Sunday, July 12, 2020
Petra Diamonds (PDL.L) warned the coronavirus outbreak had hurt demand in the diamond market as stores were forced to close during the important Lunar New Year period in China, delaying the miner’s debt reduction initiative.
Tullow Oil said it will plug and abandon its Marina-1 well in offshore Peru after drilling reached maximum depth without finding oil, in another sign of trouble for the British oil and gas explorer that sent its shares 8% lower.
Russian state lender VTB (VTBR.MM) has filed a lawsuit in Britain’s High Court against a Mozambican government company it lent hefty sums to as part of a project now at the center of a $2 billion debt scandal, according to an online court filing.
South Africa’s struggling state electricity firm Eskom said on Saturday it would cut up to 2,000 megawatts (MW) of power from the national grid overnight, after a conveyor belt failure at its Medupi coal-fired power station.
Canadian miner First Quantum Minerals Ltd is weighing investment of around $1 billion to lift output at Africa’s biggest copper mine in Zambia, a company document seen by Reuters showed, despite a feud with state miner ZCCM-IH over project funding.
A love for diamonds and entrepreneurship drove two South African sisters to drop their careers as an investment banker and an optometrist. They now run one of the few women-owned diamond polishing businesses in the world.
Stanbic Bank Zambia has reached a new milestone in its support to business with the opening of the Pinnacle Shopping Mall in Kabulonga this week.
U.S. President Donald Trump on Thursday called for the Organization of the Petroleum Exporting Countries (OPEC) to boost oil production to lower the price of the commodity.
Steinhoff has sold a majority stake in its South African auto dealerships unit, it said on Thursday, days after selling its stake in a local industrial group to shore up its finances following a devastating accounting fraud.
A petroleum terminal in Gabon operated by VAALCO Energy Inc resumed production on Thursday, the oil workers’ union said, after being shut down for two days by a strike over employees’ annual leave.

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