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Reuters

SARB still sees 2019 growth at 1.7%

6th March 2019 The South African Reserve Bank (SARB) still expects the economy to grow by 1.7% this year and 2% in 2020, governor Lesetja Kganyago said on Wednesday after the latest fourth-quarter data showed an annualised growth of 0.8%. Kganyago said rising fuel and electricity prices posed a domestic risk to... 

Zimbabwe allows mines, others to import own fuel as shortages bite

6th March 2019 Zimbabwe on Tuesday allowed mining companies and other businesses to import their own fuel following shortages that have gripped the economy in the last six months due to a severe dollar crunch, a cabinet minister said. Supplies of fuel in the southern African nation have been intermittent since... 

Brazil Minister calls Vale 'important' even as prosecutors probe miner

6th March 2019 Brazil's mining minister on Tuesday defended iron-ore miner Vale as vital to the country's economy, even after prosecutors accused the company of pressuring auditors to suppress evidence that its Brumadinho dam was unstable, months before the dam collapsed in January, killing hundreds. Minister... 

Centerra Gold mulls dividend after close of Kumtor deal

6th March 2019 Centerra Gold is likely to reinstate its dividend after it closes a deal with Kyrgyzstan to resolve a longstanding dispute over the Kumtor gold mine, its chief executive said in an interview. The company expects the agreement, which it reached in September 2017 to resolve issues including... 

Barrick shareholder urges joint venture in Nevada with Newmont

5th March 2019 Barrick Gold 's top shareholder said on Tuesday the miner should focus on striking a joint venture deal in Nevada with rival Newmont Mining before considering a full-blown merger. "My preference is a joint venture," Joe Foster of the Van Eck International Investors Gold Fund, said in a phone... 

Shortages, shrinking stocks to energise zinc bulls

5th March 2019 Shortages for a fourth year running and historically low stocks of zinc are likely to propel prices of the metal to $3,000 a tonne over coming months, while an end to the US-China trade dispute could spur even more gains. Benchmark zinc on the London Metal Exchange at around $2 760/t is up... 

South Africa's economy grew 1.4% in Q4 2018

5th March 2019 South Africa's economy expanded 1.4% in the fourth quarter of 2018 after a revised 2.6% expansion in the third quarter, data from Statistics South Africa showed on Tuesday. Economists polled by Reuters had predicted economic growth of 1.6% for the three months to end-December 2018. 

South Africa's private-sector activity expands in Feb – PMI

5th March 2019 Activity in South Africa's private sector expanded for the first time in eight months in February, as output stabilised and new orders fell at a slower pace, a survey showed on Tuesday. IHS Markit's Purchasing Managers' Index (PMI) rose to 50.2 in February from 49.6 in January, breaching the 50... 

Vale fired inspection firm that failed to certify dam -prosecutors

5th March 2019 Brazilian iron-ore miner Vale fired an inspection firm because the company refused to certify one of its dams as safe, months before the barrier collapsed and killed hundreds, prosecutors said in a document filed this week, as they explained why they wanted top Vale executives ousted. After the... 

Codelco’s lithium push fades in favour of copper

5th March 2019 With the global race to secure lithium heating up in 2016, Chile's President Michelle Bachelet wanted to be sure her country seized the moment. Home to half the world's lithium reserves, Chile tapping its state-run miner Codelco to ramp up production seemed a sure bet. Chile's most trusted... 

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