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Reuters

Brazil federal authorities should take up Belo Sun mine case, court rules

12th September 2018 A Brazilian court ruled that a mine planned by Toronto-based Belo Sun Mining in the Amazonian state of Para should be examined by federal authorities and its licences reviewed, prosecutors said on Tuesday. The decision could further lengthen the approval process for the company, which has been... 

Trafigura loses last big Angolan oil deal as new president shakes up sector

12th September 2018 Trafigura has lost its last big contract in Angola, once a core market and revenue generator for the trading house, as the country's new president Joao Lourenco part ways with oil firms that worked with his predecessor Jose Eduardo Dos Santos. Trafigura, which declined to comment, lost the rights... 

July manufacturing output up 2.9%

11th September 2018 South Africa's industrial output expanded in July as food and motor vehicle output rose, easing pressure on an economy that recently slipped into recession and is struggling for investment amidst policy uncertainty and possible credit downgrades. The statistics agency in Africa's most... 

Aspen mulls sale of infant formula unit

11th September 2018 South African drug maker Aspen Pharmacare said on Tuesday it was in discussions to sell its global infant formula business, but did not give any further details. Aspen's infant milk formula business sells infant milk formula in the Asia-Pacific, Sub-Saharan Africa and Latin America, and has a... 

MTN says Nigeria's attorney general exceeded powers in $2bn tax bill

11th September 2018 Nigeria's attorney general exceeded his powers in demanding $2-billion in taxes and charges from MTN Group, the telecoms firm said in papers filed with Nigeria's High Court and reviewed by Reuters. The papers, filed on Monday in a move by the Nigerian arm of the South African firm aimed at... 

Alrosa sales in 2019 to exceed production

11th September 2018 Russian diamond miner Alrosa said on Tuesday that its sales next year would be one-million to two-million carats higher than its production in 2019, the RIA news agency cited Alexei Filippovsky, its CFO, as saying. Alrosa expects it production to be around 37.5-million to 38-million carats next... 

Severe drought halts production at second K+S site in Germany

11th September 2018 An ongoing severe drought in Germany has prompted minerals miner K+S on Tuesday to shut down production at a second site at its Werra mine network in central Germany. K+S shut down production at its Wintershall site two weeks ago and has now temporarily halted output at is Hattorf site, as... 

South African business confidence slips in Q3 – survey

11th September 2018 South African business confidence fell marginally in the third quarter, a survey showed on Tuesday, after the economy slipped into recession and hopes faded for a revival under President Cyril Ramaphosa. The Rand Merchant Bank (RMB) business confidence index compiled by the Bureau for Economic... 

Glencore-led Australian coal port wins court nod on $3.2 bln debt refinancing

11th September 2018 Australia's Wiggins Island Coal Export Terminal obtained court approval on Tuesday for a $3.2-billion debt refinancing plan, offering respite to its owners who would have had to start repayments this month. The Queensland-based terminal, known as WICET, is 40% owned by miner and commodities... 

Norway survey reveals seabed sulphide mineral deposits

11th September 2018 Norway's Petroleum Directorate has identified previously unknown deep sea sulphide mineral deposits, which may include metals such as copper, zinc, cobalt, nickel, vanadium, wolfram and silver, it said on Tuesday. The minerals were discovered in the western part of the Norwegian Sea at ocean... 

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