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Reuters

GSK to invest in new factories and drug R&D in Africa

31st March 2014 Drugmaker GlaxoSmithKline (GSK) plans to invest up to £130-million ($216 million) in Africa over the next five years as chronic diseases become more common among the continent's swelling urban middle classes. The decision reflects the draw for the pharmaceutical industry of the region's rapid... 

Nigeria to fall from top African oil exporter spot in May

27th March 2014 Oil theft looks set to push Nigeria off its spot as top African crude oil exporter in May and exports could fall to their lowest since records began in 2009, data indicated on Wednesday. Nigerian exports in May are set to be at around 1.59-million barrels a day, excluding the Forcados and Ebok... 

SA's headline PPI quickens to 7.7% y/y in February

27th March 2014 South Africa's headline producer inflation quickened to 7.7% year-on-year in February from 7% in January, Statistics South Africa (Stats SA) said on Thursday. Economists polled by Reuters had predicted PPI would quicken slightly to 7.25%. 

Congo's mining tax increase plan rattles investors

26th March 2014 Democratic Republic of Congo aims to double tax revenues from minerals but investors warned that an overhaul of the mining code could remove incentives to invest there. Prime Minister Augustin Matata Ponyo told a mining conference in the eastern city of Goma that the government intends to... 

Anglo American restarts Chile Los Bronces mine after protest

25th March 2014 Anglo American is restarting operations at its Los Bronces copper mine in central Chile following a brief but violent protest by contract workers, a spokesperson told Reuters early Tuesday. "Shift workers are already going up to the mine to be able to restart operations," said Marcelo Esquivel,... 

SA deputy president to meet mining firms, unions as platinum strike drags on

24th March 2014 South Africa's deputy president will meet with the mining industry and unions on Thursday for a regularly scheduled forum aimed at bringing stability to the sector, as a crippling platinum strike approaches its ninth week. Deputy President Kgalema Motlanthe's spokesman Thabo Masebe said the... 

African Development Bank to lend Tunisia $2.1-billion

20th March 2014 The African Development Bank will lend the Tunisian government $2.1-billion in 2014 and 2015 to support the country's economy, the bank said in a statement. Tunisia is one of the three main clients of the bank and has already received $1-billion loans in 2011 and 2012. 

World Bank set to approve financing for Congo's Inga dam

17th March 2014 The World Bank is likely to approve $73-million next week to fund an expansion of the Inga hydroelectric dam in Democratic Republic of Congo, a bank official said on Friday. The decision will be a relief to investors, particularly mining companies which have been threatened with electricity... 

Copper prices below $5 000 could threaten Zambian mines - Minister

17th March 2014 Zambian mines are still operating profitably, despite the fall in copper prices, but could be threatened if the price dropped below $5 000/t, Mines Minister Christopher Yaluma said on Saturday. Copper markets had been edgy over slowing Chinese demand and fears that credit upheaval in the world's... 

Some 500 000 Numsa members to strike on Wednesday

17th March 2014 South Africa's biggest union has called a one-day strike for Wednesday to highlight youth unemployment in the country, where one in four people are jobless, the union said. The 340 000-member National Union of Metalworkers of South Africa (Numsa) drew its members from car manufacturing, the metal... 

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