Mining Industry

Africa Oil & Gas: Dutch prosecutors target Shell over Nigeria oil deal

Posted on March 1, 2019March 1, 2019 by Mozambique Resources Post

Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over its $1.3-billion acquisition of Nigerian offshore oilfield OPL 245 in 2011.

Africa Mining: South African court orders suspension of union’s industry-wide strike

Posted on March 1, 2019March 1, 2019 by Mozambique Resources Post

South Africa’s labour court has ordered a mineworkers’ union to suspend its plans for an industry-wide strike from Feb. 28 to March 7 until it issues a ruling on whether to block the action, the union and producer Lonmin said on Thursday.

Africa Oil & Gas: Golar LNG to supply FLNG unit to BP for phase 1 of the Greater Tortue

Posted on February 27, 2019February 27, 2019 by Mozambique Resources Post

Golar LNG has announced that Gimi MS Corp, a newly incorporated subsidiary of the Company, has entered into a 20-year Lease and Operate Agreement (‘LOA’) with BP for the charter of an FLNG unit, Gimi, to service the Greater Tortue Ahmeyim project.

Global Market: Oil Prices Could Soar On Trade War Truce

Posted on February 27, 2019February 27, 2019 by Mozambique Resources Post

President Trump extended the trade talks with China, citing “substantial progress,” which will defuse one of the largest downside risks to the oil market, at least for a while longer.

Africa: Botswana to support Zimbabwe diamond industry with $600m in loans — report

Posted on February 27, 2019February 27, 2019 by Mozambique Resources Post

Botswana has offered to lend Zimbabwe $600 million to support its diamond industry and local private firms, a state-owned newspaper reported on Tuesday, amid a severe dollar crunch in the southern African nation.

Africa Mining: Companies operating in Sub-Saharan Africa should invest in renewable energy — report

Posted on February 27, 2019February 27, 2019 by Mozambique Resources Post

A report published by Fitch Solutions states that due to the prevalence of off-grid remote mineral deposits in Sub-Saharan Africa and the fact that traditional grid-power tends to be unreliable in those mines, mining companies operating in the region should invest in renewable energy.

Global Mining: After Vale disaster, Industry commits to international standards for tailings dams

Posted on February 27, 2019February 27, 2019 by Mozambique Resources Post

The International Council of Mining and Metals says it will establish an independent panel to set global standards for tailings dam design and maintenance, in the wake of last month’s devastating collapse of a structure in Brazil killed hundreds of people.

Mozambique Mining: At least 10 die during clandestine mining in Cabo Delgado

Posted on February 26, 2019February 26, 2019 by Mozambique Resources Post

Ten miners were buried underground as a result of the landslide in a ruby mine, early Monday morning (25), in the Montepuez district of Cabo Delgado province.

Markets: Against The Odds, Big Oil Doubles Down On Megaprojects

Posted on February 25, 2019February 25, 2019 by Mozambique Resources Post

The global oil industry is expected to ratchet up spending on new oil and gas projects this year, with the number of new final investment decisions (FIDs) soaring compared to the past few years.

Mozambique: “Megaprojects tax contribution falls 62.4% in 2018” – Tax Authority

Posted on February 22, 2019February 22, 2019 by Mozambique Resources Post

The contribution to Mozambique state coffers of mega-projects operating in the extractive industry sector amounted to 14,440 million meticais last year, corresponding to 6.8% of the total revenue collected by the State in 2018 (211.9 billion meticais), and a fall of 62.4% compared to the 2017 figure.

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