R/€ = 15.61 Change: -0.16
R/$ = 13.46 Change: -0.20
Au 1216.21 $/oz Change: -7.04
Pt 801.00 $/oz Change: -7.73


Light rail line in Nigeria's capital opens to passengers

19th July 2018 Nigeria has opened a new Chinese-built light railway network in the capital Abuja after 11 years of construction, a rare transport project in a nation where economic growth has been stymied for generations by a lack of infrastructure development. Passengers were permitted this week to ride the... 

Alphabet to deploy balloon Internet in Kenya in 2019

19th July 2018 Alphabet's Loon said on Thursday it would deploy its system of balloons to beam high-speed Internet access with Telkom Kenya from next year to cover rural and suburban populations, marking its first commercial deal in Africa. Known as Project Loon, the technology was developed by Alphabet's X,... 

Chile's SQM seeks approval for $450m lithium plant expansion

18th July 2018 Chilean miner SQM on Wednesday began the process of seeking government approval for a $450-million expansion of its lithium carbonate plant, which could more than double its production as demand rises for the key element in the manufacturing of batteries. SQM said in an environmental impact... 

South Africa gold producers offer single-digit hikes

18th July 2018 South African gold producers have offered annual wage increases of around 5% to 6% over three years to most rank and file miners and up to 4.5% for more skilled workers, according to a document seen by Reuters. Gold producers have been giving above-inflation wage hikes for years, adding to the... 

Greece shortlists Glencore, Vitol in Hellenic Petroleum majority stake sale

18th July 2018 Greece has shortlisted Anglo-Swiss Glencore and Swiss Vitol to submit a binding bid for a majority stake in the country's biggest oil refiner Hellenic Petroleum, its privatisation agency said on Wednesday. Athens last month received five expressions of interest for a 50.1% stake that Greece and... 

Google hit with record $5bn EU antitrust fine

18th July 2018 EU regulators hit Google with a record €4.34-billion ($5-billion) antitrust fine on Wednesday for using its Android mobile operating system to squeeze out rivals. The penalty is nearly double the previous record of €2.4-billion, which the US tech company was ordered to pay last year over its... 

Guinea's mining minister says there will be Simandou deal, talks go on

18th July 2018 Guinea is in constant talks with Rio Tinto and Chinalco to finalise a deal on the Simandou iron ore project, its mining minister said on Tuesday, adding he was confident an agreement would be reached. Rio Tinto said in October 2016 said it had signed an outline agreement to sell its major stake... 

EU to curb steel imports after Trump tariffs

18th July 2018 The European Union will launch measures on Thursday designed to prevent a surge of steel imports into the bloc following the US imposition of tariffs on incoming steel and aluminium, the EU's official journal said. The European Commission has proposed a combination of a quota and a tariff to... 

Tullow Oil to shoulder Kosmos' $65m burden over Ghana rig dispute

18th July 2018 Britain's Tullow Oil has to cough up around $65-million for Kosmos Energy's share and legal fees over a cancelled rig contract in Ghana, the companies said on Wednesday. A London judge had ordered Tullow this month to pay rig owner Seadrill around $254-million, saying Tullow was wrong to end the... 

Serbia seeks investors for copper mine

18th July 2018 Serbia published a tender on Wednesday looking for a strategic partner to invest $350-million in its ailing copper mine and smelter RTB Bor. In a tender published in the Politika daily, the Economy Ministry did not say how big a stake it would give to the partner in return for its investment. 

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