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Reuters

Zimbabwe allays fears over gold sales, remittances after currency reform

27th June 2019 Zimbabwe's central bank has reassured gold companies and people receiving money transfers that they will still be able to receive foreign currency in their bank accounts after a ban takes effect in shops. On Monday, Zimbabwe declared its interim RTGS dollar the only legal tender, ending the... 

African nations join majority in opposing US blockage at WTO

26th June 2019 African countries have joined the list of nations wanting an end to a US veto on judicial appointments at the World Trade Organization (WTO), a statement showed on Wednesday, meaning a large majority of WTO member States now openly oppose the US position. The US is blocking new appointments... 

Exxaro says Eskom woes to hit coal production

26th June 2019 Exxaro Resources expects its coal production to fall by 5% by volume in the first half of 2019, mainly due to reduced demand from struggling state-owned power utility Eskom, it said on Wednesday. It added it expects domestic coal demand and pricing to remain stable for the remainder of the year,... 

Zaldivar mine asks for more time to answer questions amid Atacama water concerns

26th June 2019 Chilean copper miner Antofagasta said on Tuesday it would ask regulators for more time to answer questions about an environmental impact study for its Zaldivar mine, which draws water from Chile's lithium-rich Atacama salt flat. Chilean regulators last year delayed their review of Zaldivar's... 

India's gold demand could fall to 3-yr low as prices hit record high

26th June 2019 India's gold demand could fall 10% in 2019 from a year ago to the lowest level in three years as record high local prices dent retail purchases during a key festive season, the head of an industry body told Reuters. Lower purchases by India, the world's second biggest consumer after China, could... 

Indonesia regulatory changes to bring more uncertainty to coal sector

26th June 2019 Indonesian coal miners said upcoming regulatory changes are putting added pressure on their businesses amid depressed prices and rising competition from other energy sources. The Indonesian government is in the process of amending coal mining rules to enforce implementation of a 2009 mineral law... 

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... 

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... 

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