Zimbabwe: Metallon's Revenue Up Seven Percent

Metallon Corporation's revenue for the first half of the year went up 7 percent to $58 million from around $54 million recorded in the first half of last year spurred by an increase in production during the period under review.   Gold production for the period increased to 48,143 ounces from 45,524 ounces for the first half 2014 despite lower prices recorded during the period.   Average mineral price recorded during the period was lower at $1 203 per ounce compared to $1.... Read more »

Posted on : Friday , 25th September 2015

GE Healthcare Commits $300 Million to Emerging Market Health

E Healthcare, the $18 billion healthcare technology division of GE (NYSE: GE), announced the creation of a new business unit, Sustainable Healthcare Solutions (SHS), that will develop high-value, low-cost technologies and healthcare delivery solutions across multiple care settings. The new organization will invest $300 million as part of a multi-phase effort to develop a more robust affordable healthcare portfolio for customers. The unit will combine GE Healthcare's operations in.... Read more »

Posted on : Friday , 25th September 2015

Gemfields mine in Zambia richer than initially thought

Emeralds and rubies miner Gemfields (LON:GEM) said Wednesday an independent report by consultancy firm SRK shows the Kagem mine in Zambia is set to produce 1.10 billion carats over a 25 year mine life, which is more than initially anticipated. The company said the total amount of indicated and inferred mineral resource at the emerald mine, 75% owned by Gemfields, is now estimated at 1.8bn carats worth of the green gemstone and beryl. According to SRK, the company needs to spend.... Read more »

Posted on : Friday , 25th September 2015

Tanzania: Chauma to Turn Mwanza Into Industrial Hub

Chama cha Ukombozi wa Umma (CHAUMA) presidential candidate Mr Hashim Rungwe has assured Mwanza residents that his new government will transform the region into an industrial hub where unemployment will become history. He said during a campaign meeting held at Buswelu in Ilemela district on Sunday that Mwanza had many industries which were privatized and others that remained inoperative and left to collapse. If CHAUMMA were voted into power, Mr Rungwe said, the privatized.... Read more »

Posted on : Thursday , 24th September 2015

NHC launches sale of new Mtwara houses

Officials of the state-owned real estate developer say the project is part of the NHC ten-year strategic plan spanning 2015 and 2025. Speaking at the launching ceremony in Dar es Salaam, the NHC's Acting Director of Sales and Marketing, Mr Tuntufye Mwambusi, said the Bank of Tanzania (BoT) has already booked 10 of the 30 residential houses.   "The Shangani residential apartments are located on the outskirts of Mtwara town which is adjacent to other residential and social.... Read more »

Posted on : Thursday , 24th September 2015

Envoy touts Turkish investment

Ambassador Eralp said that working with stakeholders in the tourism sector was among her top priorities and insisted that she would work hard to ensure the sector grows and attracts a good number of visitors from Turkey.   She also offered TANAPA an opportunity to advertise with Turkish Airline Magazine, Skyline Magazine and said the move would assist the national parks authority to attract tourists from over 60 destinations worldwide where the airline.... Read more »

Posted on : Thursday , 24th September 2015

Tanzania: Zanzibar Free to Develop Its Oil, Gas Industry, Says Minister

The Minister for Natural Resources, Mr Ramadhan Abdalla Shaaban, has said that Zanzibar is free to develop its oil and gas industry after the Union Parliament endorsed 'Petroleum Act 2015' last year. "I am the Minister responsible for oil and gas. If one wants to get proper information then it's from me..." Mr Shaaban said in Pemba Island, while responding to claims that Zanzibar has no legal powers to utilise its natural resources, which have been under Union matters since.... Read more »

Posted on : Thursday , 24th September 2015

Dar, Oslo vow to enhance economic, trade relations

The Norwegian Minister for Industry and Trade Ms Monica Mæland said at the launching of Yara Fertiliser Terminal in Dar es Salaam on Wednesday that Tanzania’s commitment to agricultural sector development has been impressive making it attractive to global investors due to its huge potentiality.   “I hope Yara will continue to contribute significantly to agriculture growth and Tanzania remaining committed to creating friendly business environment,” she.... Read more »

Posted on : Thursday , 24th September 2015

Mwadui mine life extended 20 years

The mine, partly owned by Petra Diamonds of South Africa, development plan is expected to deliver 350,000 carats per annum (ctpa) from a grade of approximately 7.0 carats per hundred tonnes (cpht).   A statement recently, shows that Petra’s current mine plan for Williamson, in Mwadui in Shinyanga, has a life extending to 2033. “ÉBut given that the Mwadui kimberlite hosts a major resource of 33.1 million of carats (Mcts), there is potential to extend the.... Read more »

Posted on : Thursday , 24th September 2015

Telecom firm supports Mbeya bee-keepers

The telecom firm through its Airtel Fursa programme, gave the group 20 bee-hives, one honey extractor, two bee protection suits and 600 bottles.   Airtel Corporate Social Responsibility Manager, Ms Hawa Bayumi, said at a handing over ceremony in Mbeya over the weekend that , “modern equipment being given will assist them to improve the quality of their operations and output.”   She also added that, the initiative to empower young entrepreneurs with equipment.... Read more »

Posted on : Thursday , 24th September 2015

Kenya: Lake Turkana Power Farm to Produce 90 Megawatts Next Year

Kenya will get the first 90 megawatts from Lake Turkana Wind Power project in 2016 when the first production will be loaded onto the national grid. The biggest wind farm in sub Saharan Africa will run into full capacity in April 2017 transmitting a total of 310 megawatts to the national grid through a 428km overhead line that is being constructed by the Kenya Electrical Transmission Company. The Sh70 billion project located in Loyangalani District, Marsabit West County will be.... Read more »

Posted on : Thursday , 24th September 2015

Agricultural sector set up for speedy transformation

The Yara fertilizer Terminal that was launched by President Jakaya Kikwete, last week, has the capacity to hold 120,000 tonnes annually, enough to supply the local market and the rest of East Africa.   The installed capacity of the Minjingu fertilizer factory is about 50,000 tonnes, thus Yara’s introduction. It is bringing new impetus into the farming methods that need fertilizer to transform the agricultural sector.   The US$25 million Yara investment is the first.... Read more »

Posted on : Thursday , 24th September 2015