Market News

Petra Diamonds has paid 5.8 million US dollars (about 12bn/-) to Tanzania in various taxes making the country the highest paid in nations where the firm operates.   The diamond firm, registered in London Stock Exchange, made a total payment of 8.9 million US dollars (18bn/-), where Tanzania p . . .

Lindi — Minister for Energy and Minerals, Prof Sospeter Muhongo, has ordered the commissioner of minerals, gypsum miners and owners of industries to resolve their differences and make sure they agree on payment and prices so as to boost the gypsum mining business in the country.   Prof . . .

Dar es Salaam — Wärtsilä, a Finnish corporation which manufactures and services power, has promised to supply a 40 MW 'Smart Power Generation' plant to Geita Gold Mining Limited in Tanzania in the beginning of 2018.   The company which is one of the Independent Power Producers . . .

Dar es Salaam — Charcoal demand in Tanzania is likely to increase from 2.4 million to over 5 million tonnes annually by 2030 unless an affordable alternative cooking energy is found, experts have said.   To minimise environmental impacts of high demand they say the government must forma . . .

 The Tanzanian Ministry of Energy and Minerals recently granted a 10-year mining license to Australian resource company Graphex Mining (ASX:GPX) for the Chilalo graphite project in south-east Tanzania. The mining license has been granted for a period of 10 years and covers an area of 10sq. km . . .