Nigerian companies team up to provide gas to West Africa’s leading industrial hub


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The Lagos Free Zone (LFZ) has officially signed earlier today a Gas Infrastructure Development Agreement with Optimera Energy FZE to develop its own gas distribution network. The new project gathers some of Nigeria’s leading gas players around a new venture committed to promoting gas-based industrialisation. West Africa’s leading industrial hub needs gas Located on the […]

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After Rio Tinto, De Beers also seals deals for diamond exploration in Angola


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De Beers Group announced yesterday the signing of two Mineral Investment Contracts (MICs) with the Government of Angola for licence areas in north-eastern Angola. Both contracts formalize the award and exercise of mineral rights over a period of 35 years each, allowing De Beers Group to explore and mine diamonds in the southern African country. […]

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World’s leading titanium manufacturer to set up 200 MW solar plant in South Africa


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Tronox Holdings, one of the world’s leading producers of high-quality titanium products, has signed a power purchase agreement (PPA) this week with South African IPP SOLA Group for 200 MW of solar power capacity. The project is expected to be commissioned by Q4 2023 and supply clean energy to Tronox’ mines and smelters in South […]

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World’s second largest granulated urea plant commissioned in Nigeria


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Yesterday, President Muhammadu Buhari commissioned Africa’s largest granulated urea plant and the second biggest in the world in Ibeju Lekki. The Dangote Fertilizer facility has a capacity of 3 million tonnes per annum (mtpa) and is now making Nigeria self-sufficient in fertilizers, with extra capacity reserved for exports. “We have already started exporting to the […]

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South Africa’s Tharisa mine to run on solar with upcoming 40 MWp facility


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TotalEren and Chariot have announced today the signing of a new Memorandum of Understanding (MoU) with South African platfinum group metals and chrome producer Tharisa Plc. The agreement paves the way to develop, finance, construct, own, operate and maintain a 40 MWp solar PV project at the Tharisa mine in South Africa’s North West Province. […]

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BUA Foods: Why Bet on Nigeria’s Newest FMCG conglomerate


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Nigerian capital markets started 2022 with an injection of NGN 720 bn ($1.8bn) following the listing of BUA Foods on the main board of the Nigerian Stock Exchange (NSE). The new company is the result of the consolidation of several of Abdulsamadu Rabiu’s businesses under BUA International, a conglomerate he founded in 1988. While BUA […]

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Renergen’s shares take off after 600% increase in reserves at South Africa’s Virginia Gas Project


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Renergen’s shares have been up +43.14% on the Australian Securities Exchange (ASX) and +31.27% on the Johannesburg Stock Exchange (JSE) since Friday. The most significant jump happened today with an increase of almost +30% on the ASX and +15% on the JSE after the company reported a 600% increase in its 1P helium reserves in […]

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PE Energy opens new Centre of Excellence to support Nigerian content

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Over the weekend, PE Energy officially opened its new Centre of Excellence for valves assembly, valves actuation, metering systems, pump and compressor solutions, process automation and control systems integration in Port Harcourt, Nigeria. The state-of-the-art facility covers over 11,000 m2 and was constructed by Megastar Technical Construction Co. It is set to become one of […]

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Tanzania issues special mining license for world’s largest unexploited nickel deposits


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Following the signing of the Framework Agreement last January, the Government of Tanzania has now issued a special mining licence (SML) for a period of over 30 years for the Kabanga Nickel project, covering the full life of the project. The Kabanga Nickel Project holds the world’s largest development-ready nickel sulphide deposit and will produce […]

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Africa’s first mRNA-based vaccine plant to be set up in Rwanda next year


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German biotechnology company BioNTech has signed a Memorandum of Understanding (Mou) with the Rwandan Government and the Institut Pasteur (Dakar) to construct Africa’s first mRNA-based manufacturing facility in Rwanda next year. The agreement was signed on the sideline of the Second Ministerial Meeting of the African Union and the European Union and follows the signing […]

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World’s second-largest mining company enters Angolan diamond mine


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Last week in Lison, Angola’s Ministry of Mineral Resources, Petroleum & Gas and Angola’s national diamond company Endiama signed a mining investment contract with Rio Tinto for the Chiri diamond concession in the Lunda Norte Province in northern Angola, at the border with the Democratic Republic of Congo (DRC). The negotiations had been ongoing since […]

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AVZ Minerals secures Chinese investor for major DRC lithium and tin project


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AVZ Minerals has announced this morning the signing of a transaction implementation agreement (TIA) with Suzhou CATH Energy Technologies of China. Under the agreement, CATH will earn a 24% equity interest in the joint-venture set up to develop the Manono Lithium and Tin Project in the Democratic Republic of Congo (DRC). In return, CATH is […]

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Thor Explorations has poured first gold at Nigeria’s flagship gold mine


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Over the weekend, Thor Explorations has poured first gold from its Segilola Gold Mine in Nigeria’s Osun State. This is a critical milestone for the project where commercial production is expected in September. Once fully commissioned, the plant will run at a processing rate of 715,000 tonnes per annum, targeting about 85,000 ounces of gold […]

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Nigerian institutional investors back bonds issuance from country’s leading free zone


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The Lagos Free Zone Co. (LFZC), a subsidiary Singaporean conglomerate Tolaram, has successfully issued a NGN 10.5bn 20-year Series 1 Senior Guaranteed Fixed Rate Corporate Infrastructure Bonds, the company said today. The issuance falls under a NGN 50bn debt issuance programme aimed at securing financing to expand what has become Nigeria’s most modern and integrated […]

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