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The Zambian government has said it will abandon the current 30-day pricing cycle for petroleum products and instead move to a 90-day review period, reversing a policy that was set late last year. However, the Energy Regulation Board (ERB) has told African Energy that changing the price review mechanism cannot happen “overnight” and a number of issues need to be assessed before the current 30-day cycle can be discarded.

Zambia
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Australian Securities Exchange (ASX)-listed AuKing Mining has raised $1.25m to fund drilling at the Mkuju uranium project in Namtumbo district.  

Tanzania
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Dublin-headquartered investor TechMet has taken an option to invest up to $50m in London Stock Exchange-listed Rainbow Rare Earths’ Phalaborwa project in Limpopo province.

South Africa
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Houston-based Murphy Oil has said it will sell some non-core assets in North America to fund work on the Paon discovery in Block CI-103, one of five Côte d’Ivoire offshore blocks it picked up in June 2023.

Côte d'Ivoire
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London AIM-listed Arc Minerals has finalised its Domes region copper joint venture (JV) with mining major Anglo American – the latter’s first new Zambian investment in two decades.

Zambia
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London AIM- and Australian Securities Exchange (ASX)-listed Atlantic Lithium has been granted two new prospecting licences near its existing Ewoyaa acreage, where it is developing a spodumene pegmatite mine and ore processing plant.

Ghana
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Afentra has secured official approval for the acquisition of stakes in two offshore blocks from the state-owned oil company Sonangol. The UK independent said it was now working with Sonangol to finalise the formal completion of the deal.

Angola
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Canada’s Tantalex Lithium Resources has concluded a lithium marketing offtake agreement with Glencore and secured $5m in convertible loans from the Swiss commodities giant.

DR Congo
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Global Atomic Corporation (GAC), developer of the greenfield Dasa uranium mine, said on 10 November the United States government had “expressed support for project financing to proceed”.

Niger
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Dodoma and Kampala have signed a bilateral agreement to jointly fund a feasibility study for a new pipeline to send gas from southern Tanzania to Uganda.

Uganda | Tanzania
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The 1,982km Niger-Benin export pipeline (NBEP) has been nominally commissioned by Niger’s Prime Minister Ali Mahaman Lamine Zeine, although in reality it will be some months before any crude oil is exported along the route.

Benin | Niger
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Tullow has agreed a $400m, five-year debt facility with commodities trader Glencore Energy, giving the UK indie a financial boost. The two sides have also agreed two oil marketing and offtake contracts, which will run concurrently with the debt agreement.

Ghana | Gabon
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First discovered in 1974, the offshore Kudu gas field could provide substantial gas-to-power capacity for Namibia’s domestic market and for export to South Africa. Officials say it will proceed independently of recent massive Orange Basin discoveries further south, but industry observers are sceptical of the electricity export plans, citing the lack of transmission infrastructure with South Africa, write Our Namibia Correspondent and Marc Howard.

Namibia | South Africa
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Following the recent dismissal of Sonatrach chief executive Toufik Hakkar, a further eight vice-presidents have now been dismissed from the national oil company, pointing to wider tensions within the Algiers establishment, writes Our Algiers Corresondent.

Algeria
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Kosmos Energy has taken an operated stake in the 25tcf offshore Yakaar-Teranga gas field, following BP’s exit, and says it intends to export up to 3m t/yr of LNG. Longstanding plans to supply local offtakers through a new pipeline are also set to continue. Meanwhile the cross-border Senegal-Mauritania LNG development continues, but progress could be held up as the Greater Tortue Ahmeyim (GTA) project’s FPSO awaits repairs off Durban, writes Marc Howard.

Mauritania | Senegal