LSE-listed mining company, Caledonia Mining, which operates on the Blanket gold mine in Zimbabwe, said it plans to produce 60,000 ounces of gold in 2017, and by 2021, an average annual output of 80,000 Ounces. To achieve this, the firm relies on a major program launched at Blanket, during which it will mine the ore at a depth of more than 750m. Meanwhile, the firm declared a quarterly dividend...

Indian firm Aaviskaar Venture Management Services (AVMS) has announced plans to raise between $100 million and $150 million for Africa investments. “We will start the fund-raising around the middle of 2017 and we expect to close it in 2018,” said Vineet Rai, founder of Intellecap-Aavishkaar group. The new African fund will focus on investing on African low-income groups, especially...

The Nigerian National Petroleum Corporation (NNPC) has announced that it has granted 39 companies its crude oil term contracts for 2017. The Corporation in a statement said the contracts which covers about 1.31 million barrels per day (bpd) of crude oil were granted to 18 Nigerian companies, 11 international trading houses, five foreign refineries, three national oil companies and two NNPC...

Zambia’s foreign exchange revenues could increase in 2017 as the price of copper rose at the end of 2016. The increase occurred after U.S incoming President, Donald Trump, announced the construction of various infrastructures in his country. Another factor behind the increase is the significant surge in Chinese demand which represents about half of world’s demand. In this context,...

The Central Bank of Morocco announced in a statement released on January 2 it has approved the creation of five new Islamic banks and allowed three already existing lenders to open halal segments. The five applications green-lit by the lenders committee of the Bank Al-Maghrib were submitted by the Crédit Immobilier et Hôtelier (CIH Bank) in partnership with Qatar International Islamic Bank,...

At the end of 2016, Mobilis, branch of Algérie Telecom, installed a new convergence solution for its system. The firm clearly put has regrouped its networks and services to improve its users’ experience. In a statement, Mobilis said the move would help meet more appropriately users’ needs and provide them new products in 2017. According to dia-algerie.com, the system installed is the...

The United Kingdom, recently fifth most powerful economy worldwide, is about to fall two places in the ranking in few months only, following Brexit. Due to the country’s currency, the Pound Sterling, tumbling after the vote, U.K. will soon be the world’s seventh global economy, behind France which recovered its fifth position, but also behind India, its former colony, whose growth was...

Spectrum has announced the commencement of the first of several 3D multi-client seismic acquisition programs offshore Gabon. The programs which are located in under-explored areas over shallow water open blocks are being carried out in collaboration with the Direction Generale des Hydrocarbures (DGH). The blocks in question are to be made available through upcoming shallow water licence...

Crude oil prices increased on Tuesday on hopes that an agreement between members of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC members to cut production will ease the oversupply in the global market. Benchmark North Sea Brent crude increased by 40 cents to $57.22 a barrel up from the 2016 high of $57.89, reached on December 12. U.S. light crude oil was also...

San Leon Energy Plc has announced that the reperforation operations at wells in the Oil Mining Lease (OML) 18 onshore Nigeria, has boosted production to about 61,000 barrels of oil per day (bopd). According to the company, the increase in production is expected to boost Nigeria’s output. “The well has now been temporarily shut in to allow minor production upgrades and additional workover...