Barrick Gold (CN:ABX) chairman John Thornton met with Tanzanian president John Magufuli on Wednesday to discuss the issues surrounding Acacia Mining (LN:ACA) however the outcome of the meeting is unclear, the Mining Journal reports. Continue reading
In a bid to boost energy access in rural Tanzania, the government of the Republic of Korea, yesterday, revealed plans to open a training centre for renewable energy technology in Arusha Region. Continue reading
Tanzania’s president fired the mining minister and the chief of the State-run mineral audit agency on Wednesday, after receiving a report into whether mining companies were under-declaring the value of their exports.
President John Magufuli’s decision, announced in a speech, signals an escalation of tensions between the government and the industry, which has denied engaging in tax evasion.
Mining accounts for about 4% of Tanzania’s gross domestic product.(source: Miningweekly)
Acacia Mining (LN:ACA) may have to consider operational shutdowns within its Tanzania-focused gold portfolio, after incidents this week suggested there would be no quick fix for a concentrate ban introduced in March that significantly affects revenues. Continue reading
The idea that Africa could become an LNG destination is not new. It has been proposed for many years in countries as far apart as South Africa, Morocco and West Africa. Sellers’ attention, though, was previously directed toward the more lucrative and larger Asian markets and traditional creditworthy buyers able to commit to a 20-year oil-indexed long-term contract. But over the past two years the global LNG market situation has radically changed.
Tanzania’s government has prepared a draft agreement with international oil companies willing to take part in a $30-billion LNG export project, and has sent the draft for ministerial review, local media reported on Wednesday, citing a senior official at the Ministry of Energy and Minerals. Continue reading
Wentworth Resources, the East Africa-focused oil & gas company, has announced an update on operations in Tanzania and Mozambique.
Wentworth reports that the demand for the Company’s discovered gas reserves from Mnazi Bay, Tanzania is firming up with current gross volumes being maintained within the previously guided range of 40 – 50 MMscf/d and first quarter production averaging 43 MMscf/d. As expected, Tanzania Petroleum Development Corporation (‘TPDC’) commenced gas delivery to a new industrial customer, Goodwill Tile Factory in the first quarter demonstrating demand growth from the industrial sector which is expected to increase throughout 2017 as Dangote Cement begins using gas for power generation. Wentworth will continue to update the market as these new sources of demand materialize. Continue reading
Aminex has confirmed that, further to the announcement of 6 February 2017, production testing on the recently drilled Ntorya 2 appraisal well commenced on Saturday 25 February 2017 and gas is flowing to surface. The well will be tested across a variety of flow rates and choke sizes to determine the optimal deliverability of the well for production purposes.
The Company now expects to have results of the production testing and petrophysical analysis by mid-March.(source: Aminex)
An agreement between the Tanzanian government and the international majors looking to build a US$30 billion LNG export project, could be reached in 2018. Continue reading