Africa Business News
Tue, 08 Jul 2008 16:56ZAMBIA
Equinox Minerals says production at its Lumwana copper mines will likely be delayed past its expected July start. That's after a fire damaged part of the processing plant at the project. Equinox says the fire damaged a power transformer and substation at the facility, adding that it anticipates a delay to project-completion and handover as a result of this incident. Lumwana is expected to become Africa's largest open pit copper mine.
G8
Leaders at the G8 summit say they are committed to achieving their aid target for Africa, which was pledged at their Gleneagles summit in 2005. At that summit, G8 nations vowed to raise annual aid levels by $50 billion by 2010, $25 billion of which was for Africa. But NGOs have expressed concern about the pledge, saying donor countries might fail to meet their promises. African development, as well as the food crisis and climate change, is high on the agenda for the three-day G8 summit that ends tomorrow in Hokkaido, northern Japan.
MOZAMBIQUE
The Mozambican government says it wants to adopt a plan for use of natural gas in road transport, i in order to reduce increasingly expensive oil imports. According to the South African country's environmental ministry, Mozambique has natural gas reserves of around 3.6 billion cubic feet.
