Aminex Share Discussion Threads

[warbaby43] 10/1/2016 07:44

However, perhaps not quite dead yet it would seem. Looks like too many noses and Swiss bank accounts were being put out of joint both in Dar and Peking:

[edgar222] 10/1/2016 07:09

Tanzania suspends construction of $10 billion Bagamoyo port

10 January 2016, Dar es Salaam – The construction of the $10 billion Bagamoyo port, which would be the largest port in East Africa, has been suspended.

Tanzania wants to focus, instead, on improving the capacity, performance and efficiency of the Dar es Salaam and Mtwara ports.

The Minister for Works, Transport and Communications, Prof Makame Mbarawa, said the government will upgrade berths 1 to 7 and construct two additional ones, 13 and 14, at the Dar port as well as develop the Mtwara one.

“I do not want to reveal too much details or plans by the government on the fate of this project [Bagamoyo]. What I can say is only that we are currently concentrating on the Dar es Salaam and Mtwara ports,” he told The Citizen.

However funding constraints for the two ports are standing in the way of the revamp efforts.

“We are looking for funds for the port of Dar es Salaam and then for the Mtwara Port,” he said.

The World Bank has agreed to fund the facelift of berths 1 to 7 and talks are ongoing to also finance the construction of berths 13 and 14, Prof Mbarawa said without revealing the cost of the projects.

The government hopes to start the refurbishment this year and complete by 2018.

“It all depends with the financial resources. If we get the funding soon the projects will run,” he said.

The initial works for the Bagamoyo port had already started after former President Jakaya Kikwete broke ground last October with some residents relocated to other areas to pave way for the construction.

Prof Mbarawa said the decision to suspend the building of the port was because the multibillion-shilling project was too big; it needed more attention, a lot of planning and a major source of funding.

Bagamoyo port was also put in the queue by the need to take advantage of huge inflows of foreign direct investments in the natural gas-rich regions of Lindi and Mtwara, the government said.

Politically sensitive

The port has so far become a politically sensitive issue. Opposition politicians and the private sector have poured scorn on the project arguing it was a waste of resources and urged for improving the existing Tanga, Dar and Mtwara ports instead and the connecting infrastructure.

President John Magufuli was forced to defend the project during last year’s election campaigns against attacks from the opposition presidential candidate Edward Lowassa who had criticised it. Mr Lowassa while campaigning in Tanga had said if elected president he would shelve the project and put resources on improving the Tanga port.

“As far as I am aware, the Bagamoyo port would benefit all Tanzanians and not Bagamoyo residents alone. We should stop sowing the seeds of divisions for the sake of votes,” Dr Magufuli said at a campaign stop.

Opposition politicians have also been complaining that the construction of such a huge project was done without consulting Parliament.

The Bagamoyo project will occupy 800 hectares and another 1,700 hectares of Portside Industrial Zone, which will be developed under tripartite agreement of Government of Tanzania (GoT), China Merchants Holdings International (CMHI) from China and State Government Reserve Fund (SGRF) from Oman.

The new port will have the capacity to handle 20 million containers a year when completed, compared with Mombasa’s 600,000 and Dar es Salaam’s 500,000 containers.

The first phase was to be completed in 2017. The initial funding of the project was expected to come from China though negotiations for funding the entire project were said to be going on.

An agreement for the initial development of the Bagamoyo Port Project was signed in March 2013 during the visit of the Chinese President Xi Jinping as part of the Tsh1.28 trillion infrastructure package deals. The agreement specified that $500 million would be designated for port financing for the year of 2013 to allow the project to start.






hXXp://sweetcrudereports.com/2016/01/10/tanzania-suspends-construction-of-10-billion-bagamoyo-port/?utm_source=dlvr.it&utm_medium=twitter

[warbaby43] 09/1/2016 16:51

Thanks for your guidance, blackgold. I am, however, something of an old technophobe and have always struggled with Google Maps, this time included. I will however, take your word for the presence of the road though whether it can or would be used might be another question. As I recall too the topography has been described as hilly farming country so any movement of heavy equipment is always going to be challenging.

[blackgold00] 08/1/2016 13:11

just in case of confusion, the N-2 well in May's presentation on slide 12, has now become the N-3 well. as I understand it.

from last IMS Ruvuma drilling program

"The primary objective for Ntorya-2 will be to test the same net 20-metre sand interval which is believed to be above the gas down to water contact at the proposed location. The estimated prospective resource for the appraisal well is 118 BCF Pmean gas in-place (management estimate) with a 60% chance of success. Following the Ntorya 1 recompletion and the Ntorya 2 well, the Ntorya-3 will be drilled in the main Cretaceous channel fairway. The Company is currently in the final phases of a tendering process to choose a drilling contractor and will update shareholders once that has been announced"

from half yearly

"Following completion of the LR Senergy report, Aminex has identified a target close to the existing Ntorya-1 discovery which was assessed as a potential side-track well to the Ntorya-1 well. After review with Norwell, the location will now be drilled as a vertical well from a different surface location so as to reduce drilling risk. Ntorya-2, located just west and up-dip of Ntorya-1"
"The newly-designated Ntorya-3 well will be drilled in the main channel"

[blackgold00] 08/1/2016 11:11

enter the town of ( Kituo Cha Afya Nanguruwe, Nanguruwe, Mtwara, Tanzania ) into google and then go on maps, and that should get you there, then zoom out, the N-1 site is just north slightly east abut 4 km from that town.

[warbaby43] 08/1/2016 10:42

It Sino stank

[warbaby43] 08/1/2016 10:29

Not a great time to be moving heavy equipment around a region with no roads so any drilling likely to be well beyond the "towards the end of Q1"

"Tanzania has two major rainfall regimes: one is uni-modal (October–April) and the other is bi-modal (October–December and March–May).[46] The former is experienced in southern, central, and western parts of the country, and the latter is found in the north from Lake Victoria extending east to the coast." Wiki

[warbaby43] 08/1/2016 10:14

Would just now be a good time to announce anything almost regardless of how positive?

[blackgold00] 08/1/2016 09:29

just the formal signing, "whose approval is required prior to formal signing"

"Ndovu has reached agreement with the Tanzanian Petroleum Development Corporation on all terms of the GSA, including acceptable payment protection mechanisms for all gas delivered. The agreement has now been forwarded to the Tanzanian Attorney General's office, whose approval is required prior to formal signing of the much-anticipated agreement".

mind you we are waiting on other approvals from the Tanzanian authorities regarding the Boleven deal. and I wonder whether the % sale of KNDL is also being agreed at the same time or along with the GSA.

"The Bowleven Agreement will have an effective date of 1 January 2016. Both the sale of an interest in the KNDL and the farm-out transaction for interests in the Ruvuma PSA are subject to approval from the Tanzanian authorities"

[greyingsurfer] 08/1/2016 09:23

Wot! Still no GSA...

Assuming Ritson is right, and the AG has signed it, what has to happen to it after that before it's finally complete. Anyone know?

Peter

[niceyman1] 08/1/2016 09:14

Lost in the post?

[ngms27] 08/1/2016 09:11

Wot! Still no GSA...

[gerryjames] 08/1/2016 07:55

You could invest in a Tanzanian property bubble, their "reports" are hilarious. "Household debt is projected to grow in the next six months on account of government initiative to encourage mortgage lending"

Lol.

[ngms27] 07/1/2016 13:17

His company has two employees, his wife was employee of the year last year ;)

[skinwalker] 07/1/2016 10:38

I would imagine that whichever company Bun works for doesn't have many employees.
One maybe?

[skinwalker] 07/1/2016 10:00

He was joking Gerry :-)

[skinwalker] 07/1/2016 09:39

Is it Corbyn's fault that everything is red I wonder? All that red flag waving and singing?
Morning Gerry

[bunbooster2] 07/1/2016 09:33

I am an investor in GKP. I am not joking.

On the plus side, I won employee of the year for 2015. I am not joking.

[gerryjames] 07/1/2016 08:33

Why's EVERYTHING red, everywhere? Anyone old enough to know. GKP hit 12.5p, fortunes lost on that over the years.

[bunbooster2] 07/1/2016 08:12

Warbaby - how old are you?