CAPE TOWN (Reuters) – Congo’s state mining company Gecamines plans to explore for minerals needed for the transition to a lower carbon economy, including lithium, tin, and rare earths, chairman Alphonse Kaputo Kalubi said on Tuesday. Gecamines, which ranked among the world’s top copper and cobalt producers in the 1980s, also aims to boost production …
Congo’s Gecamines seeks to diversify into ‘transition’ minerals Read More »
NAIROBI (Reuters) – Kenya’s finance ministry has tweaked its spending and budget deficit estimates for the current fiscal year that ends in June to show a slight increase in overall expenditure but a narrower deficit. Supplementary budget documents submitted to parliament showed overall spending was projected at 3.37 trillion shillings ($26.98 billion), from the 3.36 …
Kenya tweaks 2022/23 spending, deficit estimates in supplementary budget Read More »
By Promit Mukherjee JOHANNESBURG (Reuters) – South Africa’s biggest gold miner Harmony Gold is exploring options, including hydrogen and natural gas, to cut its dependence on state utility Eskom, its CEO said on Monday. Miners in South Africa are under pressure to find alternatives from investors anxious to meet goals on reducing carbon emissions and …
S.African gold miner Harmony looks to green hydrogen, LNG for power Read More »
By Clara Denina and Helen Reid CAPE TOWN (Reuters) – Anglo American’s CEO on Monday called for a public-private partnership to improve performance at South Africa’s state-owned rail and port firm Transnet, whose failure to meet demand has hampered miners’ ability to export their products. “From our perspective, one of the best outcomes might be …
Anglo American CEO urges public-private fix to Transnet crisis Read More »
ABUJA (Reuters) – Three states in Nigeria have asked the country’s highest court to stop the federal government and central bank from ending the use of old naira currency notes this week, saying this was causing hardships, ahead of an election later this month. The Central Bank of Nigeria (CBN) gave a 10-day extension until …
Nigerian states challenge central bank cash swap deadline Read More »
JOHANNESBURG (Reuters) – South Africa’s net foreign reserves rose to $54.844 billion in January from $53.827 billion in December, the Reserve Bank said on Tuesday. Gross reserves also increased to $61.864 billion in January from $60.570 billion in December. The forward position, which represents the central bank’s unsettled or swap transactions, rose to $0.555 billion …
South Africa’s net foreign reserves rise to $54.844 billion in January Read More »
(Reuters) – South African petrochemical group Sasol said on Tuesday it expects its half-year profit to double, driven by strong oil prices and despite operational challenges in its domestic unit. Sasol expects its headline earnings per share (HEPS)- the main profit measure in South Africa – to be between 29.84 rand and 31.36 rand ($1.69-$1.78) …
S. Africa’s Sasol expects HY profit to double on higher oil price Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened on Monday, as the U.S. dollar jumped on expectations that the U.S. Federal Reserve might pursue its inflation-fighting interest rate hikes for longer. At 1550 GMT, the rand traded at 17.6975 against the dollar, 1.24% weaker than its previous close. The dollar was last up 0.55% at 103.700 against …
South African rand weakens as U.S. dollar extends gains Read More »
By Christian Akorlie ACCRA (Reuters) -Ghana’s finance minister told a group of protesting retiree bondholders on Monday they were being a offered a good deal, as the government of the struggling West African nation pushes to get a domestic debt exchange over the line by Tuesday. Ghana launched a debt swap plan in December as …
Ghana debt swap deal ‘good for you’, finance minister tells retirees Read More »
By Promit Mukherjee and Wendell Roelf JOHANNESBURG (Reuters) – South Africa’s no. 2 coal miner Thungela Resources expects strong coal demand from emerging markets for at least two decades and believes it can attract funding for as long as returns are attractive, its CEO said on Monday. Climate capaigners are opposed to the continued use …
S.Africa’s Thungela says emerging markets will want coal for decades Read More »
