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Reuters

Zambia copper output to ease slightly this year

11th September 2017 Zambia's copper production is expected to inch lower to 753 992 t this year from 774 290 t in 2016 mainly due to lower output from Konkola Copper Mines, a subsidiary of London-listed Vedanta Resource, the mines ministry said on Monday. Production at Konkola Copper Mines is expected to decline by... 

Nigeria's Shoreline Energy signs $300m gas deal with Shell

11th September 2017 Nigerian energy company Shoreline has signed a $300-million agreement with the local unit of Shell to develop gas infrastructure around the commercial capital, Lagos, both companies said on Monday. Shell said in June that it would place more emphasis on gas rather than oil in the West African... 

Glencore's Mopani agrees to pay new higher electricity tariffs

11th September 2017 Glencore's Zambian unit Mopani Copper Mines (MCM) will pay increased electricity prices caused by the removal of state energy subsidies, the mines minister said Monday. Copperbelt Energy Corporation (CEC), which buys power from the State-owned electricity company and sells to mines, slashed... 

South Africa 'in danger' of missing 2017 growth target – Gigaba

11th September 2017 South Africa is in danger of missing its 1.3% growth target in 2017 due to poor performance of major sectors of the economy that will likely restrain tax revenues, Finance Minister Malusi Gigaba said on Monday. Africa's most industrialised economy aims to collect just under R1.3-trillion... 

Tanzania says to nationalise diamond consignment seized from Petra Diamonds

11th September 2017 Tanzania said on Saturday it planned to nationalise diamonds whose value it put at $29.5-million belonging to a mine majority owned by London-listed Petra Diamonds after it accused the miner of under-declaring its mineral exports. The diamonds were seized at the main airport in Tanzania's... 

Russia's Gokhran has bought only gold this year

8th September 2017 Russia's precious metals and gems repository Gokhran has been buying only gold for its reserves this year, its head Andrey Yurin told reporters in Moscow on Friday. Purchases of platinum group metals are possible but remain subject to market conditions, Yurin said, adding that no purchases of... 

China's CEFC buys into Rosneft as Glencore, Qatar cut stakes

8th September 2017 Chinese conglomerate CEFC will buy a 14.16% stake in Russian oil producer Rosneft from a consortium of Glencore and the Qatar Investment Authority in a move that further strengthens the energy partnership between Moscow and Beijing. CEFC China Energy has grown in recent years from a niche oil... 

Shareholders urge Thyssenkrupp to get on with Tata Steel deal

8th September 2017 Thyssenkrupp shareholders are urging the group to clinch a deal with Tata Steel to merge their European steel businesses this year, warning failure to do so would be a blow to its credibility. Talks between the two firms over a potential combination have been dragging on for a year and a half,... 

Voestalpine's Texas plant reopens after hurricane shutdown

8th September 2017 Austrian specialty steelmaker Voestalpine said on Friday its direct reduction plant in Texas had fully resumed operation after it was shut down for several days due to hurricane Harvey. The $1 billion plant in Corpus Christi, Voestalpine's largest foreign investment so far, opened in October 2016... 

Gold at highest in a year as rate hike expectations recede

8th September 2017 Gold prices rose to their highest in more than a year on Friday as weak economic data reduced expectations of another interest rate increase in the United States this year, U.S. bond yields fell and the dollar plunged to its weakest since early 2015. Demand for U.S. government debt and other... 

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