In the wake of oil price drop, capex needs a rethink

In the wake of oil price drop, capex needs a rethink

Oil and gas explorers have to rethink their capital expenditure (capex) budgets on exploration activity across the African continent in the wake of the significant drop in the global oil price, advisory firm PwC said. ‘Oil and gas explorers will be relooking at their budgets and deciding where to allocate their limited capital spend given […]

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Seeking clarity on Zimbabwean mining tax

Seeking clarity on Zimbabwean mining tax

By on March 2, 2015 in Mining, Regulation, Taxation with 0 Comments

Aquarius Platinum is seeking clarity from the Zimbabwean government on a tax that could derail an $82m expansion project at the Mimosa mine it shares with Impala Platinum . Business Day reports that the Zimbabwean government tabled an export tax of 15% on revenue in 2013 to force mining companies to beneficiate their minerals in the country. […]

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Mozambican Government enabling transport of coal

Mozambican Government enabling transport of coal

By on March 1, 2015 in Coal, Infrastructure, Mining with 0 Comments

Mozambican Transport Minister Carlos Mesquita has announced that the government is establishing all the necessary conditions to guarantee that mining companies are able to move the coal they extract from the Moatize coal basin, in the western province of Tete , to the sea, says an AIM report. The companies have long expressed concern at […]

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Kenya US$2bn raised for oil stakes

Kenya US$2bn raised for oil stakes

By on February 28, 2015 in Oil & Gas, Upstream with 0 Comments

Kenya’s state-run National Oil Corporation is expected to raise US$2bn to take stakes in oil blocks on behalf of the government once they near commercial production, reports Reuters . Kenya estimates its crude oil reserves to be about 1bn barrels and the government can legally take a stake in oil blocks under commercial production through National […]

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South African led consortium building $2.2bn photovoltaic park

South African led consortium building $2.2bn photovoltaic park

By on February 27, 2015 in Renewables, Solar with 0 Comments

SA company GSC Energy will start work on a 500MW solar photovoltaic park costing about $2.2bn in Cameroonin the second half of this year, founder and chairman Steven Moti said in a Business Day report. GSC Energy heads a consortium that includes Austria’s Sun Value , and two other SA firms, Tricom Structures and Conco […]

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Zambia: Reverse of mining tax decision may be too late

Zambia: Reverse of mining tax decision may be too late

By on February 26, 2015 in Mining, Taxation with 0 Comments

Plans by Zambia’s new president to reverse a hike in mining royalties may come too late to revive investment in the sector, with confidence among foreign mining companies shaken and neighbouring Democratic Republic of Congo looking a potential better bet. Engineering News reports that eager to fill a hole in its finances, the government said last […]

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Mining an important channel for investment

Mining an important channel for investment

By on February 25, 2015 in Mining with 0 Comments

Despite the challenges faced by the mining industry in Africa, mining continues to be the most important channel for foreign investment for several countries on the continent. ‘Well-considered investment provides opportunities for real social gains. The ideal outcome is for mining to help countries become more resilient,’ Rio Tintodiamonds and minerals CEO Alan Davies said […]

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Africa’s Energy potential continues to grow

Africa’s Energy potential continues to grow

By on February 24, 2015 in Home, Mining, Oil & Gas, Power, Regulation, Renewables with 0 Comments

Africa had the potential to be one of the biggest providers of energy in the world, but was still seen as a ‘good for nothing’ continent, particularly with regard to USinvestment, World Energy Council (WEC) Africa vice-chair Bonang Mohale is quoted in a Polity report as saying. Addressing delegates at the recent Africa Energy Indaba […]

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Solarcentury launches commerical solar arm for East Africa

Solarcentury launches commerical solar arm for East Africa

By on February 20, 2015 in Renewables, Solar with 0 Comments

Global PV developer, Solarcentury, is formalising its growing operation in East Africa by joining forces with Kenyan firm, East African Solar, to form Solarcentury in East Africa. The new company will deliver solar projects throughout East Africa, where solar is emerging as a promising alternative to expensive diesel-generated power. Both companies have solid experience of […]

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72MW project to boost Cameroon’s growing PV pipeline

72MW project to boost Cameroon’s growing PV pipeline

By on February 19, 2015 in Solar with 0 Comments

The African Development Bank is to back a 72MW PV project in Cameroon, pushing the country’s solar pipeline close to 200MW. The AfDB’s Sustainable Energy Fund for Africa is to release a US$770,000 grant to JCM Greenquest Solar Corporation to develop plans for what would be the Central African country’s first independent power producer (IPP) […]

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