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Reuters

Eskom to use $11bn future earnings for nuclear expansion

23rd September 2016 South Africa's power utility Eskom estimates it would have R150-billion ($11-billion) within the next decade to help fund a nuclear expansion programme planned by the government, a senior executive said. In a column in the BusinessDay newspaper, Eskom's group executive for generation, Matshela... 

Brazil's Vale has not decided on sale of fertiliser unit – filing

23rd September 2016 The board of directors of Brazilian mining company Vale has not yet made a decision on selling a stake in its fertiliser unit, the company said in a securities filing on Thursday. The Rio de Janeiro-based company, the world's largest exporter of iron ore, is still looking for a strategic partner... 

Lafarge Africa raises 60bn naira in bond issues

22nd September 2016 Lafarge Africa said on Thursday it has raised 60-billion naira ($184-million) by issuing three and five-year bonds through book building. The local unit of the world's biggest cement maker, LafargeHolcim, issued a three-year bond at 14.25% to raise 26.38-billion naira and sold a five-year bond at... 

Ugandan firm to open gold refinery by end of 2016

22nd September 2016 A Ugandan company backed by a Belgian investor is due to open the East African country's first gold refinery by the end of this year to process raw gold produced mainly from the region, a senior company official told Reuters. Uganda's mineral reserves are generally viewed as under exploited.... 

South Africa holds repo rate, lowers inflation forecasts

22nd September 2016 South Africa's Reserve Bank kept its benchmark repo rate unchanged at 7% on Thursday, with a weak economic growth outlook balancing out its concerns about the inflation trajectory. The bank's Monetary Policy Committee (MPC) revised its forecast for growth in Africa's most industrialised country... 

Ghana could be Africa's number four oil producer by 2020 – report

22nd September 2016 Ghana could become the fourth biggest oil producer in sub-Saharan Africa by 2020 once two new offshore fields come on stream, to push total output above 240 000 bl/d, pan-African bank Ecobank said on Wednesday. The West African country produces around 103 000 bl/d ranking it ninth, far behind... 

Chile's SQM will boost annual lithium hydroxide capacity by 7 500 t

22nd September 2016 Chilean fertiliser and chemical producer SQM will invest around $30-million by the end of 2017 to increase its annual lithium hydroxide production capacity by 7 500 t, the company said in a press release on Wednesday. As part of the plan to boost capacity from 6 000 t to 13 500 t, the company... 

Big gold miners see muted M&A as bullion's rise limits bargains

21st September 2016 The world's biggest gold miners will stay shy of big acquisitions, top executives said this week, noting that a jump in the price of bullion has made potential purchases pricey, and memories of failed deals linger. The need for financial discipline was the dominant theme at the Denver Gold Forum... 

Ontario strikes deal with Bedrock to restructure US Steel Canada

21st September 2016 The province of Ontario said on Wednesday that it has signed an agreement with equity fund Bedrock Industries LP to restructure US Steel Canada, but the deal still requires approval from other stakeholders and a Canadian court. The plan, in a memorandum of understanding, must still be accepted... 

VW investors seek €8.2bn in damages over emissions scandal – court

21st September 2016 Volkswagen (VW) faces €8.2-billion ($9.14-billion) in damage claims from investors over its emissions scandal in the legal district where the carmaker is based, a German court said. A total of about 1 400 lawsuits have been lodged at the regional court in Braunschweig near VW's Wolfsburg... 

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