Southern Africa

Trafigura, a global energy trading company, has a plan to restore African woodlands. It has selected its first four projects for carbon removal and plans to invest at least $1 billion in each project over. The projects are part of the Miombo Restoration Alliance - a public-private partnership with 11 governments in central and southern Africa. They cover over 675,000 acres and aim to restore forests that will remove more than 50 million tons climate-damaging gasses. The alliance, which will be launched at New York Climate week?2024, aims to restore Miombo Woodlands, an eco-system that supports more than 300 million...

A study released on Thursday revealed that a "perfect storm" of climate changes and La Nina weather patterns caused catastrophic flooding in southern Africa during the past month. The floods killed 200 people and affected hundreds of thousands more, according to the study. World Weather Attribution's report showed that extreme rainfall events have increased in intensity by 40% since preindustrial time. This is a clear indication that warming ocean temperatures, linked to greenhouse gas emission, are to blame. The current conditions of La?Nina also made things worse. The study stated that severe flooding has been causing havoc in Mozambique and...

Authorities in South Africa closed Kruger National Park to day visitors on Thursday after heavy rains caused a number of rivers to burst their banks. South African National Parks stated that tourists already staying in lodges within the park could stay there, except for areas around the Letaba?river, which were evacuated. The TV footage showed a vast area of the park being submerged in fast-flowing floodwater, with hippos swimming and trees poking through. Roads were closed. Climate change has made storms in Indian Ocean, which is adjacent to southeastern Africa, more powerful. This has led to more flooding in this...

Nestle CEO Philipp Navratil apologized?over the recall of certain batches of 'the?firms infant nutrition products in dozens of -countries. This was a new blow for the Swiss consumer goods company after a difficult 2025. "Before I go into more detail about the situation, I want to sincerely apologize for any worry or disruption this may have caused our customers, our caregivers, and parents," Navratil stated in a video released by the 'company. Navratil announced that all recalls had been made. According to the CEO, there are no confirmed illnesses linked to products. The recall has increased the 'pressure' on KitKat...

Nestle has expanded its recall of certain batches of infant nutrition products beyond Europe. It now includes Africa, Americas, and Asia. Nestle recalled batches of SMA formula, BEBA formula, NAN formula, and Alfamino formulation because they may have been contaminated with cereulide. This toxin can cause nausea and vomiting. Health warnings have been issued in 37 countries including the majority of European states, Australia, Brazil and China. The recall puts more pressure on KitKat, Nescafe and its new CEO Philipp Navratil who is trying to restore growth with a portfolio review following management changes. Nestle shares are down 5.7% this...

Ghana has banned mining within forest reserves as part of environmental protections to protect water bodies and stop deforestation. Africa's leading gold producer, which is also the world's largest, is fighting a rise in small-scale mining, which is degrading forests, rivers and cocoa farms. It is also increasing sustainability risks to its mining industry, resulting in protests. Industrial miners have reported frequent incursions of illegal operators on concessions. This has forced key operators such as Gold Fields AngloGold Ashanti Newmont Asante Gold and Newmont to increase their investments in surveillance drones and community engagement programs. According to data from the...

Ghana has banned mining within forest reserves, as part of an environmental protection program aimed at protecting water bodies and halting the deforestation. Africa's leading gold producer, which is also the world's largest, is fighting a "surge" in?poorly-regulated small-scale mining, which is destroying cacao farms, degrading rivers and forests, and increasing sustainability risks for its mining industry, sparking protests. Industrial miners have reported frequent incursions of illegal operators on concessions. This has forced key operators such as Gold Fields AngloGold Ashanti Newmont and Asante Gold, to increase their investments in surveillance drones, security systems, and community engagement programmes. According to...

The South African financial system is resilient, despite rising debt risks and geopolitical tensions, said the central bank on Tuesday. Local markets are recovering from volatility, and fiscal conditions have improved. The South African Reserve Bank, in its biannual Financial Stability Review, said that global markets are showing strength, driven by technology stocks and artificial intelligence. South African equity markets also recovered after U.S. Tariff hikes in April. This month, the Johannesburg All-Share Index reached a record high of 114,000 points. The report revealed that government bond yields have fallen to their lowest levels in six years, thanks to improved...

British International Investment (BII), the UK's development financing institution, announced Tuesday that it would provide FirstRand in South Africa with a $150-million facility to help African companies reduce carbon emissions. FirstRand’s RMB and FNB business banks will channel the funding to high-emission businesses willing to adopt cleaner technology and lower-carbon practices. Transitional finance loans aim to assist heavy emitters in modifying their operations rather than restricting access to financing. According to the 2025 South African Climate Finance Landscape Study, in 2022-2023, the country raised an average annual amount of 188 billion rands ($10.4 billion). South Africa could require as much...

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...

Angola wants to buy a 20-30% stake in Anglo American De Beers' diamond division. This proposal is currently being discussed with other African diamond producing nations, according to a senior official of the Angola mining ministry. Anglo has put De Beers up for sale amid the falling prices of diamonds and the rise of synthetic diamonds. Angola made a bid in October 2025 for a majority share in De Beers, although it originally sought a minor stake. Paulo Tanganha is the national director for mineral resources in Angola. He said at the African mining conference held in Cape Town that...

Anglo American, a global miner, announced on Thursday a 10% decline in its?copper output last year, to 695,000 tons. This is the lower end of their guidance. They also cut their 2026 forecast for?the transitional metal. The London-listed company now expects copper production in 2026 to range between 700,000- 760,000 tons. This is down from the previous forecast of 760,000-820,000 tonnes, due partly to lower production at its Chilean mine, Collahuasi. Anglo expects to record charges of around $200 million for the second half 2025 in relation to "rehabilitation provisions" at its Chile copper operation. The London-listed company announced in...

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...