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Reuters

ARM Cement's Kenyan assets sold for $50m – statement

21st May 2019 The assets of Kenya's ARM Cement have been sold to the National Cement Company for $50-million, its administrator said on Tuesday. ARM Cement was put under administration last August by some of its creditors over a $190-million debt and its shares were suspended from the Nairobi bourse. It has... 

Brazil iron-ore exports in rise in first half of May amid higher prices

21st May 2019 Brazil's iron-ore exports rose sharply in the first half of May, data showed on Monday, recovering from a more than seven-year low in April, as higher prices encouraged sellers to close more deals internationally. Until May 17, Brazil exported 16.2-million tonnes, according to data from the... 

Vale's Gongo Soco mine dam has up to 15% chance of bursting -Brazil official

21st May 2019 Brazilian miner Vale's tailings dam in the town of Barao de Cocais in Minas Gerais has up to a 15% chance of breaking, the state's environment secretary said on Monday. The dam at Vale's Gongo Soco mine is about 64 km from Brumadinho, where a tailings dam collapse unleashed a torrent of toxic... 

Coca-Cola ends plan to refranchise Africa bottling unit, keeps majority stake

20th May 2019 Coca-Cola Co said on Monday it had dropped plans to refranchise its Africa bottling business, Coca-Cola Beverages Africa, and would instead keep its majority stake in the unit for the time being. The US beverage giant had wanted to refranchise the unit as part of its global plan to divest its... 

Tanzania fines Acacia Mining $2.4m over alleged pollution

20th May 2019 Tanzania's mining minister said on Monday Acacia Mining had been fined 5.6-billion Tanzanian shillings ($2.4-million) for alleged pollution at its North Mara mine. Acacia, majority-owned by Barrick Gold, is embroiled in a long-running tax dispute with Tanzania. 

At disaster forum, storm-hit Mozambique says will seek help to build back better

20th May 2019 Mozambique, which was battered by two cyclones in March and April, will hold an international conference in two weeks' time to drum up funding to help it build back stronger, its vice-minister for state administration said Friday. "What we have learned from these cyclones (is) we need to build... 

Aspen sells Australian prescription portfolio to Mylan

20th May 2019 Aspen Pharmacare said on Monday that Mylan had exercised an option to buy Aspen's portfolio of prescription and over-the-counter products in Australia for A$188-million ($130-million). In December, South Africa-based Aspen said its wholly owned subsidiary incorporated in Mauritius, Aspen Global... 

Nigeria's economic growth slows in Q1 as oil sector shrinks

20th May 2019 Growth in Nigeria's fragile economy slowed to 2.01% in the first quarter as the country's dominant oil sector shrank, the National Bureau of Statistics said on Monday. The annual pace dropped from the previous quarter's 2.38%, when activity was likely to have been boosted by state spending in the... 

Canada vows 'full steam ahead' on ratifying trade pact after US lifts metals tariffs

20th May 2019 Canada will move quickly to ratify the new North American trade pact, Foreign Minister Chrystia Freeland said on Saturday, a day after the United States agreed to lift tariffs on Canadian steel and aluminum. US President Donald Trump had imposed the global "Section 232" tariffs of 25% on steel... 

Palladium boom gives South African miners only temporary reprieve

17th May 2019 A surge in palladium prices has thrown struggling South African mining companies a lifeline. But it may not be enough. Besides patchy power supplies and high labour costs, South African miners are saddled with ore that typically produces twice as much platinum as palladium - just at a time a... 

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