Mining and oil and gas reforms, a comparison between Kenya and Tanzania

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Petra Diamonds says Mwadui Williamson Mine for sale​

ippmedia.com/en/business/petra-diamonds-says-mwadui-williamson-mine-sale
15. September 2021
15Sep 2021
By Guardian Reporter
Dar es Salaam
Business
The Guardian
Petra Diamonds says Mwadui Williamson Mine for sale
LONDON Stock Exchange listed Petra Diamonds that operates Williamson Diamond Mine in Mwadui, Shinyanga Region has announced the reviewing of its strategic options at its local mine which it has since classified it as an asset held for sale to meet financial reporting regulations.

Petra Diamond CEO, Richard Duffy.

In its unaudited preliminary results for the year ending June 30, 2021, Petra Diamonds which holds a 75 percent stake in Williamson Mine while Treasury has 25 percent, said its board of directors has decided to review its strategic options at the local mine and that the asset has therefore been re-classified.

In August last year, the company said that it had not yet received an offer even after launching the formal sale process of its stake in Williamson Diamond Mine in Mwadui. The operation has been on care and maintenance since April last year amid a downturn in diamond prices, the company stated.

After learning of the re-classification move last year, Minerals Minister, Doto Biteko said as a shareholder, the government was dissatisfied with the manner in which Petra Diamonds was approaching the matter. Biteko argued that there were discrepancies in the notice for sale of the mine that should be resolved before moving forward.

“We were in discussion with the mine and were at the last stage of signing a framework agreement, so you can imagine our surprise when we saw the sale announcement,” Biteko told the local media adding that Petra was behaving like a sole owner of the mine.

Williamson is an open pit diamond mine covering 146 hectares of Mwadui kimberlite reserve which is said to be one of the world’s largest economic kimberlites. According to a statement released by Petra CEO Richard Duffy, 2021 has been a watershed year for the company. “Besides the challenges of the coronavirus outbreak, we completed a capital restructuring which, together with the sale of a number of exceptional blue and white diamonds from the Cullinan mine, served to reduce consolidated net debt by around two thirds to U$228.2 million,” Duffy said.

He added, “We now have a more stable capital structure, considerably reduced debt obligations and more liquidity.” The company however said that although the group’s production was negatively impacted on by challenges at the Finsch and Koffiefontein mines in South Africa, re-engineering projects are under way at these mines to improve production and margins.

 

[Opportunity Cost]

Mafuta yamekauka kwa jirani ,poleni sana ndugu 👇

 

[Opportunity Cost]

Petra Diamonds says Mwadui Williamson Mine for sale​

ippmedia.com/en/business/petra-diamonds-says-mwadui-williamson-mine-sale
15. September 2021
15Sep 2021
By Guardian Reporter
Dar es Salaam
Business
The Guardian
Petra Diamonds says Mwadui Williamson Mine for sale
LONDON Stock Exchange listed Petra Diamonds that operates Williamson Diamond Mine in Mwadui, Shinyanga Region has announced the reviewing of its strategic options at its local mine which it has since classified it as an asset held for sale to meet financial reporting regulations.

In its unaudited preliminary results for the year ending June 30, 2021, Petra Diamonds which holds a 75 percent stake in Williamson Mine while Treasury has 25 percent, said its board of directors has decided to review its strategic options at the local mine and that the asset has therefore been re-classified.

In August last year, the company said that it had not yet received an offer even after launching the formal sale process of its stake in Williamson Diamond Mine in Mwadui. The operation has been on care and maintenance since April last year amid a downturn in diamond prices, the company stated.

After learning of the re-classification move last year, Minerals Minister, Doto Biteko said as a shareholder, the government was dissatisfied with the manner in which Petra Diamonds was approaching the matter. Biteko argued that there were discrepancies in the notice for sale of the mine that should be resolved before moving forward.

“We were in discussion with the mine and were at the last stage of signing a framework agreement, so you can imagine our surprise when we saw the sale announcement,” Biteko told the local media adding that Petra was behaving like a sole owner of the mine.

Williamson is an open pit diamond mine covering 146 hectares of Mwadui kimberlite reserve which is said to be one of the world’s largest economic kimberlites. According to a statement released by Petra CEO Richard Duffy, 2021 has been a watershed year for the company. “Besides the challenges of the coronavirus outbreak, we completed a capital restructuring which, together with the sale of a number of exceptional blue and white diamonds from the Cullinan mine, served to reduce consolidated net debt by around two thirds to U$228.2 million,” Duffy said.

He added, “We now have a more stable capital structure, considerably reduced debt obligations and more liquidity.” The company however said that although the group’s production was negatively impacted on by challenges at the Finsch and Koffiefontein mines in South Africa, re-engineering projects are under way at these mines to improve production and margins.

Wauziane ila kodi yetu walipe

 

[Opportunity Cost]

Tzn tunaongea Sana,viwanda hivi vimekuwa 3 Tzn ,Dom,Geita na Mwanza lakini sijaona kama vimeanza kufanya Kazi..

Pili viwanda kama hivi viko Rwanda pia but kwenye mazingira ya ushindani unakuta VAT na mambo ya urasimu mwingine unasumbua.Mozambique hapo kuna dhahabu kibao ila taratibu za ufanyaji biashara na Tzn ni tabu tupu..

Ni vyema serikali itatue hizi kero Ili Tzn itambulike kama muuzaji madini mkubwa Afrika.

 

[Geza Ulole]

 

[Geza Ulole]

Exxon, Shell in East African LNG race​

By Ed ReedOctober 5, 2021
Oil & Gas / Africa / LNG

© Supplied by Bloomberg

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ExxonMobil continues to hold out hope for its Rovuma LNG project, in Mozambique, while Shell has held talks with the Tanzanian government on another East African export plan.

Exxon’s senior vice president Neal Chapman highlighted the challenges around security in Mozambique. Chapman, speaking at the end of the first day of the Energy Intelligence Forum, said Rovuma LNG was a “very large, very competitive resource”. However, he also noted that the company had suspended progress.

The company “as lead operator of Rovuma LNG and TotalEnergies as operator of Area 1 are working with the government, we have to see how it plays out,” he said.

The French company said last week that it expected Mozambique LNG to reach first gas in 2026. Even this will depend on security improving.

In parallel with the security discussions in Mozambique, though, Exxon is competing in the process to partner with Qatar Petroleum (QP) at the North Field East (NFE) project. QP is likely to choose its preferred partners on NFE in 2022.

Both Rovuma LNG and NFE have a “very low cost of supply and are very competitive. We’re optimistic about growing in Qatar and also in Mozambique. We should remember that we will have first LNG from Mozambique in 2022”, from the Coral Sul floating LNG (FLNG) project.

Exxon is working on a number of projects around the world, but is becoming more concentrated on its core assets, Chapman said.

The company is focused on “rebuilding its balance sheet” at present, he said. “What’s important is cost of supply,” the executive continued. A focus on controlling costs, over returns, allows the company to thrive despite price fluctuations.

One point in Rovuma LNG’s favour for Exxon is that the company prefers to act as operator.

​

Competition​

Tanzanian President Samia Suluhu Hassan held discussions on October 4 with Shell CEO Ben van Beurden. A statement from Tanzania reported van Beurden expressing thanks for the improved investment talks.

The Tanzanian president thanked the Shell head for the company’s interest. She noted the positive impact this would have on the country’s economy.

Also participating were Minister of Energy January Makamba and the head of the Tanzanian Petroleum Development Corp. (TPDC) James Mataragio.

Makamba said there was a “strong mutual commitment” to implement the $30 billion Tanzania LNG project. “There’s increased certainty that this project will happen. We’re starting talks ASAP.”

Recommended for you​

Exxon, Shell in East African LNG race

ExxonMobil continues to hold out hope for its Rovuma LNG project, in Mozambique, while Shell has held talks with the Tanzanian government on another East

www.energyvoice.com

 

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LNG site at Likongo in Lindi

 

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Tanzania acquires drilling rig for geothermal exploration​

3. November 2021

News​

Self-discharging well at Kiejo-Mbaka Geothermal Prospect, Mbeya, Tanzania (source: Chagaka Kalimbia)

Alexander Richter
3 Nov 2021

Tanzania Geothermal Development Company acquires drilling rig for geothermal exploration at Ngozi and additional planned development sites.


Reported by Chinese media, state-owned Tanzania Geothermal Development Company (TGDC) signed a contract with a Chinese company to provide facilities and services to help Tanzania develop its geothermal resources.

Under the contract, TGDC will purchase a multi-functional drilling rig with accessories and training services from Shandong Kerui Petroleum and Gas Equipment Co Ltd. The contract, valued at around $6 million, will enable TGDC to drill three geothermal exploration wells, with depth between 1,500 and 2,000 meters. It will mark a milestone in the development of Tanzania’s geothermal resources.

TGDC, a subsidiary of state-owned Tanzania Electric Supply Company, is exploring several geothermal sites for potential development. The planned drilling site is Ngozi in West Tanzania’s Mbeya region.

According to Kato Kabaka, general manager of TGDC, Tanzania’s government has already invested more than 20 billion Tanzanian shillings ($8.7 million) in the development project for a geothermal power plant at Ngozi. The country plans to develop seven geothermal projects between this year and 2025.

As an integrated solution and service provider specialized in oilfield stimulation and new energy development, Kerui has actively participated in the Belt and Road Initiative. Its business is involved in around 60 countries and regions.

Source: China Daily

Tanzania acquires drilling rig for geothermal exploration

Tanzania Geothermal Development Company acquires drilling rig for geothermal exploration at Ngozi and additional planned development sites.

www.thinkgeoenergy.com