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Financing of ZTK transmission line to benefit Rukwa project – Edenville
Published: 22 Jun 18
Aim-listed Edenville Energy believes the approval by the World Bank of $455-million in funding for the development of the Zambia–Tanzania–Kenya (ZTK) power transmission line, will benefit its Rukwa project.  The funding will allow for the construction of high-voltage power infrastructure, which specifically includes the transmission line from Sumbawanga to Tunduma and the associated Sumbawanga substation near Edenville’s Rukwa project area, in southwest Tanzania.
First Quantum says competitiveness key to Zambia copper production
Published: 22 Jun 18
Global metals and mining company First Quantum has urged Zambia to ensure competitiveness and stability in the sector in order to attract foreign direct investment and regain its slot as Africa's largest copper producer. Essential to this is a competitive electricity tariff structure that reflects the true cost of power production, including the fully depreciated hydropower facilities that are the backbone of the country’s generation, First Quantum's head of government affairs John Gladston told a conference in Lusaka this week.
Seychelles parliament blocks planned Indian naval base on remote island
Published: 22 Jun 18
Seychelles parliament will not ratify a pact allowing India to build naval facilities on one of the archipelago’s islands, a top foreign affairs ministry official said on Friday. The two countries signed an agreement in January to build military facilities on the remote island of Assumption, but the project quickly attracted criticism from opposition members of the tiny Indian Ocean nation’s parliament and lead to public protests.
Kenya Airways to restart hedging to counter oil price volatility
Published: 22 Jun 18
Kenya Airways' immediate biggest challenge is oil price volatility, and the airline will restart price hedging, its chief executive officer said on Friday. "The volatility of the oil price has been really tremendous. Addressing this is of utmost concern," Sebastian Mikosz told a news conference after the company's annual meeting.
Restructuring Eskom top of South Africa's agenda – Nene Restructuring Eskom top of South Africa's agenda – Nene
Published: 22 Jun 18
Restructuring State-run power firm Eskom is "on top of the agenda" for South Africa, Finance Minister Nhlanhla Nene said on Friday, though he said recent outages likely had very little impact on the economy. Africa's most industrialised economy suffered power outages earlier in June because of what Eskom said was an "illegal protest action" by South Africa's National Union of Mineworkers (NUM) and two other unions.
Kibo sells nickel subsidiary to Katoro as it focuses on energy sector
Published: 22 Jun 18
Aim-listed Kibo Mining has sold its Kibo Nickel subsidiary to Aim-listed Katoro Gold for 15.34-million shares valued at about £200 000.
West African updates Sanbrado feasibility study
Published: 22 Jun 18
An updated feasibility study (FS) into the Sanbrado gold project, in Burkina Faso, has increased the project’s production expectations and the mine life, owner West African Resources reported on Friday. Sanbrado is expected to produce an average of 211 000 oz/y of gold over the first five years of operation, with production averaging 133 000 oz/y over the 11-year life of mine.
Board spill a delaying tactic to repay A$1m – Empire
Published: 22 Jun 18
The directors of gold junior Empire Resources have urged shareholders to vote against a proposed board spill at the company’s general meeting on July 24, saying that the requisition is a delaying tactic by parties owning the company A$1.02-million. The Supreme Court of Western Australia earlier this week dismissed an injunction brought about by Empire’s joint venture (JV) partner, Brimstone Resources, to prevent the company from taking action under the mortgage and security documents over its interest in the JV and other properties, after Brimstone failed to make a A$1.02-million repayment to Empire.
Thiess wins A$225m Nickel West contract
Published: 22 Jun 18
ASX-listed Cimic’s mining services provider Thiess has been awarded a A$225-million contract at the Rocky’s Reward nickel mine, in Western Australia. The 34-month contract with the Nickel West division of mining major BHP, incorporated a further cutback at the Rocky’s Reward pit and works at a satellite pit.
Victoria reveals changes to EPA
Published: 22 Jun 18
Victorian Environment Minister Lily D’Ambrosio has introduced the Environment Protection Amendment Bill 2018 into Parliament, which will give the Environment Protection Authority (EPA) the powers and tools it needs to stop pollution. The Bill was part of the Victorian government’s A$180-million reform of the EPA, and base based on recommendations by an Independent Inquiry into the EPA.
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