South Africa has no fiscal space left and must implement strong budget consolidation and state-owned company reforms to ensure its debt sustainability, the International Monetary Fund said. The October medium-term budget policy statement showed gross g…
IMF says South Africa has no fiscal space, must push reforms Read More »
The Democratic Republic of Congo, the world’s biggest producer of cobalt, created a State monopoly that will buy all output not extracted by industrial operators in a bid to exert more control over the price of the key ingredient in rechargeable batter…
Congo moves to monopolise about 25% of all cobalt exports Read More »
A drought in parts of Australia that’s delivered record low rainfall is posing potential risks to output at key gold mines in the world’s second-largest producer.
Rainfall in New South Wales state has been at one-in-100 year lows for the past two yea…
Australia’s crippling drought posing bigger risks to gold mines Read More »
The Organisation of Petroleum Exporting Countries (Opec) is considering pushing forward a meeting initially scheduled for March, according to Algeria’s energy minister, after oil prices slumped on concern that the spread of coronavirus would hurt oil d…
Opec may meet sooner as coronavirus puts oil demand at risk Read More »
The outcome of the Canadian government’s pending decision on whether to approve Teck Resources’ Frontier oil sands project is "anyone’s guess," the company’s chief executive, Don Lindsay, said on Wednesday.
At full capacity, the C$20.6-billion…
Teck says ‘anyone’s guess’ if Canada will approve oil sands project Read More »
Financial speculators have created a bubble in palladium that’s bad for the industry, according to MMC Norilsk Nickel PJSC, the world’s biggest producer of the metal. Nornickel is planning to take steps to ease market tightness by shifting sales to mor…
Palladium’s biggest miner says market is in a bubble Read More »
A group of Democratic Republic of Congo citizens asked the UK’s Serious Fraud Office (SFO) to recognise them as victims in its investigation of alleged corruption by Kazakh mining company Eurasian Natural Resources Corporation (ENRC). The 16 Congolese …
Congolese demand compensation in UK corruption investigation Read More »
The global stash of gold in exchange-traded funds hit the highest level in seven years as the impact of the novel coronavirus on markets and sentiment reinforced demand for havens at a time of low interest rates, and the addition of just a few more ton…
Gold ETFs hit seven-year high and it’s not just the virus Read More »
South Africa’s government will tell President Donald Trump’s administration that its review of a preferential trade agreement that could put as much as $2.4-billion in exports at risk is premature and potentially damaging for both economies. The US Tra…
South Africa will caution Trump against ‘premature’ trade review Read More »
Ivan Glasenberg appointed his nephew as head of oil assets at Glencore, the latest changing of the guard in the senior ranks of the world’s largest commodity trader.
Colin Glasenberg, who joined Glencore’s energy business in 2011, is now part of seni…
Glencore appoints CEO Glasenberg’s newphew to run oil assets Read More »
