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Reuters

Barrick shareholders set to approve Randgold acquisition – sources

4th November 2018 Barrick Gold shareholders have voted overwhelmingly in favor of the Canadian miner's $6.1-billion acquisition of Africa-focused Randgold Resources, three people familiar with the preliminary vote count told Reuters on Friday. Around 99% of the votes tendered so far by Barrick investors are in... 

Zambia power system glitch cuts electricity supply to some mines

2nd November 2018 Power supply to some mines in Africa's second-biggest copper producer was cut due to a technical fault, Zambian state power firm Zesco said on Friday. "We had a system disturbance which led to loss of power on the Copperbelt, including the mines," the utility's spokesman Henry Kapata said. 

Egypt signs $2.3bn power plant deal with Saudi ACWA Power – Minister

2nd November 2018 Egypt signed a deal with Saudi Arabian utility developer ACWA Power on Thursday to build a $2.3-billion power plant in the country's south, the Egyptian electricity minister said. The plant, which will have a capacity of 2 250 MW, will be built in Luxor province, the minister, Mohamed Shaker,... 

Australia's Invictus says it has not found oil and gas deposits in Zimbabwe

2nd November 2018 Australian-listed Invictus Energy said on Friday it had not found oil and gas deposits in northern Zimbabwe but there were indications of a "working petroleum system" which could only be confirmed by a planned exploration well. President Emmerson Mnangagwa told reporters on Thursday that Invictus... 

China demand for Vale ore to keep price above $90/t in 2019 -CFO

2nd November 2018 Chinese demand for top-quality iron-ore from Brazilian miner Vale should stay strong despite trade tensions with the United States, helping the world's top iron-ore producer keep its prices above $90/t in 2019, an executive said. CFO Luciano Siani said the Chinese demand would also support... 

Denel ripe for joint venture partnerships - Ramaphosa

1st November 2018 South Africa's struggling state-owned arms firm Denel is "ripe" for joint venture partnerships, President Cyril Ramaphosa said on Thursday, but added Pretoria would want to retain control if any deal went ahead. Ramaphosa said he hadn't yet applied his mind to a bid for Denel by Saudi, or any of... 

Capital-starved mining sector creates 'buyer's market' for investors

1st November 2018 Specialist mining investors have found a "buyer's market" for projects as the mining sector struggles to compete for funding with new industries, multiple industry executives said at a conference this week. Smaller mines and developers who previously found capital through retail investors in... 

Petrobras to sell stake in Africa unit to Vitol-led group for $1.5bn

1st November 2018 Brazil's Petroleo Brasileiro SA will sell its 50% stake in a Nigerian oil and gas exploration venture to a consortium led by top oil trader Vitol for $1.53-billion, the latest step in the state-controlled oil company's debt reduction drive, according to a securities filing on Wednesday. The other... 

Nigeria's NNPC signs crude-for-product swap deal with BP

1st November 2018 Nigeria's state oil firm NNPC said it had signed a crude-for-product swap deal with oil major BP. In its brief statement on Twitter late on Wednesday, NNPC said more details would be provided later. BP and NNPC did not immediately respond to requests for comment on Thursday. 

SARB made important changes to forecasting model

1st November 2018 The South African Reserve Bank (SARB) made changes in one of its main forecasting models earlier this year that should result in the model predicting less persistent inflation and fewer rate hikes after a spike in inflation. The changes to the Quarterly Projection Model, a tool used by the... 

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