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Reuters

EFF says in election manifesto to nationalise mines

4th February 2019 South Africa's radical leftist Economic Freedom Fighters (EFF) will nationalise all mines by 2023 if elected this year, the party said in its election manifesto launched on Saturday. The party is using an anti-corruption, jobs creation and state control of the economy platform to challenge the... 

India's Vedanta says Anglo American stake buy meets governance requirements

4th February 2019 Indian miner Vedanta said on Monday that its foreign unit Cairn India Holdings Limited's investment in Anglo American met all governance requirements. Vedanta's statement comes days after its shares plunged on Friday, as investors were skeptical of the merits of the investment and questioned the... 

All PIC board members resign

1st February 2019 The entire board of South Africa's state-owned state pension fund, the Public Investment Corporation (PIC), resigned on Friday, citing instability at the firm following graft allegations against at least four directors. "These events have been unbearable to us as individuals," the board said in a... 

Eskom says gets R15bn loan from lending consortium

1st February 2019 South Africa's struggling power firm Eskom has agreed a R15-billion loan facility with a consortium of local and international banks, it said on Friday, an important step as it tries to close a funding gap before the end of March. Eskom is vital to the health of Africa's most industrialised... 

Zambia fires CEO of State mining investment arm ZCCM-IH

1st February 2019 Zambia has fired Dr Pius Kasolo, the CE of State mining investment arm Zambia Consolidated Copper Mines Investment Holding (ZCCM-IH), Mines Minister Richard Musukwa said on Friday, without giving a reason. On Monday, Kasolo said the government should quickly resolve its tax row with mining... 

Anadarko signs long-term deal with CNOOC for Mozambique gas

1st February 2019 Anadarko Petroleum Corp said on Friday a long-term agreement had been signed with the trading division of China's state-owned offshore oil and gas producer CNOOC to supply liquefied natural gas (LNG) from Mozambique. The deal will bring it one step closer to making a final investment decision for... 

Sub-Saharan Africa Eurobonds to perform better this year

1st February 2019 Eurobonds from sub-Saharan Africa will perform better this year even though debt levels in some parts of the region are ballooning, as diminishing prospects for further U.S. interest rate hikes support demand, a Reuters poll found. All but one of ten analysts surveyed this week said it would be a... 

Japan's Mitsui trims FY profit outlook, to keep stake in Vale

1st February 2019 Mitsui & Co on Friday cut full-year profit forecast by 2% due to the absence of a dividend from Vale, but the Japanese trading house does not plan to change its holding in the Brazilian miner, a company executive said. With 110 people confirmed dead and another 238 missing, according to... 

LafargeHolcim completes sale of $1.75bn Indonesian unit

1st February 2019 LafargeHolcim has completed the sale of its Indonesia business in a deal which valued the unit at $1.75-billion, the cement maker said on Friday. Proceeds from the sale to Semen Indonesia will be used to pay down LafargeHolcim's debts, the company said. LafargeHolcim held 80.6% in the business,... 

UN Security Council to review Central African arms embargo by end-Sept

1st February 2019 The United Nations Security Council agreed on Thursday to review arms embargo measures on Central African Republic by the end of September if the country makes progress in areas including reform of its security sector and management of its weapons. CAR has been under a UN arms embargo since 2013... 

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