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South Africa's Q4 current account deficit narrows to 2.2% of GDP

7th March 2019 South Africa's current account deficit narrowed to 2.2% of gross domestic product (GDP) in the fourth quarter, from a revised 3.7% in the third quarter, central bank data showed on Thursday. Africa's most advanced economy is heavily reliant on portfolio inflows to finance gaping current account... 

Codelco continues lithium push despite slow progress – Minister

7th March 2019 Chilean State-run miner Codelco will continue to develop its lithium assets, including committing $57-million for further exploration, Chile's Mining Minister told Reuters, even as progress has stagnated at its flagship projects. The company, already the world's largest copper producer, has... 

With sanctions lifted, Rusal says it's business as usual

7th March 2019 Rusal, the world's largest aluminium producer outside China, said on Thursday its business was back to normal after U.S. sanctions were lifted in January, and reiterated a positive outlook for the global aluminium market. The company said sales were gradually returning to levels seen before the... 

SARB says unrealistic to target specific employment level

7th March 2019 South African Reserve Bank (SARB) governor, Lesetja Kganyago, said on Wednesday that it is unrealistic for central banks to target specific employment levels, after the country's governing party said the bank should broaden its focus. The African National Congress (ANC), which is trying to woo... 

Newmont calls initial Nevada joint venture talks with Barrick 'productive'

6th March 2019 Newmont Mining Corp said on Wednesday that initial talks on a possible Nevada joint venture with Barrick Gold Corp were productive. Barrick CE Mark Bristow and Newmont CEO Gary Goldberg met for dinner on Tuesday night in New York. Major shareholders have pushed for a Nevada JV, expressing concern... 

Russia wants to join Luxembourg in space mining

6th March 2019 Russia, a leading producer of natural resources, plans to join Luxembourg in mining for minerals in outer space, Russian Deputy Prime Minister Tatyana Golikova said on Wednesday. Space mining has been the realm of science fiction, but a handful of firms and governments are pursuing the idea of... 

Kazatomprom expects revenue to grow this year

6th March 2019 Kazakh uranium miner Kazatomprom expects further revenue growth this year on higher prices, it said on Wednesday after posting a 112% jump in 2018 adjusted net profit on higher sales volumes and prices. London-listed Kazatomprom's net income adjusted for one-off transactions stood at... 

ArcelorMittal reaches railway deal, resumes output at Bosnia mine

6th March 2019 ArcelorMittal has agreed a provisional transportation deal with a Bosnian regional railway company, the steelmaker said on Wednesday, allowing production to resume at its iron ore mines in northwestern Bosnia. Production at the mine was halted after talks on the deal with the Zeljeznice RS... 

African fuel retailer Vivo Energy posts higher profit, volumes

6th March 2019 African fuel retailer Vivo Energy Plc reported a 2% rise in 2018 gross profit on higher volumes and forecast low to mid double-digit%age volume growth for the current year despite tough market conditions in Morocco. The company, which distributes and markets Shell-branded fuels and lubricants in... 

South African business confidence falls to five-month low in February

6th March 2019 South Africa's business confidence deteriorated in February, falling to 93.4 from 95.1 in January, the South African Chamber of Commerce and Industry (SACCI) said on Wednesday -- the index's lowest level since September. Confidence in Africa's most industrialised economy has been strangled by... 


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