GHANA:
Corruption and poor management plunge the take-off of the cocoa industry, according to the World Bank: "Corruption and poor management of the sector by the Ghana Cocoa Council (Cocobod) are, according to the World Bank (WB), the two evils that hinder the development of cocoa production and are detrimental to producers of cocoa bean. That is what reveals Reuters, which quotes an interim report from the Bretton Woods institution. According to the financial institution, Cocobod has been unable to achieve one of its key objectives of stabilizing producer prices at a level that allows adequate remuneration for factors of production such as land, labor, and capital. This situation stems from the fact that Cocobod has concentrated in recent years on increasing its export margins (currently double those of Ivory Coast) rather than on improving producers' incomes."
NIGERIA:
The executive requested parliamentary approval to secure a 1.5 billion Dollar loan: "In a letter published on June 6, the interim president of Nigeria, Yemi Osinbajo, asks Parliament for approval to contract a 1.5 billion Dollar loan from foreign institutions. This loan, according to the President, should be used to finance several projects across the country. "In view of the present economic equality of the country, this request is necessary. The populations of several states urgently need basic infrastructure and social facilities," the letter said. The request of the executive intervenes while the debt of the country amounted to 19.15 trillion Nairas ($62.91 billion) last March, against 17.36 trillion Nairas ($22 billion) in December 2016..."
CAMEROON:
The project of a floating plant of natural gas of Kribi realized at 97%: "The National Hydrocarbons Corporation (SNH), meeting for its first regular session of the year in Yaoundé on June 6, 2017, announced the good progress of the Floating Liquefied Natural Gas (Flng) project. The purpose of the unit is the installation and operation of a floating natural gas liquefaction plant off Kribi. "As of April 30, the conversion of the Hilli Episeyo ship into a floating factory was about 97%," said Adolphe Moudiki, SNH's Managing Director. In addition, Moudiki added that the extension of the Bipaga gas processing plant, which will accommodate some installations of the floating plant project, is 91% complete. The Hilli Episeyo ship, with a capacity of 1.2 million tons of liquefied natural gas per year, is expected to deliver its first exportable outputs from 2017 onwards. The floating unit for which Golar LNG has invested over CFAF 700 billion will then produce 30,000 tons of domestic gas each year and 5,000 barrels of condensate each day..."
GUINEA:
Hyperdynamics and SAPETRO complete their lease on oil off Conakry: "In Conakry, Hyperdynamics and SAPETRO concluded the transaction relating to their farming agreement signed on March 31, 2017. Under the terms of the agreement, Hyperdynamics is expected to sell 50% of its shares to SAPETRO on a production sharing contract covering an area of 5,000 km². In exchange, SAPETRO should pay between 8 and 10 million Dollars to its partner, an amount equivalent to half of the investments provided by the latter as of September 15, 2016, in the process of development of the perimeter. In a statement available on the Hyperdynamics website, the company said it had cashed all the funds. The partners also announced that they will make a final reconciliation of the total investments made by Hyperdynamics over the next 45 days starting from June 6, 2017, to "Make Adjustments". A joint operating agreement has also been formalized to decide how operations will be carried out on the site..."
ZIMBABWE:
Premier African Minerals makes a statement of virgin resource to Zulu: "The mining company Premier African Minerals (PAM) has made a declaration of undeveloped mineral resource for its lithium and Tantale De Zulu project in Zimbabwe. According to the Samrec code, the project harbors 20.1 million tons of resources containing 1.06% Li2O and 51 parts per million (ppm) of tantalum pentoxide. This estimate was carried out with a cut-off content of 0.5% of lithium oxide (Li 2O). Zulu would thereby contain 562,000 tons of lithium carbonate equivalent (LTE) and 1,025 tons of tantalum pentoxide. The company said that this estimate covers only 35% of the known length of Zulu over a total area of 3.5 kilometers. In addition, drilling continues for a better exploration of the mineralized zone..."
ZAMBIA:
Copper production will increase by 4% in 2017 (House of Mines): "By 2017, copper production in Zambia will increase by 4% to a new record of 800,000 tons. This is what Bloomberg reports, which quotes the president of the House of Mines of the Country, Nathan Chishimba. This new forecast of the House of Mines is less optimistic than that previously announced by Minister of Mines Christopher Yaluma, who expected 850,000 tons of copper. However, it remains higher than the 770,600 tons produced last year and exceeds the country's current annual production record of 790,000 tons (reached in 2013). Chishimba also said that the negotiations for the proposed increase in the electricity tariff for the mining industry (which accounts for more than half of the country's consumption) are progressing well. "There may be one or two points of disagreement, but I do not think they are a blockage. We hope to see a resolution in the coming weeks," Chishimba said."
Crédit : IMPERIUM MEDIA
