By Maxwell Akalaare Adombila CONAKRY (Reuters) -Guinea is seeking to keep global prices for premium iron ore high, senior officials said, as output from its giant Simandou project, expected to peak at some 120 million metric tons a year, heads to the market this month. That may put it at odds with the mine’s main …
Guinea aims for global high-grade iron ore leverage with Simandou launch Read More »
JOHANNESBURG (Reuters) -The South African rand strengthened on Wednesday after the finance minister announced a lower inflation target, a change investors had speculated would come soon and which has fuelled a rally in local assets this year. At 1325 GMT the rand traded at 17.0650 against the dollar, up 0.5% on Tuesday’s closing level. South …
South African rand and dollar bonds gain as inflation target lowered Read More »
By Maxwell Akalaare Adombila CONAKRY (Reuters) -Guinea plans to launch its first sovereign wealth fund by the second quarter of 2026 with an initial $1 billion, its planning minister said, as the West African nation moves to leverage a flood of revenues from its giant Simandou iron ore mine. The fund will channel resource income, …
Guinea aims to launch Simandou-backed wealth fund in second quarter of 2026 Read More »
DAKAR (Reuters) -Senegal’s president and the political party he belongs to have issued conflicting statements over the leadership of the ruling coalition, a clear sign of dissension among top leaders amid drawn-out talks with the International Monetary Fund. The West African country is trying to negotiate a new lending programme after the IMF froze a …
Senegal president and ruling party clash over leadership post Read More »
By Maxwell Akalaare Adombila CONAKRY (Reuters) -Guinea will fast-track the development of alumina refineries and iron ore pellet plants to end decades of raw ore exports, its mines minister told reporters, as the country prepares for the first shipments from its huge Simandou iron ore mine this week. In-country alumina and iron ore processing could …
Guinea to fast-track alumina, iron ore processing, mines minister says Read More »
(Reuters) -South Africa’s largest mobile operator Vodacom Group has signed an agreement with Elon Musk’s Starlink to deliver high-speed, low-latency broadband internet for businesses across Africa, the telecom firm said on Wednesday. Despite Vodacom’s footprint of over 223 million customers, rural Africa remains a tough frontier. Sparse populations, difficult terrain, and low smartphone penetration make …
Vodacom inks Africa internet deal with Musk’s Starlink Read More »
By Yousef Saba DUBAI (Reuters) -UAE-based Dana Gas said on Wednesday it had signed a preliminary deal with Syria’s state oil company to assess redeveloping natural gas fields crippled in the 13-year civil war that made Syria reliant on imports from Iran. Syrian rebels ousted longtime President Bashar al-Assad late last year and the country …
UAE’s Dana Gas signs pact to explore reviving Syria gas fields Read More »
By Noel Randewich (Reuters) -The Dow Jones Industrial Average surged to a record high close on Tuesday, lifted by progress toward ending the longest U.S. government shutdown, while Nvidia and other artificial intelligence-related companies fell on renewed concerns about elevated valuations. Fueling gains in the Dow and S&P 500 index, members of the U.S. House …
Dow notches record high close, traders bet on end to government shutdown Read More »
By Nicole Jao NEW YORK (Reuters) -Oil prices gained about $1 on Tuesday on the impact of the latest U.S. sanctions on Russian oil and the optimism over a potential end to the U.S. government shutdown, although oversupply concerns limited gains. Brent crude futures settled $1.10, or 1.72%, higher to $65.16 a barrel. U.S. West Texas …
Oil up as investors balance sanctions risks, oversupply worries Read More »
JOHANNESBURG (Reuters) -One of South Africa’s top retail banks, First National Bank (FNB), launched a new cross-border payment platform with Mastercard on Tuesday that aims to make remittances and international transfers easier and cheaper. The Globba platform would help customers looking to send money to other African countries like Zimbabwe, Malawi, Mozambique and Ghana, and …
