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Guinea bauxite miner SMB resumes operations after riots

18th September 2017 Guinea bauxite mining company Societe Miniere de Boke (SMB) resumed operations Monday after riots interrupted deliveries at its three sites on Friday, General Manager Frederic Bouzigues told Reuters. SMB, owned by China's Winning Shipping and Shandong Weiqiao, along with UMS International and the... 

South Africa tax agency wants parliament to probe KPMG

18th September 2017 South Africa's revenue service will ask Parliament to investigate global auditor KPMG for its "immoral conduct" in releasing details of a confidential report it produced for the tax agency, commissioner Tom Moyane said on Monday. KPMG cleared out its South African leadership en masse on Friday... 

Tanzania charges officials with economic sabotage over seized diamonds

18th September 2017 Tanzanian prosecutors charged two government officials on Friday with economic sabotage after they were accused of undervaluing an export-bound consignment of diamonds seized from a mine majority owned by London-listed Petra Diamonds. Archard Kalugendo, director of the State-run diamond and... 

Electric London cabs spur reopening of UK aluminium plant

18th September 2017 Norwegian aluminium components producer Sapa is reopening a British plant to supply material for the country's first electric vehicle factory that will produce London black cabs. The move is a welcome one for Britain as it negotiates a divorce from the European Union that some fear will dampen... 

Albemarle asks Chile to raise lithium production limit

15th September 2017 Albemarle has asked Chile to increase the US miner's lithium production limit in the country, it said on Friday, amid high global prices for the mineral used in batteries as demand for electric vehicles surges. The company asked state development agency CORFO to raise its lithium production... 

KPMG South Africa shakes out top management over Gupta scandal

15th September 2017 Global auditor KPMG cleared out its South African leadership on Friday after damning findings from an internal investigation into work done for the Guptas, businessmen friends of President Jacob Zuma accused of improperly influencing government contracts. KPMG's investigation did not identify any... 

Gold miners seek safety as political risks rise

15th September 2017 Canadian miner Eldorado Gold's threat this week to freeze investments in Greece after years of frustrating and costly permit delays highlighted the risks the industry faces when it strays away from mining-friendly countries. After moving into higher-risk countries in recent years to mine new... 

Professionals at Codelco's Radomiro Tomic mine ink wage deal

14th September 2017 Chile's state-run copper company Codelco has signed a new collective contract with the professionals' union at its Radomiro Tomic mine, the company said on Thursday. The agreement, which will last 35 months, includes no salary adjustment, but does give workers a one-time bonus of 6.35-million... 

Treasury denies report it plans to sack head of $150bn State pension fund

14th September 2017 The National Treasury on Thursday denied a newspaper report that it was about to fire the head of the State-owned Public Investment Corporation and said the report was baseless. Citing unnamed sources, The Star said the chief executive of Africa's biggest pension fund, Dan Matjila, would be... 

Africa's richest man joins race for South African cement firm

14th September 2017 Africa's richest man Aliko Dangote has joined the race to buy South African cement maker PPC, which is already the subject of a takeover bid valuing the company at $700-million. Dangote Cement, which is controlled by Dangote and is the biggest cement maker in Africa with a capacity of nearly... 

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