Business

Tue,28Mar2017

Business

Mozambique oil and gas contracts to be signed early next year

A truck passes a pump at an Exxon Mobil station in Williamsville, USA. Photo: David Duprey/AP/SIPAMozambique's National Petroleum (INP) expects to sign new oil and gas prospecting contracts by early next year with the companies awarded rights to test for hydrocarbons across the country, an official said today.

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S.Africa mine sector on a "knife edge" due to political strife: Sibanye CEO

A closed mine shaft in Welkom, South Africa, May 2016. Photo: Themba Hadebe/AP/SIPASouth Africa's key mining industry is at risk of collapse due to political unrest and labour instability which have negatively impacted investment into the country, the chief executive of the nation's biggest gold company said today.

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Fastjet chairman resigns as airline seeks more funds

Photo via fastjet.comAfrican budget airline Fastjet said it would seek more funds sooner than originally expected to achieve a turnaround, prompting Chairman Colin Child to resign on Friday after months of the company battling its second-biggest investor to retain him.

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Uganda cocoa output expected to rise 15% in three years

Cocoa beans being left out to dry near Duekoue, Ivory Coast. Photo: Rebecca Blackwall/AP/SIPAUganda's cocoa production is likely to increase by 15% over the next three years, boosted by additional maturing trees in the country's western region, a leading industry executive said today.

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Consortium led by French group Total wins Ivory Coast LNG deal

French oil major Total has established a consortium to build a liquid natural gas import terminal  in Ivory Coast. Photo: ReutersFrench oil major Total, the Ivorian state oil company and four other partners have formally established a consortium to build a liquid natural gas (LNG) import terminal meant to feed the country's growing electricity consumption.

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Boost to Algeria's economy through steel plant joint venture

Most of Algeria's steel is imported at the moment. Photo: Reuters/stockDubai-based conglomerate Emarat Dzayer Group said it had signed a joint venture agreement to develop a $1.6 bn steel factory in Algeria, boosting the North African country's drive to diversify its economy and attract foreign investment.

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South Africa's Tiger Brands FY profit up after Nigeria sale

Photo via Tiger BrandsSouth Africa's biggest consumer foods maker, Tiger Brands, reported a 19% rise in full-year profit today, after disposing of a loss-making Nigerian unit.

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