Central Asia Metals Looks To Enter Africa In Search Of Copper Project
Base metals miner Central Asia Metals (CAML) is on the hunt for a new copper project in Southern Africa for up to $400 million in what would be its first foray into the continent, its chief executive said. The London-listed company, which has two mines in Kazakhstan and Macedonia, is prepared to spend $300 million-$400 […]
Britain To Add Nigeria’s Naira To List Of Accepted Trade Currencies
Britain’s export finance agency will add the naira to its list of “pre-approved currencies”, allowing it to provide financing for transactions with Nigerian businesses denominated in the local currency. The naira will become one of three West African currencies that UK Export Finance has pre-approved for its programme of funding transactions that promote trade with […]
Morocco’s GDP Growth To Slow To 2.8 Percent In 2018
Morocco’s economic growth will slow to 2.8 percent this year, down from 4 percent in 2017, officials forecast on Wednesday, blaming a decline in agricultural production. A lack of rainfall will cause farming output to fall by 1.3 percent this year after a 13.6 percent gain last year due to better weather conditions, officials told […]
Former LafargeHolcim CEO Charged With Syria Terrorism Funding
Former LafargeHolcim Ltd. Chief Executive Officer Eric Olsen was placed under formal investigation and charged with funding terrorist groups as part of a French probe into the cement maker’s operations in war-torn Syria. Olsen, who resigned from the company in April, was also charged late Thursday with putting someone else’s life in danger and placed under judicial supervision, said […]
South Africa Eyes BRICS Partners To Build New $10 Billion Refinery
South Africa wants the national oil companies of its BRICS partners to help build a new 400,000 barrel per day refinery that will be structured by senior debt and equity, energy minister David Mahlobo said on Tuesday. The idea of building a refinery in Africa’s most industrialised economy has been under consideration for almost […]
Mali Expects Industrial Gold Mining To Beat 2017 Forecasts
Industrial gold production in Mali, Africa’s third biggest producer, is on track to exceed earlier forecasts for this year, a government official said on Friday. Mali’s industrial miners produced 46.9 tonnes of gold last year, but the government said in May that production in 2017 would slip to about 45 tonnes as the country waited […]
South Africa’s Debt Costs Leap on Record 3.3 Billion-Rand Sale
South Africa’s embattled Treasury had no trouble selling a record amount of debt at its weekly fixed-rate auction Tuesday — but at a cost. Primary dealers placed orders for more than three times the amount of debt on sale, snapping up yields as much as 75 basis points higher than were available two months ago. The […]
Saudi Corruption Purge Snares $33 Billion of Net Worth in Riyadh
Crown Prince Mohammed bin Salman’s crackdown on some of Saudi Arabia’s richest and most powerful men has put $33 billion of personal wealth at risk. The stunning series of arrests has implicated three of the country’s richest people, including Prince Alwaleed bin Talal, who’s No. 50 on the Bloomberg Billionaires Index ranking of the world’s […]
Don’t Expect a Big Commodity Shakeup Next Year, World Bank Says
If you’re trading commodities next year: look for small upticks in oil and crops. But overall, raw-material prices may get stuck in a bit of a lull. That’s according to a report issued Thursday by analysts for the Washington-based World Bank. The bank forecasts an index of energy products to climb 4 percent in 2018, […]
Mad Scramble for Lithium Mines Stretches From Congo to Cornwall
For evidence of just how hot battery ingredient lithium is right now, look no further than Australia’s AVZ Minerals Ltd. A penny stock until a few months ago, the mining hopeful has surged about 1,500 percent this year. The proposition: recasting a remote, century-old tin mine in the Democratic Republic of Congo as a supplier […]
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