Mining Industry

MEASURED RESOURCES UNDERPIN A MINIMUM OF 20 YEARS OF OPERATION AT 39% Fe HEAD GRADE Baobab Resources Plc (‘Baobab’ or the ‘Company’), the Mozambique focused resource development company, is pleased to provide the following summary of the Measured resource estimation of the Tenge resource block at the Company’s 85% owned Tete pig iron and ferro-vanadium project (the ‘Tete Project’) in which International Finance Corporation (‘IFC’) hold a 15% participatory interest. HIGHLIGHTS Based on the results…

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The Zambian mining sector has been in a state of high tension since populist Michael Sata became the country’s president at the end of September 2011. During his election campaign, Sata promised to redistribute mining revenues, the biggest contributor to the country’s GDP, more fairly. Since his election, the country has been divided between supporters and opponents of his controversial 10% tax on exports of ores and concentrates. This tax is aimed principally at companies…

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Rio Tinto Coal Moçambique (RTCM) in 2013 spent US$295 million on goods and services from Mozambican companies, said Pedro Sacadura Botte, the financial and public relations director of the Rio Tinto group subsidiary. The acquisitions included fuel, coal and personnel transport, security, catering, consulting, office supplies and other goods and services. Sacadura Botte said that “the company is committed to the development of local businesspeople, which is one of the essential factors for sustainable development…

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The 90 rail trucks leased by British company Beacon Hill Resources to transport coal mined in Tete, Mozambique, are expected to go into service soon, the company said. According to a statement from Beacon Hill, the trucks are expected to go into use after they are released by customs. They arrived at the port of Beira, in Mozambique on 7 March and have already been inspected by technical staff from start port and rail manager…

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