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Tanzania's China-backed $10bn port plan stalls over terms – official

By: Reuters     23rd May 2019 A planned $10-billion port project in Tanzania backed by China has hit an impasse, with the two sides disagreeing on terms of the infrastructure investment, a senior Tanzanian port official said on Wednesday. In 2013, Tanzania signed a framework agreement with China Merchants Holdings... 

China to promote capacity restructuring in steel, coal, coal-fired power

By: Reuters     9th May 2019 China will encourage mergers and restructuring in the steel, coal and coal-fired power sectors this year as part of its campaign to mainstream heavy industry, the country's economic planner said in a statement on Thursday. China will eliminate all "zombie firms" by forcing them to write off or... 

Rio Tinto shipping more aluminium to Europe as US demand slows

By: Reuters     9th May 2019 Rio Tinto has begun shipping more aluminium to markets like Europe to offset slowing demand from the US partly caused by the trade dispute between China and the US, CEO Jean-Sébastien Jacques said on Thursday. Jacques said that demand for Rio Tinto's products had not been impacted by the... 

SAA launches direct service to Guangzhou, China

By: Simone Liedtke     6th May 2019 State-owned airline South African Airways will start direct flights between Johannesburg and Guangzhou, China, on September 18. Giving customers access to the heart of China’s export-led manufacturing industries is another part of the airline’s strategy of enhancing its route network. 

Oracle’s Chinese partners commit to changing equity holdings in Pakistan project

By: Simone Liedtke     29th April 2019 As part of the China Belt and Road Summit, held in Beijing on April 27 and 28, Beijing Jingneng Power Company (BJPC) and PowerChina International, have ceremonially signed a memorandum of understanding that will result in a change in the equity shareholding in the Thar Block V1 lignite coal mine... 

Kenya secures $666m from China for tech city, highway

By: Reuters     29th April 2019 Kenya has secured 67.5-billion shillings ($666-million) in funding from China to build a data centre in a tech city currently under construction and a highway in Nairobi, the president's office said on Friday. Kenya has turned to China over the past few years for funds, technology and equipment... 

Ncondezi Energy JDA entering final phase

By: Tasneem Bulbulia     29th April 2019 Ncondezi Energy has entered into the final phase of negotiations with its strategic partners, China Machinery Engineering Corporation and General Electric South Africa, to sign a binding joint development agreement (JDA) for the company’s integrated 300 MW power and coal mine project in Tete,... 

China's Australian coking coal imports double in March from Feb

By: Reuters     25th April 2019 China's imports of Australian coking coal nearly doubled in March from a month earlier, customs data showed on Thursday, as a flurry of shipments were accepted after being delayed at customs clearance for more than a month. Arrivals of Australian coking coal were at 2.23-million tonnes last... 

Tiffany training Africans to cut diamonds sourced from the region

By: Bloomberg     15th April 2019 Tiffany & Co has been expanding its workforce in sub-Saharan Africa – a region of almost one billion people where the jewellery giant does not have a single store. More than a quarter of the New York-based company’s 1 500 global diamond cutters and polishers are now based in Africa, CEO... 

Profitable coal trade beckons buyers brave enough to test China

By: Bloomberg     5th April 2019 Its high quality and the price is a bargain, but the risk may be too great for Chinese buyers looking for a quick profit. Newcastle thermal coal prices have lost almost $20 a ton, or almost 19 percent, since early March, making supplies from Australia cheaper than Chinese domestic grades for the... 

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