Tantalum Joint Investment Attracts Only One Offer

May 18 , 2019


African Mining & Energy Pty Ltd, a mining company representing Australian companies engaged in the development of Africa’s resource industry, became the only company to submit its offer for a lithium-tantalum joint investment in Kenticha. The bid was opened by the Public Enterprises Holding & Administration Agency. Thirty-two companies bought the bidding document, but only the Australian company made an offer. The bid was aimed at searching for business partners for joint investment engagement to mine the Kenticha lithium, tantalum and pegmatite deposits and to add value to its concentrates, according to the bid document. The tender committee that consisted of four members - two from the Agency and one each from the Ministry of Mining & Petroleum and Ethiopian Biofuel Corporation - told Fortune that the company’s offer will be evaluated according to the bid document before disclosing the result. Kenticha Tantalum Mine is located in Guji Zone, Oromia Regional State. It has 17,000tn of tantalum deposits. Established in 2000, the site occupies 5.4 square kilometres of land and had an annual production capacity of 200tn of tantalum. It was closed by the region’s Environmental Protection Authority in November 2017 for alleged environmental pollution.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email