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Reuters

Peugeot's Tavares and Anglo American's Cutifani to join Total board

16th March 2017 French oil and gas company Total plans to appoint Mark Cutifani, CE of mining group Anglo American, and Carlos Tavares, chairperson of French carmaker Peugeot, as independent directors. Cutifani will bring his knowledge of industry and the raw materials sector to the board, while Total will also... 

Rand hits near 19-month high as Fed signals gradual tightening

16th March 2017 South Africa's rand hovered near a 19-month high against the dollar early on Thursday after the US Federal Reserve raised interest rates on Wednesday, but signalled a gradual pace of rate hikes for the rest of the year. At 0646 GMT, the rand traded at 12.8125 per dollar, flat from its New York... 

Vale to get $733m by month-end from Moatize stake sale to Mitsui

16th March 2017 Brazilian mining company Vale said on Wednesday it is nearing conclusion of a deal to sell a stake in Mozambique's Moatize coal project to Japan's Mitsui & Co. Vale said it expects to receive by the end of this month an initial payment of $733-million from Mitsui from the equity sale. The... 

Q1 business confidence rises but remains in negative terrain

15th March 2017 South Africa's business confidence rose slightly in the first quarter but remained in negative territory, a survey showed on Wednesday, an outcome that could jeopardise efforts to boost economic growth. The Rand Merchant Bank (RMB) business confidence index compiled by the Bureau for Economic... 

Gem Diamonds' FY pretax profit nearly halves on Botswana mine impact

15th March 2017 Gem Diamonds reported on Wednesday a 47% fall in its full-year pretax profit, hurt by an impairment charge after it mothballed the Ghaghoo mine in Botswana due to a fall in diamond prices. The company recorded an impairment provision of $176.5-million after its move last month to place the... 

South Africa's Engen to ship gasoil to Singapore in rare move – sources

15th March 2017 South African petroleum company Engen is set to export a gasoil cargo to Singapore, according to trade sources and shipping data. The company has provisionally booked the Torm Horizon to transport 35 000 t of gasoil to Singapore from Durban, shipping fixtures showed. 

Ethiopia declares three day-national mourning after fatal landslide

15th March 2017 Ethiopia has declared three days of national mourning for victims of a landslide at a rubbish landfill site in the capital Addis Ababa. Flags flew at half mast on Wednesday as the government announced that the death toll from the disaster that occurred at the 50-year-old Reppi dump on Saturday... 

Egypt replaces heads of state oil and gas companies

15th March 2017 Egyptian Oil Minister Tarek al-Molla has replaced the heads of state oil company EGPC and state gas company EGAS, the Ministry of Petroleum said in a statement on Tuesday. Abed Ezz el-Regal will replace Tarek al-Hadidi, appointed in April 2016, as head of EGPC while Osama Al Bakly will take over... 

Philippine lawmakers postpone vote on embattled resources minister

15th March 2017 Philippine lawmakers on Tuesday deferred a decision to confirm or reject an ardent environmentalist as the country's resources minister, stoking uncertainty over the outlook for mining in the world's top nickel ore supplier. Regina Lopez last month ordered the closure of more than half the... 

Escondida copper mine in Chile says to restart operations

15th March 2017 The Escondida copper mine in Chile plans to restart operations after striking workers again rejected an invitation by controlling owner BHP Billiton to return to negotiations, an executive told reporters late Tuesday. The world's largest copper mine will first resume work in two areas of the... 

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