Southern Africa

Brazil's president Luiz inacio Lula da Silva said that the G20 climate summit in South Africa, and the COP30 summit in Brazil, show that multilateralism remains alive despite attempts by U.S. Donald Trump to dismantle. "Trump is trying to preach against multilateralism and to reinforce unilateralism. "I think multilateralism is going to win," he said to reporters at the Group of 20 summit in Johannesburg. Lula said that Trump's absence from the summit "didn't really matter" to him. "The G20 is still strong." "We need to put the decisions we made into action," he said. He added that he was...

Cyril Ramaphosa, the South African president, said that Sunday's Leaders' Declaration of this weekend's Group of 20 Summit reflected "a renewed commitment to multilateral co-operation". Ramaphosa was the host of the Johannesburg Summit and pushed the declaration through despite the objections of the United States which boycotted this event. Ramaphosa, who addressed the summit's final ceremony, said that the declaration demonstrated the world leaders' "shared objectives outweighed our differences". Donald Trump, the U.S. president, boycotted the summit on November 22-23 because of the allegations that have been widely discredited - the government in the country with a Black majority persecutes...

The Turkish president Tayyip Erdoan praised the deal that was reached on Saturday with Australia to host the U.N. Climate Summit next year, calling it a significant achievement for multilateralism. After a long standoff, both countries have agreed that Turkey will be the host of the COP31 Summit in 2026 and Australia will lead the negotiations. Ankara, Canberra and both had bid to host the conference in 2022 and refused to back down since. Erdogan said at an event on Saturday night in Johannesburg, "Considering that multilateralism in recent years has lost ground, I consider this agreement we reached with...

The leaders of the Group of 20 largest economies gathered in South Africa for a summit boycotted by the United States on Saturday. They were seeking a deal over a draft statement drafted without U.S. involvement in a surprising move described by a senior White House Official as "shameful". G20 envoys agreed on a draft declaration of leaders ahead of the weekend's summit in Johannesburg. Several of the main agenda items will be about climate change. Four sources with knowledge of the matter told us on Friday that this draft was drafted without U.S. consent. One of these sources confirmed...

Four sources with knowledge of the situation said that G20 envoys had agreed on a draft declaration for leaders ahead of this weekend’s summit in Johannesburg, without U.S. involvement. The Trump administration has announced that it will not attend the summit due to disagreements with South Africa, the host country. Some analysts saw an opportunity in South Africa's hosting the G20 despite Trump's anti-multilateralism. No one has revealed the contents of the declaration. On Thursday, President Cyril Ramaphosa stated that South Africa is in talks with the United States about its possible participation The White House denied that this was...

South Africa hosts the first African G20 Trade talks focus on valuable minerals Experts: Local processing is key to creating jobs By Kim Harrisberg Mineral experts and African leaders are in agreement with the protesters. The G20 summit of global leaders is an opportunity for the minerals, such as lithium and cobalt, to be used to the benefit of the continents where they can be found. On the sidelines of the protest, Lazola Kathi, campaign manager for Fossil Free South Africa's Fossil Ban initiative, said: "It is important that the G20 includes communities, so that proper conversations about the development...

The U.N. Climate conference generates hundreds of headlines every year about global efforts to save the world from a climate catastrophe. The conference begins in Belem, a Brazilian rainforest city. What exactly takes place at these annual summits, then? What you should know WHAT IS A COP? The annual Conference is called a COP. This stands for Conference of the Parties who signed the U.N. Climate Treaty of 1992. The U.N. The Framework on Climate Change Convention, or UNFCCC, committed countries to work together to combat climate change. The treaty established the principle "common, but differentiated responsibility", which means that...

The G20 taskforce, established by the South African president Cyril Ramaphosa, has called for an international panel on inequality. They warn that extreme wealth disparities can disrupt democracy and lead to economic instability. Joseph Stiglitz is the chairman of the Extraordinary Committee of Independent Experts on Global Inequality. The report, commissioned by South Africa as part of its G20 presidency, found that since 2000 the richest one percent of the world's population has captured 41% of all new wealth. According to the World Inequality Lab, data shows that the poorest half of the population increased their wealth only by 1%....

It announced late Thursday that the European Union had pledged to invest $13,3 billion in South Africa for clean energy, infrastructure, and pharmaceutical projects. The investment will be used to speed up South Africa's transition to renewable energy by upgrading the grid, introducing energy storage, and implementing green hydrogen. Africa's largest economy is trying hard to attract investors to boost its flagging growth, and to bring down the high unemployment. Meanwhile, U.S. Tariffs have dealt it another blow. In its statement, the EU mentioned the Coega Green Ammonia Project. This project aims to meet the growing demand for ammonia green...

Brazil will propose the establishment of a forum where governments can discuss the impact climate policy has on trade. This is an issue that both the U.N. Climate talks and the World Trade Organization have failed to address, according to three officials who are familiar with the plan. The European Union has been accused by emerging economies such as Brazil, South Africa, and India of restricting the trade with its environmental policies. One example is a December ban on imports that are linked to deforestation. The EU said that trade discussions should take place at the World Trade Organization. Brazil,...

A senior official in the agriculture ministry said that Zimbabwe had brought back its ban on maize exports to support local farmers. The country has also grown enough this year to provide its millers with a bumper crop, the official added. The improved rainfall has increased production and reversed the sharp decline that occurred last year, when El Nino caused a drought in Zimbabwe which forced it to import maize, including GM varieties. "We evaluate the situation daily. Obert Jiri is the Permanent Secretary of Agriculture at the Ministry of Agriculture. Zimbabwe's maize consumption, which is around 1.8 million tons...

Colleen Goko JOHANNESBURG - 18 August A study released by the South African Reserve Bank on Monday showed that South African banks are more reluctant to make loans as extreme weather events have increased the risk of default. The study, which looked at 38 banks from 2009 to 2024, showed that credit growth slowed down after climate shocks like floods and droughts as well as the introduction of carbon taxes in 2019. These findings are in line with global trends, such as those observed in Europe, Brazil and the United States where banks are struggling with the financial impact and...

BHP Group, the mining company, has renewed its takeover bid for rival Anglo American, according to a source with knowledge of the situation. This comes just months after BHP and Teck Resources, the Canadian miner, agreed to merge to form a global heavyweight in the copper industry. Anglo American refused to comment. BHP didn't immediately respond to an outside normal business hours request for a comment. Bloomberg News, citing sources familiar with the situation, reported that BHP made overtures to Anglo American recently. The report added that discussions are still ongoing and a deal is not certain. Anglo American has...

The prices of the main grades in seaborne thermal coal have been recovering modestly from their four-year lows. However, the gains come at the expense of volume as major importers reduce demand. According to analysts DBX Commodities, China, India and South Korea are on course for lower coal arrivals in September than October. The prices of the main Australian and Indonesian grades have been rising since early June after a downward trend that began in October 2023. The lower prices in July and August did increase import demand, but the higher prices are now causing buyers to pull back. DBX...

Open Interest (ROI), your indispensable source of global financial commentary, is Open Interest. The prices of seaborne thermal coal have been recovering modestly from their four-year lows in Asia, but this is at the cost of volume as major importers reduce demand. According to analysts DBX Commodities, China, India and South Korea are on course for lower coal arrivals in September than October. The prices of the main Australian and Indonesian grades have been rising since early June after a downward trend that began in October 2023. The lower prices in July and August did increase import demand, but the...

Duncan Wanblad, a South African mining veteran, lamented Wednesday the country's missed investment in mining as gold prices surged above $4,000 per ounce - a record high fueled by expectations of reduced interest rates and demand for safe haven assets. Anglo American Plc's CEO Duncan Wanblad said that the mining potential of South Africa was not fully explored "due to the unsupportive exploration policy in the past 20 years". "That is a critical part of the mining life cycle." Wanblad explained that the data shows that it takes 17 years to get a deposit permitted, ramped up and in full...

Angola’s state-owned diamond company Endiama bid on a minority stake of Anglo American’s diamond unit De Beers, said the African nation’s Ministry of Mineral Resources, Petroleum and Gas. De Beers, one of the largest diamond companies in the world, has operations across Botswana Namibia Angola South Africa and Canada. According to a June report, the diamond company that Anglo has put on sale due to falling diamond prices had drawn interest from six consortia. The ministry stated that Angola’s proposal did not include a majority stake in De Beers, a Botswana-based company. Instead, it believes the firm should remain a...

According to delegates, no consensus was reached in Geneva during the talks on the first legally-binding treaty for combating plastic pollution. "South Africa regrets that this session was unable to reach a legally binding agreement and the positions are still far apart", its delegate said at a meeting on Friday morning. After a failed meeting of the Intergovernmental Negotiating Committee in South Korea at the end of last year, more than 1,000 delegates gathered in Geneva to begin the sixth round. The United Nations Environment Assembly established the INC in 2022. Its mandate was to create a global, legally-binding treaty...

Peabody Energy announced on Monday that if it is not satisfied with the resolution of issues surrounding Anglo American's Moranbah North Mine, then they may terminate their pending agreement to purchase some Australian steelmaking coal assets from this British mining company. Peabody shares rose over 4% at the opening of trading. An underground fire at Anglo American’s Moranbah North Coal Mine, located in Queensland, Australia's Bowen Basin, has caused the suspension of production. The assets agreement signed by the two companies last year includes the mine. Peabody has informed Anglo American that it has sent a Material Adverse Change notice...

Anglo American, a global miner, reported on Thursday a 15% drop in its production of copper for the first three months of the year. However, the company left the yearly forecast unchanged. The London-listed company said that copper production dropped to 169,000 tons in the first quarter of this year. It attributed the drop in production in Chile. The copper production in 2025 is expected to range between 690,000 - 750,000 tonnes. As the world shifts to cleaner energy sources, it is expected that metals will be used more for electric vehicles and renewable facilities. Prices for industrial metals have...

Some finance ministers did not attend a Group of 20 meeting in South Africa, while other high-ranking officials cut short their trips to the event marred by disagreements over climate change, debt, and inequality. It has never been easy to agree on a statement for a group that includes China and Russia, as well as the European Union, the United States, and other countries. The differences between the countries are more pronounced than ever before, and some of the finance ministers did not attend because they were preoccupied with their domestic politics. The finance ministers of many of G20's largest...

Eskom, South Africa's power utility, has restored six power units after the highest level of controlled power cut early on Sunday. This was after several failures occurred at Majuba and Camden Power Stations over the weekend. Eskom cut power to the grid by 3,000 megawatts on Saturday. "Of the ten units we lost over night, we have returned essentially six units," Dan Marokane said to reporters on Sunday. He said that five to six units would be expected to come online during the day to add to the 3,200MW recovered over night. He said that Eskom will consider reducing its...

Anglo American CEO Duncan Wanblad stated on Monday that the company is working hard to maximize its value in case a new M&A bidder comes along. He also expects significant progress on a much-anticipated spin-off of De Beers' diamond business this year. Anglo American, a London-listed company, rejected a hostile bid of $49 billion from BHP in May. BHP was focusing on Anglo’s copper assets. Anglo has since streamlined its operations by selling coal assets and agreeing on the separation of its platinum business. It still needs to find partners for the UK fertiliser project, which requires massive amounts of...

South Africa's mining market reported 42 deaths last year, the lowest number to date and a 24% improvement on the previous year, official stats showed on Thursday. The stats did not include deaths from prohibited mining. Mines Minister Gwede Mantashe repeated the government's. position that unlawful mining is a criminal activity and not part. of his department's remit. Recently the bodies of 78 miners were pulled from an. unlawful gold mine after a heavily-criticised authorities operation. lasting numerous months that attempted to require them to the surface. Of the deaths caught in last year's official stats,. 11 were in the...