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Reuters

Omnia posts full-year loss on mix of negative drivers

25th June 2019 Omnia Holdings, a South African chemicals and fertiliser maker, reported a full-year loss on Tuesday as a volatile currency, droughts, changes in the mining industry and difficult global trading conditions dented its business. The company, which also produces explosives, posted a headline loss... 

China's CNMC agrees to work on Madagascar rare earth project

24th June 2019 A unit of China Nonferrous Metal Mining Group (CNMC) said on Monday it had signed a non-binding memorandum with Singapore-listed ISR Capital that could see the Chinese firm work as a contractor on a rare earths project in Madagascar with rights to purchase products. China Nonferrous Metal... 

Airtel Africa receives pre-IPO interest worth about $200m – bookrunner

24th June 2019 One of the bookrunners handling Airtel Africa Ltd's planned initial public offering on the London Stock Exchange said on Monday it had received indications of interest worth about $200-million from pre-IPO investors. Airtel Africa, a unit of India's Bharti Airtel Ltd, last week set a price range... 

Nigerian court adjourns Oando case against securities regulator to 22 July

24th June 2019 A federal court in Lagos on Monday adjourned until 22 July a case brought by local oil firm Oando to halt management changes the country's securities and exchange commission is trying to enforce. The SEC's action followed an investigation in which it allegedly found evidence of financial... 

South Korea's Posco drops plans for Chilean battery material plant

24th June 2019 outh Korea's Posco has pulled out of a project to build battery parts in Chile, the Asian steelmaker said, little more than a year after winning guaranteed access to cheap lithium from top producer Albemarle. POSCO, together with partner Samsung SDI, won a 2018 Chilean government tender to build... 

Workers at Chile's Chuquicamata copper mine vote to continue strike

24th June 2019 Labour unions at Chile's Chuquicamata copper mine voted on Saturday to reject the latest contract offer of government-controlled mining company Codelco, and to continue the week-long strike at the sprawling production site. The unions went on strike eight days earlier after initial negotiations... 

Ethiopia's army chief, top regional officials killed in northern coup attempt

24th June 2019 Ethiopia's army chief of staff and the regional president of the northern state of Amhara were killed in two related attacks when a general tried to seize control of Amhara in an attempted coup, the prime minister's office said on Sunday. Amhara state president Ambachew Mekonnen and his advisor... 

French car maker PSA opens $630m Morocco plant

21st June 2019 French carmaker PSA on Friday opened its €555-million ($630-million) factory in Kenitra's Atlantic Free Zone, near Rabat. PSA will initially produce an annual 100 000 cars in 2020 increasing to 200 000 by 2023, Morocco's Industry Minister Moulay Hafid Elalamy said at an official inauguration... 

Toyota Tsusho to wait on EV market before upping lithium investment

21st June 2019 Toyota Tsusho, one of the world's biggest lithium producers, said on Friday it would take at least two more years to properly gauge the global electric vehicle (EV) market's direction before deciding whether to further expand supply. Over the next two to three years, major automakers would be... 

Vodacom to sell some operations in five African markets

21st June 2019 South African mobile phone operator Vodacom Group said on Friday it had entered into agreements to sell some of its Business Africa operations, which offer business-managed services to enterprises. Vodacom, which is majority-owned by Vodafone Group, said it had agreed to sell the Angolan assets... 

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