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Reuters

Norway budget throws carbon capture plant plans into doubt

10th November 2017 The Norwegian government's plan to slash funding for its carbon capture and storage (CCS) technology unit Gassnova has thrown the plans for building Europe's first industrial CCS plant into turmoil, Gassnova and industry executives said. Through Gassnova, Norway initiated a project in which... 

Rand falls further on free education reports

10th November 2017 South Africa's rand currency extended losses on Friday, reacting to news reports that President Jacob Zuma is preparing to introduce free tertiary education, which would put added pressure on public finances. At 1150 GMT the rand was 0.9 percent weaker against the dollar at 14.3750, after earlier... 

Miner Vedanta continues its recovery with robust first-half profits

10th November 2017 Diversified miner Vedanta Resources said it sees further upside for zinc prices as it announced a 37.4% rise in half-year profit on Friday. A rebound in metals prices has prompted the miner to expand production of zinc and aluminium, enabling it to continue its recovery after being particularly... 

NUM says coal strike to begin on November 19

10th November 2017 South Africa's National Union of Mineworkers will begin a strike over wages in the coal sector on November 19, the union's spokesman said on Friday. A protracted strike in the coal sector could affect power supply in Africa's most industrialised economy, as about 85% of electricity is generated... 

South Africa mulls welfare cuts to fund free higher education – report

10th November 2017 South Africa's government is considering a range of budget cuts that could include slashing social grants for the most vulnerable in order to pay for free tertiary education, a newspaper reported on Friday. South Africa's rand weakened on Thursday after comments by President Jacob Zuma raised... 

Uranium miner Cameco not planning more output cuts 'right now' – CEO

10th November 2017 Canada's Cameco is not planning further cuts to uranium output "right now," but has the option of lowering production again without jeopardizing supply contracts, its chief executive said on Thursday. Cameco will suspend production for ten months at McArthur River, Saskatchewan - the world's... 

Grupo Mexico raises nearly $1bn in rail unit IPO – sources

10th November 2017 Mexican miner and infrastructure company Grupo Mexico on Thursday priced an initial public offering of its rail unit at 31.50 pesos per share, two sources said, raising around 19-billion pesos ($998-million). GMexico Transportes priced at the bottom of a 31.50 pesos to 39 pesos per share range,... 

South Africa working to preserve fiscal discipline after IMF visit – Treasury

9th November 2017 South Africa has been working hard in recent days to finalise measures to preserve fiscal discipline and debt sustainability, as well as to support growth, the National Treasury said on Thursday after an IMF visit to South Africa. Treasury added in a statement that the IMF's comments on the visit... 

Rand weaker on rumour Zuma to announce free education

9th November 2017 South Africa's rand weakened on Thursday on speculation that President Jacob Zuma was preparing to announce a controversial plan for free tertiary education. At 1419 GMT, the rand was down 0.78% against the dollar at 14.2650, after earlier trading more than 1% weaker on the day. 

Alrosa says total diamond sales up to $337.6m in Oct

9th November 2017 Total diamond sales of Russian state-controlled diamond producer Alrosa was at $337.6-million in October, the company said in a statement on Thursday, up from $309.7-million in September. Polished diamond sales amounted to $10.9-million last month. 

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