China’s Guangzhou Dong-song Energy Group has negotiated a 49-year lease to mine the phosphates deposits in eastern Uganda. Estimated total deposits stand at 230 million tonnes and cover an area of 26 square kilometres.
AIM and JSE-listed nickel exploration and development company African Eagle Resources plc ‒ struggling to raise funding for further development of its assets, mainly in Tanzania ‒ has announced that it is cutting back on expenditure prior to restructuring and re-organisation of its exploration activities.
BG Tanzania has announced that it has completed another successful drill stem test in offshore Tanzania about 45km from Mtwara, with tests on the Mzia-2 well flowing at a maximum rate of 57 million standard cubic feet (mscf) of natural gas per day.
AngloGold Ashanti Limited, the world’s third-biggest gold producer, and its partner Stratex International plc are expected to begin drilling for the precious metal in Somalia on the horn of Africa in September.
The Tanzanian mining sector has a crucial and significant contribution to play in the country’s future economy, despite the fact that it is currently facing a variety of internal and external challenges.