R/€ = 16.01 Change: 0.05
R/$ = 13.57 Change: 0.09
Au 1275.08 $/oz Change: 27.19
Pt 926.50 $/oz Change: 42.00


Pallinghurst targets London, okays share buyback, halves executive pay

By: Martin Creamer     7th December 2017 Diversified mining and marketing company Pallinghurst, which has moved fast to stabilise the now-integrated coloured gemstone acquisition, is initiating a listing on the main board of the London Stock Exchange, going ahead immediately with a share buyback programme and benefitting from executive... 

Newmont poised to oust Barrick as world's top gold producer

By: Bloomberg     7th December 2017 Newmont Mining’s Gary Goldberg has the title of world’s biggest gold producer within his grasp. The CEO raised his 2018 production forecast to a range of 4.9-million to 5.4-million ounces. That exceeds Barrick Gold’s 2018 guidance of 4.8-million to 5.3-million given in February, which doesn’t... 

Kenya set to build coast-to-centre highway to boost Africa trade

By: Reuters     30th November 2017 Kenya on Wednesday signed a $620-million agreement to build a 530 km highway from its east coast to the centre of the country, part of a campaign to boost its role as a regional trade hub. A consortium including a unit of South Africa's Group Five and the Development Bank of Southern Africa with... 

Kefi released from litigation claims by Ethiopian court

By: Megan van Wyngaardt     28th November 2017 A ruling by the Federal Supreme Court of Ethiopia has eliminated all claims against Aim-listed gold miner Kefi Minerals, releasing it from potential liability regarding an inherited claim for damages. This followed a judgment earlier this year that reduced the company's liability from $12-million... 

Power underpins wave of African industrialisation

     24th November 2017 Power is closely tied to a surge of new infrastructure projects and rapid industrialisation across Africa, with significant opportunities still open to the power sector, delegates heard at a briefing for key power sector stakeholders in Sandton this week. Infrastructure spend across Africa will... 

Grand Ethiopian Renaissance Dam, Ethiopia

By: Sheila Barradas     24th November 2017 Negotiations on how to conduct technical studies of the dam’s potential impact on the downstream countries – Egypt, Sudan and Ethiopia – have broken down. 

Africa specialist punts local presence as key to capitalising as infrastructure spend set to boom

By: Megan van Wyngaardt     23rd November 2017 Through innovation in the energy sphere, Africa is slowly starting to overcome historical blockages that have prevented the continent from achieving economic growth and creating sustainable jobs, according to energy consultancy Africa House director Duncan Bonnett. Speaking at a PowerGen and... 

African operations shine as PPC delivers higher H1 earnings

By: Natasha Odendaal     23rd November 2017 Cement producer PPC produced double-digit earnings for the first half of the 2018 financial year, with the JSE-listed group’s rest of Africa cement operations delivering a shining performance. For the six months ended September 30, net profit attributable to PPC shareholders increased by 188% to... 

Nevsun loses bid to stop Canadian lawsuit over forced labour claims in Africa mine

By: Reuters     22nd November 2017 Nevsun Resources lost its bid to have a Canadian court throw out a lawsuit by Eritreans workers who say they were forced to work at its mine in East Africa, according to an appeals court judgment released on Tuesday. A lower Canadian court ruled last October that the lawsuit against Nevsun can... 

Egypt, Ethiopia deadlocked on dam studies 

By: African News Agency      20th November 2017 Egypt and Ethiopia have reached a deadlock in further studies on the effects of the Ethiopian Grand Renaissance Dam (GERD) on downstream countries, Egyptian Al Ahram newspaper reports. This information was conveyed by Egyptian Foreign Minister Sameh Shoukry to US Secretary of State Rex Tillerson... 

Climate change implementation now urgent – Molewa 

By: Megan van Wyngaardt     17th November 2017 Environmental Affairs Minister Edna Molewa has called on all developed countries to urgently implement their pre-2020 pledges, including the provision of additional, new and predicable support to developing countries to reduce the effects of climate change. Speaking at the Bonn climate... 

African models boost construction development

By: Marleny Arnoldi     17th November 2017 Owing to various African countries’ having secured sovereign funding for construction projects that are being planned or in the process of implementation, these countries have the potential to promote rapid gross domestic product (GDP) growth, says consultancy firm WSP.  

Global wind power continues to propel forward in 2017

By: Kim Cloete     16th November 2017 China is surging ahead in wind power, blowing away the US – the world’s second-largest wind power market – by a long margin, while African countries are making more inroads despite facing challenges, delegates attending the yearly Windaba conference and exhibition, in Cape Town, have heard.... 

South Sudan seeks outside help as it aims to power up

By: John Muchira     10th November 2017 South Sudan is pleading for foreign funding and investment in the energy sector to light the country which remains in the dark. Despite being endowed with vast oil and gas reserves and massive potential to generate electricity from hydro, solar and wind sources, the country entirely depends on... 

The new age of digitalisation and the impact on the African energy sector

     9th November 2017 The role of digitalisation within the African energy sector is growing rapidly and will result in demand for innovation, adaptation to new market technologies as well as the development of a new skill set within companies.African countries can add a value of R4 trillion ($300billion) to the... 

Bristow, Friedland may go head-to-head in on-stage copper-gold debate

By: Martin Creamer     7th November 2017 Dr Mark Bristow of Randgold Resources and Robert Friedland of Ivanhoe Mines may go head-to-head in a live on-stage gold-versus-copper debate at the Investing in African Mining Indaba event at the Cape Town International Convention Centre from February 5 to 8, Mining Indaba MD Alex Grose disclosed... 

Global airline association predicts air passenger traffic to double by 2036

By: Keith Campbell     3rd November 2017 The International Air Transport Association (IATA) has forecast that 7.8-billion people will travel by air in 2036. This will amount to a nearly 100% increase over the figure of 4-billion air passengers expected for this year. This projection is based on a average compound annual growth rate... 

Kefi raises output projections for Tulu Kapi

By: Anine Kilian     31st October 2017 Aim-listed Kefi Minerals has reworked the production plans at its Tulu Kapi gold project, in Ethiopia, with production estimated to expand from 115 000 oz/y to145 000 oz/y. The latest estimates take into consideration the impact of the planned finance structure, reflecting the specifics of the... 

CTL beneficial as a synfuel

By: Marleny Arnoldi     27th October 2017 Depending on market forces and subsequent regulations, coal-to-liquids (CTL) as a fuel alternative could be beneficial for the synfuels industry, especially for companies that diversify outside of conversion processes to include other capabilities, says synfuel company Synfuels Americas.  

Steady demand for customisable stainless steel products

By: Robyn Wilkinson     27th October 2017 Owing to its strong reputation for customisable turnkey solutions, there is steady and strong demand for stainless steel processing equipment manufacturer Anderson Engineering’s products throughout the African markets that it serves, says Anderson Engineering deputy MD David Nienaber. 

Grand Ethiopian Renaissance Dam, Ethiopia

By: Sheila Barradas     27th October 2017 The project is 60% complete. 

International airline body forecasts air passenger traffic to double by 2036

By: Keith Campbell     24th October 2017 The International Air Transport Association (Iata) has forecast that 7.8-billion people will travel by air in 2036. This will amount to a nearly 100% increase over the figure of 4-billion air passengers expected for this year. This projection is based on an average compound annual growth rate... 

Hydro-economics: Egypt, Ethiopia and the Nile

By: News24Wire      23rd October 2017 Water ministers from Egypt, Sudan and Ethiopia have gathered last week to discuss how Africa's largest hydroelectric dam will affect water distribution and access to the Nile. The Grand Ethiopian Renaissance Dam (GERD) is 60% complete and has yet to go into operation. The $4.8-billion megaproject... 

Improved African policy can harness industrial development – UN

By: African News Agency      20th October 2017 The right African policy framework, including industrial policies that will generate the skilled jobs and productivity gains needed for the structural transformation of economies, could harness the continent’s rapid urban transition to drive industrial development, the UN said. “African... 

Company expands African footprint to pursue major projects

By: Robyn Wilkinson     20th October 2017 Despite slowing economic growth, political challenges and associated declining investor confidence in many parts of Africa, global project management consultancy Turner & Townsend continues to strengthen its network on the continent as it pursues major projects in mining, oil and gas,... 

Altus secures new exploration licence in Ethiopia

By: Creamer Media Reporter      18th October 2017 Aim-listed Altus Strategies has been granted an exploration licence for the Daro copper/gold project, in northern Ethiopia. The licence covers an area of about 412 km2 and is valid for three years. 

AB InBev completes $3.15bn Coca-Cola Beverages Africa transition

By: African News Agency      5th October 2017 The world’s largest brewer, Anheuser-Busch InBev (AB InBev) on Thursday announced that it has completed the transition of its 54.5% equity stake in Coca-Cola Beverages Africa (CCBA) for $3.15-billion after customary adjustments. This comes after AB InBev last year acquired SABMiller for... 

Legal framework offers model for enhancing transboundary infrastructure investment

By: Mia Breytenbach     22nd September 2017 The United Nations Economic Commission for Africa (Uneca) has unveiled the Model Law that provides a framework for the harmonisation of cross-border rules, regulations, laws and policies governing transboundary infrastructure projects in Africa. The Model Law was unveiled at the yearly Nigerian... 

Premier sells forestry interests to focus on lithium, tungsten assets

By: Creamer Media Reporter      20th September 2017 Multicommodity mining and natural resources development company Premier African Minerals will sell its 52% interest in TCT Industrias Florestais (TCT IF), which principally owns a limestone deposit and forestry interests, in Mozambique, to Amire Glory. Aim-listed Premier will retain a 50%... 

South Africa leads AU trade ministers in discussions on WTO issues

By: African News Agency      19th September 2017 South Africa’s Minister of Trade and Industry Dr Rob Davies and Deputy Minister Bulelani Magwanishe have returned from Ethiopia where they attended the Informal Meeting of African Union Ministers of Trade on World Trade Organisation (WTO). The meeting took place at the African Union Headquarters... 

Ethiopia mulls new potash partner as failed deal is arbitrated

By: Bloomberg     14th September 2017 Ethiopia is considering finding a new partner to develop a potash mine abandoned last year by Israel Chemicals, which has sought compensation at an arbitration court after accusing the government of failing to support the project. Several companies are interested in developing potash deposits in... 

Construction begins on $700m airport project in eastern Rwanda

By: John Muchira     8th September 2017 Construction has started on a $700-million airport project in eastern Rwanda, which the country's government says will be a major boost to efforts to integrate the East African Community and boost intra-Africa trade. "Bugesera International Airport is [also] an important part of Rwanda's strategy... 

Volvo Car SA expecting big change in EV perceptions in coming years

By: Irma Venter     8th September 2017 Volvo Car South Africa (VCSA) MD Greg Maruszewski is confident the local arm of the Swedish group will be able to thrive under its parent company’s new powertrain policy. Volvo announced last month that all new cars launched globally from 2019 onwards will be partially or completely... 

Africa’s transport leaders drive free trade agenda

     6th September 2017 National development across Africa continues to support the commitment undertaken by the 54 members of the African Union in Addis Ababa, Ethiopia in November 2016 to create a continent-wide free trade area.  At the helm of this initiative is Africa’s transport sector, taking continuous strides to... 

Transparency, human survival highlighted in panel discussion on business and SDGs at Responsible Business Forum

By: Sane Dhlamini     1st September 2017 The second day of the Responsible Business Forum kicked off in Johannesburg on Friday with a focus on business’s role in the realisation of the 17 sustainable development goals (SDGs) of the 2030 Agenda for Sustainable Development, which was adopted by world leaders in September 2015. The event... 

SEW-EURODRIVE builds on its East African presence with new offices in Tanzania, Kenya

     30th August 2017 SEW-EURODRIVE is building on its presence in Tanzania, its main hub in Eastern Africa, by opening a new office in Kenya, and commencing with a recruitment drive for Burundi and the Democratic Republic of Congo (DRC). East Africa represents a major growth area for the drive and automation... 

Preliminary field work to start at Tulu Kapi in Sept

By: Creamer Media Reporter      29th August 2017 Selected preliminary field work at gold exploration and development company Kefi Minerals’ Tulu Kapi mine, in Ethiopia, will start as soon as the wet season ends in September. The preliminary field work will include geotechnical drilling of the planned sites for the plant and dams. 

Infrastructure initiative garners support from nine African presidents

By: Natasha Odendaal     21st August 2017 Spearheaded by South Africa’s President Jacob Zuma, the Presidential Infrastructure Champion Initiative (PICI), aimed at accelerating regional trade and unlocking the economic potential of the continent, now has nine African presidents on board, with ten projects in the spotlight as Africa... 

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