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Reuters

Glencore says settled Congo mining dispute

15th June 2018 Miner and commodities trader Glencore has settled its Congo mining dispute with two companies associated with Israeli billionaire Dan Gertler by agreeing to pay royalties in a currency other than US dollars, Glencore said on Friday. US sanctions on Gertler, Glencore's former Israeli partner in... 

WTO deputy chief advises EU caution in response to US tariffs

14th June 2018 There is no basis in World Trade Organisation rules for US tariffs on steel and aluminium, but the European Union should proceed cautiously when responding to the measures, WTO deputy director-general, Karl Brauner, told a German magazine. "I see no basis in WTO law for the tariffs imposed by the... 

Italy top court rejects appeal to stymie Shell, Eni corruption trial

14th June 2018 Italy's Supreme Court threw out an appeal from Shell and four former Shell managers to stymie a trial on alleged corruption in Nigeria, which also sees Eni's chief on the bench, legal sources said on Wednesday. The long-running graft case revolves around the 2011 purchase by Eni and Shell of... 

Egypt appoints new minister of defence in new Cabinet – State television

14th June 2018 Egypt has appointed a new minister of defence in a cabinet sworn in on Thursday by President Abdel Fattah al-Sisi to mark the start of his second term in office. Mohamed Ahmed Zaki Mohamed was named minister of defence, replacing Sedki Sobhi. 

Wage protests threaten South African power supply

14th June 2018 About 1 000 union members picketed Eskom's headquarters on Thursday in a wage dispute that threatens the cash-strapped South African utility's ability to deliver power. There have been no reports of outages in Africa's most industrialised economy, but Eskom said that some plants had cut output,... 

Gecamines plans to renegotiate with foreign partners

14th June 2018 Democratic Republic of Congo State miner Gecamines has called on its foreign partners to renegotiate the terms of joint ventures it considers to be unfair, its chairman said on Thursday. Heavily in debt and with dwindling output, Gecamines has long complained about its joint venture terms. It... 

Food producer Libstar bets on yoghurt to boost market share

14th June 2018 South Africa's Libstar Holdings is launching a new range of yoghurt in a bid to gain market share from French group Danone and local leader Clover Industries in the country's competitive dairy sector. The new yoghurt ranges and shakes, traded by Libstar unit Lancewood will be launched by July, CE... 

Labour unions picket Eskom office in wage dispute

14th June 2018 Hundreds of union members picketed outside the headquarters of Eskom on Thursday because of a wage dispute which has hurt the cash-strapped South African power utility's ability to deliver electricity to Africa's most industrialised economy. Labour unions, angered by Eskom's failure to raise... 

Germany's Heraeus to open $100m precious metals recycling plant in China

14th June 2018 German technology group Heraeus will open a precious metals refinery and recycling plant in China in September to take advantage of the country's rising demand for platinum group metals. Heraeus has invested almost $100-million in the facility in Nanjing covering 84 000 square metres, which will... 

Petra Diamonds shareholders back rights issue

13th June 2018 Shareholders in mining company Petra Diamonds on Wednesday approved a rights issue to raise about $170-million to help cut its debt burden, driving the share price around 5% higher. The company, which has suffered setbacks in Tanzania as well as production delays and strikes, had said there was a... 

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