Mining junior OreCorp Ltd has launched a scoping study at its Nyanzaga project in Tanzania, to assess its economic and technical viability. The study which includes mining methods will take into considerations processing options to optimize throughput capacity and enhance metallurgical outcomes. The firm planned to complete at the end of Q4 2016, before immediately progressing on the...

In Tanzania, Energy and Water Utilities Regulatory Authority (EWURA) approved application by power utility Tanesco to reduce power tariff. We have approved to decrease tariff by a range of 1.5 to 2.4 per cent in 2016 compared to the current tariff, said Felix Ngamlagosi, EWURA’s director general. The new tariff is effective since April 1, 2016. It cancels rates on households’ consumption...

Additional details about Ethiopia’s recently announced 2,000 MW hydropower plant were just released. The Koysha plant will be built on the Omo River and cost $1.5 billion. Construction of the plant started after talks between Ethiopian Electric Power (EPP) and Italian company Salini Costruttori. According to local media The Reporter, Italian finance institution Servizi Assicuative del...

African Development Bank (AfDB) just committed to providing a $549 million credit line to 14 countries from Eastern and Southern Africa. The grant will be used to effectively fight El Niño-induced drought. Clearly put, the funding will impact 36 million people who need food assistance. Out of the $549 million grant, $5 million will be invested in emergency aid while $361...

Kenya Airways will cut about 600 jobs as part of its restructuration plan to restart making profit, the company said in a statement published on March 31. “We will embark on a restructuring process that will result in approximately 600 members of staff being declared redundant or redeployed elsewhere,” the company said. The company currently employs about 4,000 people according to its...

Airtel started building a $10 million data center in Freetown, Sierra Leone’s capital city. According to Dapo Olasope, director general of the telecom firm, the infrastructure, for which first plans were developed in June 2014, aims at improving quality of communication provided to consumers. The Airtel data center is an extension of its network infrastructure to bring it to the same...

The Petroleum Products Pricing Regulatory Agency (PPPRA) on Monday announced that the Nigerian National Petroleum Corporation (NNPC) will be allocated 41.73% for the supply of petrol in Q2 of 2016. Lanre Oladele (photo), the Head of Corporate Services in a statement, said that NNPC has 41.73% of the overall allocation, while the remaining Oil Marketing Companies has 58.27%. The statement said...

Kosmos Energy has obtained majority rights to one of the oil blocks in Sao Tome and Principe's exclusive economic zone. The company, secured a 65% interest in Block 12, while the remaining interests on the block are owned by Sao Tome and Principe's National Petroleum Agency and Equator Exploration. Kosmos’ acquisition of a 65% interest signifies that the company now has interests in four of...

Tullow Oil has prolonged the adjournment of oil and gas production at its Jubilee field in Ghana and anticipated exports to resume this week. According to the company, all prearranged maintenance which began in March 20, are expected to be concluded by April 5. Hence, oil and gas exports from the field will resume on April 9 as soon as new offloading measures has been put in place at the...

In its recent forecast, global network Carat, space purchase and media counseling specialist, confirmed trends given by ZenithOptimedia, Publicis’ media agency. Carat is owned by Dentsu, Japanese advertising firm, and Aegis Group, British advertising and market studies group. Carat increased its ad-spend forecast by 4.5% to $538 billion in 2016 compared to the previous year. Two weeks...