corp (CVE:SGC) has secured three key mining licences in Eritrea for the Asmara project. Asmara Mining (AMSC), a joint venture 60% owned by the Canadian group, has been awarded licences spanning 19.3 square kilometres and encompassing four advanced deposits – namely Emba Derho, Adi Nefas, Gupo Gold and Debarwa. These areas were all incorporated into the feasibility study for Asmara, a proposed copper-zinc-gold mining.... Read more »

Posted on : Tuesday , 20th October 2015

Tanzania: Black Rock Mining Swells Graphite Exploration Target at Mahenge

Black Rock Mining (ASX:BKT) has boosted the exploration target at its highly prospective Mahenge graphite project in Tanzania. After incorporating new exploration data from mapping, trench, pit and drill results, the target increased to between 84 million tonnes to 115 million tonnes at 8.66% to 10.34% total graphitic carbon (TGC). The target is based upon the Ulanzi, Cascade and Epanko north lodes. It does not include the Kituti.... Read more »

Posted on : Tuesday , 20th October 2015

Tanzania begins the construction of largest port in East Africa

Tanzania begins the construction of largest port in East AfricaTanzania has begun the construction of what it says will be the largest port in East Africa at a cost of about $11bn. Backed by China Merchants Holdings International and Oman’s State Government Reserve Fund, the project is expected to be a game changer in Tanzania’s quest to industrialize. Officials in Tanzania believe that the construction of largest port in East.... Read more »

Posted on : Tuesday , 20th October 2015

Construction firm Dorra announces plans to build 10,000 houses in Egypt

Construction firm Dorra Group has announced plans to construct 10,000 residential houses in Egypt in a bid to tackle the current demand for housing in the country. Managing director Omar Dorra said they intend to target the youth in their housing projectl. He said that they recently submitted a request to the Ministry of Housing to develop a residential project for youth and middle income persons. “We have not yet received.... Read more »

Posted on : Tuesday , 20th October 2015

East Africa: Kenya to Reintroduce Vat On All Oil Products

Fuel prices in Kenya are expected to increase sharply next year as the government plans to increase taxes on the commodity to raise an additional Ksh16 billion ($152.62 million). The government will impose 16 per cent value added tax (VAT) on oil products to shore up its domestic revenues, which have come under pressure in the wake of burgeoning spending, corruption and wastage. The tax, which is to be enforced by September.... Read more »

Posted on : Monday , 19th October 2015

Ethiopia: Shints Under Expansion

Equipped with high tech machinery SHINTS entered European market within a short period of time with the production of outdoor and motorcycle apparels. A Korean-based SHINTS ETP Garment PLC that penetrated the European market within a short period of time announced plan to undertake expansion work. The factory marked its first anniversary yesterday. Speaking on the occasion, Industry State Minister Tadesse Haile noted that.... Read more »

Posted on : Monday , 19th October 2015

Zimbabwe: Furniture Makers Target to Raise Capacity Utilisation

FURNITURE manufacturers are targeting to increase capacity utilisation from the current 30 percent, but say Government should implement measures it proposed to turnaround the sector's fortunes. Some of the measures mooted by Government include introduction of a manufacturers' rebate for duty free importation of selected raw materials by approved manufacturers. Furthermore, Government increased customs duty on wooden, plastic.... Read more »

Posted on : Monday , 19th October 2015

Nigeria: Ambode to Commission Cadbury's New Manufacturing Plant

Lagos — The Governor of Lagos State, Akinwunmi Ambode, is expected to commission Cadbury's new state-of-the- art manufacturing plant on Friday October 16. Also expected at the commissioning ceremony is the Executive-Vice President, Integrated Supply Chain, Mondelēz International, Mr Daniel Myers and top government officials. The new plant will boost Cadbury's production capacity by nearly 37 per cent to meet the.... Read more »

Posted on : Monday , 19th October 2015

Tanzania: Dangote Cement in Tanzania Coal Deal

Dangote Cement has signed two agreements that will enable its $600 million cement factory in Tanzania to generate 150MW from coal. One agreement is with Tancoal, to supply coal to the Dangote factory. The cement factory has also signed a coal prospecting licence for a site in Mbinga, southern Tanzania. However, the factory will first run on diesel until it is able to generate its own electricity from coal. The deals ends a.... Read more »

Posted on : Monday , 19th October 2015

Kenya Has a Billion Barrels of Oil That Might Not Be Going Anywhere

Fidgety oil companies and investors heaved a sigh of relief in August when Kenya and Uganda announced they had picked a route for the world’s longest heated pipeline. Finally, there was a plan for getting the estimated 1 billion barrels in Kenya’s remote northwest out of the country. The proposed route cut from northern Uganda’s Albertine region, into Kenya, through the Lokichar Basin, and then southeast before terminating.... Read more »

Posted on : Monday , 19th October 2015

Uganda: 200m Metric Tons of Iron Ore Discovered in Kigezi

Aerial geological surveys conducted by the Geological Surveys and Mines Directorate (GSMD) in Kigezi sub-region in southwestern Uganda reveal 200 million metric tonnes of iron ore deposits. Godfrey Bahati, the acting Director of GSMD in the Ministry of Energy and Mineral Development says that the surveys conducted in financial year 2014/15 showed massive deposits of iron ore in Kabale, Kisoro and Kanungu districts. He says preliminary.... Read more »

Posted on : Monday , 19th October 2015

Kibos set to pioneer industrial sugar milling

Kenya is set to start producing its first batch of industrial sugar when a Kisumu-based miller opens a special unit to handle the commodity next month. Kibos Sugar factory will become the first sugar miller in eastern and southern Africa to manufacture the refined sugar meant for industrial use. Users of the commodity are normally forced to import from Brazil under special licences that come with tax concessions. Industrial sugar is an.... Read more »

Posted on : Monday , 19th October 2015

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