Market News

 While the global gold industry injected more than US$171 billion into the world’s economy in 2013, the countries that benefitted the most from such contribution were mainly African and Asian nations, the World Gold Council says.   Even though the focus of the report released this . . .

 The Ethiopian government has entered a gold development agreement with UK-based gold mining company Kefi Minerals goldmine-pixabayKefi Minerals has conducted a feasibility study, which has revealed that there are 28 tonnes of gold. (Image source: Pixabay) Ethiopia’s minister of mine Tolo . . .

 The Ministry of Energy and Mineral Development said the deposits were discovered and quantified following a series of recent airborne geophysical surveys. In its latest review of the country’s mineral sector, the ministry said the new ore reserves were discovered at Buhara (48mn tonnes) . . .

 The Board of Directors of the African Development Bank (AFDB) approved to grant USD 70.5 Million to finance the Tanzania Power Sector Reform and Governance Support Programme (PSRGSP).   The objective of the operation is to promote inclusive growth and enhanced economic competitiveness t . . .

    Kyerwa Tin Company Ltd., a subsidiary of Tanzania State Mining Corporation (Stamico) and Dar Gold DMCC Ltd of Dubai signed a tin mining trade agreement to uplift small scale tin mining industry of Kyerwa district.   The agreement was signed recently in Dar Es Salaam by the Act . . .