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Reuters

Trade deficit widens to R5.55bn in October

30th November 2018 South Africa's trade deficit widened to R5.55-billion in October from a revised R3.83-billion deficit in September, official data showed on Friday. Exports rose by 8.5% on a month-on-month basis to R122.32-billion in October, while imports edged 9.7% higher to R127.87-billion, the South African... 

Construction on $4bn Indonesia EV battery project begins Jan 2019 – Minister

30th November 2018 Developers will begin building a lithium battery project in Morowali, on the Indonesian island of Sulawesi, on Jan. 11, Coordinating Maritime Minister Luhut Pandjaitan said on Friday. The $4-billion project involves investors from South Korea, Japan and China, Pandjaitan told reporters, without... 

Brazil future president taps Navy admiral for Mining and Energy Minister

30th November 2018 Brazilian President-elect Jair Bolsonaro on Friday named a Navy admiral as mining and energy minister to oversee Latin America's top oil industry, the eighth veteran of the armed forces to be tapped for a senior government post. Bolsonaro, a former army captain, tweeted the appointment of the... 

More firms show interest in buying South Africa's Clover

30th November 2018 South Africa's Clover Industries said on Friday other unnamed firms have shown interest in buying all its shares, after the dairy firm said in October it was in talks with a potential suitor. Clover, which processes products including yoghurt, beverages, cheese and olive oil, has not named any of... 

Fortescue taps new tech to step up copper hunt across Australia

30th November 2018 Australian miner Fortescue Metals this week said the latest developments in satellite imagery are helping it scour vast swathes of its own backyard for new deposits, seeking an edge as it jostles with global peers for the next big strike. The world's fourth-largest iron ore miner raised its... 

Chile's Codelco copper output, profit falls as costs rise

30th November 2018 Chile's Codelco, the world's largest copper producer, said on Thursday that mine output fell 3% in the first nine months of the year as ore grades sharply declined, leading to a 12% drop in pretax profit. The state-run copper miner earned $1.42-billion pretax between January and September as... 

Vedanta seeks US oil services consortium for new India blocks

30th November 2018 India's Vedanta Resources wants US oilfield services companies to set up consortia to help develop the 41 blocks in India acquired this year by its Cairn Oil & Gas unit, the company's chairman said on Thursday. Vedanta chairperson Anil Agarwal and Cairn Chief Executive Sudhir Mathur met with... 

BMW joins project to improve conditions for cobalt mining in Congo

29th November 2018 German carmaker BMW is exploring ways to improve working conditions for mining cobalt in Congo through a pilot project also supported by chemicals giant BASF, battery maker Samsung SDI and a development agency. Carmakers seeking to boost sales of electric cars are struggling to get their hands on... 

Denel needs partners soon to survive – Wakeford

29th November 2018 South Africa's defence industry is facing a crisis as the State-owned arms maker Denel struggles to survive, and rapidly agreeing equity partnerships is the only way to save it, one of the country's top defence officials told Reuters. Denel's woes put at risk an industry estimated to directly... 

MTN Rwanda signs deal for 50bn franc loan for network upgrade

29th November 2018 MTN Rwanda, the biggest telecoms operator in the East African nation, has signed a 50-billion franc ($56.20-million) loan with eight local banks, whose proceeds will be used to expand and modernise its network. The company, which had close to 4.5-million subscribers in September, is owned by... 

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