Archive for May, 2012

More Oil at Somali Well

(HornTrade) – Horn Petroleum has encountered further oil at its Shabeel-1 well that it is currently drilling in Puntland, Somalia, according to stock exchange announcements made in London on Monday from Horn’s partners Range Resources and Red Emperor Resources. Read the rest of this entry »

Djibouti: Prominence Among African Ports

(HornTrade) -  A LARGE investment programme worth $4,3bn is being undertaken by the Djibouti Ports and Free Zones Authority (DPFA) to expand its operations and support the growing economy of its larger landlocked neighbour and main customer, Ethiopia. The plan is to add five ports to a sprawling complex incorporating a new free trade zone, the authority’s chairman, Aboubaker Omar Hadi, said in an interview last week. Read the rest of this entry »

Djibouti: Maritime Renewed Ambition

(HornTrade) – With five new terminals dedicated to oil, gas, salt, livestock and potash, the port of Djibouti will take a new dimension by 2017.

“It’s confirmed,” said Omar Hadi Aboubaker. The president of the Ports Authority and the Djibouti free zone can be satisfied: the government has officially launched the project to build the ore terminal Tadjourah, located across the Gulf of the same name, opposite the capital. The Port Authority must specify the company supervisor before the end of the month, the first sod is expected in early June.
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Somaliland: Mindesta to Earn Interest in Third Exploration Permit

(Horntrade) – Mindesta Inc. wishes to announce that it now has an option to earn an interest in a third exploration permit in the Republic of Somaliland. Mindesta is already earning up to an 80 per cent interest in, and can ultimately acquire 100% of, the first two mineral exploration permits issued by the Republic of Somaliland under an existing Option Agreement with Nubian Gold Corporation (“Nubian”). Nubian was recently awarded a third permit, Abdul Qadir, which is approximately 2,000km2 in size and is located in the northeast part of Somaliland adjacent to the borders with Djibouti and Ethiopia. Abdul Qadir is automatically included in Read the rest of this entry »

South Sudan: Ethiopia, Djibouti Delegations in Juba for Pipeline Construction Strategy

(HornTrade) – A high level delegation from both the neighboring State of the Republic of Ethiopia and Djibouti arrived in Juba Wednesay to attend a technical framework for the construction of South Sudan oil pipelines through the two countries.

The delegation is composed of the State Ministers and permanent secretaries from the two countries. Read the rest of this entry »

New East Africa cable live in April

(HornTrade) – Following the recent broadband cable cut that affected much of East Africa’s connectivity, the new Lower Indian Ocean Network (LION2) is set to go live and active on 14 April, 2012. Read the rest of this entry »

Stratex International reveals high gold grades in Djibouti

(HornTrade) – Stratex International (LON:STI) today unveiled what it describes as an impressive gold discovery in Djibouti, East Africa.

The first set of assays from a sampling programme at the Pandora vein on the Oklila licence revealed high gold grades, reaching up to 27.1 grams per tonne (g/t).

“Having just returned from the field in Djibouti, I must say that the Pandora structure is an impressive discovery,” said executive director David Hall.

Oklila is part of Stratex’ Afar portfolio which is being explored alongside Thani Ashanti – a venture between the one of the world’s largest gold miners AngloGold Ashanti and Dubai based Thani Investments. Read the rest of this entry »