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Reuters

South Africa weighs new support measures for struggling Eskom

3rd July 2019 South Africa is weighing extra options to support Eskom, including swapping the financially troubled State power firm's debt for government bonds or ring-fencing it in a special account, a senior treasury official said. Discussions are at an early stage, and it is not yet clear which option will... 

Alcoa expects $40m - $50m hit from restarting Canada smelter

3rd July 2019 Aluminum producer Alcoa Corp said on Tuesday it expects to incur a charge of between $40-million and $50-million in the second half of 2019, related to restarting operations at its Canadian smelter in Becancour, Quebec. An 18-month lock out between the company and workers at the Aluminerie de... 

Deep sea mining could destroy 'our last frontier', environmentalists say

3rd July 2019 As India readies for the United Nations to give a green light to deep sea mining and boost its economy, the environmental group Greenpeace said on Wednesday that drilling the seabed could cause irreversible harm and worsen climate change. Without proper governance of the seas, mining could... 

Illegal miners at Glencore concession in Congo defy eviction

2nd July 2019 Illegal miners at a copper and cobalt mine run by Glencore in southeastern Congo defied a deadline on Tuesday to vacate the site, a union official said, raising fears of a potentially violent standoff. A landslide last Thursday at the Kamoto Copper Company (KCC) concession, majority-owned by a... 

Zambia, Zimbabwe to start building Batoka power plant next year

2nd July 2019 Zambia and Zimbabwe will start building the 2 400 MW Batoka Gorge hydropower plant next year, a company jointly owned by the two governments said on Tuesday. The Batoka project involves construction of a dam, powerhouses, roads, transmission infrastructure and houses in both Zambia and Zimbabwe,... 

Safaricom names former CEO Joseph as interim replacement for Collymore

2nd July 2019 Kenya's Safaricom named board member and former chief executive Michael Joseph as its interim CEO on Tuesday after the telecom firm's long-time head Bob Collymore died on Monday following a nearly two-year battle with cancer. Joseph, 73, a dual American and Kenyan national, who served as... 

Morocco hopes to attract $10bn in investment to new tech city

2nd July 2019 Morocco hopes to attract investments worth $10 billion and create 100,000 jobs at a high-tech city near the northern city of Tangier, a local elected official said. Morocco-based BMCE Bank signed a memorandum of understanding in April with state-owned China Communications Construction Co (CCCC)... 

Three coal miners die in Poland after quake

1st July 2019 Three miners died after a tremor on Monday at a Polish coal mine owned by mining group PGG, the company said, in the deadliest incident in the country's mining industry this year. The quake with a magnitude of 2.66 was felt on Monday afternoon in the Staszic coal mine in the town of Katowice, the... 

Freeport-McMoRan expects Q2 loss, cuts gold sales outlook

1st July 2019 Freeport-McMoRan said on Monday it expects to report a loss in the second quarter, hit by lower gold production, weaker copper prices and higher costs, sending the US miner's shares down nearly 6%. The shares were further pressurized as gold prices fell following signs of easing trade tensions... 

Zimbabwe expects to pay $10m to Eskom by end of Monday

1st July 2019 Zimbabwe's government expects to pay $10-million to South African state power firm Eskom by the end of Monday, Zimbabwean Finance Minister Mthuli Ncube said. Zimbabwe, which is grappling with severe power shortages, imports power from neighbouring South Africa. But Eskom cut back power exports to... 

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