Oil spike threatens South Africa inflation, Godongwana says

Sustained higher oil prices resulting from conflict in the Middle East may fuel inflation in South Africa, though the buffers built by the government should help keep its debt-consolidation plans... 

World Bank says $50bn committed to African electrification

More than $50-billion has been committed to an ambitious plan to halve the number of people without access to electricity in Africa, according to the World Bank, its biggest backer. The programme,... 

Aluminium hits highest since 2022 as Alba declares force majeure

Aluminum prices surged to the highest since 2022 after Aluminium Bahrain suspended deliveries of metal to some customers under so-called force majeure clauses in its supply contracts. The company,... 

MMG profit more than triples on copper rally, strong output

MMG said profit more than tripled last year, buoyed by higher commodity prices and strong output at key mines, though still fell short of analyst estimates. The Chinese-owned mining company’s net... 

BHP says Australian coal mines can’t compete for capital

BHP Group told workers at its vast coal operations across Queensland that the mines can no longer “compete for investment” and the company was receiving no returns from the projects. The mines in... 

South Africa Treasury says it can weather shock like Iran war

South Africa’s stronger public finances have given the county a sizable cushion to absorb external shocks — such as the fallout from the conflict in Iran, according to the head of the National... 

Lithium producer SQM sees global demand growing 25% this year

Top lithium producer SQM said it sees world demand for the battery metal growing about 25% this year, after reporting record quarterly sales volume as the industry emerges from a global glut. The... 

Aluminum jumps as Middle East war threatens supply disruptions

Aluminum climbed on concerns that critical supply routes for Middle Eastern producers will be disrupted by conflict in a region responsible for a significant share of global output. Prices for the... 

Cape Town Mayor to run for leadership of DA

Cape Town Mayor Geordin Hill-Lewis said he’ll stand for election as leader of the Democratic Alliance, South Africa’s second-biggest political party, a contest he’s widely expected to win. John... 

Moody’s says South Africa budget ‘confirms’ strong fiscal stance

South Africa’s latest budget painted an encouraging picture of improving public finances, according to Moody’s Ratings, while cautioning that “meaningful” debt reduction will require stronger... 

Eskom to distribute power in debt-stricken South African towns

Eskom Holdings will be allowed to take over the distribution of electricity in South African municipalities that collectively owed the state utility R85.2-billion at the end of last year. The... 

Niche Australian metals miner Lynas has grown bigger than Qantas

Lynas Rare Earths has overtaken Australian blue-chip stalwart Qantas Airways by market capitalisation, as concerns about China’s dominance of critical minerals lift the miner’s stock. Both... 

South Africa traders are most bearish on rand in three years

Bearish options bets on the rand are at the highest in almost three years as traders start to question whether the South African currency’s headlong rally has further to run. So-called risk... 

Goldman and Citi see South Africa waiting to adopt rule on debt

South Africa’s finance minister is unlikely to formally adopt a fiscal anchor in this week’s budget, opting to wait until at least October to introduce the rule aimed at curbing public debt,... 

South African banks raise $322m in debut rescue-debt issue

South Africa’s biggest lenders raised $322-million in new loss-absorbing debt to comply with a central bank framework designed to ensure failing financial institutions can be recapitalised without... 

Black earners expand share of South Africa’s top income bracket

Rising remuneration among Black South Africans has dramatically changed the racial makeup of the country’s band of middle- and top-income earners over the course of three decades of democratic... 

Arcelor’s South African assets get approach from steel processors

South African steel processors have approached the country’s biggest development-finance institution with a proposal to help take control of ArcelorMittal SA’s struggling local unit. The industry... 

Steenhuisen warns DA about exiting alliance

South Africa’s second-largest political party faces some internal pressure to quit the ruling coalition, but doing so would damage its growth prospects and be a “big mistake,” its outgoing leader... 

World No. 2 gold miner is ‘willing to move’ on M&A, CEO says

Agnico Eagle Mines CEO Ammar Al-Joundi said the gold producer is “very well-positioned” to pursue acquisitions should opportunities emerge, signaling a renewed openness to deal-making after years... 

Economists see three more South Africa rate cuts, split on when

The South African Reserve Bank will likely cut interest rates three more times before ending its current easing cycle, according to a survey. Most of the 14 economists canvassed by Bloomberg,... 

Crime, job prospects drive rich, skilled South Africans abroad

Concerns about crime, the future of their children and career prospects have driven more than 1-million rich and well-educated South Africans to emigrate, a new report shows. Nearly half of the 1... 

Goldman expects wave of South Africa deals fuelled by commodities

Goldman Sachs Group expects a busy year of deals for South Africa as the continent’s largest economy starts to benefit from structural reforms and rides a commodities-boom wave. “We expect activity... 

A years-long push to unite Glencore and Rio fell apart in a day

For more than a decade, it was the deal mining billionaire Ivan Glasenberg had sought more than any other: putting Glencore — the sprawling commodity trader-cum-miner he built — together with... 

Cape Town goes private to boost electricity and water supply

Cape Town will call for tenders to implement several major projects that aim at cutting electricity costs and bolstering water security in South Africa’s second-biggest city and main tourist hub.... 

Vale eyes 1Mt/y copper output

Vale’s base metals unit wants to eventually produce one-million tons of copper by developing existing assets, exceeding an output target for 2035. Major mining firms such as Anglo American and Rio... 

South Africa to raise minimum wage 5%, exceeding expectations

South Africa will increase the national minimum wage for this year by more than the rate of inflation and exceeding the expectations of businesses and analysts. The hourly minimum will rise 5% to... 

BHP risks $2bn hit from dispute with CMRG, Goldman says

BHP Group could face up to $2-billion hit from pricing pressures after China restricted its Jimblebar iron-ore, as discounts widen and lump premiums collapse, according to Goldman Sachs Group. The... 

MPC member Chris Loewald to leave Reserve Bank

The head of economic research at South Africa’s central bank is taking early retirement from the institution, reducing the number of voting members on the monetary policy committee. Chris Loewald,... 

South Africa revamps black-empowerment fund proposal, BD says

South Africa’s government will offer companies new incentives in an initiative to capitalise a fund that will be used to promote Black economic empowerment, Business Day reported, citing a Ministry... 

Goldman, Morgan Stanley’s South Africa inflation call undercuts Central Bank

Goldman Sachs and Morgan Stanley see room for the South African Reserve Bank to lower its inflation forecast for 2026, as policymakers prepare for their first interest-rate decision of the year... 

South Africa nears fiscal turning point, Treasury chief says

South Africa’s budget will show government debt stabilising relative to gross domestic product for the first time in almost 20 years, said the head of the National Treasury. It will also show a... 

Mining stocks on cusp of supercycle as AI boom stokes metals

Global mining stocks have shot to the top of fund managers’ must-have list, as soaring metals demand and tight supplies of key minerals hint at a new supercycle in the sector. With a nearly 90%... 

MTN’s Iran troubles deepen with CEO ousted over shutdown delay

Africa’s largest telecom company has become embroiled in Iran’s decision to shut down communications during this month’s deadly crackdown on protests. Authorities ousted state mobile operator MTN... 

Godongwana plays down big tax changes in South Africa Budget

South African Finance Minister Enoch Godongwana ruled out any major tax changes in next month’s budget and stressed the importance of keeping fiscal consolidation on track. “It’s not something we... 

Global solar additions to fall for first time in 2026, says BNEF

Solar installations are set to drop next year for the first time since the industry emerged as a global force two decades ago, as policy shifts and saturation in major markets temper demand. The... 

UK extends $1bn climate-pact guarantee to South Africa

The UK and the African Development Bank extended a climate-linked $1-billion debt guarantee to South Africa, saving a $400-million municipal funding deal that was in jeopardy if it had expired. The... 

AMSA, IDC reopen deal talks with nonbinding offer for mills

ArcelorMittal and South Africa’s biggest development finance institution have resumed talks over the potential acquisition of the Luxembourg-based steel giant’s operations in the African country,... 

Vale’s copper ambition is to produce 1Mt/y

Vale’s base metals unit wants to eventually produce one-million tons of copper by developing existing assets, exceeding an output target for 2035. Major mining firms such as Anglo American and Rio... 

China plants another Africa marker in campaign to globalise yuan

Zambia is the first African country to let Chinese mining companies pay taxes in yuan. It probably won’t be the last, as Beijing seeks to internationalize the currency and dilute its dollar... 

South Africa’s rand set for longest winning streak since 2002

South Africa’s rand is on a weekly winning run not seen in more than two decades as elevated precious-metal prices and an improving economic backdrop drive gains. The currency is on track for its...