Market News Page No. 431| Africa Business News | Afrotrade

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Newly constructed Mombasa port terminal to start operation in mid 2016

Multi-donor agency Trade Mark East Africa (TMEA), has hinted that the newly constructed Mombasa port terminal which cost US$ 30.9bn will be operational in June, 2016. Dr. Chris Kiptoo, the TradeMark East Africa (TMEA) Kenya director said that the agency will hand over the facility to the Kenya Ports Authority (KPA) by mid next year. The terminal which has a capability of increasing container space by 450,000 twenty-foot equivalent.... Read more »

Posted on : Friday , 16th October 2015

Nigeria's Crude Oil Production Increases By 34,000 Barrels Per Day

Nigeria's crude oil production has increased by 34,000 barrels per day (bpd) from the 1.865 million bpd in the month of August to 1.9 mbpd in September, according to the latest report of the Organisation of Petroleum Exporting Countries (OPEC). According to OPEC in the report released on Monday, total crude oil production from member countries increased by 0.11 mbpd to average 31.57 mbd in September. Besides, the International Energy.... Read more »

Posted on : Friday , 16th October 2015

Ethiopia, Austria to Strengthen Trade and Investment Relations

International Affairs Director General with Austrian Foreign Affairs Ministry Alexander Marschik said that Austria wants to strengthen bilateral relations with Ethiopia especially in the area of trade, investment and security. The Director General so stated during talks with Ethiopia Foreign Affairs State Minister Ambassador Berhane Gebre-Kristos here yesterday. Alexander Marschik said that he has discussed with the State.... Read more »

Posted on : Friday , 16th October 2015

Cuando Cubango - Mining Project in Advanced Stage

Luanda — The Cuito and Cuchi Mining Project in southeastern Cuando Cubango province is in very advanced stageand with a good dynamics. This was said Wednesday in Luanda by the minister of Geology and Mining , Francisco Queiroz. The minister was speaking to journalists after attending the ordinary Joint Economy and Real Economy Commissions of the Cabinet Council, chaired by the head of State, Jose Eduardo dos.... Read more »

Posted on : Friday , 16th October 2015

Blanket Mine Gold Output Up 5 Percent

Caledonia Mining Corporation says Blanket Mine delivered 10 927 ounces of gold in the third quarter to September 30, a 5 percent increase from the previous quarter. Third quarter production was also 10,5 percent higher than the same period last year in which 9 890 ounces were produced. In an update, Caledonia said Blanket mine remained on track to achieve target production for 2015 of 42 000 ounces. Commenting on the.... Read more »

Posted on : Friday , 16th October 2015

Djiboutis New Deal With This East African Nation Will Expand The Capacity Of Its Port

Ethiopia and Djibouti have signed a deal worth $1.55 billion for the construction of a 550km refined petroleum products pipeline linking the two countries. The 20-inch pipeline which will transport diesel, petrol and jet fuel from Damerjog port in Djibouti to Awash terminal in central Ethiopia has been contracted to Black Rhino Group and Mining Oil & Gas Services (MOGS). Construction work is scheduled for completion in 2018. The pipeline.... Read more »

Posted on : Friday , 16th October 2015

Sudan, Algeria Agree to Cooperate in Areas of Oil and Gas

Sudan and Algeria agreed to cooperate in areas of oil, gas, training and scientific research. Minister of Oil and Gas, Dr Mohammed Zayed said during meeting his Algerian counterpart at the sideline of Al-Bashir-Boutaflika Summit that he forwarded a number of blocks in domains of oil, gas and development of fields, besides cooperation in areas of training a nd scientific research, studies and laboratories. The Minister said Algeria has.... Read more »

Posted on : Friday , 16th October 2015

Kibo Mining Upbeat on Mbeya Coal Mine as DFS Progresses

Kibo Mining (LON:KIBO) has finished work on the first phase of its definitive mining study (DFS) for the coal mine at its integrated power project in Tanzania. The work included a 820m diamond core drill programme to confirm slope angles of pit design, coal metallurgy to ensure to determine the power station design and data to upgrade the resource in the next phase of the DFS. Louis Coetzee, Kibo Mining’s chief executive, said:.... Read more »

Posted on : Friday , 16th October 2015

Energy Ministry Launches Western Area Extension Project

The Ministry of Energy Wednesday, 7 October launched a new project for the procurement, installation and commissioning of reinforcement and extension of minimum and low voltage network and supply of prepaid meters and vending stations in the Western area, almost 40 years since a similar project was carried out in the country. The project is financed by the Islamic Development Bank and undertaken by Tunisian group STEG International.... Read more »

Posted on : Thursday , 15th October 2015

East Africa: Renewable Energy Can Lift African GDP

Johannesburg — The African continent could generate nearly a quarter of its energy needs using indigenous, clean, renewable energy by 2030 writes SHARON KYATUSIIMIRE. "Africa holds some of the best renewable energy resources in the world in the form of biomass, geothermal, hydropower, solar and wind," Adnan Z. Amin, the IRENA Director-General said last week. "This, combined with the precipitous drop of.... Read more »

Posted on : Thursday , 15th October 2015

Uganda 'Most Improved' in Trade, Investment-Friendly Environment

Uganda is the most improved economy in the East African region in terms of creating a conducive environment for trade and investment, according to the latest Global Competitiveness ranking. Uganda, which ranked 115 (from 122 last year) of the 144 economies surveyed globally, was followed by Rwanda, whose economy improved from position 62 last year to 58, while Tanzania moved one position to rank 120 globally. Although Burundi.... Read more »

Posted on : Thursday , 15th October 2015

Africa's First Ice Cream Factory Opens

A United Kingdom-based multinational consumer goods company has opened a R600 million ice cream factory, said to be the first of its kind in the continent. Opened in Midrand, South Africa the facility is one of 40 Unilever ice cream factories across the globe. Officials said the investment demonstrating the confidence Unilever had in South Africa. "Unilever is optimistic about growth demand in the ice cream.... Read more »

Posted on : Thursday , 15th October 2015

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