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U.S. Backs Ivory Coast Project to Produce Power From Cocoa Waste

U.S. Backs Ivory Coast Project to Produce Power From Cocoa Waste

Ivory Coast plans to produce the world’s first energy from cocoa shells by 2020 after the largest producer of the chocolate ingredient clinched U.S. backing to assess the project. The U.S. Trade and Development Agency will fund a feasibility study for a plant producing as much as 70 megawatts from cocoa waste, officials from the […]

South African Fuel Prices To Rise By More Than 1.5 pct In July

South African Fuel Prices To Rise By More Than 1.5 pct In July

The retail price of petrol in South Africa will rise by more than 1.5 percent from July 4, while the price of wholesale diesel will rise by 1.8 percent, the energy department said on Sunday. The price of petrol will rise by 26 cents to 16.02 rand per litre in the commercial hub of Gauteng […]

Egypt May Have Issued Last LNG Tender, Paving Way for Exports

Egypt May Have Issued Last LNG Tender, Paving Way for Exports

  Egypt may have just issued its last LNG tender, setting the stage to resume exports next year. Imports of liquefied natural gas may stop in the fourth quarter, allowing for exports to start early next year as Eni SpA’s Zohr and other gas fields boost production in the country and help to draw more […]

Why South Africa Is Ripping Up Its Mining Rules Again

Why South Africa Is Ripping Up Its Mining Rules Again

South Africa’s mining industry is a prime example of the nation’s stark imbalances. Its highly paid, mainly white male executives oversee hundreds of thousands of mostly black workers laboring in deep and dangerous operations. To spread the nation’s wealth more equally, the government revised its mining charter in 2017 to require that companies give more […]

South Africa’s Grid Under Pressure As Electricity Workers Protest

South Africa’s Grid Under Pressure As Electricity Workers Protest

South Africa’s power grid was under pressure on Friday, with controlled blackouts possible, due to workers protesting over pay, a test of new President Cyril Ramaphosa’s efforts put the state electricity provider back on a stable financial footing. A spokesman for Eskom, which produces more than 90 percent of South Africa’s power, said the grid […]

China’s Tsingshan Mulls $1 billion Steel Plant in Zimbabwe

China’s Tsingshan Mulls $1 billion Steel Plant in Zimbabwe

China’s unlisted Tsingshan Holding Group on Monday signed a $1 billion outline agreement with Zimbabwe to build a steelmaking plant there after completing a feasibility study. President Emmerson Mnangagwa’s government is trying to woo foreign investors, especially in mining, as part of efforts to revive an economy that suffered in the later years of Robert […]

Congo Mining Code Regulations Signed Into Law – Aides

Congo Mining Code Regulations Signed Into Law – Aides

Regulations to implement Congo’s new mining code have been signed into law with no changes, advisers to the prime minister told Reuters on Saturday, despite objections from mining firms that have been threatening legal action. Prime Minister Bruno Tshibala signed the regulations into law overnight, his adviser Patrick Mutombo Buzangu told Reuters by telephone, but […]

South African Rand Slumps To Near 6-Month Low, Bonds Weaken

South African Rand Slumps To Near 6-Month Low, Bonds Weaken

South Africa’s rand slumped more than 2 percent to a near six-month low against the dollar and government bonds weakened sharply on Friday, dragged down by weak economic growth and global investors shying away from riskier assets. At 0844 GMT, the rand traded at 13.2400 per dollar, 1.7 percent weaker than its close on Thursday, […]

Ethiopia Opens Up Telecoms, Airline To Private, Foreign Investors

Ethiopia Opens Up Telecoms, Airline To Private, Foreign Investors

Ethiopia said on Tuesday it would open its state-run telecoms monopoly and state-owned Ethiopian Airlines to private domestic and foreign investment, a major policy shift that will loosen the state’s grip on the economy. The East African nation of 100 million people has one of the most closed and controlled economies in Africa. The ruling […]

Why African Cocoa Growers Are Having an OPEC Moment

Why African Cocoa Growers Are Having an OPEC Moment

The world’s top cocoa producers have long been at the mercy of traders who set cocoa prices thousands of miles away in London and New York. Now the producers are trying to do something about it. West African neighbors Ivory Coast and Ghana, which grow about 60 percent of the world’s cocoa, have outlined wide-ranging […]

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