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Kudu gas project might not be viable for Namibia – Energy Minister

14th August 2018 Namibia's long-delayed Kudu gas-to-power project, seen as key to boosting electricity security in the southwest African country, might not be viable, Mines and Energy Minister Tom Alweendo said on Monday. Namibia's offshore Kudu Gas Fields have proven and probable recoverable reserves estimated... 

China coal output hits lowest in years, but heatwave boosts power generation

14th August 2018 China's coal output fell 2% in July to its lowest in years as Beijing's crackdown on polluting industries crimped mining in the world's top consumer of the fuel, driving import demand as hot weather boosted thermal power generation. The country produced 281.5-million tonnes of coal in July, down... 

SARB 'nowhere near' intervention on rand – deputy governor

13th August 2018 The South African Reserve Bank was surprised by the magnitude of the rand weakness early on Monday but forex market conditions where "nowhere near" requiring the bank to intervene, deputy governor Daniel Mminele told Reuters. The rand slid more than 10% to a two-year low against the dollar in... 

India's Tata Steel Q1 profit more than doubles, lags forecasts

13th August 2018 Indian steelmaker Tata Steel said on Monday quarterly net profit more than doubled, but it was well below market expectations as a result of a one-off charge. Net profit was 19.34-billion rupees ($276-million), compared to a profit of 9.21-billion rupees a year earlier, Tata said. 

Seven die in Pakistan mine blast, six missing

13th August 2018 A mine explosion in Pakistan's southwestern city of Quetta killed at least seven coal miners, a mining official said on Monday, with authorities expecting the death toll could rise. The bodies of the dead were recovered on Monday morning, with efforts being made to retrieve six more men trapped... 

Petronas acquires 30% equity in Senegal oil, gas block

13th August 2018 Malaysian oil and gas company Petroliam Nasional (Petronas) said on Monday it has acquired a 30% stake in Senegal's Rufisque Offshore Profond block, its first project in the West African nation. Oil major Total will maintain operatorship of the block with a 60% ownership, Petronas said in a... 

Kenya charges top officials with fraud over new $3bn railway

13th August 2018 A Kenyan court on Monday charged the heads of the agency that manages public land and of the state railway with fraud over land allocation for a new $3-billion train line linking the capital with East Africa's biggest port. The line between Nairobi and Mombasa, funded by China, is one of the... 

Algeria's State oil firm gets new management, targets brain drain

13th August 2018 The head of Algerian State oil firm Sonatrach has assembled a new leadership team, a senior company source said, aiming to reverse a flow of talent from an unwieldy state enterprise that keeps the country afloat. President Abdelaziz Bouteflika put US-trained Abdelmoumen Ould Kaddour in charge of... 

Rand hits 2-year low, bonds stumble as Turkey contagion spreads

13th August 2018 South Africa's rand plunged to a 2-year low against the dollar in early trade on Monday and government bonds weakened sharply as massive falls in the Turkish lira spread to other emerging market currencies. The rand slid earlier in the day more than 10% to hit a session low of 15.7000 per dollar,... 

Israel seeks early re-tender of mining rights to shore up Dead Sea

13th August 2018 The Dead Sea is shrinking at the rate of about a meter a year, leaving behind deserted beaches and sinkholes in a slow-motion environmental disaster. The main culprit is the drying up of the Jordan river, its main tributary, as communities upstream draw on it for farming and drinking. But... 

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