Africa's new scramble for oil is heading east, where the potential could be huge but the risks are far higher than in the well-established sector on the continent's west coast.
Italian oil group Eni said on Thursday it had made a giant natural gas discovery off Mozambique, the biggest in its history, confirming expectations that East Africa is set to emerge as a major gas exporter after recent finds.
The U.S. economy needs its mojo back -- not just consumer confidence but a greater willingness to compete for business -- in the eyes of General Electric Co Chief Executive Jeff Immelt.
U.S. explorer Anadarko Petroleum Corp has raised its estimate of the amount of natural gas it has discovered offshore Mozambique by two thirds, lifting hopes that East Africa could become a major gas exporter.
The African regional trade bloc Common Market for Eastern and Southern Africa (COMESA) is considering issuing a regional infrastructure bond and is seeking advisers, a senior trade official said on Tuesday.
Gold miner Mwana Africa's Zimbabwe mine output has risen to a monthly average of 4,500 ounces, outstripping its targeted annual production rate, company executives said on Friday.
College graduates in debt-stricken Portugal have been migrating in large numbers to its former colonies such as Brazil, Angola, and Mozambique to find work
Portugal is mired in staggering debt, high unemployment and drastic budget cuts to social services
The big worry for Red Hot Chili Peppers fans leading into I'm With You, their 10th album, was whether new guitarist Josh Klinghoffer could possibly measure up to the legacy of departed axeman John Frusciante, who'd been with the Chili Peppers for most of their career and all their most popular recordings.
Higher input costs and a strong rand led to a 63 percent drop in ArcelorMittal South Africa's first-half profit and the steelmaker forecast a difficult third quarter on Wednesday, sending its shares to a 28-month low.
The killing of rhinoceroses has reached epidemic levels in South Africa, which is home to about 90 percent of the global rhino population.
The first lady is in South Africa with her daughters.
Some prominent American universities and pension funds, among other wealthy foreign investors, are allegedly purchasing huge tracts of land in Africa -- acts that may lead to the eviction of thousands of local farmers, according to a study by the Oakland Institute (Oakland Institute), a California-based think tank.
Rio Tinto is close to securing a majority of Riversdale Mining , after receiving acceptances ahead of its target level, just before a key deadline on its A$3.9 billion ($4 billion) bid.
The president of Uganda, Yoweri Museveni, has written a lengthy a column in The New Vision newspaper of Uganda in which he condemned the western alliance’s military strikes on Libya. He also proposes a resolution to the Libyan crisis through the auspices of the African Union.
Global miner Rio Tinto raised its offer for Africa-focused coal miner Riversdale Mining to $3.9 billion on Thursday in a final bid to woo key shareholders, a move that Riversdale said was helping to sway institutions.
Global miner Rio Tinto raised its offer for Mozambique-focused coal miner Riversdale Mining to $3.9 billion in a final bid to woo key shareholders who have held up the deal and gain control of coveted coal assets.
Global miner Rio Tinto raised its offer for Mozambique-focused coal miner Riversdale Mining to $3.9 billion to woo key shareholders who have held up the deal and gain control of coveted metallurgical coal assets.
A new World Bank strategy for Africa unveiled on Wednesday focuses on creating jobs and making economies more competitive, while also tackling problems of climate change, disease, food shortages and conflict.
Mozambique's Nacala Development Corridor (CDN) plans to invest $200 million to upgrade its port at Nacala and raise capacity to 16 million tonnes of cargo in 2030 from 1.5 million tonnes, a CDN official said on Wednesday.
Tata Steel, the world's No. 7 steelmaker, has raised its stake in Riversdale Mining to more than 27 percent, making it harder for miner Rio Tinto to seal its $3.9 billion bid for the Mozambique-focused coal miner.
Mozambique will solicit bids for oil and gas exploration from international firms within the next two years, a senior government official said on Friday.
