ISI Intellinews

Implats CEO David Brown told Mining Weekly although the Zimbabwean government of national unity is making positive statements and wants to create the right atmosphere for investment in mining, the company is still to see whether the positive talk will

Britain will give Zimbabwe USD ###mn in aid this year, Reuters reported. British ambassador to Zimbabwe , Mike Canning, said inclusive government was a significant step and the UK backs it.

Mwana Africa Plc said in a statement on October ## it obtained its first pour of gold from Freda Rebecca gold mine in Zimbabwe after completion of the first phase of its refurbishment programme.

RioZim MD Josphat Sachikonye told Reuters the firm plans to increase gold production to ##kg a month from the current ## kg at its Renco mine by the end of the year.

Lafarge MD Jonathan Shoniwa told Reuters Lafarge#;s Zimbabwe unit plans to increase cement output to ##% of its installed capacity of ###,### tonnes next year.

CEO Kalaa Mpinga told Reuters the company is close to a landmark deal to finance the second phase of its Freda Rebecca gold mine in Zimbabwe , which could set the stage for the revival of a nearby nickel operation.

South African listed retailer Shoprite said it has put its Zimbabwean plans on hold owing to the current socio-economic and political uncertainty. The retailer said it wanted to clarify recent media speculation that Shoprite was pursuing the purchase of

Land seizures must continue and no foreigner should be allowed to own land, a proposal submitted to Zimbabwe #;s cabinet by land minister, Herbert Murerwa, says, according to the US-based Zimbabwe Times .

Zimbabwe #;s finance minister Tendai Biti said the country will grow by #-#% in #### and capacity utilization, revenue collection and foreign investment will rise, but it still faces total debt of USD #.#bn.

Zimbabwe Independent reported the division between Zanu PF and MDC ministers has left finance minister Tendai Biti#;s ambitious debt-relief proposal facing stiff resistance from his hostile colleagues who claim it is ill-advised.

Nestle#;s Zimbabwean unit has stopped buying milk from Gushungo Dairy Estate, a farm owned by president Mugabe#;s wife and seized during controversial land reforms, Reuters reported.

According to the International Monetary Fund, Zimbabwe #;s economy is projected to grow by #.#% in ####, the first expansion since ####. According to Reuters, the world body gave no reason for its assessment but forecast that growth in

It is reported that Econet Wireless Zimbabwe is aiming to increase its subscriber base to # million. The announcement came after the operator concluded a USD ###mn expansion deal with ZTE of China and Ericsson of Sweden.

A top company official said MTN Uganda had raised a USD ###mn syndicated loan for network expansion. Isaac Nsereko, chief marketing officer at MTN, said Absa Capital, the investment banking arm of Absa Group, was lead arranger of the deal.

According to Reuters, South Africa #;s First National Bank started operating in Zambia on October ## in line with its strategy to expand its footprint on the African continent.

Zesco acting MD Cyprian Chitundu told Reuters the power utility and South Africa #;s TATA Africa are in talks with a European and African development bank about raising cash for a USD ###mn power generation project.

The Zambia Development Agency said there are eight parties, including South Africa #;s Telkom and India #;s MTNL, left in the race to buy Zamtel , Zambia #;s fixed-line telephone operator.

A senior government official told Reuters Total plans to sell its ##% shareholding in Zambia #;s sole oil refinery to the Zambian government by the end of this year.

The company said it plans to double processing capacity for blister copper to ###,### tonnes in #### due to higher demand to use the facility by mining firms.

The central bank said that Zambia #;s copper production for the eight months to August #### rose ##% to ###,### tonnes y/y due to increased output by producers.

Zambia #;s Konkola Copper Mines said it is close to completing the capacity expansion of its Nkana refinery to ###,### tonnes per year from ###,### tonnes, according to Reuters.

In a budget speech, Zambia #;s finance minister Situmbeko Musokotwane said on Saturday while the country would raise borrowing to finance its budget deficit, it would take care not to over-borrow.

Konkola Copper Mines said it has hired South African mining company Moolmans to mine for copper under plans to raise output to ###,### tonnes by #### from around ###,### at present.

State power utility Zesco said a southern African bank will provide a USD ##mn loan to Zambia , and China will give a further USD ###mn loan to fund a power project meant to plug a power deficit.

Chambisi Metals plc said on Wednesday it would restart production in two weeks time when suppliers in the Democratic Republic of Congo are expected to deliver cobalt concentrates.

i-Telecom has launched in Uganda with an initial investment of USD ##mn to become the first ###% locally owned operator. It becomes the sixth operator after Zain, MTN, Orange , Warid and utl.

Uganda has suspended the construction of the national backbone fibre cable after intervention of parliament, which accused the ICT ministry of inflating the costs, according to the East African.

Bloomberg reported that Tullow Oil Plc said Uganda approved an initial list of companies interested in bidding for a stake in its projects in the country#;s Lake Albert Rift Basin .

Chief marketing officer Isaac Nsereko said the MTN Uganda intends to start international money transfer services, thereby ushering telecoms into one of the most capitalised industries – international remittances.

The Uganda Investment Authority said planned investments in Uganda fell ##% in value between July and September compared with the previous quarter, despite a big increase in the number of projects licensed.

Reuters reported that the Preferential Trade Area (PTA) Bank said on October # that Uganda #;s regulatory Capital Markets Authority had extended the offer period on its USH ##bn bond until October ##.

Traders said that week ending October ## Tanzanian coffee prices strengthened, boosted by good quality and high demand for the beans on sale. Reuters reported state-run Tanzania Coffee Board said ##,### ##-kg bags had been put up

Tanzania Telecommunication Company Ltd will from this month implement a ##% cut in Internet charges, making Tanzania the first East African country to lower Internet charges.

The Tanzania Coffee Board said the country expects its ####/## (June-April) coffee harvest to drop by ##% to ##,### tonnes due to the cyclical nature of the crop.

After halting a ##-year exclusivity contract given to Tanzania International Container Terminal Services, Tanzania will invite more terminal operators at the port of Dar es Salaam .

Australian Atomic Resources said the estimated size of a Tanzanian coal deposit in which it has an interest through its subsidiary Pacific Corporation East Africa had been increased ##% to ### million tonnes.

Swaziland Electricity Company said the country no longer plans to build a #,###MW power plant to cut its reliance on imported electricity and boost supply in the region, but may opt for a smaller one instead.

Struggling with its first recession in ## years, the South African National Treasury said it will further ease foreign exchange controls to reduce the cost of doing business.

ArcelorMittal South Africa said on October ## steel output rose ##% in Q# q/q, and forecast further improvement in Q#. According to Reuters, the company#;s steel output rose to #,###,### tonnes.

Anglo CEO Cynthia Carroll said the company plans to retain its ##% stake in De Beers in the long term. Anglo, which appointed a new chairman in August, announced a restructuring that will shed a quarter of overhead staff and

Moody#;s Investor Service downgraded Telkom following the sale and unbundling of its ##% stake in cellular network operator Vodacom, according to TechCentral.

Harmony spokeswoman Maria van der Walt told Reuters the company had stopped production at its Target mine in the country#;s Free State province after a rock fall killed two workers on October ##.

South Africa will keep spending to steer its way through a global downturn and its first recession in nearly two decades, but, Reuters reported, defied political pressure by pledging to cut a record budget gap as the economy recovers.

Reuters reported Standard Bank Plc, a unit of South Africa #;s Standard Bank Group, has signed a USD #bn Euro Commercial Paper programme as liquidity eases up in short-term markets.

According to Reuters, Aquarius Platinum Ltd posted a Q# USD #.#mn net profit due to more stable metals prices despite lower production after a mine closure and strikes.

Business Day reported Silverbridge Holdings has boosted its revenues ##% and profits ###% for H# ## August ####. The group, which provides software and consulting services to the financial services sector, increased its revenue to ZAR ##.##mn compared with

TechCentral reported that Wi-Fi hotspot specialist Skyrove has secured a multimillion-rand investment from #Di Capital. Skyrove founder and chief technology officer, Henk Kleynhans, said the #Di transaction injects a significant amount of capital onto the balance sheet while

Reuters reported highlights of South Africa #;s medium-term budget policy statement presented by finance minister Pravin Gordhan on October ##. Budget balance estimated at -#.#% of GDP in ####/##, -#.#% in ####/##, -#.#% in

Shoprite Holdings Ltd said turnover for the three months to end-September rose by ##.#%, increasing its market share by #.#%. According to Reuters, Shoprite, which operates supermarkets in more than ## African countries, said sales growth in

According to Mining Weekly, Sasol is facing the prospect of replacing three of its large old coal mines with three new coal mines. The mines earmarked for replacement are the Twistdraai, Brandspruit and Middelbult operations.

Bloomberg reported that Anglo American Plc may raise at least USD #bn selling assets including its Tarmac and steel units, according to two people familiar with the plan.

South African industrial products importer Hudaco Industries expects to report ##-##% decline in FY profit as recession forces clients to scale back on spending.

Bloomberg reported that South African ferrochrome producers called on the government to restrict exports of unprocessed chromite, arguing that measures are needed to curb increased competition from China .

The Chinese state-backed China-Africa Development Fund aims to secure USD #bn by year-end, raising its total to USD #bn, the fund#;s South African representative, Teng Liliang, told Bloomberg .

Africa #;s second-biggest construction group, Aveng Ltd, expects a worse H# performance, #### than in ####, reported Reuters . The company said volumes in its steel manufacturing and processing business have stabilised, but an ongoing strong rand would hurt foreign earnings.

According to TechCentral , Vodacom has defended its acquisition of pan-African communications company Gateway, despite warnings that its profits would be hit by a R#.#bn impairment related to the deal.

Reuters reported that Pick n Pay plans to boost investment after posting an ##.#% rise in H# HES and an increase in turnover and market share. HES for H# to end August was ZAR #.###, in line with forecast.

South Africa has a new telecommunications network exchange independent of the big operators, Africa.Inx, aimed at assisting smaller internet service providers reduce costs and compete more effectively with larger players in the industry.

Reuters reported that Vodacom expects to post a drop in H# profit, mainly due to a ZAR #.#bn impairment charge arising from an acquisition. Vodacom, majority-owned by Britain #;s Vodafone, said it expected HES for H# to end

According to Reuters , Merafe Resources said output at its joint venture with Xstrata fell ##% between January and September y/y. The company added ferrochrome production at the venture had dropped to ###,### tonnes during the period due to

Deutsche Bank AG said that Anglo American is unlikely to resume dividend payments before ####, as its borrowings grow. The bank added Anglo debt will increase to USD ##.#bn at end ####, before project delivery and cash generation rapidly

Kindle Books director Laura Porco says SA consumers have access to ###,### e-books now that the product has been launched worldwide at a cost of USD ### (excluding shipping and country-specific taxes).

According to Bloomberg, Goldman Sachs Group Inc raised Africa #;s biggest fixed-line operator Telkom South Africa Ltd to "buy" from "neutral". The global investment banking and securities firm said the shares have been excessively penalised for the company#;s

Datatec is to enter the Chinese market and fulfil its ambition of becoming a truly global technology supplier. CEO Jens Montanana said the group is confident it can tap into that large and rapidly growing market through joint ventures or acquisitions.

Bloomberg reported that South African bonds had their biggest weekly slump in the five days ended October ## on concern inflation may surge after the country#;s state-owned power utility said electricity tariffs must triple to finance expansion.

Mining Weekly reported Xstrata Coal won board approval for the full implementation of the USD ###mn (ZAR #.#bn) Atcom East project in South Africa #;s Mpumalanga province.

Parastatal, Armscor CEO, Sipho Thomo, said that cost overruns had inflated the price of eight Airbus A###M military transport aircraft by ###%, from ZAR ##bn, to about ZAR ##bn.

Xstrata Plc#;s case for the withdrawn Anglo American Plc proposed merger of equals, is unchanged, Xstrata CEO, Mick Davis said. Time may allow him to boost output while benefiting from higher commodity prices, Nick Hatch, an analyst at ING

Rio Tinto Alcan (RTA) has scrapped plans to build a ###,###-ton aluminium smelter at Coega in South Africa , due to insecurity of electricity supply and Eskom#;s high tariff increases, Bloomberg reported.

Reuters reported that insurer Old Mutual offered to pay ZAR #.##bn (USD ###mn) in new shares for the ##.#% of South African financial services company Mutual & Federal it does not already own.

MTN Group said the country#;s economic growth and broadband penetration would be affected by cuts in mobile charges if the company is not allowed to rebalance its business in a phased manner, reported Reuters.

South African IT firm Datatec Ltd posted a decline in H# HES to end August, in line with its own forecasts, and said it is looking for expansion opportunities.

Business Day reported South African petrochemicals group Sasol fears the United States might impose sanctions on it due to its investments in Iran . The company told the newspaper in a filing with the US Securities and Exchange Commission on October

According to TechCentral, South African telecoms operators want to build a third international submarine cable landing station along the SA coastline to provide an alternative route for the landing stations at Melkbosstrand north of Cape Town and at Mtunzini north

A Reuters poll showed on October ## South Africa #;s retail sales likely fell again in August. The survey of eleven analysts showed retail sales likely fell by #.#% y/y in August, compared with a #.#% contraction

Thomson Reuters online news and market analysis service, IFR Markets, said Anglo-South African insurer Old Mutual Plc plans to issue a seven-year sterling benchmark bond.

TechCentral reported the Sat-#/Safe submarine telecommunications cable system that links SA with Portugal and Malaysia has been upgraded to between ###Gbit/s (SA to Portugal ) and ###Gbit/s (SA to Malaysia ) to cater for growth in demand for

A source close to the deal told Reuters South Africa #;s Shanduka Coal has bought ###,### tonnes of export capacity at Richards Bay Coal Terminal from South African Coal Mining Holdings Ltd (SACMH).

According to Reuters, Sentula Mining said on Monday it had accepted a conditional offer from a consortium of two firms for its ##.#% stake in the Koornfonetin coal mine, pushing its shares up ##%.

London #;s Sunday Times reported that Xstrata#;s hostile merger approach for rival Anglo American is expected to be ditched in the next few days. The paper said Xstrata CEO Mike Davis is likely to walk away from the proposed

South African trade union Solidarity said Eskom#;s proposed electricity tariff increases could result in more retrenchments in the mining industry. They cited gold and platinum mining as being electricity intensive.

According to Reuters , South Africa said it had been offered ## square miles of land in Angola and Uganda and also a land lease agreement in Zambia . Agriculture minister Tina Joemat-Pettersson said at a conference that South Africa has

South African mines will not be nationalised, outgoing central bank governor Tito Mboweni said, despite repeated calls from some politicians, trade unionists and the ruling party#;s youth league.

South Africa #;s government plans to resubmit a bill to parliament that would allow it to seize land from farmers on failure of negotiations to buy, Reuters reported.

Rand Merchant Bank currency strategist, Nema Ramkhelawan, predicts a gradual ##% depreciation of the rand, to #/dollar, by ####-end. Bloomberg reported that, as domestic consumption recovers, imports will rise to pressure the current-account deficit, causing rand depreciation

South Africa #;s banking regulator commented on the way Nedbank Group Ltd cancelled its sponsorship of Athletics South Africa (ASA)#;s running events after a dispute over ASA#;s handling of the Caster Semenya issue.

South Africa #;s Eskom is keen on private player participation for expansion, but needs far higher tariffs to encourage investment, chairman, Bobby Godsell, told Reuters .

Statistics South Africa said August mining output was down ##.#% y/y. Gold production declined #.#% and other outputs ##.#%. Total August mining output declined #.#% m/m, with platinum group metals (PGM) contributing #.#

The MTN strategy for its talks with Bharti Airtel has emerged, Financial Mail reported. MTN was hoping to gain full management control of the Indian operator over time, by collaborating with Singaporean operator, SingTel.

JSE-listed information security specialist, SecureData, told TechCentral performance improved after restructuring and management changes. Revenue increased by ##%, or ZAR ###mn in the financial year to July ####.

According to Reuters, South Africa#;s net gold and foreign exchange reserves jumped #.#% end September partly boosted by another International Monetary Fund allocation and funds from a foreign bond.

Absa Capital and Rand Merchant Bank said South Africa #;s roads agency raised ZAR ###mn in a bond auction to help raise funds for its toll roads expansion and upgrade.

Northam Platinum said it would start construction on a big new platinum mine by early #### and the first phase would cost about ZAR #bn. Owned by Mvelaphanda Resources, Northam Platinum owns the deepest platinum mine in the world and

Zain#;s divestment plans could be derailed in an ongoing row between it and South African-based Econet Wireless over Zain#;s ownership of its important operation, Zain Nigeria .

Eskom MD for Corporate Services Steve Lennon told Reuters South Africa #;s power utility Eskom sees solar thermal and underground coal gasification playing a significant role in its energy mix to reduce its reliance on coal and cut its carbon footprint.

Harmony Gold Mining Co CEO Graham Briggs said the dollar price of gold could stay above USD #,###/oz this year after it hit a new record, but a stronger rand was eroding gains for South African producers.

Nedbank has concluded a five year, ZAR #.#bn revolving credit facility for South African gold producer Gold Fields. The bank said the funding would be used to refinance existing debt and for general corporate purposes.

AngloGold CEO Mark Cutifani told Reuters the gold producer plans to expand output through exploration. He forecast the dollar price of gold would rise, but a strong rand was eroding much of the gains.

Eskom CEO Jacob Maroga said the power utility Eskom is in talks with global miner BHP Billiton to renegotiate long-term aluminium contracts. According to Reuters, public enterprises minister Barbara Hogan said last month Eskom needed a new deal with