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Nigeria clears hurdle for Africa’s second-biggest hydro plant

21st February 2020 Nigeria will build the second-largest hydroelectric plant in Africa after the government settled a legal dispute that was delaying the project, Power Minister Sale Mamman said. “We have now overcome the major problem stopping this project and it is nearly over,” Mamman said in an interview in... 

Gold pops as virus concerns ignite global stampede into havens

21st February 2020 The stars have aligned for gold, as concerns that the coronavirus outbreak may damage growth, hurt risk assets and add to pressures for easier monetary policy trigger a global hunt for havens. Bullion headed for the biggest weekly gain in more than six months as prices hit a seven-year high. With... 

Rio Tinto’s lone female board member to be joined by three more women

21st February 2020 Rio Tinto Group will add three more women to its board over the course of this year, bringing the total to four out of 12 directors. Hinda Gharbi, a vice president at Schlumberger, and JPMorgan Chase & Co.’s Jennifer Nason will become independent non-executive directors on March 1, the company... 

Newmont soars on profit beat with rising gold providing tailwind

21st February 2020 Newmont climbed after the world’s largest gold miner reported earnings that beat analysts’ expectations, helped by a tailwind from higher bullion prices. Miners have been sharing the windfall from stronger prices with investors in the form of higher dividends. Newmont led the pack in January... 

America’s coal country isn’t dead — it’s preparing for a comeback

20th February 2020 At least five of America’s coal producers went bankrupt in 2019. Prices for the fossil fuel have plunged 40% since a 2018 peak. And some of the nation’s largest miners are retrenching and slashing their dividends. But don’t be mistaken: The fight against climate change hasn’t killed off Coal... 

Ethical engagement rings that are truly eco-friendly, guilt-free

20th February 2020 When Krish Himmatramka was working as an engineer in the oil industry, he would spend his spare time in his trailer in northern Louisiana scouring the Internet for the perfect engagement ring for his girlfriend. But he struggled to find one that was ethically and sustainably produced.  After... 

Bill Gates-led fund invests in making lithium mining more sustainable

20th February 2020 Breakthrough Energy Ventures, helmed by Bill Gates, and MIT’s The Engine fund are leading an investment round of $20-million for Lilac Solutions, a US startup aimed at making the extraction of lithium less water-intensive and more sustainable. As the world looks to cut carbon emissions, people... 

Safaricom likely to borrow to fund Ethiopia Telecom bid

20th February 2020 Safaricom, weighing an offer for Ethiopia’s telecom business later this year, plans to take on debt to fund a joint bid by a consortium including parent Vodacom Group and two other entities. “We do know the investment to build the network in Ethiopia will be big,” Safaricom’s interim Chief... 

Nigeria to review privatisation of power assets after supply fails to improve

20th February 2020 Nigeria will review the sale of power assets to private investors after they have been unable to improve power supply in Africa’s most populous country. The buyers of the assets are making technical and commercial losses and only distribute a fraction of existing capacity to end-users, the Power... 

China boosts first batch rare-earth mining quota for 2020

19th February 2020 The coronoavirus outbreak isn’t damping appetite for rare-earth minerals in China. The country has increased the first batch of mining quotas for the strategic materials used in everything from electric vehicles to military hardware. The quota for six dominant producers, including China Northern... 

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