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Kenya starts construction of 83 MW geothermal plant

4th December 2018 Kenya has started building a geothermal power plant to add 83 MW of capacity to the national grid, the state-owned power generation utility said on Tuesday.  Geothermal power is Kenya's second largest source of electricity after hydroelectric power. The country has total installed power capacity... 

Oman's Raysut Cement eyes acquiring Kenya's ARM Cement – statement

4th December 2018 Oman's Raysut Cement said on Tuesday it plans to acquire Kenya's ARM Cement, which went into administration in August, as part of its expansion plans. Raysut has expressed its interest to the administrators to acquire the company, it said in a statement. 

South Africa emerges from recession as farming, manufacturing jump

4th December 2018 Farms and factories dragged South Africa out of its first recession in almost a decade, data showed on Tuesday, as the economy grew by more than expected in the third quarter. The positive data is a boost for President Cyril Ramaphosa, who has pledged to re-start growth after a decade of... 

The final frontier: who owns the oceans and their hidden treasures?

4th December 2018 Ransom-hungry pirates, polar explorers, offshore oil giants - the race for the riches of the world's final frontier is on. From Thailand to Alaska, the battle to tap ever-dwindling resources from minerals to fish is spurring new conflicts over who has the right to the treasures of the deep seas. 

Malaysia sets licence renewal conditions for rare earths miner Lynas

4th December 2018 Malaysia on Tuesday set conditions for future renewal for rare earths miner Lynas' licences to operate in the country, including the removal of radioactive residues. The Energy and Environment Ministry also said in a statement that Lynas must submit an action plan for non-radioactive waste... 

Equinor set to start talks with Tanzania over LNG project

4th December 2018 Norway's Equinor is ready to start talks with the Tanzanian government over developing a liquefied natural gas (LNG) project to produce a huge offshore discovery in the deepwater block 2, the company said on Tuesday. Tanzanian President John Magufuli asked his government to proceed with... 

Nigerian court adjourns case between MTN and central bank to December 12 – judge

4th December 2018 A Lagos judge on Tuesday adjourned a hearing in an $8.1-billion dispute between South African telecoms firm MTN Group and Nigeria's central bank until December 12 after lawyers said they wanted to report back on settlement talks. The central bank has accused the firm of illegally sending... 

Sudan allows local private sector firms to export gold

4th December 2018 Sudan will allow local private sector firms to export gold, Prime Minister Moataz Moussa said on Monday, relaxing the central bank's grip over exports of the metal as the government tries to shore up the country's struggling economy. The measure is part of efforts to stem smuggling of gold, one... 

Canada's construction steel buyers face tariff 'roulette'

4th December 2018 Canadian steel buyers are racing to get construction steel into the country to claim first-come, first-serve exemptions from tariffs that were meant to stabilize the country's market in the wake of US President Donald Trump's metals tariffs. With steel prices already high, the companies that... 

Congo declares cobalt 'strategic', nearly tripling royalty rate

4th December 2018 Democratic Republic of Congo has declared cobalt a "strategic" substance, a government decree showed on Monday, nearly tripling the royalty rate miners will pay on the key component in electric batteries to 10%. Prime Minister Bruno Tshibala signed the decree, which is dated November 24, despite... 

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