Telecommunications group MTN Nigeria on Monday reported an 16.3% increase in earnings before interest, tax, depreciation and amortisation (Ebitda) to N907.9-billion during the nine months to September 30, 2023. During the nine month period, MTN Nigeria’s Ebitda margin decreased by 2.4 percentage points to 51.2%.

Full-year 2023 production guidance of London- and Johannesburg-listed diversified mining and marketing company Glencore remains largely in line with previous guidance. An exception is nickel, guidance for which has been reduced to reflect maintenance outages at the Sudbury smelter in Canada and a longer than expected recovery from 2022 strike action at Raglan in Canada, [...]

The price of both grades of unleaded petrol (93 and 95) will be lowered by R1.78 a litre on Wednesday, while diesel wholesale prices will be cut by between 82c and 85c depending on the sulphur content. The maximum national retail price of paraffin will fall by R1.30 a litre, but the maximum retail price [...]

South African Finance Minister Enoch Godongwana is in a bind as he reworks the nation’s budget in the face of lower-than-expected tax revenue and pressure from the ruling party to bolster government services ahead of next year’s crunch elections. While a commodity boom previously gave Godongwana some breathing space, recent metal price declines and rail [...]

German Chancellor Olaf Scholz said on Sunday his country was willing to invest in gas and critical minerals in Nigeria, Africa's largest oil producer, as he started a two-nation visit to sub-Saharan Africa. This is the third visit to the region by Scholz in two years and comes as conflicts elsewhere highlight the growing importance [...]

London Aim-listed Arc Minerals on Friday closed out a joint venture (JV) agreement with Anglo American in a deal worth $90-million. Parties have completed the subscription of shares in the JV company resulting in a 70% interest being acquired by Anglo American Exploration BV and a 30% interest acquired by Unico Minerals, a 67% Arc [...]

A significant decline in petrol and diesel prices is expected for November, according to unaudited data from the Central Energy Fund. The data suggests that the price of unleaded petrol 95 will decrease by R1.97 a litre, and R1.92 for unleaded 93 diesel is expected to decrease by around 78c cents a litre on Wednesday, [...]

The Western Cape economy indeed had the potential to achieve “breakout growth” rates of 4%/y to 6%/y, and the provincial government was determined to achieve these rates, through the implementation of its Growth for Jobs (G4J) plan. So assured Western Cape Economic Development and Tourism Department Head Velile Dube in an address, hosted by the [...]

Sakatti, with its metal concentrations of platinum group metals (PGMs), copper, nickel, cobalt, and others, may be the site of the next greenfield project of diversified Johannesburg- and London-listed mining company Anglo American. Located in central Lapland in Finland, Sakatti’s polymetallic orebody is aligned to the critical minerals priorities of Finland and the European Union (EU). [...]

State-owned freight logistics group Transnet has confirmed that an open and transparent framework for granting private train operating companies’ third-party access to the South African railway network hitherto monopolised by Transnet Freight Rail (TFR) will come into operation in April next year. In unveiling a recovery plan for the embattled group, chairperson Andile Sangqu reported [...]

The long-term energy transition solutions on which South32 is focused are renewable energy and electrification. The Sydney-, Johannesburg- and London-listed diversified mining company has transitioned to 100% renewable electricity supply at Sierra Gorda copper mine in Chile and is deploying AP3XLE energy efficiency technology at Hillside Aluminium in South Africa to deliver near-term reduction in [...]

Absent an equity injection or debt relief from government, Transnet chairperson Andile Sangqu says the State-owned entity will not be able to deliver on what he described as a “credible” recovery plan for turning around the group’s dismal operational and financial performance. The slump the group’s performance is epitomised by the 77-million-ton collapse in rail [...]