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Wednesday, April 12, 2017

Morocco Sign MOU with Tananzania Investment Centre

The Moroccan Center for Export Promotion (Maroc Export) and the Tanzania Investment Center (TIC) signed a Memorandum of Understanding for Cooperation during the 2nd Edition of African Business Connect, held in Dar Es Salam on 5th April 2017.

 “We have signed economic agreements with Tanzania.
 These are necessary for the growth of trade among African countries,” said the Moroccan ambassador to Tanzania, Mr Abdillah Benr Yane.


Organized by Maroc Export and BMCE Bank of Africa to boost exchanges between public and private Moroccan-Tanzanian actors, the event received more than 300 participants from both countries.

The inaugural session was graced with the presence of a wide range of officials and representatives of various organizations, including Pr. Adolf MKENDA, Permanent Secretary of the Ministry of Trade and Investment of Tanzania, Mrs. Zahra MAAFIRI, General Manager of Maroc Export, Mr. Godfrey SIMBEYE, Executive Director of Tanzania Private Sector Foundation (TPSF), Mr. M’Fadel EL HALAISSI, Deputy CEO – BMCE Bank Of Africa, Mr. Ammish OWUSU AMOAH, CEO Bank of Africa Tanzania (BOA), Mr. Mohammed BENAYAD, General Secretary of Department of Foreign Trade, Ministry of Trade, Industry, Investment, and Numeric Economy of Morocco, Minister Khalid Salum Mohamed, Minister of Finance of Zanzibar, and H.E Mr. Abdelilah BENRYANE, Ambassador of the Kingdom of Morocco.

The mission aims to leverage the abundant business opportunities in Tanzania and shed light on the potential of cooperation in such fields the electricity/renewable energies, import/export, construction and real estate, transport, telecom, Finance, an official press release explains. Clifford Tandari, Executive Director of TIC commented that Moroccan investors also eyed mining and agroprocessing.


 “Some Moroccan investors have conducted a study and found huge potential in fisheries. They intend to set up a giant fish processing factory [in Zanzibar],” Minister Salum added. In October 2016 King Mohammed VI of Morocco visited Tanzania to sign 21 Memorandums of Understanding (MoUs) for economic development in key sectors such as energy, mining, gas, aviation, agriculture, and tourism, as part of Morocco’s aim to establish relations of mutual benefit with African countries.

AfDB Approves USD 29.8 Million Loan To Boost Tanzania’s Natural Gas Sector



The African Development Bank (AfDB) has approved a USD 29.8 Million loan to Tanzania to help the country mobilize domestic resources and unlock the potential of its natural gas resources through leveraging domestic markets and local content initiatives.

 The approval follows a workshop held in Dar Es Salaam on 20 March 2017, co-organized by the National Economic Empowerment Council (NEEC) of Tanzania and the African Natural Resources Center of the AfDB, under the theme “Unlocking the potential of gas resources In Tanzania, leveraging domestic markets and local content requirements”.

The one-day workshop held in Dar Es Salaam focused on local content and gas utilization at national and regional levels and was attended by representatives from public and private sector, both national and international.

The Executive Secretary of the NEEC, Beng’I Issa, addressed the workshop, saying that the Council “looks forward to a fruitful collaboration between public and private sector to achieve the intended goal of empowering Tanzanians”.

 The approved project will help Tanzania capture the best value from their natural gas resources through a sound regulatory framework to manage natural gas reserves and to attract investment, as well as support for government negotiations teams to ensure the country gets the best deals and local content policies formulation to create jobs in the gas sector.

 The project will also contribute to designing strategies for domestication of natural gas, so that the gas resources can be utilized nationally and regionally to develop the energy and industry sectors. While the large gas offshore discoveries can be a game changer for the country, doubling GDP, developing access to energy at national and regional levels and facilitating industrial development, it also represents significant challenges, the AfDB explains.


“The AfDB is stepping up its support to the Government of the United Republic of Tanzania to develop the gas sector that is potentially transformative for the country,” AfDB’s Country Manager for Tanzania (OIC), Chidozie Emenuga, said. Tanzania Gas Tanzania’s estimated natural gas reserves currently (2016) stand at 57 trillion cubic feet (TCF).

As included in Tanzania’s Natural Gas Policy from 2013, the country aims at achieving a competitive natural gas industry contributing significantly to broad based growth and socio-economic transformation of Tanzania.

Friday, April 7, 2017

Hungary Agree to Support Tanzania Industry

President Magufuli receives the credentials from Hon. Eduard Mathe Laszlo. Ambassador of Hungary to Tanzania

The newly appointed Hungarian Ambassador to Tanzania Hon. Eduard Laszlo Mathe has assured President Magufuli that his country is ready to cooperate with Tanzania in developing its industrial sector. 

The announcement was made at the State House in Dar es Salaam on 23rd March 2017, when handing over his credentials. Hon. Eduard has congratulated President Magufuli for his efforts in developing the Tanzanian economy and has promised that Hungary will promote and strengthen its cooperation with Tanzania to bring technology in various sectors, including manufacturing and agriculture and will encourage investors to come and invest in the country.

 During the ceremony, President Magufuli has also received the credentials of the Ambassador of Belarus to Tanzania Hon. Dmitry Kuptel, who indicated that his country has set itself to strengthen its presence in Africa and in Tanzania by increasing investment in industry and commerce.



Other ambassadors who presented their credentials are the Ambassador of Guinea Hon. Sidibe Fatoumata Kaba, the Ambassador of Botswana Hon. Lebonaamang Thanda Mokalake, the Ambassador of Niger Hon. Adam Maiga Zakariaoum, and the Ambassador of Mauritius Hon. Jean Pierre Jhumun. 

“I am told Mauritius makes good textiles and sugar produces, and I will be very happy to see investors from Mauritius to produce sugar in Tanzania,” President Magufuli said. Hon. Magufuli President assured all the newly appointed ambassadors that Tanzania will continue to further strengthen economic relations and cooperation with them.



President Magufuli receives the credentials from Hon. Eduard Mathe Laszlo. Ambassador of Hungary to Tanzania

Read more at: http://www.tanzaniainvest.com/economy/trade/hungary-industry and follow us on www.twitter.com/tanzaniainvest 

Helium Exploration in Tanzania to Start in 2018




Tanzania’s Deputy Minister for Energy and Minerals Dr. Medard Kalemani said during a recent parliamentary session that helium exploration in Lake Rukwa is expected to start next year. Around 54 billion cubic feet (Bcf) of unrisked prospective recoverable helium resource have been recently estimated in the Lake Rukwa area in Southwestern Tanzania.

 Dr. Kalemani clarified that actual production would start after the completion of all the necessary studies and environmental impact assessment.

“The government needs to ascertain the amount of gas available before issuing any production licenses,” he added. Currently, Helium One Limited hold an exploration license for helium gas in Rukwa Region.


n March 2017, Solo Oil plc (AIM: SOLO), an oil and gas investment company with assets in Tanzania (natural gas), West Africa, the UK, and Canada, announced that it has agreed to acquire a 10% interest in Helium One Limited for a total consideration of GBP2.55 milliob.

Solo has also been granted a 90-day call option to increase its investment in Helium One by a further 10%, for an additional investment of GBP 4 million.

 According to Neil Ritson, Solo’s Chairman “The global helium market is anticipated to see a sharp drop in supply in the next five years as the US Strategic Reserve ceases sales, and with helium’s increasing use in modern life, such as MRI scanners, Solo has identified Helium One’s world-class assets in Tanzania as a compelling and complementary investment for Solo’s portfolio of oil and gas investments.

” Global demand for helium is growing at a rate that is outstripping supply, which presents a significant pricing opportunity for future producers.


Tanzania has been identified as a key country for helium exploration based on the evidence of surface gas seeps in the geological rift valleys adjacent to the Tanzanian Craton, as well as its strategic location for global exports through its deep-water port at Dar es Salaam.

EU to Support Tanzanian Budget with EUR 205 Million


Mr Doto James, Permanent Secretary of the Ministry of Finance and Planning, and H.E. 

Roeland van de Geer, Head of the European Union Delegation to Tanzania and the East African Community, signed on 3rd March 3017 the Financing Agreement for a new budget support program worth EUR 205 million. 

The Tanzania Economic and Fiscal Governance Programme will contribute to the effective implementation of the Second Five Year Development Plan (FYDP-II) of Tanzania (2016/2017-2020/2021), by providing direct financial support to the budget and ensuring that the necessary fiscal policies (i.e. policies in Domestic Revenue Mobilisation, Public Expenditure Management and Accountability of public funds) are adopted and followed-through. 

The financing is part of EUR 626 million grant that the EU has allocated to Tanzania under the 11th European Development Fund (EDF) for the period 2014 – 2020 to support government budget as well as energy and sustainable agriculture sectors. 

Two complementary measures to this budget support are part of this programme: support to the Tanzania Revenue Authority (TRA) in their tax modernisation programme and a facility to provide high-quality research to foster the policy dialogue on economic governance. 

The funds will be disbursed in four yearly payments depending on progress made by the Government of Tanzania in the areas specified in the Financing Agreement. Mr. Doto James said, “The support will play an important role in complementing domestic resources for financing priority expenditures under the 5-Year Development Project Phase II.

 The Government greatly values and appreciates European Union’s commitment to Budget Support and would like to encourage other Development Partners to re-consider use of the instrument in channeling their financial support. 

I re-affirm the 5th Phase Government’s steady commitment to sound and prudent economic and public financial management and accountability”.

 H.E. van de Geer explained, “The Second Five Year Development Plan is intended to make Tanzania less of an agriculture-based economy and more of an industry-based economy. 

This requires substantial amounts of money and these financial resources will need to come from domestic taxes, financial markets, the private sector and development partners. 

The contract that will be signed here today, will help the Ministry of Finance and Planning to do exactly that; it will help the Ministry to achieve enhanced revenue mobilisation, improved accountability and greater efficiency in public expenditure.

” “We are fully aware of the considerable political and economic challenges that remain at present in Tanzania, and are committed to supporting the Government in facing them.

 It is felt that this Sector Reform Contract is best suited to assist Government in improving its economic and fiscal governance, and therefore achieve the progress it has set out for itself in the second Five Year Development Plan,” van de Geer concluded. 

In November 2016, the EU announced it commitment to stronger relations with Tanzania and that there is room for increased European investments to the country, if a number of obstacles to doing business are efficiently tackled by the Government of Tanzania.

Tuesday, March 14, 2017

Gas Reservoir at Ntorya-2 in Ruvuma Has Potential for Commercial Development



Oil exploration and production company Aminex (LON:AEX) recently announced that during the production testing on the recently drilled Ntorya 2 appraisal well, no formation water was produced, leading the company to conclude that the area contains a significant volume of gas.

 Jay Bhattacherjee, CEO of Aminex said: “The overall results of Ntorya-2 have substantially exceeded Aminex’s expectations and now we have the potential for a commercial development project in the Ruvuma Basin. Ntorya-2 is currently being suspended for future production. Further analysis of the well results is ongoing and we will keep shareholders informed of progress.” He added:

 “Despite the measures we had to take to control the well during drilling, due to a large gas influx in the reservoir section, the Ntorya-2 test clearly supports our belief that there is a considerable gas basin to be exploited in our Ruvuma onshore acreage which we are looking forward to developing.
 This project should ultimately be of immense benefit to the Tanzanian economy and is an excellent result for our patient and supportive shareholders and all other stakeholders.
” Aminex will now complete a full analysis of all technical data prior to applying for a 25-year development license over the Ntorya appraisal area.

 Ntorya-2 was drilled in the onshore Ruvuma Basin of southern Tanzania, on the Mtwara Licence (Aminex 75%, operator) that is governed by the Ruvuma Production Sharing Agreement.

 In an exclusive interview with TanzaniaInvest in July 216, Bhattacherjee explained that Aminex does not have the financing needed to develop Ruvuma and that the appraisal was needed first.

“After we have the gas volume approved, we’ll decide what to do: dive into the project with financing investors, or raise the bank finance necessary to continue”, Bhattacherjee concluded. SHARE TWEET PIN SHARE


Mkuranga Tile Plant Construction Work Started



On 2nd March 2017, the President of the Tanzania John Magufuli has laid the foundation stone of the Goodwill Tanzania Ceramic Company Limited tile plant in the Mkuranga District, north of Dar Es Salaam.

 The factory has an estimated constructing cost of USD 50 million for the first phase and will be able to produce 80,000 square meters of tiles per day, and will directly employed 1,000 people.

Speaking at the event, the Secretary of the Ministry of Industry, Trade and investment, Dr. Adelhelm Meru reminded that under Tanzania’s fifth-phase government lead by President Magufuli, a the total of 2,169 small, medium and large manufacturing industries are registered with the Tanzania Investment Centre (TIC) and are in various stages of completion. The Chinese Ambassador to Tanzania Hon.

 Dr. Lu Youqing congratulated President Magufuli for its efforts to promote economic growth in Tanzania and has noted that China will continue to cooperate with Tanzania to promote investment in the country, including in the building industry. Ambassador Youqing also reminded that the Chinese direct investments to Tanzania China totaled USD 6.6 billion at the end of June 2016 and generated 150,000 direct jobs and 450,000 indirect jobs.

The construction works of the Goodwill tile plant were supposed to start in December 2016. The roofing tiles produced will be distributed across the member states of the East African Community (EAC), according to Frank Yang, CEO of Goodwill Ceramic Limited.

Read more at: http://www.tanzaniainvest.com/construction/mkuranga-tile-plant-construction-work-started and follow us on www.twitter.com/tanzaniainvest 

Kiokosi kipya cha Taifa Stars 2017




Kocha wa timu ya taifa ‘Taifa Stars’ Salum Mayanga ametangaza majina 26 ya wachezaji watakaounda kikosi cha timu ya taifa kwa ajili ya maandalizi ya kufuzu kucheza michuano ya CHAN pamoja na ile ya AFCON.
Magolikipa: Aishi Manula (Azam), Deogratius Munishi ‘Dida’ (Yanga) na Said Mohammed (Mtibwa Sugar).
Mabeki: Shomary Kapombe (Azam), Hassan Kessy (Yanga), Mohammed Hussein ‘Tshabalala’ (Simba), Gadiel Michael (Azam), Andrew Vincent (Yanga), Salim Mbonde (Mtibwa Sugar), Abdi Banda (Simba) na Erasto Nyoni (Azam FC).
Viungo: Himid Mao (Azam), Jonas Mkude (Simba), Salum Abubakar ‘Sure Boy’ (Azam), Said Ndemla (Simba), Frank Domayo (Azam), Muzamiru Yassin (Simba), Simon Msuva (Yanga), Shiza Kichuya (Simba), Farid Mussa (DC Tennerife) na Hassan Kabunda (Mwadui FC).
Washambuliaji ni Mbwana Samatta (KRC Genk, Ubelgiji), Thomas Ulimwengu (AFC Eskilstuna, Sweden), Ibrahim Hajib (Simba), Mbarak Yussuf (Kagera Sugar) na Abdulrahman Mussa (Ruvu Shooting).
Stars itaingia kambini Machi 19 mjini Dar es Salaam na itacheza mechi mbili za kirafiki za kujipima nguvu.
Mechi hizo zitachezwa kwenye uwanja wa Taifa, Dar es Salaam dhidi ya Botswana Machi 25 na Burundi Machi 28.

Taifa Stars itaanza na Rwanda katika kuwania tiketi ya CHAN mwakani nchni Kenya na mechi ya kwanza itachezwa Uwanja wa Taifa mjini Dar es Salaam kati ya Julai 14 na 16 kabla ya timu hizo kurudiana Uwanja wa Amahoro, Kigali kati ya Julai 21 na 23.
Ikifanikiwa kuitoa Rwanda, Tanzania itamenyana na mshindi kati ya Uganda na ama Sudan Kusini au Somalia katika Raundi ya Tatu ya mchujo mechi ya kwanza ikichezwa kati ya Agosti 11, 12 na 13 na marudiano kati ya Agosti

Saturday, February 11, 2017

Tanzania Forecast Annual Power Demand to Increase by 71% by 2020



Tanzania forecasts its annual power demand to increase by 71%, from 7,860 GWh in 2016 to 13,430 GWh in 2020.
This was indicated in the recently published update of the Power System Master Plan (PSMP) by the Ministry of Energy and Minerals (MEM) of Tanzania.

 PSMP notes that the main factors leading to power demand growth in Tanzania are: GDP Growth: the past GDP growth rate of Tanzania was average 7% per year, and the future GDP growth rate will be similar, driven by gas development, establishment of transportation infrastructure, increase of Foreign Direct Investment (FDI), increasing level of education, construction of communication facilities and construction of modern households.

Gas Infrastructure: gas intensive business will be promoted by the development of gas infrastructure such as chemical, Liquefied Natural Gas (LNG) and transportation industries. Such industries consume a lot of electric power for their production activities.

 Industrial Power Consumption: the power demand growth rates for industrial and commercial sectors are expected to reach 18% per year from 2015 to 2020 while the growth rates are 11% for industry and 13% for commercial sector afterward.

Residential Power Consumption: the growth rate of power demand in residential sector will increase with average 11% per year from 2015 to 2040. Electrification Rates: since the electrification rate of Tanzania in 2015 is 41%, there is a room for increasing the electrification rate, which is assumed to reach more than 50% in 2020 and 90% in 2035.

Power consumption per capita is 137 kWh in 2016; it is rather small compared to other developing countries such as Kenya, Ghana and Zambia. In the future, it will become 240 kWh per capita in 2020 and 1,050 kWh per capita in 2040.

“Currently, power supply in Tanzania cannot meet the demand. Such imbalance has to be solved as soon as possible.
 During the period when the shortage is gradually relieved, power demand will grow at higher rate than normal.
 In PSMP 2016, it is assumed that the power shortage will be relieved toward the year 2020,” PSMP indicates.

 Tanzania Power Tanzania’s power resources include hydro, natural gas, coal, uranium, wind, geothermal, biomass, solar, tidal and waves. Currently (2016), Tanzania’s total grid installed capacity is 1,357.69 MW composed of hydro 566.79 MW (42%), natural gas 607 MW (45%) and liquid fuel 173.40 MW (13%). To meet the growing demand for electricity, the Government is planning to increase Tanzania’s generation capacity to 10,000 MW in 2025. To achieve this goal, the Government of Tanzania has embarked on reforming the Electricity Supply Industry (ESI) mainly by attracting private capital in the industry.

Mabalozi wafunguka kinachowakuna kwa JPM



Mabalozi wanaoziwakilisha nchi zao hapa Tanzania, wamempongeza Rais Magufuli pamoja na serikali ya awamu ya tano kwa jitihada zake za kupambana na rushwa, kujenga nidhamu kwa watumishi wa umma na kuimarisha uchumi.
Akizungumza kwa niaba ya mabalozi wenzake katika sherehe ya kuaga mwaka mpya kwa Mabalozi na Wawakilishi wa mashirika ya kimataifa (New Year Diplomatic Sherry Party) iliyofanyika Ikulu Jijini Dar es Salaam, Kiongozi wa wanadiplomasia hao Mhe. Edzai Chimoyo ambaye ni Balozi wa Zimbabwe hapa nchini, ameahidi kuwa yeye na wenzake wapo tayari kutoa ushirikiano kwa Serikali ya Awamu ya Tano.
Pia amepongeza juhudi kubwa zilizofanywa kufufua Shirika la Ndege (ATCL) kwa kununua ndege mpya ambazo licha ya kurahisisha usafiri zitasaidia kukuza sekta ya utalii hapa nchini.
Akihutubia sherehe hizo, Rais John Magufuli amezialika nchi mbalimbali na wadau mbalimbali wa maendeleo kuunga mkono juhudi zinazofanywa na Serikali ya Awamu ya Tano katika kujenga uchumi wa viwanda utakaoiwezesha Tanzania kuingia katika nchi ya kipato cha kati.

Mhe. Dkt. Magufuli amesema ifikapo mwaka 2020 Tanzania imedhamiria uchumi wake ukue kwa wastani wa asilimia 10, sekta ya Viwanda iajiri asilimia 40 ya watanzania na pato la mtu kwa mwaka likue hadi kufikia wastani wa Dola 3,000 za kimarekani (sawa na Shilingi na takribani shilingi Milioni 6 na Laki 6 kwa mwaka)

Pia amewaomba wawahamasishe wadau watakaokuwa tayari kushirikiana na Tanzania katika utekelezaji wa miradi ya ujenzi ikiwemo ujenzi wa reli ya kati yenye urefu wa Kilometa 1,200 kwa kiwango cha kisasa (Standard Gauge)kuanzia Dar es Salaam hadi Mwanza na Kigoma na kuunganisha hadi nchi za Burundi, Jamhuri ya Kidemokrasia ya Kongo na Rwanda,na kwamba tayari Serikali itaanza kujenga Kilometa 300 za kuanzia Dar es Salaam mwaka huu.
Kuhusu mwaka uliopita, Mhe. Rais Magufuli amesema Serikali imeanza kutekeleza awamu ya pili ya Mpango wa Maendeleo (2016-2021) uliopangwa kugharimu Shilingi Trilioni 107 ambapo kati ya fedha hizo Shilingi Trilioni 59 zitatolewa na Serikali ya Tanzania na kiasi kinachobaki kitatolewa na wadau mbalimbali wa maendeleo.
Mhe. Dkt. Magufuli amebainisha kuwa katika kutekeleza mpango huo, Serikali imechukua hatua ya kuongeza bajeti ya maendeleo kutoka asilimia 26 hadi kufikia asilimia 40 katika mwaka huu.

Monday, February 6, 2017

Mtanzania anayecheza soka PSG ya Ufaransa




Mtanzania Haytham Saduun ameeleza safari yake ya soka ilivyokuwa kutoka Bongo hadi kufika kwenye academy ya PSG ya Ufaransa moja kati ya vilabu vikubwa barani Ulaya.
Haytham ambaye kwa sasa anamiaka 18, safari yake ya soka imeanzia katika timu ya vijana ya Mtibwa Sugar ya mkoani Morogoro ambapo alikuwa anakipiga kabla ya kwenda Uarabuni kwa matembezi kisha kutumia fursa hiyo kusonga mbele zaidi.
Kijana huyo anaetokea maeneo ya Temeke-Mwisho (Kitomondo au Wailes) anasema alipata safasi ya matembezi kwenda Oman ambapo wakati yupo huko alipata fursa ya kucheza kwenye academy ya Muscat akaonesha uwezo wakamuhitaji na kumpa muda zaidi.
Safari ilivyoanza
“Nilipata nafasi ya kwenda Urabuni (Oman) nikapata nafasi ya kucheza academy ya Muscat baada ya kufanyiwa trial kwa siku tatu. Kulikuwa na safari ya kwenda Dubai kwa ajili ya mashindano ya Dubai Super Cup, tulicheza mashindano yale na kufanikiwa kuchukua ubingwa huku mimi nikifanikiwa kufunga magoli matatu katika michuno hiyo na kuonesha kiwango kizuri,”-Haytham.
Dili la PSG linaibuka
Kulikuwa na ma-scout mbalimbali kutoka nchi za Ulaya, alikuwepo pia muwakilishi kutoka Ufaransa ambaye alinihitaji kwa sababu alianza kunifatilia tangu nikiwa academy (Muscat, Oman).
Alinifanyia mipango ya kunipeleka Paris St Germain baada ya kila kitu kukamilika tukaenda pamoja na wenzangu wengine kwa ujumla tulikuwa watu sita. Tukafanya trial kwa muda wa siku tano na bahati nzuri nikafanikiwa kufuzu mimi pekeangu.

Imepata sponsorship ya kuingia professional kwa hiyo mwaka huu kama Mungu akipenda naweza nikafika hapo kutokana na mipango inayofanyika sasa hivi
Vipi kuhusu kuitumikia Tanzania?
Nilipata nafasi ya kubadilisha uraia lakini uongozi wangu ukakataa kwa sababu tuna kauli yetu moja inaitwa ‘Tanzania Kwanza’. Mimi nipo tayari kujitolea kuitumikia nchi yang na kuitangaza hata kama ningekuwa na mguu mmoja nikiitwa timu ya taifa nitakuwa tayari.

 Ushauri kwa vijana wa kibongo
Nimepitia mambo mengi magumu sana katika harakati zangu, lakini kumuweka Mungu mbele ni muhimu sana. Hapa nyumbani ushirikina umewekwa mbele sana lakini uchawi kwenye mpira ni mazoezi, jitihada binafsi na nia.

Hakuna kinachoshindikana chini ya jua, nitajitahidi na kuongeza nguvu zaidi na kufanya kila kinachowezekana huku nikiweka mbele malengo yangu ya kufika sehemu ninayotaka, natamani kuwa mchezaji wa kwanza kucheza ligi kuu ya Ufaransa.

Russia to Finance Tanzania Nachu Graphite Project



Australian graphite developer Magnis Resources (ASX:MNS) recently signed a Memorandum of Understanding (MoU) with Russia’s nuclear corporation ROSATOM for project financing and offtake of its Nachu graphite project in southeast Tanzania.

Under the MoU, both organizations will work together towards a binding offtake agreement once further negotiations take place and certain milestones are met.

“Interest revolves around the Super Jumbo (+500 microns) and Jumbo (+300 microns) flake graphite sizes. The larger flake sizes are currently being consumed by ROSATOM in several of its business divisions including nuclear power generation, aerospace and creating composites,” Magnis indicates.

Frank Poullas, Chairman of Magnis, commented: “Today’s announcement is a key step towards a binding offtake agreement for our Super Jumbo and Jumbo products and potential financing with the world’s largest nuclear power technology company.” “ROSATOM is the world leader in the development and construction of nuclear reactors with over USD130b worth of orders in place.

Larger flake graphite which our Nachu Project will produce is a key material used in these nuclear reactors and it is highly sought after. Our project therefore is strategically important to ROSATOM over the longer term.

” “The Magnis board looks forward to a long fruitful relationship with ROSATOM and our focus now is to move the MOU into a binding offtake agreement.” Alexander Merten, President of ROSATOM, added:
 “We are pleased to enter into this MoU with Magnis. ROSATOM is known for the quality of its products and we are seeking to develop long term partnerships with the highest quality graphite producers in the world. Magnis has these key attributes.”

Nachu Graphite Project The Nachu graphite project in southeast Tanzania is 100% owned by Magnis and represents one of the largest mineral resources of large flake graphite in the world. The Nachu operating life is estimated at approximately 15 years.

“This comprises approximately 11.7 years at 240,000 tpa nameplate concentrate output after which lower grade ore stockpiles are processed for another 3.5 years at an average concentrate output rate of 160,000 tpa,” as indicated in the Magnis website.

ROSATOM, through its subsidiary Uranium One, is the owner of the Mkuju River uranium project located in southern Tanzania.

Tanzania Graphite Tanzania’s largest graphite deposits are located in the central and east southern regions of the country.

 At the end of 2015, The Tanzanian Ministry of Energy and Minerals (MEM) announced that Tanzania will soon become one of the largest producers of graphite in the world, due to recent and abundant discoveries of graphite fields across the country.

 Graphite discoveries in Tanzania come mainly from Australia based graphite developers, Magnis Resources (ASX:MNS), Volt Resources (ASX:VRC) and Kibaran Resources (ASX:KNL).
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