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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mlingoti west
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Tatizo mpo jagwani haujui lolote kuhusu.china nako mafuriko ya kumwaga ni maskini.ardhi yote yenye rutba na mvua amechukua familia za Kenyatta,Raila, Charles Njonjo,Gedion Moi ,Rutto wakishirikiana na wazungu.
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Geza Ulole
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Breaking news: Tanzania's oil exploration updates
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Solo Oil delighted as Aminex greenlight marks key development for Tanzania assets
“This milestone indicates an improving operating environment in Tanzania," said chief executive Tom Reynolds.
Solo Oil PLC (LON:SOLO) chief executive Tom Reynolds has declared the company delighted with the news that partner Aminex PLC (LON:AEX) has received approval from the Tanzanian government for its farm-out transaction for the Ruvuma project.
It allows ARA Petroleum to take a 50% interest in the project and become operator of the project.
Solo, which retains 25% of Ruvuma, said the transaction’s approval marks a key development in the company’s ongoing sales process for its assets in Tanzania.
"We are delighted Aminex and ARA Petroleum have succeeded in obtaining the final government approvals for the completion of their transaction,” Reynolds said in a statement on Monday afternoon.“This milestone indicates an improving operating environment in Tanzania and emphasises the commitment of the incoming operator to move forward with the development and unlock the value from this high-quality onshore gas asset ideally situated to provide domestic gas into existing infrastructure and with a ready market for commercialisation.”
He added: “From our perspective, this is a key milestone for our sales process as it provides clarity and certainty on the development of the project.
“We continue to have strong engagement for our sales process, and with this news today, we hope to move those discussions forward with a view to realising value for our shareholders and setting us on our stated growth path."
Solo Oil delighted as Aminex greenlight marks key development for Tanzania assets
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Barrick granted 10 exploration licences in Tanzania
Barrick Gold said it had been granted 10 exploration licences in Tanzania and president and CEO Mark Bristow reiterated the potential for a tier one complex in the country, where it’s resolving issues regarding the former Acacia Mining assets.
Barrick Gold sees Bulyanhulu as potentially part of a tier one complex in Tanzania
Staff Reporter
Barrick said it planned to spend US$8 million on exploration in Tanzania this year.Its North Mara, Bulyanhulu and Buzwagi mines are managed by Twiga Minerals as part of a joint venture and settlement agreed with the government, which Barrick last week described as "a triumph of partnership".
Bristow said a "re-energised" North Mara, where a comprehensive water management plan was being implemented, was ahead of plan in the year to date and Bulyanhulu had resumed underground mining.
"We are gearing up to potentially make North Mara and Bulyanhulu into a combined tier one complex, capable of producing at least 500,000 ounces of gold annually for more than 10 years in the lower half of the industry's cost profile," he said.
"We shall also be looking to expand the life of operations as well as other new Tanzanian opportunities within the Twiga framework."
He did not specify any plans for Buzwagi, where the mill is solely processing stockpiles until mid-2021.
In a presentation, Barrick said year-to-date production stood at 338,000oz on a 100% basis and full-year production was on track "to fall within market guidance".
North Mara had produced 79,000oz in the September quarter, Buzwagi 24,000oz and Bulyanhulu, which is expected to ramp up to full operations in the first quarter of 2021, produced 8,000oz.
It has paid the first $100 million of the agreed $300 million to settle past disputes with Acacia and Bristow said with the framework agreement now fully implemented, Barrick had "settled most of the landowner disputes and are well on our way to ensure that we are fully compliant with our environmental permits as well as with the government's local content legislation."
Barrick shares closed on Friday at C$35.21 in Toronto, capitalising it at $62.6 billion (US$47.6 billion).
Barrick granted 10 exploration licences in Tanzania
Barrick Gold said it had been granted 10 exploration licences in Tanzania and president and CEO Mark Bristow reiterated the potential for a tier one complex in the country, where it’s resolving issues regarding the former Acacia Mining assets.