By Felix Njini and Nelson Banya JOHANNESBURG (Reuters) -Gold Fields Ltd has agreed to acquire Osisko Mining for C$2.16 billion ($1.57 billion), it said on Monday, barely two years after an attempt to buy another Canadian miner was scuppered by a rival offer. The Johannesburg-based gold producer will pay C$4.90 per share, a 55% premium …
Gold Fields to buy Canadian miner Osisko in $1.57 billion cash deal Read More »
By Isaac Anyaogu LAGOS (Reuters) – Nigerian refineries including the Dangote Refinery have raised their domestic crude requirements for the second half of 2024 to 597,700 barrels per day from 483,000 bpd in the first half, the national oil regulator said, despite tight domestic supply. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) was only able …
Nigeria’s Dangote Refinery, others seek 597,700 bpd of oil amid tight supply Read More »
(Reuters) – Sasol Ltd will report a full-year loss after writing down 55.1 billion rand ($3 billion) in the carrying value of its chemicals and fuel assets, mainly because of weaker prices, the company said on Monday. The petrochemicals company said it will report a basic loss per share of between 68.82 rand and 71.48 …
By Tim Cocks PRETORIA (Reuters) – South Africa’s plan to expand its power grid, now the biggest bottleneck to replacing coal with renewables, has hit a snag: finding investors to lend the necessary $21 billion to a near-bankrupt state monopoly. Since May’s election brought a coalition government to power, there has been a policy shift …
South Africa battles to fund vital grid upgrade for green energy Read More »
(This Aug 8 story has been corrected to say first commercial refinery in which the state holds a stake, not first commercial refinery, in the headline and paragraph 1) By Maxwell Akalaare Adombila ACCRA, Ghana (Reuters) – Ghana opened its first commercial gold refinery in which the state holds shares on Thursday as part of …
Ghana opens new gold refinery with 20% government stake Read More »
By Isaac Anyaogu LAGOS (Reuters) – The Dangote Oil Refinery has called on Nigeria’s upstream oil regulator to force producers to abide by a law that stipulates they supply local refineries, saying that lax enforcement was raising its operational costs. The 650,000-barrel-per-day capacity refinery, built by Africa’s richest man Aliko Dangote on the outskirts of …
Dangote Refinery says Nigeria must enforce crude supply for local refiners Read More »
By Sinéad Carew and Chibuike Oguh NEW YORK (Reuters) -The closely watched global equities index advanced on Friday, ending a volatile week unchanged after starting it with a massive sell-off, while the dollar slipped slightly and oil prices ended higher on supply concerns over the Middle East conflict. A trio of Federal Reserve policymakers had …
Stocks extend gains after sell-off amid positive data, Fed’s rate signals Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices settled higher on Friday and notched over 3.5% in weekly gains as positive economic data and signals from Fed policymakers that they could cut interest rates as early as September eased demand concerns, while fears of a widening Middle East conflict continue to raise supply risks. Brent crude …
Oil posts 3% weekly gains on positive economic data, rate cut hopes Read More »
By Hannah Lang NEW YORK (Reuters) -The dollar was off a one-week high against other major currencies on Friday, capping off a turbulent few days as traders digested a drop in U.S. jobless claims and the prospect of a looming economic downturn. The U.S. currency was down against the Japanese yen following a three-day rebound, …
Dollar dips as yen heads for first weekly drop in six Read More »
By Dawit Endeshaw ADDIS ABABA (Reuters) – Ethiopia has signed an agreement for the design of a new four-runway airport that will be Africa’s biggest when construction is completed in 2029, the head of state-owned Ethiopian Airlines said on Friday. Located near the town of Bishoftu, around 45 km (28 miles) from the capital Addis …
Ethiopian Airlines signs deal for design of ‘biggest airport in Africa’ Read More »
