African Copper Plc has announced the appointment of Roy Corrans, currently a Non-executive Director of African Copper, as Non-executive Chairman of the company in succession to David Rodier who is retiring from the Board with effect from 12 January 2015. The Company also announces the appointment of Boikobo Paya as an additional Non-executive Director with immediate effect. Boikobo Paya (50 years of age), a Botswana national, was the Permanent Secretary in the Botswana Ministry of Minerals, Energy and Water Resources from October 2010 to August 2014. Paya was the Deputy Permanent Secretary in the same ministry, responsible for the water and energy…
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African Energy (AFR) said conditions precedent to the conclusion of the Sese JV Shareholders Agreement has been met and First Quantum Minerals (FQM) will acquire a stake in the Botswana based project. According to the company, the deal gives FQM the go ahead to purchase an initial 51% stake in African Energy Holdings SRL (AFRH) for $8m and will become project manager for the Sese Project. “FQM will invest a further $12m within 18 months to earn an additional 24% stake in AFRH,” African Energy said. “The $12m funding for AFRH will be used to immediately investigate the development of power…
Pangolin Diamonds Corp. said it has recovered its fourth and largest diamond at the Malatswae project (100% owned). The company has previously reported the recovery of three diamonds from soil samples approximately 13km to the southeast of this new discovery. The location of this fourth diamond, relative to the previous discoveries, signifies that Pangolin has discovered a second separate area of interest within the Malatswae project. Details of the diamond The diamond was recognized by an independent observer in Botswana during routine kimberlite indicator mineral observation, and confirmed by MCC Geoscience as an octahedron. The diamond was…
fastjet Tanzania, the low-cost pan-African airline, is celebrating the major milestone of flying one million passengers across the African continent. This milestone, coming shortly after the airline’s second birthday celebration in November 2014, represents another significant achievement for the low-cost airline as it is embraced into the hearts and minds of travellers in Tanzania and further afield across East and Southern Africa. The first fastjet flights from Dar es Salaam to Mwanza in Tanzania took off in November 2012 and the airline has since flown more than 9,590 flights across its four domestic Tanzanian destinations of Dar es…
fastjet Tanzania, the group’s principal operating company, posted its first profitable trading month at an Earnings before Interest and Tax (‘EBIT’) level in December as it saw strong demand for its services during the very busy holiday season and benefited from low fuel prices. According to the company, yield per passenger rose 20% compared to December 2013 with total revenue for the month up 106 per cent year on year. The contribution generated by the Tanzanian operation was sufficient to create an underlying operating profit for the month at the fastjet Plc group level. fastjet operations in Tanzania…
Outotec has agreed to acquire Kempe Engineering’s aluminum smelter technologies as well as its service and spare parts businesses in the Middle East and Africa. The acquisition is expected to be closed in February 2015. Kempe is an Australian privately owned company providing technology for aluminum smelters, operation and maintenance services, modernization services and spare parts. The parties have agreed not to disclose the acquisition price. The acquisition of Kempe will strengthen Outotec’s technology and service business in the Middle East and Africa, doubling the installed base and providing new capabilities to expand the service business in the region.…
De Beers Group Chief Executive, Philippe Mellier, has revealed that it was undeniable that the consumer landscape in the US is changing as he welcomed Forevermark partners during a private cocktail event in New York. The meeting was meant to address challenges and opportunities facing the diamond industry articulated in the 2014 Diamond Insight Report. The address culminated with attention to the strategic reasons behind the emergence of diamond brands and growth of Forevermark. “It is undeniable that the consumer landscape in the US is changing…There has been a clear increase in consumer preference for brands and people…
World clean energy investment rebounded strongly in 2014, boosted by demand for large-scale and rooftop solar photovoltaics on the back of its greatly improved competitiveness, and by the financing of a record $19.4bn of offshore wind projects. Authoritative annual data, published today by Bloomberg New Energy Finance, show that global investment in clean energy was $310bn last year. This was up 16% from a revised $268.1bn in 2013, and more than five times the figure of $60.2bn attained a decade earlier, in 2004, albeit still 2% below the all-time record of $317.5bn reached in 2011. The jump in investment…
AirlineRatings.com has announced its top ten safest airlines and top ten safest low cost airlines for 2015 from the 449 it monitors. The world’s only safety and product rating website, which was launched in June 2013 said top of the list again is Qantas, the Australian airliner which has a fatality free record in the jet era. Making up the remainder of the top ten in alphabetical order are: Air New Zealand, British Airways, Cathay Pacific Airways, Emirates, Etihad Airways, EVA Air, Finnair, Lufthansa and Singapore Airlines. AirlineRatings.com said its rating system takes into account a range of factors related to…
Tlou Energy has provided results of gas flow testing at the Selemo Pilot which showed it achieved peak gas flow during production testing of approximately 395,000 cfd (cubic feet per day). The company said it was encouraged by the build-up of pressure in the lateral well head since the system was shut-in post the short term production test. According to the unconventional gas outfit, the results to date suggest that the economic threshold for a potential development has been met when all key factors are taken into consideration. Tlou initially began to flare gas at Selemo in November 2014 with…