Politics

Guinea losing patience with Rio Tinto

Guinea losing patience with Rio Tinto

Guinea is stuck in a painful marriage with Rio Tinto Group. Business Day reports that the West African nation is unhappy that Rio is taking so long to develop Simandou, the world’s largest untapped iron-ore deposit. But with a $20bn bill and prices near a seven-year low making major companies rein in spending, it is difficult […]

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Nigeria oil JVs to control budgets

Nigeria oil JVs to control budgets

Nigerian President Muhammadu Buhari has taken his first steps towards overhauling the troubled state oil firm by giving its exploration joint ventures control over their own budgets as a way to overcome chronic cash shortages, reports Reuters Africa. Corruption and mismanagement at the Nigerian National Petroleum Corporation have hampered an industry that provides 70 percent […]

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Former Nigeria oil minister arrested

By on October 26, 2015 in Civil Society, Politics, Topical Issues with 0 Comments
Former Nigeria oil minister arrested

Nigeria has confirmed the arrest in London of former oil minister Diezani Alison-Madueke on suspicion of bribery and money laundering. ‘Nigeria is aware of the arrest of the former petroleum minister in London on money laundering charges,’ presidential spokesman Garba Shehu is quoted in Yahoo News report as saying. ‘The government has been informed and […]

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Political upheavals could affect Kenya’s oil exploration, says report

By on October 15, 2014 in Conflict, Oil & Gas, Politics, Upstream with 0 Comments
Political upheavals could affect Kenya’s oil exploration, says report

Political upheavals blamed for violent flare-ups in Kenya could be a major hindrance to the emerging multi-billion-shilling oil and gas exploration activities, a market research firm has said. In an eight-page report, the UK-based firm Research and Markets says the future looks extremely bright especially after “commercial recoverable reserves” of nearly 1 billion barrels were […]

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Uganda’s hopes in extractives sector lie in EITI

Uganda’s hopes in extractives sector lie in EITI

Uganda has high expectations in the extractives sector, especially with an addition of oil and gas resource to the basket of the abundant mineral resources. However, these hopes can only be realised if the country agrees to sign up to the Extractive Industries Transparency Initiative (EITI). The EITI is an international standard for transparency in […]

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MUST READ: Tanzania: Leaked Agreement Shows Tanzania May Not Get a Good Deal for Nautral Gas

MUST READ: Tanzania: Leaked Agreement Shows Tanzania May Not Get a Good Deal for Nautral Gas

BY BEN TAYLOR, 4 JULY 2014 ANALYSIS Natural gas is on the scene in Tanzania, and expectations are sky high. There are those who see this as the end of aid dependency, or the solution to the government’s perennial money troubles. And of course, there are others who see this as a personal opportunity to […]

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Burundi state takes stake in mine

By on July 7, 2014 in Mining, Politics with 0 Comments

Burundi’s government took a 15 percent stake in a project to build a nickel and iron mine led by Burundi Mining Metallurgy (BMM), Danko Konchar, the chief executive of Kermas Group, the majority owner, said last week. The state’s stake in Burundi Musongati Mining, of which BMM holds the remaining 85 percent interest, was part of […]

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Sierra Leone president sacks chief of staff over timber, mine deals

By on July 2, 2014 in Mining, Politics with 0 Comments

Sierra Leone’s president has sacked his chief of staff, accusing him of lack of transparency in a mining deal and involvement in the illegal export of timber from the country, the president’s office said in a statement on Monday. The firing is likely to add weight to accusations that high-level corruption is crippling Sierra Leone’s […]

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Nigerian fishermen reject Shell’s US$50m

By on July 1, 2014 in Oil & Gas, Politics with 0 Comments

Lagos – Lawyers say thousands of Nigerian fishermen have rejected an offer of $50 million (about R530 000 million) from Royal Dutch Shell for “some of the largest oil spills in history.” The offer comes as a British court Friday ruled the oil company can be legally liable for oil thefts if it fails to […]

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Senegal to receive $150m in damages from ArcelorMittal

By on June 24, 2014 in Iron Ore, Mining, Politics with 0 Comments

Arcelormittal has agreed to pay Senegal $150-million in cash as damages to settle a dispute with the West African nation over the failed Faleme iron-ore mine deal, Senegal’s government spokesman said on Friday. Senegal had been seeking $750-million in damages after winning a case at the International Chamber of Commerce’s arbitration court in Paris. The […]

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