Geza Ulole
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Mining and oil and gas reforms, a comparison between Kenya and Tanzania
Mining and oil and gas reforms, a comparison between Kenya and Tanzania
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Geza Ulole
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Tanzania: Helium One to Raise 15bn/ - in London for Rukwa Project
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17 NOVEMBER 2020
Tanzania Daily News (Dar es Salaam)
By Daily News Reporter and Agencies
Helium One has set out plans to list on London's AIM to finance its drilling plans in Tanzania, where it believes it has a world-scale resource.
Tanzania-focused Helium One aims at landing on London's AIM on December 3 via a reverse takeover of cash shell Attis Oil and Gas.
Helium One's CEO David Minchin said the plan was to raise £5.0 million for the drilling, which designed to take off in the first half of next year and production may start in 2023-2024.
"The listing now is to raise £5 million to mobilise the rotary lie detector," Mr Minchin said.
The company plans to drill in the first or second quarter of 2021.
"It's great in concept. We just need to make discoveries. We've done all we can now," Mr Minchin was quoted as saying.
The company expects to hold a resource of 138 billion cubic feet for a Rukwa project. At $280 per mcf, that's $36 billion.
"We're one of the only companies with this size of strategic resource in the world, and we'll be the only company on AIM in the exciting and expanding helium space," Helium One's CEO said.
The company received its Tanzania licences in 2015.
Since then, the company has collected and reprocessed 1,000 km of original seismic, flown a high gravity seismic survey and conducted a micro and macro analysis of seeps.
The company had planned to list on the Australian stock exchange, but then Covid-19 derailed this plan.
"In Australia, it's harder to secure investment in Africa. London is a natural place for our plans and it's a good place that understands investments in Africa," he said.
"Helium One will drill three wells to a maximum depth of 1,200 metres. Each well should take a month to complete and the company is in negotiations with contractors. The company can make savings as a result of the downturn."
Success in the first wells will see Helium One move to appraisal drilling and 3D seismic to understand trap geology fully.
"In 2022, we will be looking for equity for the construction and then it will take around a year to build. We can be producing in 2023-24," Mr Minchin said.
The company will construct a $50 million production plant from modular components. The company will export helium as a liquid in an ISO container, via Dar es Salaam.
Tanzania has thrown up some challenges for companies, but Mr Minchin was optimistic.
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"We've seen Tanzania turn around in the last six months," he said as he noted Barrick Gold's award of more exploration licences in the country. "Tanzania is open for business and this is the time to be involved."
The state approved the renewal of Helium One's exploration licences in September.
Scirocco Energy voiced its support of Helium One's plans with Attis. Scirocco, formerly known as Solo Oil, has a 12 per cent stake at Helium One. The launch of AIM will cut Scirocco's stake to 4.6per cent.
Tom Reynolds, CEO of Scirocco, said the deal with Attis was a positive development for Helium One and set it up to deliver material growth.
"Valuation reads across highlights challenging market conditions at this time, but in our view, it's far more important that we now have exposure to a very exciting story with a listing on a recognised exchange," he said
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17 NOVEMBER 2020
Tanzania Daily News (Dar es Salaam)
By Daily News Reporter and Agencies
Helium One has set out plans to list on London's AIM to finance its drilling plans in Tanzania, where it believes it has a world-scale resource.
Tanzania-focused Helium One aims at landing on London's AIM on December 3 via a reverse takeover of cash shell Attis Oil and Gas.
Helium One's CEO David Minchin said the plan was to raise £5.0 million for the drilling, which designed to take off in the first half of next year and production may start in 2023-2024.
"The listing now is to raise £5 million to mobilise the rotary lie detector," Mr Minchin said.
The company plans to drill in the first or second quarter of 2021.
"It's great in concept. We just need to make discoveries. We've done all we can now," Mr Minchin was quoted as saying.
The company expects to hold a resource of 138 billion cubic feet for a Rukwa project. At $280 per mcf, that's $36 billion.
"We're one of the only companies with this size of strategic resource in the world, and we'll be the only company on AIM in the exciting and expanding helium space," Helium One's CEO said.
The company received its Tanzania licences in 2015.
Since then, the company has collected and reprocessed 1,000 km of original seismic, flown a high gravity seismic survey and conducted a micro and macro analysis of seeps.
The company had planned to list on the Australian stock exchange, but then Covid-19 derailed this plan.
"In Australia, it's harder to secure investment in Africa. London is a natural place for our plans and it's a good place that understands investments in Africa," he said.
"Helium One will drill three wells to a maximum depth of 1,200 metres. Each well should take a month to complete and the company is in negotiations with contractors. The company can make savings as a result of the downturn."
Success in the first wells will see Helium One move to appraisal drilling and 3D seismic to understand trap geology fully.
"In 2022, we will be looking for equity for the construction and then it will take around a year to build. We can be producing in 2023-24," Mr Minchin said.
The company will construct a $50 million production plant from modular components. The company will export helium as a liquid in an ISO container, via Dar es Salaam.
Tanzania has thrown up some challenges for companies, but Mr Minchin was optimistic.
Close
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"We've seen Tanzania turn around in the last six months," he said as he noted Barrick Gold's award of more exploration licences in the country. "Tanzania is open for business and this is the time to be involved."
The state approved the renewal of Helium One's exploration licences in September.
Scirocco Energy voiced its support of Helium One's plans with Attis. Scirocco, formerly known as Solo Oil, has a 12 per cent stake at Helium One. The launch of AIM will cut Scirocco's stake to 4.6per cent.
Tom Reynolds, CEO of Scirocco, said the deal with Attis was a positive development for Helium One and set it up to deliver material growth.
"Valuation reads across highlights challenging market conditions at this time, but in our view, it's far more important that we now have exposure to a very exciting story with a listing on a recognised exchange," he said
Geza Ulole
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Kabanga, Tanzania to develop world’s largest nickel deposit
Cecilia Jamasmie | January 19, 2021 | 6:49 am Base Metals Exploration Markets Africa Europe Cobalt Nickel
The Kabanga nickel project was formerly owned by Barrick Gold and Glencore. (Reference stock image.)
British miner Kabanga Nickel, formerly known as LZ Nickel, has inked a framework agreement with the government of Tanzania to develop the world’s largest battery-grade nickel sulphide deposit in the country’s northwest.
As part of the deal, the parties have created a joint company called Tembo Nickel Corp., which will mine, process and refine class 1 nickel with cobalt and copper co-products.
Kabanga Nickel is the new entity’s majority owner with an 84% stake. Tanzania owns the remaining 16%, which is the government’s usual stake in all of the country’s mining projects.
Economic benefits from the Kabanga nickel project, formerly owned by Barrick Gold (TSX: ABX) (NYSE: GOLD) and Glencore (LON: GLEN), will be shared equally between the two shareholders, the parties said in the statement.
Tanzania, Africa’s fourth-largest gold producer, has sought in recent years higher revenues from its vast mineral resources by overhauling the fiscal and regulatory regime of its mining sector.
Barrick and Glencore lost the nickel project in 2018, when President John Magufuli’s administration revoked their retention license, along with 10 others.
The move followed the suspension of new mining permits and the passing of two bills giving Dar es Salaam the right to renegotiate or revoke existing licenses.
Also cobalt and copper
The Kabanga project hosts an in situ mineral resource of 58 million tonnes at 2.62% Ni, containing more than 1.52 million tonnes (3.30 billion pounds) of nickel, a key ingredient for the making of electric vehicles (EVs).The company said the deposit also has significant amounts of cobalt and copper with a 30-year mine life.
Kabanga Nickel noted it will acquire all the project data and information from Barrick and Glencore, including a 2014 draft feasibility study report and subsequent updates.
It also said it would build a hydrometallurgical (hydromet) plant, which is expected to reduce carbon footprint and minimize environmental impact, as well as lower capital and production costs.
“The project aims to develop the country’s vision of adding value to all minerals and to expand refineries beyond Kabanga that will make Tanzania a regional and central hub for East and central Africa that will process minerals in Africa,” the company’s vice chairman, Chris von Christierson, said in the signing ceremony.
Fitch Solutions has forecast nickel mine production to grow by 8.3% this year from 2020, boosted by rising prices.
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Kabanga, Tanzania to develop world’s largest nickel deposit
The UK-based miner and Tanzania will jointly develop a project formerly owned by Barrick and Glencore.
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CC: Tony254
Raphael focus
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Watanzania tuna madini mengi lakini hayatunufaishi, matokeo yake uchumi wetu unategemea makusanyo ya kodi kutoka kwa wananchi.Kabanga, Tanzania to develop world’s largest nickel deposit
Cecilia Jamasmie | January 19, 2021 | 6:49 am Base Metals Exploration Markets Africa Europe Cobalt Nickel
The Kabanga nickel project was formerly owned by Barrick Gold and Glencore. (Reference stock image.)
British miner Kabanga Nickel, formerly known as LZ Nickel, has inked a framework agreement with the government of Tanzania to develop the world’s largest battery-grade nickel sulphide deposit in the country’s northwest.
As part of the deal, the parties have created a joint company called Tembo Nickel Corp., which will mine, process and refine class 1 nickel with cobalt and copper co-products.
Kabanga Nickel is the new entity’s majority owner with an 84% stake. Tanzania owns the remaining 16%, which is the government’s usual stake in all of the country’s mining projects.
Economic benefits from the Kabanga nickel project, formerly owned by Barrick Gold (TSX: ABX) (NYSE: GOLD) and Glencore (LON: GLEN), will be shared equally between the two shareholders, the parties said in the statement.
Tanzania, Africa’s fourth-largest gold producer, has sought in recent years higher revenues from its vast mineral resources by overhauling the fiscal and regulatory regime of its mining sector.
Barrick and Glencore lost the nickel project in 2018, when President John Magufuli’s administration revoked their retention license, along with 10 others.
The move followed the suspension of new mining permits and the passing of two bills giving Dar es Salaam the right to renegotiate or revoke existing licenses.
Also cobalt and copper
The Kabanga project hosts an in situ mineral resource of 58 million tonnes at 2.62% Ni, containing more than 1.52 million tonnes (3.30 billion pounds) of nickel, a key ingredient for the making of electric vehicles (EVs).
The company said the deposit also has significant amounts of cobalt and copper with a 30-year mine life.
Kabanga Nickel noted it will acquire all the project data and information from Barrick and Glencore, including a 2014 draft feasibility study report and subsequent updates.
It also said it would build a hydrometallurgical (hydromet) plant, which is expected to reduce carbon footprint and minimize environmental impact, as well as lower capital and production costs.
“The project aims to develop the country’s vision of adding value to all minerals and to expand refineries beyond Kabanga that will make Tanzania a regional and central hub for East and central Africa that will process minerals in Africa,” the company’s vice chairman, Chris von Christierson, said in the signing ceremony.
Fitch Solutions has forecast nickel mine production to grow by 8.3% this year from 2020, boosted by rising prices.
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Kabanga, Tanzania to develop world’s largest nickel deposit
The UK-based miner and Tanzania will jointly develop a project formerly owned by Barrick and Glencore.
CC: Tony254
ForeverMore
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Nadhani hicho ndio anachofanya Magufuli. Nchi 3 wanachama wa SADC wamesha tangaza nia ya kununua umeme kutoka Tanzania pindi Nyerere Hydropower Project utakapo kamilika.
Uganda, wametangaza nia ya kununua Gas, same thing kwa Kenya kununua Gas pia kutoka Tanzania.
SGR itakayo unganishwa kwenda Rwanda na DRC. Raisi wa Malawi pia aliongelea mradi wa SGR ufike ziwa Nyasa ili mizigo mingi ipite bandari ya DSM.
December 2020, Angola wamesema wana plan ya kujenga reli kuja Tanzania kupitia Zambia.
Inamaana, tukiwa na vyanzo vingi vya mapato, kodi inaweza shuka. Until then, Source kubwa ya mapato ni kodi.
BlietzKrieg
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Government stake only 16%!!!!!Kabanga, Tanzania to develop world’s largest nickel deposit
Cecilia Jamasmie | January 19, 2021 | 6:49 am Base Metals Exploration Markets Africa Europe Cobalt Nickel
The Kabanga nickel project was formerly owned by Barrick Gold and Glencore. (Reference stock image.)
British miner Kabanga Nickel, formerly known as LZ Nickel, has inked a framework agreement with the government of Tanzania to develop the world’s largest battery-grade nickel sulphide deposit in the country’s northwest.
As part of the deal, the parties have created a joint company called Tembo Nickel Corp., which will mine, process and refine class 1 nickel with cobalt and copper co-products.
Kabanga Nickel is the new entity’s majority owner with an 84% stake. Tanzania owns the remaining 16%, which is the government’s usual stake in all of the country’s mining projects.
Economic benefits from the Kabanga nickel project, formerly owned by Barrick Gold (TSX: ABX) (NYSE: GOLD) and Glencore (LON: GLEN), will be shared equally between the two shareholders, the parties said in the statement.
Tanzania, Africa’s fourth-largest gold producer, has sought in recent years higher revenues from its vast mineral resources by overhauling the fiscal and regulatory regime of its mining sector.
Barrick and Glencore lost the nickel project in 2018, when President John Magufuli’s administration revoked their retention license, along with 10 others.
The move followed the suspension of new mining permits and the passing of two bills giving Dar es Salaam the right to renegotiate or revoke existing licenses.
Also cobalt and copper
The Kabanga project hosts an in situ mineral resource of 58 million tonnes at 2.62% Ni, containing more than 1.52 million tonnes (3.30 billion pounds) of nickel, a key ingredient for the making of electric vehicles (EVs).
The company said the deposit also has significant amounts of cobalt and copper with a 30-year mine life.
Kabanga Nickel noted it will acquire all the project data and information from Barrick and Glencore, including a 2014 draft feasibility study report and subsequent updates.
It also said it would build a hydrometallurgical (hydromet) plant, which is expected to reduce carbon footprint and minimize environmental impact, as well as lower capital and production costs.
“The project aims to develop the country’s vision of adding value to all minerals and to expand refineries beyond Kabanga that will make Tanzania a regional and central hub for East and central Africa that will process minerals in Africa,” the company’s vice chairman, Chris von Christierson, said in the signing ceremony.
Fitch Solutions has forecast nickel mine production to grow by 8.3% this year from 2020, boosted by rising prices.
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YKabanga, Tanzania to develop world’s largest nickel deposit
The UK-based miner and Tanzania will jointly develop a project formerly owned by Barrick and Glencore.
CC: Tony254
So faida yote 84% inaenda abroad!!
Ndio maana resourcewise nations are poor(Africa)
eliakeem
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ForeverMore
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Nadhani hujaisoma vizuri hiyo news.
There is a difference between number of shares and profit share.
Kama iliyofanyika kwa Barrick Gold Mine na Serikali ya Tanzania ambapo iliundwa kampuni ya pamoja Twiga Mining Company ambapo ingawa Serikali ya Tanzania ina Share ya 16%, profit shares is 50 - 50.
The same happens here. Angalia hii nukuu
"Economic benefits from the Kabanga nickel project, formerly owned by Barrick Gold (TSX: ABX) (NYSE: GOLD) and Glencore (LON: GLEN), will be shared equally between the two shareholders, the parties said in the statement."
Ambapo shareholders ni NL Nickel na Government of Tanzania.
Geza Ulole
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Tanzanian Gold CEO salutes U$7m investors after exiting
February 3, 2021
03Feb 2021
The Guardian Reporter
Dar es Salaam
Business
The Guardian
Tanzanian Gold CEO salutes U$7m investors after exiting
THE retirement of U$7 million convertible debt through normal share selling by YA II PN and Riverfort Global Opportunities Plc is a major milestone in the development of Tanzanian Gold Corporation which is undertaking gold extraction at Geita based Buckreef Gold project.
In a statement t announce the official retirement of the two investors, TanGold CEO, Stephen Mullowney said the share selling which was done through normal course sales in the market is significant to the company.
“We would like to thank both Riverfort and YA for their original and future support as we continue to move forward the Buckreef Gold Project in Tanzania with our joint venture partner, the State Mining Corporation (STAMICO),” Mullowney said.
Tanzanian Gold Corporation along with STAMICO is building a significant gold project at Buckreef that is based on an expanded mineral resource base and the treatment of its mineable mineral reserves in two standalone plants.
“Measured and indicated mineral resources now stand at a combined tonnage of 35.88 metric tons at 1.77grams per ton gold containing 2,036,280 ounces of gold. The Buckreef Project also contains an inferred mineral resource of 17.8MT at 1.11g/t gold for contained gold of 635,540oz,” the miner said.
The statement further added that company is actively investigating and assessing multiple exploration targets on its property. TanGold is advancing on three value-creation tracks: Strengthening its balance sheet from expanding near-term production to 15,000 - 20,000 oz. of gold per year from the processing oxides upon approval of an expanded oxide plant.
It is also advancing the final feasibility study for a stand-alone sulphide treating plant that is substantially larger than previously modelled and targeting significant annual gold production; and third continuing with a drilling program to further test the potential of its mineral resource base by: drilling at deeper levels; drilling new oxide targets; infill drilling to upgrade mineral resources currently in the inferred category; and a step-out drilling program in the Northeast Extension...read more on https://epaper.ippmedia.com
Geza Ulole
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Nickel smelter to employ 3,000 from Ngara and Kahama districts
March 3, 2021
03Mar 2021
Correspondent
Kahama
News
The Guardian
Nickel smelter to employ 3,000 from Ngara and Kahama districts
MORE than 3,000 residents of Ngara and Kahama districts are expected to be employed by the nickel smelting plant to be built at Buzwagi Gold Mine in Kahama District, Shinyanga Region.
The nickel smelter is expected to be built by Tembo Nickel mining firm in Ngara District, Kagera Region.
This was revealed on Monday by a team of government experts and the investor, Tembo Nickel who visited Kahama District to survey the area for the construction of the smelter that would be mined in Ngara District, Kagera Region.
Kabanga nickel executive officer Chris Showalter said upon completion the smelter will employ over 3,000 people, 2,000 of them from Ngara District.
Tanzania Commissioner for Mining Prof Abdklukarim Mruma who led the team of mining experts from the Minstry of Minerals said the government has provided an investment area at Buzwagi Gold Mine to facilitate transport of the nickel at the smelter.
Shinyanga Regional Commissioner Zainab Telack said the government has allocated four areas for the construction nickel smelting plants and what remains is for the investor to choose one of them.
General manager of Bulyanhulu and Buzwadi Gold Mines Benedict Busunzu praised Tembo Nickel for mining the mineral from Kabanga area in Ngara District in Kagera Region and for the decision to construct the smelting plant.
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Geza Ulole
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