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Reuters

Commission grants Barclays Africa some immunity in FX rigging probe

21st February 2017 South Africa's competition watchdog has granted Barclays Africa conditional immunity from prosecution in return for its continuing cooperation in the rand currency rigging probe, the head of Competition Commission said on Tuesday. The Commission said last week it had found more than a dozen local... 

Gordhan sees difficult political year for ruling ANC

21st February 2017 South African Finance Minister Pravin Gordhan said on Monday he sees a "difficult political year" for the ruling African National Congress (ANC) but that he saw "green shoots" of growth in an economy that is barely growing. The ANC has a major policy conference at the end of June and late this... 

Russia's Alrosa CEO could step down – sources

21st February 2017 Andrey Zharkov, head of Russian diamond giant Alrosa, could step down soon, two sources familiar with the situation told Reuters on Monday. Alrosa is the world's largest producer of rough diamonds in carat terms. Together with Anglo American's unit De Beers, they produce about half the world's... 

Government-mediated talks between Escondida union, BHP fail

21st February 2017 A government-mediated meeting between BHP Billiton and striking workers at its Escondida mine in Chile has failed, and workers will head back to their encampment without any future dialogue planned, a union spokesman told Reuters on Monday. "The company is continuing with their stubborn posture,... 

Competition Commission settles with Citi over currency rigging

20th February 2017 South Africa's Competition Commission has reached an agreement with Citibank for its role in a forex trading cartel, the antitrust watchdog said on Monday. The commission said in a statement Citi would pay a fine of R69.5-million rand ($5-million), less than the 10% of South African annual... 

Ten firms express interest in Kenya road building partnership

20th February 2017 Ten companies have expressed interest in building a major road project from Nairobi into the Rift Valley and managing it for 30 years, Kenya's Public Private Partnership Unit (PPPU) has said in a statement. The East African nation is seeking more private investment to maintain the pace of... 

Vale scraps controlling bloc, merges shares in major transparency move

20th February 2017 Vale SA plans to become a company with no defined controlling shareholder as soon as possible, in a landmark step aimed at enhancing transparency and equal rights for all shareholders in the world's largest iron-ore producer. In a Monday statement, Vale said controlling shareholders grouped under... 

Solar-powered Africa 'never more possible and less expensive' – energy chief

20th February 2017 A “solar revolution” is coming to Africa, comparable in scale and importance to the rapid surge in mobile phone use on the continent two decades ago, predicts the head of the International Renewable Energy Agency. Fast-dropping costs for solar power, combined with plenty of sun and a huge need... 

Freeport Indonesia says could seek arbitration over mining contract violations

20th February 2017 Freeport-McMoRan Inc's Indonesian unit said on Monday it hoped to resolve a dispute with the government over its mining contract, but reserved the right to start arbitration against the government and seek damages. Freeport has submitted a notification to Indonesia's mining ministry describing... 

Philippines minister stands by call to shut mines ahead of review

20th February 2017 The Philippines' environment minister said on Monday she stands by her decision to shut more than half the country's operating mines and bar mining in watershed zones ahead of an inter-agency meeting later in the day to review the move. The government's Mining Industry Coordinating Council will... 

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