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Telecom Egypt, Liquid Telecom sign MoU to complete fibre network from Cape Town to Cairo
Published: 16 Jul 18
Telecom Egypt has signed a memorandum of understanding with Liquid Telecom to enable the Pan-African group to complete Africa’s terrestrial fibre network stretching across the African continent, the companies said on Saturday. Liquid Telecom, a subsidiary of Econet Wireless Global, has been building a fibre network across southern Africa covering Botswana, Democratic Republic of Congo, Lesotho, South Africa, Zambia and Zimbabwe. It also has a presence in Rwanda, Kenya and Uganda.
Africa's richest man signs $650m Afreximbank loan for oil refinery
Published: 16 Jul 18
Africa's richest man, Aliko Dangote, has signed a $650-million loan facility with the African Export-Import Bank (Afreximbank) for his oil refinery project in Nigeria. The seven-year term loan would attract a moratorium of five years, according to facility terms read out during the signing.
Davies concerned about extension of US tariffs to autos and auto parts Davies concerned about extension of US tariffs to autos and auto parts
Published: 16 Jul 18
South Africa’s steel and aluminium exports to the United States does not pose any threat to US national security, says Trade and Industry Minister Dr Rob Davies. Davies was speaking during bilateral meetings in Washington DC with US Trade Representative Ambassador Robert Lighthizer, US Secretary of Commerce Wilbur Ross, and senators Chris Coons and Johnny Isakson, the trade and industry department (DTI) said in a statement on Sunday.
MTN disposes of its MTN Cyprus holdings for R4.1bn MTN disposes of its MTN Cyprus holdings for R4.1bn
Published: 16 Jul 18
JSE-listed MTN Group subsidiary MTN Dubai has sold 100% of MTN Cyprus to Monaco Telecom for R4.1-billion in cash. The deal, which forms part of the group’s ongoing portfolio review, values the Cyprus subsidiary eight times that of reported 2017 earnings before interest, taxes, depreciation and amortisation.
Top-grade iron-ore may spike to $100/t Top-grade iron-ore may spike to $100/t
Published: 16 Jul 18
High-grade iron-ore may spike to $100 a metric ton as China intensifies a clampdown on pollution by restraining industrial activity, adding further momentum to a trend that’s reshaped the global market in recent years and driven buyers in Asia’s top economy to seek out better-quality material. After sinking in March, top-quality ore with 65% iron content gained every month, hitting $91/t on Friday, and keeping it in positive territory this year even as global trade frictions mounted, according to Mysteel.com. In contrast, benchmark 62% ore has flat-lined in the $60s, and is down 14%. The divergence has exploded the gap between the two.
How mining tycoons are trying to foil a big UK bribery probe How mining tycoons are trying to foil a big UK bribery probe
Published: 16 Jul 18
It’s a faint echo of the defense being floated by targets of the Mueller probe in the US – an unaccountable circle of bureaucrats manipulating the system to their own ends. But in London, it’s the last ditch effort by a trio of Kazakh oligarchs to derail the UK’s biggest bribery investigation.
PET industry supports local waste recycling entrepreneurs PET industry supports local waste recycling entrepreneurs
Published: 13 Jul 18
The polyethylene terephthalate (PET) sector on Friday showed its support to small-, medium-sized and microenterprises in the recycling sector by providing equipment that will enable the enterprises’ effective participation in the mandatory recycling programme launched by the City of Ekurhuleni earlier this month. PET recycling company Petco and PET bottle manufacturer Serioplast donated the equipment, which includes baling machines, industrial platform scales and signage, with the aim of improving the collection, weighing and baling of recyclable material for resale to recycling businesses.
SARB launches commemorative Mandela notes, R5 coin for circulation SARB launches commemorative Mandela notes, R5 coin for circulation
Published: 13 Jul 18
The South African Reserve Bank (SARB) on Friday hosted a commemorative occasion at Freedom Park, in Pretoria, to introduce a series of banknotes and a R5 circulation coin, in honour of what would have been former President Nelson Mandela’s one-hundredth birthday this year.
MGX to earn into Belmont’s Nevada lithium property
Published: 13 Jul 18
Diversified miner MGX Minerals has entered into an option agreement to earn into the Kibby Basin lithium brine project, in the western portion of the Great basin in Nevada, the Canadian firm announced on Friday. MGX will acquire an initial 25% interest in Kibby Basin from TSX-V-listed Belmont Resources by funding up to C$300 000 for a drilling programme. The target area will be an anomaly discovered by a magnetotelluric survey carried out by Belmont in January this year.
Total’s acquisition of Engie LNG portfolio closes
Published: 13 Jul 18
Petroleum giant Total’s acquisition of Engie’s portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.5-billion, has closed.
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