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Companies tender for share in Zambia's Maamba mine

19th March 2008 Thirty foreign and local companies have tendered for shares in Zambia's major coal supplier to its copper mines, a senior industry official said on Wednesday. Joseph Chikolwa, chief executive officer of ZCCM Investments Holdings, which wholly owns the Maamba Collieries Ltd mine, said... 

Mboweni warns on growth, inflation

19th March 2008 South Africa's economy will slow in 2008 although local banks are coping well and there is no cause for alarm, central bank Governor Tito Mboweni said on Wednesday. He also said a weaker rand currency would, over time, help to narrow the current account deficit - which stood at a hefty 7,5... 

PetroSA raises Coega forecast

18th March 2008 South Africa's state-owned PetroSA expects its Coega oil refinery project to run 250 000 barrels per day, up from a previous 200 000 bpd forecast, a senior official said on Tuesday. "Moving from 200 [000] to 250 000 (bpd) is really not costing you a lot, so this is now the base... 

Zambia plans to build new coal power station

18th March 2008 Zambia will construct a new coal-fired power station and scrap import duty for power-saving electric appliances in a bid to alleviate power shortages at copper mines, President Levy Mwanawasa said. Mwanawasa said in remarks on state television late on Monday that he had instructed his finance... 

Botswana inflation jumps on higher fuel costs

18th March 2008 Botswana's consumer price inflation jumped to 9 percent year-on-year in February from 8,4 percent in the previous month, largely due to strong fuel costs, official data showed on Tuesday. Soaring food and fuel prices have pushed up inflation in Botswana and neighbouring South Africa,... 

Eskom says force majeure possible

18th March 2008 South African power utility Eskom may have to inform mines in the world's biggest platinum producer of a force majeure if more of its generators trip, Eskom spokesman Andrew Etzinger told Reuters on Tuesday. "At the moment we are in a very tight situation. If we lose an additional two... 

WTO meeting possible by early May - EU farm chief

18th March 2008 Ministers from trade powers might meet in late April or early May to seek a breakthrough in long-delayed negotiations for a global trade deal, the European Union's farm chief said on Monday. European Agriculture Commissioner Mariann Fischer Boel told reporters that new compromise proposals... 

China wants 40% of oil, gas imports from Africa

17th March 2008 China wants up to 40 percent of its oil and gas imports to come from Africa in the next 5-10 years, a Chinese industry official said on Monday. 

SA current account deficit 'a chink in the armour' - Manuel

17th March 2008 South Africa's large current account deficit is a major chink in its armour given a low savings rate and current global financial market turmoil, Finance Minister Trevor Manuel said on Monday. South Africa's current account deficit swelled to 8,1 percent of GDP in the third quarter of... 

Investors shaken by bank troubles

17th March 2008 Stalked by the credit crisis and economic decline, investors enter this week with eyes firmly on the Federal Reserve and braced for more trouble in the shaky financial sector after Bear Stearns had to be bailed out. A raft of US broker banks will report first quarter earnings while the Fed is... 

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