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Reuters

Q2 current account deficit widens to 2.4% of GDP

14th September 2017 South Africa's current account deficit widened to 2.4% of GDP in the second quarter, despite an improved trade surplus, as a larger shortfall on the services, income and current transfer payments weighed, the central bank said on Thursday. The overall first quarter deficit was 2% and economists... 

China's environmental crackdown hits August metals output

14th September 2017 China's non-ferrous metal output fell to a one-year low in August, in a sign that Beijing's environmental crackdown is curbing supplies of base metals, with aluminium also hit by efforts to rein in output. Production of 10 nonferrous metals - including copper, aluminium, lead, zinc and nickel -... 

Indonesia's Antam plans to apply for further 1.25Mt of nickel ore exports -Corp Sec

14th September 2017 Indonesia's Aneka Tambang (Antam) plans to apply for an additional quota to export 1.25-million tonnes of nickel ore, on top of the 2.7-million tonnes already allocated to the state-owned miner, a company official said. "Now we are still completing documentation of the verification by an... 

Guinean forces kill 1, wound several in bauxite mining town riot

14th September 2017 At least one person was killed and several wounded when Guinean security forces opened fire to break up a riot in the bauxite mining hub of Boke, witnesses said on Wednesday. Boke has suffered waves of rioting rooted in a perceived failure of mining to raise living standards, despite 15-million... 

Aspen Pharmacare posts 46% profit jump

14th September 2017 South Africa's Aspen Pharmacare reported a 46% rise in full-year profit, buoyed by a revenue boost from an anaesthetics portfolio acquired from AstraZeneca and GlaxoSmithKline, the company said on Thursday. The drugmaker posted headline earnings per share of 1 299.5c for the year to end-June, up... 

Canada presses Greece on 'troublesome' Eldorado Gold delays – Minister

13th September 2017 Canada's Trade Minister flagged "troublesome" permit delays for Eldorado Gold in a letter to the Greek Minister of Mines and Energy earlier this year, Francois-Philippe Champagne told Reuters on Wednesday. After meeting with the company at the Toronto mining conference in March, Champagne wrote... 

South Africa misses tax revenue forecast in Q1 – Gigaba

13th September 2017 South Africa's revenue service collected R13.1-billion ($999-million) less tax than forecast in the first quarter of the financial year, Finance Minister Malusi Gigaba told lawmakers on Wednesday. "We are currently assessing the implications of this for the fiscal framework," Gigaba said. The... 

Zimbabwe Alloys hands over half of its mining claims to Mugabe govt

13th September 2017 Zimbabwe Alloys, the country's second largest ferrochrome producer, has ceded half of its mining claims to the government, a State-owned newspaper said on Wednesday, ending more than a year of negotiations. President Robert Mugabe's government last June threatened to seize half of ZimAlloys 39... 

Greece says to grant permits for Eldorado Gold's Olympias project this week

13th September 2017 Greece will grant Canada's Eldorado Gold outstanding permits for its Olympias project this week, its Energy Minister George Stathakis said on Wednesday. Dozens of Eldorado Gold workers rallied outside the energy ministry in Athens on Wednesday to protest against potential job losses after the... 

Pressure on South Africa's central bank a key credit risk – Moody's

13th September 2017 Moody's on Wednesday warned that the gradual erosion of South Africa's institutional framework and recent pressure on the central bank to change its price and inflation targeting mandate were key risks to the country's credit rating. Zuzana Brixiova, a senior analyst for the ratings agency, also... 

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