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Draft land-expropriation Bill released for comment

21st December 2018 South Africa released for public comment a draft Expropriation Bill that outlines the circumstances under which the state can take land without paying for it. It may be just and equitable for no compensation to be paid where land is expropriated in the public interest, the government said in... 

Copper clashes at world's largest pit signal trouble ahead

21st December 2018 The world’s biggest copper maker is pushing to modernise one of its oldest mines. With the plans spurring a quickening series of worker protests and disruptions, it’s becoming clear that technical challenges won’t be the only hurdle. Codelco is in the last stages of a $5.5-billion project to... 

Indian billionaire's Australian mine plans face further delay

21st December 2018 Gautam Adani’s long quest to build a coal mine in the Australian outback faces another setback, with the Queensland state government refusing to sign off on the company’s plans before further studies into the project’s environmental impact are complete. “Two plans are yet to be approved before... 

Australia flags A$122bn rebound for commodities projects

21st December 2018 Stronger prices, a brighter longer-term demand outlook and the rise of battery metals are laying the ground for a potential revival in mining and energy projects in Australia, according to the world’s top exporter of iron ore, alumina and coking coal. The value of so-called committed projects –... 

Australia warns of 'double whammy' risks to commodities outlook

21st December 2018 Commodities are at risk from a “double whammy” of rising trade tensions and a substantial slowdown in global growth, the Australian government warned, as increasing uncertainty threatens to hinder record exports from the raw materials powerhouse. While Australia’s resources and energy shipments... 

Eskom may reinstate power cuts post mid-January

20th December 2018 State-owned power utility may need to reinstate rolling power cuts after factories and businesses reopen following the summer holiday period, said Eskom Holdings CEO Phakamani Hadebe. The company is making progress in reducing unplanned outages and maintenance, he said in an interview on... 

Trump poised to lift Rusal sanctions as Deripaska cuts stake

20th December 2018 The Trump administration is ready to remove sanctions on Russian billionaire Oleg Deripaska’s aluminum company, United Co. Rusal, after reaching an agreement to significantly reduce his ownership stake. Deripaska will remain under US sanctions and his property will remain blocked, but Treasury... 

IMF boss Lagarde urges South Africa to shield key institutions

20th December 2018 South Africa should “never be complacent” about protecting key institutions such as the central bank or National Treasury as it tries to boost economic growth, International Monetary Fund Managing Director Christine Lagarde said. The rise of populism in developed economies has brought with it a... 

2019 prospects for the rand

20th December 2018 The rand’s implied volatility against the dollar tells you one thing about the currency in 2019: it’s going to be a wild ride. It’s just not clear which way. The cost of hedging in the options market against price swings in the South African currency over the next year has climbed almost 500... 

Alcoa cuts more aluminum output in Quebec as labour dispute bites

19th December 2018 Alcoa will further curtail production at a Canadian smelter as the biggest US aluminum producer faces a shortage of workers amid a dispute with unionised workers and the impact of US tariffs on shipments of the metal. The Pittsburgh-based company said it will curtail half of the one operating... 

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