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Reuters

BHP trims forecasts for US, China GDP growth due to trade conflict

30th October 2018 The world's biggest miner BHP Billiton has trimmed its expectations of global growth for next year and 2020 due to a "lose-lose" result from the US-China trade conflict, a senior executive said on Tuesday. BHP's modelling suggested the trade row would cut both Chinese and US GDP growth by about... 

Zimbabwe lithium miner sees first production in Q2 next year

29th October 2018 Zimbabwe Lithium Company (ZLC) expects to complete a pilot plant and start production of lithium concentrates in the second quarter of 2019 after a legal dispute delayed work on the project, its chief executive said on Monday. John McTaggart said ZLC was in discussion with several finance groups... 

Gordhan says anti-graft efforts face 'dangerous fightback'

29th October 2018 Public Enterprises Minister Pravin Gordhan said on Sunday that efforts to clean up corruption in state-owned companies (SOCs) faced "dangerous" resistance which threatened the country's sovereignty. Gordhan, a former finance minister, has been tasked by President Cyril Ramaphosa with cleaning up... 

Namibia scraps black ownership rules for mining exploration licences

26th October 2018 Namibia has scrapped a requirement for companies seeking mining exploration licences to be partly owned and managed by black Namibians, the country's mining industry group said on Friday. The policy was introduced in 2015 to increase the participation of historically disadvantaged black Namibians... 

Vedanta says investing $700m to $800m in South Africa smelter

26th October 2018 Diversified miner Vedanta is investing up to $800-million in a zinc smelter in South Africa, the head of its zinc unit Deshnee Naidoo said at an investment summit in Johannesburg on Friday. Andile Sangqu, executive head of Anglo American South Africa, added at the same summit that his firm would... 

Saudi miner Ma'aden actively looking for overseas investments - CEO

26th October 2018 Saudi Arabian Mining Co (Ma'aden), the Gulf's largest miner, is actively looking for investment opportunities overseas that would complement and strengthen its business inside the kingdom, the company's CEO said on Thursday. Ma'aden, which mines gold and copper and has in recent years expanded... 

Vale expects jump in base metal performance in 2020

26th October 2018 Brazil's Vale, the world's top iron-ore producer, is expecting major improvement in the performance of its base metals division in 2020 but said that production cuts would remain effect this year and next while prices remain low, executives said on Thursday. CEO Fabio Schvartsman forecast a... 

South Africa committed to protecting property rights – Ramaphosa

26th October 2018 President Cyril Ramaphosa used an investment summit on Friday to reassure investors that his government was committed to protecting property rights as it pursues plans to accelerate the pace of land redistribution. "We are committed as government to pursuing a comprehensive approach to land and... 

Ramaphosa seeks new investment pledges as economy struggles

26th October 2018 President Cyril Ramaphosa will seek billions of dollars of new spending pledges from foreign investors and local firms at an investment summit on Friday, as he seeks to haul the economy out of recession before next year's election. The former union leader wants $100-billion of new investments... 

LafargeHolcim cuts full-year earnings forecast as costs bite

26th October 2018 LafargeHolcim increased its sales outlook for 2018 but reduced its profit expectations as the world's largest cement maker reported better-than-expected earnings during its third quarter. The Swiss company said on Friday it now expected annual sales to grow in the 4% to 6% range, up from its... 

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