MINING
TANZANIA: Case against former Acacia Employees awaiting Mutual legal assistance for conclusion of investigations. The trial was adjourned to the 22nd of November 2019 to allow the prosecution time to acquire the assistance in order to advance its case against the three employees charged with various counts of fraud, tax evasion and money laundering.http://bit.ly/2Qfgpma
TANZANIA: Peak Resources is now the 100% owner of Peak African Minerals the parent company of Tanzanian registered PR NG Minerals. The transaction clears the way for the International Finance Corporation and other entities to have a direct foothold on the Tanzania Ngualla Rare Earth Project. “… The timing of this outcome plays in very well with the market dynamics we are seeing; with the scramble for Western governments to support a rare earth supply chain independent of China and the uptake in electric vehicles (EVs) which is gathering at pace”. Rocky Smith, CEO of Peak Resources. http://bit.ly/33JZL1N
SUDAN: Turkey investing in Sudan Gold Mines. Turkish Minister for Energy and Natural Resources Fatih Dönmez affirmed that the country’s General Directorate of Mining Research and Exploration (MTA) has entered into concession agreements with the Government of Sudan to develop two gold mine fields. http://bit.ly/2CAOlS6
ZAMBIA: WWF calls for ban on mining in parks and ecological sites. The Zambian Government has been called upon to undertake a review of the Mining and the Wildlife Acts to remove all provisions that allow mining and exploration activities within parks, forests and wildlife sanctuaries. http://bit.ly/2NFz6xr
ZAMBIA: Kangaluwi Copper Project on Lower Zambezi National Park may never fly after all. The project owned by Mwebeshi Resources (Bermuda) Ltd was previously promoted by Zambezi Resources an Australian listed company which changed its name to Trek Metals. Trek Metals sold the company to Dubai based but Chinese owned Grand Resources on the 15th of April 2019 for $752,742. On 17th October 2019 a high court issued a ruling throwing out a 2014 appeal by environmental groups against a green light for exploration. But it seems the celebration was to be short-lived as the Minister of Tourism and Arts, Ronald Chitotela announced that the park will remain closed to the miners until the country’s environmental regulator completes a fresh report on the potential impacts of extractive activities in the area.
SOUTH AFRICA: Anglo American is shifting away from coal. Anglo has now lowered its 2021 thermal coal target to 26 million tons from a previous goal of as much as 30 million tons. This new shift seems to follow the cue set in April 2019 by the Norway $1 trillion sovereign fund when it announced in that it will divest from companies that mine more than 20 million tons a year of thermal coal or produce more that 10,000GW from thermal coal. It is estimated that the fund has a 2.16% holding in miner Anglo American, worth $620 million. https://yhoo.it/36WInsx
SOUTH AFRICA: Gold Fields South Deep mine sits on the second-biggest known body of gold-bearing ore but now its considering options to offload the company’s last mine in Africa after it turned to profitability in 2019 following a decade of losses. Gold Field cites power shortages and regulatory uncertainties in South Africa as some of the issues that have compounded the challenges faced by the mine https://bloom.bg/33PnduI
KENYA: Tata Magadi gives court ordered arbitration a miss and proceeds to appeal the High Court order. The Ministry of Petroleum and Mining had been appointed as an arbiter between the company and the County Government of Kajiado in a dispute over the land rates payable by the company on the 224,000 acres of leased land. It is reported that the company on numerous occasions failed to send representatives to the arbitration sessions convened by the Ministry. http://bit.ly/2QhIbhI
MADAGASCAR: It seems the Russians may have played an active role in the 2018 elections and Chromium mining had something to do with it. It is claimed that a top Russian political operative had acquired a Chromium mine ahead of the elections and which was the subject of much controversy with the locals. The operative chose to back the incumbent President in the 2018 Presidential elections but it seems they backed the wrong horse when the President came 3rd in the first round therefore necessitating an about turn and backing the eventual winner Andry Rajoelina. However, President Putin presented a different agenda at the recently concluded Russia-Africa Summit: “We see how a number of Western governments have resorted to pressuring, bullying and blackmailing the governments of sovereign African countries,” Putin said before the meeting. “Our African agenda has a positive, aspirational character.” https://nyti.ms/37391Qw
OIL & GAS
UGANDA: A buyer has been identified for the 45,000 barrels of test crude oil stored since 2012. According to the Uganda National Oil Company, a successful bidder has been identified and a route for export established. The process was rigorous in order to identify a buyer who will ensure that the environment and community are not affected by the process of transporting the crude oil. http://bit.ly/34YTuiV
KENYA: The French now control 33% of Kenya’s downstream oil market. This is after Rubis Energie acquired Gulf Energy which controlled 5.3% of the market. In addition to the June 2019 acquisition of KenolKobil which controlled 14.8 per cent, Rubis effectively controls 20.1% of the market. Add this to Totals 13.2% and its clear the French are serious about oil. The National Oil Corporation of Kenya (NOCK) has a 3.3% http://bit.ly/2X9Kp46
UGANDA: By piloting polymer flooding, Petroleum Authority of Uganda hopes to raise the current recoverable oil of 1.4 billion barrels by an additional 102 million barrels. However, this pilot will only take place after production commences, in 2023? http://bit.ly/33W6s0A
GHANA: Tullow’s oil fields are performing below expectation. In a trading update covering the period from the end of July to date, Tullow said its full year West Africa net oil production from Ghana and non-operated portfolio is forecast to average around 87,000 barrels of oil per day. http://bit.ly/370Q5lB
NIGERIA: In a bid to curb smuggling of fuel across its borders, customs authorities banned deliveries of petroleum products to stations within 20 kilometres (12 miles) of the border. The result: Fuel stations along Nigeria’s land borders have closed and prices have spiked http://bit.ly/2qOYwQe
GHANA: Ghana is reviewing its petroleum regulations to facilitate exploration by allowing producers to carry out additional exploration without having to acquire new licenses, this is according to the country’s deputy energy Minister Mohammed Amin Adan. It is hoped that the move will create greater interest after a disappointing bid round that saw only four bids presented for the 14 blocks on offer at the last round.
GHANA: Four petroleum exploration licenses are set to be revoked for non performance after the Government undertook a review of 14 licenses awards that were made between the years 2011-2016. http://bit.ly/2QhVTB1
SENEGAL: Since discovering oil in 1961, the country will launch its first licensing round in January of 2020. Senegal is presenting 3 blocks with a view for the offshore projects to come online between 2022 – 2026. https://reut.rs/2Qg3e4n
EQUITORIAL GUINEA: ‘Black deals over Green deals’. Gabriel Obiang is the unapologetic energy Minister of EG who, despite having been faced with numerous protests from enviromentalists, will go ahead to award 7-8 blocks this November to successful bidders from the last bidding round that saw 21 bids on 13 blocks. In total there were 27 blocks on offer. http://bit.ly/36UKUn4
TAX
GHANA: Members of the Africa Tax Administration Forum are meeting in Accra Ghana from 18th – 22nd November 2019. The core agenda of the forum: Double Taxation Agreements. The Forum has been formulating a model DTA that incorporates new trends like the digital economy, oil & gas and is poised for adoption by the Pan African Parliament thereby forming the template for use by individual African countries. http://bit.ly/2rGrYII
Contact the Curator:
mwakesi@extractiveinsight.com
+254 723 229117
