African Barrick Gold (ABG), Tanzanias largest gold producer, aims to boost its annual production capacity to one million ounces from the current 700,000 ounces in two years, East African Business Week reported. The miner, which runs four gold mines in Tanzania, plans to develop a fifth mining pit at Nyanzaga in the northern part of the country. According to ABGs CEO Greg Hawkins, the Nyanzaga gold mine has high potential, as feasibility studies have shown that the pit could produce an average of 4.2 million ounces a year. He added that once production at the mine starts, Tanzania would become one of the biggest gold producers in Africa. The challenges that ABG is facing in the development of the mine include insufficient power supply and poor infrastructure around the mine. ABG has so far invested over USD 2bn in Tanzania. It employs some 5,400 people in the country. |
South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more
South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more
Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more