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South Africa names Jabu Mabuza as Eskom chair in board shake-up

20th January 2018   South Africa’s Deputy President Cyril Ramaphosa has appointed a new board at state-owned power utility Eskom and named Telkom’s chairman Jabu Mabuza as its new chairman, the country’s presidency said on Saturday. 

ADM has made takeover approach to Bunge – WSJ

20th January 2018 Agricultural processing and trading company Archer Daniels Midland has proposed a takeover of Bunge, the Wall Street Journal reported on Friday, a move that could set up a battle for Bunge with London-based rival Glencore in an industry moving towards consolidation. Bunge and other top grains... 

Union at Colombia's Cerrejon to hear wage offer before possible strike vote

19th January 2018 The largest union at Cerrejon, Colombia's top thermal coal mine, was set to meet with the company on Friday to hear a new salary and benefits offer before deciding whether to hold a vote on a possible strike. A work stoppage at the Cerrejon mine, which belongs in equal parts to BHP Billiton,... 

India to allot Coal India 11 new mines to boost production by two-fifths

19th January 2018 India will allow Coal India to build 11 new coal mines, the government said, a move that could increase annual production of the world's largest coal miner by two-fifths. The mines, in the eastern states of Odisha, Jharkhand and Bihar, are expected to operate at full capacity by 2022, Coal... 

Turkish gold imports hit record 370 t in 2017 – Borsa Istanbul

19th January 2018 Gold imports to Turkey hit a record 370 t in 2017, more than trebling from 106.1 t, data from Borsa Istanbul showed. This was the highest level of imports since the data was made available in 1995 and well above the previous record of 302 t set in 2013. 

Egypt, Ethiopia leaders say Nile dam must not ruin relations

19th January 2018 Egyptian President Abdel Fattah al-Sisi pledged on Thursday not to let differences over a dam Ethiopia is building on the Nile river ruin relations with Addis Ababa. Ethiopia hopes the hydroelectric Grand Renaissance Dam will make it Africa's largest power exporter. 

Nigeria passes major oil reform bill after 17 year struggle

19th January 2018 Nigeria has moved closer to turning an oil industry bill into law after a 17 year struggle to complete the legislation which aims to increase transparency and stimulate growth in the country's oil industry. Nigeria' lower house of parliament has passed a version of the bill which is the same as... 

NUM says branch leader at Lonmin unit shot dead

19th January 2018 The National Union of Mineworkers (NUM) said on Friday that its branch chairman at Eastern Platinum Mine, a unit of Lonmin, was shot by unknown assailants and subsequently died in hospital. The shooting is the latest in a spate of such incidents on the platinum belt, which has been the scene of... 

South Africa's rand near 2-1/2 year high, stocks ease

19th January 2018 South Africa's rand scaled a fresh 2-1/2 year high against a broadly fragile dollar on Friday before easing after the central bank held interest rates steady on Thursday. At 0715 GMT, the rand was 0.1 percent weaker at 12.145 to the dollar after earlier hitting 12.0725, its best level since June... 

Nigeria lawmakers look into recovering $21bn revenues from oil groups

19th January 2018 Nigerian lawmakers ordered an investigation on Thursday into whether the government could recover $21-billion in revenues from international oil companies. Oil minister Emmanuel Ibe Kachikwu said in December the government had failed to enforce a legal provision entitling it to a greater share of... 

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