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Reuters

China's Hebei province exceeds steel, other capacity cut targets for year

3rd November 2017 China's top steel producing region Hebei province has surpassed its cutting targets for this year in steel, coal, cement and glass, under efforts to cut air pollution and overcapacity, state media service Xinhua reported on Friday. Hebei, which lies close to Beijing, has cut 25.55-million tonnes... 

Niger Delta Avengers group says ends ceasefire in Nigeria oil hub – website

3rd November 2017 Nigerian militant group Niger Delta Avengers said on Friday its ceasefire on attacks in the country's southern oil-rich region was at an end. "We can assure you that every oil installation in our region will feel the warmth of the wrath of the Niger Delta Avengers," the group said in a statement... 

South Africa not considering IMF bailout for now – Treasury official

3rd November 2017 South Africa is not considering an International Monetary Fund (IMF) bailout at this stage, a senior Treasury official said on Friday, as the country struggles with weak growth, low tax receipts and rising debt. "Financial markets can behave in very unpredictable ways so all options are on the... 

Congo State miner failed to log $740m in revenues, report says

3rd November 2017 Democratic Republic of Congo's State mining company failed to internally register $740-million in income between 2011-2014, much of which is now untraceable, the Carter Center said in a report on Friday. The amount makes up two-thirds of the $1.1-billion that the copper producer was entitled to... 

Treasury says PIC will not invest in national airline

3rd November 2017 South Africa has not yet identified a potential equity partner for troubled national airline SAA and the State pension fund manager PIC will not invest either, National Treasury said in a response to questions to Parliament on Friday. The Public Investment Corporation, one of the continent's... 

BHP aims for more copper, oil; steers away from EV minerals

3rd November 2017 The world's biggest miner BHP's response to the electric vehicle debate is to hunt for new reserves of copper and oil, while seeking a buyer for its assets to produce battery-grade nickel and steering clear of lithium and cobalt. Arnoud Balhuizen, chief commercial officer at BHP, has said 2017... 

US withdraws from Extractive Industries Transparency Initiative

2nd November 2017 The US has withdrawn as an implementing country from the Extractive Industries Transparency Initiative (EITI), an international initiative to account for revenues from extractive industries, including the global oil sector and mining. In a letter to the EITI board on Thursday, the Director of... 

Kyrgyzstan government shuts Kaz Minerals mine for 3 months

2nd November 2017 London-listed Kaz Minerals said the government of Kyrgyzstan had suspended operations at its Bozymchak gold and copper mine on Thursday for three months. "The group believes that Bozymchak is in compliance with its obligations and is in discussions with the relevant authorities to recommence... 

Fertiliser maker Yara may build $2bn Mozambique gas-fired plant

2nd November 2017 Norwegian fertiliser maker Yara International is considering building a $2-billion plant in Mozambique and may seek partners to share the cost, the chief executive said. Mozambique awarded Yara a project in January to make ammonia and urea from the country's gas output, saying the firm could... 

NAFTA talks causing business uncertainty – Rio Tinto executive

2nd November 2017 The current state of talks to update the NAFTA trade pact is creating uncertainty among businesses and could hurt investments and growth, Rio Tinto Aluminium chief executive Alf Barrios said on Wednesday. Canada and Mexico say several U.S. proposals for modernizing the North American Free Trade... 

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