Southern Africa

Anglo American's copper production was largely?flat in the first-half of this year and its copper price guidance for 2026 has been lowered. However, it said that?its diamonds?and steelmaking?coal businesses will post negative earnings underlying in the first quarter. The London-listed company maintained its guidance for full-year production of copper between 700,000 and 760,000 metric tons. The miner produced 343,600 tonnes of copper during the first half, compared to 342,200 tons one year ago. Anglo stated that its proposed merger with Teck Resources is still on track. The final regulatory hurdle will be the approval of China. The miner would become...

Anglo American chose a preferred bidder for its De Beers stake, and Botswana is weighing up whether to exercise its first refusal right on its own or with Anglo American's selected bidder. Anglo sold De Beers in May 2024, as part of an overall restructuring that was prompted by the 'falling diamond prices' and the growing popularity for synthetic diamonds. Private buyers and the government of Botswana (which already owns 15%) have shown interest in this business. Moeti Mohwasa, Botswana’s Minister of State President, Defence and Security, told lawmakers that Anglo American had conducted a competitive bid process with three...

De 'Beers announced on Monday that it will pause production at its Venetia Mine in South Africa for a period of two years. This is part of an overall effort to streamline operations and reduce costs in order to cope with the continued weakness in rough diamond trading. Anglo American is the majority owner of the diamond producer. The company said that the move would delay and reduce some expenditures on an underground mine project, but maintain investment in infrastructure for a higher level of production when the market conditions improve. Venetia is South Africa's biggest diamond mine in terms...

China said on Friday that it would increase cooperation with Namibia, particularly in the energy, agriculture, infrastructure and minerals sectors. This was during talks between Chinese President Xi Jinping and Namibian president Netumbo Nandi Ndaitwah, which took place?in Beijing. Nandi-Ndaitwah is on a 7-day trip to China, since Sunday. He's seeking investment from China, the second-largest country in the world and the top lender. The goal of the trip is to implement the election promises to create jobs and diversify Namibia's economy. "In Namibia we affirm an unwavering commitment (to) this longstanding friendship" between Namibia and China, said Nandi Ndaitwah....

ADNOC Distribution is a subsidiary owned by Abu Dhabi’s state oil giant. It announced on Tuesday that it had signed a definitive agreement to purchase 100% of Shell’s downstream business in South Africa, as the company pursues its expansion abroad. The company stated that the implied enterprise value for 100% of the shares capital was about $1 billion, before adjustments for working capital and net debt at closing. ADNOC Distribution announced that the deal for Shell Downstream South Africa, which includes wholesale fuel, aviation, and lubricants operations as well as 580 company and dealer owned fuel stations, will close in...

Bogolo Joy Kenewendo, the mines minister of Botswana, said that a'soft recovery' in demand for diamonds is taking place in important?consumer?markets like the U.S. Kenewendo stated that Botswana will maintain its supply discipline in order to support a struggling global gems industry, despite the early signs of demand recovering on key markets. Global market is in a long-term downturn because of 'economic uncertainty' and the popularity of lab grown stones. Debswana Diamond Company - Botswana’s joint venture with DeBeers?which accounts for 90% the country's sales of diamonds - temporarily halted production last year at some mines. Kenewendo said: "We will...

Vodacom Group, a South African mobile telecoms company, announced on Monday that it had upgraded its long-term customer growth target following the addition of millions of?customers in the last year. The group focused on Africa, owned by Britain's Vodafone in majority, has cited its rapidly growing financial services business as well as its mobile core business. Vodacom has announced that it will increase its total number of customers to 275 millions by 2030, up from the previous goal of more than 260 million. Its customer base had reached 237.3million in the financial year ending March 31. Vodacom is 'enforcing its...

Two sources familiar with the matter said that Trafigura, a global commodities trader, is "among" three companies competing for a 36.36 percent stake in Natref Refinery of South African petrochemical giant Sasol. After the British-based Prax group, which bought the minority stake in South Africa's sole inland crude oil refining plant from TotalEnergies two years ago for an undisclosed amount, went into bankruptcy in 2025, the remaining shares in the 108.500 barrels per daily plant are up for sale. South?African fuels are among the biggest in Africa, and analysts predict that it will continue to grow for?the near future. This...

South Africa said on Tuesday it would extend the fuel tax cut 'for two more months' to cushion the impact of the iran war on household budgets. However, the relief will end after this period and the country will recoup lost revenue through other means. According to the?International Energy Agency, the U.S. and Israeli war on Iran has led to the largest oil supply disruptions in history. This has hurt countries like South Africa, which import most of their fuel, as global energy prices are rising. The government announced a reduction of one month in the general fuel tax for...

A senior executive at the South 'African petrochemical firm Sasol said that the company has received certification for its sustainable aviation fuel from a German agency. This will allow it to export to the European Union. TUV SUD in Germany awarded ISCC Plus sustainability certification to Sasol's SAF, which is made using cooking oil and vegetables oils at its 108,500 barrels/day?Natref facility. Sasol stated that the agency also certified sustainable chemicals produced by Sasol's sister Secunda compound. Sarushen Pillay is Sasol's Vice President of Strategy and Technology. He said that South Africa had a large amount of used cooking oil....

Sonangol, the state-owned oil company in Angola, has said that it did not receive any formal communication from Botswana indicating its desire to purchase a stake in Angola’s $6.6 billion new?Lobito?refinery. A senior executive of the company confirmed this late on Tuesday. Angola is looking for partners to help fund the delayed refinery, the largest in the country and intended to reduce its dependence on imported fuel. Finance shortfalls and possible partnerships have drawn interest from neighbours. Media reports, citing Botswana’s energy minister Bogolo Joy Kennewendo in parliament on the 27th of March, suggest that the government is considering options...

Bloomberg News, citing sources familiar with the situation, reported that Shell has advanced talks with Abu Dhabi state oil company ADNOC about a possible deal to sell its retail fuel stations in South Africa. The transaction is likely to be worth around $1 billion. ADNOC was named as the preferred bidder, after Shell's failed negotiations with commodity traders Gunvor Group. A deal could be reached as soon as this quarter. The British oil giant has lowered its expectations for first-quarter production of gas due to the "volatility" in the energy markets following the Middle East conflict. Bloomberg reported that Shell...

The Iran War has impacted crude oil and natural gas markets. However, the impact on coal prices has been muted. Prices for thermal grades are quietly rising to multi-year highs. The conflict between the United States of America and Iran has led to the loss of about 10% of crude oil and a fifth of LNG. However, the thermal coal supply has been largely unaffected by the conflict, despite the fact that the cost of shipping and producing has increased due to higher fuel prices. Coal prices are likely to be driven by a number of factors, including the Iran...

Union representatives reported on Thursday that two of South Africa's largest labour unions have accepted the state utility Eskom's offer for a 7% wage hike, while another has rejected it and declared a deadlock by requesting a higher increase. Eskom started pay talks with the National Union of Mineworkers, the National Union of Metalworkers of South Africa and Solidarity last year. Utility's final offer was a 7% increase in pay for each of the three years under negotiation, starting July 2026. Gideon du Plessis, general secretary of Solidarity and Khangela Baloyi, coordinator for NUM's energy sector, said that their members...

S&P Global Ratings cut Botswana’s long-term currency and foreign sovereign credit rating to “BBB-” from “BBB”, citing structural weaknesses?in global diamond markets?that are expected to weigh on the country's mineral-dependent economy longer than anticipated. The agency also maintained its negative outlook and lowered short-term sovereign credit ratings in foreign currency and local currency to "A-3", from "A-2". The downgrade reflects the mounting pressures on Botswana as it is the second largest producer of natural rough diamonds in the world. This sector, which historically represented 70% of exports, and a third of government revenue, faces unprecedented challenges due to synthetic diamonds...

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...

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...

The environment minister announced on Monday that South African coal-fired electricity stations had received some exemptions from the air quality laws, and regulations aimed at reducing harmful emissions. However, he stressed that these measures were not a "blanket respite". The government struggles to find a balance between the calls to reduce carbon emissions and to stop them and the need to supply electricity to Africa's largest economy which is stagnant due to power outages. Eskom, the power utility that generates South Africa's majority of electricity from its fleet of coal-fired plants, applied to exempt 8 of these plants from air...