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Reuters

South Africa to unveil Eskom support package in coming days – Ramaphosa

5th February 2019 South Africa will in the coming days unveil a package of measures to shore up State-owned Eskom's finances and address structural issues facing the struggling power firm, President Cyril Ramaphosa said on Tuesday. "In the coming few days we will be announcing a package of measures to stabilise as... 

Audit of burst Brazil dam found issues with drainage, monitoring - reports

5th February 2019 A report commissioned by Brazilian miner Vale SA last year to look into the stability of the tailings dam that ruptured January 25 certified it as sound but raised concerns over its drainage and monitoring systems, newspaper Folha de S. Paulo reported on Tuesday. The report by German-based TÜV... 

Centrica, Tokyo Gas sign deal to buy LNG from Mozambique

5th February 2019 British energy supplier Centrica and Tokyo Gas have agreed to jointly buy 2.6-million tonnes of liquefied natural gas (LNG) a year from Mozambique LNG Company, the firms said on Tuesday. Centrica LNG Company, a subsidiary of Centrica, and the Japanese energy company said the LNG would be... 

VEON says aims to buy out Egypt's Global Telecom for $600m

5th February 2019 Telecoms operator VEON Ltd said on Tuesday it intends to offer 5.30 Egyptian pounds ($0.3005) per share for the 42.3% of Cairo-listed Global Telecom Holding it does not already own. The offer for the stake in Global, formerly known as Orascom, represents a 20% premium to its closing price on... 

Unions oppose potential split of Eskom

5th February 2019 South African trade union federation, the Congress of South African Trade Unions (Cosatu) said on Tuesday that it opposed a proposal to split up Eskom into three different entities, adding that it would not solve the struggling utility's governance and debt problems. "We don't support unbundling... 

Private sector shrinks at a slower pace in January – IHS Markit PMI

5th February 2019 Activity in South Africa's private sector deteriorated slightly in January as output and new orders fell while exports rose, a survey showed on Tuesday. IHS Markit's Purchasing Managers' Index (PMI) rose to 49.6 from 49.0 in December, remaining below the 50 mark that separates expansion from... 

Zambia will enforce copper import tax – mining minister

5th February 2019 Zambia is determined to enforce a new 5 percent copper import duty, as part of a plan to keep a greater share of mineral resource profits for the country and tackle its debt, Mining Minister Richard Musukwa said. Musukwa was speaking on the sidelines of the Indaba mining conference in Cape Town,... 

Brazil court tells Vale to halt its largest Minas Gerais mine

4th February 2019 Vale said on Monday that a Brazilian state court has ordered it to stop using eight tailings dams in the wake of a disaster last month that likely killed more than 300 people, a step that will crimp nearly 9% of the company's annual iron ore output. The move is the first step by Brazilian... 

South Africa should consider capitalising power firm Eskom again – CEO

4th February 2019 South Africa should consider increasing capitalisation of power firm Eskom due to lower electricity tariffs, the utility's chief executive officer said on Monday. Eskom CEO Phakamani Hadebe also told a mining conference in Cape Town that there was need to consider "functionally unbundling" or... 

Brazil dam burst death toll rises

4th February 2019 The death toll from a dam burst in the Brazilian town of Brumadinho rose to 115 people on Friday, according to the team tasked with recovering bodies from the site. The rescue and recovery team said that 248 people were now listed as missing, a number that grew by ten after miner Vale, which... 

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