Middle East & Africa
Thursday, 13 October 2011 12:23
1043
LUSAKA: Zambia will negotiate larger stakes in projects with foreign mining firms and plans to revamp tax collection to improve transparency and maximize benefits for itself, the minister of mines said.
Zambians striking over poor pay at Chinese mines returned to work this week after winning a nearly 100 percent pay rise, just over a fortnight after a new president took office on the promise of improving mining conditions.
Long-time opposition leader Michael Sata won election in Africa's top copper producer on Sept. 20 on a populist platform that included criticism of foreign investors and promises to improve the lives of workers.
"We would like to increase our shareholding to at least 35 percent in all the projects, but that will depend on how well we negotiate with the mining firms," Mines Minister Wylbur Simuusa told Reuters in an interview.
Simuusa said the decision to seek a higher stake in the ...
CAIRO: Egypt's Alexandria Cotton Exporters' Association (Alcotexa) committed to sell 250 tonnes of cotton in the week which ended on Oct. 8, an Alcotexa official told Reuters on Sunday.
The sales comprised 147 tonnes of Giza 88 and 103 tonnes of Giza 86.
The deal brings Alcotexa's export commitments for the 2011/2012 season, which began in September, to 4,097 tonnes of cotton.
Alcotexa did not announce the price for the new season yet, the official said.
By this time ...
PORT SUDAN: Sudan said on Sunday it expects its mining industry to produce around 7 tonnes of gold in 2011 and it plans to launch a gold refinery next year to improve the quality of its much extensive larger small-entrepreneur output.
Sudan is trying to boost output of gold and other minerals to compensate for the loss of much of its oil production of 500,000 barrels a day when South Sudan became independent in July.
The African ...
KAMPALA: Uganda exported 340,378 60-kilograame bags of coffee in September, up from 169,728 bags in the same month last year, a source at the state-run Uganda Coffee Development Authority (UCDA) said on Friday.
"Farmers and exporters are clearing their warehouses of old stocks to create room for a new crop and that explains the huge jump in exports.
Also the crop in the second half of this coffee year (Oct-Sep) matured under sufficient rains which made it ...
HARARE: Mining firms in Zimbabwe have mostly met a September deadline by which they were required to submit plans to transfer a 51 percent stake in their operations to locals, empowerment minister Saviour Kasukuwere said on Thursday.
The heavily criticised law is aimed mainly at mining firms and banks operating in a resource-rich state that has become an economic basket case because of what analysts say are years of mismanagement by President Robert Mugabe's government. ...
CAIRO: Egypt's Alexandria Cotton Exporter's Association (Alcotexa) committed to sell 2,490 tonnes of cotton in the week that ended September 24, an Alcotexa official told Reuters on Sunday. The sales comprised 480 tonnes of Giza 88 and 2010 tonnes of Giza 86.
The deal brings Alcotexa's export commitments for the 2011/12 season which began in September to 2,882 tonnes. The prices have not been announced yet.
By this time last year, Alcotexa had sold 10,325 tonnes ...
CAIRO: Egypt's state-owned Sugar and Integrated Industries Company (SIIC) said on Monday it has bought 30,000 tonnes of raw sugar for October shipment.
The sugar was purchased from Vitol at the price of $745.75 a tonne, on a cost, insurance and freight (CIF) basis, a company official said.
"The purchase was made one day after our previous announcement of 35,000 tonnes," the official said.
Egypt's SIIC had said it bought 35,000 tonnes from Bunge ...
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