By Nelson Banya (Reuters) -South Africa’s Kumba Iron Ore, a unit of global mining giant Anglo American Plc, on Friday said it was cutting production over the next three years to align output to constrained capacity to transport minerals via rail to port. Transnet, South Africa’s state-owned freight rail and port operator, is struggling to …
Anglo’s S.African iron ore unit cuts production as rail woes persist Read More »
(Reuters) -Voters in Democratic Republic of Congo go to the polls on Dec. 20 and international investors are keenly watching to see if a political shake-up occurs in one of the world’s top suppliers of critical minerals. A win for President Felix Tshisekedi would likely mean a continuation of his goal to lure more foreign …
Explainer-What is at stake for investors in Congo’s election? Read More »
By Maytaal Angel LONDON (Reuters) -The United Nations food agency’s world price index held steady in November, with lower international cereal prices offset by higher prices of vegetable oils. The Food and Agriculture Organization’s (FAO) price index, which tracks the most globally traded food commodities, averaged 120.4 points in November, around October’s levels which were …
By Nyasha Chingono HWANGE NATIONAL PARK, Zimbabwe (Reuters) – Dozens of elephants have died of thirst in Zimbabwe’s popular Hwange National Park, and conservationists fear losing more as a drought caused by climate change and the El Nino global weather pattern dries up watering holes. The seasonal El Nino, which causes hotter, drier weather throughout …
Dozens of Zimbabwe elephants die as climate change dries up Hwange park Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -The Japanese yen jumped on Thursday as Bank of Japan policymakers hinted the central bank may shift away from its ultra-low interest rate plan and a gauge of global stocks rose after three straight falls as investors assessed the latest round of U.S. labor market data. The yen surged …
Yen surges on possible Bank of Japan shift, stocks climb Read More »
By Felix Onuah ABUJA (Reuters) -Shell sees a $5 billion offshore oil investment opportunity in Nigeria and pledged to spend a further $1 billion in five to 10 years to boost natural gas output for domestic supplies and exports, a presidential spokesperson said on Thursday, citing Shell’s director of gas and upstream operations. Nigerian President …
Shell sees $6 billion oil, gas investments in Nigeria, presidency says Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell on Thursday to six-month lows, as investors worried about sluggish energy demand in the United States and China while output from the U.S. remains near record highs. Brent crude futures dropped 25 cents to $74.05 a barrel. U.S. West Texas Intermediate crude futures fell 4 cents …
Oil drops to 6-month low on weak economic outlook, high U.S. supply Read More »
By Hannah Lang WASHINGTON (Reuters) -The yen staged its biggest one-day rally in almost a year on Thursday after Japanese monetary authorities offered a surprisingly clear hint at a shift in policy, while the euro pared some losses from earlier in the week. The dollar index eased ahead of Friday’s U.S. non-farm payrolls report, under …
Yen surges after BOJ hints at policy shift, sending dollar lower Read More »
NAIROBI (Reuters) -A blast at an explosives store wrecked buildings and caused massive damage to an industrial zone on the Seychelles’ main island Mahe, officials said, prompting the president to declare a state of emergency on Thursday. The blast shook the island as heavy rains triggered flooding which killed three people, the president told reporters …
Seychelles declares emergency after explosion and flooding Read More »
By Felix Njini and Clara Denina JOHANNESBURG/LONDON (Reuters) – Anglo American is preparing to freeze spending on growth and widen job cuts in South Africa, going far beyond its initial savings target and paving the way to mothballing some higher-cost platinum mines, sources familiar with the matter said. Anglo’s sweeping spending cuts could be announced …
Exclusive-Anglo American preps sweeping cost cuts as price rout bites – sources Read More »
