News

The federal government has announced plans to auction bitumen blocks in the third quarter of this year. Olamilekan Adegbite, minister of mines and steel development, made the announcement in a statement issued by Ayodeji Adeyemi, his media aide, on Tuesday. The minister was responding to an enquiry made by John… Read more »

GOVERNMENT has said it remains committed to ensuring that extensive exploration works in the petroleum (and oil) sector are carried out because it is in a hurry to discover the rich mineral resource in Zambia. Minister of Mines and Minerals Development Hon. Richard Musukwa said the government of His Excellency,… Read more »

African nations could play a central role in efforts by India to diversify its sources of oil and gas, India’s oil minister said on Wednesday, as the nation strives to reduce its energy reliance on the Middle East. India, the world’s third biggest oil importer, has asked state refiners to… Read more »

Nigerian Minister of State for Petroleum Resources Timipre Sylva announced the approval last week. “We are happy to announce the rehabilitation of the Port Harcourt refinery will commence forthwith,” he said. Nigerian National Petroleum Corp.’s (NNPC) Port Harcourt Refinery Co. (PHRC) owns the Port Harcourt complex. The facility includes two… Read more »

The Saudi Industrial Development Fund (SIDF), the kingdom’s main financial enabler for its industrial transformation, has approved 212 loans worth $4.5 billion in 2020. These loans were for a total of 201 companies involved in different fields such as industry, mining, energy, and logistic services. The approved loans covered different… Read more »

Egypt aims to become a world class mining hub, raising exports to $10bn by 2040, up from $1.6bn currently, Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla said on Thursday. His statements came during AmCham Egypt’s Monthly Virtual Meeting addressing “Egypt’s Strategy to Promote Investments in the Mining Sector.”… Read more »

A company controlled by billionaire mining investor Robert Friedland has raised $200m for the development of a large iron ore deposit in an environmentally sensitive part of Guinea. The funds received from an equity issue will help High Power Exploration, a private US company run by Friedland, accelerate work on… Read more »

The Government of Nigeria bans all mining activities in Zamfara State

Nigerian President Muhammadu Buhari approved the imposition and enforcement of an indefinite ban of all mining activities in Zamfara State, National Security Adviser Mohammed Babagana Monguno announced on Tuesday. Monguno said the decision was necessitated by a rise of insecurity in the state and greater northwest region which has seen… Read more »