Having previously announced in 2010 that it had discovered commercially viable deposits of 2.5 billion barrels of oil in the country, Uganda has now confirmed the further discovery of an additional one billion barrels.

Through a combination of new discoveries and the ability to extract greater volumes of oil from existing wells the country’s deposits now total at least 3.5 billion barrels. To date a total of 70 out of 77 wells drilled have been confirmed as containing oil and gas.

A relatively small company is playing a big part in facilitating trade in a country with a troubled past that is gradually getting back on its feet.

‘With God on our side’ is not the official slogan of Freight Mark Services—but it could be. It certainly underlines the guiding principles of how the business operates, as explained by Mandela Katsande, the logistics manager of this Zimbabwean company. “We are a Christian-based business,” he says, “and we conduct ourselves with complete transparency and strong ethics.”

Gold Fields aims to be the global leader in sustainable gold mining. That does not mean staying in business for ever; but rather leaving behind a viable economy, a clean environment and a thriving community.

One of Turkey’s most important home-grown mining companies is weathering the decline in demand for chromium ore and continuing to supply its customers year-round.

Fortescue Metals Group has seen its share price rise by up to 17 percent after the Australian miner confirmed it had secured a $4.5 billion credit facility to pay down debts and boost liquidity. What this means is that the company has effectively extended its repayment deadline for its to debts to November 2015.

Oil prices have experienced significant gains, an event that is being credited in part to the moves taken by the US Federal Reserve last week, in which it announced it would inject $40 billion a month into the US economy. These movements also coincide with the forthcoming release of a forecast that is due to show the economy strengthening.

European pharmacy chain Alliance Boots has signed a strategic deal with China’s Nanjing Pharmaceutical Company, it has been announced.

Under the terms of the deal, Alliance Boots will acquire a 12 per cent stake in Nanjing Pharmaceutical for approximately £56 million (RMB560 million). On completion of the transaction, Alliance Boots will be the second largest shareholder in Nanjing Pharmaceutical with board and operational management representation. Nanjing Pharmaceutical Group Limited will continue to be the largest shareholder in the Chinese company.

Owens Corning announced today that its new furnace in its Tlaxcala, Mexico, glass reinforcements facility is operational. This is another step in the company’s plans to increase its global capacity to produce composite material.

Owens Corning is a leading global producer of glass fiber reinforcements for composite systems and residential and commercial building materials.

Temporary power generation and temperature control services provider Aggreko has officially opened its new service centre in Walvis Bay, Namibia.

The new facility was formally inaugurated by Honorable Willem Isaak, Deputy Minister of Mines of Namibia and Martin Foster, head of local business, Aggreko Southern and East Africa. Cleophas Mutjavikua, the governor of the Erongo region, was also in attendance. 

The facility is Aggreko's sixth service centre in Southern and East Africa and is the first operation to be based in Namibia.