Off The Wires

First Quantum to slow $1bn Zambia spend

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Vancouver-based First Quantum Minerals would stop or low up to $1bn in investment in Zambia amid an escalating row over taxes in the country.

Illuka considers bid for Kenmare Resources

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Australia's Illuka Resources was considering making a bid for Mozambique zircon miner Kenmare Resources.

‘Massive’ turnout at SA’s platinum mines

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Platinum industry mineworkers flooded back to work on Wednesday a day after signing of a new wage agreement between producers and AMCU.

Nersa to make Eskom call end-July

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The National Electricity Regulator of South Africa would decide by end-July on Eskom's application to have tariffs increased.

S&P downgrades Eskom credit rating

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Standard & Poor's downgraded Eskom's credit rating following a similar downgrade to South Africa.

AMCU’s Mathunjwa vows to continue fight

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Joseph Mathunjwa, president of the Association of Mineworkers & Construction Union vowed to continue the fight against "slave wages".

Economy will recover from strike: Davies

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Rob Davies, trade and industry minister, said South Africa would recover from the five month platinum strike as minerals beneficiation took centre stage.

Gecamines seeking $160m to fire staff

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The Congo state owned base metals miner, Gecamines, required $160m to fire 6,000 people, about half of its staff.

Govt. prepares urgent Eskom recapitalisation

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The recapitalisation of Eskom had become urgent amid fears credit ratings agencies would downgrade the power utility to below investment grade status.

Burundi to take 15% in Kermas iron ore plan

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The government of Burundi is to take a 15% stake in a iron ore, nickel and cobalt mine, said Kermas Group CEO, Danko Konchar who is the majority owner.