Reuters Africa Business

Ivory Coast miners start paying higher royalties after failed resistance, sources say

16 Dec 2025

By Maxwell Akalaare Adombila ACCRA, Dec 16 (Reuters) – Gold mining companies in Ivory Coast have begun paying a new 8% royalty on revenue, backdated to January, after months of disputing the legality of the levy, three industry sources told Reuters. Reuters previously reported that the world’s top cocoa producer, which is seeking to diversify …

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Ghana bans mining in forest reserves to curb environmental damage

16 Dec 2025

(Corrects typographical error in paragraph 8 in story filed on December 11) ACCRA, Dec 11 (Reuters) – Ghana has banned mining in forest reserves as part of sweeping environmental protections aimed at safeguarding water bodies and halting deforestation, the Ministry of Environment, Science and Technology said. Africa’s top gold producer is battling a surge in …

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South32 to mothball Mozambique smelter in March as power talks collapse

16 Dec 2025

Dec 16 (Reuters) – Australia’s South32 said on Tuesday it will place the Mozal aluminium smelter in Mozambique under care and maintenance by March, incurring a $60 million one-off cost, after failing to secure a power deal with the government. Negotiations between the Perth-based firm and Mozambique’s government and power suppliers have been going on …

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South Africa boosts coal exports to Israel after Colombia ban

16 Dec 2025

By Sudarshan Varadhan, Wendell Roelf and Steven Scheer SINGAPORE/CAPE TOWN/JERUSALEM, Dec 16 (Reuters) – South African miners are boosting thermal coal exports to Israel after top supplier Colombia in August ordered a total ban on shipments of the power-generation fuel to Israel, data from Kpler, LSEG and DBX Commodities showed. Colombia and South Africa are …

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Uganda plans to borrow $608 million to develop infrastructure

16 Dec 2025

KAMPALA, Dec 16 (Reuters) – Uganda plans to borrow $608 million from lenders such as the Korea Export-Import Bank and South Africa’s Rand Merchant Bank (RMB) to finance infrastructure development, a parliament document showed on Tuesday. The east African country’s ballooning public debt has triggered concern among opposition politicians, analysts and the central bank, which …

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Dollar edges lower against yen in week packed with data releases and central bank decisions

15 Dec 2025

(Adds missing word “long” in quote in paragraph 18) By Chibuike Oguh and Amanda Cooper NEW YORK/LONDON, Dec 15 (Reuters) – The U.S. dollar edged lower against rivals including the yen and Swiss franc on Monday in a week packed with central bank decisions and U.S. data that could shed light on the Federal Reserve’s …

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Kenya’s cabinet approves creation of infrastructure, sovereign wealth funds

15 Dec 2025

NAIROBI, Dec 15 (Reuters) – Kenya’s cabinet has approved the creation of an infrastructure fund and a sovereign wealth fund to finance projects such as roads and power plants and ease pressure on public borrowing, it said on Monday. President William Ruto said in October the infrastructure fund would invest in key sectors without increasing …

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Fortuna Mining eyes mid-tier gold assets as it works to regain output target

15 Dec 2025

(Repeats to add pictures code) By Maxwell Akalaare Adombila DAKAR, Dec 15 (Reuters) – Fortuna Mining is seeking mid-tier gold assets, while accelerating new projects, as it works to restore its 500,000-ounce annual output target after selling mines in Burkina Faso and Mexico, its West Africa operations chief told Reuters. The Canadian miner sold its …

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South African rand strengthens as gold shines and investors eye year’s final economic data

15 Dec 2025

JOHANNESBURG, Dec 15 (Reuters) – The South African rand strengthened on Monday, supported by higher gold prices as local investors look towards the year’s last pieces of economic data for clues on the health of Africa’s most industrialised economy. At 1412 GMT the rand traded at 16.78 against the dollar, about 0.6% stronger than its …

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Nigeria’s inflation rate eases further in November

15 Dec 2025

ABUJA, Dec 15 (Reuters) – Nigeria’s headline inflation rate eased for the eighth consecutive month in November, helped by slowing food inflation, official data showed on Monday. Consumer inflation stood at 14.45% year on year last month, down from 16.05% in October. This year’s inflation slowdown follows years of surging prices that triggered a cost-of-living …

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