R/€ = 16.28 Change: -0.18
R/$ = 14.41 Change: -0.23
Au 1238.73 $/oz Change: -7.16
Pt 787.30 $/oz Change: -16.59


South Africa's manufacturing output jumps, boosting rand

11th December 2018 South Africa's manufacturing output rose more than expected in October to its highest level since June 2016, data showed on Tuesday, lifting the rand as the economy showed further signs of recovering from recession. Africa's most industrialised economy slipped into recession after contractions in... 

Côte d'Ivoire aims to double gold output by 2025

10th December 2018 Côte d'Ivoire plans to double gold production by 2025, its vice president said on Monday, as the west African country strives to revive its long-neglected mining sector. Côte d'Ivoire, the world's top cocoa producer, is seeking to diversify revenues by increasing gold output from 25 t last year... 

MTN says still in talks with Nigerian authorities

10th December 2018 South African telecoms firm MTN Group was still in talks with Nigerian authorities over an $8.1-billion dispute and a $2-billion tax demand in a bid to reach an agreement, Africa's biggest mobile operator said on Monday. The dispute is over the transfer of $8.1-billion of funds which Nigeria's... 

Gecamines increases stake in Boss Mining joint venture to 49%

10th December 2018 The Democratic Republic of Congo's State mining company Gecamines said on Monday it would increase its stake in its Boss Mining joint venture with ENRC Africa Holdings to 49% after the two companies renegotiated terms. The state miner is moving to increase its take from joint ventures with... 

South Africa needs to bail out Eskom, says former Eskom adviser Rothschild

10th December 2018 The South African government needs to "bite the bullet" and bail out struggling state-run power firm Eskom, which has asked for R100-billion ($7-billion) in government support, the chief executive of Rothschild & Co in South Africa told Reuters. Rothschild advised Eskom in 2008 when it last... 

Egypt's Carbon Holdings secures $1.25bn to build petrochemicals complex

10th December 2018 Egypt's Carbon Holdings has secured $1.25-billion in financing to build a giant petrochemicals complex in the Red Sea port of Ain Sokhna. The Tahrir Petrochemicals Complex, a $10.9-billion project, would be the largest in the Middle East and is expected to create 48 000 jobs. 

Egypt aims to kickstart African trade as it takes AU chair

10th December 2018 Egypt is promoting itself as a linchpin for intra-African trade and a model of economic reform as it prepares to chair the African Union in 2019. The country hosted a high-level business forum on Saturday and Sunday in the Red Sea resort of Sharm el-Sheikh that will be followed by an... 

GFG Alliance to build 10mt/y steel plant in South Australia

10th December 2018 GFG Alliance said on Monday it would build a 10-million tonne-per-year (tpy) steel plant in the state of South Australia that would likely be funded in part by government subsidies. The new mill, relying on infrastructure from a bankrupt plant in the town of Whyalla, will focus on the production... 

Tesla lithium supplier Kidman settles ownership row over Australian mine

10th December 2018 Kidman Resources, a supplier of lithium to US electric car maker Tesla said on Monday it had settled a court dispute that could have derailed joint development of a mine in Western Australian with Chile's SQM. In a statement announcing the settlement, Kidman did not specify terms. Court... 

South Africa axes state nuclear firm Necsa's board

7th December 2018 South African Energy Minister Jeff Radebe said on Friday that the government had replaced the entire board of directors of State-run nuclear firm Necsa and suspended its chief executive over problems with how it was governed. The previous Necsa board included prominent backers of plans to expand... 


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