Bloomberg reported that this week, Kenya plans to sign a concession accord with China's Fenxi Mining Industry Co. to develop a deposit containing 400 million metric tons of coal. The move will allow the country to tender 31 more blocks spread across counties in both the north and south of the nation.
Articles Tagged "africa"
An exciting period of growth has hit oil exploration and development in North Africa.
Bloomberg reported that droughts in southwest Africa's Namibia has uranium mines operating the area facing water shortages. Some of the operators include Rio Tinto and Paladin Energy.
Forte Energy NL (ASX:FTE,AIM: FTE) announced that they have entered into an agreement to acquire private company Leo Mining and Exploration Limited.
Reuters reported that Iran’s president Mahmoud Ahmadinejad visited uranium-producing Niger on Monday as part of its aim to deepen its ties with Africa.
The US Geological Survey estimates that the coastal areas of Mozambique and Tanzania could hold more than 250 trillion cubic feet of gas. After decades of being overshadowed by other gas-rich areas, this Southern African nation is proving a rich hunting ground for natural gas exploration.
While most of the world’s “cheap easy” oil has already been discovered, East Africa remains largely unexplored and boasts high potential.
Major companies like AREVA and Cameco understand how important it is to mitigate risks such as fighting in Mali and Nigerian resource nationalism by geographically diversifying their assets.
Bloomberg reported that Goodluck Jonathan, the president of Nigeria, received a report that indicates that over the last ten years the country may have lost $37 billion or more in revenue due to underpayments for oil. Jonathan plans to launch an investigation to get to the bottom of the matter.
Bloomberg reported Paladin Energy Ltd. (ASX:PDN) plans to make up to three deals in the next few months selling off minority stakes in some projects.