Reuters Africa Business

Glencore plans job cuts at South African ferrochrome and vanadium operations

1 Sep 2025

By Nqobile Dludla JOHANNESBURG (Reuters) -Glencore said on Monday that a retrenchment process has been initiated at its joint-venture Rustenburg ferrochrome smelter and vanadium operations in South Africa as significant economic pressures continue to impact the businesses. South Africa holds approximately 80% of the world’s known chrome ore reserves, according to Glencore, positioning the country …

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Oil settles higher on weaker dollar and Russian supply disruptions

1 Sep 2025

By Shariq Khan NEW YORK (Reuters) -Global benchmark Brent crude oil settled 1% higher on Monday, as concerns mounted that intensifying airstrikes in Russia and Ukraine could lead to supply disruptions, and as a weaker dollar lent additional support. Brent crude futures settled up 67 cents, or 1%, at $68.15 a barrel. The U.S. benchmark, …

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ArcelorMittal South Africa job cuts could rise above 4,000, union says

1 Sep 2025

(Reuters) -ArcelorMittal South Africa (AMSA) is planning to lay off 4,000 workers, nearly half its workforce and more than initially expected, with cuts now set to extend to its main Vanderbijlpark plants, a union said on Monday. The steelmaker previously announced plans to shut its long steel plants at Newcastle and Vereeniging this month, cutting …

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Nigeria signs deepwater oil contract with TotalEnergies

1 Sep 2025

By Camillus Eboh ABUJA (Reuters) -Nigeria has signed a production-sharing contract (PSC) with TotalEnergies and local firm South Atlantic Petroleum for two offshore blocks, in a step to boost exploration and attract investment under its new oil framework. Nigeria, Africa’s largest oil producer, is seeking to revitalize its upstream sector amid global energy transition pressures …

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Europe stocks steady, bonds struggle ahead of crucial US data this week

1 Sep 2025

By Alun John and Wayne Cole LONDON/SYDNEY (Reuters) -A holiday on Wall Street left shares around the world free to go their own ways on Monday, with Chinese tech names surging and Europe steady, while European long-dated bonds remained under heavy pressure. Europe’s broad STOXX 600 was last up 0.1% as initial positivity on improved …

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Angola plans first output at Cabinda oil refinery by year-end

1 Sep 2025

LUANDA (Reuters) -Angola’s planned 30,000-barrel-per-day Cabinda oil refinery, the first to be built since independence a half-century ago, will begin producing fuel by year-end, the Southern African country’s oil and gas minister said on Monday. The project, which will be Angola’s second oil refinery, will help make sub-Saharan Africa’s No.2 crude producer less dependent on …

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South African rand gains after manufacturing PMI and car sales figures

1 Sep 2025

JOHANNESBURG (Reuters) -The South African rand firmed against a weaker dollar on Monday, after the release of mixed local data. At 1251 GMT the rand traded at 17.59 against the dollar, about 0.3% up from Friday’s close. South African manufacturing sentiment deteriorated in August after a short-lived improvement in July, as activity remained subdued and …

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Benin’s ruling parties pick finance minister Wadagni as presidential candidate

1 Sep 2025

COTONOU (Reuters) -Benin’s ruling coalition has nominated Finance Minister Romuald Wadagni to contest the 2026 presidential election, positioning a man seen as a key architect of its economic policies to pursue the administration’s current reform agenda if elected. President Patrice Talon has confirmed he will step down after two terms, a rare move in the …

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Sudan shuts down Heglig oil facilities after drone attacks

1 Sep 2025

(Reuters) -Sudan has initiated a shutdown of the Heglig oil facility following drone attacks it blamed on the paramilitary Rapid Support Forces, according to a letter sent by its government to its South Sudanese neighbour and seen by Reuters. Heglig, which lies along Sudan’s southern border, houses the main processing facility for South Sudanese oil, …

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