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Oct 07, 2015
South African logistics utility Transnet is considering up to R200-billion ($14.5-billion) in cuts to its capital expansion plans over the next three years, two sources at the company said, as the global demand for iron ore and coal stalls. The utility, four years...
Oct 07, 2015
Embattled miner and commodities trader Glencore Plc on Wednesday called on delegates meeting for a global climate summit later this year to adopt a policy that recognises coal as an important energy source. "We need global policy that acknowledges the global energy...
Oct 07, 2015
Liberia agreed terms to join the World Trade Organization (WTO) with the body's existing 161 members on Tuesday, clearing the final negotiating hurdle in time for ministers to rubber-stamp the deal at a meeting in December, the WTO said. Liberia has been ravaged by...
Oct 07, 2015
Côte d'Ivoire began construction on Tuesday of a four-year, 560-billion CFA franc ($962-million) project to build a second container terminal and widen the canal leading to its main port in the commercial capital Abidjan. Among the busiest in sub-Saharan Africa, the...
Oct 07, 2015
US private equity firm KKR & Co LP is considering investing around $100-million in Africa within a year, a senior executive said on Tuesday. KKR is looking at the agriculture and food business, the energy industry and infrastructure projects, Dominique Lafont, a...
Oct 07, 2015
South African Reserve Bank Governor Lesetja Kganyago said on Tuesday the economy, while weak, will not go into recession this year and that expectations inflation will rise above its target range in 2016 are unlikely to draw a monetary policy response. "Our...
Oct 07, 2015
Poland's main opposition party Law and Justice (PiS), tipped to win a national election due on Oct. 25, could abolish a mining tax that has weighed on earnings at copper producer KGHM, the party's candidate for prime minister said on Tuesday. "If PiS creates the...
Oct 07, 2015
Zimbabwe will ask large mining companies, including units of the world's top two platinum producers, to cut power consumption by up to 25%, part of measures to ease crippling shortages, the energy minister said. The Southern African country, where six in ten people...
Oct 07, 2015
Noble Group's senior US metals traders Scott Evans and Jeff Romanek have left the company, four sources said on Tuesday, the latest in a string of high-profile departures as the Asian commodities trader battles weak metals and oil prices. The departures come as...
Oct 07, 2015
Freeport-McMoRan said it is reviewing strategic options for its oil and gas business, including a spinoff or a joint venture, a week after its biggest shareholder Carl Icahn said the energy and mining company was an example of a "golden" buying opportunity. Activist...
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