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Reuters

Petropavlovsk's biggest shareholder outlines his case for change

21st June 2018 Russian miner Petropavlovsk's largest shareholder, who is calling for an overhaul of the board, has written to fellow shareholders, setting out plans to sell the company's stake in an iron ore unit and to draw up deal targets in the gold sector. The company holds its annual general meeting in... 

Current account deficit widens in Q1 as exports slump

21st June 2018 South Africa's current account deficit widened more than expected in the first quarter to register its largest shortfall in two years as the trade balance swung to a deficit after a steep decline in exports, the central bank said on Thursday. Investor sentiment in South Africa picked up after... 

More than 20 Philippine mines pass govt review, 4 fail -official

21st June 2018 Twenty-three of 27 Philippine mines assessed by a government panel for compliance with state regulations, including environmental laws, have passed the review, an official said on Thursday. Confirming an earlier Reuters report, the Mining Industry Coordinating Council found that four mines did... 

Sumitomo buys 5% stake in Newmont-Buenaventura gold mine

21st June 2018 Japanese trading house Sumitomo Corp on Thursday said it had agreed to buy a 5% stake in the Yanacocha gold mine in Peru for $48-million, as it looks to boost its assets in the metals sector. Yanacocha, which has been in production since 1993, was Peru's largest gold mine until output began... 

For OPEC, oil tariff spat is short-term gain, long-term pain

21st June 2018 Opec, which has lost Chinese market share to US oil producers, should in theory view a tariff spat between Beijing and Washington as a boon. But while Opec can sell more oil to China as a result of import tariffs on US crude, in the long term the trade dispute could hit economic growth and oil... 

Zambia urges South African firms to invest in public projects

21st June 2018 Zambia's finance minister urged South African firms to invest in roads and power plants in Africa's No.2 copper producer after it suspended borrowing indefinitely, slowing down the accumulation of new debt amid worries about the risk of distress. The International Monetary Fund rejected Zambia's... 

Avocado 'green gold' ripe and ready for South Africa's farmers

21st June 2018 Whether you like to squash it onto your toast in the morning, millennial-style, eat it to cut your cholesterol with healthy unsaturated oil, or moisturise your face with it - if you live in the West, you're probably rarely far from an avocado. And that is very good news for South Africa's... 

Basil Read applies for suspension of listing

20th June 2018 South African construction firm Basil Read Holdings said on Wednesday it had applied to the Johannesburg Stock Exchange for the voluntary suspension of the listing of its shares after a key unit started business rescue proceedings. The cash-strapped company announced on Friday that Basil Read... 

EU to impose duties on US imports Friday after Trump tariffs

20th June 2018 The European Union will begin charging import duties of 25% on a range of US products on Friday, in response to US tariffs imposed on EU steel and aluminium early this month, the European Commission said on Wednesday. The move confirms a tit-for-tat dispute that could escalate into a full trade... 

Stop exploiting Africa, share resources, Pope tells Europe

20th June 2018 Europe should stop exploiting Africa and invest in ways that benefit the continent more, including by sharing mineral wealth more equitably, Pope Francis said. "We must invest in Africa, but invest in an orderly way and create employment, not go there to exploit it," he told Reuters in a... 

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