By Scott DiSavino NEW YORK (Reuters) – Oil prices slid on Thursday, settling about 2% lower as concerns over possible softening of U.S. demand and broad oversupply offset threats to output from the conflict in the Middle East and the war in Ukraine. Brent crude futures fell $1.12, or 1.7%, to settle at $66.37 a barrel. …
Oil prices slide 2% on worries about global oversupply, US demand Read More »
MOSCOW (Reuters) -Kazakh mining giant Eurasian Resources Group (ERG) said on Thursday it had signed a settlement with the Democratic Republic of Congo’s state-owned miner Gecamines in a dispute over the Swanmines copper and cobalt mining project. The dispute had led to the development of some copper and cobalt deposits in Congo being suspended. The …
ERG settles with Gecamines over DRC Swanmines project Read More »
JOHANNESBURG (Reuters) – The South African rand strengthened on Thursday after the U.S. saw higher-than-expected consumer inflation data but a surge in first-time applications for unemployment aid kept the Federal Reserve on track to cut interest rates next Wednesday. At 1609 GMT, the rand traded at 17.3750 against the dollar, roughly up 0.6% on Wednesday’s …
South African rand pares early losses after hot US CPI data Read More »
By Arunima Kumar (Reuters) – Barrick Mining said on Wednesday it will sell its last producing Canadian gold mine, Hemlo, to Carcetti Capital for up to $1.09 billion. Hemlo has produced more than 21 million ounces of gold and was once one of Canada’s most important mining camps. Its sale ends Barrick’s long history of …
Barrick exits Canadian gold mining with over $1 billion Hemlo sale Read More »
JOHANNESBURG (Reuters) -South Africa’s online retail turnover is expected to top 130 billion rand ($7.42 billion) this year and account for 10% of total retail sales, driven by on-demand grocery and fashion, as well as the entry of global competitors such as Amazon, a study shows. Online retail sales grew by around 35% in 2024 …
South Africa’s online retail sales to exceed $7.42 billion this year, study forecasts Read More »
WINDHOEK (Reuters) -Namibia is set to increase its sulphuric acid production in response to rising critical mineral output, with Green Metals Refining and Vedanta announcing plans on Thursday to set up and revive plants, respectively. Sulphuric acid is widely used in the extraction processes for metals including uranium, copper, manganese and rare earths used in …
Namibia to boost sulphuric acid production as critical mineral output rises Read More »
(This Sept 10 story has been corrected to clarify that other investors besides Vision Invest took part in ARISE IIP’s capital raise, in the headline and paragraph 1) DUBAI (Reuters) – Saudi Arabia’s Vision Invest took part in a $700 million capital raise by pan-African industrial zone developer ARISE Integrated Industrial Platforms, ARISE IIP said …
Saudi Arabia’s Vision Invest enters Africa with ARISE IIP investment Read More »
JOHANNESBURG (Reuters) -South Africa’s current account deficit widened to 1.1% of gross domestic product (GDP) in the second quarter of 2025, from a revised 0.6% deficit in the first quarter, central bank data showed on Thursday. In rand terms the current account deficit rose to 82.8 billion rand ($4.72 billion), from a revised 47.8 billion …
South Africa’s current account deficit widens to 1.1% of GDP in second quarter Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) – South African bank FirstRand Ltd reported a 10% rise in annual earnings on Thursday, enabling it to absorb the impact of a further 2.7 billion rand ($154 million) pre-tax accounting provision linked to a UK motor finance claim. Last month, Britain’s Financial Conduct Authority (FCA) proposed a redress scheme …
FirstRand’s annual earnings rise 10% after further UK provision Read More »
JOHANNESBURG (Reuters) – South African health insurer Discovery Ltd reported a 30% increase in full-year profit on Thursday, as it achieved strong growth across its operations. Its normalised headline earnings, a profit measure, rose to 9.8 billion rand ($559.75 million) in the year ended June 30, up from 7.5 billion rand recorded a year earlier. …
South African insurer Discovery reports 30% rise in annual profit Read More »
