Archive for August, 2011

MDM Engineering is awarded feasibility study for project in Tanzania

Monday, August 22nd, 2011

MDM Engineering Group Limited, the British Virgin Islands-incorporated company focused on mineral process engineering and project management, announced that it has been awarded the feasibility study for a 2.4 million tonnes per annum CIL gold plant, for the Tanzanian project of African Barrick Gold (ABG). ABG is the largest gold producer in Tanzania with a portfolio of four operating mines, it is also the operator and manager of Bulyanhulu Gold Mine, which is wholly owned by 100% subsidiary of ABG, Bulyanhulu Gold Mine Limited.

A concentrator plant has been in operation at Bulyanhulu since commissioning in 2001. During 2010, ABG completed study to determine the technical and economic viability of reclaiming and processing the stored tailings for recovery of gold. ABG now wishes to undertake a feasibility study for a new CIL facility to process tailings reclaimed from the historical tailings at a rate of 1 mtpa. MDM executive director George Bennett said that “MDM is thrilled to be working on the Bulyanhulu gold project in Tanzania. MDM will be able to bring the experience of the team’s 35 gold plants designed and built across Africa, including 2 x 650k tpm tailings plants built in the last 3 years. We look forward to a long working relationship with African Barrick Gold.”

BVI offshore law firm among top specialist firms in India

Thursday, August 4th, 2011

In a survey of foreign law firms in India published in June 2011 in the India Business Law Journal, the British Virgin Islands-incorporated offshore law firm Harneys Corporate Services Limited has been listed as one of the top 10 specialist firms in the country.

Actually, Harneys does not have office in India, but the company’s Indian desk in London provides full range of services to clients from India and other countries – among them setting up of investment funds in the British Virgin Islands and Cayman Islands, advising banks and financial institutions on lending arrangements, and creating trusts and other wealth management structures.

According to the article in one of the leading legal journals in India, “India’s complex tax code has sparked a boom in the creation of special purpose vehicles (SPVs), giving offshore law firms in Bermuda, the British Virgin Islands and the Cayman Islands a lucrative pipeline of deals.”