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By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- Rio Tinto Limited announced on February 12th, 2021 it has given aptitude to its Guinean counterpart to assist resolve a controversy with local neighborhoods over resettlement for a bauxite mine. Moreover, Guinean burgher in towns around the mine cataloged a grievance in 2019 with International Finance Corporation – a multinational development institution associated to the World Bank, contending contraventions by miner Compagnie des Bauxites de Guinée SA (CBG) of its commitments around resettlement and pollution. Bauxite producer CBG is 51% held by consortium Halco Mining Inc and 49% acquired by the Guinean administration. Rio Tinto and Alcoa Corp each eye 45% of Halco, while Dadco Investments clenches the...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra, Ghana- The African Development Bank has extended financial support to a project that will strengthen the efforts of West African countries to meet their Nationally Determined Contributions (NDCs) targets under the Paris climate accord. The Bank will underwrite the preparation of concept notes exploring the use of internationally transferable mitigation outcomes (ITMOs) in selected West African countries. The project is financed through the African Climate Technology and Finance Center and Network (ACTFCN), a Bank-managed initiative that draws on funds from the GEF Trust Fund and the Special Climate Change Fund. The project is being implemented by a consortium led by Triple E Systems. “This intervention will put in place a robust...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- Dr. Brima Baluwa Koroma, the Executive Chairman of the Petroleum Regulatory Agency has announced that the Sierra Leone Oil Refinery at Kissy which had lingered for decades will start again operations in April 2021. The establishment according to the Executive Chairman has been rebuilt and is fix to begin again refining petroleum products in Sierra Leone. Dr. Koroma was summarizing some of the operational accomplishments and challenges of the Agency during a press briefing at the Ministry of Information and Communications in Freetown on February 04th, February 2021. He explained they will be introducing 60,000 metric tones quantity, of which 10,000 will be acquired by the administration of Sierra Leone to...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra, Ghana- The Nigerian Content Development and Monitoring Board (NCDMB), the Nigerian National Petroleum Corporation (NNPC) and DSV Engineering have signed the Final Investment Decision (FID) for the construction of 10,000 tonnes/day methanol production plant by the Brass Fertilizer and Petrochemical Company Ltd (BFPCL), committing equity investment of US$670 million. The facility would be the largest methanol plant in Africa and the first in Nigeria and the construction phase is expected to create 30,000 direct and indirect jobs and additional 5000 permanent jobs during the operations phase. According to the financing plan, the project is estimated to cost about $3.5 billion and aside the equity from NCDMB, NNPC and DSV, there is an...