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Reuters

Foreign direct investment in South Africa down in Q3, portfolio flows up

14th December 2018 South Africa's foreign direct investment inflows fell by nearly R3-billion in the third quarter, the central bank said on Friday in its quarterly bulletin, as foreign firms sent less money to local subsidiaries. South Africa's direct investment liability fell to R27.9-billion from R31.6-billion,... 

US to counter China, Russia influence in Africa – Bolton

14th December 2018 The United States plans to counter the rapidly expanding Chinese and Russian economic and political influence in Africa, US national security adviser John Bolton said on Thursday, calling business practices of the two nations "corrupt" and "predatory." Washington's No 1. priority will be... 

Aspen says on track to dispose of baby milk business

14th December 2018 Aspen Pharmacare said on Thursday it expected the conditions for the sale of its infant formula business to be in place by the first quarter of 2019. The drugmaker's shares tumbled 35% within a week after it announced the sale of its infant formula business in September to French company Lactalis... 

Eskom debt swap not an option – Ramaphosa

14th December 2018 A debt swap for cash-strapped state power company Eskom would spiral the country into more debt, South Africa's President Cyril Ramaphosa said on Thursday, adding there was a need to look at other options to shore up the company's balance sheet. Eskom, which has had to implement power cuts due to... 

Cuba sees nickel output topping 50 000 t

13th December 2018 Cuba's nickel plus cobalt sulfide production will top 50 000 t this year and earnings are up over 2017, the head of the country’s state monopoly Cubaniquel was quoted by local media as stating on Wednesday. Nickel is one of the cash-strapped Communist-run country’s most important exports, but... 

Codelco says Chuquicamata mine operating normally despite protests

13th December 2018 Chile's Codelco said its sprawling Chuquicamata copper mine was operating normally after workers blocked access to the mine overnight Thursday. Unions at Chuquicamata, the state miner's second largest by output, have protested for months over plans to transform the century-old open pit into an... 

Nigeria files $1.1bn London lawsuit against Shell, Eni over oil deal

13th December 2018 Lawyers for the Nigerian government said they had filed a $1.1-billion lawsuit against Royal Dutch Shell and Eni in a commercial court in London on Thursday in relation to a 2011 oilfield deal. The OPL 245 oilfield is also at the heart of an ongoing corruption trial in Milan in which former and... 

Zimbabwe mining minister invites De Beers, Vast Resources to return

13th December 2018 De Beers and Vast Resources will be allowed to explore for diamonds in Zimbabwe, which would make them the first listed companies to mine there in that sector for two years, Mining Minister Winston Chitando said. A spokesman for De Beers, an Anglo American unit, said in an email it was not mining... 

MTN, Nigerian central bank dispute will be over 'very soon' – regulator

13th December 2018 The Nigerian telecoms regulator said on Thursday that an $8.1-billion dispute between South African telecoms group MTN and the Nigerian central bank "is being resolved and very soon it will be over." Nigeria's government "is disposed to (an) amicable resolution," Umar Garba Dambatta, executive... 

Gold Fields to restart South Deep production as workers return

13th December 2018 Workers will return to Gold Fields' sole South African mine on Thursday after a six-week strike was called off by the country's National Union of Mineworkers (NUM), with production likely to resume in earnest next year. Workers from the largest union operating at the South Deep mine downed tools... 

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