Two Philippine firms have won the lease for the container terminal at the Port of Dar es Salaam. They will pay an annual fee of $3.4 million and a royalty of $1 for each six-meter container. The terminal can handle 100,000 containers a year and it is hoped to increase this to 200,000 over the next ten years -African Decisions.
Alliance Air which began in 1995 ceased operations on October 10 following major differences between the partners and continuing losses. A group of businessmen were considering whether to continue it. -Dar es Salaam Financial Times.
Barrick Gold Corporation has increased its estimate of gold reserves at its Bulyanhulu project in northwest Tanzania by 40% to 10.5 million ounces. Production will start in mid-200l.