Glencore Xstrata to invest $100 million in South Africa’s coal sector
Miner and trading house giant Glencore Xstrata (LON:GLEN) is going full-speed with its plans to boost coal production in South Africa, and said it’s poised to invest close to US$100 million in new developments expected to supply nearly 60 million tonnes a year.
In a presentation to analysts, the company —which started trading on Johannesburg’s stock exchange last week— said Monday that first production from its projects pipeline was already “being implemented,” while the balance of new production would start coming on-stream by 2015.
Chinese Real Estate developer boosts Investor confidence in SA
The outcome of the R1 billion property deal between chemicals and explosives company AECI and the Chinese property firm Shanghai Zendai, has boosted investor confidence in South Africa's commercial property sector.
SA Commercial Prop News has learnt that Chinese Real Estate developer Shanghai Zendai Property (0755.HK) agreed to purchase land in South Africa for over R1 billion from AECI (AFE).
Dangote Cement Records 29% Rise In Q3 Earnings
Dangote Cement, a subsidiary of Dangote Group, has seen its Q3 net income rise 29 percent following radical investment projects across Africa and deeper local market penetration.
Nigeria’s largest cement producer posted a N156.1 billion ($981.7 million) figure as compared to N107.1 billion ($673.5 million) recorded last year, with share price surging 59 percent this year to close at N190 ($1.19) as at this morning.
AFRICA OIL ANNOUNCES KENYA OPERATIONS UPDATE
Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or the "Company") announces that it will resume operations in Block 10BB and Block 13T on November 8, 2013 in Northern Kenya following successful dialogue with national and county government and leaders of the local community.
